What is your honest review of the Demo account?

[Woodie]

Demo accounts might look like a waste of time but they are the perfect accounts to use for backtesting and forward testing a strategy if it works or not.

Besides strategy testing, demo accounts allow you to trade without losing real money what others might call jumping in the deepened without having the skill to swim..

Btw some brokers will require you to pass kyc before you trade real accounts but with demo accounts,  we are free to jump into these markets without Kyc.

I think every new users should try demo trading first as it helps user to be an experienced trader.

Well said, demo accounts are the perfect platform to gain trading experience though platforms like trading view will allow you to use them without the demo account  for your  experience.

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[stomachgrowls]

Demo accounts might look like a waste of time but they are the perfect accounts to use for backtesting and forward testing a strategy if it works or not.

Besides strategy testing, demo accounts allow you to trade without losing real money what others might call jumping in the deepened without having the skill to swim..

Btw some brokers will require you to pass kyc before you trade real accounts but with demo accounts,  we are free to jump into these markets without Kyc.

You would be finding this to be useful even if you are already that having the experience.It is true about back testing which is something that i do whenever i do make a new strategy which i would really be testing out

on demo phase.This isnt really just a path or thing that newbie traders should start but also a good place for you to backtesting your strategies and finding out whether it would really be that viable for you

to make use or not.This is why its not really that something where its focused only on that part.Demo trading is good if you are complete zero knowledge newbie
in speaking about trading.You would be enhancing your technicality about trading but the rest would be learn on actual experience.

[xSkylarx]

Unless that person wants to lose money by just doing forward testing, The main reason the demo was made was to practice without affecting your money and test your strategy. This is like a training ground when it comes to games; you need to go to training before going to the actual game to familiarize yourself with the controls and feel the game without getting into action just to prepare yourself. But again, others will say you can't learn because you can't feel emotions, but I would say that's true, but still, we do have our own preferences.

[GreenStox]

I think the sensation caused is different.You will quickly get bored if you do a demo account.
because you have no risk at all, I think this has become human nature, who likes a challenge and will be more enthusiastic if he is at risk, I don't know if this is true or not.
Its only my opinion.

[juhobtc]

I have never tried a demo account, I just recently found out that there is one. Perhaps if I had known about it from the very beginning, I would have tried for the sake of interest what it is, but now I don’t see the point in it, because I’m used to it without it.

[Smack That Ace]

I think the sensation caused is different.You will quickly get bored if you do a demo account.
because you have no risk at all, I think this has become human nature, who likes a challenge and will be more enthusiastic if he is at risk, I don't know if this is true or not.
Its only my opinion.

You are right, it's human nature, we will never take it seriously knowing it's just a demo account, no real money, so we will never grow up with it. The feeling will be completely different, I bet even if you master the demo account, you are just a beginner when you start using the real account. Your psychology and emotions are different, it will make you a completely another person with a fear of losing money, and uncertainty with your judgment...You will always be a newbie if you use a demo account.

[Bushdark]

Unless that person wants to lose money by just doing forward testing, The main reason the demo was made was to practice without affecting your money and test your strategy. This is like a training ground when it comes to games; you need to go to training before going to the actual game to familiarize yourself with the controls and feel the game without getting into action just to prepare yourself. But again, others will say you can't learn because you can't feel emotions, but I would say that's true, but still, we do have our own preferences.

Demo account is good but we need to be very careful the way we use the demo account because using demo account for too lose can make us lose more if we enter live trading. It is not too wise for us to keep trading with demo account for too lose. It has it own effect so mixing the two will be a wise decision.

 There are people who are very good at using demo account and they don't make loses but when they go to live a trading, they keep making consistent loses because they have been accustomed to trading without gear if losing using the demo account and when they enter into live trading, initiating the same pattern will make them make bigger loses because the market does not care if we make mistake or not.

[tvplus006]

...Do you think that should spend so much time trading on a demo account? ..

Since most newcomers come to the crypto market without any trading skills, a demo account will allow you to get acquainted with the trading platform and learn the basic trading strategies. In any case, using a demo account should be useful before moving on to trading with real money.

