BinaryOptionsNow – Binary Options Demo Accounts have become increasingly popular over the past 2 years and for good reason. As binary option trading continues to top the charts as the most popular new type of online investing, millions of people are interested in signing up for a free demo account so that they can take binary option trading for a “test drive” without making an initial investment.
Accordingly, many of the major binary option trading brokers are now offering increasingly competitive free demo accounts in order to entice potential traders to sign up to trade on their platform. If you are thinking about trying binary option trading for the first time, we strongly suggest that you start by setting up a free demo account first. By practicing first on a free demo account, you will save yourself time, energy and money because you will be able to learn, experiment and master binary option trading by investing with practice money first.
Here is a definitive list of the Top 5 binary option demo account offers from the major option brokers:
With OptionBit.com, creating a demo account is extremely simple: Just sign up and request a demo account from a customer support representative via live chat (or drop them an e-mail) and $500 in virtual money will be instantly credited to your account. This broker is advertised as “the premier option trading platform” with several unique features. Their option trading platform is powered by Tradologic, the same platform that powers other well-known broker sites such as OptionXP (ranked number 3). Moreover, OptionBit offers you the ability to use the ‘Trader Insight” tool which is a unique feature that gives you an at-a-glance summary of how other traders are trading certain assets.
2. GCM Binary
Among other option brokers, GCM Binary stands out as being an ideal place to discover how binary options function since it is a fully regulated options brokerage. GCM – short for Gallant Capital Markets – offers the opportunity to hone your skills at binary option trading by opening a free demo account with a $5,000 balance. The broker allows you to trade standard Above/Below binary options with payouts from 65% – 85% every hour as well as One Touch options with payouts up to 300%. The GCM platform is powered by MarketsPulse, a respected and well established company that creates and operates financial trading platforms. GCM is a licensed and regulated online trading provider operating under British Virgin Islands Financial Security Commission number: SIBA/L/11/0964.
OptionXP is a popular online broker that enables option traders to invest in a range of binary options as well as learn how to buy and sell binary options on their own. The list of assets provided by OptionXP for binary options buying and selling isn’t as expansive as other websites, but is around or slightly below the average. Their choice of foreign exchange options will work for option traders who want to dabble in currency options and contain several unique features, including IN/OUT options.
4. UFX Bank
UFXBank is probably the most customer friendly options brokerage: it offers customer support via online chat, email, and phone. UFXBank even offers live chat support 24 hours a day! This option broker also offers Forex trading training to its clients in addition to daily market analysis in both text and video formats that is helpful for novices. Lastly, UFXBank provides a very large range of assets including more than 80 currency pairs.
5. BO Capital
BO Capital is another option broker that also uses the Tradologic trading platform mentioned above. You can trade binary options on 22 different assets in three different manners – Digital, Touch, and Range binary options. The free binary options demo account gives you $500 that you can use without any risk to yourself. By using this free virtual money, you are not risking any of your own funds so you can feel free to try out new options trading strategies without a problem.
Overall, those less experienced in binary options trading would be best served by starting with OptionBit since they allow for very low minimum deposits and have low spreads as well. This will allow beginners to spend the least amount of money when learning how to trade with real money. The more experienced traders who are interested in depositing slightly larger sums of money may want choose GCMBinary or OptionXP which offer increasingly generous bonus rates for higher deposits.
So while the skills of a binary options trader remain by far the most important factor in the success or failure of his or her investments, it never hurts to take advantage of a free bonus to boost your trading potential whether you’re real beginner or a seasoned binary options veteran.