Opening up a binary options demo account through a trusted broker is the best way that anyone who lacks the knowledge of trading can use to learn more about binary options platform. If you are deliberating about risking your money to try your luck in binary trading, you should start with opening a free demo trading account for starters.
Demo accounts have been put in place to help individuals able to learn the following functionalities:
- Gives them a platform to either broaden or expand their account functionality
- Start wider/broader account
- Learn how and when to use delayed starter options account
- To become successful
- To turn in profit
- Master the art of trading online
If you become happy with the progress you make using a demo account and you gain the confidence of trading, it’s important that you partner with trading companies that allowed you to exercise your trading prowess through their free binary options demo account. Let us go through a few more details that you need to keep in check as you look for the best companies.
Demo accounts offer resources that are workable for both the novice and expert trader. Binary options demo account offers you training which in return gives you accessibility to broker platforms that you are able to undertake non-risk trades. With these accounts, you have the opportunity of learning how to make use of analysis tools and platform features.
Types of Demo Account
There are two kinds of demo accounts. The most popular account is the standard free account which allows you to access a variety of trading platforms, broker features and educational materials. However, you should know that standard free accounts do not encourage simulated trading.
It is to your advantage if you invest in a demo account which will grant you similar educational materials offered by free account, however, an account that gives you the option of taking part in simulated binary options trading.
Fortunately for you there are a number of brokers who offer demo accounts that come with the option of taking part in simulated trading. These are the types of brokers that are considered to be highly reputable and you should look forward to working with such brokers.
Banc De Binary Demo Account
The company is based in Limassol, Cyprus and comes with many great features such as a huge selection of assets to trade and plenty of educational resources. Through the platform, you can trade the traditional call and put options. The broker also provides one touch and 60 seconds binary options demo account which is included in the free practice account.
The brokerage firm provides professional and easy to use demo account that holds $50,000 in trading funds. These are the funds that you shall be able to trade while practicing with the demo account. However, before you establish a conventional account, you will be requested to make a $250 deposit and automatically gain access to the Banc De Binary demo account. In addition to the demo account, the company also comes with a Binary META feature that allows you to see the accurate price charts of the asset before you execute a trade. The chart helps you in reducing the chance of making losses.
Banc De Binary provides you daily market analysis, trading signals, video tutorials & expert advice to help you succeed in trading. Apart from these, you can also claim Banc De Binary 100% new trader’s bonus.
24option Demo Account
This is yet another binary options demo account that provides you with trading simulators that you will make use of and experience real trading. This type of simulator will provide you with trade types that you will test using the tools and resources provided. 24option is authorized and regulated by the Cyprus Security Exchange Commission (CySEC).
The company has a tech financial trading platform and a real time quote monitoring system that assures you that you receive the real market prices. To help you in getting the skills that you need the company has a demo account that you can easily be opened by making a deposit of 250 pounds. There are many ways in which you can make the deposit. For example, you can make the deposit using Sofort, AstroPay, Skrill and Webmoney.
After creating the account, you will be able to access all the features on the trading platform. For example, you will be able to trade from $24-$50,000. You will also be able to access the 24/7 customer service support.
The company has also mobile App that allows you to trade on your mobile phone. The cool thing is that when using the App you get the same experience as when using the desktop version. With 24option trading platform, you will be provided with trading tutorials, tools and webinars that you will rely on and enhance your learning curve.
To get to know 24option trading platform you can claim your risk free 24option demo account after opening a free trading account.
Anyoption Demo Account
Anyoption is a global binary options trading organization that was established in 2008. The company is licensed by Cyprus Securities and Exchange Commission (CySEC) having license no. 187/12.
Anyoption provides you with a unique trading platform that allows you to trade over 100 assets. The platform comes with different languages thus ensuring that you understand the content on the site regardless of your location. The languages on the site are: Danish, Greek, Finnish, Japanese, Norwegian, Swedish, Portuguese, Malay, and Indonesian.
The company also provides you with a demo account that you open after making an initial deposit of 200 pounds. To allow you to trade on the go the company has a mobile app that you can download into your Android or iTunes phone. The app comes with all the features on the desktop version. Some of these features include: improved security, professional trading graphs, simplified login, and withdrawal within 24 hours.
