Why should I trade using a demo account?

[Benjamin Bryne]

Trading on demo platforms will develop my experience. From which I can reach the goal.

 

[Alicia Lynch]

Goals can be achieved based on experience. And you need to test the strategy on the demo platform to gain experience.

 

[Cooper Truebridge]

Every trader needs to use the demo platform. This increases the experience of real trading.

 

[Smash Fun]

Demo Account could only be helpful for you to learn about the structure of the Forex Market. To learn how to make money, you need to practice with small chunks in the real market.

 

[eddiereich]

Demo accounts provide traders with a replica of a real trading platform, having the same features. It's an excellent way to test and apply trading strategies because traders do not lose any money. They are free; therefore, there is no harm in using one. Indeed, they make you a better trader.

 

[Ebba]

Demo account is very useful in helping you out in understanding how you can make a strategy for trading or backtesting your strategy so that you can find the way to fix or remove any unnecessary thing. Basically an trial and error situation

 

[Smash Fun]

Demo account could be the best way to learn about the Forex Market Structure and if you are looking for real knowledge, you must invest small capitals to earn.

 

[Cedric Fenech]

Demo account is for practicing and that’s what it should be used for. In no way, it should be seen as a way that leads to profits in the live market. It is just meant to make you familiar with the trading conditions. Live trading is different and difficult. Just practice for a while on a demo account and shift to live trading.

 

[maxlvg]

For me, a demo account is not just a place to practice but a place that gives me confidence that I am on the right track. There has never been a trading strategy that I used on my live account before testing it on my demo account.

 

[David Marco]

Demo accounts help a trader to become expert.

 

[Smash Fun]

Many successful traders will test strategies in a practice account before they try them out with real money. Demo trading does not guarantee profits in a live account. ... That is why demo trading is vital to the growth and development of forex traders.

 

[Kevin Vogt]

Demo accounts help a trader to become expert.

To become an expert in trading we need to practice a lot in demo account also we need to read the e-books about trading this will help us to improve our trading knowledge then we have to make our own trading strategy then i hope we can become successful of expert in Forex trading.

 

[Kazumu Fukunaga]

Demo trading can give us confidence about our strategy. If the strategy is doing good on demo, it will do good on live as well.

 

[Gallimaufry]

@Kazumu Fukunaga I agree that it helps in confidence about a strategy. Adding to that, we can always practice new ways in which a strategy can be used. I suggest to always keep on improving your strategies to be consistent with your profits.

 

[Flotsamm]

I think it’s crazy to not use a demo account before trading in the live market. Quite a daredevil thing!

 

[lotcamel]

Why should you demo trade?

-Build trading skills and strategies in a risk-free environment.
-To understand the trading platform.
- To get the sense of the forex market

 

[nicktheking]

Why should you demo trade?

-Build trading skills and strategies in a risk-free environment.
-To understand the trading platform.
- To get the sense of the forex market

Adding one more: For backtesting strategies even when you are trading on live account.

 

[helodear123]

The demo accounts are best to test any broker's processes without investing any money with them. It has actually many benefits which a new trader can count on like testing a broker without being getting scammed by depositing money to any scam broker. The new traders can learn forex trading without any real money, they can access the real market conditions with virtual funds provided by the broker etc.

 

[Bandwagon]

One of the best tools, trading a demo account for practice is one golden advice that all novices should take into consideration, as it is very valuable. Using a demo account, beginners can learn and test risk and money management strategies and market analysis before trying them out in the live account. Even though it doesn’t guarantee profits in a live account, it is still essential for the growth of a trader in the live trading environment.

 

[heispark]

Why should you demo trade?

-Build trading skills and strategies in a risk-free environment.
-To understand the trading platform.
- To get the sense of the forex market

Nice pointers. To understand the basic functioning of trading platforms and the working of the market, it is very important that a trader trades on a demo account first.
And a demo account is the best place for the traders to backtest their strategy, if their strategy loses its edge.