Demo account with real account experience

Discussion in 'Forex' started by Kagisopeter, Nov 11, 2020.

  1. I am about to start forex and wish to know if there’s a thing like a good demo account in terms of reliability and has nicer spreads as well. I tried a few demo accounts after going through a couple of online trading discussions and noticed the spreads were higher on most common pairs (I checked with the UK timings). They were even higher than real account. Can you please point me towards a demo account that provides trading experience closest to a live account? Or can see if the spreads are almost same with demo and live accounts. Thanks for sharing your thoughts.
     
  2. Johannab

    Johannab

    I don’t think anyone’s practiced on demo accounts like i have. Interactive brokers, IG, TD Ameritrade, Fxview, Forex.com, XM, A-trade, CMC Markets, I’ve tried them all. Nothing, just about nothing can prepare you for the real deal. I made thousands with virtual money on all kinds of strategies and with live accounts with half of these brokers lost more than I made.
     
  3. tedmos38

    tedmos38

    Technically demo accounts are designed to represent the exact market conditions of live accounts yet there can be a difference in both of them.
     
    Elly9 likes this.
  4. Elly9

    Elly9

    Yeah right. But demo accounts are great for first hand experiences.
     
  5. Real Money

    Real Money

    I have demo and live traded oanda, didn't like it. Demo'd a bunch of other ones too (IBFX, TradeStation, and Liteforex). Got sick of forex and decided to move over to futures. I have traded futures in demo and live now, and would probably recommend IBKR both for demo and for live CME globex futures execution.

    You can trade FX futures with reasonable margin. I love thinkorSwim for additional charting and IBKR as an FCM. They are fast. You can see your limits post on the ladder nearly instant (of course it's not instant) and the fills are good.
     
    Nobert likes this.
  6. Nobert

    Nobert

    For the practise on swings with equities, TOS is ideal.

    Had >+2000~ trades with em, once was collecting the data.

    Served well for transition into the real game.
     
  7. Different strategies might have been an issue. Perhaps perfecting 1 would have been a better poa.
     
  8. in my experience all of broker are the same and eat your money
     
  9. deaddog

    deaddog

    What do you think was the difference? Did you trade differently when real money was on the line or were the fills and the way the market acted different?
     
  10. I would say almost all brokers provide real data when it comes to their demo accounts. Which ones did you use?
     
    #10     Nov 11, 2020