Binary Demo Account Binary Options 2020

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    1st Place! Best Binary Broker 2020!
    Best Choice for Beginners — Free Education + Free Demo Acc!
    Sign-up and Get Big Bonus:

  • Binomo
    Binomo

    2nd place! Good choice!

Contents

Demo Accounts

Here we list and compare the best binary options demo accounts with no deposit requirements 2020, and look at whether a free demo account really is ‘free’ and even where you can get a trial account with no sign up at all.

For traders, a free demo account makes a lot of sense. You get to try the trading platform, or a mobile demo app, at no financial risk. Brokers should also be proud to show off their platform and customer service, so traders should be able to use a demo account without deposit and with a simple sign up process.

Brokers with Demo Accounts

Nadex Exchange $250 100% » Visit RaceOption $250 90% 100% Deposit match bonus » Visit

A Guide To Demo Accounts

‘Try before you buy’ is a concept we’re all familiar with – both on and offline. When it comes to trading sites, this concept takes the form of the demo account; something that’s a feature of virtually all online binary options brokers you’ll come across. From the broker’s point of view, this is their chance to ‘wow’ you with their platform and its multitude of features. It’s where they hope to earn your trust – or at the very least, to get hold of your email address. Likewise, as a prospective binary options trader, the demo account gives you the opportunity to put the platform to the test. Does it work? Can you make sense of it? Does it feel right? These are the questions you need answers to before you hand over your cash. Here, we take a close look at binary options demo accounts; how they can help you and what to look for as you decide whether to move on from the demo to the real deal…

Getting Started

Head on over to a broker’s website and the “Try it now” button (or something very similar) will feature prominently. The way most demos work is simple; the broker gives you a set amount of virtual money to play with ($1,000 is a popular figure). You then use this “money” to explore the platform; placing as many or as few trades as you wish. Losses and gains are credited to this virtual, dummy balance. So is it always safe to sign up? At the very least, the process tends to involve submitting your email address and specifying a user name. (That said Ayrex offer a ‘no sign up’ demo account)

Download on Mobile Devices

If you intend to use the demo account app on a mobile device, it also usually involves downloading the company’s app. Bearing in mind that it’s never a good idea to hand over personal information blindly – or download software from an unknown party, it’s advisable to do your homework first. What can you glean from independent reviews of the site? Where is it based? What do actual users have to say about it? Even though it’s just a demo, it’s still important to know that you’re in safe hands. Be especially wary if the demo sign-up process takes the form of a data-mining exercise – i.e. if you are encouraged to provide large quantities of personal information. There really should be no need to provide bank account details at this stage; if the platform is requesting this and you are (rightly) uncomfortable with it, there are plenty of other platforms out there that don’t require this information – so consider looking elsewhere.

How To Use A Demo Account

At heart, binary options demo accounts provide the chance to test-drive the platform. So here are the areas to focus on as you put the platform through its paces…

Compare trading platforms without deposits

What you are looking for is a “full-fat” experience of this particular broker’s trading platform. If you eventually decide to use it as a tool for real life trading, it has to be a tool that’s comfortable to use. As such, it should ideally be fully representative of the live platform in terms of access to all features. A demo account allows more than one platform to be compared. This is useful both for the novice trader, but also for more experienced users looking to ensure they are trading with the best provider. It is of course, possible to have accounts with different brokers to ensure the best payouts on specific assets and trades.

Demo trading account should match live platform

The idea behind most demo accounts is that you see the results of your simulated trading activity reflected in your virtual balance. For a true picture here, it’s important that the payout rates mirror those in real life. So for instance, on the live account, if the payout rate on a particular asset is 85%, it’s important that the same rate applies on the demo account, too. Likewise, if the live account features a returns slider, that slider should work in exactly the same way on the demo as on the real thing.

Is binary options trading for you?

As a novice in this area, you may be weighing up binary options alongside other forms of trading. As well as reading around the subject, signing up to no-deposit binary options demo accounts can be a useful method of hands-on research.

Exploring new asset classes

Let’s say you have only ever traded one or two asset types in the past (forex, for instance). Binary options demo accounts provide a risk-free environment to explore new areas. From indices through to commodities and individual shares, the demo should ideally provide access to all assets available on the live version, giving you scope to experiment.

Demo accounts as part of your education

Some brokers provide access to a wealth of educational and instructional resources – suitable for novices and more experienced traders alike. A range of brokers focus on user education, featuring an introduction programme, a range of seminars and various guides. The demo account is one of the best ways to find out whether you actually understand what you’ve been learning. Likewise, if you are still honing a strategy, a demo account can be invaluable for putting it to the test. Consider it a ‘practice account’. IQ Option will even allow you to back test trading strategies on the demo account or even test robots in real time.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    1st Place! Best Binary Broker 2020!
    Best Choice for Beginners — Free Education + Free Demo Acc!
    Sign-up and Get Big Bonus:

  • Binomo
    Binomo

    2nd place! Good choice!

