Many binary options brokers offer binary options demo accounts. A binary options demo or practice account is a trading account which is credited by the broker with fake money that the trader can use to make binary options practice trades. A trader uses the binary options demo account to familiarize himself with the trading platform and to test his trading strategy without risking real money.
(You must provide real phone number to get demo)
Advantage of a Demo Account
Binary options demo account trading has a distinct advantage over other types of financial demo trading in that the trades are exactly the same whether in the demo account or a real account. When trading in an equity, Forex or commodity live trading account the trader buys an underlying asset. That purchase is subject to supply and demand. Sometimes the trade is executed at the desired price and sometimes it isn’t. Furthermore the purchase or sale of the asset by definition has some kind of an effect on market price.
When trading in the demo account a computer program simulates a purchase or sale of the asset. It always gives you execution and since it’s a fake trade it has no effect on the market. In a Binary Options live trade, the trader does not purchase an asset. He simply makes a wager against the broker as to which direction the asset will trade after a certain period. Binary Options trades are identical whether in a live account or a demo account. The only difference is that in the demo account you aren’t trading real money. For this reasons a Binary Option demo account gives the trader a great tool in order to accurately test his trading strategies.
Getting a Demo Account with No Deposit
A truly free binary options demo account is one in which the trader doesn’t have to deposit funds before he can begin to use the demo account. Generally brokers limit these demo accounts, either by giving the trader a set amount of “fake money” to trade or by limiting the amount of time he can use the demo account. Few traders offer this “truly free” demo account. Currently, Market Options offers a free demo account without having to make an initial deposit. Simply register for a free trading account and request your demo account. (You must use a REAL phone number when you sign up in order to quality for free demo).
Sign Up for Exclusive Free Demo Accounts
Simply enter your email and you will gain access to special Demo Account Offers:
Best Binary Options Free Demo Accounts
The following is our recommendation of the most reputable brokers that offer Free Demo Accounts: (When you sign up for account you must provide a REAL phone number so that customer service can contact you).
Mayfair Options: Free Unlimited Demo Account. Click Here to register for MayfairOptions account.
MarketOptions: Free $10,000 No Deposit demo account. Click Here to register for MarketOptions account.
Deposit Based Practice Account
The second, more common type of free demo account, is that which is offered after a trader makes his initial deposit. Some brokers limit these demo accounts as well. RBoptions offers a free demo account after the trader opens a real account and makes a minimum deposit of $250. The RBoptions demo provides $50,000 in practice funds. The trader can use the demo account for as long as he likes without ever having to make live trades. If he is unhappy he can withdraw the initial deposit and move on.
For the full list of all binary brokers offering demo accounts, please click here.