Demo accounts

Demo accounts are an excellent way for investors who do not have binary options trading to learn the processes involved, to practice a particular trade or experiment with a trading strategy – without having to use their own risk investment funds. It is therefore an ideal starting point for anyone embarking on a binary options journey.

Some brokers offer demo accounts as part of a training package to new traders. In addition to access to videos, webinars and even one to one training, brokers will also give traders access to a demo account. These training packages are normally only offered once an account has been opened and funded (a real money deposit made). Opening only a demo account without funding a money account may result in the full training program not being made available. That’s not to say that a demo account isn’t worth it though.

 

How to find the best demo account

Our comparison tables provide a quick way to compare the services of some of the leading binary options brokers online, but there is a way to take an even closer look – open a demo trading account. Each broker offers slightly different interfaces and tools. Trying it out before committing money to an account is the best possible form of comparison. All the demo accounts listed here are no deposit demo accounts.

The subtle market differences, expiration times and minimum trading levels mean that what works well for one investor may not be ideal for another. In binary options trading, things can change quickly, so a fast, easy-to-understand trading portal is important. However, the best layout can be an opinion. So experiment so that potential customers can find the best trading platform for them.

Test binary trading strategies with demo funds

Trading strategies are a key element of binary options investing. However, finding the right strategy is not easy. Even a working strategy can decline profitably over time. While testing new methods or adjusting existing processes, this is a demo account. By taking a series of trades where no money is on the line, an investor can see what works and what doesn’t.

Running a demo trading account alongside an easy money option account is an ideal way for those looking for a profitable strategy to do so while minimizing risks.

Find your right trade size

Demo trading accounts also allow investors to find the right investment level for them personally. There are a variety of strategies or advisors that advocate investing a certain percentage of the total fund for each trade. Some investors are keen to invest more in some trades and withdraw from others. With a demo trading account it is easier to see how much an account needs to be funded to handle the strategy available. It also means being simpler to match a trading level.

Specialize in specific assets

Taking the time to trade for a while via a demo binary options account can highlight strengths and weaknesses. Focusing on the strengths – trading histories that demonstrate success can lead to long-term specializations. Certain asset classes may be more suitable for the type of time frame that a particular trader likes to use. Similarly, some personal insight into an asset can lead to much more successful trading. Identifying these trends before you fund an account can save you a lot of money that could be better invested elsewhere.

Build experience

Ultimately, a demo trading account will allow investors to learn without costing them anything. Build experience and confidence without losing money. These lessons are probably much the same that other traders have had to learn the hard way – by losing money. New investors in particular would do well to progress from novice to experienced trader as cheaply as possible. This is what makes the binary options demo trading accounts such an invaluable tool. Unfortunately, not all brokers offer demo accounts and the list is shrinking. We’ve listed the ones that do, so take advantage while you can.

No deposit accounts

Brokers usually do not require a deposit to open a demo account. They have enough confidence in their brands that potential new customers can try their trading platform without making a deposit.

All the binary options demo accounts listed on these pages are no deposit demo accounts.

No login accounts

All brokers will require some form of login before new traders can open a demo account. They need to get an email address – and verify it – as a bare minimum, but the benefits of using demo accounts far outweigh the hassle of signing up.

At the moment, Ayrex offers access to a demo account without login. This allows traders to view and use the platform, but any results or history will be lost once the user leaves.