News and analysis: how does the alerts system stack up?

Many platform providers claim to be able to keep you in the loop – where ever you are. An alerts system can certainly be invaluable in keeping you up to date with changing market conditions and informing you of new opportunities. So the demo account lets you see just how useful such a service really is – as well as allowing you to test out the mobile-friendliness of the platform.

A growing segment of the demo account picture is for the full trading app experience to be available via a demo account app. The brokers who have taken the time to make this available, are more likely than not to have the better trading platforms – after all, they have gone to the extra effort of making sure as many people as possible see it.

Free Accounts – Check It Actually Is Free!

Some brokers will offer a demo account, and refer to it as “free” – but it actually requires a deposit in order to gain access. Given the benefits of a demo account, it might be worth paying a deposit, particularly if it is a brand you want to check out – but tread carefully. In some cases, the initial deposit can trigger a bonus, which may impact withdrawal limits. Where this is the case, the demo account is certainly not “free”. In most cases, a demo account will not require a deposit. The broker should have enough faith in their platform that you will not look anywhere else after trying theirs. Those that impose restrictions (such as needing a deposit, or large amounts of sign up information) perhaps do not have as much confidence in their offering.

Demo Contests

Some brokers will promote competitions and contests among their demo users. This encourages traders to use the platform more, but also aids the broker in converting those demo account holders into real money users. These contests come in many guises but often carry real money rewards – another step in hoping traders make the move to real money. These contests are just another marketing tool for the broker, but offer traders a good incentive to stay active. No deposit is required to enter so there is no risk for the trader – and they can be a lot of fun.

Finding the Best Accounts

A demo account should be a risk-free, no-obligation way of testing a platform. It can be especially useful for finding out whether the user experience described by the broker is all that it’s cracked up to be. Ideally, you’ll do some homework on the broker before signing up to the demo (checking key areas such as whether it is regulated and whether the payout rates are competitive) to avoid wasting your time on a broker who might have a swish website but less than adequate service. Finally, it’s worth noting that once you’ve signed up to a demo, access to it might be granted for a limited time only. So if you do sign up – don’t forget to make the most of it. The very best demo accounts are free, exactly the same as the real platforms, and not time limited.

Binary Options Brokers and Platforms – Reviews and Comparison

We have compared the best regulated binary options brokers and platforms in April 2020 and created this top list. Every broker and platform has been personally reviewed by us to help you find the best binary options platform for both beginners and experts. The sortable broker comparison list below shows which binary trading sites came out on top based on different criteria.

You can sort the list using payout (maximum returns), minimum deposit, bonus offers or if the operator is regulated or not. You can also read full reviews of each broker, helping you make the best choice. Below the comparison list is some advice on how to pick the best trading platform for you, as this will often come down to your personal requirements and needs.

Top Brokers

Binary Options Brokers
Broker Regulated Min Deposit Payouts Bonus
Nadex Exchange $250 100% » Visit
RaceOption $250 90% 100% Deposit match bonus » Visit
BinaryCent $100 85% 100% Bonus on ANY 1st Deposit » Visit

How to Compare Brokers and Platforms

In order to trade binary options, you need to engage the services of a binary options broker. Here at binaryoptions.net we have provided a list with all the best comparison factors that will help you select which trading broker to open an account with. We have also looked at our most popular or frequently asked questions, and have noted that these are important factors when traders are comparing different brokers:

  1. What is the Minimum Deposit? (These range from $5 or $10 up to $250)
  2. Are they regulated or licensed, and with which regulator?
  3. Can I open a Demo Account?
  4. Is there a signals service, and is it free?
  5. Can I trade on my mobile phone and is there a mobile app?
  6. Is there a Bonus available for new trader accounts? What are the Terms and
    conditions ?
  7. Who has the best binary trading platform? Do you need high detail charts with technical analysis indicators?
  8. Which broker has the best asset lists? Do they offer forex, cryptocurrency, commodities, indices and stocks – and how many of each?
  9. Which broker has the largest range of expiry times (30 seconds, 60 seconds, end of day, long term etc?)
  10. How much is the minimum trade size or amount?
  11. What types of options are available? (Touch, Ladder, Boundary, Pairs etc)
  12. Additional Tools – Like Early closure or Metatrader 4 (Mt4) plugin or integration
  13. Do they operate a Robot or offer automated trading software?
  14. What is the Customer Support like? Do they offer telephone, email and live chat support – and in which countries? Do they list direct contact details?
  15. Who has the best payouts or maximum returns? Check the markets you will trade.

