I’ve noticed a few times with Alpari’s demo account, when i try to close the position if it shoots up into good profits, theres a delay on the system when i click close. Sometimes it says ‘cant connect’ and other times it’ll just hang, so by the time i can click close again the price has come back down, and you lose out on several pounds profit.
Is this something that would happen often in a Live account?!
It will always happen with all brokers, what you need to ascertain is things like, how often does it happen, and if it affect your profits, in your case it probably does if you’ve had the problem in demo.
From my experience Oanda is the best execution I’ve seen on the whole, I traded with IKON Royal for a while and I was also very happy with them, until they stopped retail accounts in the UK
ActiveTrades I was disappointed with, and I never opened an account with Alpari because their demo was so slow, however it could be all change by now, what may be true 6 months or a year ago my look like a total lie now.
I have never had such problems, I am using ODL broker. I enjoyt it, very professional and serious. Never had any problems at all during last two years, I have another friend who is using them for nearly 10 years and no problems at all. I recommend ODL for others to for Live accounts.
Ok cool, well i’m really new to this, so i’m just checking out different platforms for now. Alpari being one of them. Just find it rather annoying when you could make +40 profit, but by the time it executes, it’s dropped to +7 or something. I’ll check out other brokers in time, and see which suits best.
Well you should learn from your own experience . Trading on demo or live is not easy to understand for beginners . First they have to know what trading terminal is and how to use it. I take 1 week to know about demo accounts details. then I started trading with one pair Gradually go to other pairs and use indicators as well as analysis techniques. There are variety of brokers who offer you demo trading .accounts .
First study a latest edition forex textbook. Might not stop you free making silly mistakes but it should be your first step for beginners and read as many times as possible.
As you study, get a demo account to practice what you’ve learnt.
If you are able to design a profitable trading plan for yourself and trade your plan consistently. Get a Live mini account with $200-$500.
It is OK to blow up your first Live account. Forgive yourself, don’t give up and improve your trading skill.
For beginners demo account is a good way to learn. Even for backtesting it is a useful tool for both newbies and experienced traders. But I think even live trading also teaches you valuable and important lessons.
This is a common occurrence. Most Market Makers and/or bucketshops would have two separate algorithms running on their live and demo platforms/servers.
Thus - it’s easier to win on demo and hard to win on live.
That’s just to make sure you open a live account faster and lose your money => MM’s profit.
My suggestion is to try and find an STP broker with the same conditions for demo and live accounts.
The other part you’ve said it yourself:
So, yeah. There’s that as well.
I would not advise anyone to do it. Unless they have spare cash just burning a hole in their pockets and they don’t have anything to do with them.
If that is the case - knock yourself out. Otherwise, it’s always better to work on your trading on a demo until you get consistently profitable results and build at least 2-3 strategies. Then diversify your portfolio as much as possible. Hedge your bets. That way when one currency pair crashes the other will rise and so on. The hit will not be as hard
If you want to learn, then demo account trading is the best platform for you. I don’t think that there is a better platform created than demo trading. Demo trading helps you in learning about forex trading without the cost of a single coin. You should always do demo trading before investing in the real thing.