Hi. I'm Emanuella. I've been trading stocks or many years and just decided to try forex trading. Stock markets seem to be on a roller coaster ride these days and I'm getting a bit nervous about my investments. So even tho forex seems like an easy transition I have a few questions before I actually get started. I've been told I should start with a demo account and that sounds like a great idea. Does every broker offer this? How long can I use it before moving over to a real account? How much can I invest? Thanks for your help
M
malaguti
Not every broker will offer these
you will need to check individually how long they are kept open for
and as its name suggests, Its a demo you are not investing anything other than your time
Yes. I will have to do that. I know there are some broker review services that do the comparison for me. I was told about dailyforex.com. Do you know any other ones?
Thanks
Have a look at IGIndex. They offer a good spreadbetting demo - you get access to thousands of markets, and their trading platform is good too - if not a little clunky at times.
Only down point is you only get two weeks on demo, but it's worth a shot. That's if you want to have a go at spreadbetting, of course!
Not at all. Just joined the forum, just started spreadbetting. Currently reading through all the advice for new traders forum. Not affiliated with ig at all. Just like what I've seen so far, tought it would help someone else to have a look.
The link in my thread is an auto link genereated by the forum, nothing to do with me.
So, yeah, hahaha, report away.
The link in my thread is an auto link genereated by the forum, nothing to do with me.
So, yeah, hahaha, report away.
Euroscalper
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Emanuella,
Its a great idea to use a demo account. I have used one for 8 years. Any time I need to make changes to my strategy I use a demo account. I test say 50 to 100 trades then use a real account. Probably the best thing you could do is treat the demo as a real account in your mind. Once you can make profit in the demo then move onto the real account. There is a difference with the real account and demo say when non-farm payrolls comes out the demo account tends to slow down. I found FXCM demo account to be good they last a month generally. and I have had some for 6 months with them. Generally your performance may not be as good as in a demo account. However, your aim might be to get your trading account results to match your demo account. If you cannot the gap between the two means more learning or skills needed. Hope that helps.
Its a great idea to use a demo account. I have used one for 8 years. Any time I need to make changes to my strategy I use a demo account. I test say 50 to 100 trades then use a real account. Probably the best thing you could do is treat the demo as a real account in your mind. Once you can make profit in the demo then move onto the real account. There is a difference with the real account and demo say when non-farm payrolls comes out the demo account tends to slow down. I found FXCM demo account to be good they last a month generally. and I have had some for 6 months with them. Generally your performance may not be as good as in a demo account. However, your aim might be to get your trading account results to match your demo account. If you cannot the gap between the two means more learning or skills needed. Hope that helps.
8 years? I didn't think any broker let you use a demo account for so long. or did upi open a new one each time your wanted to test something new?
What a brilliant idea, really. I never thought of doing that...
Thanks.
What a brilliant idea, really. I never thought of doing that...
Thanks.
Euroscalper
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Emanuella,
Yes constantly opened account after account. I would trade full-time in a demo account trading for weeks if I was on holiday or at night time. For my first account I put on 700 trades in the first month. then printed out the statements. would work out my win loss ratios etc., remembering my first account it was a $50,000 demo account. I was down by $17,000 in 2 weeks. Just went back to the drawing board. then I would go on to a little real account. testing out plans. If they failed I would go back to demo accounts. Did this for 4 years. Backwards and forwards between demo account and real account until I became proficient. Hope that helps.
Yes constantly opened account after account. I would trade full-time in a demo account trading for weeks if I was on holiday or at night time. For my first account I put on 700 trades in the first month. then printed out the statements. would work out my win loss ratios etc., remembering my first account it was a $50,000 demo account. I was down by $17,000 in 2 weeks. Just went back to the drawing board. then I would go on to a little real account. testing out plans. If they failed I would go back to demo accounts. Did this for 4 years. Backwards and forwards between demo account and real account until I became proficient. Hope that helps.
Euroscalper
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With one broker / market maker. I used FXCM. must have ended up with over 30 demo accounts over the years.
I can't believe FXCM allowed you to ppen so many demo accounts. Did you use different names or what?
DitterPD
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How I see this:
Hey I have 6 posts, advise me.
Hey I have 8 posts, here you go "link".
Hey I have 3 posts, "they are for real".
Old user - reporting.
Hey I have 7 posts, "report anyway you want, we are genuinely curious "link", "link" and not spamming".
End of story.
Hey I have 6 posts, advise me.
Hey I have 8 posts, here you go "link".
Hey I have 3 posts, "they are for real".
Old user - reporting.
Hey I have 7 posts, "report anyway you want, we are genuinely curious "link", "link" and not spamming".
End of story.
