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What demo account do you use?

  • #21
  • Oct 28, 2015 1:11pm Oct 28, 2015 1:11pm
This thread's so old that some of the "brokers" (excuse me: "counterparty market-makers") recommended in it no longer exist. Surprise surprise.


Quoting asrona
I have question that 4 digit and 5 digit demo account, which is better for new trader to practice?

Personally, I prefer 5-digit, but it isn't really important.

What matters is to open a demo account where you're actually going to trade with real money once you have a steadily profitable method, so that you can also use your demo experience as a familiarisation process with the broker, their execution, their customer service, and so on. That way, when you actually transfer from demo to real money, you do so with as few other distractions as possible and already being very familiar with all the mechanical aspects of what you're doing.

Those everyday practicalities can easily make the difference between overall profit and overall loss, and they often do.
  • #22
  • Oct 28, 2015 1:36pm Oct 28, 2015 1:36pm
There are loads, don't worry about what others use.

Find something that suits you, i.e charts and other things that are useful to you.

These are UK

http://www.money.co.uk/forex-trading...ex-trading.htm

Hope this helps

Happy pipping
  • #23
  • Nov 3, 2015 9:08pm Nov 3, 2015 9:08pm
Quoting Xela
What matters is to open a demo account where you're actually going to trade with real money once you have a steadily profitable method, so that you can also use your demo experience as a familiarisation process with the broker, their execution, their customer service, and so on. That way, when you actually transfer from demo to real money, you do so with as few other distractions as possible and already being very familiar with all the mechanical aspects of what you're doing. Those everyday practicalities can easily make the difference between overall...
Agree...
Demo account is a place where you're about to recognize the system of the (soon to become your) broker. You may move from one broker to another (by testing their demo account) and choose the one that suits to you.
  • #24
  • Nov 4, 2015 4:32am Nov 4, 2015 4:32am
Quoting asrona
I have question that 4 digit and 5 digit demo account, which is better for new trader to practice?
Interbank Currency Exchange is performed with consideration of the fifth decimal place. Therefore, quotes of the same ECN we will see exactly five-digit. Rounding up to four decimal places reduces the accuracy of the quotation, which could be useful for scalpers. The smaller trade size in points, the greater role is playing the accuracy of quotation.
  • #25
  • Nov 4, 2015 9:24pm Nov 4, 2015 9:24pm
Try to find a demo account that offers you to edit the capital for the demo account itself, make it equal as possible to your real fund so you wouldn't get surprised when trading on live account.
  • #26
  • Jan 28, 2016 7:12pm Jan 28, 2016 7:12pm
I use a demo account of instaforex. a demo account is needed for the trader, with a demo account so we can practice trading with a demo account is only good for using virtual money so that we can use to practice trading.
  • #27
  • Jan 29, 2016 5:57am Jan 29, 2016 5:57am
With demo account you don't loose any money. So you can try trading on demo accounts of different brokers and compare them. Then you will understand which one the more comfortable in using for you
  • #28
  • Feb 18, 2016 7:16pm Feb 18, 2016 7:16pm
Quoting Alexa000
With demo account you don't loose any money. So you can try trading on demo accounts of different brokers and compare them. Then you will understand which one the more comfortable in using for you
yes because only a demo account using virtual money so we will not lose money in a demo account. we could have as much practice in a demo account and now every broker has provided a demo account so that we can use a demo account to learn and practice trading
  • #29
  • Nov 21, 2017 4:50am Nov 21, 2017 4:50am
Quoting canados
I opened an unlimited demo account with strategy builderfx and also with spottrader but they don't offer a good service...chart blocks often What demo account do you suggest me?with metatrader4 charts thanks canados
I wouldn’t suggest you any limited demo service! In this case, you can test multiple trading platforms and then go with the most comfortable one! Practice your demo account for a long time!
  • #30
  • Nov 21, 2017 7:54am Nov 21, 2017 7:54am
Quoting GeorgeBaile
{quote} I wouldn’t suggest you any limited demo service! In this case, you can test multiple trading platforms and then go with the most comfortable one! Practice your demo account for a long time!
I guess after 11 years he doesn't care much anymore.
  • #31
  • Nov 21, 2017 11:03am Nov 21, 2017 11:03am
Quoting mw108
{quote} I guess after 11 years he doesn't care much anymore.
Hahaha, I hadn't even checked the date of the first post. I doubt anyone here did. And I was about to give advice, I guess they have either figured it out by now or given up.
  • #32
  • Mar 6, 2019 9:28pm Mar 6, 2019 9:28pm
old post but willing to add something. we trade demo particularly when a newcomer fro acquiring real trading experience , using demo is important or not its a different issue , sometimes i have seen most of us try to see brokers performance by using demo , according to me, this not possible , in live account brokers attitude we get completely different than a demo account.
  • #33
  • Jun 24, 2019 1:01pm Jun 24, 2019 1:01pm
What do you mean by which demo account do we use ? We do use account which was provided to us by our brokers, and that one to each their own, demo account should be free for unlimited time and then converted to something other I would say like live one
  • #34
  • Jun 26, 2019 1:52am Jun 26, 2019 1:52am
Quoting Infassen
What do you mean by which demo account do we use ? We do use account which was provided to us by our brokers, and that one to each their own, demo account should be free for unlimited time and then converted to something other I would say like live one
Yes; unlimited demo is the best choice; I see, few brokers are not offering limited demo service like 3-6 months demo!
  • #35
  • Aug 4, 2019 4:31am Aug 4, 2019 4:31am
there is any chance to ensure broker performance by seeing demos performance ?
  • #36
  • Aug 25, 2019 1:50am Aug 25, 2019 1:50am
it depends on your trading performance , generally difficult to ensure brokers attitude by using demo or micro. before using any broker shroud go through FPA where all kind of traders express their views about their broker performance.
  • #37
  • Aug 25, 2019 11:43am Aug 25, 2019 11:43am
I agree. Not to mention that ForexFactory too has a pretty great Brokers section where you can ask about opinions too.
  • #38
  • Aug 26, 2019 12:29pm Aug 26, 2019 12:29pm
Quoting mlawson71
I agree. Not to mention that ForexFactory too has a pretty great Brokers section where you can ask about opinions too.
Correct; the broker section of this forum is so much active & beginner traders will get valuable opinions in there!
  • #39
  • Aug 26, 2019 2:01pm Aug 26, 2019 2:01pm
I use IC Markets. One of my demo accounts has been running since 2015. There seems to be no cut off period and they are also a good broker which is a bonus.
  • #40
  • Aug 31, 2019 11:08am Aug 31, 2019 11:08am
Quoting glenno
I use IC Markets. One of my demo accounts has been running since 2015. There seems to be no cut off period and they are also a good broker which is a bonus.
Wow; almost 4 years!!! So; what’s your purpose of demo? Learning or implementing any new trading strategy?
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