Hello - When is the best time to start trading with a demo account. I am completely new and am half way through the babypips school. Any suggestions for choosing a broker - im in the Uk if that makes a difference
I don’t know any broker, where demo-accounts and real accounts below the line are really the same.
So there is no big difference, if you’re going to the one or other broker.
But open 2 accounts with different brokers. Possible differences may be interesting.
I think where demo accounts can come into their own and offer some correlation to real-world trading is in contests, where cheaters get short shrift and the focus is on risk-managed strategy - and not on getting you to open a live account where your virtual ‘cash’ prize will be permanenently lodged (that’s not a prize, that’s bait…).
I really like the demo contests over at forex razor because the prizes are real cash prizes (ah no, I’ve never actually won, spending lots of thinking time in the disqualified zone).
The thing is, though, although there are rules and the contest police are burly and strict, at least I have a fair chance of winning (if I knew how to, like, actually trade properly). But I’m learning all the time. With luck… :41: