Demo vs Live Account

Trading with a live account, even if it's just £100.00 can be very useful as it shows how you deal with losses and wins. With a demo account, you never feel any real emotion. So once you've back tested your strategy, start with a low balance live account then once you can control your emotions then start with a higher balance.

the demo account is the exact replica of live account in terms of pricing and spreads. However for execution, in demo account execution takes place from the server side and in case of Live account execution takes place from the Liquidity providers of the brokers. the spreadsnon demo account and live accounts are also different sometimes with some brokers.

If you're a beginner never start trading directly on a real account. Use a demo account and carry on using it till you get consistent success and only then move to a live account.

Yes, if you are good in the demo and you know how to trade and how to manage your trades then you can also be good in live trading but in demo trading your real money not involved so it is easy but in live trading your real money involved and you can be emotional and can lose your trades. So always control your emotions when start trading live.

Unfortunately, at the beginning at least that is very difficult and almost impossible for most people to achieve. It takes time to learn.

yep exactly

You may miss some opportunities because you don't trust yourself enough. You may frequently adjust SL/TP because of greedy. When you move to live trading, that's the thing you need focus on and deal with which you don't fell that much important in demo.

From my experience with both live and demo i would say that demo is just a tool for learning on how the forex market works and to biuld trading strategies.
Where as in live its not the same as the demo we use, so i used the demo to try out new strategy and apply it on the live.

The demo account has the disadvantage of not being able to access reality in markets, while the live account is entirely possible. The server on the demo is not as stable as the live server

The demo is a good place to start but Your emotion play an important role in trading, you need to trade with money that won't give you a headache when you lose in a live account. Start small.

While you are practicing on demo account, you do not feel any risk but in live trading, you are gonna trade with real money that and if anything happens opposite of your expectations then you may get panic so it is advisable to start small and do not put capital more than you can not afford to lose.

I agree. Demo is great and it is necessary, but one can't stay on it indefinitely if they want to learn.

no emotions and no real money , but of course the demo is mainly considered as a best place for a knowledgeable trader.

Demo may not be perfect but it's the closest thing we have to trading on a live account and using demo is an essential aspect of trading that must not be skipped.

That's really very important information for new traders like us.

A demo account is a great way for beginner traders to gain the necessary trading skills, learn the features of the currency market and get acquainted with the provided trading platforms without thinking about risk, test a trading strategy or trading robots.
However, this practice has clear disadvantages.
First, you shouldn't judge about trading on a real account by trading on a demo. These are two absolutely different worlds.
Secondly, trading servers are constantly under the supervision of an experienced team of specialists, providing uninterrupted operation of servers and the program.
Thirdly, there are different psychological components: you trade with virtual money, so take it not quite seriously, and trading requires a conscious approach and considered actions. It doesn't mean that it is difficult to trade on it, but it is necessary to approach it responsibly. Factors of human psychology will prevent you from earning money when trading real assets, that is why it is better to start with mini-lots, small amounts, but with real money.
Another important difference between demo and real accounts is the speed at which positions are opened. On a demo everything happens faster and always at the price you wanted, but in real life everything is slightly different. There is a concept of the first market price. But this is the concept, the first market price has no clear definition or mathematical formula, moreover, it may differ in different companies.

Also, your order will always get taken on a demo account and that may not always be the case in a live account especially when there is low volume. This can become very frustrating for someone who has recently landed from a demo account.

Demo is fun but nothing close to real deal

If you want to have hands-on experience with live trading then you can start with a cent account. You'd be risking small sum that way.

I think it's good to learn the software at least, before opening a cent account.