Topic: What is your honest review of the Demo account? (Read 1026 times)

Demo account basically help you to explore trading itself. Position sizing, mapping, charting, for complete beginners. It is also or those who are still grasping their strategies and needs to create a track record. Demo Account is a gift because it allows you to trade realtime market movements and experience trading it without risking any amount of money.

So once you're already done practicing you're strategy, it is recommended to continue it for with live account for any possible small amount to prime your psychology taking risks. You do it step by step. Not with a big leap. That's how you grow your trading.

All kinds of work can be done in a permanent account so why we use demo account. We can use Permanent Account to learn something or to apply it practically. In the first case we will take practical idea from permanent account then when our practical idea is taken then we will try to become a professional traders with that permanent account then what is the need of demo account in this case. Those who use a demo account are later found to be using a permanent account because the things that can be done with a permanent account are not possible with a demo account. So it is better to do the same thing once instead of doing it again and again. I think it is better to use a permanent account instead of using a demo account.

It's true that the demo account is only for strategy practice and feature introduction,
even for strategy practice i don't think it fully work because it will be very different when trading for real,
Most importantly don't think that you can fully master trading after trading on a demo account.

It would really be a total different battlefield if you do tend to compare out demo into live on which it would really be that true that demo is really that good when it comes to familiarization on trading platforms on which it would really be just that normal that it would really be that hard but it doesnt mean that its useless because demo could give out that idea which you would really be needing to know and the rest
would really be able to acquire on live trading on which you would really be making use real money and it would really be a different story.

On the demo then you wouldnt be able to learn up on risk management because you arent making use of real money on which means, emotions isnt something that you would really be able to
to mold up since you arent making use of real money.

Guys I must say the truth practicing with Demo is very far from the real account. Demo is just to give you the awareness that this is a trading platform. I learned with Demo for about 4 weeks with different amount to know the real amount which I will be using when o finally use the real account. To my surprise when I finally registered with the real account, and spent $400 on the real account and I traded for the market to go up, hey!!! That is the time the market speedily come down. And I loss all. Again I deposited $120 to recover my lost and this time I place the market on downward, hey! Market speedily go up and I lost everything. So I left trading. These are stories that I heard from other people and I had experienced it.

the sense of responsibility that was lacking on the demo account carried over to the real one. in this case a psychological feeling that is not obtained on a demo account because you feel that if you lose it is not real money. therefore we must be able to distinguish between the functions of a demo account, indeed for strategy practice, but not for trading psychology practice, which we will only get on a real account. because of that many people complain as if they are professionals on a demo account, but are always wrong on a real account

Practice yourself on using up technicals and on the time that you do see that you could be able to apply those things efficiently then this is the time that you would really be considering on going to real trading on which

making up use of your real balance would really be giving out that different vibe or impression because on the time that you do set your foot into live trading then the entire experience would really be entirely different

if we do speak about in comparison with demo account.You would be able to notice that you would really be that something emotional on the time that you would really be making use of real funds.
This isnt something that you do able to practice when you do engage with demo and this is the only thing thay you would be missing out on learning this stuff when you do start up with demo
but when it comes to knowing those indicators or tools then it would really be that relevant on doing so.

Normal to experience that situation since not all the time that what trades you do using those demo accounts will also happen when you are at real time trading using your own money. Remember that market is unpredictable so maybe that's the reason why you lose your money since you didn't expect some situation and you got caught up with it. But for me demo accounts are so useful because for this we can warm up or try anything that we can learn from before we use our money to trade since its really waste of money if we don't use this and we want to try some strategy so demo is there to save us up to know more about on trading.

I don't think demo trading has actually helped anybody learn to trade.
A couple of years back I tried forex trading with a demo account and it felt like I was learning because I was making profits, but when I started trading live, I lost all my money. I think that's part of the reason that discouraged me from foreign exchange.
What I find most annoying about demo trading is how easy it is to trade and make a profit. All this is to make sure you trade on that platform.

I think that Demo Accounts are a great way to try out new trading strategies and any beginner should use it before starting to trade with real money. It's true that there are no consequences for trading with demo accounts, but that is also a good thing, any big loss is not a real loss and we can still learn from our mistakes. We shouldn't feel bad about any profit we make that it's not real, rather be happy that our strategies are working. When it comes to demo accounts it's up to us to make it as realistic as possible. For example we can set a personal goal that we need to reach 25% profit before we start trading with real money. Or we could make a challenge with friends and see who runs the best portfolio over a month. There are a lot of possibilities with demo accounts, it's up to us to use them.

demo account is good if the data is accurate, you could get a glimpse of how your trading career might turns out.
also you can experience real trading from real data. but regardless though its gonna be a little different if you are using real money because emotion will be involved.
so basically you can use demo account for just seeing the circumstance and then decide on your own whether you really want to have a career in this fields.
after that, though you still need to try out real trading little by little to get a grasp of what controlling emotion is like.

