Does anyone have comments or suggestion which one could attract most for new traders? Would it be a Demo Account or Live Account?
Demo, always..esp if you are new to forex, it makes more sense to start off with the demo and move on to live after a few weeks. Sure, it is tempting to start off right away with a live account but if you lack prior experience and knowledge, always do the demo first!
Just wish the newbies can resist the lure of the big $$$ until they have some experience in trading (even play money) before investing some of their hard earned $ in a live account. Believe me, the demo is an important aspect of your training and cannot stress this enough, so stick to demo and after a few weeks and good performance, move to live account!
If you are not practicing with demo account. You will not have an idea what is the trading like. Beside that, demo helps you to learn how you can minimize the lost, prepare yourself for the real trading.
I think first demo account to test. Choose some different brokers and test them. One possibility is welcome accounts, you can later change it to areal account after testing.
Definitely you should start out with a demo account … not only to learn trading without risking hard-earned money (although that is the most important thing), but also to get used to the software.
Having real money at stake and not being familiar with your trading platform will drive your blood pressure into the red zone really quickly, hehe.
Ah well, we have all been there, trying hard to figure out how the MT4 works while watching with desperation as our $$$ makes its way down the drain..
It is a cathartic process..and for this very reason and a lot others, just go the demo and believe me, you’ll thank us later on.
And yes, it is funny that we all get to agree on this point..LOL
just like what fxpipper said, demo demo demo, practice demo, learn it then apply what you’ve learned untill you get comfy, of course treat your money like real, there is a slight difference between demo and live in terms of spreads and execution and mental state. so keep in mind that the longer you stay on demo the better, and when you go live for the first time KEEP IT SMALL, just to test the waters for the first couple of months, coz blowing an account for the first time aint fun at all