What is your honest review of the Demo account?

[Finestream]

Anybody who used demo trading accounts as away of learning day to day live trading is lying to themselves. The biggest component of trading is emotions, without real money, there are no "real" trading emotions

Demo accounts are only good for newbies if they are trying to learn how to make orders, create stop losses etc. Besides, most demo trading platforms are illiquid and do not depict the actual trading environment. A good example are the Binance and bybit demo trading platforms. They suck in every bit, especially if you are an experienced trader.

Exactly. Demo accounts will hinder you from experiencing real events in the live trading scenario. Though it can still be helpful at first, but when you think you have gained already an idea on how trading works, then start trading for real. Set yourself to explore and trade on the real crypto market and let’s see how you can manage and control your emotions when you are trading. Know that demo accounts will not help you control your emotions, but in live trading, you are letting yourself experience the real trading world and experience some inevitable losses more than some small gains.

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[Captain Corporate]

I like to test some strategies there as well, that's a good method. I mean I know that its not that easy to find a good one right away, so why not try it on a demo account first and see if it will hit and it will be good, if not then I could remove it. That way I can spend as much time as I want to on testing it, literally could have 10 different accounts and 10 different strategies running together for many months before I make my decision. No need to rush, no need to make a decision, I am not losing any money anyway, its just free. This way I make sure if it works or not, and if it keeps on working for many months then I give it a try. It may end up failing even after that, but the ones that fails on demo usually end up being the worst ones so its much better not risking any money this way.

[carlfebz2]

I like to test some strategies there as well, that's a good method. I mean I know that its not that easy to find a good one right away, so why not try it on a demo account first and see if it will hit and it will be good, if not then I could remove it. That way I can spend as much time as I want to on testing it, literally could have 10 different accounts and 10 different strategies running together for many months before I make my decision. No need to rush, no need to make a decision, I am not losing any money anyway, its just free. This way I make sure if it works or not, and if it keeps on working for many months then I give it a try. It may end up failing even after that, but the ones that fails on demo usually end up being the worst ones so its much better not risking any money this way.

On what others mentioned then it would be pertaining about backtesting of your trading strategy then doing it on demo would be the best place to do so and not on a live one but if you do really like to feel out

that thrill on having that testing on a live account then its up to you but if you dont like on wasting up some capital or money then demo would be the sweetest place. The only issue i do see on using up demo

is that you cant really that able to enhance your emotional aspect on which just like on what been said that you cant really lose money on here which means that you would really be not minding much on what
ever actions you would be making. You do know that you cant lose money on here on which it would be normal that you would really be that not serious on taking positions.
Its up to someone though because back testing is never been that something  you could ignore, you would be testing out a particular method or strategy on various market conditions
on which you would be finding out ways on how it would turn out to be beneficial.

[omgitsmehehe]

I like to test some strategies there as well, that's a good method. I mean I know that its not that easy to find a good one right away, so why not try it on a demo account first and see if it will hit and it will be good, if not then I could remove it. That way I can spend as much time as I want to on testing it, literally could have 10 different accounts and 10 different strategies running together for many months before I make my decision. No need to rush, no need to make a decision, I am not losing any money anyway, its just free. This way I make sure if it works or not, and if it keeps on working for many months then I give it a try. It may end up failing even after that, but the ones that fails on demo usually end up being the worst ones so its much better not risking any money this way.

Trading requires more techniques in handling our trades, I do triggered trades on my own without the knowledge from others, whenever I noticed an entry, I immediately triggered my positions and setting TP and SL, sometimes I earned and sometimes I record losses. Failing and attempting again is what basically results to consistency, the only way to keep pushing until one achieve the ultimate target in the market. Executing different strategies is recommended inother to select the one that best suits our trading style. Demo accounts do prepare us for we should expect ahead, because it's not a live account and we have absolutely nothing to lose.

[stomachgrowls]

I like to test some strategies there as well, that's a good method. I mean I know that its not that easy to find a good one right away, so why not try it on a demo account first and see if it will hit and it will be good, if not then I could remove it. That way I can spend as much time as I want to on testing it, literally could have 10 different accounts and 10 different strategies running together for many months before I make my decision. No need to rush, no need to make a decision, I am not losing any money anyway, its just free. This way I make sure if it works or not, and if it keeps on working for many months then I give it a try. It may end up failing even after that, but the ones that fails on demo usually end up being the worst ones so its much better not risking any money this way.

