Demo vs. live

in order to me , the best way is for someone to get a demo account and then try Forex trading without the benefit of any training or even reading of the basic of Forex trading, this way , you will get confused a lot and therefore , if you get attracted to the trade, you will search the web and find out and learn about the things which are making you confused.

I used demo account for some months and then, when I became profitable on it, I decided to go live and created cent account. And it is abdolutely different feeling! I trade with small money, but feel so excited and sterssed all the time, that sometimes close orders earlier, just because Im stressed too much. Hope, its a metter of time and I`ll become more calm.
But I strongly advise you to try micro account after demo and not risk big ammounts of money.

Yes, I know this feeling. This is what we are talking about here, a psychological aspect of live trading.
Trading on micro account is really good idea, I also use it.

Me too, still use micro account or cent account, as level beginner this kinds account is safe than standart account because value per pips is only one cent, for learning purposes if can increasing money on micro account hence also will possible money will growth

I have gradually moved away from a cent account, but I still too prefert to trade with small sums and not take any excessive risks. I’d rather profit less and lose less than profit a lot and lose a lot.

Demo acc is better to start trading in forex world. You can access all currency and try a profitable method for your trading.

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I am not interested to compare demo with live Forex trading; because the purpose of demo trading is, learning and upgrading trading skill, but live trading is for real money making! Demo practicing is the best way of learning! Novice traders need to use their demo account so cautiously thus they can handle their real emotions in their live account!

Yes, its all about psychological aspect! I see, maximum novice traders open their demo with huge virtual trading capital, but they start their live trading with a low capital like 100-500$, but they use standard trading lot size as like their demo trading account! I see, novice traders are more aggressive here! Besides, pro traders are defensive, they use money management rules so carefully!

I Agree with the previous answers. Demo account is a very good idea to learn and practice trading with the real market conditions and no risk. However this idea of virtual money turns out to be a big difference between demo and live account. Traders tend to get more emotional and vengeful when it comes to real money. This aspect of emotional management is missing in demo account. I agree opening a micro account after using demo for some time.

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There is no denying that Emotions play a big part. But there’s another aspect as well - You are less likely to experience slippage and requotes in a Demo account. If you make trades for only a few pips, this can turn a profitable strategy into an unprofitable one.

That is very much true. One should look for a broker that offers live accounts that don’t experience - or experience as little slippage and requotes as possible. If you notice that happens a lot when you trade on a live account it’s time to switch your broker.

If you have demo account try to trade as if you are trading in real account. Because in this way you going to learn how to manage your funds. Also if you are trading with a big amount in demo. Then I suggest you scalp up also. For example if you have 10,000 dollars virtual money and in real account you only want to deposit 100 dollars then scalp up our lot size by using 1 lot size while in real account you will just going to use .01 lot size.

I agree, demo accounts are exclusively meant for learning, gaining experience and to understand the functioning of the market. Traders must prepare themselves psychologically before going from demo to live account and don’t let their emotions to dwell in. And I prefer starting up with a micro account.

Demo accounts are also a great testing tool, even if one is an experienced trader. One wouldn’t try out a brand new strategy on a live account, but can do so safely on a demo account.

There are certain trader that having preparation on demo practice more than two years, because he won’t to fail on real account, and this is better step for beginner than they rush jump to real account but not yet having experience in trading, most of them that in hurry because desired to making quick money they get failure

Demo is the best way to learn about the Forex Trading, but only if you do it seriously and real account is where you test your knowledge that you have learnt from Demo and various other sources.

Ya agreed, demo hv to take it as real account also. Trade seriously as it your real money. Then from real account it will cut down your fear.

It is tough to treat a demo like a real account though. Easy to forget losses and remember wins

one of the biggest mistake a fledgling trader makes is opening a demo account to trade… if your not prepared to go live from the get go. you shouldnt try. its like saying "you know what guys, i want to open a fast food shop. but to make sure i will be any good i will open up a fake food place and see if it works??? either your in it, or your not. and if your in it and bomb out. clearly you were under prepared

Absolutely dont agree. Its not the same. Fast food business depends on different factors (especially, clients), forex trading depends only on your trading skills, your ability to analize and predict price changes. And it`s better to gain such skills, trading fake money, so you can try and test any strategies without risks.

If it was possible to open a fake shop and test how it works just like in real life, I would definitely try it!