the demo is really important for newcomers and seniors but people dont trust it. actually demos experience most of the time works to fail. thats the real reason.
Demo account or Micro ?
- Thread starter Ahmed Solaiman
- Start date
Demo accounts are a good way to start off your trading career but I won’t recommend depending too much on the results you get from demo trading. The live market is different and you will have to obtain experience in the live market too before you take big risks. For this purpose, micro accounts can be a good option for you.
I prefer to test brokers for commission and trade executions on demo only, though have seen many using micro too.
Oh definitely start on demo and I'd advise staying on it up or after 6 months TF .
Then move to micro account next logical step for sure
Then move to micro account next logical step for sure
i myself would recommend micro over demo, having some form of money investment will force you to build habit of money management while trading which translate better when you switch over to standard account. However, there is also benefits to demo account as well.
The benefit of a demo account dies the moment you learn how to push the buttons on your trading software, and learn the messages it displays.
That's it. Because the market you trade in demo mode does not stay in demo mode. It moves on. You need to move on with it.
For a trader who has no idea about how the market looks and how to use a certain trading platform, opening a demo account is a must. And when you have already practiced enough on your demo account, you can move ahead with opening your live micro account where you can practice live trading with little money.
Demo and micro account trading are two different ways of trading Forex. A demo account is a practice account that allows traders to trade using virtual money. On the other hand, a micro account allows you to trade using a real money account with preset deposit and leverage. If you have just started trading Forex, it is best to start with a demo account to learn the ropes. Once you have gained some experience, you can then switch to a Micro account.
most of the time we the traders ignore the importance of demo but this is the master place to become knowledgeable trader very rapidly. just need a patience.
demo is really good but now i practice in a micro account which supports me to avoid unfortunate risk and losses .