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I used to compare this with console games.
With offline games there is a "save point". That means when you die you can just load that saved game and bring back all the items that you once lost from dying.
With online games, that's not possible because there's a server that saves every second of your move. Only the owner of that server can manipulate it and may roll back into what time you still have the items.
This goes with trading too. With demo account you are willing to sacrifice everything because you know there's a "save point".
The problem is, what if you got used to that perspective and habitually done the same thing over and over. From losing more, you also lose the "will" to continue trading and that sucks.
I learned the hard way by trading directly with little amount. Thankfully, I have a little background with commodities trading.

yes in my opinion this is very important so that beginners can interact with demo trading first. To be honest, demo trading teaches all of us to get to know a feature one by one, and how to use it over and over again. So that when you are familiar enough with the exchange, you will no longer be surprised by its trading features.



there is no harm in learning from demo trading. especially if there you get new knowledge.

because the important point is new knowledge.

TA (technical analysis) or FA (fundamental analysis) is not enough to become a successful investor or trader.

Price actions and understanding on the psychological and market reactions are more necessary and more important than TA or FA analyses. Without the experience and ability to control your emotions then decisions, any analysis is useless. Because investors or traders will get rid of their plans and fall to FOMO or panic.

Demo trade can help them with test for the accuracy of their TA or FA analysis but not for emotional, psychological control & reactions.

Sum up, my answer is No.

AFAIK some exchange/website provides this demo thing for free. Some bot also allows you to test your trading method with backtesting on exchanges data. I agree that the point is to get experience and make yourself get familiar with how trading works and its psychological burden. The point is you need experience, and if there's no demo trading platform to help you learn, might as well use $100 or so to trade (assuming losing that amount of money is fine with you). But it's quite difficult to do that, since most exchange usually put a minimum trade value, which can get quite expensive if need $20 per trade.

Different people will have different opinion but something must be better than nothing; so having demo accounts will help to get some basics of trading before touching live markets rather than directly entering to crypto trading. This can be demonstrated like this: demo accounts may not guarantee you any profits but definitely will help you to manage your emotions and risks for the same markets (means practicing in forex markets and then trading in crypto markets will nullify the point of demo accounts).

No. For example, if you test your new strategy under demo conditions, how the knowledge and data obtained can be false?

It will depend on different people.The less knowledge people surely need the demo account.So they won't lose their real money.We all know,it hard to earn money in this money.Additional we can earn money only from the trading,in this pandemic.This is right time to get into full time trading and day trading.You can earn more from this day trading.

Seriously demo account is not really bad to learn how to trade atleast you will have enough experience on how cryptocurrency work, must people just believe if you start trading you start making money they don't know you can also lose your money they don't know there is risk attached to it, they don't believe they can lose money but demo account will really help them to know that cryptocurrency is all about profits and lost not only profit always. You can easily learn how to trade without losing money with your demo account.

I haven't demo traded with a cryptocurency exchange before so don't know what privileges they offer but when I was into forex (before I discovered cryptocurency) I used the MetaTrader demo account, the funds available to me made me misuse that privilege and was taking risk that I knew won't affect me even though the market goes against me.

Trying that with my live account taught me life lessons as I would had lost all my invested capital if not for the stop lost option. That been said, I just have to go with the option of not buying into the idea of demo as it'll make you relax and less concentrated especially as it's risk free although I understand how importantly a demo account can be for users without much capital at hand to risk.

Although if you want to get the real feeling, throw in some few bucks and learn with the live account, I bet you'll be more motivated when you see the potential of losing that funds if you don't get your analysis right.

Well in the realms of actually considering learning about trading, then yes, it doesn't help much. It does, however, let you learn how the trading site works, as well as some simple ideas on what you can actually see on charts. Certainly doesn't help you in actually learning when BTC goes up or when it goes down, but it does help you from suddenly making a mistake by not knowing what a certain thing does.
To make an analogy on what Ratimov said, it's like comparing high school to college, or college to the workforce. In my case, it was the latter, when I entered college I basically threw away everything I got from high school and started from scratch simply because there was a stark difference between how HS hit me and how college hit me. And just like other cases, transitioning from college to the workforce isn't exactly an easy experience, heck some people can go straight to the workforce (which is imo, much ideal especially now with how you can learn everything by yourself).

