Demo accounts and contests are both valuable tools for learning and improving forex trading skills. Demo accounts allow traders to practice and test strategies in a risk-free environment, while contests offer the opportunity to compete with other traders and potentially win prizes. However, it's important to recognize that the psychology of trading with real money differs significantly from demo or contest trading. As such, it's recommended to transition to live trading with a small account once proficiency has been demonstrated on a demo account or in a contest. Ultimately, both demo accounts and contests can be useful for building skills and confidence in the forex trading business.