Demo account or Micro ?

If you are new to forex trading and have no trading experience, it is best to start with a demo account to avoid risks and capital losses.

Traders who have spent more than three months in the demo can take a risk on their own with a micro account to gain some live trading experience because the demo alone cannot help you profit.
 
If you don’t mind losing money while practicing forex trading, then you can trade a micro account, otherwise stick to a demo account, which allows you to trade using virtual money. Ideally, you should start from a demo account and then switch to a micro account, so as to test the strategies that you have developed in a demo account.
 
kroxobor said:
Ideally, you should start from a demo account and then switch to a micro account, so as to test the strategies that you have developed in a demo account.
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Yeah, this is the correct sequence which every beginner should follow.
 
I think everyone should start on demo to gain that experience and test their strategy. Once you're profitable on demo, that's when I'd consider moving on to a micro account. However, it isn't the best idea to just jump straight in with money involved when you can start on demo.
 
ActiveLead said:
Yeah, this is the correct sequence which every beginner should follow.
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I second that. It doesn’t make sense to lose money even in a micro account when a trader doesn’t have any knowledge about forex trading. It’s better to start with a demo account, learn the intricacies of the trade and then, move on to live trading. Maybe then the chances of trade losses would reduce significantly.
 
Micro or cent account is still more valuable imo as you can invest little amount for trading so your risk is minimal while still get to experience trading using real money which gonna be more useful to you as you learn. You are also gonna be more strict and less risky when playing with your own money.
 
Both have their own significance, so if someone has no experience in trading and hasn’t even seen the trading platform before should start with a demo account. While those who are acquainted with the trading platform can begin trading a micro account. It’s up to the traders as to which type of account they are comfortable with.
 
I prefer trading with a micro account since I have traded with a demo account for the past six months and using the micro account has lower risks and opening balance.
 
Micro is good for me because it give me a chance to improve my trading with small funds, but if I am unsure about using such broker, then I go for demo account.
 
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