Demo account or Micro ?

[kroxobor]

Demo account is a waste of time except to learn the platform you are using.

Even if you did a demo account for months you eventually have to go live with real money and develop real discipline and emotional control. You wont have learnt that those skills with a demo.

Yeah and also order execution itself adds lots of uncertainty in the process... not enough to have correct signals, if it's really good often you will be late competing with other traders with same signal for best price.

 

[Abbas Ali Khan]

which trading platform is more appropriate it depends on your trading conditions. so choose your own condition first of all.

 

[Tritical]

Starting with a demo account is the most trusted way to get some trading skills. However, demo accounts won’t make you money. You need to know the real market, which comes with risks. Therefore, trading with a micro account makes sense to learn and make money as a trader, after a short stint with demo.

 

[AndrewMcCalam]

actually there is no difference between demo and live trading , its all about psychology of school , nothing without it.

 

[bookish]

I like to do practice trades with around 10 mil in a live account. This way I get real experience with bid ask, broker fraud etc. There is the possibility of making money for my time, but if I lose its no big deal.

 

[FahadMd]

trading in a live account with real balance is a very good source to bring live knowledge and experience, i prefer this instead of demo.

 

[Homunculus]

A beginner should always use the demo account first. A demo account is a great way to learn the ropes of Forex trading without risking any money. Once you have mastered trading on a demo account, you can move on to a micro account. A micro account allows you to trade with a much smaller amount of money, which is ideal for beginners.

 

[PeterNguyen]

actually there is no difference between demo and live trading , its all about psychology of school , nothing without it.

when you have real money in your trade, your emotions and trading mentality react a lot difference than trading with fake money. It is why a lot of new traders manage to do pretty well on demo account but flop on real trading. So demo trading is a lot more for backtesting strategy or getting some practise on indicators.

 

[radex78]

If you want to backtesting strategy, a demo account is free without any risk at all, losing money in the demo will be nothing on your minds, but to build good psychology trading, micro account better than a demo account, a trader can start with a small deposit in micro account like as $10 if they don't want to start using higher money.

 

[Overnight]

...a demo account is free without any risk at all, losing money in the demo will be nothing on your minds...

That's the main problem with a demo account. "Losing money will be nothing on the mind." It takes no toll, it provides no mental stress.

That actually becomes a smokescreen to the rugpull the live account will have on the mind when real money is involved and it is lost.