Importance of Demo Accounts

[freezfx]

Yeah, we cannot just enter and start trading, we need to have lots of knowledge and experience and skills to become successful in Forex Trading.

Yeah, this point have been made severally and with all seriousness. This shows how important demo can be for our future success in the market.

 

[ashouq]

We better start practicing demo trading and practice it with more consistently to become a successful trader.

 

[Brads]

Yeah, and after much Demo practice also, we shouldn't think that we know all, we should start with small investments and then increase our investments as the time goes by.

 

[jameswilliam]

True that! one should always invest the amount one can afford to lose, especially in case of a newbie trader.
Go slow and steady!

Very correct ! (Y)

 

[ema watts]

Very correct ! (Y)

thanks james.

 

[buzzfxbroker]

Demo accounts are important to test out your strategy. You should develop your own strategy after testing it on a demo account. But if you do want to try out something new we've got a list of over 70 trading strategies on our site with examples.

 

[Brads]

Demo Trading is the best way to learn about the Forex, but only if you take it seriously, like it is the real trading.

 

[Alexfx79]

Not agreeing with you totally, because if you want to learn Forex in a proper way first of all you have to be experienced by real trading practically, otherwise by passing a long time in demo trading that’s not possible at all to learn proper trading knowledge in Fx. Demo can be used when you just kick off this trading place as newcomer but not for a long time at all.

it depends on what do you mean by 'long time'

 

[Aadolf]

A Demo account is meant or designed for practicing. There are several benefits that we can receive from a demo account. Demo traders do not have to fund their demo account with real money. A demo account is a great tool and is very helpful for newbies, especially to build their confidence in trading.

 

[ashouq]

Demo Trading is the best way to learn about the Forex, but only if you take it seriously, like it is the real trading.

You are cent per cent right but most traders take it as a tiring job and see most of them are listed under those 90% who looses in forex market.

 

[Martin Gaptil]

The demo trading can be effective for any kinds of traders who are especially beginners. Besides beginners it would be a great place for the regular traders, before live trading if we can use all trading strategies first of all in our demo account to see the performance how it works. I think it will help us for avoiding loss with certainly.

 

[ashouq]

Demo trading for beginners is a must have and they should at least try practicing it for minimum six months or more before trading live.

 

[Ziker]

Demo is a useful thing. For newbies it's just an irreplacable experience of trading a la the advanced traders, great way of tuning your TS.

 

[Biggi]

I think demonstrational accounts are good, but cent accounts are better. there's more use from them in a psychological sense, there's no shock later when switching to a real account.

 

[Aadolf]

Forex lures new traders on a daily basis into the foreign exchange market. Newbies especially are looking to make an easy and quick profit. However, before you begin trading as a newbie, it is necessary that you familiarize yourself with how the market functions with the aid of a demo account. When you know how to demo trade, it becomes an added advantage to trading successfully.

 

[ashouq]

In my opinion, trading on a demo account helps new traders getting familiar with the processes much easily and demo practicing can be the real asset for any successful trader so anyone wishes to become successful in future should stick to demo.

 

[Eric Owen]

I think, it is important to have demo-account if you are beginner in Forex. Or you just registered on new broker website and want to know more about how to trade.

 

[ashouq]

Demo account is for everyone, in my opinion. Even a professional and experience trader need a demo account to test any new strategy or either they require demo account to back test EAs before implementing them in live accounts.

 

[jellyeb]

Demo account is for everyone, in my opinion. Even a professional and experience trader need a demo account to test any new strategy or either they require demo account to back test EAs before implementing them in live accounts.

Yeah I agree, 3 years on live but I still test some of my ideas and system upgrades on demo first and only then I transfer them on live.

 

[SweetPrincess]

Demo accounts are very helpful most especially to the newbies. With demo account, it can allow you to experiment with a wide array of financial products as well as to become familiar with the available tools in the platform. It is a way to test your trading strategies before funding the account or placing trades.