Is there any difference when trading in a demo account vs trading in a live account?
If I use it to make knowledge, I have to use the demo platform but if I use it to make money, I have to do live trading. However, it is not that knowledge cannot be acquired in live trading. However, developing skills in live trading can be risky.
Hi,
Remember when you had driving lessons. Use the demo account to “pass your test”, and don’t start your practical until you have done the theory test (Baby Pips School of Pipsology.
You can even continue the demo account into advanced driving skills, by testing your strategy and trading plan, backtest, forward test, until you are sure your plan will result in a positive outcome (no accidents that will put you in hospital). Then trade like you drive at 70mph on the motorway.
A lot of differences between those accounts. One is meant for practice and the other one is meant for earning.
A demo account is the best option to learn forex properly.
Demo account for practicing
Everything, do not think real is anything liek demo!
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A demo account is the same as a live account mechanically speaking, however, people don’t realize that there is a psychological difference.
No matter how seriously you take demo trading, it’s still just pretend money. Since you don’t have to worry about real world consequences, it’s easier to trade since you have nothing to lose.
Once people switch to a live account, the pressure sets in because they can really lose that money. So the strategy that was working with the demo may fail if you start exiting to early or making other mistakes due to the newfound anxiety or fear of losing money.
Demo accounts are still one of the best hands on tools for beginners, just keep this in mind once you switch over so you don’t make those mistakes.
A yes. It really is risky to trade live while still learning. I was wondering if there was any difference in terms of price movement and other things for demo and live.
This is actually a great question. I wonder if brokers tweak this experience so it makes it seem like it’s profitable… 
The major difference I found was the price difference in live account when compared to the demo and when trading live it was not easy as the demo trading.