We cover as many of these comparison factors as possible in our list above, but we go into much more depth within each review.

Regulated Binary Brokers

Regulation and licensing is a key factor when judging the best broker. Unregulated brokers are not always scams, or untrustworthy, but it does mean a trader must do more ‘due diligence’ before trading with them. A regulated broker is the safest option.

Regulated Binary Options Brokers April 2020

Broker Regulator Instruments
Binary.com Malta GA BO, CFD
IQ Option CySEC BO, CFD, Crypto, Forex
BDSwiss CySec BO, CFD, Crypto, Forex
24Option CySEC BO, CFD, Crypto, Forex
Nadex Exchange CFTC BO, Forex
HighLow ASIC BO

Regulators

Leading regulatory bodies include:

  • CySec – The Cyprus Securities and Exchange Commission (Cyprus and the EU)
  • FCA – Financial Conduct Authority (UK)
  • CFTC – Commodity Futures Trading Commission (US)
  • FSB – Financial Services Board (South Africa)
  • ASIC – Australia Securities and Investment Commission

There are other regulators in addition to the above, and in some cases, brokers will be regulated by more than one organisation. This is becoming more common in Europe where binary options are coming under increased scrutiny. Reputable, premier brands will have regulation of some sort.

Regulation is there to protect traders, to ensure their money is correctly held and to give them a path to take in the event of a dispute. It should therefore be an important consideration when choosing a trading partner.

Bonuses

Both sign up bonuses and demo accounts are used to attract new clients. Bonuses are often a deposit match, a one-off payment or risk free trade . Whatever the form of bonus, there are terms and conditions that need to be read.

It is worth taking the time to understand those terms before signing up or clicking accept on a bonus offer. If the terms are not to your liking then the bonus loses any attraction and that broker may not be the best choice. Some bonus terms tie in your initial deposit too. It is worth reading T&Cs before agreeing to any bonus, and worth noting that many brokers will give you the option to ‘opt out’ of taking a bonus.

Using a bonus effectively is harder than it sounds. If considering taking up one of these offers, think about whether, and how, it might affect your trading. One common issue is that turnover requirements within the terms, often cause traders to ‘over trade’. If the bonus does not suit you, turn it down.

Demo Accounts

Binary options demo accounts are the best way to try both binary options trading, and specific brokers’ software and platforms – without needing to risk any money.

You can get demo accounts at more than one broker, try them out and only deposit real money at the one you find best. It can also be useful to have accounts at more than one broker. For example, payouts for two different assets might be best at different brokers. You can shop around, and use whichever account has the best payout for that asset.

Demo accounts offer the best way to try out a brand, risk free. Likewise if we recommend a brand, you can try it first, before risking anything.

Low Minimum Deposits

If you are looking to get involved with binary options for the first time, low minimum deposit requirements may be of interest. For traders just looking to try binary options, a low minimum deposit broker might be best. A small initial deposit keeps risks low. Minimum deposits start at just $5 and there are a growing number of brokers offering low minimum deposits – “low” would be any minimum under $50.

Likewise, all brokers will have a minimum trade requirement or trade amount too. These can vary greatly between platforms. Minimum trade figures range from $1 to $25 – which is a large difference if a trader plans to trade frequently. For some traders, this might be less of a factor in terms of finding the best broker for them, but for others it will be very important. Practice accounts are a zero risk way of learning to trade.

Payouts

One element many traders use to find the best binary options trading account, is the payout percentage on offer. This is not always a simple comparison however. Payouts will change based on the underlying asset being traded, and the expiry time of the option. In addition, payouts will change as the broker manages their own risk. So if one broker was originally the best price, things may then revert and mean that another now has the top payout.

So the most an investor can do, is to check the payouts for assets, and expiry times they are most likely to make, and judge which brand offers the best terms most often. Demo accounts are good when researching payouts on specific assets and trades.

Exchange traded and over the counter brokers will have different payouts – and they will not be easy to compare. In general, exchange traded options offer superior value. Nadex are one example of an exchange.

So as you can see, finding the best trading account and broker is not always easy – but it is worth noting that you are free to move between brokers whenever you like. So even if an account turns out to be poor, it is easy to up sticks and find a new trading firm. Likewise, a trader could have multiple accounts, and open trades at the broker with the best terms for that particular trade.

US Regulated Brokers

In the US, the Commodity Futures Trading Commission (CFTC) have only licensed two operators – Nadex and CBOE – to provide binary options trading to clients in the USA.

Brokers based in Europe will not generally accept US residents as clients, as doing so can result in large fines. Some off-shore providers will accept US citizens as their regulatory status permits them, but the CFTC may ultimately step in if they deem it necessary.

