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Is a demo account really neccassary?

Aug 05, 2012 at 07:44
4,714 Visa
159 Replies
Medlem sedan Jan 11, 2022   45 inlägg
Mar 22, 2022 at 07:41
A demo account is needed in the beginning. You need to spend some time understanding the market and when you can do that without having to risk your money, I think there is no reason you shouldn’t do it.
Medlem sedan Nov 02, 2021   73 inlägg
Mar 25, 2022 at 04:39
They say ‘Practice makes a man perfect’, and there is only one place where forex traders can practice their strategies and obtain new knowledge about forex trading, i.e., a demo account. Since forex trading involves money, it is better to practice as much as possible instead of rushing towards trading a live account only to blow it eventually.

Medlem sedan Jun 12, 2021   132 inlägg
Apr 03, 2022 at 09:54
instead of demo sometime it is more appropriate to trade in a micro account to increase trading performance very rapidly. i like this strategy
Medlem sedan Mar 22, 2022   25 inlägg
Apr 04, 2022 at 05:51
There’s obviously no compulsion but it’s good to practice on a demo account before trading in the live market. Along with clearing your basic doubts, it builds confidence in trading and prepares you for the live market.
Medlem sedan Dec 21, 2020   36 inlägg
Apr 04, 2022 at 06:39
It is completely on you though but the question is, are you really confident to straight away jump to live trading?
Medlem sedan Mar 11, 2022   38 inlägg
Apr 04, 2022 at 07:59
Yes, demo trading is necessary in a way that you get to experience trading before you start risking your money. I believe it’s better than going directly into the live market and being clueless about using a platform and trading tools. Practising on a demo account will help overcome the barrier.
Medlem sedan Mar 23, 2022   26 inlägg
Apr 12, 2022 at 06:52
I would say YES. Demo accounts are quite necessary for beginners who are yet to understand the functioning of the forex market. Along with that, they fill new traders with the confidence to execute trades in the live market.
Medlem sedan Oct 29, 2021   70 inlägg
Apr 14, 2022 at 04:57
Trading can be really tough for the beginners and that is why you need to have a demo account. You will be able to see how the market works and you will also be able to see how the strategies work in real time. This is a great way to learn more about the strategies and to also test them out. You have to have access to the trade simulator in order to get the most out of your trading
Medlem sedan Mar 24, 2022   56 inlägg
Apr 18, 2022 at 07:31
Yes, all the demo accounts are practice accounts and are designed to help you play around with the trading process, which will help you know about how a real account works.Demo trading is also a very good way of learning how to trade and gaining confidence.
Medlem sedan Mar 21, 2022   47 inlägg
Apr 18, 2022 at 07:40
Yes it is. Demo account is the best place to test your skills and knowledge. It will help you get a feeling of how the market works and what to expect. If you use a demo account as a practice ground, it's going to benefit you a lot.
Medlem sedan Mar 17, 2022   47 inlägg
Apr 18, 2022 at 07:45
I would nod to this as I believe that it would be stupid of any trader to jump into the market without making use of the free tool to obtain practical knowledge. It’s good to be confident about the lessons you have taken but practising on a demo account for a while would only help you.
Medlem sedan Apr 14, 2022   32 inlägg
Apr 20, 2022 at 04:01
Demo accounts can provide some benefit to new traders because they allow the trader to become familiar with trading software and get a sense of how the market works. Also, it gives access to market charts, trading signals, forex news, and more.
Medlem sedan Jun 12, 2021   132 inlägg
Apr 21, 2022 at 08:53
now i am trading in demo where using high leverage to see the performance how it works.
Medlem sedan Apr 14, 2022   32 inlägg
Apr 23, 2022 at 09:35
Yes, it is definitely necessary and beneficial for new traders to get familiar with the platform because it gives a real-life trading experience. Also, it is risk-free, with no real capital involved, and the best tool to develop various skills and strategies.
Medlem sedan Jun 12, 2021   132 inlägg
Apr 25, 2022 at 09:41
agree with your terms.
Medlem sedan Apr 14, 2022   34 inlägg
Apr 25, 2022 at 10:08
Yes, a demo account is really important if you want to trade in forex as this will help you to get familiar with the market. Once you get the basics all cleared, then you will be prepared enough to trade through a live account.

Medlem sedan Oct 27, 2020   18 inlägg
Apr 27, 2022 at 06:22
To some extent, it is. You need to understand the basic functions of the market and trading platforms before you use your real money. This is exactly what a demo account helps you with. But don’t depend too much on your demo account results since it’s just a simulator.
Medlem sedan Mar 28, 2021   617 inlägg
Apr 27, 2022 at 06:37
Davidfx89 posted:
right now using demo and using price action trading strategy in there to see the performance how it works.

Well said, actually Price Action trading strategy is so powerful technical aspect to follow! In my live trading, I also use the PA trading! Besides, demo account is the best place to practice with!
Medlem sedan Apr 14, 2022   24 inlägg
Apr 27, 2022 at 06:44
In a way, YES! It’s a fact that you may not get live trading experience on your demo account. But it is also true that you can invite huge losses if you don’t practice on a demo account where you can learn how to use trading software, how to execute a trade, how to make settings, etc.
Medlem sedan Jun 16, 2021   111 inlägg
Jun 16, 2022 at 05:10
It depends but I personally think that a demo account is necessary as it gives you the experience and overall view of the market without you losing as much as a cent.
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