Try trading on a free demo account.
Demo account on binary options and its advantages
Demo version has a clear purpose, allow the traders to try binary trading on a real market without the risk of losing their own funds. Practice demo account will therefore not generate you any profit, it serves only as an indicator which shows you how would you probably do with your real account. Besides the fact that you have thanks to a practice account the opportunity to try trading on a real market, you can also simultaneously test any of your binary strategies along with broker’s platform. Demo accounts are usually somehow limited either by time or number of chips. After creating a demo account, you can immediately start trading just like on a real account with the only difference that you will be trading with virtual funds.
Where to create a demo account for free
There are two types of brokers who offer free demo accounts. The first ones firstly require making an initial deposit in order to create a practise account. Usually, it is just so the broker could make sure you are serious about trading. The second ones do not require anything and you can create demo account there at any time. I personally tried out demo accounts at several brokers, but the best experience I had at 24Option, ETX Capital and IQ Option. All three of them are licenced in whole Europe and I consider them to be the 3 top binary brokers in the industry. I highly recommend choosing a broker with which you will want most likely trade in the future. That way you will easily avoid all the complications which are associated with transferring funds and getting used to a new trading platform.
24Option demo account (tested, trusted)
24Option is one of the most international brokers with good reputation out there. It is one of the first regulated binary brokers that still operates in the binary industry. It has international support in several languages (Support in 20 different countries). Traders mostly value at 24option easy to use platform, extensive free educational centre and very good fixed payouts. In order to create free demo account here, you will need to deposit at least 250$ to your real account. However, this funds can be withdrawn at any time, if you will not wish to trade with your real money (it orders CySEC regulation). 24Option only wants to make sure you are serious about trading and you really want to put afford into trading. You can ask for your demo account via telephone or email and they will create it for you. Once you have your demo account established your account manager will add you as many imaginary chips as you need. Demo version at 24Option is very flexible and it all depends on how well you arrange it with your account manager. But from my prior experience, they usually don’t tend to have any problems with setting your demo account to your specific needs whatsoever.
- Website: https://24option.com
- Minimum deposit: 250 $
- Minimum deposit in order to create demo account: 250 $
- Time period for which is valid: Flexible, depends on the agreement with your account manager
- The number of virtual money: Flexible (currency of your choosing)
- Regulated: Yes in whole Europe – CySEC, FCA license
IQ Option – no deposit unlimited demo account (tested, trusted)
IQ Option falls into the group of brokers who offer free unlimited demo account without the need of first deposit. This broker has an excellent trading platform which can serve very good not only to your trading beginnings. At IQ Option you can have both – a free unlimited demo account and a real account at the same time (which you can always switch at any time). Therefore you can use your practise account just for testing new strategies or new ideas. In order to create a free demo account here, you can just use your Facebook profile and you will be instantly logged into the system with 1000 $ imaginary chips. The only disadvantage of the broker is that the payouts may change during the day due to their ECN system.
- Website: https://iqoption.com/en
- Minimum deposit: 10 $
- Minimum deposit in order to create demo account: 0 $
- The period of validity of demo account: Unlimited
- The number of virtual money: 1 000 $
- Regulated: Yes in whole Europe – FCA and CySEC license