Good demo trading account?

[QUOTE=“Iztok V;688427”] The one &only, primary, basic rule for demo. Bravo. Majority of brokers that’s whay offer 50 or 100 k and not 500 or 1000 $ account where people can trade. They know why for shure.[/QUOTE]

I agree with forexcrisp. I am a newbie on forex. I started with 100,000 and I was able to make it grow to 110k. (Or so I thought haha). Opened my live acct with 200, and realized that I should have practiced with my demo for that amount with leverage of 10:1.

And yes, it did create a lot of problem haha. Anyway, still learning here. I lost 32.5% of my equity. I profit about 2-3% of my equity per day. But due to wring analysis, loses 2.5-4%. Hehe.

Anyway enough ranting. Hopefully, i make better trades as time goes by. And (crossfingers), recover the lost $70.

if you are bored with demo trading then there is a relief for you as Fort Financial Services offers you with no deposit bonus of $5. You can get it by simply registering and verify your account. You can also get the bonus 2nd time around if you loose it. The withdrawal is very simple and fast. You need to complete only 1.5 lots of trade to withdraw money.

Do demo accounts have the same spread and execution as the live ones of the provider? if yes isn’t better to open multiple accounts and test which one suits you more

Demo account is simulation account before we used real account. It is same with training before you entered into the competition. Good trading in demo account won’t guarantee your good performance in real account but good trading in demo account means good preparation before you entered into real account. Good system can be made in demo account so your trading result in real account will be easier to manage.

Quite to the contrary! The way FXCM weathered the SNB fiasco is a testament to their resiliency. In my opinion, of course. No need to argue the point, it’s not why I made this post here.

Going back to the original post of this thread; juiceman, you asked for advice and you are going to get it. Wish I had someone tipping with this advice a few years ago:

Open a live account and a demo account with FXCM! Use their Trading Station platform, forget about MT4! Words cannot describe the difference between the two, you must experience it for yourself.

You can open live account for a few hundred dollars, $400, $500, $600 … it does not matter. No need to use it right away. Also open a demo account with Trading Station for you to trade on.

Having a live account with FXCM gives you access to daily instructional videos from their education department dailyfx.com. The education and on-going training you will get from these guys is what you are after. I took two trading courses from known trading instructors (one of which recommended using FXCM) and I have no shame in saying that the training I got from the FXCM instructors is more comprehensive, clearer and being on-going, way more effective then both courses combined. This is true trading education and live training that works. If you are just getting started you need quality training more than anything else.

I might add, that I am not related to FXCM in any way, I’m just a very very happy customer.

Its good to trade in a mini real account especially with free money than trading in a demo account. But still you cannot learn properly if you will trade in a real money account, because your intentions will automatically turn towards earning rather than learning.

Totally agree with you. same point of view here

That’s interesting, I’ve never thought about this side of micro real account. I guessed that it’s actually better, because on demo you can’t feel anxious about trading and it’s a bit different than real trading.

Demo trading is only good if you are taking it seriously, but if you are only doing it for time pass, then you won’t be able to make proper progress in your trading career.

A demo account is very good place to start and practice. It also gives more information about a broker so you have to make good choice with a broker while before demo trading.

Same spread yes, execution - no. Some of the brokers tell you this. However, from my experience demoing a number of brokers seems to give you an idea how their computers execute the orders.

Every demo account is very helpful and it depends on us how we learn from this and improve our skills which will help us in real account and risk will be minimized and trading can be done safely.

I would recommend you to open a demo account with the broker you are planing to go live later on. However, do not spend lot of time on demo trading. It will be enough only to get familiar with the platform and all the tolls offered from it. When it comes to a real education, practice and strategy development you should go with a small live trading account.

100% second Rambo35

demo account is one of the good place to practice, but try only to use an small account for you to try first if your strategy would work, and if not. try to make new one until it get better to get good profit.

I heard good things about IG, but its not so simple to get an account activated. I had to send them copy of ID card, latest proof of address and they told me I am still to send them a 3 month bank statement. Thats madness. I just want to try & get used to their their trading platform.

You can use demo account from the broker you are thinking to go live with later on. Just some small heads up: Do not spend to much time with demo trading, it will be enough only till you get familiar with the tolls offered and how everything works. When it comes to developing a trading strategy you should do it with a small live trading account.

If you need to succeed in Forex trading then demo trading is very important. Demo trading can help us to find the right way how to trade successfully. We will get lots of information and know-how from demo Forex.We ought to examine know-how of forex and make development inside the trading .

Yes as a newbie I know a little bit about the reasoning behind demo trading. My question were more related to which broker makes it easy to open a demo account and have a good platform?

Demo is a place newbies must start and practice if everything would work. but in here you must use low capital so it will not hard for you if you encounter loss.