I quite agree with almost everything you said, but I will still say that almost everything runs down to mentality, I traded Forex before I got into crypto, and when I started with forex, I started with a demo account which I traded on for over 3 months before moving to a live account, I personally think that where people make the mistake is after getting out of demo, they falsely and unknowly assume they are already perfect and start a live trading with all their life savings, using myself as an example, I demo traded for over 3 months, and when I decided to go to live trading, I start with 10$ even when I had the opportunity of starting with above 50k$, I started with 10$, and after 4 months of trading, I was able to grow my 10$ to almost 100$, and yes, there were many mistakes and losses, but what's most important was that the profit was there too.
One thing I think that's very important that most people normally neglect is patient, most people are always in a hurry to start making plenty of money that they will be able to use to take care of their daily needs, and I think this lack of patience is what drives most people to loosing  it all.

Not that necessary but it would really be good if you do consider on testing out your strategies when it comes to demo trades or simply making out some backtesting out of your analysis

but if i were to say or recommend then better go live trade with lesser amounts.You would able to learn up because you would really be serious on dealing up with things

because you do know you are risking something unlike on demo that you would really a bit confident since you know that you arent losing anything.
Also it is totally different when it comes to emotional aspects.

You know, with the fact that, demo simulations actually works in periperso with the actual market, practicing with a demo account is the best way to go. Though,  the leverage on the account with respect to the amount of funds that is always avail to a beginner trader is often too huge and one mistake or error s to how a beginner manages his or her funds could be very disastrous when the beginner gos into the actual trading as most strangers when its really time to trade a real account are often less on capital and it would very much seem destabilise your choice for a lot size and the rest.

So, demo trade but don't be carried away by the leverage your already used yo.

When im starting to trade then i had tried out to play or trade with demo first and those were the times where i had decided to put or risk out on forex trading so that was before crypto trading exist where you can really learn with the basics and terminologies and the technical tools that you would able to use later on which is really that helpful  but when it comes to fund management then its different because you do go all in and
once you busted your balance then you can simply ask out for replenish and thats the thing i dont like and i agree that you do get confident when you do trade which is different
so its up to ours if we would realize about the differences.

I think its necessary because if you are going to use a specific platform and as a newbie, you should familiarize yourself first before you trade so having a demo account will allow you to access the platform, know the basic knowledge about buying and selling on that platform and when you're ready you can now trade on real time. I assume the moment you create your account for demo trading you already have knowledge on trading because Demo account is not created for that purpose, you should learn how to trade outside of that platform, like reading books about the charts or watching tutorials online.

I won't say there is a huge difference between demo trading and live trading but a slight change can be noticed in prices in demo and live, the spreads may differ and there may be wicks in demo or live (depends on how the broker plays it out) which can wipe out the position. But demo does give various experiences which can be helpful if learned correctly as it also depends on how the traders grabs the knowledge he expects from a demo trading account.

If you can't afford to burn your money at first try you can use demo account for practice for sure you can learn something which is useful for your trades but there's a slight difference in real time trading but you can develop your strat by using that practice method. Its better to practicr first rather than crying later so we better used that for visualizing the possible risk we might possible encounter.

a demo account is needed for those who are a newbie to trading imo...

Trading is not something that should be underestimated, if you immediately start a real account without any preparation and knowledge you will only experience losses. practicing with a demo account is fine, but not too long.

The name itself have the reason why it is here, demo account so its actually to know how things works like a tutorial guide we see on every electronic items we buy but its actually useless though because 99% of the people are not going to read them since they have basic knowledge about how that system works.

Trading on a demo account is waste of time, its better to try with very small money so that you can experience the actual pressure and emotional while involved in trading.

Trading on demo is not a waste of time for a newbie, this strategy can save them from losing even those small money.
I'd rather trade on Demo than to deposit my capital right away, that's too risky for a newbie. DEMO account are for those who are still not familiar with the platform and in trading but want to experience the market on real time, this is your choice anyway and no one forces you to use DEMO account.

But do you think a newbie is going to be very serious with his strategy while doing trading on a demo account?

Even if he do there is not going to be any rewards for them so they won't do it or they won't learn anything. The purpose of the demo trading is to get familiar with the trading platforms and its interface.

Having a demo account when you dont have any experience in such thing is actually a good idea to practise your skills in trading. Wherein it can help you to obtain knowledge and strategy.. This is highly recommended to be honest and indeed we should very grateful to have this kind of thing which very useful for all who wants to learn in trading..

