Demo accounts can be a powerful tool for new and experienced traders alike. These practice accounts provide access to binary options broker platforms, with many allowing traders to carry out no-risk fictional trades. The benefit of this would be two-fold, with the trader learning how to trade and the outcome of fictional trades showing the broker just how successful he or she would be had actual money been invested.
Demo accounts come in two forms. The most common would be the basic free account which allows binary options traders to examine the platform, take advantage of educational materials, and understand more about what the broker actually has to offer. These basic accounts do not allow for fictional, or simulated trading. The second type of demo account will provide the same benefits of access to tools and materials, but will also provide the option to participate in simulated trading.
Most consider binary options demo accounts that provide simulated trading the better option. However, anytime a broker provides plenty of tools there will be value in taking the time to create a free account in order to access these materials. Binary options trading is similar to many other activities in that the more you know, the more success you will experience. Avoiding a broker simply because they do not provide simulated trading could prove to be a mistake, so be careful when forming opinions based on the availability of a demo account alone.
The following are just a few of the binary options brokers which are considered to be reliable choices and offer some form of free or demo account to traders who wish to explore the trading platform they provide, as well as to learn how to trade binary options. Each of these binary options brokers provide tools and educational materials in some form. There are no limits as to how many brokers a trader can create an account with. Feel free to select one or more of the following brokers.
24Option Demo Account
Well-respected broker, 24Option does provide a demo account that allows for simulated trading for traders that deposit. they also provide an impressive amount of trading tools including hours of videos, platform demonstration, and a free eCourse. Even if the decision is ultimately to not partner with 24Option, it would be worth creating a free account in order to access the in-depth videos. This videos do provide much more than basic information, and therefore will be valuable to experienced traders as well.
24Option free accounts also provide access to a free bi-weekly eCourse and a webinar that takes place twice each week. An interactive eBook takes education one step further and in many ways is similar to simulated trading. For all they offer, binary options broker 24Option should be considered worthy of taking the time to create a free account.
24Option Review - Visit 24Option
iOption Demo Account
iOption is yet another binary options broker that does not provide simulated trading. The reasoning behind the decision to not offer fictional trading is that it could be used to quickly form bad trading habits due to the fact that no real money is being invested. This certainly could be a problem, but since demo accounts tend to only be available for a period of days, this is generally not a long enough time to form bad habits.
iOption does offer three levels of e-guides, as well as other educational tools. Free account registration will allow binary options traders to access these. Though iOption does not offer much in the way of demo accounts, they do offer a likeable platform that is used by many. Completing the free registration will provide access to this platform.
iOption Review - Visit iOption
OptionFair Demo Account
OptionFair offers the demo account in the full form, providing a trade simulator that can be used to experience “live” trading. The simulator allows different trade types to be experimented with, which will certainly be a benefit to new traders. Basic high/low, touch, and boundary trades are all included. Simulated trading is at its best when all of these trade types are included.
Educational tools and materials are also offered, making OptionFair one of the best choices for those seeking a true demo account with full functionality. Free registration will provide traders with access to their binary options webinar, binary options trading e-book, and more.
OptionFair Review - Visit OptionFair
AnyOption Demo Account
The AnyOption demo account is different in that it does not set binary options traders loose to learn how to trade on their own. Instead, AnyOption offers an interactive demo which will walk traders through each step of the trading process. These steps are not limited to just the basics of trading, but also include how to make use of the charts and graphs provided when deciding on an investment.
Though this interactive trading experience is not exactly the same as a trade simulator, it does offer plenty of benefits. Note that there is a free practice mode that will allow the trader to step outside of the interactive trading experience and experiment with trading. Consider AnyOption a solid choice when seeking a beneficial demo account.
AnyOption Review - Visit AnyOption
StartOptions Demo Account
StartOptions does provide simulated trading, and does so in a unique manner. Instead of providing binary options traders with pre-set trading scenarios, StartOptions allows traders to complete trades within their platform based on real-time data. This is the best possible scenario for those who truly want to experience live trading without the need to make any actual investment. Different trade types and strategies can be put to the test using this form of simulated binary options trading.
StartOptions does provided additional educational material including a trading guide, how to trade video, learning section, and more. This broker is also one of the few to maintain a binary options blog that provides plenty of in-depth information. These, combined with live demo trade make StartOptions an excellent choice for demo account creation.
OptionBit Demo Account
This is yet another broker that provides demo account simulated trading within the actual live platform environment. OptionBit also provides an eCourse and tutorial to those who have never traded binary options before. Though the simulated trading and “Trade Room” are separate, once a deposit has been made and the move to actual investing is made, traders will find the exact same setup that they experienced when using the demo account.
A binary trading ebook is offered free of charge, as are the eCourse and tutorial provided by this broker. Those who already know how to trade will benefit from the quick start guide which explains how to trade within the OptionBit platform in just a matter of minutes. OptionBit offers plenty to new and experienced traders alike, making their demo account one of the best.
OptionBit Review - Visit OptionBit
Banc De Binary Demo Account
Banc De Binary offers a demo account complete with $50,000 worth of trade funds that can be used to simulate trades. To access this account, a standard account must first be created and a $250 deposit submitted. Though this differs from the standard “free” demo account, those who are serious about getting into binary options trading should not mind completing these steps prior to demo trading within the Banc De Binary live platform.
