Free Demo Account for Binary Options

demo-binary-optionsAccording to the leading analysts’ estimations, over 15 million people worldwide have been trading binary options in 2014. Prognosis is that in the next 3 years this number will double. Binary options attract a lot of unexperienced traders who want to make money, but have very little or no experience at all. For these traders binary brokers have come up with a great solution – free demo accounts. As great as it may sound, you have to remember that there are always 2 sides of the medal. So today I would like to talk about advantages and disadvantages of binary options demo accounts.

Disadvantages of demo accounts

Many brokers will only provide you with limited trading instruments when you trade from demo accounts. It is done so that traders would have an incentive to move on to real accounts while they got the principles of trading. Why I put is as a disadvantage? Because some traders get wrong impression of what binary options trading is and they leave without realizing that they only were provided with limited tools that could have helped them tremendously when trading binary options.

Moreover, some of the brokers would give you higher payouts for in-the-money options then the payouts that they offer on real accounts. This may affect your money management strategy, so when switching from demo account to the real one, check that the payouts are as you expected them to be. If not, check closely how it affects your money management strategy.

Advantages of demo accounts

Indisputably, there are a lot of advantages of free demo accounts that many binary brokers provide nowadays. These advantages are pretty much evident, so let’s just briefly talk about some of the most important ones.

Any beginner (no matter what field we are talking about) will start very carefully and will have to overcome this barrier of making a first step and diving into the whole new world. Free demo account eliminates this indecisiveness. I mean, c’mon it’s free and so exciting, why not to try?!

Talking about trading itself, free demo account gives you an opportunity to practice your skills and new strategies without risking your own money. Once you are ready, you can implement all of this on the real account and earn some money for a new car or a lucrative vacation you have always been dreaming about 😉

Last, but definitely not the least, some of the binary brokers offer you to transfer all the money you managed to earn practicing on demo account to the real account as a bonus on your first deposit. Sounds cool, right? Indeed so! Just keep in mind that there are wagering conditions on any bonus you receive, so check that directly with your broker as all of them have different conditions.

Binary brokers with demo accounts

BrokerConsitionsOpen demo account
iqoption-logo2No deposit needed.www.iqoption.com/demo
binary-logoNo deposit needed.www.binary.com/demo
24options-smallUpon $250 deposit.www.24option.com/demo

*Disclaimer: Trading Binary Options and/or CFDs involves significant risk of loss. CFDs are leveraged products and it is possible to lose more than your initial investment.

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