Demo account doesn't teach you to become a good trader and most often this demo account make their customer good at it so they get too confident when doing it live. I've never tried a demo account before, I prefer doing it on a live platform because you will really know how much you can lose. You won't feel anything if you lose in a demo account because it is not your money. Plus it is not bad to experience failure when trading as long as we learned from it, of course we should just use a small amount of money when practicing to become a trader.

I agree. demo accounts do not educate us in terms of trading psychology. we will find it easy to analyze on a demo account, but it's different if we try on a real account, psychological pressure is certainly there. whereas psychologically, in my opinion, the most decisive thing in the success of a trading

- Losses are something newbies will soon need to face directly in the trading market, the use of demo account is not necessary for such escapes, you become a trader and you need to mature in the fastest way, living in a demo only makes it difficult for you to face reality and fail. Speaking of trying to get used to the platform, lots of tutorials are available on many online sites, youtube also has a lot of such videos, deposit some money in main account and start fighting is the way we should learn, demo is not so suitable in crypto

Without making losses you are not going to be a good trader, every single trader makes a loss and then make a profit that's the type of thing that makes you better in the end. I do not understand why this new generation is so caught up about making a loss, they cry about it and some of them panic sells and leaves the market completely and keeps whining about how bitcoin is a scam and so forth.

The real trader and the actual smart person would end up with rolling up themselves and keep working and work to make that money back, there is really nothing else you can do, everything else is just bs, you just go back out there and work day and night and make that money back. If you are not sure about your psychology and if you are not sure about your emotions, simply just do not trade? I mean I have most of my money in long term investment as well, go do that.

The best approach for a noob in trading is to start with some small bucks, I quite agreed with the OP on that idea, there isn't any emotion in demo trading you just pull the trigger at will not mindful of the outcome of the trade.
Personally I started live trading in Binance with some bucks navigating from spot to cross margin trading just to get feel of live trading and to control my emotions of course I incurred some losses and made some profits as well and tried to correct my failed trades presently I don't entertain any fear in trading while following my strategy strictly with money management.

I have been against demo accounts precisely because of this reason, the most important skill as a trader or investor is not a great ability to predict the markets but money management skills, and this is something which cannot be learned by using a demo account, after all a paper loss of 10% is nothing, an actual loss of 10% will be incredibly painful for most newbie traders to the point they will make even more mistakes in order to get that money back, so it is imperative that those which really want to learn how to trade use real money in order to do so.

In my opinion, whether or not one should try out demo account trading for practicing trading ultimately depends on the trader. I know of traders that started their trading careers by learning about trading then leveled up by using a demo account for practicing everything they've learnt and they did well in the long run. I've also seen traders who after trying out demo trading ended up having a terrible trading career. Every single one of us is different so the fact that demo account don't work for one, doesn't mean it won't work for another. The points made by @Ratimov are all valid points. I'm not trying to dispute that.

Familiarize while you still can because going directly on trading without even you knowing even with the basics will really be that hard even though the amount would be small but its still money.
I havent tried on demo trading because i do directly make out some small deposit and familiarize those terms in youtube and other write ups which you can found in the net which is really helpful.
This is why do your own research as things you do need to read up can really be found online.Its up to someone on putting up efforts on how to learn things.
Its not necessary but not really a bad start up for you to deal on first.

Yeah, demo accounts trading are not going to make you become a professional and trade with steady profit. The way I understand demo accounts is that they are just there to help you know how trading works; helping you to understand the basic things. That's why you can be trading on demo and winning ,and when you finally start real trading you will start losing. That's to show the demo trading doesn't automatically make you a pro, you still need some serious lessons to be able to pass. So a demo is not enough , you still have to work hard and learn technical analysis to be able to trade well.

I guess demo versions can be good for complete newbies, who don't know anything about trading and wish to learn some basics, without risking any money! But without the real risk learning process is slower, you don't get hurt when you make a mistake, and you don't get a reward when you do something good! Both reward and punishment are making a learning process more effective.

I agree that a demo account can create some false feelings, and that can become a big problem once a person decides to invest money and try trading! It will be like they know everything, they make money in a demo and it will be easy to make money in real trading... false self-confidence is worse than ignorance, it can lead you to huge problems!

