Hello! I have been using a demo account and am in no rush to open a live account until I graduate from the renowned school of Pipsology 
I would like to know; however, which brokers you experienced traders have had good experience with when transitioning from a demo account to a live account. I’m using the Oanda app, which I like, but I am also willing to give other brokers a try. Also, is the format for a live account identical to the demo? I would like to try a demo account where I can change the beginning amount and the amount of leverage to simulate, to the best of my ability, what the live account will be like. Thanks!!
I would like to ask first, since you’ve been demo trading with them how has it been with them. What do you think about their services?
Anyways there are definitely variety of brokers out there and good ones you can choose from.
I do like it a lot. It’s pretty user-friendly, even for a newbie. I just wanted to know if the interface is exactly the same with a live account.
there is any different between demo and live performance on a broker ? most of the time traders dont get comfortable environment in live that was available in demo.
it depends on broker own performance, generally by seeing demos performance there is no way to judge a broker .
Go to the brokers section of the Babypips forum, there is plenty of discussion about both good and not so good brokers.
when i first started ii had a great strat that was working really well on demo but as soon as i changed to a live account it suddenly turned on me, im not sure if it was a coincidence or if it was me and my mind set once it was real but i actually gave up. i am trying to get back into it now.
i find the format of going live from demo to live the same, i started in live on smaller lots sizes than demo until i was happy with my trades
As Forex is an OTC market, the demo execution for the particular broker is almost the same as on real account. The only aspect you should pay attention for is the spread size - sometimes it could be different.
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trading with smaller lot in demo is good decisions but as a newcomer always difficult to keep control emotions when trading , most of them trade over and over and lost equity at last.
i for all time use demo where i use all my trading strategies to see the performance how it works , its a best place to be a knowledgeable trader very rapidly just need regular practice.
Thanks. That’s what I was planning to do as well.
i love baby pips greatly for learning , for brokers question FPA is comfortable than others.
Hi @Forexuse. You can review the Broker Discussion section here where is a lot of information regarding many brokers .
First of all, maybe you should choose a type of broker - ECN, Market maker, STP/DMA… with dealing desk or NDD … Once the type and the Broker itself are chosen, practice on its demo! Try to test all its conditions, your strategy. In this way you will gain more experience and you will have more confidence in yourself in what you do. In my opinion the balance of the demo should be the one as you want to deposit.
To be honest, for me it is very important that the demo account conditions should be the same as the live ones ( I mean the pricing, the spread, commissions, swaps…).
After register for demo through the website of the broker, get familiar with the platform and start testing, with all the offered instruments, conditions, spreads… all necessary information… If it is necessary contact them through the Live chat.
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It is pretty much the same, just keep in mind then now the game gets real so take it slowly. Continue with the small leverages until you feel comfortable enough. But generally they have great live support so you will get a quick assistance if necessary.
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First of all, I would not recommend rushing to live account even after you’ve finished the School of Pipsology. Take your time to actually practice the theory you’ve learn, take your time to experiment, to look for strategies you like, to test them, to reject some and accept othets. etc. Take your time.
As for brokers, Babypips also has a broker section, I recommend going through it before you make any decisions.
both trading platforms are popular by the traders , baby pips has a section :broker Discussion " go there and ensure which broker is more appropriate for trading .
appreciate your message , this community is most popular just for learning.
When I first learn Forex, my mentor gave an explicit instruction to me.
Trade your Demo account like your Real account, and Trade your Real account like your Demo account.
This is to tackle your phycology during trading. The real account deposit you must CONSIDER it is disposable. Then you will have the same pace of trading it like how you trade using Demo account.
My 2 cents.
Demo and live accounts are not the same.
Demo accounts have instant execution,
With live accounts, you have market execution and there may be some latency in executing your order and you may experience slippage.
More importantly, your psychology is way different when you have skin in the game compared to when you dont.
Personally, I dont suggest trading on a demo account any further than learning about how to operate the platform in order to not make mistakes executing your deals.
It is much better to open a trading account with a small amount and trade micro lots.