Demo accounts are a great way to practice and familiarize yourself with forex trading. They provide you with a simulated trading environment where you can practice different trading strategies and develop confidence in your trading abilities. Contests, on the other hand, are competitions that allow you to compete with other traders and potentially win prizes. It can be a great way to test your skills against other traders and get a feel for the real-world trading environment. Ultimately, the choice between demo accounts and contests in forex trading will depend on your goals and experience level. If you are just starting out, then a demo account is a great way to get your feet wet and gain experience before taking on the real thing. If you have some experience and confidence in your trading abilities, then contests can be a great way to test yourself and potentially win prizes.