Trading requires more techniques in handling our trades, I do triggered trades on my own without the knowledge from others, whenever I noticed an entry, I immediately triggered my positions and setting TP and SL, sometimes I earned and sometimes I record losses. Failing and attempting again is what basically results to consistency, the only way to keep pushing until one achieve the ultimate target in the market. Executing different strategies is recommended inother to select the one that best suits our trading style. Demo accounts do prepare us for we should expect ahead, because it's not a live account and we have absolutely nothing to lose.

Using SL is really just good when you do make out some short trades but if we do speak about long term or wide or swing trades then it wont really be that necessary.It is always been best that you should really know

on how to identify a perfect entry although it cant be perfect but somewhat really that considered to be a good spot to trade in.It doesnt matter on how we would really be doing it, what matter most on here is that
you do really know on what you should gonna do. Demo accounts is really that good on testing out a certain strategy on which you would really be that having the idea on when it should be used.
We know that most people would be directly be making out trades on actual phase on which using up with real money.I would say that it isnt bad but it would be wasteful on losing money on just those trials
or on the time that you are still familiarizing but well this is a personal choice.

There are people who had been aware about demo account but still that pushing about on using up that live ones because they do really love to directly feel up the real essence on dealing
with the market with real balance, well its their choice to make in the first place.

[Fivestar4everMVP]

When I was starting out as a forex trader, I started out with a demo account, it really helped me gain so much insight on how trading really works, it didnt just help me get acquainted with the trading platform, it helped me learn quit a lot as well, the only downside for me is that the minimum amount of virtual money I could get credit was $5000, I demo traded with this $5000, made loses for few days and then started making profits, but when I began a live account trading, I began with just $10, and it seemed to me like I was just starting trading afresh, I eventually lost the entire $10, it took me some time before I could catch up again..

Over all, starting trading with a demo account is very good for beginners they can learn alot through it, but they should not Make the mistake of assuming they are already perfect traders because they won most trades on the demo account, real trading starts on a live account.

[blockman]

There's not that much to think of demo accounts, they're good as testing features of the exchange where you're about to trade. And it's actually good marketing honestly. Because when someone new tries it out and he's winning into his demo account, that will make him encourage to deposit and later on do the trade. But we all know that the actual trading is entirely different from the typical that we know of. That's why those that have lesser knowledge in trading and are still new are likely the ones that are losing more.

[Strongkored]

For me, the demo account is only suitable for basic learning materials from trading, for example, those who are used to trading forex will want to learn crypto trading, they can first use a demo account and vice versa because there are several differences between forex and crypto, learn how it works and the most important thing is to study the features available from the exchange so that when we start using real money, we don't experience losses due to incorrect use of the features, but starting trading with real money judging by success using a demo account is a mistake because demo and live trading are completely different.

[sana54210]

On what others mentioned then it would be pertaining about backtesting of your trading strategy then doing it on demo would be the best place to do so and not on a live one but if you do really like to feel out

that thrill on having that testing on a live account then its up to you but if you dont like on wasting up some capital or money then demo would be the sweetest place. The only issue i do see on using up demo

is that you cant really that able to enhance your emotional aspect on which just like on what been said that you cant really lose money on here which means that you would really be not minding much on what
ever actions you would be making. You do know that you cant lose money on here on which it would be normal that you would really be that not serious on taking positions.
Its up to someone though because back testing is never been that something  you could ignore, you would be testing out a particular method or strategy on various market conditions
on which you would be finding out ways on how it would turn out to be beneficial.

I do agree that backtesting is good but doing it on demo account to see how it does in the future is a lot better. Think about it, if you backtest then you learn "what it could have been if I did it" but with demo account you are doing it live action on the current market and if you are right then you are right and the strategy works.

With backtesting since the prices are set and what is done is done, I could go back and do a million different tests and find what would have worked the best, there is no dynamic changes at all, it's already set in stone. But when you are using a demo account to test a new strategy you are doing it live, and that means anything could happen and you do not know what's going to be the result, that's what matters in the end.

[Sanitough]

There's not that much to think of demo accounts, they're good as testing features of the exchange where you're about to trade. And it's actually good marketing honestly. Because when someone new tries it out and he's winning into his demo account, that will make him encourage to deposit and later on do the trade. But we all know that the actual trading is entirely different from the typical that we know of. That's why those that have lesser knowledge in trading and are still new are likely the ones that are losing more.