[CryptSafe]

OP, demo trading is very much important I must say because from that demo trading, you would get more idea on how to do or go about your trading when you go live. I have had the experience before. When I first registered an account, I was advised to try a demo account before I go live but I insist since I had done something of that nature before thinking is was of the same doings bit knowing that the technique varies. Mate, I regretted my actions then. Before o could realize my mistake I have lost heavily which made me to stop and opted to learn and ever since then, I do not just go into trading like that I do my market analysis before going live trading.

[molsewid]

OP, demo trading is very much important I must say because from that demo trading, you would get more idea on how to do or go about your trading when you go live. I have had the experience before. When I first registered an account, I was advised to try a demo account before I go live but I insist since I had done something of that nature before thinking is was of the same doings bit knowing that the technique varies. Mate, I regretted my actions then. Before o could realize my mistake I have lost heavily which made me to stop and opted to learn and ever since then, I do not just go into trading like that I do my market analysis before going live trading.

Yep! but I must admit that I didn't use the trading demo when I was starting my life as a trader. I directly try to invest in some coins and due to fomo I enter in a wrong time and lose big time. Also, demo accounts is good and he can maximize the use of it, he can also decide by using that if he need to learn more by using real money, it can also help him to make futures not only spot. All in all, most of may agree with me that we skip that part but my advice will be the same, use demo account, it is limited but helpful.

[dunfida]

OP, demo trading is very much important I must say because from that demo trading, you would get more idea on how to do or go about your trading when you go live. I have had the experience before. When I first registered an account, I was advised to try a demo account before I go live but I insist since I had done something of that nature before thinking is was of the same doings bit knowing that the technique varies. Mate, I regretted my actions then. Before o could realize my mistake I have lost heavily which made me to stop and opted to learn and ever since then, I do not just go into trading like that I do my market analysis before going live trading.

Yep! but I must admit that I didn't use the trading demo when I was starting my life as a trader. I directly try to invest in some coins and due to fomo I enter in a wrong time and lose big time. Also, demo accounts is good and he can maximize the use of it, he can also decide by using that if he need to learn more by using real money, it can also help him to make futures not only spot. All in all, most of may agree with me that we skip that part but my advice will be the same, use demo account, it is limited but helpful.

Skipping demo isnt really bad when you are a complete noob but we should really be starting up with small amounts on a live account for us to have that kind of learning.Its never been advisable that you should really

be making use of huge amount or budget when you do trade up on your first time or even on your first year.There's no way that you could learnt up trading as fast as single day and this is where newbies
do really think off and this is where they do commit out mistakes and errors.

This is why its up to yours on which path you would be taking whether taking up demo first or would directly go live.

[GeorgeJohn]

I think every new users should try demo trading first as it helps user to be an experienced trader. I also tried demo trading and learned a lot. It really helps when you do future trading even if can generate trading strategies with demo accounts.

No trader will the fact of using demo account for trading,  the reason is that demo account make people to be aware of some certain things they don't really know the way about, so I seems demo like brainstorm to whosoever that are you it, is like trying to understand some certain factors that's behind the development or the rudiments of trading. So another way to classified it, can be seems like impacting of experience of unknown things in trading to be known.

[Iadegbola34]

It's true that demo trading lacks the emotional and mental resilience required in real trading. However, demo trading can still be helpful to practice and develop trading skills before transitioning to live trading. It's essential to find a balance between demo and live trading to gain practical experience and learn from mistakes.

[ShowOff]

It's true that demo trading lacks the emotional and mental resilience required in real trading. However, demo trading can still be helpful to practice and develop trading skills before transitioning to live trading. It's essential to find a balance between demo and live trading to gain practical experience and learn from mistakes.

The demos are meant to introduce the platform and how to trade properly, although they are also meant for someone to learn strategies. You're right that it's never the same emotionally between demo and live, but at least it helps.

But anyway, the most important part of the demo account is giving every newbie a chance to understand how to trade and understand some of the most common things about trading. I don't expect they will make it into something that can help him get the same returns when trading on live account, the volatility will never be the same.

[Hypnosis00]

A demo account has been created for the sake it gives the chance for newbies to learn to trade using their platform and they can do trading while using free money. It helps a trader to become ready for real trading, however, the situation is quite different. Honestly, it was a different feeling when you are in practice trading where you can't feel stress and worry as you will never incur losses. But if you are in actual trading and using your hard-earned money, there you feel how trading looks like, there are emotions built.

[mvdheuvel1983]

I to an extent understand the point of the OP.
However, if I am to share my honest opinion about demo account from personal experience, I would say that it helped me build confidence, in addition while using it, I developed some good trading skills and risk management strategies that made trading easier when I moved to a live account. Worthy of note is that I did use demo account alone, becasue it is just a simulation and do not 90% reflect the true state of the market. So, added some resources too that helped me along the way.

[|MINER|]

What is your honest review of the Demo account?
Do you think that should spend so much time trading on a demo account? I believe that in demo trading, there are no real consequences for losing "money". If you notice, the pain is different than the one felt when you actually experience a loss on a live account. Demo trading simply helps the newbie get acquainted with the trading platform, and it should only be for a few weeks. Compared to  live trading, demo trading lacks the ability to mental and emotional resilience. For me, the real trading education starts where demo trading ends. What do you think?

1. admiralmarkets.sc/education/articles/forex-basics/...f-forex-demo-account
2. http://tradethatswing.com/when-to-switch-from-demo-to-liv...rading-real-capital/

It's true that the feeling of loss that you get when you lose money in real life trading, you won't feel the same in a demo account. And to eliminate this feeling, the system of demo trading is organized. If you want to get the same feeling of using a demo account as real life trading, then you don't need a demo account, you can do real trading.
But in my case, demo account plays a very effective role in applying new tricks or testing analysis, moreover, demo account is a good place to learn trading for those who are new.

[xSkylarx]

A demo account has been created for the sake it gives the chance for newbies to learn to trade using their platform and they can do trading while using free money. It helps a trader to become ready for real trading, however, the situation is quite different. Honestly, it was a different feeling when you are in practice trading where you can't feel stress and worry as you will never incur losses. But if you are in actual trading and using your hard-earned money, there you feel how trading looks like, there are emotions built.

But if you treat demo seriously it is the same with real one I mean it is just our emotions playing us because when we play on demo the back of our heads telling us that we wont be lossing anything so it is okay to lose and try it again but if you practice it like a real one then there are no problem on it. But again this is not for all people as others tend to learn more mostly if they lose money in real trading

[bitgolden]

OP, demo trading is very much important I must say because from that demo trading, you would get more idea on how to do or go about your trading when you go live. I have had the experience before. When I first registered an account, I was advised to try a demo account before I go live but I insist since I had done something of that nature before thinking is was of the same doings bit knowing that the technique varies. Mate, I regretted my actions then. Before o could realize my mistake I have lost heavily which made me to stop and opted to learn and ever since then, I do not just go into trading like that I do my market analysis before going live trading.

I think that is a mistake many people did back in the day, to be fair I did something similar but also not similar. What I did was I used a demo account to start learning about trading so mine is different in that sense, but I was doing great there so I assumed I would do great at real trading as well, which obviously wasn't true and I ended up being terrible and lost a lot of money as well which is the similar part.

If we really want to make a profit, then what we need to do is making sure we can understand the risks and that means both a demo account at first, but then slowly start the real one and not jump in with all your money like me on first trades.

[Mpamaegbu]

Do you think that should spend so much time trading on a demo account?

Nope, not at all. Just spend a few days on demo platform to get acquitted to the platform, then move quickly to the real thing. Demo is simulation. It doesn't have emotions attached to it like the real thing. Years spent on demo trading won't translate to being successful on live trading. In fact, if one overstays on demo trading, it could make one to panic when the real trading kicks in. Instead of dwelling on demo for long, I advise that you fund a live account and reduce your risk to the nearest minimum.