Finding the right demo can be confusing. With hundreds of binary options available, the endless number of offers makes it difficult to identify the essential factors.
In this section of our site, you will learn how to find the right demo for you. You will learn:
- What different types of binary options demos exist,
- Which differences really matter,
- Which type of demo is ideal for you, and
- Which broker offers the ideal demo for you.
Choosing a demo: What matters most
In your search for the perfect demo, you should consider two main differences of demos:
1. Feature demo or stand-alone demo?
Feature demos are a feature of a regular account. While these demos require you to deposit money with a broker to get the regular account, this should be no issue for experienced traders. In exchange for the deposit, you get the chance to reset your demo easily by contacting the customer support – an important factor to most experienced traders.
Once you are done with your demo, you can withdraw your deposit, thereby using the demo for free. Banc De Binary currently offers the best feature demo available.
Stand-alone demos are separate accounts. Allowing you to try a demo without having to get a regular account and depositing money, stand-alone demos are ideal for new traders who want to try binary options with as little commitment as possible. Currently, IQ Option offers the best stand-alone demo.
2. High account balance or low account balance?
Some demos provide you with a lot of play money. Banc De Binary, for example, provides you with an account balance of $50,000, which is the perfect environment for experienced traders to trade the high-power style they are used to.
Other demos offer you less play money. IQ Option, for example, provides you with $1,000, which is ideal for new traders to test the environment they would encounter once they enter binary options. Depending on whether you are an experienced trader or a newcomer, you should pick your demo accordingly
Choosing a Demo: How to make the perfect decision
How you should find your perfect demo depends on your experience with binary options. Newcomers and experienced traders have different needs and should follow a different process.
1. Newcomers: pick from our list
If you are new to binary options, you first need to find out the basics. You need to learn whether you have what it takes to become a professional binary options trader, which type of binary options type you like, and whether you can handle the mental challenge of trading binary options.
Therefore, the nuances of different demo accounts are less important to you than make an easy decision and getting a high-quality demo with a trustworthy broker.
Binary options demos differ in almost every little aspect, and there is an almost infinite combination of features, which means that, without help, it is almost impossible to know which is perfect for you. The important insight to making this process easier is to understand that you don’t need to make the perfect decision right, it’s more important to avoid a bad decision.
You are as new to binary options as a baby is to life. Forcing this baby to choose the life, the partner, and the job it wants to have would be a bad idea – the baby has no idea what it likes yet. It needs to discover its preferences, its strengths and weakness in a safe environment first.
We show you the binary options demos that can provide you with such an environment. Don’t stress the details yet, just focus on finding a trustworthy, safe platform for making your first experiences. The rest will come later.
To help you make a quick, easy decision that still leads you to a trustworthy broker, we have created a list of the best binary options brokers in the business. You can safely pick any broker from this list. They all offer free demos, and they are all trustworthy and secure brokers with a long history of satisfied traders.
If you want to simplify your decision-making process even more, we recommend getting the IQ Option demo. The IQ Option demo is ideal for new traders:
- No deposit required,
- Completely free,
- High payouts,
- All binary options types & a good selection of assets,
- Account balance of $1,000, thereby exactly creating the trading environment you will experience once you start trading.
With the IQ Option demo, you can get a feel for the market and your talent as a binary options trader. Once you are familiar with these essential factors, you can still try other demos. For now, the easy availability and the account balance of $1,000 make IQ Option the ideal demo for you.
For more information, we also recommend the article Best broker for binary options demo, our review of the two best demos currently available, IQ Option and Banc De Binary.
Choose this approach to finding your perfect demo if:
- You want to know whether you can make money with binary options at all,
- You want to learn more about your own trading personality.
- You want a high-quality demo with a trustworthy broker.
2. Experienced traders: Read our articles
Experienced traders already know that they have the talent to make money with binary options. They know which binary options type they like and which strategy works for them. Therefore, these traders need a different type of demo.
Experienced traders need a demo that allows them to tweaks their strategy, to expand their trading, and to test new brokers. To find the perfect demo of this type, experienced traders should read our detailed reviews of binary options brokers with demo accounts.
If you are an experienced trader, nuances matter to you, and should get as much information as possible to make a good decision. Our detailed reviews of demo accounts help you to get this information, putting you in the perfect position to know which broker offers the right demo for you.
One hot tip for every experienced trader is the Banc De Binary demo account, which combines all the tools experienced traders crave:
- Account balance of $50,000,
- Easily resettable by contacting customer support,
- Large selection of tradable assets,
- High payouts,
- Secure banking and trading process.
For more highly recommendable binary options demos, check our list of the best demos. All of the demos on our list are trustworthy, safe, and with legitimate brokers, putting you in the perfect position to test new brokers and tweak your strategy.
Choose this approach if:
- You want to test new strategies,
- You want to tweak your current strategy.
- You want to try new brokers to see if it makes sense for you to switch brokers.
This article should have provided you with some ideas for where to start your search for the perfect binary options demo for you. We suggest you follow the links that point you into the direction you want to go.
Most newcomers should try the IQ Options demo, most experienced traders should try the Banc De Binary demo.
For more general information on demo account and how to get started, we recommend these articles: