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Why demo trading?

This forum is for new and aspiring Forex traders. Trading can be very risky but can also bring great rewards. No one starts with continuous success but many continue with the success. It's a continuous learning, unlearning and learning again. Ask your questions, share your frustrations and also smiles of success. The objective is to have more and more smiles. Hoping to have the pros to frequent this playground to coach the new team here.
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Why demo trading?

Postby DanielleDavidson » Sat Oct 10, 2015 3:18 am

Demo Forex account is essentially a virtual trading platform where you can buy and sell various currencies without risking real money. In providing this service, Forex brokers replicate live online Forex trading within a test environment where no trade actually gets sent to the market. There is a slight caveat to this. In a true ECN market environment, trades will not necessarily be executed at the requested price you see in the electronic trading platform. This is because there is always a time lag between the time you trigger your trade, and the moment it actually reaches the bank on the other side of your Forex trade. In live trading, this is referred to as slippage, which may be favorable to you or go against you. This is fully expected, and under normal market conditions, won't be noticeable. Over the long-term, and when trading with a true ECN broker, slippage is likely to be in your favor and may help you accumulate substantial savings.
So being able to use demo trading is great because you can get the experience that you need.
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Re: Why demo trading?

Postby Joy Bahadur » Tue Oct 20, 2015 9:48 am

From my first day of trading, I am extremely dedicated to be a knowledgeable trader for predicting the real faction of this market with certainly. So, I took demo trading seriously for acquiring exact trading knowledge, although, we the traders don’t believe the importance of this trading place. I have opened my demo trading in MXTrade trading broker before 3 months ago. After passing some steps, from here, I have acquired exact fundamental knowledge which helped me very much to start a live account in a proper way. So, my trading life is very much flexible.
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Re: Why demo trading?

Postby Jack100 » Wed Oct 21, 2015 1:25 am

Demo trading is very necessary for every new trader to get knowldge and experience in Forex. If you will get knowldge and experience you can get lot of profit.
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Re: Why demo trading?

Postby Charles Baksh » Sat Nov 07, 2015 9:29 am

It is optional in my view like for me I am using 200 dollars free welcome bonus with Nova FX, so it plays the better version of demo for obvious reasons and another massive advantage is that if I get success then I can convert it to real account without any major requirements, so that makes it pretty handy while even conditions are nothing to worry over as all is pretty simple and straight forward making me feel at ease with all.
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Re: Why demo trading?

Postby milikaxi » Wed Nov 11, 2015 7:48 am

Demo trading is the foundation of live trading, it's very necessary to practise 3-4 months of demo practise and then turn into live account, I suggest mirco live trading is much better.
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Re: Why demo trading?

Postby Sininfinity » Sat Nov 14, 2015 5:15 am

A demo trading account can save lots of money for newbie and for experienced trader. It may not train emotion but it can save lots of money which comes before that.
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Re: Why demo trading?

Postby John Morris » Sat Nov 14, 2015 8:27 pm

In my view demo account functions mainly to allow us to practice things well, but if we are lazy or don’t take advantage of this then we must not do trading given this business main principle is patience and if we don’t have that then we should be staying far away from trading. I am very much patient especially with having OctaFX broker, as they offer us lovely 8 dollars no deposit bonus, it is terrific and helps so much more.
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Re: Why demo trading?

Postby radex78 » Mon Nov 16, 2015 11:46 am

Demo account is very essential for beginner trader before they investing real money in account forex, in this free account as beginner can test many system trading one by one to finding system trading that can make them comfortable during trades, which if trader seriously in learning hence will as good preparation if then they jump to real account.
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Re: Why demo trading?

Postby Husam » Tue Nov 17, 2015 12:13 pm

Clearly, to improve your trading skills without any cost! But, it’s not last step of learning but just beginning session of learning. You have to handle your demo account on the right way, but it’s quite tough without any mentor for new traders. But, live trading setup of TradingBanks was my best tonic to learn Forex trading principle.
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Re: Why demo trading?

Postby Joy Bahadur » Wed Nov 18, 2015 11:27 am

For acquiring exact trading knowledge, there is no alternative way without demo trading, even though we the traders don’t believe the importance of this trading place at all. In my trading career, I took demo account very carefully and my trading broker MXTrade provided me 1000,000 for trading at all times with lowest trading spread. After passing 3 months from here, I have gathered exact fundamental data which was very supportive to start a live account in a proper way.
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