Why beginners need demo accounts

[BitcryptoHan 2557]

On 5/31/2020 at 6:07 PM, Majeshi said:

Demo account is the most important thing that we need to use before starting forex

I do not think demo is important, you are not trading with your real money. I do not do forever though but when I started crypto trading, I only make use of small amount of money as start and it helps a lot. 

[guatazoo 7150]

On 1/21/2020 at 3:04 PM, Karani said:

Every beginner forex trader needs a demo account. Aside from offering practice, demo accounts provide the necessary records for analyzing your weaknesses.

But some brokers which offering demo accounts, they are always recommending the newbies to deposit real money if they see they are winning some trades, so there is where beginners start to lose money. 

[magd 5231]

A demo account is useful in studying the extent of experience that we have and determining the strengths and weaknesses in order to avoid potential loss and thus reach good profits when working on the main accounts

[Tunuu 2235]

Demo accounts are very good because they help to give knowledge and experience to us. Starting forex trading without a demo account it will be very hard to understand the basic things.

[BTC Future 3946]

I will only need a demo account to familiarize myself with the software and how it works. I wouldn't want to make a mistake like a misclick that will cost me a lot of money. I don't think that with a demo account someone can learn to trade though. It is totally different playing with imaginary money than with real.

[Honny143 13612]

On 5/31/2020 at 1:08 PM, Saboor said:

Demo account are made specially for learning how to trade and also to test some of your strategy, not only the beginners almost everybody who is involved in trading need that demo account for practice purpose.

Yes not only beginners expert traders also use these demo accounts, because they check their strategies through this demo accounts, without invest real money and  they do daily practice also, but these demo account made for new members, to learn how to do trading and use money in trading, demo trading feature really helpful in trading.

[Raqeebzy 6456]

On 1/21/2020 at 1:04 PM, Karani said:

Every beginner forex trader needs a demo account. Aside from offering practice, demo accounts provide the necessary records for analyzing your weaknesses.

It will be in way to introduce beginners to the real world and get a little familiar with it. It depends on what you want as some will say you won't be opened to the real conditions using demo accounts (with zero emotion). However, I prefer to introduce someone to Forex from demos using either eToro or Plus500.

[iloveyobit 6599]

According to my humble information about the forex market, the demo account means that the money in it is fake and it is used in order to get an idea of the market and gain experience before using your real money.

[iloveyobit 6599]

Owning this number of Bitcoins now is considered a very huge wealth and the price of Bitcoin is still at the levels of 10k $ , I cannot imagine how much money they will have in the future.

[guatazoo 7150]

The reasons that's makes beginners to use demo accounts before depositing really money, is to trade with free risk and practice forex with confidence. 

[Honny143 13612]

On 9/1/2020 at 5:00 PM, guatazoo said:

The reasons that's makes beginners to use demo accounts before depositing really money, is to trade with free risk and practice forex with confidence. 

Obviously demo accounts made for beginner,s because if any new member join these trading platform's and start trading directly, without any knowledge and he made any mistake then chances he loss money, so these platforms provide demo accounts to practice trading and other things, once he knows everything then start real trading with real money.

[guatazoo 7150]

18 hours ago, Honny143 said:

Obviously demo accounts made for beginner,s because if any new member join these trading platform's and start trading directly, without any knowledge and he made any mistake then chances he loss money, so these platforms provide demo accounts to practice trading and other things, once he knows everything then start real trading with real money.

Of course, that's means if there was no any platform thats allows demo trading, it means thats beginners were supposed to lose large amount of money till they become good traders. 

[malik6314193 5449]

Demo account will make you expert without losing any money. So it is necessary for beginners. And by this they can evaluate their mistakes and overcome these mistakes .

[Buy me coffee 251]

It's a key point for beginners to try a demo account, it's their first time for trading! They will not risk everything they owns, and if they do not have a demo account, They must experiment with a small amount of their capital, because experiencing the platform is a very important thing before entering a high deal.

[Amr90 1064]

Yes that's right,
They also need a demo account in order to see the mechanism of activating the deals, how to profit and loss, what is the profit of each point, the various trading orders that can be used, and many information that must be known before going into the forex market to avoid losses.

[Shaheer16 908]

Demo account is for practice. So the beginner should practice on demo account and the trade on the main account. This way beginner would understand the trading and when he performs trading on main account the chances of money loss is less.

Some amount was also added in the demo account so you can practice trading, but you can't with draw that amount. 

[Abdalrazig 1865]

In my opinion a demo account is important to learn how you deal with the platform in the beginning, you will how to make and cancel orders and also how to successful trade.

[adidas21rus 37]

Trading in financial instruments and / or cryptocurrencies involves high risks, including the risk of losing part or all of the investment amount, so it is not suitable for all investors. Cryptocurrency prices are extremely volatile and can change due to external factors such as financial news, legislative decisions, or political events. Margin trading leads to increased financial risks.
Before making a decision to make a transaction with a financial instrument or cryptocurrencies, you should get full information about the risks and costs associated with trading in the financial markets, correctly assess the investment goals, your experience and the acceptable level of risk, and a demo account is the best means to gain experience.

[corrtutby 21]

You need demo account only to study interface and how platform operates. Besides this you don't need demo. Don't ever think that you can learn how to profit on demo before going to real. You will not. Real money is totally different psychology wise. After studying platform I recommend to move to real money in amount which you can manage to lose. That will give you much more in a couple of weeks than years of demo. Good luck.

[majeron 88]

Demo accounts are useful for getting used to before real trading. You can improve by trying yourself with demo accounts. It would be better to open a real account once you are sure of everything. so you can lower the risk further.

[rafa31x 198]

Because it is better to practice with fictitious money than to risk all your money without knowing how Forex works. That's why they are beginners, they have never worked trading.

[EXCOINCIAL 19]

In order to sharpen their trading skills and became professional trader or expert.

[bobjoemega 1088]

On 1/21/2020 at 1:04 PM, Karani said:

Every beginner forex trader needs a demo account. Aside from offering practice, demo accounts provide the necessary records for analyzing your weaknesses.

Count me with you +1, the most of platforms of forex trading are honest and we always find a reclamation telling you to invest what you are not in need, so they give the demo account option to new users, so people learn and know what to do before investing their money and start trading for real.

[ctrlz 15]

Decentralization is the way to achieve a long-term experience between the platforms and the user, the status quo of mega corporations with hostile character that attack their community is not a viable path, we must seek a balance to be able to harmonize together, they could having users who must reach a power level uses certain specific sections that an advanced user possesses due to their total handling of the platform, the inexperience in a certain monkey is not very good, but over time it will adapt and can have its full usability of its board .

[Antonio Mendoza 173]

You need both a demo account and real account. for example I like to use Automatic trading or Expert Advisor, all my strategies always run in demos account for a long time to see result, sometime some account crash really easy, you can imagine this, if I dont used a demo account, so when I noticed that one strategy is working property I decided to go real with my Expert Advisor.  

 

Otherwise real account help to feel that you are not joking, your money is there and you need to take action. Sometime you need to lost money to learn becuase the people that always are on demo account never felt this.