Demo trading could be very effective when you are new. Demo trading is important if you know how to use it. No matter you are new or old traders. If you are old traders you must know with a single strategy you can not make profit all the time. We need to change according to the market condition. To test your strategy demo account is the best place. You can't lose money by testing on live account. I am trading with Forex4you, a regulated broker. It provides me a wide range of services including low spreads, upto 1:1000 leverage from 1:1 and instant trade execution.