CFTC regulated brokers:

Nadex Exchange $250 100% » Visit

Which is the Best Binary Trading Platform?

Naming the best trading platform is not easy, simply because trading platforms and proprietary (bespoke) software are normally a question of personal taste. One user might like a simple layout, while others might need a lot of data on screen all the time.

However, platforms do have different levels of quality, both in terms of ease of use, and features. Broadly speaking, brands which offer Contracts for Difference (CFDs) in addition to binary options, deliver a more feature-rich trading platform or advanced software.

So the likes of Nadex and IQ, will deliver a very professional trading platform. MetaTrader integration is also normally provided at the more professional brokers (Some use both mt4 and mt5 functionality) . This difference in quality is evidence of the maturity of binary options as a product, but binary brands will catch up very quickly.

Intro To The IQ Option Platform

How do Brokers Make Money?

Binary options brokers make money via one of two business models:

  1. As a counter-party, ensuring an ‘over round’ via payout percentages. Known as ‘Over the counter’ (OTC)
  2. Via a spread or commission on an exchange traded model

People who have experience of other forms of trading, and are now approaching over-the-counter (OTC) brokers for the first time may find themselves asking the question: “Where is the commission?”.

With OTC binaries however, there is no commission. In theory, the term ‘brokers’, is not correct. Binary firms are not arranging a deal or acting as a middleman, or as a market maker; What they are, is the counter-party to each of their customers’ positions. So there is no fee or commission for the trade. Instead, each customer is essentially betting against the house. Where brokers have both sides of a trade covered, they have a handsome margin. Where they do not, the payout still gives them a level of protection. In certain circumstances, the broker will also hedge it’s own position to mitigate risk.

Those companies (Nadex, for instance) that trade binary options via an exchange operate much more like a ‘broker’. Unlike the OTC market where the platform is the counter party, with exchange traded options, the broker is the middleman – matching buyers with sellers and charging a commission. This charge is normally hidden within the spread, rather than an explicit cost. There is far less risk involved for the broker, and therefore generally better returns per trade for the trader. Brokers can be actively compared using the spread – the tighter the spread (difference between buy and sell prices) the cheaper it is to trade.

Brokers using the spread model often also offer leverage, or trading on ‘margin’ via their software. This increases the trade size for the trader – and profit for the platform.

Should You Use Multiple Brokers?

There are some very good arguments for having more than one binary trading account:

  • Brokers suit certain trades. Different brokers will suit different trading styles, or trade types. So one broker might be excellent for shorter term trade types, and have great payouts on forex pairs. But that same brand may be slightly less good when it comes to offering boundary trades or indices payouts. If a rival had a full set of long term expiries with great payouts, and lots of choice of boundary trades – it makes sense to have accounts with both platforms, and place trades with the broker that offered the best deal for each trade.
  • Demo accounts. Multiple demo accounts makes perfect sense – you want to try as many brokers and trading platforms as possible before deciding where to trade.
  • Reduce risk. Accounts at more than one broker protects you from any issues with a particular firm. From issues as serious as insolvency, to smaller things, like website downtime, software issues or a market being closed – multiple accounts reduces your risk of being affected by any hardship a broker might face.
  • Multiple offers. Each sign up can mean a new bonus, so it might be worthwhile taking up more than one account to receive all the offers. As ever, read the terms – and also note that on occasion, larger deposits might mean larger bonuses – so splitting them may not be the best choice.
  • Spread winnings. Some brokers may look for winning traders on their books, with a view to restricting their trading, perhaps limiting trade size – or worse. While this threat is thankfully small, multiple accounts means spreading the winnings out. Most brokers will search for “winners” based on total profit rather than strike rate, so hiding the volume across broker accounts can help you stay below their radar.

Exchange versus OTC (Over the Counter) Brokers

Exchange Brokers

A broker that offers an exchange is much closer to a traditional ‘broker’ than OTC brokers. An exchange performs the job of ‘middleman’. They will match a seller of an asset, with a buyer of the same asset, and charge a commission for putting the deal together. The market itself will decide the prices – if there are more sellers than buyers, the price will drift down until demand rises. If there are more buyers than those willing to sell, the option price will rise.

A broker operating an exchange does not mind who wins and who loses. They take no risk on the trade themselves (unless the traders are trading on credit). The broker will make their commission on the trade regardless of the outcome.

Due to this reduced risk for the broker, the returns for a winning trader are generally larger. Commissions are usually small relative to the size of the trade, meaning they do not impact the payout too much. Other benefits include the fact that stop losses can be applied, and also that trades can be closed at any time (to take a profit or reduce losses).

