Demo trading accounts are a great way to practice making binary options trades, and also a real benefit when learning how a new trading platform operates. For all traders, whether new or experienced, the opportunity to trade using a brokers demo account should be taken advantage of before parting with any real money on the markets. Several brokers provide these accounts, and enable real-time, live trades to be executed and monitored in exactly the same way as the real money accounts would. In addition, some brokers allow traders to access a wide range of assets within the demo account to ensure that traders can get a wide range of experience before making their first deposit and trade.
Free online binary options demo accounts
Some brokers, such as Opteck, provide a web-based demo programme which requires no registration and binary options can be traded directly from its homepage. The benefits of this for those that have no idea about how to trade binary options are positive as it typically offers one live market example for traders to simulate purchasing 30 second options. This means that, one executed, traders can experience very rapidly the profit and loss of each trade. Although this is very basic, it is a useful and fun introduction to how to execute a typical trade online and provides some vital experience to those interested in binary options but unsure whether they are willing to take the plunge to register and fund a real account.
Benefits of trading with a demo account
Binary options is one of the fastest growing ways to trade the financial markets and is constantly innovating to provide more opportunities for traders to make large profits. For this reason alone, having access to a free demo binary options trading account is one of the best ways to learn how to trade binary options. These demo accounts usually provide traders with up to $50,000 in trading capital which can be traded freely and without fear of incurring any actual losses. The figure may seem unrealistic to some traders, but the benefits of this are that traders can really practice and experiment with their trades much more than if they were trading with their own money.
For those traders who want to test out a new binary options trading strategy, the use of a demo trading account is the perfect way to find out if this is going to be profitable. Whilst paper trading can show us if a trading strategy is good or bad, being able to access and trade the real time markets is an extremely helpful tool before using the strategy to trade real funds.
Popular brokers offering binary options trading demo accounts
Several of the largest and most respected binary options brokers offer their clients the opportunity to access the full range of their markets using a replica demo trading account. Given their size and popularity, these demo accounts are designed for those who are looking to begin trading binary options but want to gain some experience of both how the platform operates and how to trade binary options before taking live trades. The leading binary options broker providing this form of demo account is Banc de Binary, who have won several awards for innovation and the design of their trading platform.
Activing a demo account with Banc de Binary requires that new members register for a trading account and also meet the minimum deposit value of $250 in order to be in a position to actively trade real binary options. Following this, each new member is assigned a personal account manager who can then be contacted to request a demo trading account. For new and experienced traders, this can be an incredibly valuable experience, with access to the full range of 100+ assets and the different binary options offered by Banc de Binary. As a fully-regulated binary options broker, traders can also rest assured that their initial deposit can be withdrawn if they are unwilling to trade using live funds and the opening of the demo account does not provide any obligation to continue trading with Banc de Binary.