Opening a Free Binary Options Demo Account
A binary options demo account is an account that can be opened for free. It is opened via a broker, and its use is to learn the basics of trading and to test different trading strategies.
In this article, we will list the main binary options brokers who offer free demo accounts to train you in trading and test their trading platforms for free.
The brokers listed below are the best and most popular binary options brokers to open a free demo account.
|Broker||Min. deposit||Minimum Trade||Bonus||Demo account||Rating||Website|
|Quotex||$10 /€||$1 /€||30%||✔||Visit Broker|
|Pocket Option||$50 /€||$1 /€||50%||✔||Visit Broker|
|IQ Option||$10 /€||$1 /€||✔||Visit Broker|
|Binarycent||$250/€||$0.1 /€||100%||✔||Visit Broker|
|Raceoption||250$ /€||$1 /€||100%||✔||Visit Broker|
|Spectre||$10 /€||$1 /€||✔||Visit Broker|
|Deriv||$5 /€||$5 /€||✔||Visit Broker|
|Binarium||$5 /€||$1 /€||$10||✔||Visit Broker|
|IQcent||$250 /€||$0.1 /€||100%||✔||Visit Broker|
|OlympTrade||$10 /€||$1 /€||✔||Visit Broker|
|Expert Option||$10 /€||$1 /€||✔||Visit Broker|
|Binomo||$10 /€||$1 /€||✔||Visit Broker|
Free Binary Options Demo Accounts allow a potential binary options trader to begin practice trading in binary options. This will give an individual a set of different trading tools and settings with no risk to their funds.
How to open a demo account ?
Step 1: Check if a broker provides demo accounts
Go to any binary options broker website listed here, preferably the one you intend to trade with. Most brokers listed in this article provide demo accounts for traders to test their trading platforms, so you should see such an option in the menu.
Step 2: Fill in the registration
Most brokers ask for your basic personal information, such as name, address, phone number, etc. Some brokers also ask for your credit card number, but you shouldn’t worry, because you won’t be charged.
Step 3: Start trading for free
Once you are done with registration, you can start trading binary options for free
To trade on a real account, you need to deposit some funds in your trading account. Most brokers accept deposits via credit card, wire transfer, or e-wallets. Some brokers even accept PayPal. Once your account is funded, you can proceed to the trading platform and start real trading.
How demo accounts work ?
A binary options demo account employs the same process as a binary options live account. It begins by selecting an asset from a full list including stocks, currencies, indices and commodities among others.
Brokerages then account the supply and demand for the asset. Both traders will receive a certain percentage of payout if the option is set in one direction or the other at the expiry limit of the individual trade.
Advantages of binary options demo accounts
A demo account should be utilized for practice at low risk. These types of accounts offer no investment amount reward but are risk-free to practice binary options trading.
Demo Accounts allow new binary options traders to test different assets and trade settings with no risk to their funds or chances of losing funds. Be sure to utilize the demo account appropriately and trade only funds one feels comfortable to lose.
How to test your trading strategy?
After registering with a broker, you can proceed to the trading platform and start trading. Most brokers provide free demo accounts, so you will be able to test your trading strategy without any risk. However, trading on a demo account is not exactly the same as trading with real money. First of all, demo accounts don’t give you the same emotions as trading with real money. So, if you are serious about trading binary options, you need to test your trading strategy on a demo account first.
When should you switch to a real account?
After testing your trading strategy on a demo account, you can switch to a real account. You can open a real account and start trading with real money. However, this doesn’t mean that you should trade on a real account right away. You need to first gain some experience on a demo account. Most brokers allow you to trade on demo accounts indefinitely, so you shouldn’t worry about time limitations. You should trade on a real account only after you have gained some experience.
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