Hi Guys
Just been wondering and if anyone can help. All brokers offer demo trading accounts, except tradestation…, and their offerings/promos vary.
How are the demo accounts in terms of the actual speed of transactions and the data update rate compared to live accounts? Are they slower because the live accounts take priority? Is it the other way around because they’ve already got your money?
Thanks
Demo accounts are very similar to live accounts but sometimes the spreads are differ & the connection can be off.
A1 connection kept for live accounts.
It depends on different brokers. for most cases, servers are different so they will not be exactly the same. however, you can know how it works for the exact broker and have direct feelings.
you can try the live account from a small amount of money if you find the demo is good
Well,this is my personal experience.I traded demo account at the start and it was working fine when i came to live everything changed the trade execution was very slow the spread was widening at the time of news and a lot of slippage.I contacted my broker about this problem he told me that they have different servers for demo and live accounts.Live accounts are traded by a lot of retail traders so sometimes trade execution is slow and a lot of slippage occurs at the time of news.I think that when you come to live from demo it takes a little bit time to compromise with all these problems.
I look for a demo acconut that doesn’t expire, anyone know of one?
What do you mean by the expiration here?
I don’t think good broker will provide such kinda demo accounts.
Oanda provides demo accounts which do not expire.
There may be some brokers which provide non-expire demo account but I am only familiar with OANDA.
For starters, if the demo and live account vary widely, then yes, it may be time to think of a different broker. Nearly all brokers provide demo account, yet to come across one who did not and usually, all demo accounts carry a time limit but this can be extended by a request to the broker. Do note, all demo accounts may be using a different server than the live ones…
yes, they are different for most brokers, so don’t be surprised if you find they are different, and don not deposit too much in the beginning when you open a live account in a new broker.
If you download the metatrader 4 app on iOS/android then it’s super easy to create a new demo account (vs on the pc desktop version)… it literally takes like 5 seconds! Just snap a screenshot of the credentials and you can use them to login on the desktop version.
If the demo account acts diferentely from the live one, if you can’t find some of the indicators you used in the demo, then there’s a REALLY big red flag right there. It’s not a break-dealer, there are some legit reasons why that can happen, but usually that isn’t a good sign.
I could state a few brokers here but that would be unfair given that there may be legitimate reasons as to why the demo is different from the live account. And yes, if the demo is different from the live account, you will need to review that broker carefully.