Demo account or Micro ?

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

  1. The success of a trader depends on his/her skills. Directly jumping into live trading is pointless if you don’t have the skills and a workable trading strategy. So I suggest you start trading with a demo account and then move to a live trading account.
     
    #231     Jun 30, 2022
  2. FahadMd

    FahadMd

    demo is good but the result of trading most of the time be useless , because in trading demo we cant feel emotions.,
     
    #232     Jul 1, 2022
  3. Agreed! Traders can switch to a micro account after practising on the demo account. Micro accounts help traders to develop right trading psychology.
     
    #233     Jul 4, 2022
  4. micro and demo is the same thing , there is no technical difference between two. just the difference there is only the Mentality.
     
    #234     Jul 4, 2022
  5. Use a demo for building and practising your skills. You can also rely on building trading strategies. But use a micro account, when you feel ready to jump into live trading. With micro accounts, you can take small risks and learn about trading in the live trading environment, which will gradually prepare you to take bigger risks.
     
    #235     Jul 5, 2022
  6. Rodri

    Rodri

    If you have no experience in trading, it is good to use the demo account to practise and familiarise yourself with the broker platforms.

    If you have experience in demo trading and are confident enough to trade live, the micro account is a good place to start to avoid high risks and losses.
     
    #236     Jul 5, 2022
  7. Wolfe_tr

    Wolfe_tr

    I totally agree with you on this as forex is very volatile, one should practice enough before trading on to the live platform.
     
    #237     Jul 8, 2022
  8. quest324

    quest324

    Both types of accounts are appropriate for newcomers. However, the demo is what is recommended when you first start trading, and once you have a good hand on the demo, you can start trading with a micro account because the chances of losing money are lower.
     
    #238     Jul 13, 2022
  9. Cholas

    Cholas

    There is sense in what you have said, but this doesn't undermine the importance of demo trades. Newbies can't skip this stage of the market as demo gets you familiar with what you are getting yourself into.
     
    #239     Jul 13, 2022
  10. It’s badly essential for traders to have both fundamental and technical knowledge of the market.
     
    #240     Jul 15, 2022