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Importance Of Demo Account


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ECN brokers get pricing feeds from multiple institutional market participants and display the best quote on their trading platform. With quotes flowing in from numerous institutional sources, spreads on the bid and ask can get extremely tight and can even reach zero. start with ECN type account would be better option for any rookie traders.
Open a demo account, and trade it much longer than you think you need to: I would suggest at least six months, there is still huge value in trading a demo account for the purpose you seek. I would even advise keeping it and using it after you've opened a live account, as your learning will not stop then. i keep use my tickmill trading platform for live account purpose, and also for trading strategies enhancement process.

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  • 3 months later...

In this trading stage demo account is considered as a master place for acquiring proper fundamental basic knowledge which is very supportive to start Forex trading in a proper way. But, generally we are not willing to trade in a demo account for a long time. So, we can’t kick this market place properly. By the way, I opened my demo trading ion MXTrade where I got $1000,000 that inspired me very much .

Demo account is referred by not only newbies but also by experienced traders to check their strategies and predictions, its very useful for trader and one should spend ample time in it.

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Demo account is referred by not only newbies but also by experienced traders to check their strategies and predictions, its very useful for trader and one should spend ample time in it.

Right, although we are experience trader, we can use demo account to test trading strategy or others. Even we also can use demo account to take part in demo contest to help us to improve our trading skills.

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Demo account is very essentinal for every trader, especially new trader. But if you're a fast-learner, you can try demo account for a while. Real is much more excited, sticking too much with demo could waste your time.

As a new trader its good to start with demo account but as you gain experience then you should only use for reference and making any checks.

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  • 1 month later...

Demo account is very essentinal for every trader, especially new trader. But if you're a fast-learner, you can try demo account for a while. Real is much more excited, sticking too much with demo could waste your time.

Do you have unlimited demo accounts or it has expiry time in case of abandoning it? What I most like in my Hotforex demo is that it's unlimited time of use and even after a year of delaying in trading you can resume and continue without a need to open new one.

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Demo is the best way to gain experience and it is very much important for every broker to gain certain amouint of knowledge through demo trading and then enter the real world of Forex. I have earned a lot after practicing demo with my current broker for around 6 months.

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  • 2 weeks later...

Demo accounts is a free trial place to make preparation for future live accounts, and also you should utlize it to test your broker, the time should not be too long, you need micro live account to verify how this broker exactly work!

yes you are right most traders ignore the importance of Demo account, but they are really important to prepare us for our trading experience.

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  • 2 weeks later...

I am not sure but I think hotforex demo account could be expired in certain of time, I left my demo accounts for several months and now it couldn't be logged in. But you should make it active all the time and it could never be expired.

Well I had Hotforex demo account that was active even after 6 month pause of trading with them so guess they have no expiration time.

But anyway check that with support I can be mistaken too

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Normally all brokers remove inactive demo accounts after a period of time but some don't. A binary option broker I was trading, OptiobTrade, never remove my demo account, I opened an account 2 years ago and it still works. But it's binary option, maybe in Forex, they have more clients and need to clean the system for new demo accounts.

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Could anybody suggest me good demo trading account which is not expiring in a long time? I heard Hotforex offers one but need to confirm it with other traders to open account with them.

There are many brokers that provide such accounts, i had my account with liteforex and it has not been deactivated even after long time.

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The importance of demo account is extremely to acquire exact fundamental information which is very supportive to start a live account in a proper way. I have opened my demo account in MXTrade without any kinds of restrictions. From here, I got $1000,000 for trading at all times with narrowest trading spread.

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That's the biggest mistake (yet common) among traders. They treated their demo account in a wrong way and they just recognized it after losing some funds in their live account.

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