FX mirco account is better than demo account.

[dissamadu]

But Demo account is not real money and no one give free 1000 bucks ........

[ghprod]

Agree with OP, with real account even just micro account at least can hone your psychological side .. just pretend its really big balance, and manage with carefull

[CCC000]

great idea!

caution for newbies.
that way, you avoid much risk and learn to trade with little money.

NOTE: when you trade successfully with that little amount then you are ready to trade big with your proven and tested strategy.

okie very good advise but there is huge problem is that you will start feeling greedy and start opening with 1 micro lot
and maybe eventually you will loose everything if not then this is okie but demo account is very good not for beginners but also for experts maybe there is some different but in general it is the same charts and when you make money on demo you can make profit in real
but you must have huge deposit for micro i highly recommended 300$ or more
and for standard account i highly recommended 5000$ or more

[vanov]

I agree with you,. It's better if we directly try with real micro account than start with demo account... ^^

[hira]

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 .

it depends from trader to trader that what is he comfortable in, working on micro accounts is surely a better option.

[RahmanSL]

For those who are afraid to lose real money, stay on a Demo forever! Treat the Trading Platform as a gaming console.

If you are afraid to get hurt from standing up and take that first step, then remain a baby forever!

Your choice, and your money!

Risk is all around us...if we are afraid to be hit by a bus, catch a virus from other people, get mugged, etc...just stay at home!

[freaks419]

People must learn how to set up account and deposit $10, $20 and learn how to deal with emotion,etc.

i agree with you, i've been trading in demo account for about 3 months and it works well, but after i go to real trading i cannot beat my own emotion, that's why i choose to trade just using 10$ real

[puji]

it should also be true for traders who are just starting a business forex demo account is used as a way to train the ability to analyze the experience of using a strategy or system used prior to using it on real account.

[ryuken]

Micro account requires real money and demo requires none. in case of profit the chance of real money profit is limited and sometimes it is negligible. so it hardly matters which type of account you use if you're not serious.

[fastfx]

Thanks for agreeing with me.

You can organise a group of people under you, train them to set up micro accounts, show them how to trade.
(FXopen will benefit because more money will flow to them, you will benefit because you get commission for people signing up mirco account under you.)


Do you know in my country Singapore, there are forex trainers who organise training seminars, urging people to set up standard account and deposit US$1000 and above?

More people lose more because they has little knowledge of trading.

Demo account is not realistic.

People must learn how to set up account and deposit $10, $20 and learn how to deal with emotion,etc.

this is mind blowing job but convincing others for trade is time taking job although i have some friends and i will tell them to join forex open as you are mentioning HERE .

[CPA]

let's say that you won't be able to test your ability efficiently enough to trade in demo as well as to trade in micro. The market is flexible and what have been working in your strategy in demo will not necesairly be the case in micro. You must have some variable as well as market trends depend on life events ! mind the slogan of the forex : we are working to get risk reduced at best. So you can't trade without "risk". Better try your money in a real trade even if your not skilled enough. You just need basic skills and the risk is fact of the amount you invest.

[sin70]

Micro account requires real money and demo requires none. in case of profit the chance of real money profit is limited and sometimes it is negligible. so it hardly matters which type of account you use if you're not serious.

use demo account to learn then use micro account to start experience with real account

[Ryanloop]

Thanks for the great idea

I have only one question: is it possible instead of putting 10 dollars and turn it in 1000 cts, maybe put 100 dollars and convert it to 10000 cts?

Regards

[Rizal]

Thanks for the great idea

I have only one question: is it possible instead of putting 10 dollars and turn it in 1000 cts, maybe put 100 dollars and convert it to 10000 cts?

Regards

anything is possible.it is depend on your trading skill and your money management.

[badyfish101]

I have been playing with Free EA robot for 2 years, Most of them run really well in backtest but none of them really win forward test after spread and commission.

I did demo ECN manual trades recently for few weeks and learn a lot, It is very risky and non-linear market, Most of them 5 min chart, Winning range is only 10 pips, I am wondering what account fits me, I look at micro account, Its spread is 2 pips, ( total 4 pips), I don't make very much risk/reward, I want to go for ECN live, $USD5000+, I am wondering anyone have any experience? Also what Margin should I use, 1:100 or 1:500 Etc? Thanks

Another question is that, What currency they use for those accounts, USD? Or I have other choice for currency?