Binary Options Demo Account
Binary Options Demo AccountJuly 8, 2012
Anyone wanting to start trading binary options online will have to open an account with a broker first. Before you open a real money trading account, its best you register for a free demo account.
The benefits are obvious, it allows you to simulate a trade in close to real life circumstances from the comfort of your own home, without taking any real risk. Whether you are an experienced trader, or an amateur just starting out, opening a practice account with one of the recommended platforms is mandatory. Just like you wouldn’t buy a car without taking it for a test drive, don’t deposit or trade with a binary options broker before you sign up for a demo account. Below you will find a review and comparison of a few select demo accounts from some of our recommended online brokers.
The 24Option Demo Mode is probably one of the best I ever tried out. It provides you with an interactive trading chart located right inside the asset box, and this allows you to simulate trades in a live trading environment without having to make an initial investment. Looking at the stock fluctuations and seeing how the peaks and dips react in a risk-free environment, gave me the added security I needed to go ahead actually start risking money and executing trades.
AnyOption Demo Account
The demo mode in Anyoption is probably the best since it provides you with an interactive trading environment that simulates the real money trading account in the best possible way. It’s also presented in the most simple and easy to grasp way, and enables you to immediately start simulating trades from the second you enter an amount.
It’s plain to see the important features, namely the moving average line, the exchange rates, contract expiry times, the expected ROI above and below, and of course the easy to use asset index located at the top menu. Anyoption has a variety of currencies to choose from when trading forex or currency pairs online, USD/EUR, AUD/USD, EUR/GBP, NZD/USD, EUR/JPY, GBP/USD, USD/CHF, USD/JPY, GBP/JPY. Furthermore each asset includes the expiry time, the expiry formula, and the currency ticker name according to Reuters.
OptionsClick Trading Simulator
The OptionsClick trading simulator lets you simulate using three different trading options. Namely High/Low, One Touch, and Range. High Low is basically the classic above or below trading used for binary options. You have the asset, target price, above/below, return on investment, expiry time and date, and status. This can be traded on Forex, stock, commodities, or indices.
All you have to do is select the asset you want to trade and the trading option you want. Then select the High or Low option, depending how you think the moving average line will react. Proceed to enter the amount of money you want to deposit and click the buy button. That’s it – easy as 1,2,3.
Ikkotrader Practice Trade Mode
Using the Ikkotrader demo account mode is very easy and intuitive. Ikkotrader utilizes the SpotOption trading platform software, and is considered to be the leading CYSEC regulated binary options broker for the European markets (specifically the French market), but also accepting US investors. Practice mode doesn’t get any easier, the trading options are already selected for you in pre-populated trading zones. It’s important to notice the options expiry date and time, the rate of investment, the above rate, and below rate. Then you would simply enter the amount you want to risk, select call or put, and click apply. Depending on what payment method you want to select the cashier section of the software is also very easy to use, accepting almost all forms of credit cards as well as moneybookers, western union, webmoney, maestro, and cashu.
Before you even start thinking of developing your own trading strategy and trading tools like candlestick charts and protective puts, opening a demo account at a recommended binary options broker is an absolute must must if you really want to be successful at making money trading binary options online. I highly recommend you try the free trial version for 60 seconds options, and trade commodities, currencies, stock, as well as indices. Usually the most prevalent stock tickers are GOOG and AAPL, but every now and then they have interesting new tickers like FB, MCD, and DBKG.
Opteck Demo Trading Mode
Other binary options brokers with a very good demo accounts are Traderush, OptionBit, and TradeSmarter. The Opteck Demo (see above) mode is also excellent and has a great added functionality. You can slide very easily in the asset windows and choose the one which is best for you. Furthermore, they credit your account with 10,000 free virtual dollars to start trading so you can get a feel for the platform. Feel free to browse the reviews section located on the right panel and choose the broker that’s best for you. Alternatively you can Click Here to open a demo account and start simulating trades.
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