I have had two replica watches in the past. One was a $20 Rolex purchased on the street in Toronto. It was obviously a fake, but at a glance on the wrist could pass as real. It lasted less than a year before it started to fall apart (the bezel fell off) and then quit working.
My wife purchased a $100 fake Rolex for me in Hong Kong. It was a very realistic copy, but still wouldn't pass the sniff test if you actually held it (it was too light, and the second hand movement wasn't right). It lasted about a year and a half before it stopped working.
Now I have a real Rolex, and the difference is quite noticeable, and I've worn it every day for over 5 years and it still works and looks great.
My advice, wait until you can afford the real thing. For now, purchase a good $200 watch.