Demo accounts

[Oli_jackson]

Hello everyone!

I'm newbie at trading and engaged with learning. I have a question about demo accounts.
Are they just like real accounts or there's a difference? Since traders use them to train it is logical if they have same condition as real accounts but maybe not and that's why I'm asking. I would appreciate if you share what you know with me.

Thanks you.

 

[fargana]

Hello everyone!

I'm newbie at trading and engaged with learning. I have a question about demo accounts.
Are they just like real accounts or there's a difference? Since traders use them to train it is logical if they have same condition as real accounts but maybe not and that's why I'm asking. I would appreciate if you share what you know with me.

Thanks you.

The difference can be subjective (psychological acceptance of losses and emotional upturn in case of gains) and objective (speed of execution). Otherwise it should be the same.

 

[Oli_jackson]

The difference can be subjective (psychological acceptance of losses and emotional upturn in case of gains) and objective (speed of execution). Otherwise it should be the same.

Thank you for the explanation!

 

[Black Bobble]

It is best to test new trading strategies on a demo account.

 

[Oli_jackson]

It is best to test new trading strategies on a demo account.

Yeah, I was told a lot that to start with demo accounts first and then go live.

 

[Ara]

Hello everyone!

I'm newbie at trading and engaged with learning. I have a question about demo accounts.
Are they just like real accounts or there's a difference? Since traders use them to train it is logical if they have same condition as real accounts but maybe not and that's why I'm asking. I would appreciate if you share what you know with me.

Thanks you.

One main difference between demo accounts and real accounts is the use of virtual money in demo accounts, which allows traders to practice trading without risking any real money. This means that the profits and losses in a demo account do not have any real financial consequences.

 

[Chadpowell]

I think the only difference is in emotions!
When you lose money in demo accounts you will not feel the pressure that might be on you when you lose real money!
In real accounts we have something that it is not in demo accounts too, GREED!
In your demo accounts once you reached your target, you will close the deal but in real accounts you want to earn more and more.
So take this into consideration

 

[Oli_jackson]

I think the only difference is in emotions!
When you lose money in demo accounts you will not feel the pressure that might be on you when you lose real money!
In real accounts we have something that it is not in demo accounts too, GREED!
In your demo accounts once you reached your target, you will close the deal but in real accounts you want to earn more and more.
So take this into consideration

That was quite insightful mate. I totally agree. Actually, now that I'm thinking about my own experience with demos, I see that you're totally accurate.

 

[thomas_novak]

Hello everyone!

I'm newbie at trading and engaged with learning. I have a question about demo accounts.
Are they just like real accounts or there's a difference? Since traders use them to train it is logical if they have same condition as real accounts but maybe not and that's why I'm asking. I would appreciate if you share what you know with me.

Thanks you.

Hey there! Demo accounts are perfect for newbies like you. They simulate real trading conditions, but with virtual money instead of real funds. It's a great way to practice, learn strategies, and get familiar with the trading platform. Just keep in mind that emotions and market conditions might be different when you switch to a real account. So, practice on demos, gain confidence, and when you're ready, take the plunge into live trading. Good luck!

 

[Goldbarrel]

I agree, a demo account is a must before trading.

 

[Oli_jackson]

I agree, a demo account is a must before trading.

Any experience you want to share? I would be happy to hear it.

 

[NatureGirl]

Hello everyone!

I'm newbie at trading and engaged with learning. I have a question about demo accounts.
Are they just like real accounts or there's a difference? Since traders use them to train it is logical if they have same condition as real accounts but maybe not and that's why I'm asking. I would appreciate if you share what you know with me.

Thanks you.

course there is a difference between demo and real and there R several steps first a demo then a small amount in a real one and after that U can fund Ur account with larger amounts

 

[Oli_jackson]

using virtual funds

That is a very valid psychological concept which as beginners traders should be aware of.

 

[NatureGirl]

Demo account is a must for a trader. Just bear in mind that a person might not behave the same in a trading environment using virtual funds as opposed to real funds.

BTW R U a fan or one of us? haven seen anyone like us here before

 

[CallahanSinclair]

Hello everyone!

I'm newbie at trading and engaged with learning. I have a question about demo accounts.
Are they just like real accounts or there's a difference? Since traders use them to train it is logical if they have same condition as real accounts but maybe not and that's why I'm asking. I would appreciate if you share what you know with me.

Thanks you.

I believe demo accounts are an excellent resource for learning forex trading. While they aren't entirely identical to real accounts, they are essential for acquiring forex trading skills. Demo accounts offer an opportunity to prepare for real-world trading. However, it's important to note that they do differ somewhat from actual trading accounts.

 

[fargana]

I believe demo accounts are an excellent resource for learning forex trading. While they aren't entirely identical to real accounts, they are essential for acquiring forex trading skills. Demo accounts offer an opportunity to prepare for real-world trading. However, it's important to note that they do differ somewhat from actual trading accounts.

What is the key difference between demo and live account according to your experience?

 

[Phill88]

What is the key difference between demo and live account according to your experience?

Perhaps he meant that on a demo account, spreads are narrower and order execution is instant. In any case, the demo account is my go-to. Whether you want to change your strategy, test it on a demo, or try out an EA, it's all here on the demo account.

 

[fargana]

Perhaps he meant that on a demo account, spreads are narrower and order execution is instant. In any case, the demo account is my go-to. Whether you want to change your strategy, test it on a demo, or try out an EA, it's all here on the demo account.

Idk I check exness and hotforex, spreads on demo and real are the same. However yes execution seems to be instant, could be a sign that they do hedge our orders with their liquidity providers, i.e. no conflict of interest.

 

[St-Cyr]

demo is only for history patterns. only real, even 10$ accounts can give much more. just choose the lowest volume

 

[CallahanSinclair]

What is the key difference between demo and live account according to your experience?

I think the biggest difference between demo and real accounts is how emotions come into play. In real accounts, the psychological impact is much stronger and really influences trading decisions. Despite these , I strongly recommend using demo accounts to gain practice and improve your trading skills.