Banc De Binary Review – Visit Banc De Binary
TradeRush Demo Account
Binary options broker, TradeRush does not offer a standard demo account with simulated trading. It does, however, offer a trading demo video that can be viewed without the need for creating an account. Those who do complete the free registration will receive a binary options trading e-book and be granted access to plenty of trading tools.
TradeRush Review – Visit TradeRush
GlobalOption Demo Account
GlobalOption is yet another broker that does not provide simulated trading, but does provide plenty of tools to those who create a free account. This broker provides a full learning center and will soon be offering live webinars. Registration provide the trader will full access to the platform. While this is not the same as being able to simulate trades, it does allow for a closer examination of what features GlobalOption provides.
GlobalOption Review – Visit GlobalOption
EZTrader Demo Account
EZTrader is considered to be a reliable broker that is well-known for providing a plethora of educational tools to traders. Though they do not offer a demo account complete with simulated trades, they certainly make up for this by offering video guides, a trading e-book, and a “Learn and Earn” binary options academy. These features are well worth spending the few moments required to open a free account. Of all the brokers offering trade and education tools, EZTrader ranks as one of the best.
EzTrader Review – Visit EzTrader
EmpireOption Demo Account
EmpireOption offers a demo video, but no designated demo accounts. This broker does not currently offer an extensive education center, but does offer new traders information on how to start trading. What may be the most valuable offering from EmpireOption would be the informational e-book they offer to those who create a basic free account. This e-book is quite informative and should prove valuable to all traders.
EmpireOption Review – Visit EmpireOption
Cedar Finance Demo Account
Cedar Finance is a broker that could use some improvement in the areas of demo account and trading tools. No simulated trading is provided and neither is an extensive learning center. Despite this, it is hard to not consider opening an account with the broker, as they excel in all other areas. Their profit percentages and platform are each impressive. Though you may need to look elsewhere for demo accounts, do consider partnering with Cedar Finance when it becomes time to trade live.
Cedar Finance Review – Visit Cedar Finance
TraderXP Demo Account
There is plenty to like about TraderXP, aside from the fact that they do not offer a simulated trading demo account. Their guided platform tour, live binary options trading course, e-book and demo video make them a broker who is prepared to truly assist new trades. Some of the features offered require no account registration, while others do. Creating an account with TraderXP requires only a few minutes of time and does not require the sharing of any financial information.
TraderXP Review – Visit TraderXP
IkkoTrader Demo Account
IkkoTrader does not provide designated demo accounts. However, they do offer one feature that other brokers do not. This would be their very own toolbar which can be downloaded at no cost. This toolbar has the capability of delivering binary options trading news and announcements instantly. IkkoTrader does not provide many learning tools, but does provide traders with the opportunity to speak directly with financial analysts. This alone renders this broker a top choice for creating a free account.
Ikko Trader Review – Visit IkkoTrader
WinOptions Demo Account
WinOptions replaces simulated trading with a downloadable e-book, entensive FAQ section, and “How To Trade” section on their website. Advanced trading tools are also made available, but in order to access these the account registration process must be completed. Keep WinOptions in mind when it comes time to trade live, as they do offer basic payout percentages as high as 88% and high yield payout percentages as high as 550%. This is serious profit potential that should not be ignored.
WinOptions Review – Visit WinOptions
XPMarkets Demo Account
This broker is another that offers traders the opportunity to speak with financial analysts that are willing to provide guidance to new and experienced binary options trader alike. Though they do not offer a demo account platform, they do offer a free e-book and the ability to “Ask An Expert” via live chat. To access the e-book, simply complete the free registration. No registration is required to make use of the XPMarkets live chat function.
XpMarkets Review – Visit XpMarkets
TradeSmarter Demo Account
TradeSmarter is one of the more popular brokers due to the fact that they offer high payout percentages and more than one platform view. This broker does not provide simulated trading, but does provide training on how to use the platforms provided. A trading video and access to live help via onsite chat functionality are provided. The “Learn More” section of the TradeSmarter website provides plenty of important information to those who are new to binary options trading.
TradeSmarter Review – Visit TradeSmarter
Binary Options Demo Account Tips
What is most important to remember when creating a free account or demo account is that full advantage is taken of the tools which are being provided. In many cases, demo accounts that provide simulated trading are only made available for a period of a few days. After this time period has passed, a decision will need to be made in regard to whether or not to deposit funds and begin live trading. If the demo account has not been used, this decision can be a difficult one.
There are no limits to the number of brokers that a free or demo account can be created with. However, for the new binary options trader, focusing on no more than two at a time will be beneficial. Creating more accounts simultaneously can cause unnecessary confusion. Once the tools of one or two brokers have been fully examined, it will then be safe to move on to examining other brokers.
Note that binary options scams can be brought to light through the use of demo accounts. Though scams have become quite rare within the binary options industry thanks to online information spreading so quickly, there does remain the potential of cheating. Simulate trading provides insight into the live financial data feed, as well as how quickly a profit or loss is registered at the end of the expiry time. Binary options scams are not always easy to detect. However, demo accounts can be used to spot red flags.
Demo accounts and free accounts will remain an integral part of the binary options trading world well into the future. These accounts provide benefits to both the trader and the broker who desires your business. Since these accounts come with no financial risk, there is simply no reason not to take advantage of all the benefits they provide.