A demo account is an important feature when deciding which Binary Options broker to choose. A binary demo account allows you to test the broker platform without having to risk real money. It also allows you to test your trading strategies in real time.
Many brokers will offer you the opportunity to open a demo account after you make an initial deposit. There are several free binary options demo brokers that allow you to trade with a broker practice account without having to make a deposit. You simply need to sign up for a broker account and request your free demo.
We did a study of the different free demo accounts on the market and graphically displayed the results with 2 graphs. We looked at the following criteria while doing our research. All of the brokers on our list offer a free demo account without having to deposit. Most of the brokers that offer free demo accounts, either limit the funding level in the account and/or the time frame for making demo trades. We rated the brokers based on these criteria. Brokers with higher funding levels and greater time frames are ranked the highest.
The following table lists the brokers based on the Funding Level and Time Limit.
Based on the above data MarketsWorld offers the best demo account in that the Funding Level and Time Limit is unlimited.
We were able to graphically display the best binary options brokers that offer free demo trading accounts and rank them according the highest score.
Our Best Binary Options Brokers with Free Demo Accounts
To take advantage of these free binary options demo accounts open an account at these brokers by clicking on the following.
We created a quadrant which displays the brokers based on the criteria listed above.
As you can see in the quadrant CedarFinance and Markets World offer both highest funding and greatest time frame.
Binary Options Demo Account Advantage
A Binary Options Demo Account is a much greater indicator of trading success than a demo account in any other venue. A demo account with Stock trading or currency trading allows you to get a feel for the trading platform, but is not a real indicator of actual trading results. The reason is that in Stock trading, for example, you actually buy shares of stock in a marketplace. In reality you can’t always get the amount of stock you want at the price you want. Furthermore, your purchase or sale of stock has an effect on the market price. When you use a stock demo account the purchases and sales are just simulations. The computer fills your order much more easily than would be the case in a real marketplace and your fake transactions have no affect on the actual stock price.
Binary Options demo trading is an exact duplicate of real Binary Options trading. Since in real binary trading you do not actually purchase the underlying asset, your demo trading can mimic real trades. The only difference is in demo trading you neither win nor lose real money, whereas in the real trading actual money is being risked.
It is for this reason that it is crucial for anyone interested in Binary Options trading to first utilize a demo account. It will replicate live trading and give you a good idea as to whether you can be profitable or not.