Feb 15 2021 at 10:46
Yes Jake, the demo accounts do give an idea of the live ones. The market data is real.
Feb 16 2021 at 05:08
Trading can actually be very simple. You choose the medium you want to use for learning, and then get on with a demo account to practice what you’ve learned. The next step is the live market, for which micro accounts given by so many brokers like ic markets, fxtm, fxview, octafx, etc make perfect sense. So ya, using a micro lot is not really a choice, but a done thing if you want to be a successful trader. Bypass it at your own financial risk!
Feb 16 2021 at 07:58
Like the way you put it Halex :)
Feb 16 2021 at 10:17
@Halexpark Ya I agree, I would never advise anyone to start big. However my only bone of contention is these cheap brokers like xm, fxview who allow trading from even a dollar or 5? What justice is that gonna do? Trading with like $5 or $10 won’t even enable learning from price fluctuations as the swings won’t be visible.
Feb 17 2021 at 07:44
Hey Jake, these brokers are there just so common people can enter the financial world and see if they are even cut out for it. Don’t see anything wrong there.
Feb 17 2021 at 07:45
Darren, I wanna ask you one thing - do these low-cost brokers provide even the basic services - like real time data, latest news that matters and stuff ??
Feb 17 2021 at 11:05
Lorencecolling posted:
I’ve been using some low commission brokers for my trades which includes Fxtm, Fxpro and Fxview. The spreads are also pretty tight on these. So it’s a win-win for me. Otherwise I have seen that brokers with low commission give not-so-appealing spreads.
It is obvious that brokers would charge a commission for their services. But newbies should first compare the pricing and the spreads of various brokers available in the market and then choose the one which suits them.
Feb 17 2021 at 14:46
@forextrader777 That makes all the sense in the world.. sadly, newbies are also the first to fall prey to some brokers with hidden costs in the form of varying spreads that can go really high. Just curious... which broker did you start off with?
Feb 18 2021 at 04:23
Lorencecolling posted:
Yes Jake, the demo accounts do give an idea of the live ones. The market data is real.
Even I feel that demo trading is a great way of knowing whether a broker is worth your needs or not. And the best part is that the choices are not limited. You can always find a broker of your choice. You don’t need to settle for just anything.
Feb 18 2021 at 06:58
@Kroolsc Learning is not enough for a new trader. They need to do some practice (preferably on a demo account) to test what they have learnt so far. This can prepare them for some typical situations.
Feb 23 2021 at 10:02
I have been thinking about demo trading but after I read a few negative reviews about it, I never used it. But I think I should give it a try.
Feb 23 2021 at 11:38
advancedsmifser posted:
I have been thinking about demo trading but after I read a few negative reviews about it, I never used it. But I think I should give it a try.
demo trading in? are you talking about just demo trading or with broker?
Feb 23 2021 at 13:24
advancedsmifser posted:
I have been thinking about demo trading but after I read a few negative reviews about it, I never used it. But I think I should give it a try.
There will always be both negative and positive reviews. It is up to you what you want to believe. You better give demo trading a chance and then make your decision rather than depending solely on what others believe.
Feb 24 2021 at 04:51
Fabiandelph842 posted:advancedsmifser posted:
I have been thinking about demo trading but after I read a few negative reviews about it, I never used it. But I think I should give it a try.
There will always be both negative and positive reviews. It is up to you what you want to believe. You better give demo trading a chance and then make your decision rather than depending solely on what others believe.
Ya, different brokers suit different types of traders. You will have to do your own research and testing to find a suitable broker for your needs. You can check their features and see whether they match what you are looking for.
Feb 24 2021 at 06:53
I don’t think that a new trader should go for large investments in the beginning. You must wait for some time until you obtain enough knowledge to manage your investments and prevent risks.
Feb 24 2021 at 11:12
I don’t think any experienced trader would ever suggest you trade in the live market without enough knowledge. Your first step should be learning and practising. Once you think that you are ready to go live and risk your money, start small. That’s what I also did as a beginner. I started to trade with XM and Fxview because of their low account minimum requirements. This gave me the confidence to test my strategies in the live market without having to risk my money.
Feb 24 2021 at 12:34
leeson12 posted:advancedsmifser posted:
I have been thinking about demo trading but after I read a few negative reviews about it, I never used it. But I think I should give it a try.
demo trading in? are you talking about just demo trading or with broker?
I don’t understand...demo trading IS done through a broker right? How else does one do it?
Feb 25 2021 at 05:54
jamesmaxwell52 posted:
I don’t think that a new trader should go for large investments in the beginning. You must wait for some time until you obtain enough knowledge to manage your investments and prevent risks.
Large investments as a beginner might also mean big losses that may dishearten you as a trader. So, it’s better to keep the investments low and save yourself from unnecessary losses.
Feb 25 2021 at 06:38
Garyneville221 posted:jamesmaxwell52 posted:
I don’t think that a new trader should go for large investments in the beginning. You must wait for some time until you obtain enough knowledge to manage your investments and prevent risks.
Large investments as a beginner might also mean big losses that may dishearten you as a trader. So, it’s better to keep the investments low and save yourself from unnecessary losses.
I completely agree with you on this
Feb 25 2021 at 07:24
Garyneville221 posted:jamesmaxwell52 posted:
I don’t think that a new trader should go for large investments in the beginning. You must wait for some time until you obtain enough knowledge to manage your investments and prevent risks.
Large investments as a beginner might also mean big losses that may dishearten you as a trader. So, it’s better to keep the investments low and save yourself from unnecessary losses.
So true. It can be very useful if you can also learn how to do money and risk management.
