Forex Can Demo Trading Help You Learn Forex Trading Faster?

[moonchild]

Demo trading is known as demonstration trading, you get to learn how the market moves and all of the market moves involved and from there when you master how to trade the virtual market you can go ahead and trade the live market, the question is, does trading a demo account helps you be a better trader?

Yes, the only difference between demo trading and live trading is the money involved, but you get to learn how the market moves, risk management, how to set TP and SL etc, it's also advisable to start demo trading with an amount you plan to trade live with.

What's your experience trading a demo account as a beginner trader, does it help you in your journey?

 

[FinTrader]

I also started my acquaintance with the market through a demo account. This saved me a lot of money while I was developing my trading strategy and making it workable. And if I immediately started trading on a real account as a beginner, I would have lost a lot of money. Thus, the demo account helped me a lot in preparing for real trading.

 

[FXOchartist]

Demo accounts really help traders learn forex trading, one of the benefits of learning to trade using a demo account is that it is risk-free, the money used is only virtual money provided by the broker. Traders can use a demo account to learn trading to find the best trading strategy to test without risk.

To get maximum results using a demo account, traders must study seriously, not just buy and sell but measure the strategy's performance and effectiveness before using a live account. All brokers hold demo accounts. Even though I trade a live account on FXOpen, I still sometimes use a demo account to try different strategies.

 

[FinTrader]

Also, on a demo account you can practice trading according to the rules of risk management, learn how to calculate lots in transactions according to your deposit size. This will give you the opportunity to then trade on your real account with little risk and not unnecessarily load your deposit.