Importance of demo

[Codrin]

I think it’s important that you place at least 60-85 demo trades on the platforms you’ll be using before you start trading with your hard-earned money as I believe practicing on a demo account is a good way to gain empirical knowledge without exposing yourself to any real risk. I also did the same when I was new to the market, some of the demo accounts I used were of icm, xm and currently using fxview demo to backtest my strategies.

 

[Oghmaron]

The main concept of the advantage of calculating the throne is quite effective and useful.

 

[Joseph@]

The main reason why beginners are advised to use a demo account before live trading is to understand about the live trading because it has the same replica of the live account.

And by practising on a demo account, a trader can develop new strategies and build confidence to take a certain risk in live trading.

 

[atawil]

I would like to add that the main purpose of a trading on demo account before going live is to create a trading system not just learning setup or managing risks etc you should have a complete or somewhat effieceint system to go live imho

 

[Axesinger]

The demo account serves as a kind of simulator for developing trading skills and gaining experience in the Forex market.

 

[Jenci]

The main reason why beginners are advised to use a demo account before live trading is to understand about the live trading because it has the same replica of the live account.

And by practising on a demo account, a trader can develop new strategies and build confidence to take a certain risk in live trading.

Yes only real money is not involved rest everything else is same so traders should practice on demo account sincerely.

 

[Nicerchil]

The main reason why beginners are advised to use a demo account before live trading is to understand about the live trading because it has the same replica of the live account.

And by practising on a demo account, a trader can develop new strategies and build confidence to take a certain risk in live trading.

I know it’s not my real money that I am putting in, I just can not seem to take demo accounts seriously. Is it of any use then?

 

[Richerichaderson]

I would always advocate use of demo accounts.

 

[Ytintod]

I know it’s not my real money that I am putting in, I just can not seem to take demo accounts seriously. Is it of any use then?

In that case you could go for a broker like instaforex or avatrade, you can start practicing with a smaller deposit, with avatrade it starts from $100.

 

[ewasevvrard]

In that case you could go for a broker like instaforex or avatrade, you can start practicing with a smaller deposit, with avatrade it starts from $100.

Even Fxview and XM are good for that matter, I practiced on fxview with only 30 euros as my first trade.