However, depending on where you get the demo account, there might be a time limit on its use. Typically, the deposit required demo accounts lasts forever whereas the free (no deposit) binary options demo accounts might expire after a set number of days.As binary options trading grows in popularity, brokers are providing a range of methods to attract new users to their platforms. A binary options demo is offered by a few platforms so users can try out binary options trading with little upfront commitment. It is an interesting concept and, as a trader, it got me thinking about the advantages and disadvantages of setting up a binary options demo account. Here are some of my thoughts on these pros and cons:There are a number of factors to consider when signing up for a practice binary options account. 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Read more to find out. Can I test Binary Option Robot on Demo account No. Our trades only.Demo trading is one of those little known secrets within the world of binary options trading. Its not well known that this is available, yet its really easy to get access to and it can help your trading out a lot. For those of you that do not know, demo trading is the same as regular trading, but with play money. You do it in real time and you do it with the same software platform that you would normally use for your trading. Its a great way to get started with binary options trading and it can give you a big advantage if used right.BrokerDepositUS TradersAccount 250200 250Not a lot of people use this feature simply because it isnt highly advertised. The major brokers really dont need to promote this because they get business without promotion. 24Option (24option) and GTOptions (gtoptions) all have these capabilities, but they also have huge existing client bases that dont ask about demo trading. However, most brokers do offer this, but only a few make it well known. The best way to gain access to this is to simply contact the customer service department. In most cases, you will need to make a qualifying deposit before you can begin to demo trade, but this should still be free. The deposit never needs to be used if you decide not to trade with real money at all. The brokers are not hiding this, they just dont heavily advertise this feature of their sites because it isnt always convenient for them to promote it. Still, a good binary options demo trading session can advance your knowledge, and this will increase the amount of trades you make with the broker, making it in everyones best interest to use this software.Demo accounts within the binary options industry are usually only available for a short timearound three days at the most. With this in mind, please remember that testing long term strategies of any sort with just a demo account is impossible. So why should you even bother Well, theres a lot more to trading than just the long term. Before you even get to that point, you need to focus on stringing together short term gains. This means successful trading, and the best way to accomplish this is a combination of market knowledge and technical proficiency. Think about it: if you know the software well, you are going to be less likely to make an easily avoidable mistake. Mistakes equal lost money, and avoiding them means more profits. A demo account allows you to learn the software well enough in order to avoid these silly mistakes later on in your trading when real money is at stake.Instead of focusing on perfecting a strategy, use demo trading to master the basics. Perhaps you are new to a broker. Figure out as much about that brokers trading platform as you can with the few days you have with your demo account. Learn how to do the 60 second trades and the 30 minute trades. If youre trying a new overall strategy, test out little things that will go along with that strategy. You cant use a demo account indefinitely, but you can use it for simple little things, so do this as best as you are able to.The easiest way to activate a demo account is to just ask your sites customer service department. They will tell you what you need to do to qualify for one. Most likely, you will need to open up and fund a real money account first. This doesnt mean you are paying for demo trading, though. If you dont like the software after trying it out, just withdraw what you deposited and it will be back in your account in less than a week. Odds are, though, if you like the software, you will want to begin trading anyway, so having the money there already is actually a convenience in this sense.Whatever the directions are, customer service will let you know and walk you through them. These will vary a bit from broker to broker, but in the end, you will have a few days to trade with all of the tools that the site offers, but with absolutely zero risk.
