Reasons to Demo Trade Binary Options
Binary options are an alluring way to make money, and there is no denying that they also offer entertainment value. Generally there are two types of people who approach trading of any kind—those who are in it solely for the entertainment value, and those who actually are hoping to make money consistently. If you’re in the latter category, it’s very important for you to try and find a way to demo trade binary options before trading with real money. It can be tempting to skip this step with binary options since a number of brokers have yet to offer a demo platform, but regardless of the broker you choose to trade with live, it’s a good move to test that trading platform or a similar one first.
Which Binary Trading Sites Have Demo Accounts?
The majority of legit binary options trading sites have demo accounts.
The demo accounts are not 100% free, however (except MarketsWorld).
Instead, to get a demo account at the legit brokers, you first have to make a deposit. Here are the legit brokers offering demo binary trading site accounts.
- MarketsWorld.com – a 100% free demo account when you first sign up. Use it as much as you want before making a deposit.
- 24Options – Get $3500 in a demo account with a $500 minimum deposit
- Finmax – top rated broker with high returns
Are there any sites that offer a no deposit demo account?
Other than MarketsWorld, not really. Occasionally one of the above sites will give you a no deposit required demo account if you take the time to really hit their customer service support hard for one and let them know that if you find the trading experience acceptable, you will make a deposit. The thing is that there is a certain cost, albeit somewhat small, for the sites to set up demo accounts for you. They also really want to encourage deposits.
Getting a Free Demo Account – Can I? – There is a way to get a risk free demo account that will not directly cost you money. Your initial deposit will be tied up with the broker until you process a withdrawal, but you can get a free binary trading account like this.
- Create an account at one of the brokers above. I recommend