I think that Demo Accounts are a great way to try out new trading strategies and any beginner should use it before starting to trade with real money. It's true that there are no consequences for trading with demo accounts, but that is also a good thing, any big loss is not a real loss and we can still learn from our mistakes. We shouldn't feel bad about any profit we make that it's not real, rather be happy that our strategies are working. When it comes to demo accounts it's up to us to make it as realistic as possible. For example we can set a personal goal that we need to reach 25% profit before we start trading with real money. Or we could make a challenge with friends and see who runs the best portfolio over a month. There are a lot of possibilities with demo accounts, it's up to us to use them.