Demo accounts are still considered useful for beginner traders since they allow them to be more aware on how the market trading works. And they will come to see what is there with trading that they have to prepare before they experience live trading. But always know that demo trading account is just beneficial at first, since you won’t be expecting to use demo trading account the whole time. You can’t be successful in real trading if you’ll never experience live trading using live account. In the end, what you’ve learned from using demo trading account has less effect compared to letting yourself exposed to live trading with your own emotions that are mostly the biggest barrier in achieving successful trading.

[adzino]

Those demo accounts are there to simulate a trade. It helps you try different strategies and learn more about the market without having you to risk anything. Also those demo account helps you learn about the platform and how to use the different features offered by the platform. Once you get used to the platform and start feeling comfortable there, trading becomes a lot easier for that person. But yeah, since people don't actually risk any money, they "don't" actually care how they trade. They use risky strategies without thinking twice. They wouldn't be performing the same if they used actual money. And you get "real" experience once you start risking real money.

[Franctoshi]

The demo account is mainly for practicing to gain pre-knowledge about what you are going to face in the real market or used to try out new trading strategies, it is just like practicing before going to the real competition, The real experience comes from trading on a live account, So never rely on the experience you got practicing on a Demo account as you have gotten one, your experience can only be proven if you are trading profitably on a live account and that is when psychology and emotions come into play.

[Russlenat]

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.

It is not a must to try demo trading. I never use demo trading, I have no problem with trading so far. I can get the trading knowledge by reading articles or watching YT videos. I also tried directly trading in a such platform with small money, so I got experiences and won't have big risk to lose huge money. The main thing to do is to focus learning and use small money first if you are still a newbie. Anyway, for newbies, it is better to stay away from future trading. It is not a proper place for newbies.

Although I would say demo trading is quite helpful, but yes I also believe it’s not a must either. It’s still an edge if you have real experiences in the market, by incurring some mistakes and losses that will most likely teach you on how to be a good and reliable trader. Experience will always be the best teacher no matter what, so it’s not bad idea if you jump into trading experiences in a live trading rather than using demo account while you’re starting.

[DoublerHunter]

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.

It is not a must to try demo trading. I never use demo trading, I have no problem with trading so far. I can get the trading knowledge by reading articles or watching YT videos. I also tried directly trading in a such platform with small money, so I got experiences and won't have big risk to lose huge money. The main thing to do is to focus learning and use small money first if you are still a newbie. Anyway, for newbies, it is better to stay away from future trading. It is not a proper place for newbies.

Although I would say demo trading is quite helpful, but yes I also believe it’s not a must either. It’s still an edge if you have real experiences in the market, by incurring some mistakes and losses that will most likely teach you on how to be a good and reliable trader. Experience will always be the best teacher no matter what, so it’s not bad idea if you jump into trading experiences in a live trading rather than using demo account while you’re starting.

^ In general, not bad at all.
Because if you are new to trading and have zero knowledge, demo trading is quite helpful, and also as a new trader it could be a potential to gain experience and learn about it. Because I think Rral experiences in the market, even with their share of mistakes and losses, can indeed be valuable lessons that contribute to becoming a good and reliable trader. In my mind, there is nothing wrong with diving into live trading experiences from the start, rather than solely relying on a demo account. It is all about finding the technique that suits you best and enables you to learn and grow as a trader.

[milewilda]

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.

It is not a must to try demo trading. I never use demo trading, I have no problem with trading so far. I can get the trading knowledge by reading articles or watching YT videos. I also tried directly trading in a such platform with small money, so I got experiences and won't have big risk to lose huge money. The main thing to do is to focus learning and use small money first if you are still a newbie. Anyway, for newbies, it is better to stay away from future trading. It is not a proper place for newbies.

Although I would say demo trading is quite helpful, but yes I also believe it’s not a must either. It’s still an edge if you have real experiences in the market, by incurring some mistakes and losses that will most likely teach you on how to be a good and reliable trader. Experience will always be the best teacher no matter what, so it’s not bad idea if you jump into trading experiences in a live trading rather than using demo account while you’re starting.

^ In general, not bad at all.
Because if you are new to trading and have zero knowledge, demo trading is quite helpful, and also as a new trader it could be a potential to gain experience and learn about it. Because I think Rral experiences in the market, even with their share of mistakes and losses, can indeed be valuable lessons that contribute to becoming a good and reliable trader. In my mind, there is nothing wrong with diving into live trading experiences from the start, rather than solely relying on a demo account. It is all about finding the technique that suits you best and enables you to learn and grow as a trader.