Demo account would really be that good when it comes to familiarity of the indicators and trying out to back test certain strategies on which you would really be able to make analysis and make out strategies which you

could really be able to apply on the time that you would really be making this live trade.Some doesnt really tend to go with demo and directly make some live trading and using their own money and at the same time
they would really be able to learn up things on their own along the way.Its not bad to make out some steps because even myself did really start on having that demo account when it comes to discovering something
then you could be able to learnt it up along the way.
It does really depend on you though because not all would really be that having that kind of thinking when it comes learning things which some might really be that going with the basics and some would really
be directly going in rush.

The Demo account is necessary before you open a real acccount in trading because in this way you will experience on how the market works, you will get the knowledge on how to buy and sell, how the market moves in days, weeks or months and also the volatility of the market. But I do not advise the new traders to spend a lot of time in demo account because like the OP said that there is really a big difference especially in executing of the trading plans because in demo account there is no money involved while in real account your money is at risks and these where the trading psychology will come into play.

I think 3 montsh is enough for training in demo account because that time you already have the basics and foundation that you can use in trading in order to become a profitable trader but expect that it will be a ahrd way because for sure you will exprience a lot of adjustment and these where you will find out that there is a really big differences between trading in demo account and trading using your real money. Expect that you will get new experience on your first loss and first win.

This is a great solution for a training period which will greatly benefit a newbie rather than having to jump right in with real money and the various high risks he will likely face and then incur a lot to lose. Join several educational groups or look for a mentor to at least get basic knowledge about what points they have to prepare before finally jumping into real trading. Honestly this is very useful for me personally and maybe for most people. Conversely, sometimes I often find statements from beginners that they always get profits when trading on a demo account, but when they try on a real account they are always dominated by losses. In my opinion there is nothing wrong with the things they have learned before, this is natural in my opinion because they don't have a strong mentality yet, and when they jump into a real account, they will automatically be a little disturbed from a psychological point of view because they are afraid to make a decision .

For a newbie who has complete zero knowledge about trading, I think it would be wise to start trading with a demo account to test the waters and to get some insights about trading before actually diving into it. Before doing a demo trading, it would be assumed that the newbie must have studied some materials or watched some professional trading videos. So the demo trading is like a practical experience to apply some of those things he has learned. This would help to build the newbie's confidence, broaden his knowledge, and save him from making unnecessary errors and lost of funds.

A demo is a demo, easier to understand that it's like an unreal account.

It's a good feature to practice strategies, I don't understand if someone does try a demo account and hoping that he can cash out the profit he gets from there.

Well, nothing is free on this world and out of it you get nothing.

A demo account is just a test account provided by the platform, which aims to practice and to find out all the features on a platform. Everyone will probably agree with this opinion, but what is a black spot is, in my opinion, the demo account aims to attract users who have logged in and so they can believe, that it is easier to make profits on this platform.
It is true that a demo account is used for an introduction to a trading platform, and is also useful for practicing trading skills a little. But if I play the demo for a long time, it's not the right thing to do. Because even though a demo account is used or played continuously, it is certain that mental abilities will not be honed properly. Because all of that is caused by the absence of fear or anxiety, when using it. So practicing for a long time on a demo account is indeed not the right thing to do, because it wastes time and the results are also skills that are not very well developed.

Therefore, it's better to use a real account directly, and don't use a demo account too much. Because by using a real account, you will definitely get more lessons and experience. Even though fear or anxiety is always there, don't worry, all these feelings are the best trainers, to make a great trader. And in essence, don't be too afraid to lose in trading, because if the fear is too great, it will be difficult to develop skills.

If you guide to basic Demo trading or Demo account, as it is in the quote below.

Don't ever think that you can use Demo trading/Demo accounts in public, meaning: theory with practical understanding and things that are very much different when trading, especially in the crypto market, gambling etc.

Demo account if you keep it as your reference in the future maybe it makes sense, but if you want genuine results like Demo trading you are dead wrong, all the crypto you trade in the crypto market can be messed up or lost.

To be honest, for me the science of crypto trading is very important, rather than being guided by the Demo, the Demo is not the main foundation that you can learn, the risk is the other way around.

Remember the demo account is only that much as you have explained,
when using a demo account and we profit easily it doesn't mean that reflecting real trading will be like that,
in using a demo account it is better to focus on learning various features.

The demo account is a practice account where no money or financial requirements is needed. Yet, it's an account that one has to be serious about for knowledge and trading experience to be impacted. And based on my experience as a trader and tutor, it's good to spend at least 6 months with a demo account.

The training should however continue even if the trader has proceeded in opening and trading with a live account. This is because almost all new traders will lose on their first tries, so they often have to return to the drawing table of the demo account to try to fix the missing pieces.

Frankly, the time spent on the demo account might not matter much, what matters is the seriousness of the trader and the sincerity that he has really graduated from the virtual account category before leaving the account for a real one.