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[zanezane]

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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.

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.

[sujonali1819]

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.

[Fatunad]

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.

[seleme]

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.

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.

[semobo]

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.

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.

[aysg76]

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.

[vanessacummings]

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.

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

[bitgolden]

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.

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.

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.

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.

[Pokapoka124]

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.

[maisao1991]

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.

[Oilacris]

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.

[john_nautica]

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.

[geegaw]

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.

[FanEagle]

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.

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.

[isaac_clarke22]

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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.