I have used demo account in forex trading before but I am yet to come accross demo for bitcoin trading! It important to get familiarized with trading in general in an atmosphere of low to no pressure! Demo trading kost often time construe as a skill learning excercise of which I do jot agree with! The live trading however is totally different and come with risk that could be grave! The bottom line is to practice until you know what you are doing and then, you will becreaping the reward of your effort!

demo can only practice our trading techniques, but this is certainly different if we are trading real, there will be a lot of pressure in a complex way, of course psychology is the most pressing thing in this business. so don't be surprised if we already feel proficient in demo trading, but we have difficulties when trading real, because the two things are very different

of course very useful, demo accounts can be used to train new users, or amateur traders,
yes demo account are really very useful, but only some exchanges provide demo features in crypto trading,
Unfortunately Binance, Bitfinex and Huobi don't have this feature

Now that TAs are mentioned, I recall back when I was day trading I only learned certain TA tools like Bollinger Band along with RSI.
I cannot quite pinpoint already how did I use it but it helped me as a beginner in my day trading back.
Too bad that I switched back into long-term already.

You are right and also we do have all the control on what are the things we've been dealing with.It doesn't really matter if we do switch up between position neither a short term or long term as long you do know on what you are doing then that's important. Active trading is really exhausting and I do able to experience it out
and decided to make some swing trades instead since I don't have that enough time to make out preparations or analysis on dealing with the market.
Asking out if demo trades are suggested or recommended then I can say yes and for the sake of familiarity of the platform since majority of them
would really be just the same.

Demo account for exchanges are extremely good, I don't find any bad sides of it or negative at all besides the trading volume compared to the real market (this is already given).

Additionally, what's on my thought is the emotion will become different if a trader knows that he/she is trading on the demo account for sure. This time, a trader on a demo account could be more greedy since that money is not real, so this could be also handled if you are using a demo account.
You should start practicing risk management at the demo account so if you are already in the real market, you are already prepared.

I think a demo account is actually good for a beginner trader because as you have said, there's no major obstacle which means that a beginner can purposely make big mistakes and learn from it without the worry of having to lose a lot of money.

I would say it is necessary, it is not a must, it is not a forced thing, it is definitely not going to end up losing you money and you will become a good trader without it if you are sure what you are doing is the right way.

However if you do that, you are going to be better so why not do it? I mean if you can test yourself on a demo and then fail, you know that you need to study a lot harder, and that is going to be something very valuable. Why throw that away when you can just keep doing it? That is why I am not so sure about what to do, I want to say that demo is not a must and I said that but when something is so great to help you, I would say it is a "psychological" must? I have done it when I first started stock trading in 2010 and I am still using the same account and doing the same demo there, because why not? It is a fun game while being a good lesson.

beginner traders need a demo account, because there we can minimize losses from studying there,
yes many still don't have this feature, look at Coinbase, Binance and even Bitfinex also don't have a demo account feature,
I hope Binance opens this feature so that beginners can also learn without a risk

Demo account is not a required thing to do but it is very advisable. I personally think that a demo account is not just to practice you how to trade but it also gauges you on how you will trade in the future. You can develop habits along the way on your demo account and it is bad to develop it using real money on trading. Beginners tend to experiment on trades, finding techniques to improve their trading skills but losses are expected on experimenting, It would be efficient if you experiment first on a demo account and if you find it useful you could apply it into real trading to avoid losses. Also, Controlling your emotion is the first thing to do in demo trading. Even if you have an unlimited amount of money on a demo trading account doesn't mean that you don't care about the results anymore, Remember that you are a beginner and you are there to practice gaining not losing. Putting a good mindset at the beginning will bring you good in the future

Majority of then doesnt have this demo feature but it would be great if they would be adding one because just like youve said on where it would really
be helpful specially to those who are just starting up to trade on where familiarizing everything from platform use until to trading basics when you
are just starting up but you can eventually learn up things directly even with real trade or deal up with the platform with real money
involved.You would really be more serious since you do know you are risking something unlike on demo trades.

but keep in mind, demo trading with real trading is very different. Of course the psychological pressure. no matter how good the technique is, but weak in psychology, of course it will be destroyed in this business. therefore we must understand the benefits of demo trading

That's what I said in my post, demo accounts help beginners. Demo account is basically a sandbox for beginners to make some experiments that will be pretty stupid in real trading to learn the mistakes. Also, it's not even minimized loss because there is no loss.

Long-term trading can be profitable only if you correctly determine the direction of the market movement. Otherwise, you can turn from a trader to a holder for a long time, which can be calculated in years. If you do not need to regularly withdraw funds from your crypto wallet to meet your needs, then long-term trading will be more attractive.

