Free UK Binary Options Demo Accounts – Comparison and Reviews

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Broker 2020!
    Perfect For Beginners!
    Free Trading Education!
    Free Demo Account!
    Get Your Sign-up Bonus Now!

  • Binomo
    Binomo

    Good Broker For Experienced Traders!

Contents

Binary Options Demo

The binary options are considered quite risky financial instruments, and trading without at least minimal experience on a demo account would not be a smart thing to do. Fortunately, lots of brokerage sites offer their clients the ability to try trading binary options without mandatory registration.

To gain access to a full-featured demo account in order to get real-world experience and take your first steps to actual real earnings, make a quick check on the broker’s website. In most cases, this will only require your e-mail address.

The demo account is usually available to customers free of charge, although some brokers put restrictions on time of use or the functionality of the demo account can remain very limited. Often, access to the demo account is available only after the first deposit is made.

The demo account is almost the same thing as the real account, but with one distinction – it has a virtual account balance. The demo account still has a live price chart, and this is a very necessary and important option. While working on a demo account, you can trade virtually on the actual binary options market, in the present time. By doing this, you can easily achieve your first valuable experience, exploring the best techniques and strategies, so as to understand the trading platform of your choice and explore its possible faults. Opening a demo account is a simple and free procedure, and you can use it quite indefinitely.

Having accumulated minimal trading experience, feeling ready to start working with real money, do not forget this trade simulator. It is always useful because it gives you the opportunity to apply your trading methods, safely and without risk. When you are confident enough in one or another strategy in demo mode, the time comes to use it for real earnings.

Using Of A Demo Account

Working with a demo account is simple. You just need to find a brokerage company that offers trading in binary options and offers a demo account option to its clients.

Most of the large brokerage firms offer this capability. For example – Binomo or OlympTrade – a perfect choice for the novice trader who wants to gain experience in a comfortable environment.

Binary options trading is relatively simple in comparison with a classical trading, and earlier, most brokers seriously believed that trading on the binary market was possible without any training, but the realities of life took their toll, and brokers have learned a few truths in this kind of trade. Today, trading binary options offers more than three hundred fifty different brokers, and with such tight competition, very few brokers dare to deprive their customers of a demo account’s convenience.

With the use of a demo account, you can easily monitor one or more selected assets. Along with the study of the market situation and the principles on which a binary trading market lives, you may also review the response of assets to the slightest changes to the external market.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Broker 2020!
    Perfect For Beginners!
    Free Trading Education!
    Free Demo Account!
    Get Your Sign-up Bonus Now!

  • Binomo
    Binomo

    Good Broker For Experienced Traders!

The demo account is very useful for the testing of the effectiveness of any strategies and provides a unique opportunity to properly create your own trading methodology. From the development of skills and the final creation of such a system, subsequent testing, and achievement of positive results in demo trading, you can proceed to real trading of binary options.

As is already known, binary options trading is an excellent choice to further increase your income, allowing you to generate earnings at any time of the day or night. With experience in trading binary options, anyone can fit this extremely valuable source of cash replenishment into their own personal budget. In any case, everything has pros and cons. Let’s see how the binary brokers provide their demo accounts to their customers, which may affect beginners in non-ideal ways.

Disadvantages Of Brokers With A Demo Account

To say more precisely – it’s not the fault of the binary brokers and rather the disadvantages of a demo account. Many companies specifically limit the trading opportunities of a demo account so that traders, having understood the principles and foundations of trade, quickly switch to a real account. This is the essence of the problem. Most traders who try to trade on a demo account say that trading binary options does not create flexibility in terms of trade opportunities and tools, time expiration, and other things. Not all of them are aware that they only tried a partial product and then they leave disappointed, not realizing its potential.

The binary brokers like to «manipulate» the interest payments of demo accounts. The result of this is that the interest payments on a demo account are often larger than in real life. This can generate, for a trader, a persistent misconception about how profitable his future trading will be. Accordingly, the rule of money management that the individual trader can use in demo trading is going to work with virtual values, while a real account will have to adapt to the real numbers.

Advantages Of A Demo Account

Undoubtedly, the advantages of binary brokers with a demo account are much greater than the cons. All this is so obvious that we barely need to touch on this topic.

First of all, for any novice trader, it is difficult to make the first move, where often all of your money is at stake. No matter how big the amount is or how important this sum of money is to you. The demo account, in turn, will help even the most timid of beginnings to engage in the trading process, offering a completely safe environment.

As for trading, if you’re reading this, it means you have decided to devote enough time to study the principles of binary options, and it’s the right decision, because diving into something without any preparation, you are unlikely to succeed.

The demo account will be your indispensable asset, and not only when you take the first steps in binary options, but also when you want to try out a new strategy, adding a new indicator or a new trading tool.

Also, do not neglect the fact that some binary brokers allow a client to transfer the net profit earned on a demo account to a real account during his initial deposit. This is quite an interesting proposal that deserves attention, but do not forget that any bonus received from the broker, requires a scroll itself in trading a certain number of times before you can actually withdraw it.

Binary Brokers With A Demo Account

Broker Bonus Min Deposit Payout Review Open Account
Up to 100% deposit $10 Up to 90% Review Visit Broker
$10 Up to 91% * Review Visit Broker
10 USD Review Visit Broker
Up to 100% deposit $10 Up to 90% Review Visit Broker
Up to 100% on deposit $5 Up to 100% Review Visit Broker
3 types of bonuses $10 Review Visit Broker
6 types of bonuses $200 Review Visit Broker

Want to learn how to trade binary options?

