Demo is important for everyone. The use of demo is to test your strategy. To. Find out the winning odds of a strategy you have to test it on demo first. Another use of demo is to get ideas about a broker's platform. Make your strategy perfect on demo then apply that strategy on live account.
I recently came to forex trading, but what I want to say is that a demo account is not a panacea, I have been convinced many times that what works on a demo account may not work in a real account, and the market always behaves differently. So do everything on a demo account, I'm not in agreement.
Thanks to the demo account, beginners who will start creating their trading strategies can test it on it, and if the demo account is very similar to a real account like that of Amarkets, then there will be no problems with this in the future.
@Ezereombre yes demo is absolutely essential but need to use in a proper way. We can't take 1000000 balance and trade. We have to treat demo like real account. Take balance 200$ to 600$ and learn risk management.
UweMoench posted: @Ezereombre yes demo is absolutely essential but need to use in a proper way. We can't take 1000000 balance and trade. We have to treat demo like real account. Take balance 200$ to 600$ and learn risk management.
That is so true, the biggest mistake that a new trader makes on a demo account is trade millions on a demo when in reality he will be using only a few hundreds dollars out of his pocket for trading.
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