Demo 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!

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.

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 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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