Demo account with real account experience

[Jamesstefines]

Use IB!

 

[kroxobor]

I am about to start forex and wish to know if there’s a thing like a good demo account in terms of reliability and has nicer spreads as well. I tried a few demo accounts after going through a couple of online trading discussions and noticed the spreads were higher on most common pairs (I checked with the UK timings). They were even higher than real account. Can you please point me towards a demo account that provides trading experience closest to a live account? Or can see if the spreads are almost same with demo and live accounts. Thanks for sharing your thoughts.

You can try Tickmill or Hotofrex, I trade with them, both have FCA licenses and offer ECN access

 

[Alsafym]

Demo - account to use even the most experienced and professional drivers in order to at least test your line of it, and for beginners this is generally a very convenient option.

 

[Travis1088]

Why is demo account very different from the live account, and its more complicated in live account than the demo ?

 

[Bill Marwick]

Why is demo account very different from the live account, and its more complicated in live account than the demo ?

Because in a live account, you trade with real money and that's when emotions intervene too.

 

[Jastinross]

Their monthly charges are not meant for small traders. Use ib only if you are gonna be investing big in future.

 

[turnegad]

Their monthly charges are not meant for small traders. Use ib only if you are gonna be investing big in future.

What’s this rambling about ib’s charges? They don’t charge anything in the name of commissions.

 

[shrieksmokey98]

I am rather surprised reading the comments here. I am a demo trader currently with ic markets and fxview and learning so much. Without this knowledge I can’t fathom beginning to trade at all.

Honestly, I hold a quite different opinion on using demos. Go directly with a live account. Failures are the only way to learn quickly and effectively. Doesn’t matter you use ic, fxview, xm, cmc or in my case pepperstone, I never created a demo account.
You all might have heard a quote saying, “Don’t cry over spilt milk (trading losses), instead, go and find yourself a new cow (trade)”.
What’s actually the purpose of using demo accounts? To minimise your losses, right? Because everyone fears losses but remember they are a part and you are still unpredictable with your future trades.
Why not risk big and win big?

 

[Kajir]

K must choose for himself the option that is closer to him, and there is, the one that he thinks is valid turns out to be profitable.

 

[deaddog]

What’s actually the purpose of using demo accounts? To minimise your losses, right?

I use a demo/sym account to practice trading.
I would never take a strategy live until I had tested it on demo.
I practice with the same account size I will trade live.
I make sure I follow the rules.
Once a strategy proves to have an edge I can take it live with confidence.