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Demo Account or Live Account? Any Comments?


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Both demo account and live account have other benefits. Demo account is very useful for traders, especially for beginners because they can trade without any risk and live account to make profit when trading.

 

Of course. And for beginner, demo account will be useful because they can learn forex trading without having to make deposit first.Demo account also can be use for taking part in demo contest too and it will make us get more experience. I still use demo account until now although i have use real account in TenkoFx.

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get familiar with the market and your platform on demo but do not spend too much time with it. There is huge emotional difference between demo and real money, so after you have some practice go live with very small amount. You can easily increase it when your live trading is going well
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Be profitable in demo isnt a proof for beeing successfull with a live account. It's no problem to loose a couple thousend bucks on demo; you will think "damn next time i will do this and that" but you cant compare this to a real account. If you loose money with a real account you have to face emotions like fear and greed. It hurts when you loose money.
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I find you can pick up very bad habits with demo accounts. I tell people all the time to trade a demo account the same way they would trade a live account. Ive run into to many people who say well im just gonna take this trade because its SIM. Well if you wouldnt take it with a real money account why would you develop bad habits?
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However, demo account has some disadvantages as: demo server's speed execution are slower than live server, it affects the bid/ask, you can't trade gold in demo,... so you should begin with micro-account when you want to trade live.

 

It might be a problem, but the main advantage of Demo account is that it gives you a real life experience on how to trade, it gives a complete knowledge about how market works.

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It might be a problem, but the main advantage of Demo account is that it gives you a real life experience on how to trade, it gives a complete knowledge about how market works.

 

This is way to get the experience in forex market with demo trading account. Every new traders need to completely the demo trading for their carier in forex trading. :-bd

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I am also trading both live and demo account in hotforex, they offẻ never expire demo account and I have used it to test my robot and strategy. I think live account of course better but demo account can be used as a tool to improve your trading performance.

 

Yeah Demo accounts are very handy when it comes to testing your skills and strategies, its good for both experienced and new traders.

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you should choose live account only after you et enough practice on demo (at least 1 year). You need to have tested trading strategy with thoroughly calculated lot size, TP and SL and always abide by it. I moved on live hotforex only after spending 6 months on their demo testing my trading strategy, preparing it for live trading.
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