Real account or a Demo account?

[Erick]

Hi forumers;

This is my first post in this forum and I am actually planning to start trading currencies, I am doing my research on this trading and i came across people arguing wether it is better to learn through a demo account or real account... What do you guys suggest, real or a demo?

Cheers

[CFD gangster]

Hey Erick;

I would suggest you start with demo a/c. But just to learn how to press buttons on a platform and how to use indicators and apply your strategies, but don't get used to it!!! move on straight to a live account but start with small amounts and don't rely on your demo account experience!!! when trading live, emotions are involved and many more factors!!!

ALL THE BEST

[Messi]

Using the demo account when you first sign up with a broker is an important thing to do even if you're not a beginner, this step is very helpful when you start, I remember myself opening an account with an X broker and their platform was different to the one I use, I closed my position by mistake when I wanted to do something else ( I don't even remember waht it was )

[Storm]

I am actually with with the idea of using a dummy account first. It helps you become friendly with the platform, the use of indicators, strategies.... before you dump your feet into the real account. It is just important to keep in mind that the demo account and the live account are completely different experiences!!!

[Ralph Richard]

Hi peeps;
Some of us are really not spending the weeked the way it's meant to be!!!
To answer your question again, the demo account is good to prevent the inevitable initial losses. If you're smart you'll start on dummy account and slowly build up your strategies and trading techniques rather than start off with £Xk and blow it all away in a space of days.

[Storm]

Morning forumers;
The Demo account allows you to apply your knowledge in a real-life trading environment without risking your money.That is the biggest advantage of having a Demo account, feel free to practice until you feel comfortable trading for real but always keep in mind that you won’t get a chance to make profits in return for your efforts if you use a Demo account only. My idea is to use demo account to learn how to be friendly with the platform and how to use indicators and......Once you become familiar with all the options offered by the platform, you run quickly to the live account.
N.B. If you're a newbie, start trading small amounts...

[Mouthy]

I think that is straight forward and in every domain you need to train yourself before going to the real thing.
When you first get recruited by a firm, they have to train you before you start to perform your duties. before you become a professional snooker player, you need a lot of practise before you reach your goals.... Isn't that the same with trading, You need some training and understanding before jumping to the live account...

[Noah]

Morning forumers;
The Demo account allows you to apply your knowledge in a real-life trading environment without risking your money.That is the biggest advantage of having a Demo account, feel free to practice until you feel comfortable trading for real but always keep in mind that you won’t get a chance to make profits in return for your efforts if you use a Demo account only. My idea is to use demo account to learn how to be friendly with the platform and how to use indicators and......Once you become familiar with all the options offered by the platform, you run quickly to the live account.
N.B. If you're a newbie, start trading small amounts...

I think you said it all here Storm, You stormed me away

[Sascha]

I agree with you lot on this topic. It is necessary to use the demo account before the real account. The demo account is only provided by the brokers to help us be friendly with their platform, not to make you think you can actually be wealthy after making some bets or vice versa!!!

[Lucky]

Hey Erick;

I would suggest you start with demo a/c. But just to learn how to press buttons on a platform and how to use indicators and apply your strategies, but don't get used to it!!! move on straight to a live account but start with small amounts and don't rely on your demo account experience!!! when trading live, emotions are involved and many more factors!!!

ALL THE BEST

Yeah, demo account is the best way to learn the trading platform but not good to practice trading.
As you will see some brokers offer very low stakes (such as 10p per point) and since it's your real money in stake you will care more and learn faster.