The complications with exchanges, comes from the structure. An exchange traded binary option will “trade” somewhere between 0 and 100. Where 0 is the figure used where an event did not occur, and 100 where it did. If the current price is currently 30, a ‘buyer’ would risk 30 times his trade size, to potentially win 70. A ‘seller’ therefore, would risk 70 to win 30. While not a complicated equation, it is slightly more complex than the straight forward over the counter option.

OTC (Over The Counter) Brokers

The most common type is the Over the counter (OTC) broker, but this type of firm is not really a ‘broker’ at all strictly speaking. They are the counter-party to one side of the trade. So where a trader opens a position, the broker will win or lose money, based on whether the trade wins or loses. Only where the broker has another trader who has made the exact opposite trade, will they have assured profits.

Due to this increased risk, the brokers will offer a lower payout which mitigates some of the risk they are taking. It is therefore likely to be lower than an exchange traded broker. Some firms will also have built in ‘hedging’ mechanisms to reduce risk further. In some cases, one side of trade might be made unavailable if liabilities get too large.

The simplicity of binary options is retained with OTC brokers. They have also made great strides in competing with exchanges by offering ‘cash out’ values for options, allowing traders to close positions early, and set up stop losses. Once those features become common the gap between OTC and exchanges will get smaller. For now, traders are better off trading on an exchange – but might be advised to learn the differences via demo account.

Have you had a problem with your broker? Submit a complaint

Payment Methods

Deposit and withdrawal options do vary at each brokerage. Each of our reviews will explain which each firm offer, but below is a list of the most common options.

If you are looking for brokers that support a specific payment method:

  • Neteller
  • Paypal
  • Skrill
  • Webmoney
  • Paysafecard
  • Ukash
  • Visa
  • Amex
  • Bitcoin
  • Wire Transfer
  • Credit cards / Debit cards

Read More

All of the factors covered above will ultimately affect the way a trader plays the market, and therefore, their profitability. The ideal situation is to get a binary broker that offers:

  • Several financial assets spread across several markets
  • Offers a reasonable bonus with a good payout approaching 90%
  • Offers flexible expiration dates without boxing traders into very long expirations.

Trading using a broker’s platform will only be enjoyable, and profitable, if you are using a reputable operator. You also need to choose one that suits your trading style best – only you will know what that is. Read the above binary broker reviews carefully before making that crucial trading decision, but remember you are not tied in to any single broker, and can pick and choose.

Free Demo Accounts

If you are new to binary options, demo accounts can be a great place to start. While you may understand the concept of trading, actual trading with real money can be a daunting prospect. For the inexperienced trader risking your own money can be a nervous time and as such we highly recommend using a demo before you feel confident trading real money.

Not only is it an excellent plan to start practice trading with virtual money for novice traders, but a demo account can also be a real benefit for those who are switching brokers. What better way to check out that new broker and get to grips with a new trading platform than doing so without risk.

While many brokers only offer a practice mode to traders once the money is deposited, we have researched the best in the marketplace and found those that offer a free demo account with no deposit required. Not only do these brokers provide demos, but they also want their traders to do well and provide a whole range of educational tools to guide you.

In this article, you will learn:

    All the different types of demo platforms Why traders should always practice trade How to use them to maximise your profits

The Right Practice Broker

You probably don’t have the time to search through scores of brokers looking at each, the requirements that go with it and testing them all to find the one that’s right for you. Are we right? Our experts have done precisely that. We have vetted the various binary options brokers to test the following when it comes to demo accounts:

Is a Demo Account Offered

It is unusual for a good broker not to offer a practice account these days. It is a critical way to attract new traders, so it stands to reason that part of their package to encourage you to open an account, is to offer a demo platform.

How Easy is it to Use

Is the demo account easy to use? Because it is a simulated version of the live platform, it should represent the actual trading environment. You also need to be able to access it from a mobile device so that you can trade on the move.

The Demo Account Cost

When we say; “the demo account cost” what we mean is whether or not you need to deposit to gain access. Some brokers will allow you to enter your email address and start using it straight away. Others will insist on a deposit to open an account first.

Broker Terms of Use

With some brokers come certain conditions. While some will offer a one-time demo account that you have to use within a specific amount of time, others will allow you to reload your balance or open more than one.

If you choose wisely, you should be able to find brokers that allow you to try before you deposit funds. This way you have nothing to lose if you

Trader Broker Asset Profit

Why Use a Demo Account

Demos or practice accounts are there to give the novice trader some “practise” before they start to risk their own money. As with lots of things, gaining the skills takes lots of practice, it certainly does help to use a demo before you trade for real.

These accounts allow your to have a few “test runs” at trading with virtual funds before you start to use your own money. For those who have a little more experience, a practice account is also a great way to test new strategies or broker features.

