Demo account or Micro ?

Discussion in 'Forex' started by Ahmed Solaiman, Jan 7, 2021.

  1. No matter what, a demo is the base for trading that allows traders to understand the trading platform, understand the market and practice trading strategy using different indicators.
    Whereas micro accounts are the best for developing the right psychology required for trading.
     
    #211     May 10, 2022
  2. The main difference working in a demo account without involving emotion, although traders face big losses in a demo account, no feel regret because only use fake money, to build better psychology trading, and start micro accounts giving more real experience.
     
    #212     May 10, 2022
  3. tony.m

    tony.m

    We know that 85% of CFD traders lose money but is trading 0.1 Micro lots good for learning ?
     
    #213     May 10, 2022
    radex78 likes this.
  4. For micro or cent accounts I think it is normal to use 0.1 micro-lot, but for lower risk can use 0.01 micro lot, maybe not all broker offer this minimum position size of 0.01micro lot.
     
    #214     May 11, 2022
    tony.m likes this.
  5. Mellov

    Mellov

    Reasons we have these varied options, so if you are not greedy as a newbie, you would definitely want to start with a micro account after practicing for a reasonable amount of time in demo trade.
     
    #215     May 12, 2022
    radex78 likes this.
  6. In forex, crypto CFD, maybe more than 69% or higher people losing money, many account crash less than the sixth month, it suggested to the newbie at least spent time in demo more than six months. However, maybe the broker offers a demo with limited time.
     
    #216     May 12, 2022
    tony.m likes this.
  7. If you open a micro/cent account then you are allowed to trade at an even lower lot size like 0.01. Those types of accounts are intended for learning as you practise your knowledge on a live account with lower risk than a standard account. Profit shouldn't be your priority at this stage.
     
    #217     May 16, 2022
    radex78 and tony.m like this.
  8. In the learning stage, traders can test various trading strategies, losing money in a cent account is not too big money if still get fail, but if want to be risk-free, indeed demo account is free without any risk.
     
    #218     May 16, 2022
  9. yes i agree with you , losing money in a cent account can be little bit expensive but this is really a powerful way to acquire good knowledge and experience.
     
    #219     May 17, 2022
  10. If I had to choose one, I would have chosen a demo account as it helps you stand in the live market. You will in any way be risking money in the live market but it is important to know how to execute a trade before you have to do that in the live market.
     
    #220     May 17, 2022