Hi guys!! First post. I’m learning tons here at babypips school. I have opened 2 demo accounts. One on Oanda and the other on Alpari US.
Demo accounts are nice but when it comes to real money all things change. I want to start small that’s why I picked these two. I may be wrong, but there isn’t much of a difference between $20 and $100 or $1000. If your right you make money. If your wrong you lose money. Anyways, feedback about these two brokers would be appreciated.
If you’re right? Right about what? You can do better than Oanda and Alpari.
OK. Maybe I wasn’t clear enough. Turning profits on a demo account is nice. When it comes to real money there is always emotion involved. I’ll use a real life example. I learned to play craps on a quarter craps table. A man standing next to me was playing with $50 and $100 chips. I learned to play on $20, he was playing on $10,000.
The reason I picked these two brokers is because I can start small with real money. Lessons are learned on $20 or $50 instead of $500 or $1000. I’m just trying to limit my exposure. If there is a better no minimum balance, flexible lot size broker I’m all ears.
Sure there is a difference ratt30 between opening an account with $20 or $1000. With $1000 it’s not only that you can trade bigger amounts but for sure the risk management is better. For example if you trade with $20 account, you trade on EUR/USD, buy/sell 1 micro lot of 1000 units with leverage 1:100, the market goes 10 pips against you and you close the position - this is 10 bucks loss which is -50% of the money you had before. This is not the case when you have $1000 account. With the higher account you could bear the volatility of the market. So yes you could try the performance with a small account but trading real with so small account means only loses most of the time.
Yeah, it be really hard comparing demo with real account, you get spiked when you see the stark difference between them, i can say thank you to my broker Profiforex, they really tried with their demo account, they give give demo trading manually, which can be a big help in trading real account.
This is true! demo trading is very important to be successful in trading real account. By the way i use this broker too, and their speedy execution makes it all interesting while trading there. But at first i was really confuse with the loaded stuff in the demo platform, and sometimes i do wonder if we really do need all of it…