Initially, one should practice on demo accounts, it will help you in making aware of the market as well as of the platform. Once you are prepared you can go with placing live trades.
Don’t compromise with demo trading else you will lose everything.
I will always suggest a demo account over live account for practise until and unless you have a lot of money to spend. A person practise to improve or during the initial stages. So the chances are 80% you lose and 20% you win. For this I will never suggest someone to use the real money.
I would advise practising first with a demo account, and after making consistent profit in it, then it would be good to switch with a real account for live trading experience.
Definitely the demo account for practice. Even experienced traders would prefer to practice their new strategy and skills using a demo account and not take risks with real money just to practice few trades.
Obviously, it’s the demo account for practice. No one would want to risk their money on something they have never done before.
The demo account is the best choice for practice because you are at liberty to take any risk and not lose any money. But the real account requires real capital to start a trade.
I would use the demo account if I were a beginner to learn more about live trading and get familiar with their platforms.
Even though experienced traders use real account to make money, they also use the demo account to build new skills and strategy.
Honestly, it all depends upon person to person. But I feel, demo account is the most appropriate when it comes to practicing. Live account can cost the trader a great deal of money if the trader has just started and has no idea about how things work in here.
real account with little depoist is a good idea
Yes it is good idea to practice in real account with small investment but a trader will be bound to trade in mini lots with it. First he should try on demo to see effects of different lot sizes and risks so that he will came to know how amount will be treated in trading. after it he can use mini accounts to face live market.
Use the demo account first to build strategy and practice developing skills once you have gained enough knowledge in demo trading in a real account to experience live trading but trade as low as possible to reduce the loss value.
Yes, a demo is the perfect platform to start trading with, you can make your strategy here without risking the real money.
Go live if you’re looking for an adventure. Do share how it feels to lose money.
You shouldnt be demotivating people here. Yes forex is not as easy as its seems like, you gotta well aware of things before you stake your money, but if your put in the right effort, results would be good.
It is completely your call. However, I feel that the best way to learn trading is to practice it on the demo account and be as alert as you would be on the live account. I am not really a supporter of the idea of spending even $100 to practice the trade and get a hang of it. But surely, you should do whatever works the best for you.
Instead of 100 go for micro trading with say 5 or 10 USD. The money will be real, and at the same time very nominal so the loss won’t hurt you.
No risk, no fun? Bad drivers there I am afraid. Gambler’s attitude.
it has to be a demo without a doubt
Yes it is definitely exciting to trade on real account without having trading experience. But jumping right to it would be a mistake. Trading on real account demands a lot so one should practice on demo account for at least one-six months to test if their trading strategy actually works. When you are sure it is working for you, you should move straight to the real account without giving a second thought to it.
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True, demo is a must, even though real money is not involved here. Yet it teaches a lot.
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