In my opinion, I believe it is very important and necessary to practice trading with a demo account as a new trader. You get to explore strategies without the risk of losing any money. You can test strategies and know which works best for you.
However, it would be unwise for a trader to believe demo trading is all there is to trading. I believe it's necessary to also practice trading with some amount of money one can afford to lose. That way, one would be under the pressure of losing money and that would prevent one from making unnecessary and irrational trading decisions.

But I think the question here is if those people that actually became successful did learn something from using a demo account that they would not have learned otherwise by using a real account with a very small amount of capital? And personally I have doubts this is the case as those people would have learned the same lesson with their small accounts while those that used demo accounts and failed would have learned more by using an account with a small amount of capital as they would have learned a lot sooner about money management skills, after all no one likes to lose money even if the amount is small, but instead they left the problem unattended because they did not care about their fake losses.

You do not "have to" have it, you should have it, there is a big difference. Just because you do not know and still made profit doesn't mean that people who know it do not make a profit neither, there are tons of people who made a profit using TA, this doesn't mean it is the only way, it just means it is a good way to make a profit. I in no way mean that if you do not know TA there is no way to make a profit, luck is the biggest part of making profit, that has always been the truth and will always stay to be the truth, without luck you can't make any profit at all no matter if you use TA or do not use TA.

However knowing it and seeing what the market is doing is a great help, most people who profit without TA just guesses the same thing, whereas people who know TA sees it, that is a big power to have. However we all could be wrong with just one tweet from Elon so it doesn't really matter.

I just give my thought too, in demo trading the newbies are just giving an insight into what is in the trading and what is the scenario how it comes just the basic of each component it's just all about that. The real trading will just happen once they made risk to this trade. In demo trading, they don't afraid of how much demo balance they deposit and if they lose it's ok it's just demoed money if they win thinks it's just they easy as that. If they make real trading each time and decision they made it's all about the risk to win or to lose.

That's why for me Demo trading just for an insight into the functions is a help. If a trader wants to experience a real deal make a risk of your money.

While I share most of your point of view on learning to trade with demo account, however. they nonetheless remain kind of a laboratories both for newbies, as well as experienced traders. Point is. every business has its secret, in trading it's neither exclusive with learning with demo or live account. but the wealth of knowledge one ends up with. And interestingly. it's also a possibility to also demo trade a live account by paper trading it.

Well at least, on the demo account you have been familiarized with the techniques and movement in trading and for me, demo trading still an important step for a newbie before you will be going to the actual market. After the demo, you can start with a small amount, but of course, it does not mean you will also copy the strategy on demo trading, it should be your experience in the market and the real experience is to try with a small amount. I believed in trading that practice is the best option to become successful but of course with knowledge though.

I do feel Demo account is fine if you want to know how trading works. How charts works, draw your prediction, testing out indicators, etc.

BUT
Like you said, it doesn't help you to learn when you do real trading. There is no such thing as managing your emotion, money management, fundamental analysis, liquidity etc.
It's true that if you want to learn, you can just spend small deposit into your account and work with it. It's much better than using demo account.

It works like internship, where you learn the way it works but it pays you nothing because you don't do it in real cases.

A demo account is very helpful when you are new to trading, I actually did this before but it has a huge difference when you are in real trading and when you are using real money. Because in this stage, there is something we created emotions and that most people got wrecked for they can't control it. But, you were able to survive this challenge, you'll be reaching your goal and succeed.

TA's and FA's can't learn instantly but as we continue trading, we are also enhancing our self to understand that market trend and able to reach the chart leading to create good analysis.

I think it will be beneficial if beginners will have demo account before doing actual trading to somehow assess himself on the knowledge and capacity he have if he will surpass and survive the volatile market and make profit from it. By this, they are somehow seeing a simulation of events on how does actual trading looks like to see by himself on what does he lack so he can make improvement from such weakness you currently have.

Yes, one should acquire basic trading knowledge via demo trading accounts which helps in reading charts, how to implement indicators and you can also test various signal providers and make a list of good ones and later use them when you trade.

Demo trading accounts are just meant to teach you various features like stop loss but you need to trade with money to acquire skills like how to avoid panicking. One should learn with demo trading accounts and once they feel they are ready for trading, start with 1% of your actual capital and see how it goes for a few weeks at least. Once you are regularly profiting and feel capital is lacking, it's time to GO!

