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Demo Forex VS Real Forex

  • #21
  • Apr 6, 2007 8:43am Apr 6, 2007 8:43am
Hi, I've played with the Miniforex from GCI.

Their demo is no way close to the real thing!!! An advice, do not spend time in their demo.
In the demo :
- when you buy you get the price you see on the charts
- when you buy it is done quickly and you can sell just after.
- when you sell you sell at the price you see on the charts.

In reality :
- when you buy, systematically, the price will be 10 or more pips over the price you see in the charts. The system tells you 'the price has changed do you want this new price' and always it is 10-15 pips more than what you really want! Worse. When I was trying to buy NASDAQ, the message asked me to buy for 20 pips more, pretending the market changed. But in the future, the chart never reached the level they wanted to sell me. So when they say the market has changed : it is wrong. Sometime, the market nevers goes where they want you to buy and you are stuck...
- when you buy it may take 30 seconds before you get an answer. During this time, the platform is stopped. Nothing works. If you want to cancel your order because it is taking too much time, they refuse and your order is taken in account. In 30 sec, things changes...
- when you sell, you have the same slippage as when you buy but in the reverse order : I want to sell at 50 because I want to make some gains, they say 'the market price has changed : do you want to sell for 15?". Hey!!!! I've lost a lot only buying and selling 1 lot, just because if you add the upslip and downslip, you need to do 20 pips to win anything on the EUR/USD. When they pretentds to be 3 pips : they lie.

One more thing, in the demo the curves are totally faked. They are doing sin() on the exotic devises (SEK, NOK, ZAR) so it is easy to by low, and sell high. In the reality : THIS DOES NOT WORK!!! I've compared the charts in demo and real account, they are differents, so the strategy cannot be trained in demo mode.

My conclusion about GCI is that they are thieves. They are in Belize, they bank is in Germany, they refuse Canadian, US customer, they processing credit cards thru Paypal.
Worse, they lies in their demo to make you think you gona be rich, and they cheat in the real accounts to ripe your money.

That's it for my GCI demo vs real account.

I hope people will find it usefull and will not lose their time and money as I did...
  • #22
  • Apr 6, 2007 9:20am Apr 6, 2007 9:20am
Hi Nikko - sorry to hear about your experiences. I haven't traded with GCI, but I would have reservations about opening an account with a forex broker headquartered in Belize, as tracking them down if you run in to problems is going to be hard (Google 'Refco' if you don't think this can happen). A quick browse through the web site shows missing pages (e.g. follow link to 'currency options'), which suggests a worrying lack of professionalism.

On the other hand, I see that you posted shortly after the NFP release, and it's actually not that unusual for even the reputable brokers to introduce 'slippage' to their prices during major news releases.

At least you haven't blown up your account yet. Why not pull out your funds from this broker now, take some time out from the market, and open an account at one of the brokers who have established good reputations on this forum?
  • #23
  • Apr 6, 2007 11:08am Apr 6, 2007 11:08am
Quoting nikko
The leverage is 200.
When I was at 50 000 I was buying 100, and selling 2min after when it was going up.
At 500 000 was buying 500.
IT grows fast. But if I lose I don't wait, I sell.

