Does it matter who I open a demo account with?

Beginner Questions
1

I am planning on using Forex. com as my broker, but they have a 30 day limited demo account. I plan on using a demo account until my system is constantly profitable, and I have a feeling that it’ll be way more than 30 days. So can I use a different MT4 broker like FXPro then when I go live open an account with Forex. com?

2

Of course, what makes you think you wouldn’t you be able to?

3

Was unsure if the little details like the spread and differing prices between brokers would affect the results of whatever system I develop. Also not sure if execution time would differ between brokers.

4

Ah, I couldn’t pick that up from your original post. If you are trading on a demo you won’t have slippage, so that is a factor in demo vs. real, even if your demo and your real account are with the same broker.

If you’re trades are scalping a couple pips then slippage and spread will have a greater affect. If you’re trades are 50+ pips or higher time frame then the differences are negligible. If your trading system is greatly affected by fractional pip differences or slippage speeds between brokers, it’s not a good system.

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5

So then if I’m swing trading, I won’t be affected?

6

It will be negligible

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7

Hi @Filnwazi,

We are happy to extend your FOREX.com demo account for as long as you need. The 30-day limit is just a default setting. Simply send us a private message with your demo details.

8

Yes I think you can using another broker to practice with demo account, because before spent real money indeed will better if keep practice in demo account until finding and make sure with trading skill already profitable, it will help to minimize the risk, but if broker only giving limit 30 days trading in demo, this is not enough time, many trader fail less than six month

9

I don’t think that it matters who you open your demo account trading account with. The most important aspect is that you give demo trading the respect it deserves. I am sure that you will reap the results if you give it time. You need to remember that there is no harm in doing demo trading.