You may trade a certain way, but you may be looking to try out a new method. With a test account, you can try out new theories without the risk. If you are looking to make the switch from another broker, it is also a great way to get to grips with trading on a different platform.

Demo Account Tips

Some accounts have limitations. Some brokers will only allow you 72 hours of trading. That is plenty of time to get to grips with a platform and test out a few trades if used correctly, but when you sign up, you don’t have whole days to play. Even though a practice account uses virtual money, it is still essential to get the best demo account out there and gain crucial experience for when you start to trade with real money. If you plan on using automated tools like robot software, make sure the demo account allows that too.

    Start using your account as soon as you sign up. If you only have 72 hours you need to capitalise on that time. Don’t sign up and forget about it Get familiar with the platform. Learn how to use their charts. If this isn’t the trading site for you, then you will soon discover this Make sure the mobile experience is right for you. Is it easy to use and visually pleasing or does it make your head spin? Now is the time to get to grips with the functionality Focus on finding the correct trading figure. When you start, it can be hard to know how much of your funds to trade. A demo account allows you to experiment with this Try different assets. You may have a strength in one particular area. Don’t just stick with one, when it’s virtual it’s important to experiment Don’t get impatient. If you are consistently winning while trading on your virtual account that is great and may boost your confidence to start trading for real Make your mistakes with the demo account. Not with your real money. Also, consider that you may not experience loss with your virtual account Check out the educational tools on offer from that broker. Take the time to learn beforehand so that you will become more profitable when you trade for real

If you are new to binary options, demo accounts can be a great place to start.

Our reviews and recommendations give you a comprehensive shortlist of contenders, but it is up to you to make the final decision. We have conducted countless surveys based on some points, but only you will be able to know what works for you. There is no harm in choosing a few and taking advantage of all of them. Even making a small deposit in each and trialling each demo could save you losses in the long run.

Use the demo accounts on all platforms until you are satisfied that you have found the one that works for you. Then follow our tried and tested tips to make sure you maximise your practice experience. Once you have experienced successes and perhaps losses from virtual trading, you will no doubt feel more comfortable and confident trading with real money. Find your strengths, know your limitations and enjoy trading.

In our experience demo accounts used correctly enhance the trading experience and make trading more comfortable, especially for the first time trader.

Frequently Asked Questions

Are binary demo accounts free to use?

Generally, binary options brokers require you to deposit real money before they allow you to use a demo account. There are a few selected brokers that do offer free versions.

Do all brokers offer demo accounts?

No, not all brokers offer practice accounts, but the top brokers do. Some of these will require a minimum deposit before you can use the account.

Can I use a demo account with no deposit?

Most brokers require a minimum signup deposit when you open an account to use the features of their demo account but not all.

Are all trade types and assets available?

With many brokers, you can trade as you would on the live system, but a few brokers do restrict the number of assets available.

Do they come with any time restrictions?

With some brokers, yes, they do come with time restrictions. When you deposit your funds, some brokers may place a cap of say 48 hours on the demo account.

Shelly is proud of her current position as Head of Brand for a well-known organisation that owns several brokerages in the trading sector. She’s consulted for us since 2020 and readers can benefit from her insider knowledge of how brokers work.

Best Binary Options Demo Accounts

Binary options are one of the simplest ways to invest in the financial markets. All it takes is a demo account to get started.

Damyan Diamandiev
Contributor, Benzinga

Binary options are one of the simplest ways to invest in the financial markets. It’s a preferred way of trading among investors, especially beginners. However, “easy to do” is not enough to be successful. You’ll need to test your success on a free binary options demo account. If things work out there, then you can switch to trading with real money.

Quick Look: The Best Binary Options Demo Accounts

  • IQoption
  • Binary.com
Table of contents [ Hide ]

What are Binary Options Trading Demo Accounts?

A demo account is a practice trading account which works just the same as a real money account operates. You can test your strategies and success with virtual money on demo accounts. Free binary options demo accounts contain real price moves, so you can check to see if your trading system works without putting your financials at risk.

You’re likely to have access to all available financial assets and all trading tools, just like in a real account, but the “money” in the account is virtual. Also, you can change the amount to adapt to a real-case scenario.

Example: You want to start trading binary options with $5,000 but you are not sure of your strategy.

Solution: You open a free binary options demo account with a broker. You change the virtual amount of money in the account to $5,000. Then you are ready to go same as if you have opened a real binary options account.

Why Use a Demo Account for Binary Options Trading?

The first step you’ll take toward actual trading is to open an actual demo account. There are a few main reasons why you should start by using a demo account.

