Unlimited Demo Accounts

Questions:

I believe I have found three unlimited/unrestricted demo. accounts.

1.Are there any pro/con on these?

2. Are there any other ones?

a. http://www.strategybuilderfx.com/

b. http://fxtrade.oanda.com/fxgame/

c. http://simulator.investopedia.com/

I have read Nathan’s post;
http://www.forexfactory.com/forexfor...ead.php?t=7214

“Question Lost...?”
. . . . . . . . . . . . .
“Well I got interested in Forex when I saw some infomercial. Since then I have started a demo account and soon to open a mini account to take advantage of a promotion. Even if my first real trade happens a few months from now I just want that account ready for me when I am ready. . . . . . . . . .

In all honestly I am completely lost. I do not know up from down, that could be bad, yes? I really do not know what is going on or where to go from here. . . . . . . . .”

I strongly relate to those posts.

I’m completely lost

The message that seems to be coming through is,

practice, practice, practice.

Hence, the questions.

Any response very much appreciated, thank you.

Hi there layer,

In my personal experience oanda demo is good. It never expires and the behaviour is the same as with their live account servers. I mean, position, stop loss, target profit fillings ... What I also like is their flexibility with position size. After some demo praciticing I switched to live trading, put some money down, and start trading with micro lots (1 pip = $0.10 approximately, you can take it down to $0.01). This way you get the best of both worlds: you get to practice with the real money (which is waaaaay different then demo, and waaaaay better coz you get to live through all those feelings, fear, greed, euforia, desperation ...) and at the same time you don't loose your money. That would be my suggestion: practice for some time on demo, just to get the basics on forex and stuff, then when you find a system that works for you switch to live acc. but trade micro lots.

strategybuilderfx is also a good choice for charting. Their trading platform MT4 is very good, lots of indicator and systems developed for it and you can get them for free. I wouldn't go live with them, just keep them for charting and testing purposes.

cheers

branac

It's important to remember the main purposes of a demo account. They are to 1) learn the movement of the market 2) evaluate a system and, very important 3) get to know how to use the platform.

When I first started trading, lack of familiarity with a platform cost me a number of pips. I'd encourage every newbie to download platforms from all your prospective brokers. Check the platform out, see what you like and don't like about it. Place a few trades, not with the intent of figuring out the market, but in understanding how to place trades in the platform. Narrow down your list of brokers and use those platforms more heavily.

Also, you mention StrategyBuilderFX up there. You really should just say "MetaTrader 4". You can get server files from a host of brokers who support MT4 and open demo accounts with them right there in the platform itself, without having to download software from each one. There's a sticky post in the MT4 forum on how to do this (MetaTrader Server Files).

Wow, just have to love it when people quote you on your ignorance, thanks.
Hehehe.

I can not comment on the 3 you have posted, but with my broker, once you open a live account with them they give you privilages with the demo. First off I do not think it ever experies. Two, you can reset the amount to anything you want (I think) and have them change the leverage and also get them to destory all those logs ^^;

I found it quite usefull that I get a fresh start at will. Well just say my last few weeks of trading have been at the alpha stage. Now I am moving on to beta, a more serious buckle down approach...

I would recommened some sites, but I think it is agaisnt the rules to make such soliciations without having so many posts. Spam is bad ^^;

However, ill PM you with maybe some usefull links.

branac stockwet

Much obliged.
Got a lot of reading to do.

Thank you.

Appreciate your post, nathan,
thank you.

I have been having problems with the strategybuilderfx demo the past few weeks anyone else? A week ago the data feed stopped...now I cannot create a demo account at all.

Yardie, I have the same problem. Over the weekend it installed the most recent update. Now, it starts up, but I keep getting "No Connection"

I have the same problem with StrategyBuilderFX demo. The platform starts up, but keeps getting "No Connection". I've uninstalled & re-installed several times, but still got the same error "No Connection".

Had the same problem today.

Went back to my reading for awhile and the problem took care of itself.

I don’t trade on MT.

I have tried all sorts of trading platforms, stock, commodity, and forex...never had any luck with them using a slow dial-up connection, always problems!!...A DSL or Broadband IS NEEDED, a few weeks ago I finally was able to get DSL, tried it on a demo forex account with some success, but the charts don't always do what they're supposed to do..still, looks like I can at least get my trades thru when I want to.