Top option demo account for binary options
This way, you can experience everything that the broker has to offer before you start risking your hard earned money. There are a few criteria to meet if you want to trade at TopOption, and these are worth looking over before you try their demo account.
The legal requirements state that you must be at least 18 years old, and reside in a country where TopOption can legally operate. Traders in the United States cannot use TopOption. In addition to these rules, we recommend that you have enough expendable money so that whatever you decide to deposit is not a big deal if you lose it.
This is why we recommend using the TopOption demo account before you start trading with real money. Your capital is at risk. If you want to create a demo account at TopOption, the easiest way to do so is to get in touch with their customer support team. They can point you in the right direction as to how to get a demo account started and how to use it.
The only downside to using the TopOption demo trading service is that it is very limited in its scope. A starter account can only use the demo account for 3 days before it expires. Higher tier accounts give you access to demo trading for only 5 days.
While even 3 days is enough for a dedicated trader to learn how to use the TopOption platform, it is certainly not enough time for a new trader to get a good feel for what binary options trading is all about.
As a result of this, we recommend that new traders use caution if this is the first binary options broker they have ever used. If, after your demo account has expired, you decide that this is the right broker for you, then you should start by making the smallest trades that you can. This is where you should start, regardless of how much money you deposited when you first created your account.
You will need to make a deposit to gain access to a demo account. But, the only way to try out their demo account is to make a minimum qualifying deposit.
This will give you the aforementioned 3 days of demo trading. For starters, they offer social trading. The idea behind most demo accounts is that you see the results of your simulated trading activity reflected in your virtual balance. Likewise, if the live account features a returns slider, that slider should work in exactly the same way on the demo as on the real thing. As a novice in this area, you may be weighing up binary options alongside other forms of trading.
As well as reading around the subject, signing up to no-deposit binary options demo accounts can be a useful method of hands-on research. Binary options demo accounts provide a risk-free environment to explore new areas. From indices through to commodities and individual shares, the demo should ideally provide access to all assets available on the live version, giving you scope to experiment. Some brokers provide access to a wealth of educational and instructional resources — suitable for novices and more experienced traders alike.
A range of brokers focus on user education, featuring an introduction programme, a range of seminars and various guides. Likewise, if you are still honing a strategy, a demo account can be invaluable for putting it to the test.
IQ Option will even allow you to back test trading strategies on the demo account or even test robots in real time. Many platform providers claim to be able to keep you in the loop — where ever you are. An alerts system can certainly be invaluable in keeping you up to date with changing market conditions and informing you of new opportunities. So the demo account lets you see just how useful such a service really is — as well as allowing you to test out the mobile-friendliness of the platform.
A growing segment of the demo account picture is for the full trading app experience to be available via a demo account app. The brokers who have taken the time to make this available, are more likely than not to have the better trading platforms — after all, they have gone to the extra effort of making sure as many people as possible see it.
Given the benefits of a demo account, it might be worth paying a deposit, particularly if it is a brand you want to check out — but tread carefully. In some cases, the initial deposit can trigger a bonus, which may impact withdrawal limits. In most cases, a demo account will not require a deposit.
The broker should have enough faith in their platform that you will not look anywhere else after trying theirs. Those that impose restrictions such as needing a deposit, or large amounts of sign up information perhaps do not have as much confidence in their offering. Some brokers will promote competitions and contests among their demo users. These contests come in many guises but often carry real money rewards — another step in hoping traders make the move to real money.
These contests are just another marketing tool for the broker, but offer traders a good incentive to stay active. No deposit is required to enter so there is no risk for the trader — and they can be a lot of fun. A demo account should be a risk-free, no-obligation way of testing a platform.