How long on a demo account

You should not join live trading unless you can consistently make a profit in demo trading. If you earn a consistent profit in demo trading then you should open a cent account and trade there.

'Demo trading account is not a race. If you are a newbie, take as much time you require and focus learning on how to trade, the longer time is taken to practice in the demo; the clearer will be the basics.

However, for advanced learning, there is nothing better than live trading. So take your time on demo and when you have gained enough confidence and skills open a live account, preferably a micro a/c and start trading there.'

I agree with those who say you shouldn't stick to a time limit on demo trading but rather measure your progress based on performance, and move on when you are consistently profitable on a demo account

You can go upto 4 months on a demo account and if you think you need more practice, you can also go for about 6 months. It depends on how proficient you are with learning.

I use demo account for more than 6 months to practice trade but even after opening live account I still use demo account for testing new strategies.

It mostly depends on the level of focus. I was on a demo account for probably three months and was confident enough to move to live trading because I was thorough with the basics.

Sarjohn posted:
I use demo account for more than 6 months to practice trade but even after opening live account I still use demo account for testing new strategies.

I also do the same.

BarronLucas posted:
It mostly depends on the level of focus. I was on a demo account for probably three months and was confident enough to move to live trading because I was thorough with the basics.

Definitely, it’s all about one’s capability to learn as quick as possible, even I spent somewhere around 3 to 4 months on a demo account.

A month for me, I honestly started getting bored with trading paper currency and was just raving to go. In hindsight, not sure if it was a wise decision by any means.

i used demo account for approx. 3months.

Ericdier752 posted:
A month for me, I honestly started getting bored with trading paper currency and was just raving to go. In hindsight, not sure if it was a wise decision by any means.

Same here, my demo account was deactivated by my broker after a month and I had to redo the whole process again, instead I opened a live account then. Maybe it was a broker tactic to augment my process of putting in real money.

Losing money in the market is a common matter. You have to make a good plan to deal with your losses. You need to practice more and more to m minimize the risks and make money from this market.

As long as you can Keep it alive and profitable in general for a year at least.
The. Welcome to the real account.

jamesmaxwell52 posted:

Ericdier752 posted:
A month for me, I honestly started getting bored with trading paper currency and was just raving to go. In hindsight, not sure if it was a wise decision by any means.

Same here, my demo account was deactivated by my broker after a month and I had to redo the whole process again, instead I opened a live account then. Maybe it was a broker tactic to augment my process of putting in real money.

O ya? I have used many demo accounts: pepperstone, oanda, fxview, xtb, swissquote, are some that I liked, never faced this.

jamesmaxwell52 posted:

Ericdier752 posted:
A month for me, I honestly started getting bored with trading paper currency and was just raving to go. In hindsight, not sure if it was a wise decision by any means.

Same here, my demo account was deactivated by my broker after a month and I had to redo the whole process again, instead I opened a live account then. Maybe it was a broker tactic to augment my process of putting in real money.

And how did that go for you?

Hello, I live in the United States. It seems as though we have few Forex brokers here and it also seems that most overseas brokers won't serve U.S. citizens. I would need a broker that will allow me to have a demo account without a time limit and that that demo account would allow full use of the MT4 trading platform. The first broker I had would only allow 1 month and the demo account did not seem to have the full use of the trading platform. Can anyone recommend a could broker for a novice trader like myself?

jamesmaxwell52 posted:

Ericdier752 posted:
A month for me, I honestly started getting bored with trading paper currency and was just raving to go. In hindsight, not sure if it was a wise decision by any means.

Same here, my demo account was deactivated by my broker after a month and I had to redo the whole process again, instead I opened a live account then. Maybe it was a broker tactic to augment my process of putting in real money.

Fair play is hard to get. Better to always use a renowned broker. I researched a lot and then made demo accounts with fxview and cmc markets, turned out fine for me.

Ericdier752 posted:

jamesmaxwell52 posted:

Ericdier752 posted:
A month for me, I honestly started getting bored with trading paper currency and was just raving to go. In hindsight, not sure if it was a wise decision by any means.

Same here, my demo account was deactivated by my broker after a month and I had to redo the whole process again, instead I opened a live account then. Maybe it was a broker tactic to augment my process of putting in real money.

And how did that go for you?

How do you think?! I blew my account initially.

When I started with them, I practised for about 4 to 5 months before moving on to a live account. It took some patience but I learned a lot from them.