I've made some loss of course. But I've not been in a rally at all, just buying selling...
what do you mean by 100 and 500??? hope not lots )
This seeams pretty impresive going from 18.000 to 2.6 or 2.7 mil, but from what i read from your last post (the one with the real live acc) you should read more about forex before going live.
I also think that you should leave pairs like major/nok,sek,zar and others to the experts.
My personal oppinion.
"Abandon all hope, you who enter here" La Divina Commedia, Dante Alighieri
  • #24
  • Apr 7, 2007 12:00pm Apr 7, 2007 12:00pm
Quoting semar
what do you mean by 100 and 500??? hope not lots )
This seeams pretty impresive going from 18.000 to 2.6 or 2.7 mil, but from what i read from your last post (the one with the real live acc) you should read more about forex before going live.
I also think that you should leave pairs like major/nok,sek,zar and others to the experts.
My personal oppinion.
Maybe he means 1 lot of 100k and 5 lots of 500k.... If it is lot, it is crazy...
  • #25
  • Edited 1:09pm Apr 7, 2007 12:54pm | Edited 1:09pm
I played on real account for 7 month, I did crazy amount of transactions, and I experience slipage only 3 times ( I am not news trader).
Orders filled at right price (only couple times I had not right price)
So like I said before I see no difference between demo and real account.
I strongly belive, if you can win on demo, then you can win on real account.
If you have problem with your broker then change one.
Psychology is for people who does not have a good system (90% traders) or for people who way too optimistic about their trading (prime example most of American's traders). By the way, the most pesimistic is Russians, I think.
Besides, if you not a scalper then to prove that you doing good you have to be continuesly proftable on demo, at least 4 month. If you scalper, then you need lot less time to find out how you doing.
Also for long term traders, almost impsible to know if you have good system or it fails when market will changes. So there is a lot of things to consider. And demo or real account, does not matter really.

Quoting nikko
Hi, I've played with the Miniforex from GCI.

Their demo is no way close to the real thing!!! An advice, do not spend time in their demo.
In the demo :
- when you buy you get the price you see on the charts
- when you buy it is done quickly and you can sell just after.
- when you sell you sell at the price you see on the charts.

In reality :
- when you buy, systematically, the price will be 10 or more pips over the price you see in the charts. The system tells you 'the price has changed do you want this new price' and always it is 10-15 pips more than what you really want! Worse. When I was trying to buy NASDAQ, the message asked me to buy for 20 pips more, pretending the market changed. But in the future, the chart never reached the level they wanted to sell me. So when they say the market has changed : it is wrong. Sometime, the market nevers goes where they want you to buy and you are stuck...
- when you buy it may take 30 seconds before you get an answer. During this time, the platform is stopped. Nothing works. If you want to cancel your order because it is taking too much time, they refuse and your order is taken in account. In 30 sec, things changes...
- when you sell, you have the same slippage as when you buy but in the reverse order : I want to sell at 50 because I want to make some gains, they say 'the market price has changed : do you want to sell for 15?". Hey!!!! I've lost a lot only buying and selling 1 lot, just because if you add the upslip and downslip, you need to do 20 pips to win anything on the EUR/USD. When they pretentds to be 3 pips : they lie.

One more thing, in the demo the curves are totally faked. They are doing sin() on the exotic devises (SEK, NOK, ZAR) so it is easy to by low, and sell high. In the reality : THIS DOES NOT WORK!!! I've compared the charts in demo and real account, they are differents, so the strategy cannot be trained in demo mode.

My conclusion about GCI is that they are thieves. They are in Belize, they bank is in Germany, they refuse Canadian, US customer, they processing credit cards thru Paypal.
Worse, they lies in their demo to make you think you gona be rich, and they cheat in the real accounts to ripe your money.

That's it for my GCI demo vs real account.

I hope people will find it usefull and will not lose their time and money as I did...
"Every battle is won before it is ever fought." - Sun-tzu, The Art of War.
  • #26
  • Apr 7, 2007 1:12pm Apr 7, 2007 1:12pm
hi nikko, welcome to the wild forex west ... what you describe is amazing, so this broker found a way to make you "win" all the time with demo trading but once things get real with a live account you see their true colors ...

Quoting nikko
Hi, I've played with the Miniforex from GCI.

Their demo is no way close to the real thing!!! An advice, do not spend time in their demo.
In the demo :
- when you buy you get the price you see on the charts
- when you buy it is done quickly and you can sell just after.
- when you sell you sell at the price you see on the charts.

