Experts can get rich with binary. Newcomers, however, need to learn how to practice binary options without losing money. Luckily, there is the perfect tool to help you accomplish your goal. This tool is a binary options demo account.
In this article, How to practice binary options without losing money? you will learn:
- How to use a demo account to practice binary options without losing money,
- Where to find the best demo accounts, and
- How to get your personal demo account.
With this knowledge, you will immediately be able to practice binary options without losing money.
The Guide: How to practice binary options without losing money?
Many new traders doubt that is possible to practice binary options without losing money. On the surface, they are right. Just like anything else, trading binary options takes time to learn, and when you try it for the first time, you will hardly be able to turn a profit from the start.
To save you from having to lose money, binary options brokers have created a tool that can help you to try binary options risk-free: a demo account.
How to use a demo account to practice binary options without losing money
A binary options demo account provides you with all the functions a regular account provides you with. The only difference between both types is that a demo account allows you to trade with play money instead of real money.
When you take your first steps in the world of binary options with a demo account, you will still lose money – but it will be play money, and you do not have to worry about it.
With a demo account, you can practice binary options for as long as you want. Once you are sure that you know what you are doing and that you will be able to turn a profit, you can switch to real money and start earning cash right from the start.
Where can I find the best demo accounts?
Almost all binary options traders offer demo accounts. Allowing you to test their service before you invest a lot of money in it is a request no trustworthy broker can deny.
Consequently, the tough task in not to find a binary options demo, the tough task is to find a good binary options demo. There are too many demos for newcomers to test them all, but there are also some demos that are not that good, either because they are with a bad broker or because they deny you important tools.
To help you overcome this dilemma, we have tested all binary options demo for you and listed the best of them in our top list. If you are looking for a demo you can trust, pick one from our top list, and you will be fine. All demos are free and with great brokers.
How can I get my personal demo account?
To get your demo account with a broker from our list, you simply sign up for the broker’s regular account and ask the customer service to activate your demo. You will then have two accounts: a real-money trading account and a demo account. Ignore the real-money account for now and focus on your demo.
Most brokers require you to make a deposit to activate your account before you can get your demo. There is no need to worry about this requirement. All demos on our list are free, and you can withdraw your full deposit once you are done with your demo.
The only exception to this rule is the IQ Option demo. IQ Option offers their demo as a stand-alone demo, which means that you do not have to get a regular account to use the demo. Simply sign into your demo, and you can start trading.