Do you want the best binary options demo out there? We have reviewed all demos and have listed the best brokers for you, allowing you to make an easy decision on which demo is perfect for you. This article details how we review brokers, teaching you the basics you need to know to find your ideal demo in less than 10 minutes. Welcome to the best binary options demo review site on the Internet.
How we do a binary options demo review
Binary options demos differ greatly from each other. For almost every possible characteristic, there are some demo accounts that do things one way and some demo accounts that do things differently. Most of the differences are minor, but some differences are major, making a demo account perfect for some traders and almost impossible to use for other traders. Additionally, there are security concerns.
To help you make sense of this long list of criteria, we only list brokers that fulfill these requirements:
1. All our demo accounts are free
The easiest way to lessen security concerns is to get something for free. As long as you do not have to pay for your demo account, nobody can scam you out of your money. This why we only list free demos on our site.
Since a free demo account is as much of a given with binary options as a free test drive is a given with car dealers, insisting on a free demo also helps you to pick a trustworthy broker. Only questionable brokers allow you to pay for their demos, but none of them made it on our list.
In addition to decreasing your risk when investing, a free demo account also allows you to test more than one demo simultaneously, to take your time when testing a demo, and to keep your demo for experiments with your strategy once you also start trading with real money.
2. All our demo accounts are with trustworthy brokers
While there are plenty of trustworthy binary options brokers, as in any industry, the binary options world has some black sheep, too. For newcomers to binary options it is often hard to distinguish trustworthy brokers from crooks, so we have made this decision for you.
All of the brokers on our list are 100% trustworthy. They have passed every security check and many traders use them successfully for years.
Of course, since our demos are free, you would not risk anything by signing up with a broker. Nonetheless, we think it is important for you to start your trading career with a broker that could be a good long-term partner once you decide to invest real money, so we only list brokers that fulfill this criterion.
3. All our demo accounts put you in a good position to make money
Even with trustworthy brokers, there are better and there are worse offers. We make sure to only list the offers that put you in the perfect position to enjoy a long, successful trading career. For that purpose, we make sure that all our brokers offer:
- High payouts: The payout defines how much money you make if you win your options. High payouts are essential to making money, and we only list the brokers that offer high enough average payouts for you to grow your capital.
- A good selection of assets: To always find a profitable trading opportunity, you need a good selection of assets that are ideal for binary options. We check whether a broker offers the high-volume, high-volatility assets that fulfill this criterion.
- A good selection of binary options types: There are plenty of different binary options types available. Some are better for risk-averse traders and some are better for risky traders. We make sure that every broker offers a good selection that allows you to make money with binary options.
What we look at in our reviews
In all our reviews, we outline everything you need to know about a broker.
Which type of trader is the demo ideal for?
Some brokers are ideal for risk-averse traders, some are better for risky traders. Depending on the demo’s characteristics, we paint a picture of the ideal trader for the demo, allowing you to compare yourself to this picture, making it easy to decide whether the demo is a good fit for you.
Do you have to deposit money to get a demo?
All of the demos on our list are free. Some demos, however, are a feature of a broker’s regular account, requiring you to deposit money with the broker to get the regular account in order to use the demo. Other demos are stand-alone demos, not requiring you to get a real account and not requiring your deposit.
How do you get the demo?
Once we have established the basic characteristics of a demo, you can decide whether this is the right demo for you. If you decide that it is, we walk you through the process of how to get the demo. In most cases, our instructions allow you to start trading with your demo within 5 minutes or less. In any case, we show you the little things you have to watch out for when getting your demo.
How do you use the demo?
Once you have opened your demo account, we show you how to use it. We teach you the details of the trading platform and walk you through the investment process. When you are finished with our guide, you can start using your demo account, embarking on the learning process that will eventually turn you in a professional binary options trader.
Now that you know how things work around here, it is time to start your journey to binary options success. We recommend you start with the brokers from our list of the best binary options demos and decide which demo is right for you..