Not quite helpful but indeed very helpful on making  yourself get familiarize on things not only with those terminologies and tool names or testing out strategies but also you would be able to have that kind of experience and awareness on how this market behaves or moves on which it would really be that recommendable if you do start up on having zero knowledge or complete noob, then dealing up with demo account is never that a bad idea but there are people who do really love on making direct deposits on real money accounts on which they would directly making out some decisions on trading directly on using real fund. Well, its their decision because we know that on how risky it would be on having that but they dont really mind on because they do really believe that they could really be able to learnt up things along the way
Myself did start on directly make out some real fund deposits but not really that much because i do know that im just a noob and making use of big balance does have no sense because you would most likely
be losing it all with those early trials but of course its part of the process. Minimize losses as much as you could.

[Distinctin]

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 does not make any sense if you aim to be a good and reputable trader and yet, you stay in your demo trading account for long. That will never exposed yourself to the real world of trading. So learn to take the risk by spending minimal amount in your first trades. Never mind if you end up losing, that is expected anyway for first time traders. What’s important is you are starting to gain real life trading experiences, and when you’re good enough, you will have all the chances to regain all what you have lose in the first place.

[Viscore]

There's not that much to think of demo accounts, they're good as testing features of the exchange where you're about to trade. And it's actually good marketing honestly. Because when someone new tries it out and he's winning into his demo account, that will make him encourage to deposit and later on do the trade. But we all know that the actual trading is entirely different from the typical that we know of. That's why those that have lesser knowledge in trading and are still new are likely the ones that are losing more.

Using a demo trading account gives us an edge while we are starting to trade, but we know once we enter the real trading market, everything should be learned all by yourself. And the more real experiences you gain, the more likely you will win your trades. And with this, I think demo account will not be sufficient enough. One should learn how to trade in its real scenario, otherwise you will never experience controlling your emotions at all when trading.

[borovichok]

Using a demo trading account gives us an edge while we are starting to trade, but we know once we enter the real trading market, everything should be learned all by yourself. And the more real experiences you gain, the more likely you will win your trades. And with this, I think demo account will not be sufficient enough. One should learn how to trade in its real scenario, otherwise you will never experience controlling your emotions at all when trading.

Demo doesn't actually feed us with our expectations on live accounts. That's the main deal, we faces the market with our own money and miminize the lotsize that's convenient for our trades, which will either end on profits or losses. Experience they say is the best teacher, we adapt to live trading only when we mastered how to control our emotions and balance on the market. Trading with the demo accounts grants us self confidence specifically when we triggered TP on our trading positions, but basically demo helped the newbies become more acquainted with trading systems.

[jaberwock]

Those demo accounts are there to simulate a trade. It helps you try different strategies and learn more about the market without having you to risk anything. Also those demo account helps you learn about the platform and how to use the different features offered by the platform. Once you get used to the platform and start feeling comfortable there, trading becomes a lot easier for that person. But yeah, since people don't actually risk any money, they "don't" actually care how they trade. They use risky strategies without thinking twice. They wouldn't be performing the same if they used actual money. And you get "real" experience once you start risking real money.

I think once you already learned trading. You can easily be familiarize to a new crypto trading platform even without using its demo features. TBH, I don't like to use it, and the reason why, is because I might end up making lots of money that I can never withdraw. It will only make me feel depressed knowing that I can never make that much money in a short period of time in a real trade because I was careful about taking risks.

This is why some people can say that demo trade are only a waste of time and if they want to practice, they can still do it for real but by only using small amounts. The goodness of it is they can earn something once they do really well or they get lucky.

[xSkylarx]

Using a demo trading account gives us an edge while we are starting to trade, but we know once we enter the real trading market, everything should be learned all by yourself. And the more real experiences you gain, the more likely you will win your trades. And with this, I think demo account will not be sufficient enough. One should learn how to trade in its real scenario, otherwise you will never experience controlling your emotions at all when trading.

Demo doesn't actually feed us with our expectations on live accounts. That's the main deal, we faces the market with our own money and miminize the lotsize that's convenient for our trades, which will either end on profits or losses. Experience they say is the best teacher, we adapt to live trading only when we mastered how to control our emotions and balance on the market. Trading with the demo accounts grants us self confidence specifically when we triggered TP on our trading positions, but basically demo helped the newbies become more acquainted with trading systems.

Demo is really good in backtesting your strategy, and you really have a point on the experience or how we feel when using real money, but again, this is up to the people if they want to risk, as others still don't want to risk their real money. They want to have established their strategy and wait to see if it is profitable. This is called playing safe, which they learn in this kind of method, but to others they tend to learn from experience and losses. That is why if what ever works on you, then you go for it, as we have different ways to learn.