Binary options traders don’t want just any demo – they want the best free binary options demo account available. These two demos are ideal.
Binary options demo accounts are like cars: there are different types of cars for different purposes, and picking one as the absolute best is impossible. A good track car is useless if you want to do an off road tour and vice versa.
Similarly, there is no one best binary options demo account. There are, however, some demos that are ideal for a specific purpose. By outlining the possible purposes and helping you understand which binary options broker is ideal for each purpose, this article can help you to find the ideal demo for you within minutes.
Which broker offers the best free binary options demo account?
There are three main purposes why binary options brokers get a demo account:
- Newcomers want to try binary options in general.
- Experienced traders want to refine their strategy.
- Traders who are dissatisfied with their current broker want to try other brokers.
Let us take a look at each of these purposes individually.
Purpose 1: Testing binary options in general
Newcomers to the binary options world have to test the basic first. These basics include:
- Can I make money with binary options?
- Which trading style is ideal for me?
- Which binary options type works for me?
- Which time of the day should I trade?
- Which assets can I make the most money with?
If these are the questions you are trying to answer, you need a binary options demo that fulfills three criteria:
- Your demo needs to be investment-free. If you are still unsure whether binary options are right for you, you are probably reluctant to invest money.
- Your demo needs to be with a trustworthy broker. As a newcomer, you might find it difficult to distinguish trustworthy binary options brokers from untrustworthy ones. You need some help to make this choice easy for you.
The ideal broker for this purpose is IQ Option. IQ Option has a number of advantages that make testing binary options easy. These advantages are:
Stand-alone, deposit-free demo
IQ Option is one of the very few binary options brokers that allows you to test their demo without depositing any money. All you need to do to get the IQ Option is follow our link to the IQ Option website, choose to register for the demo, and complete the registration with your Google or Facebook account or your email. The entire process completely risk-free and can easily be completed within 2 minutes.
Compared to this easy process, the overwhelming majority of all other binary options brokers makes testing their demos more difficult. These brokers offer their demos as features to their regular accounts, which means that you need to get a regular trading account to get their demos.
To get a regular trading account, you need to deposit money with the broker, most commonly $250. Since this requirement is a red flag for most newcomers, IQ Option is the best option for them to get a free high-quality demo with a trustworthy binary options broker.
Trustworthy, highly popular broker
For newcomers, it is important to find a trustworthy broker that allows them to get a realistic glimpse of what binary options trading can be like. Newcomers do not yet need to worry about the details and nuances of different brokers, they need to get a feeling for the general idea of binary options trading, allowing them to decide whether or not this type of investing is a good match for their skills.
IQ Options fulfills this criterion perfectly. As a government-regulated binary options broker, IQ Option is 100% trustworthy, and with high profile partners in Formula racing, you can be sure that highly paid lawyers monitor IQ Option’s legitimacy, too.
For newcomers, this is the ideal combination. They know that they get a solid demo broker to take their first steps with, and they know that they have nothing to lose. After a few weeks of testing, they have either found the perfect way to make money or they have had some risk-free fun – either way, they win.
To get the IQ Option demo account, follow the link we provided for you, choose the demo, and sign-up. You will be able to start trading within two minutes.
Purpose 2: Refining your strategy
Experienced traders constantly need to keep refining their strategy. Regardless of how perfect a trading strategy already is, there is always some room for improvement. Unfortunately, changes to a working trading strategy are not guaranteed to increase profits. In the worst case, the changes might ruin the strategy, making it unprofitable.
To avoid losing money while trying to improve their strategy, experienced traders need a demo account. With this demo account, they can test their changes in a risk-free environment, enabling them to only implement changes into their real-money trading that they know will increase their profits.
Experienced traders need a demo to answer question such as:
- Can I increase my profits by trading a different assets?
- In certain situations, can I increase profits by supplementing my high / low options trading with other options types?
- Can I increase my profits by trading shorter time frames or longer time frames?
- If these are the questions you are trying to answer, you need a demo that fulfills these criteria:
- Large selection of assets: To be able to test every possibility, experienced need all types of assets available to them.
- All binary options types: To make the most of every situation, experienced traders need to be able to try every type of binary options with their improvements.
- High account balance: To make investments in the way they would with their real account balance, experienced traders need a demo that provides them with enough play money. $1,000 in play money won’t do, $50,000 would be better.
The ideal demo for these criteria is Banc De Binary. Banc De Binary offers a number of features that are ideal for experienced traders. These features are:
$50,000 in play money
Instead of providing you with $1,000 in play money, as most demos do, Banc De Binary offers their demo customers a whopping $50,000 to test binary options. This increased account balance is ideal for experienced traders because it allows them to test tweaks to their strategy in an environment that is similar to what they used to. Investing $5 per trade and an account balance of $1,000 would be an ill-suited environment for these traders.
Feature demo account
In contrast to IQ Option’s stand-alone demo, Banc De Binary offers their demo as a feature of their regular account. This system is ideal for experienced traders because it allows them to have their demo trading and their real-money trader conveniently in one play.
Instead of having to switch brokers to get to their demo, Banc De Binary’s feature demo allows traders to seamlessly switch between demo and real money trading, allowing them to trade the exact same situation with two different strategies, making the differences between strategies obvious and easy to evaluate.
To get the Banc De Binary demo, click our link, fill out the registration form, and deposit money into your account. Don’t worry: Even though you have to deposit money, your demo is completely free. Once you are done with the demo, you can withdraw your complete deposit if you want, having tested binary options for free.
Purpose 3: Finding a better broker
Of course, if you want to test a specific broker, you should get this broker’s demo. If you have not yet decided on a specific broker yet, however, we can help you narrow down the possibilities significantly. In our top list, you can find the best demos available. We have listed only demos with brokers that are ideal for a long-term career.
All brokers on our list fulfill these criteria:
- High payouts that allow you to make money long term,
- Assets from all over the world and all categories,
- Large variety of binary options traders,
- First-class security measurements,
- Government regulated, 100% trustworthy,
- 100% free demo account available.
If you are looking for a great broker, you can safely register with any of the brokers on our list. Depending on your trading style, one broker might be slightly better for you than another, but with these brokers’ free demos, you can easily find the ideal broker for you.
While there is no single ideal demo for every type of trader, there are a number of demos that provide the high quality demo experience that is ideal for a specific type of trader. Depending on your goals, the IQ Option demo is ideal for newcomers who want to test the water before they invest real money, and the Banc De Binary demo is ideal for experienced traders who want to keep improving their strategy.
For more ideas on great free binary options demo accounts, take a look at our top list.