Although demo accounts attempt to replicate real markets, they operate in a simulated market environment. As such, there can be differences in product availability, trading conditions and/or order execution. In addition, demo trading cannot be compared to live trading conditions where numerous factors, such as your risk tolerance, investment horizon, investment objectives, taxation issues, need for diversification, and so on, can affect trading decisions. It is impossible to take investor psychology into account, because no real money is at risk. No representation is being made that any other type of account will or is probable to achieve profits or losses similar to those displayed on this demo account.