How It Will Help You Find The Ideal Binary Options For You
Different binary options brokers offer different types demos, and each type of demo is perfect for a specific type of trader. To find the right binary options demo for you, you need to know how to classify the different types of demos and which personality matches which type.
This site will clearly show you which broker’s demo account is ideal for you.
Demos differ in two main areas:
- Stand-alone demos vs. feature demos
Some brokers offer their demos as stand-alone accounts. With these brokers, you can get the binary options demo without having to sign up for any other part of their service, making it easy for you to test binary options by signing up only for the demo.
Stand-alone demos have a number of advantages:
- Low investment on your part,
- No need to share credit card information,
- No validation, anonymity.
Combining a low investment with an easy entry, stand-alone demos are ideal for risk-averse traders. Unfortunately, stand-alone demos are rare. In our opinion, IQ Option offers the best stand-alone demo by far – it combines an easy sign up with a completely free demo. To try the IQ Option demo, follow the link we have provided for you. Or you can read more about it here
The alternative to stand-alone demos is feature demos. Feature demos are a feature of a regular trading account, requiring you to sign up with a broker to get the binary option demo, but providing a number of advantages if you are willing to go through the process:
- Feature accounts are easily resettable, allowing you to get a new demo account without having to sign up again, as a stand-alone demo would require you to do.
- Feature accounts allow you to access all the features of a regular account, including the broker’s education center and, depending on the broker’s account system, trading signals, market analyses, and personal coaching.
- Feature accounts allow you to try your new skills in your real money account, enabling a seamless shift from demo to real account.
In the process of getting a feature account, you have to deposit money with a broker. If you do not invest this money, however, you can withdraw it completely once you are done with your demo account, thereby keeping the demo account free for you.
Most brokers that offer demo accounts offer them as a feature account. If you want to get a feature demo, we recommend Banc De Binary, one of the biggest and most renowned binary options brokers, offering a demo worthy of its reputation.
- High account balance vs. low account balance
Your demo account provides you with play money, but how much play money your demo account balance has a great influence on the characteristics of your demo.
Demo accounts that provide you with a low account balance create the conditions that you will encounter at the beginning of your trading career. Therefore, they are ideal for learning how to turn an account balance of $1,000 into a fortune, and how to make good investments with limited money.
This type of demo is also ideal for risk-averse traders. These traders would want to make small investments anyway, and getting a demo account with an account balance of $50,000 would put them too far out of their comfort zone to trade successfully.
If you want to try a demo with a small account balance, we recommend the IQ Option demo. Offering a stand-alone demo, IQ Option is ideal for risk-averse traders that want to test binary options without risking anything.
Alternatively, you can also get a demo with a high account balance. These demos allow you to feel the rush of a professional binary options trader and the thrill of big investments. This type of demo is ideal for two types of traders:
- Traders who already are high rollers: If you are already a trader with a high account balance, you need a demo that reflects your daily trading environment. A demo with $1,000 would do little to help you test new strategies.
- Traders who want to become high rollers: If you want to turn trading binary options into a career, you will eventually need to invest big. A demo with a high account balance can help you find out whether you can deal with the unique mental challenges of this trading style.
- Risky traders: If you want to try a risky investment strategy, you need a bigger cushion than $1,000. Demos with a high account balance allow for that cushion, making them the ideal partner for you.
If you want to get a demo with a high account balance, we recommend Banc De Binary. With an account balance of $50,000, Banc De Binary offers the perfect trading environment for high rollers, risky traders, and those who want to become like them.