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A demo account is one of the best ways to check out any types of financial trading. The account provides an introduction to online trading for beginners. It helps the traders test the functionality of live trading account. More clearly, the demo account concept permits the customer to view the account online and understand how the account would execute when it was a real account.

Many Forex brokerage services offer their clients a Forex demo account in order to learn the basic functions of an online Forex account. Forex (also, Foreign Exchange) is the simultaneous exchange of one currency for another between two parties at an agreed rate. These basic functions include the sell or buy order, the stop loss order, the profit limit function, etc. Acquiring these basic functions is very useful in online account, as they guide the customer to the path of success in currency trading.

There are a number of different demo software are provided by financial services to test their currency accounts. The account can be accessed through logging in at their websites. A demo account usually possesses the following advantages: For a limited time, the customer will have full access to real-time pricing on all instruments offered, risk free demo trading, expert fundamental market analysis from the premier source of quality financial and business intelligence information, real-time breaking news, and multiple online order types including Market, Stops, Limits and OCOs.

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Demo account is a best way to learn and test your strategies. And it is a good way to test your broker terminal before you put your money. Select the leverage and the balance in the demo account similar to the actual amount you are going to invest in forex. So that you can assess your progress.

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@sasanka yes its ture but about testing terminal responce its hard to realize fully when there is less pressure in demo server and most of the time its working fine without requite. but in real it difference when there is lots of pressure in real server . but atleast its good to test terminal in demo .

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Demo account is our first trial before we used real account, it can be used for testing our new strategy too.

Usually, demo account is used by newbie who tried trading platform in the first time, but forex expert used this too to test his new strategy.

It's really important account for traders.

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@andry777

Many experts use demo accounts to test their new EAs. When ever they create or buy one they use Demo account as their test terminal.

@Nikhil

Yes that is true. In real time servers are bit slow due to large number of using it. Tend to disconnect or the terminal get busy.

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@sasanka yes its ture but about testing terminal responce its hard to realize fully when there is less pressure in demo server and most of the time its working fine without requite. but in real it difference when there is lots of pressure in real server . but atleast its good to test terminal in demo .

better we try to choose a server that is rarely used by traders, such as that provided by several brokers. but I guess it does not really flashy, because if we open orders in leisure-hours are seldom experienced requote nor off quote. all broker ehich guaranteed, so choose a broker who has a supporting feature of our connection.

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  • 4 weeks later...
  • 4 weeks later...

@andry777

Many experts use demo accounts to test their new EAs. When ever they create or buy one they use Demo account as their test terminal.

@Nikhil

Yes that is true. In real time servers are bit slow due to large number of using it. Tend to disconnect or the terminal get busy.

 

it is very important to test some strategies first and some indicators before trying it out on real trading. like if we need to find what comination of indicators to use to be successful in trading better apply them in demo trading for some time. i think that we should do this to be safe and not lose money although some tradres don't do this and still success but not for me though.

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@indieover

Yes, of course. That was important to know effectiveness our strategy first before we used it in real account trading.

It will be useless to use strategy which is not working when we used it directly in real account. We will suffer some bucks

for nothing.

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i think that is the best use of demo trading to test out strategies. besides learning how to trade. we should make all the mistakes we can in demo trading so that we won't be able to make as much mistake or avoid mistake as much as possible in the live trading.

yes its true demo help us lots to test our strategies and if we really want to become good trader then demo have very importnat rule . but there was some people who really not want to used demo because of virtual money but we need to think first to learn then trade in real.

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demo account is one of the best way to seek knowledge and get free training of the forex training.i think if you get trinning from it and then enters in the real market then you can easily make your desicion it is due to ine reason that many forex trader who enter in the market and spend their money with knwing any strategy of forex as a result they lose their money.

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Demo accounts are primarily used to improve the trader's skills. We all learn from trial and error. Trying new strategies in demo accounts can avoid losing money. Personally I enjoying trying out new stuff with the demo account. Even if you blow up your account it will not matter at all.

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Demo accounts are primarily used to improve the trader's skills. We all learn from trial and error. Trying new strategies in demo accounts can avoid losing money. Personally I enjoying trying out new stuff with the demo account. Even if you blow up your account it will not matter at all.

yes its true if we blow up our account in demo then its no problem but we learn from it . actually i think we need patience to learn with demo also because when here trading with virtual money . still i trade in demo to test my newly invented stratrgy which sometime really help me before used in real account.

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Demo account is important, not only for beginner traders but for senior traders and expert traders too. This demo account is starting point for

beginner traders to learn about trading platform, it's risky to enter in real account directly. Demo account is important as testing platform before

we used new strategy in forex market. We could test its effectiveness before we used it in real account trading.

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Currently I have 3 demo accounts, testing different strategies. I never lose motivation because it's demo account. I believe forex trading is an art. To fully appreciate the art, we have to know more about it. There is the chance to practise it with demo account. So why not?

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@winning

Oh that was something new for me to use 3 different demo accounts. I usually used only one demo account and to test the effectiveness of my

strategy, I usually used it one by one. Maybe you used 3 demo accounts becaus you wanted to test 3 different style strategy in the same time right?

That was incredible.

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Demo account is made for practice session. If any newcomer will come into this world then this demo should help to make some decision. We can found some protected data that can't use in this demo. Basically it's use for purchase and sale or any exchange. If any member can make good profit then sometime , some company announce some benefit or deposit bonus. We can use this service for use of latest update of some special feature.

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I agree with you that demo account is place where people learn how to trade on forex market and when they really understand it they should move to make money in real account. In real account you still need to learn how to manage your money and emotion so just open a real account and make small deposit to learn about them.

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  • 2 weeks later...

I think demo account must be the first step for all new traders. Demo account is very important and must be assume as a live account, If we can than we can train our mentally to be discipline and patience. Also in demo account we can forward test our own trading system, so we can develop it into a profitable system. After that can be use in live account to make more profit..

 

winzpc

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@winzpc

Yes, demo account is first starting point before you entered to real account and there are a lot of things that you can learn in

demo account before entering to real account. It's important to find out the most suitable style of trading for you because each

trader has different style in trading.

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