MONEY-FX / Does demo account is the waste of the time?

**Posted by sam9630** 10/04/2013 7:43 am

Being a trader when we start the forex trading we will start form the demo account but the mostly trader think that the demo trading is just waste of the time and energy and actually you learn the trading with the real experience which you get in the real tradig so what you think the demo tradig is just waste of time and secondly how much time we required to learn the trading?

**Posted by Hasan87** 10/10/2013 12:06 pm

I don't think that demo trading is just waste of time. It is very important for every newbie to trade in their demo trading. Because if you want to succeed in forex trading business you should have some experience and knowledge. And demo account is the right place for acquring thoes knowledge and experiences.

**Posted by islamnoor34** 11/14/2013 9:41 pm

Demo trading is waste of time for professionals. They should jump into real trading instead of spendig time in Demo trading. Demo trading is somehow good for beginners. What about demo competition offered by Forex firms.

Last edited by islamnoor34 (11/14/2013 9:43 pm)

**Posted by David Young** 1/02/2015 5:16 pm

It is completely wrong as demo account is really vital and without that it is not possible for anyone to be successful. I prefer using demo contest account over normal one because with OctaFX the broker that I trade with has great money prizes with their cTrader demo contest, it has up to 400 USD prize for the winner and we get so much knowledge from taking part against some of the finest traders and if we earn there is double rewards.

**Posted by Bruce Reid** 4/12/2015 7:31 pm

David Young wrote:
It is completely wrong as demo account is really vital and without that it is not possible for anyone to be successful. I prefer using demo contest account over normal one because with OctaFX the broker that I trade with has great money prizes with their cTrader demo contest, it has up to 400 USD prize for the winner and we get so much knowledge from taking part against some of the finest traders and if we earn there is double rewards.

Demo account might be waste of time for some but for me it’s a start of a wonderful journey. It’s due to only one broker and that is one which you mention OctaFX, it is really too good of a company and using such a fabulous broker means I have got advantage in everything including demo account, I am not talking about the normal demo account because that’s just for learning.

I am talking about the massive opportunity that they are providing us with their Champion demo contest, it has 500 USD first prize and anyone winning this would surely have happy next few month and one of those lucky one is me, I have been able to win this and that really helped me to have great capital for real trading but also provided me knowledge as well.

Last edited by Bruce Reid (4/12/2015 7:33 pm)

**Posted by Chris Adams** 5/13/2015 2:27 pm

Yes, it is waste of time for me because I am using perfect free welcome bonus of $200 by Nova FX broker, so after that what else do I need? I believe this is everything and I am not really required to have any demo account. I can use this free bonus as a tool for learning with great enthusiasm and also have an opportunity to earn some money, as $200 is a massive and at times life changing amount.

**Posted by Kepler Wessels** 6/12/2015 9:23 am

No, I don’t think demo account could ever be time wasting, it’s really great if we use it well because we can work without paying anything and there can be a lot of stuff that we could be learning from, but if we don’t have interest in demo account then we will never be able to learn things and we will just stop at one position in our career.

I am very lucky with having OctaFX broker as my trading company. They are seriously profitable with excellent demo account while there is also outstanding cTrader demo contest with 500 dollars prize and 150 dollars first prize, so I can easily participate on it per week and get epic rewards from it.

**Posted by David Young** 3/09/2016 3:34 pm

I think we got to take practice as the real logic behind demo account, so it is obviously not about demo but more about learning. I don’t’ need to participate on demo account anymore, it is because I can join on better place which is OctaFX broker’s demo contest like Southampton Supreme, it is super cool with having unlimited prizes as well, the best part is the duration of this contest, it is just 90 minutes yet the prize is unlimited while there are many other great contest like cTrader and Champion available, so that too is seriously good and helps us with practicing with having great motivation as well which is really what one wants when consideration of practice comes into mind.

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