Yes the psychological level when trading on a demo account and on a real account is very different, so if we want to learn margin trading, first it is better for just a few days do it on a demo account, then go straight to a real account with a small deposit on a micro account. And micro accounts available on several forex brokers, such as FX OPEN. The first important thing in trading, is to use the transaction lot according to the trading balance, like only using a stop loss of 1% of the total balance, so that if we lose consecutively in 5-7 trades, then we only lose 5%-7% of the balance, and this will not make affect for trading psychology and we can trade again without bad psychological conditions.

In my own opinion, this is suitable for those who are still afraid in taking small risks even for just a few bucks. It’s kinda a training ground for them in getting familiar on how volatile the market is when they are going to use the demo funds in the trading simulator or so. It’s still helpful though for them though, but it’s way better to do actual trading with our real funds.

Absolutely yes, it's very necessary and important for a beginner to practice demo before tackling real trades, the demo account builds so many things in the newbies, anxiety, fear, and many negative psychology are what demo account helps, most of the advance traders today started from using demo account and it helps a lot in building your mentally, trading is not things of the weak because it had led to so many suicidal occurrence.

A demo account will not be a problem for a beginner trader because that can help them know what trading is and learn about the command to trade. If they can learn more from many sources, they can learn directly from the demo account to know how to trade and when they use the real account in the exchange, they will have more chances to make a profit. It can help them to try many strategies to trade before they use their own money to trade. If they can improve their skills in the demo account, they can prevent the loss because they can improve their strategy with the current situations in the market.

I think it was normal for us to make some trials before we start for real trading. I did it before and it was a big help but it is actually more different when we are in actual trading in which you can certainly feel when you lose and when you win. But it has to say that more experience more learnings, I think having these demo account for practice gives us some hints of what we gonna do.  

Well in my personal experience, it helped me a lot to make a demo account, especially to test my strategies, in my plans they rarely worked for me and I really felt that I protected myself from many bad operations and therefore from losing money, Of course, I really wanted to trade with real money, but I managed to be patient, until little by little I felt the security of doing real trading, and I learned very well about all the Exchange tools. It is also necessary to emphasize that most of the times the demo account tend to make the person win quickly and feel safe to do real trading, the important thing is to know how to handle that emotion.

This point is important. While you learn the management of funds and various other things but you will never have the same tension as you would have in real trading.

You consider betting with virtual money on sports, you will enjoy the gambling but when you do the same with real money you will feel tense and that is exactly what happens in trading, when your life savings are put on the line and your portfolio is dropping, you will always feel the pressure and will be under the pump which forces out mistakes.

I am not saying demo trading is not worth it, but at times you need real trading experience to cope with the real tension. Playing video games and boxing in games doesn't prepare you for real boxing match :).

If you don't have the experience needed for trading, I think that you can use demo trading, plus you can always make a lot of mistakes in there without losing money and at the same time learning from it.

If someone underestimates demo trading, it means he doesn't understand the benefits of demo trading. As you have already explained that demo
trading is used to gain trading experience without losing money. Apart from trading knowledge, we also need trading experience to become
successful traders. And we can get trading experience with demo trading, I have spent a lot of money to get trading experience. Since I started
trading in 2017, I didn't know there was a demo account that I could use to learn to trade without using real money.

Exactly what I am saying, I am pretty stoic with my stance that demo trading is helpful for beginner traders because of the risk free nature of it that can help you commit to things that you will have doubts because you might lose money from it.

There is nothing such as the necessity of a demo account for a beginner in trading. Even experienced traders can use a demo account from time to time.

These accounts are used to understand the dynamics of trading in real-time without the involvement of real cash. Using the demo accounts instills confidence in the traders, especially the newcomers for carrying out successful trading transactions in the future. Moreover, these platforms can be readily used for trying out new strategies and exploring different market options without experiencing any loss since no real cash is involved

Several brokers like turnkeyforex, forex.com, and others offer demo trading accounts to users that can be helpful.

It's only the metatrader that could provide a demo account but when you really are in crypto there is no test drive there. And you don't feel the thrill when you have it in mind that you won't be losing anything if you lose a position. There is nothing that will encourage you to learn when there is no risk.

In crypto, you should just start trading on the spot market to feel the risk. Some of the traders learned it all too well that they made it with leverage.

I'll state my opinion :)
As I gain more and more experience, I understand that for newbies, trading with demo account is really just a waste of time. When you trade with demo, you don't experience any pressure and anxiety and do the things that you wouldn't really do if it was your money. You are careless with demo accounts.

