i have been doing very well with the FXCM demo the last week or two, and i wondered if anyone can tell me if there is any difference between the live and demo versions.
will i find it harder to make money, larger speads or any other dirty tricks?
4 days and no replies? should i infer from this no one likes fxcm?
You could infer from this That I believe your exact question was just discussed:D
Try searching;).
Any way I have found very little difference. All brokers have lovers and haters if you really want to know open a small account deposit,trade,withdraw. Then you will know. It may take some time and a little money but if you are serious its worth it. That’s what it takes to find a good broker you are comfortable with.
thanks. ill try that.
Hi there,
The demo shows the same price feed as the live accounts, and the platform functionality is the same. The only thing you would find different is slippage. The demo is not able to replicate slippage on stop loss orders or market orders because the demo orders are not executed against actual liquidity. Please keep this in mind.
Let me know if you have any additional questions!
-Jason
Hi,
Don’t move to live, one week is not enough & don’t forget you are not freaking out to loose real money. Do that for over a month. Study all your trades. Put rules for leverage & rule that if you don’t respect them you will not move to live. Keep that challenge & learn discipline.
Don’t forget 90% of traders get burned fast.
Regards
13
I guess this still applies today, right?
Hi Brolin,
Yes, we try to make the demo accounts as close as possible to the real thing, but it’s not possible to replicate liquidity, since demo orders are not actually going into the market. In a live account, your orders will be filled at the best available price. This could be a better price (positive slippage) or a worse price (negative slippage).
Note that our Trading Station platform has a Market Range feature. This allows you to specify how many pips of negative slippage you are willing to tolerate. That means if you place a market order to buy EUR/USD at 1.3000 with a Market Range of 2 pips, the worse price you could get filled at is 1.3002. If the price goes any higher than that before your order can be filled, the order will be cancelled.
Jason
Thanks for the response. I didn’t know what that Market Range feature was, but it seems helpful.
is there any difference in spreads between demo and live?
Hi Margincut,
Our demo spreads are identical to our live spreads. One thing to note is that FXCM offers two types of forex execution, No Dealing Desk execution and Dealing Desk execution (already available to non-US residents and coming soon to the US), and that Dealing Desk execution provides spreads that are a pip lower as shown below.
You can click here to learn more about the two execution types to decide which one is the best suits your trading.
Welcome to the forum :57:
- Jason