Whatever be the disadvantages but it is true that a Demo Account is the best way for a Forex trader to learn the nuances of trading. It gives you an artificial environment and artificial money to trade like a professional trader. You may not be a trader and have no skills or knowledge about trading but with Demo Account you can become a pro-trader!
I'll advice a little bit of demo trading for serious practice. Once the trader is familiar with the platform and the driving force of the market, he can move to live account. To achieve a risk free live practice, a trader should start with only a small amount of $100 and trade only minimum of 0.01 lot size. I think Forexchief allows that lowest lot size trade and will give a new trader another $100 free to make the balance margin to be $200. Then the trader can also use u to 1:1000 leverage to boost trading power. The goal is to practice and learn, not to make quick riches. Remember that.
The key is to understand how it really works and who is right to work with. I was losing funds to a broker and by the time i realised it, i had already lost $52000 which was over half of my savings. I met a friendly trader and she directed me to the recovery agent Mr Bart Kasch. He helped me recover all my money, every penny. Referred him to friends and colleagues already, you can contact him if you need help at [email protected]
