Practising on demo accounts makes you aware of the platform, market and helps in learning to identify the risks. For beginners, it is the most beneficial way to enhance their knowledge and get prepared for the live trading.
And do not forget that on a demo account you can test your strategy and understand what needs to be changed or corrected.
The possibilities of a demo account are quite extensive, but not only for beginners, but also for experienced traders.
For those who want to achieve the fastest and best result on a real account, he does not deprive the demo account of attention and determines a sufficient amount of time for this.
Is very important start with demo, my first month I loss 5400 and second 2100, but is virtual money, so no problem, but if I loss this amount in real
one idea i have been saying for years is "you have no business trading a live account until you can be consistently profitable in a demo account first" (or at least double a demo account). I highly recommend IB tws demo as a learning platform
I always follow this type of mantra. It makes sense in this term, you need to make a profitable return in demo account before you can try out live trading.
Demo account is a must when we begin trading. I still use a demo account sometimes say for backtesting my strategies mainly. Its a great way to learn and test .