Binary Options Demo Accounts

Would you buy a new car without taking it for a test drive? For many people the answer will be a simple no. And for anyone thinking of taking up options trading, the way to ‘test drive’ a broker is to sign up for a binary options demo.

There are now innumerable options site where you can sign up, but very few of them have a binary options demo available. Of the offering them, many will only allow you to use their demo account facility after you have made your minimum deposit which can be $250 or more. This is a bit like letting someone only letting you test drive a car after you’ve made a down payment.

And, the demo accounts can be very time limited, with some brokers you only have five days with which to get your head around the trading options, tools. And if you are new to trading this is all before you’ve got half an idea of how to develop a trading strategy.

So what is required? A broker with a free trading demo account that does not expire overnight. Zulutrade offer a demo account for both forex and binary options trading, which are left open indefinitely, and you do not need to deposit.

Zulutrade Binary Options Demo

This will allow you to develop and test strategies without having to pay a single penny or cent. It must be noted, that when you change from a demo account to a live one there are ‘transitional issues’. Firstly, there is the psychological difference between betting with virtual and real cash. For example, in demo mode, you may decide to not cash out early (sell) and protect your investment when the trade is going in the wrong direction. In contrast, when you are trading with real money, you may balk at your potential loss and cash out before your trade turns around and hits the payout.

The above is just one consideration when thinking of opening a demo account. The only way you will learn how to deal with these issues is by opening a demo account in the first place. And if you are going to open one, then even if you don’t stay with Zulutrade for the virtual to live transition, at least it will give you a free feel for how the markets move. To open a demo account click here or click the button below.

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