Binary Options Demo
Binary Options Demo
If you’re new to the binary options trading world, there are two things you are probably searching for as you begin looking into brokers. The first is likely a cheap binary options broker who offers a low minimum deposit. The second is usually a binary options demo or test account of some sort that will allow you to get a feel for the trading platform before you actually begin.
Not to burst your bubble but binary options aren’t like new cars. There aren’t a whole lot of brokers who will happily let you test drive the account before you commit. The vast majority of brokers in the industry don’t offer a binary options demo but if you look closely or simply read a little further, we’ll give you a couple of broker names who actually will let you get acquainted with a binary options demo account.
First thought, let’s look at the reasons as to why you’re not seeing a binary options demo account offered to every new trader at every single brokerage account. It’s a simple reason though many people fail to understand it. A binary options demo account is rare because the brokers know that trading binary options and any financial instrument for that matter is a difficult thing to do. The brokers, understand that when people are given demo funds or ‘play money’, they tend to treat it differently than their own funds. This leads to risky trading and risky trading without much thought or strategy leads to unsuccessful trades. Then what the brokers have is a person who just lost all of their demo funds accusing them of being a scam, logging off and never returning. Well, there is no scam. That trader simply had no clue what he or she was doing, tossed away all their bonus funds and because they don’t understand what they did wrong or more importantly, how trading works, they go straight to the finger pointing and log off for good. The brokers know this and a binary options demo is hard to come by for this reason.
Binary Options Demo – The Brokers
One of the larger and more established brokers who currently offers a binary options demo account to new customers is OptionTime. This broker offers the best no-strings-attached binary options demo account we’ve come across. Not only that but when you get to the point where you want to trade with real capital, they are also the lowest minimum deposit broker online, letting you get started with just $100. With that said, skipping the whole binary options demo account altogether has been a popular choice as many people would rather just start low with $20 so that they can actually withdraw the profits they make that they wouldn’t be able to do with a demo account. Check them out below to get started with a demo account or if you’d rather get started with $100, the choice is yours!