In reality :
- when you buy, systematically, the price will be 10 or more pips over the price you see in the charts. The system tells you 'the price has changed do you want this new price' and always it is 10-15 pips more than what you really want! Worse. When I was trying to buy NASDAQ, the message asked me to buy for 20 pips more, pretending the market changed. But in the future, the chart never reached the level they wanted to sell me. So when they say the market has changed : it is wrong. Sometime, the market nevers goes where they want you to buy and you are stuck...
- when you buy it may take 30 seconds before you get an answer. During this time, the platform is stopped. Nothing works. If you want to cancel your order because it is taking too much time, they refuse and your order is taken in account. In 30 sec, things changes...
- when you sell, you have the same slippage as when you buy but in the reverse order : I want to sell at 50 because I want to make some gains, they say 'the market price has changed : do you want to sell for 15?". Hey!!!! I've lost a lot only buying and selling 1 lot, just because if you add the upslip and downslip, you need to do 20 pips to win anything on the EUR/USD. When they pretentds to be 3 pips : they lie.

One more thing, in the demo the curves are totally faked. They are doing sin() on the exotic devises (SEK, NOK, ZAR) so it is easy to by low, and sell high. In the reality : THIS DOES NOT WORK!!! I've compared the charts in demo and real account, they are differents, so the strategy cannot be trained in demo mode.

My conclusion about GCI is that they are thieves. They are in Belize, they bank is in Germany, they refuse Canadian, US customer, they processing credit cards thru Paypal.
Worse, they lies in their demo to make you think you gona be rich, and they cheat in the real accounts to ripe your money.

That's it for my GCI demo vs real account.

I hope people will find it usefull and will not lose their time and money as I did...
  • #27
  • Apr 7, 2007 1:37pm Apr 7, 2007 1:37pm
Quoting BurgerKing
Demo are just that DEMO..

No pressure to win; no pressure to do MM; no pressure to think properly; all the reason to be an idiot..

You dont learn from DEMO other than knowing you are being idiotic doing demo and wasting time.
second that.

use demo only to get used to the platform.

Then open a $250 account and trade microlots. You will be amazed how a $1.00 loss affects you emotionally and psycologically. Now you're trading.
  • #28
  • Apr 12, 2007 11:29am Apr 12, 2007 11:29am
Quoting nikko
Well I think I'll buy 1, sell one until I get 2000.
If I do the same as I did last week. Using the same methodology it should be ok. I always keep 50% of the money in my account, and I do sell as soon as it goes against me... well except if it is a spike.
You are right, spikes can kill you. But in a certain way, I like to be in a very hard situation, so everything can only be better.
I far as I see, Forex is a game. I think we need to see it as a game, and never be effraid of buying selling fast. Think in a second, act in a fraction of seconds. And bid on risky thing : Gold, Pesos, SEK, INR whatever that can get you high quickly.
I can't understand the ones who think : I'll do 5 pips a day... that's crazy, we are here to become rich, no risks = no way to win a lot of money. In that case I prefer go in a regular work with a boss over me.
I've rised my account to 2.6M USD doing no more than 10k, 20k / trades. I've done sometime 20/ 30 trades with no loss in less than one hour.
Forex is my new prefered video game.
Started at 0 (well 500) if I've 100k, I'll never have fear, or worry about a decision.
If someday I loose everything, I'll have lost 500... I don't care.

See you soon
It is very little margin to make trades,to get a good profit you must wait a lot of time.
Be patient.
  • #29
  • Jun 16, 2007 7:01pm Jun 16, 2007 7:01pm
In another thread I described that I earned 50% of my demo balance with GCI in just 3 days, just pushing the buttons like a baby because I didn´t know at that moment anything about Forex, it was the very first week I was geting some information about.

I was very excited because 50% in 3 days! I was just waiting my job pay check to open a real account; then while waiting I found some sites about ratings and reviews of brokers, and how disapointing was to see that almost everybody badmouth about them, saying how much easy was to earn money in the demo and how impossible was in the real thing, slipage, delays in closing positions, etc. there is a video in yotube that shows a guy trying to close a deal and after 15 min. finally closes with a loss when actually he was gaining some pips when he placed the close order.

Of course, I didn't give them a try; so, I can't tell I lost real money with them, but if you look in google for broker reviews there are some informative sites that can give you an idea to take your decision.

