If I open a Demo Account...?

…will the brokerage bother me until I give them real money? Is there a limit to how long I can “play trade”? And, what are some of the better brokerages I can sign up with?

Thank you, everybody!

I don’t think they will bother u there no need for them to do that too. As they kn they doing business, it do them no good if keep bothering u n in the end lost u this account. There no limit. For other broker idk, so far I’m using oanda, been with them for few years so far so good

hello tahdhaze,
it depends on the broker. Some brokers run after demo accounts for conversion to real trading accounts. Others bother only real trading account-clients since there is a higher probability for a deposit. They might call you 1 time just for a ‘welcome-hello’. It really depends on the broker’s structure/policies.

You certainly can come across this little headache, but it shouldn’t stop you from opening a demo account. You can always tell the managers (or whoever is bombarding you with emails) that you’re interested and ask them to stop sending you their offers. This should definitely work.

It may depend on your broker! I see, few brokers are restricted even you have to submit your National ID card for using their demo trading service, but this type of Forex brokers are few numbers! And mostly, you’ll get flexible demo trading environment from maximum Forex broker!

I doubt they’d bother you. Some brokers though, do close demo accounts after a certain amount of time, a few weeks to a few months, so you might have to make another one after that.

No, for opening a demo you don’t even have to register your account with your data.

if your demo account will be active every day broker will not close such account, i started my trading with liteforex and they didn’t close my demo account during several months

Good brokers never do so! Actually, market maker brokers force their demo clients to invest money, they may call you for several times in a week! It’s my personal experience! By the way, you need to select which broker offers unlimited demo offer, since you don’t know how much time it will take to be a good skilled Forex trader!

Oh I would hate that! IMO an unlimited Demo account is very important as it gives you the time you need to test everything you want to.

Most brokers offer unlimited access to demo accounts. Of course if you don’t use it for several months, it should be deactivated. At least this is the experience I have with the MT4. I have friends who are currently using Agena Trader and there the demo accounts have limit for 30 days but I think this comes from the developer of the Agena platform and not from the broker. They have determined this 30 day access.
The reputable brokers will not call you to insist to open a real account, this is an annoying practice typical for market makers and scammers. Better to stay away from them. My advice is to open demo accounts with several brokers so you can decide which one will suit you best.

So did you open a demo account? I hope all is going well and you’re learning how to trade. :slight_smile:

You can open demo with different brokers it will give you clear idea how your live trading will deal by this broker. #0 days are less time period for practice . You need much time to trade on demo , Some brokers are strict to give you access only for 30 days. And some had unlimited access you can make much practice on demo as you wish.

Usually brokers don’t really bother you when you’re on their demo servers. I believe some would give you a call to check if you’re ready to fund and open a live account with them though.

Personally, I would recommend opening a tiny account (maybe $100 to 1,000) and practice on that account first. The thrill and emotional intensity of trading a live account (albeit a tiny one) would give you far more educational experience than trading a $1,000,000 demo account.

I used to open a couple of demo accounts with different brokers and never seen any time restrictions. I think, I can use demo for years for free and never carry about it.

I have multiple demo accounts on different platforms… Trading 212, Oanda & MT4… To me they are all the same as I’m still learning… Just try one out and see how u like it

did you trade with liteforex platforms before?

Yes, there are brokers that will call your phone regularly urging you to open a real account and deposit money. Stay away from such brokers. Other brokers will send your emails urging you to open a real account; this is okay as marketing strategy. At least it won’t bother you as much as phone calls. Instaforex still calls me regularly and it is annoying. A reputable broker will not disturb you via phone while you use a demo account.