As OP suggested, it's better to create account and deposit some bucks. Hm... It's better but not the best. Depositing some bucks is a good way for you to get familiar with exchanges, spot/margin/futures trading, leveraged tokens trading, etc. But when you deposit $1000 and don't play with bucks, situation changes and you feel very nervous/anxious with every step. That's where a lot of traders lose and fail. But wait, this can learn you a lot of things. You learn and understand a lot when you lose. When you win, you are captivated with the rush and don't think about anything, don't think why it was a right move, etc.

So, I suggest if you are seriously interested in trading, start with some bucks to get familiar with exchanges and services/features, then risk some money that you can afford to lose (look at it like a $$ that you have to pay to gain knowledge). You need to fall to rise, trading always reminds me Phoenix.

Though we can go directly to the actual trading, It gonna be more advisable to have a demo account before starting. Not only it gives us an idea of how to make a trade but also it helps us to familiarize ourselves with a certain platform that we are going to use. This a sort of trading preparation and the benefits we've got from using the Demo account will help for better results.

Demo trades are good for familiarizing platform tools and terminologies but it isnt really that necessary since you can learnt it up all directly even if you dont make out some demo trades.

When im just starting to trade where i do directly put small amounts directly on binance as far as i remember and of course using up that beginners and dont go for advanced.

You would eventually learn it up as long you do make longer trades day by day.It depends on how someone copes up to trade because not all would
really be that fast learner on getting everything in a short span of time.So it depends on how fast learner you are.

To be able to participate competently and without wasting extra time and asking more basic questions, even problems that may be confusing and arise behind the scenes of directly participating in the actual trading, we should start from the account demo, after completing such basic tutorial tasks, we will not need to come back here looking for answers about some strange documents or tools. The demo may not be a perfect description for the real battle but it does have the basis for newbies to absorb and add weapons to upgrade.

True, demo trading still helps alot, I remember during the early I started trading, I was using a demo account and it helped me out alot cause I was able to test different trading strategies without losing a single dime and it was freaking awesome, a noob in trading shouldn't be testing their trading technics in a live market, demo is the best place to test and learn more of how the market works, before using a real account to trade.

Just as life is in stages that you cannot just get into the College without passing through high school first, so also it entails for trading. The importance of demo trading for beginners first cannot be overstated. Because money is involved, jumping straight into a live trade after one has just learned the theory aspects of trading will certainly mean that he/she has signed a deal to start loosing money from day one, and most definitely, discouragement will set in and one might quit.

A demo account is a platform to practice and prepare yourself for the real trading world.

We really have to try first using the demo account so you can know how to operate in the market because newbies will always have a question in mind and if you read more details about trading it doesn’t mean that you already understand the market. I believe on using demo account first before your actual trades, this may be look boring or a waste of time but you can surely learn from this.

It is a stepping stone for a better and wider understanding of how trading it works in real life. Many people have overly confident about this, yeah, it was easy to look at. In fact, this is my first impression about trading but when we are in actual trading, there we can say how hard it was. Honestly, you'll somewhat become crazy if you never know what to do, and most probably, it does nothing good but all are mistakes.

Demo account is like experimenting, because to understand how the market works is important. There are users who directly get into trading without knowing any basics about using the trading applications. Even this could cause big losses. Having a demo account with small play money will help beginners understand and do the right thing.

Demo trading is good to build a strategy, also it helps to know how the real time movements of a particular market looks like before going into live trading. Like we all need know that emotions is not attached when demo trading cause it's not a live account and if eventually money is lose, there be no regret or further emotional feeling  maybe because real money is not involved.
The major problem here is, it can affect one's trading if it is use for too long cause the real emotional feeling that is attached to real live trading especially if loses continues will be very intense, developing weak feeling about the effectiveness of  working strategy that an op is using.

Exchanges will start all new users with a Demo account so that everyone can start using and familiarize themselves with the exchange, its features, and a more streamlined experience for the floor, so a Demo account is very necessary for those who are just starting out.

I think demo account is very important for beginners to do before trading in real crypto market, you can learn, practice and hone your trading skills without fear of losing.
and it doesn't mean you just learn and practice carelessly because it's not a real coin that is traded, you also have to really study it well before becoming a good trader.
much for
You can find demo accounts on the internet and youtube, but you have to find one that is trusted and can help you understand it well.

See what I'm getting at? Your testimony is an evidence of how demo trading is an effective tool for practicing and gaining experience, you can freely make mistakes in demo trading to learn how to avoid it.