Ado
Ado Whether you believe you can do a thing or not, you are right.
  • #30
  • Jun 18, 2007 3:36pm Jun 18, 2007 3:36pm
Ya, I have never traded with them either but I have heard pretty bad rumors/reviews about them..
  • #31
  • Oct 10, 2007 2:07am Oct 10, 2007 2:07am
Avoid GCI ! Awful especially if u win..
  • #32
  • Oct 12, 2007 1:07pm Oct 12, 2007 1:07pm
Sounds like you're risking far too much money or trading far too much even for a demo account.Keep your capital intact and only risk 3-5% of it with every trade. Don't look for reasons to trade, instead look for reasons NOT to trade. I know it sounds quirky but it'll keep your account alive longer.
To me the demo is only useful to check the success of a particular trading system before trading it live.It doesn't compare to live trading otherwise.
  • #33
  • Jun 23, 2017 5:29pm Jun 23, 2017 5:29pm
Man dont make the same mistake alot of traders coming into forex repeat over and over again.

DEMO is for back testing a strategy

LIVE is how you handle your strategy when money is on the line.

i came to this realisation when i too thought my demo results would be reflected on my real account. Then ............BOOOM .ACCOUNT BLOWN.

Demo and Live are two completely different arenas.

its all about the psychology.

Check this guy out, he talks about psychology in forex and how its changed his way of trading. https://www.tradersreality.com/
If there is no enemy within, the enemy outside can do us no harm...
  • #34
  • Jun 25, 2017 10:32am Jun 25, 2017 10:32am
If you want to learn from your demo, then please use small virtual trading capital of demo! In addition, always use small trading lot size! Right now, you have to focus on learning only; don’t judge your trading result too early! Yes, you’ll face so many SLs, that’s really natural; don’t be scared!
  • #35
  • Jun 28, 2017 12:24am Jun 28, 2017 12:24am
If your trading system has the potential to make your account more than 100% return a week, your system is most likely to be extremely high risk, with major focus on maximizing profits, and little on risk management, probably taking close to the biggest position size your margin allow, no stop loss, and averaging down. Big fluctuation in account size due to profits and losses within short period of time (usu. days), is never a good sign.

Forex (and trading) has been around for decades. If it's possible to consistently make that kind of return safely, it would already have been done by many people. The best traders in the world don't care for high returns, focusing only on taking good trades and getting consistent return every month/year. We'll never know when the market will come crashing down. They know how risky trading is, and the best defence to avoid sustaining huge losses is by actively managing risk.
'For the market to work, it needs people who think that they can beat it.'
  • #36
  • Jun 28, 2017 12:35am Jun 28, 2017 12:35am
I feel like demo accounts don't give you the real experience. Why not throw a few hundred dollars into a real account and trade 0.01 lots for a 'real' experience?
  • #37
  • Jun 28, 2017 2:01pm Jun 28, 2017 2:01pm
Quoting jamesanderson
Ya, I have never traded with them either but I have heard pretty bad rumors/reviews about them..
I have never tried GCI Financial even demo account. Very old trading platform but not find good reviews in FPA.
  • #38
  • Jun 29, 2017 4:21am Jun 29, 2017 4:21am
I found that i was doing much better on demo money, i realise though that was likely due to confidence and being more relaxed due to it not being real. I think trading should be learned on real momey to enable training of controlling emotion. Take the losses on the chin and analyse losses and learn. Working for me anyway, albeit slowly.
  • #39
  • Jun 29, 2017 11:48am Jun 29, 2017 11:48am
There is a way i think is quite appropriate to try your strategy. Which is to backtest it. There are people out there in this forum who know how to create trading algo, why not try out your strategy???
  • #40
  • Jul 9, 2017 3:14pm Jul 9, 2017 3:14pm
There is so far different between demo account and real. Honestly speaking , I got maximal result in demo account but when I was started in micro account not found the confident that was in demo. That’s why I don’t believe the importance of demo. It’s just time passing.
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