Question about demo account

Hey guys. I heard about Forex like month ago and i wanted to learn more about this magnificent world. After my research, i found Babypips and started with my education. Now, i’m still in Preschool phrase, so i just wanted to ask, is now a good time to open my demo account and try to figure out how things exactly works? Or should i wait to collect more knowledge before demo?

If you’re still in pre-school, I say do not open a demo account yet, there’s so much more info you’re going to need to know. And secondly I opened a demo account on and they only give you 30 days to demo. and you cannot renew. babypips suggests you demo at least 3-6 months before opening an active account. And some of the forums are really confusing, so I’ll just wait until i completed the course. But that’s just me.


Hi, I think you should finish the course then an open demo account. It is like a driving license course, first, you need to learn theory, then you have practice in the car :slight_smile: Regards Greg


This question has been asked multiple times in the past. If you search 'when to open a demo" and keep it at relevance. You’ll come across some threads with excellent answers.

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What’s the worse thing that could happen when trading with a demo account? NOTHING, you can’t lose real money.

Personally, I just started learning the course on babypips about a week ago and I opened a demo account the very next day on metatrader 4. At first, I’ll open a trade just for the sake of trading, no analysis, just buy or sell. My aim was just to open a trade, not to make profit. As I study through the course, I learn new techniques and better my trading skills. I started fundamental analysis, support, resistance, trends and channels. Moved to candlesticks. As of now, I am a better trader than I started. The demo account gave me a practical experience being able to apply what I learn even at a very early stage.

When you learn too much of theory without practicing, you tend to forget some of the theory when you start to practice. A demo account doesn’t hurt, maybe a little, when you start developing bad trading habits but this only happens if you don’t want to learn.
This is my 2 cents.

Thanks for sharing your experience, can you tell me which broker you choose for demo account and training?

I use Hugosway-Demo as my broker.