A micro account can earn you the same profit as that of a bigger account with only more time. So, if you have the resources you must go for a bigger one, else, micro is fine. But the demo account is for training and practice. It is best to test a strategy on a demo account to save any losses till you get confident enough to go live.
Demo account or Micro ?
- Thread starter Ahmed Solaiman
- Start date
Demo account is the only option for beginners on the market, because in this case they are able to learn the fundamental base of trading activity and create their own strategy. If your broker doesn't provide you with demo account you have several options then. The first one is the easiest - change the broker. The second one implies that you will trade on a real account but with small deposit. It will help you to get some knowledge and experience in trading, then you can deposit much more money and trade with huge amounts of money. Of course, never forget about risk and money management, because they're fundamental in this case.
according to me
demo is really good for all kind of trader , no way to deny but the most important thing is , beginners level dont trade in there seriously because there is no real money.
For those who want to get a taste of the market conditions after they are done with their theoretical knowledge, the demo account is what I would suggest. You must spend some time getting practical knowledge of how simple to complex things work in the market. Once you have collected information regarding that, you can try your hands at live trading with a micro account. You can start small and the losses won’t have a big impact on your trade. It’s good for real learning.
i will take micro account (or cent account) over demo just cause trading with real money even small amount will teach you to handle your emotions better.
micro account is very supportive to bring live knowledge and experience.
Both demo account and micro account have their own advantages. I can never choose any one out of the two. Demo account helps me in building my strategies and micro account helps me test them in the live market. If any of the two steps is missed, I can never be sure about my trading strategy.
most of the time micro account make beginners emotional , this is very common game and happens every day.
Go for demo trading if you are inexperienced and completely clueless because the risk in micro accounts can be small but it isn’t absent. Once you get a hang of basics, then you can move to a micro trading account. They are good for beginners.
I practiced on a demo account before moving to a live trading environment. I traded demo for a few months. Demo accounts are wonderful for complete beginners but a real trading account teaches you more. However we should keep in mind that risk may be small on micro accounts but it isn’t absent completely. So try to gain skills before moving to a micro account.