The platform also comes with a signal service that uses technical analysis and provides you with trading signals that guide you in making the right trading decision.
Topoption Demo Account
TopOption is owned by Safecap Investment Ltd and regulated by CySEC. The platform comes with a number of great features. For example, the platform is web-based; therefore, you don’t need to download the platform—you only need to create an account and start trading.
The platform also comes with live expert support regardless of the time or night that you contact the support team. The cool thing is that the account manager provides you with expert professional support in multiple languages; therefore, regardless of your location you will definitely get the professional help that you deserve.
The company also provides you with a wide range of trading assets. The assets are usually 180 and they include stocks, indices, currencies and commodities. To provide you with all the information you need the company provides you with a comprehensive resource center that has detailed videos, webinars, and e-books.
These are demo accounts that have simulated trading in a real trading platform. You will be provided with e-Courses as well as basic training if you have never traded in binary options before. After the training, you will be offered trading tutorials as well as a trading platform that is similar to the demo account.
How to Choose a Binary Options Demo Account
When choosing a binary options demo account, first of all, it is particularly important that an investor must have a very clear set of preferences in his mind. Nowadays, there are a plenty of platforms available in market and among them some are absolutely free. But as it is the matter of your business and your career, you should always choose only that binary options broker which suits your unique needs and helps you do your binary options trading in the long run. When choosing the company to work with it’s good to consider a number of factors such as the amount of money that you need to make the initial deposit, features of the account, number of trading assets and any other feature that will be of benefit to you. The following things must be taken into account while selecting the best binary options demo account.
Binary Options Demo Account Should Not Be Taken For Granted
Binary options demo trading should not be considered different from real trading as it is going to provide you a beginning in the profitable binary options trading. You should put the fact into your head that if you are successful on the binary options demo trading account, you will surely make good profits from real binary options trading. While choosing a demo account, you will have to look for all those features and benefits that you search out in live trading. And if you are a novice trader you should at first find out what are the vital factors and characteristics followed by the highly effective traders to identify the right binary options trading demo account.
Binary Options Trading Platform
Like any other trade, trading platform is the most important factor to find out which trading platform the particular broker using. There are some popular binary options platforms which are used by most of the binary options brands. Some of them illustrated as follows:
- Spot Options- It is used by Banc De Binary among many binary options broker.
- Tech Financials- The trading platform used by 24options
- TopOptions promoted by markets.com
Make sure that your preferred demo account is suitable for testing different strategies before entering into the real world of trading. No matter you are an inexperience trader or veteran, a trading platform must be equally feasible in both cases. The better the binary options demo account is, the more assets will be available for traders with a large number of trading products and tools such as Traders Choice, Stock Pair or History Charts. Some trading platforms function online and some need to be downloaded. And most importantly a platform should support smart phones like iPhone so that you can easily track your trades from all the locations.
Placing Orders in Binary Option Trading
It would be worthy for you if you are able to place up to 20 demo trades on the chosen platform prior to start live trading. It will enable you to gain the full knowledge about the functionality of order entry on the platform. Moreover, you should not trade live until you can answer the following questions. But you should also be able to answer the same questions before starting trading on the demo account for it will define your potential in the binary options market.
- How to place an order?
- How to set a stop?
- How to set a limit and stop at entry time?
- Are the spreads on the chosen demo account variable or fixed?
- What’s the size of lot?
- What options are available in case of your internet connection is failed?
Binary Options Demo Account Benefits
Even if you have entered into the world of real trading, a good demo account still remains a valuable thing because it will continue to provide you the opportunities to test your trading strategies prior to investing your real money in any trade. Nonetheless, it would never guarantee you real gains, but almost all the highly successful traders agree that if a trader is unable to achieve success on a demo account, there are no chances of success on the live account. That’s why success in binary options demo account is essential for the development and growth in binary options market.
Before you jump into the binary options trading, it is wise to make use of binary options demo account that will introduce you into trading without taking any risks. Always take advantage of the techniques (learning) provided for you and you will have a great time trading binary options!