Hi All,
I am looking at starting out on a positive note with FX trading.
As I have been reading it sounds like a lot of trading platforms are MT4.
I want to know what are the best MT4 trading platforms to use as a DEMO and then can lead into LIVE trading. Your input is very much appreciated.
Thanks
MrParker
There is only one MT4 which is offered by almost every broker. There is no such thing as a good demo account in my opinion.
You can use the MT4 for demo trading. Newbie need to do to be able to build a demo trading strategy. Thus will be able to achieve a profit.
The MT4 is the same for demo and real in terms of how they are set up. But beware about differences in slippage and prices between demo and real accounts, especially in more volatile times.
Hello Mr. Parker,
The MT4 platform is just one what differs is in the respect of trading conditions like spreads, technology etc provided by different brokers. so you can try any MT4 demo account provided by the brokers.
however, i would like to suggest that if you are a newbie, you should go for the social trading first, you can open any demo account with the brokers offering social trading program. there you can observe other traders and learn their strategies. that way you would learn various things about markets and trading. so in my view you should go for the social trading and open a demo account with brokers offering social trading program
Just an addition to what I mentioned earlier - do your research on the brokers themselves and keep away from scammers that also use MT4. This forum and the web in general have several up to date sources of information regarding this.
Hi thank you for this will take a look at the broker list once I find it.
MT4 are all the same for demo or live trading. I would suggest you to start with demo only to get use to the platform and all the tools it is offering. When it comes to developing a trading strategy you should do it on a life trading platform other vice you are going to face a big problem. If you develop a trading strategy and it works perfectly good on demo platform, once you move to a life platform the strategy is not going to work.
The reason is pretty simple: Developing strategy with no personal money attached means the psychology factor is excluded, factor which is playing main role in live trading.