Do you want to give Binary Options a shot without taking any risks?
Try trading on a Free Demo Account.
|This material is not intended for viewers from EEA countries. Binary options are not promoted or sold to retail EEA traders.|
What is a Binary demo account
A binary demo account is a practice account on which a trader uses fake money in order to learn how to trade. When using a binary demo account, the trader does not risk losing his own funds. He, however, also does not have a chance to generate any profit. A practice account serves merely as an indicator which shows how a trader might perform if he had traded on a real account. The demo account not only gives the trader an opportunity to try risk-free trading on the market but also the chance to test any binary strategy along with the broker’s platform. Unfortunately, the number of binary brokers that support demo accounts without an initial deposit for an unlimited amount of time is quite limited. Nevertheless, we tried to make a list of such companies.
IQ Option – unlimited demo account without a deposit (tested, trusted)
IQ Option started in 2013 as a small binary broker. Now, it has over 70 million clients from all corners of the world and it has become one of the biggest binary brokers in the industry. Its popularity gained mainly thanks to high-quality service and high payouts on binary trades. IQ Option enables trading literally to anyone, as it offers a free unlimited demo account without the need for a first deposit. IQ Option offers one of the highest payouts in the industry for binaries, but it also features on its platform trading CFDs – forex, cryptocurrencies, stock, commodities and indices. Creating a demo account is a matter of 15 seconds, and then you can start trading with $10 000 imaginary chips right away.
- Website: https://iqoption.com/en/demo/
- Minimum deposit: 10 $
- Minimum deposit in order to create a demo account: 0 $
- The period of validity of a demo account: Unlimited
- The number of virtual money: 10 000 $
When trading with real money, your capital is at risk.
Demo X Real account – The big difference
A demo account is undoubtedly a great opportunity to try trading without taking any risks. The demo version will allow you to touch the real market with your own hands. You will get the feeling that this is the place where Warren Buffett, John Paulson and so many other wealthy people shaped their successful future. A practice account is good for finding out how a broker’s platform work and what you can expect from it. But mainly it gives you the opportunity to verify your trading plans and strategies. Nevertheless, it doesn’t necessarily mean that you will make money on your real account just like you make it while trading on your demo account. Yes, the conditions are absolutely the same, what is, however, different is your perspective towards the funds you are using when trading binary options. Trading with real money is completely different and only a small group of traders is capable of the same behaviour on a demo as on a real account. I personally have a better experience with trading real funds no matter the capital size than trading with some imaginary chips. The thought that you trade with something that you do not care about can not be ever fully suppressed.