  • Get used to the interface. Most likely, you’ll open a demo account with the broker you’re considering for real money trading. A demo account with this actual broker will get you used to the interface you’ll use once you’re trading with real money. That way, when you start with real money, you’ll know the functionality of the platform you’ll use.
  • Practice. If you’re a beginner binary options trader, you’ll need to practice the order-opening process. Call and put binary options can be challenging, so play around with the expiration of the options. Learn how to adapt to different situations on the market using news announcements and financial data releases.
  • Test your strategy. Prepare a strategy. To figure out the signals you will use to buy binary options, you’ll need to test and optimize your strategy without risking any money. And you can do this forever until you find out whether your strategy is working.
  • Test your money management skills. You’ll need to trade only small parts of your bankroll to avoid bankruptcy. Let’s say you want to deposit $3,000 for trading. You decide that you want to invest $1,500 in each of your trades. If you fail two times in a row, you will go bankrupt.

Question: How likely are you to fail or go bankrupt?
Answer: Very likely. You can avoid this by putting small parts of your bankroll in each trade, say, 1%. This way, you will need to be wrong 100 times in a row to go bankrupt.

If you trade successfully on a demo account, then you can consider switching to a real money account. Apply the same strategies there and you are likely to get the same results.

What to Look for in a Binary Options Trading Account

Your broker research should start before you open the demo account, and the characteristics to look for are listed below.

Regulated Provider

Be sure to target only regulated brokers. A regulated broker is subject to the law of the country of regulation. After all, you’re giving your money to somebody, and if a dispute arises, you want to make sure that it gets resolved fairly.

Longevity

Most scam brokers get shut down after a year or two. If a broker has existed for many years, it is less likely that this broker is a fraud.

Positive Online Reviews

Check out what people think of the broker you’re considering. Check for ratings, Google the company’s online reviews. Search for something that may trigger an alert.

Number of Tradeable Assets

A good free binary options demo account will have many tradable assets available. You don’t want to practice on an account that offers you only three currency pairs. Look for diversity. Diversified portfolios are the more secure way to go as you count on many institutions.

Friendly Interface

Your trading platform needs to be simple, straightforward and easy to understand. If you don’t feel comfortable with the demo account interface of a broker, change the provider. You won’t want to trade real money when you don’t like a particular interface.

Set of Trading Tools

The trading tools are a must for every good demo account for binary options trading. The more tools available, the better. After all, these tools will help you build your trading approach.

Dedicated Support

All reputable brokers offer dedicated support. Some companies even offer 24/7 support.

Red Flags to Watch Out for in a Binary Options Demo Account

Here are the most common red flags to look for when looking for a binary options broker.

Lack of Regulation

Do you have doubts about the regulation of a broker? Better find another one. Maybe the broker is subject to regulation in a less-developed country, or the regulatory body of that government is at a very low level. How likely is that it resolves a dispute in your favor? How likely is that it has a system for resolving such disputes? If this is the case, then you might want to approach another broker.

Chart Discrepancies

It’s always good to compare the charts of the different brokers. They need to look the same. If one is not the same as the others, then somebody might be manipulating these charts. You need to avoid market manipulation.

Online Money Disputes

Google to see if the broker has open money disputes, a major red flag. If it’s blocking withdrawals, you’re likely to find information about this on the internet.

The Best Binary Options Demo Accounts

Check out these top-notch binary options demo accounts.

2. IQoption

IQoption’s Key Facts

Regulation: CySEC (Cyprus)
Existence: 5 years
Tradable assets: 49; currency, companies, gold
Interface: Very simple and user-friendly
Trading tools: Decent amount
Support: High – 24/7

IQoption’s demo account platform. Source: IQoption

As you see, the IQoption’s platform is pretty simple. Furthermore, it offers a mobile app platform, which is even easier to use. The order execution is good and you can do plenty of trades for seconds.

You can switch between different charts. The default chart you will get is a line chart. But you can switch to a Japanese candlesticks chart a bar chart or a Heikin-Ashi chart. You can also change the colors of the charts.

In the left panel you have few buttons:

  • Total portfolio – shows all your current positions
  • Trading history – contains all your past positions
  • Chat & support – you can chat with the support or in channels with other traders
  • Leader Board – keeps track of the best traders with biggest profits
  • Market analysis – news and analysis from different providers
  • Video tutorials – you can watch all type of informative videos here
  • Help – gives you a hand with administrative and general questions

At the bottom of the chart, you can pick a different time frame. Note that you can also change time frames by scrolling with the mouse.

You can choose between a rich set of trading tools. Some of these are:

Different types of lines:

  • Rays
  • Trends
  • Horizontal and vertical lines
  • Fibonacci levels
  • Moving averages
  • Bollinger Bands
  • RSI
  • MACD
  • Parabolic Sar
  • Alligator Indicator
  • ATR
  • ADX
  • Ichimoku Cloud
  • Momentum Indicator

There are even more indicators on IQoption. Honestly, they are not that much. But still, your technical analysis will be well supported.