Not only in this trading world but also all every place something DEMO is really needed for the new comers. Maybe we who are very familiar with something we can not feel the feelings like newcomers on that place. When newbies have a advantage of using demo account to test the website/or even in real life, they feel good and there confidence increased a lot. So I also think it's really very important for the newcomers.

But you should be careful or be mindful that even if you are doing good with demo but doesnt mean that you would already be good on doing the real thing because it is way too different when we are already dealing with real money since emotions isnt something that you can handle or could control out and this is one of  the cons when you are making yourself way too confident. You dont know about risk management
because when it comes to demo then theres no involvement with real cash so its totally a different story.

Instead of risking real balance, using demo accounts will protect the trader from heavy losses unless newbies luck kicks in. The only downside of the demo trading experience is the lack of controlling emotions because traders will not behave in the same way on demo vs real accounts. Btw money management and controlling margin/leverage can be different depending on the greediness or fear level of the trader.

But the question is, the demo trading actually makes someone to be better in their trading success? I guess no and people who also not going to give much importance when they trade with the free money so the actual trading teaches the actual crypto trading expereince.

We can say that demo account is not necessary but it is very helpful for beginner traders who want to have analysis of trading but don't have money to put in the market.They can try to learn from the various options on demo account and learn to study the charts,TA,FA which will boost your trading skills.You don't need to burn the real money at first instance and have a practical experience of the market.Just imagine it like a vocational course free of cost that gives you some real life skills to manage funds when you become trader.Most traders test their plans and strategies on demo account first and check and have an idea of the success rate.So you can say it is boon for new traders.

Leveraged trading without demo experience, don’t think I would be up for such risk :)

In my opinion, demo account is for testing the technical part and emotion part will come into play only when your technical things are not good. So, if we are practicing and developing good technical skills with the help of demo trading then you can easily gain control on your emotions even with demo accounts.

There are some discipline you must need to follow while trading in demo account so that the purpose of demo accounts will get fulfilled. If you're not ready to take care of following certain set of rules in demo trading then you should never go for it. It is all about your self-discipline.

If you are very much eager to learn the skills of trading then you can effectively make use of demo account so that you can gain real-like experience from free money itself.

Using a demo account has its pros and cons. The reason why I don't particularly favor the demo account is because one can successful trading a demo account and when you open a live account everything seem to go wrong and you end up blowing the account. Not because you're a bad trader but the psychology is different when you're trading your own money.

no matter anyone when using something new we need to learn how to use it and in trading too, when you start trading at any exchange the first thing you need to do is create a demo account and familiar with the functions of the exchange and how to trade there, this is very important, as it will guide our future trading on those exchanges.

Would really be much needed when you are just starting up or trying to familiarize everything, it isnt necessary to be all but it would really be helpful into your career on knowing even with the basic terms and indicators which you would really be encountering everyday.

When i do just start up on trading then i do really start up with demo even though funds are not real and doesnt involve that much on emotion handling but at least you are already aware with those things that you would be using everyday.

When you are ready to face up and make some live account going for real trades then its up to you on how to sustain up yourself.

Yes, it is of course necessary to have a demo account for beginner traders. By doing so, traders can be guided on what to expect in the real deal, have an actual experience to familiarise how trading works and apply all that insights from the research done.

More emphasis should be placed on real experiences and methods of working as a real account in the demo system because these are the parts that beginner traders would love to skip, more precisely, the demo system has the disadvantage of providing too much virtual money for one account, such support is extremely good but too good becomes impractical and loses the market's difficulty, so beginner traders need a few small adjustments in capital, not too much and in line with official capital.

Yeah, there are multiple benefits a beginner could enjoy out of demo account rather than directly kicking off with real account. People are always concerning about emotional thing in demo practice but only just because of that, we should not downgrade the purpose of going for demo trading.

Demo trading must be very good for testing all your strategies and technical parts. To get familiarize all the market environments, I believe we cannot get anything better than demo trading.

These days people are working hard to get "likes" on instagram/tiktok, similarly why not we put all our efforts to increase those fake money so that we could gain the actual experience of trading? It is all about how you are approaching. If you treat your trading more valuable like it could support you for leaving then we will start with the demo trading like how you are going to be caring your live trading in future.

Nothing will come to day-to-day routine suddenly; first you need to practice, for that demo will help you definitely.

You got a point actually as from what I differently said here in the thread not that long time ago.
It would be like testing the waters first in your demo account.
Personally me? I never did a demo account when I was still starting up in my day trading and surely it went really bad for me making me instantly quit it and just go for long-term investment.