FX mirco account is better than demo account.

[FXOjafar]

please i want to be enlighten on this issue about the funds available in my account, it is showing me in my fxopen trader live platform that i have $5,531 but when i wanted to transfer the funds it is showing me that the available fund is 55.31(micro) is it that i am having $55.31 dollar not the $5,531 and which means the money in the account is not real or what? please help me explain this because am really confused.

Yes, what you see is correct. The micro account balance is designated in cents. So $1 looks like $100. You have 5531c or $55.31 on your account if you were to withdraw it.

[bruce_mcc48]

If you can take 30.00 and turn it into 3000.00 to 5000.00 then you are ready to trade standard and turn 3000.00 into 30000.00 then sky is the limit for it takes much self control to not over due it and loss it !

[MorePips]

If you are true newbie like me You'd better to start on demo account. It's my opinion!

[MisterAudio]

I think I may be able to shed some light on this subject. Both are good. Demo and Micro account. All depends on how you think on which is more beneficial. Main thing is that regardless of which you choose, you must set a goal to attain.

In demo account, goal should be to develop a strategy that is consistently going positive and capable of absorbing the losses before going live. In a micro account, the goal should be use the money in your account to fund a standard account to go live with. Meaning...start with $10 and build account until you attain at least $1000, then use that money to open a standard. If you blow out the micro, then you must start again with no more than $10, and you must not allow yourself to deposit more.

Either of these methods is a rock solid method to ensure that you have a good reliable system that you can trade with confidence....as long as you assume that the first trades you make with the big account will be all losing trades...hehehe.

[cafedeart]

fxopen Micro is the best, i love to trade live in Fxopen Micro, i got instant exit even in news time volatile market, without slippage. i got the exact pip and it doesn't re-quote even in fundamental news release.

&, Merry Christmas To Mr.RebateFx.com, Mr.Fxopen Manager, Mr.NoNamer, Mr.RahmanSL, Mr.ilearn2t
& To all Fxopen Office Personnel/s & To All fxOpen Clients

[RahmanSL]

Thank you and a Very Merry Christmas and Happy & Prosperous New Year to you cafedeart! : )

Back to the subject of: TO Demo or NOT to Demo or To Micro or NOT to Micro; that's the question!

Everybody got their own opinion and everybody are correct too!

As for starting with minimum capital of usd3k LIVE account in order to make a living from trading forex, that would be true if that person (who should have at least 1.6years experience in forex) intend to make a living from trading forex.

But...hehehe...I think the vast majority of Newbies are just "testing the water" to see if they really can make money trading forex, and most of them don't have usd3k to begin with. So, to get a taste of trading LIVE account, a micro account would most certainly be recommended as it suit them best.

I still advocate that Demo should be for familiarization and to get to know the different functions of the Broker's trading platform..plus to test out or to develop one's trading strategies. After Demo trading for sometime, it becomes difficult to pretend that virtual money in Demo account are REAL since our brain cannot be fooled that easily. This results in careless and reckless trades which can become a bad and difficult habit when trading LIVE account.

So, my recommendation for Newbie is for LIVE Micro account, starting capital usd10 - usd2,000 set at 1:500 Leverage.
In fact, if your broker is FxOpen, I would recommend Micro in place of Standard Account as you can close out minimum trade size of 0.1 since they have smaller monetary value (i.e cents instead of dollar)

[MorePips]

Those who plan to set up account,

I recommend that you set up mirco account rather than demo account.

You can put $10 , this convert to 1000 cts.

You can pretend you have 1000 dollars ,and learn how to trade, which strategy is better.

If you can make 5000 cts from this, then your strategy is good .

and set up standard account and put $1000 , and trade using own method.

Better than demo account .

After a while I understood what a brilliant idea is that! There is no feeling of money on demo account, so you act like you will never act on a live account. Draw downs don't touch you!

[maryoojt]

Its awesome to b here and following the instruction , I was just starting the demo version to learn and practical but the idea of using a micro account sounds well and I appreciate the post.

[emawilson]

demo account is not bad by this we can have basic knowledge about forex as games or software we use trial version and if we find it good then move to full

[microsuck360]

hi guys,
1st of all english is not main lang here...so pls forgive my grammer..anyway im new here just open micro acc (1:500)..just wondering what does volume 0.10 means..is it 1 pip = 1 cent? or 10 cents? thank you

[FXOjafar]

hi guys,
1st of all english is not main lang here...so pls forgive my grammer..anyway im new here just open micro acc (1:500)..just wondering what does volume 0.10 means..is it 1 pip = 1 cent? or 10 cents? thank you

Hi

0.1 lots in micro is equal to 1c per pip.

[microsuck360]

Hi

0.1 lots in micro is equal to 1c per pip.

oh okay thanks

[lxc]

Microaccount is good choice for newbies to practice trade technique and strategy. Now i am doing like this. Wish I could graduate from beginner phase ASAP.

[Paul75]

Your idea is good but I think, newbie should start with demo account. It helps them to understand the basic of trading as well as increase confidence to trade with real money.

[widhie75]

Demo account is important as live account (micro or standard),, both have same market movement and same result... The advantage in demo account is we can test how good & how consistent our trading skill, if we had bad result in demo account then it sure will have same result when we trading in live account.

The advantage of micro,,, we can feel the psychology of trade, we can feel happy when profit and also sad when loss, and also we can feel the thrill that we didn't found in demo account.

but offcouse, as newbie in forex,, only invest some money that we can afford to loose... consider the deposit as a money for fun.