Finding the right binary options demo account Australia can be difficult because Australian binary options traders face unique challenges. With a country that is its own continent, Australia is far from the main binary options trading centers. This unique situation has two main implications:
- Australian traders are less familiar with many of the assets binary options brokers offer.
- Due to their different time zone, it is difficult for Australian traders to invest in European or American stocks.
Luckily none of these implications has to be a disadvantage for Australian traders. With the right demo, you can quickly get yourself in a position where you can make money with binary options.
Binary options demo account Australia: What you need to know
To make the best of their unique challenges, Australian traders need a binary options demo that offers many currencies, commodities, and Asian stocks. Let’s take a closer look at these requirements, to help you understand the reasoning behind them and how to make the most of them.
1. Choose a demo that offers many currencies and commodities
For traders from Australia, a demo that offers many currency pairs and commodities can make finding trading opportunities easier.
Compared to stocks and indices, currencies and commodities have the advantage of being traded continuously from Monday to Friday. Stocks and indices, on the other hand, are only available while their home stock exchange is open for trading, which is only eight hours per day. For traders from Australia, the big time difference with Europe and America makes it difficult to trade stocks during this time – it might involve getting up in the middle of the night.
Currencies and commodities, on the other hand, make things easy. They are available for 24 hours a day, which allows you always to find a trading opportunity.
To make money with a strategy focusing on currencies and commodities, you need a demo that offers you a large number of tradable currencies and commodities, allowing you always to find a high-potential trading opportunity.
An ideal demo account for this type is Banc De Binary. Banc De Binary offers a long list of assets, putting Australian traders in the perfect position to make money with binary options. With their free demo, you can try Banc De Binary risk-free.
2. Choose a broker that offers Asian stocks
As we pointed out, it is difficult for Australian traders to trade European and American stocks and indices. Asian stocks, however, are much easier to trade. Stocks from Hong Kong, China, and Japan are ideal to provide Asian traders with a number of trading opportunities throughout the day.
While most binary options demo accounts offer fewer stocks from Asia than from Europe and America, making it necessary for Australian traders also to invest in commodities and currencies, some brokers offer a nice selection of Asian and Australian assets.
Most prominently, stocks such as Baidu, Toyota, and Samsung and indices from China, Hong Kong, and Japan provide Australian traders with timely trading opportunities for high-profile, high-volume stocks, making a stock-based trading strategy possible.
One broker that offers a nice selection of Asian assets is 24option. With the high-quality 24option demo, you can try their service risk-free.
Due to their unique geographical position, Australian traders need to find assets that are easily tradeable in their time zone. With European and American stocks and indices, this can be challenging, making it necessary for Australian traders to choose a demo that offers many currencies, commodities, and Asian stocks.