Free binary options demo accounts are among the greatest draws and marketing tools binary option brokers can make available to their would-be traders. It is indeed surprising how few such brokers opt to toss this offer into the mix. A good free demo account doesn’t just give the trader a way to put the platform of his/her broker to the test, it also serves to whet the appetite of the client for real money trading and as a test-lab for various trading strategies. Here’s a brief comparison of five of the best such free binary options demo accounts.
IQ Option Demo
The IQ Option demo account is without a doubt one of the best in the business. The reasons for its success are numerous, but the fact that it belongs to one of the most popular brokers (and that it was developed in-house) certainly hangs heavily in the balance. The IQoption demo account offers traders access to some of the best trading tools in the industry. It opens up all the features of the full software to the general public, for free. Accessing the demo account is easy. All one is required to do is to register, by filling out a registration form. After that, $1,000 is immediately made available in the demo account. Given how the minimum investment is $1, that does indeed provide more than enough fuel for testing out strategies and getting the know the interface. The trading interface is very user-friendly and easy to get the hang of. It has to be noted that one doesn’t actually have to make a real money deposit to gain access to the IQoption demo account.
The IQ option trading platform offers second-by-second tracking of various markets. It is, in and of itself, a great charting solution. Traders can select various technical indicators and trade right off these charts. Needless to say, all these features are available in the demo account as well. One will quickly find him/herself drawn into a lengthy demo trading session on this platform, and as strategies are figured out, the thought of a real money deposit will become more and more attractive, especially considering the fact that the minimum requirement in this respect is only $10.
I suggest using the IQ Option demo if you’re in one of the countries where IQ Option is available. This excludes the USA, Canada, Australia, Belgium, Russia, Japan, Turkey, Israel, Syria, Sudan and Iran.
Nadex is an exchange-based binary option operator. It is more or less the only viable solution in this regard for traders based in the US. Unlike its European counterparts, Nadex works a business model which does not pit traders against the “house,” and as such, it is in its best interest not to limit access to its demo account in any way. The free Nadex demo account is one of the best in the business indeed. It isn’t a limited time deal, no features are cut from it and it offers traders plenty of virtual funds.
What do you, as a trader, get if you sign up to the Nadex demo account, and how easy is it really to sign up? Nadex have a special page on their website dedicated to their demo account. By accessing that page, traders can open a demo account by filling out a simple form, within about 30 seconds. Following an email confirmation, they’re free to access their full Nadex demo account.
The virtual funds which are provided in the demo account tip the scale at $25,000. The demo account isn’t limited in time: traders are free to use it for as long as they want to. There are absolutely no requirements attached to demo account access. No, traders do not have to create a real money account and deposit first.
All the platform features are made available in the demo account, nothing is limited/removed. What’s more, demo traders gain access to the full range of underlying assets as well as to all the expiry times available through the real money platform. Given that Nadex and its whole way of working are radically different from what EU-based traders may have experienced, the demo account carries additional significance for those making the transition from a CySEC trading model.
The Nadex demo is recommended for all US traders. Nadex is not available outside of the US.
In ExpertOption’s case, full access to a free binary options demo account takes on an entirely new importance. The site was only launched in 2014, so it’s a relatively new operation. Furthermore, its trading platform is a proprietary one, which makes it even more important for traders to be able to take it for a risk-free test-spin before they commit. That’s exactly what the ExpertOption demo account is meant to accomplish, and more.
ExpertOption take demo account accessibility to an new level too. Unlike the brokers discussed above, they do not even require any sort of registration on the part of their clients. All would-be traders need to do is to click a button, and the trading interface is loaded straight away.
The starting balance in their free binary options demo account is $1,000, and yes, all the features are indeed present in the demo version, including the full asset-selection as well as all the option types and expiry times. Obviously, one can reload the funds as many times as he/she wants to. As a learning tool, the demo account is indeed a perfect fit. Its every feature, including the actual execution of trades, mimics the real money platform perfectly.
The ExpertOption demo is recommended for anyone, anywhere.
Free Binary Options Demo Conclusion
Unfortunately, the above detailed brokers and exchanges seem to be the exception when it comes to free binary options demo accounts. Scores of brokers do not offer any kind of a demo account, while the majority of those who do, only offer limited access, for a limited time, to those who actually create a real money account and make a deposit.
If you’re new to binary options, the best way to start out is to sign up with one of the above free binary options demos and to join Michael Freeman’s manual signals Facebook group. Then, you should use our signals for 1-2 weeks with your demo account. Only make a deposit and start investing real money when you are confident in your ability to apply our signals profitably.
Other Recommended Free Binary Options Demo Accounts
HighLow – Best AU-regulated broker (best for people in Australia, New Zealand and Japan.)
Ayrex – fully regulated and allows 30 second turbo trades.