2. Binary.com

Binary.com’s Key Facts

Regulation: British Isles, Malta
Existence: In operation since 2000, regulated since 2020
Tradable assets: 57; Currency, indices, commodity, volatility indices
Interface: Very simple and user-friendly
Trading tools: A rich set of indicators
Support: Decent

Binary.com’s demo account platform. Source: Binary.com

The platform of Binary.com is also simple. It consists of two parts, the upper part for trading and the lower part that contains the chart. These two parts might be a bit confusing as it is hard to look at both of them at once. If you zoom out your browser, you will make it work.

You can regulate the chart time frames from the bottom of the chart. You adjust a horizontal scroll, which shows what part of the chart you are covering.

Binary.com is not that rich on resources as IQoption. But they still have the most needed resources available. A disadvantage is that they only have line and dotted charts available. They don’t have Japanese candlesticks or bars, which might limit your analysis.

But on the other hand, they have plenty of indicators – more than 100. They also have chart templates. So, you can very easily save your template and apply it to another chart.

Final Thoughts

Demo accounts are a great solution for testing purposes, but you still need to do your research. Fraudulent brokers exist are only looking for ways to make you deposit funds. Even if you win money, they might not let you withdraw your profits. Follow the steps above to avoid scams, too.

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Best Binary Options Brokers with Demo Account 2020

Trading binary options is gaining popularity rapidly. More and more people are getting into the trade seeking to make a profit. Binary options trading is much easier as compared to other forms of online trading. However, a certain level of expertise in analyzing global financial markets is essential. It would be foolish to imagine that you can just stumble on a binary options brokers platform and start making a profit. You need to first learn the ropes before you can start trading.

IMP NOTE:

Now Get Real Account with as little as $10. And start trading the BINARY OPTIONS, FOREX, FX OPTIONS & CRYPTOCURRENCIES at one platform. Click To Open Free Demo Account | Click To Get Real Account In $10 (Updated July 2020)

My Recommended Brokers Updated January 2020

The difference is in how fast you can learn how to trade. When you get a good binary options broker you will be able to learn how to trade quite first. As such, while choosing a binary options broker it is important to consider the tools and resources that they offer for beginners. One of their most important resource for beginners is a demo account. A demo account allows beginners to first trade with virtual money so that they can get acquainted we how binary options trading works.

There are many binary options brokers in the industry with demo accounts. Demo accounts are not similar though. We sent out our binary options experts to explore the various binary options brokers with the demo accounts. We sort to find out which is the best binary options broker with a demo account. IQ Option turned out to be one of the best binary options brokers with demo accounts

IQ Option

Anyone who has been on the binary options trading space for a while has certainly heard about IQ Option. IQ Option is one of the largest binary options brokers in the online trading space. It boasts of over 17 million people trading on the platform. One of its strongest selling points is its demo account. It offers the best binary options practice account.

IQ Option operates a proprietary web-based platform, a desktop platform, and an app platform. All these platforms are easy to access and navigate while trading. IQ Option offers three types of real trading accounts and a demo account.

IQ Option Demo Account

Getting an IQ Option demo account will not cost you anything. All you need to do is fill up your information and sign up for an account. The account is always loaded with $1000 virtual money which you can keep reloading as you trade. That means you can practice as much as you want.

The trading interface of the demo account is similar to that of a real account. The market trends are a simulation of a real market scenario. They are not the actual trends of the real global financial market though. The demo account allows you to trade with all the trading instruments offered by IQ Options as well. You can trade binary with indices, stocks, cryptocurrencies, currency pairs, commodities, forex, and many other instruments.

The fact that you’re not trading with real money allows you to experiment with different techniques and understand your strengths and weaknesses. You can take as much risk as you want so that you can learn how to trade and profit.

The unlimited demo account money is one of the most impressive aspects of an IQ Option demo account. Many other binary options brokers will give you a demo account with a fixed amount of virtual money so that they can force you to make a deposit as soon as possible. Some will even have a 60-second binary options demo account. You are at liberty to exercise as much as you want on IQ Option and then make a deposit for a real account whenever you feel ready. It is indeed the best binary options demo account.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    1st Place! Best Binary Broker 2020!
    Best Choice for Beginners — Free Education + Free Demo Acc!
    Sign-up and Get Big Bonus:

  • Binomo
    Binomo

    2nd place! Good choice!

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Broker Min Deposit ($) Min Stake ($) Max Payout (%)
IQ Option 10 1 95 1st Choice
ExpertOption 50 1 95 2nd Choice
Olymp Trade 10 1 92 3rd Choice