We suggest you use this interactive demo to make a virtual investment and feel what it’s like to trade binary options. Be brave – you’re trading in demo mode!

We already described previously how to use the demo account; now look at this in greater detail.

The essence of the demo account is known – it is an account with virtual money where you can get your first experience of trading without fear of losing any real money.

There are some funny cases, when clients, earning in virtual account, are trying to withdraw this amount after trading is done. The tech-support patiently explains that this is impossible; customers get offended and write in the forums about the deception of binary options.

Trading through a broker should be started by trading with virtual money. Do not listen to anyone who says otherwise. At the same time, it is important that the brokers offer a demo account without restrictions and you should not be bothered to use it to the fullest.

Demo Account And A Broker

The demo accounts are available at the most broker companies; however, they often have their own tricks. Demo account use can often be faced with various constraints, such as lack of access to certain assets, shares, or currency pairs, or there is only a limited amount for the transaction, and so on. But in general, the virtual account is not much different from the real one.

A demo account is available after the replenishment of money: these are unacceptable conditions that some brokers give. In this situation, the broker suggests that you receive a demo account only after funding the account with real money.

Binary Options And A Demo Account

The broker’s logic is clear – the customer is actually being hooked up on the platform. But there is no logic for a customer in this. You can recharge your account at any time, but when getting a demo account, we basically need to evaluate the quality of a single platform. And if it is not possible, then, hey, the world is full of other brokers, where a more convenient demo account can be opened without any conditions.

Demo Account Without Registration

This is a proper example of a demo account. No need to register or open a real account to use the demo account. A good example is the Alpari company. You just need to visit this page and their broker platform will be available in an instant.

The main difference between the real and demo accounts lies in the field of psychology. It is convenient to trade on a demo account, because there is no risk of losing your money, and you can really do with it what you want. You can double or triple rates, «flipping», play in Martingale, no restrictions. All of this takes place in a completely secure manner.

It will be an extremely smart idea if you treat a demo account like your real trading. Of course, you do know what real trading goes with real money. But taking it all seriously as the whole process, you set for yourself a reasonable behavior and dim the euphoria of passion, which takes over so many people while trading on a demo account.

Unjustified Excuses Of Brokers About The Lack Of A Demo Account

In our opinion, each broker must have a free, fully functional demo account. The demo is necessary to assess the performance of the selected platform, its strength, and just to get ready to trade. The demo also allows you to learn about the basic functions and potential of a broker.

Some brokers give ridiculous reasons why the demo account cannot be opened immediately. We will describe only some of them.

1. Your trades will be done by our company manager

We know perfectly well that binary brokers earn their money from all trader losses. And the task of these managers – the trader must be at a loss. We generally prefer those brokers where contact with the managers is minimal or none at all, and no one is trying to call us.

2. The demo account is not being used by our traders

The broker should not decide for us what we really need.

3. Make a money deposit, and then we will offer you a demo account

This is nothing more than a cheap attempt to get us hooked up on their platform.
It is bad, very bad.

4. You are better off starting to trade with real money

But we want to evaluate the platform first. And only after that, we might invest our money. We do not need to mention that the demo account often has quite limited functions.

5. We do not offer a demo account, but we have a minimum deposit of only 200 USD

There are lots of binary brokers that give money without testing the terminal of the broker!

6. A demo account has a negative impact on the work of our system

This is the most illogical excuse that you will possibly hear. So this platform is simply not stable? Great that you informed us about this right away.

7. You could carry «trades on paper»

Then the question arises – why do we need you as a broker?

8. A demo account creates an extra load on the servers of our website

Are you serious? Perhaps then, for you as a broker, it is better to buy a normal server for the received money, that, according to statistics, 90% of customers lose here. If the broker does not have money for good technical service, forget it.

9. Leave your phone number and you will be contacted by our manager

It is not necessary to begin our acquaintance with the imposition of a contact with the manager who certainly wants to sell signals, bonuses, and other unwanted trading attributes to us. If you are required to give your phone number, look for another company.

10. The demo account is not available

You can already say at once – Goodbye, have a good day! Always select only those companies that immediately give a demo account with no restrictions.

Proper Use Of A Demo Account

Let’s see how to get maximum benefit from a single demo account. Many see it as a convenient free game and do not use the full potential of it. Despite all of the differences from the real account, the demo’s potential is huge.

You may find on the Internet a lot of different binary strategies, and now is the right time to test them. The money of the demo account is not a factor, and you do not risk anything right now. Therefore, you can safely take advantage of this opportunity. Imagine that virtual money is actually real; tune into it.

For optimum performance with binary options in reality, you need to know quite a lot:

  • Select the correct time frame
  • Select the desired market conditions
  • Determine how much of the transaction amount will be used.

All of this can initially be applied to a demo account, developing your Trading Plan and applying the rules that you will use on the market.

As a result, at the time of opening a real account, you might have dozens of opportunities to test your trading strategies through the demo and make the appropriate adjustments.

Binary Options Trading And Demo

In fact, the demo is being used for testing what has been written in so many books and articles on the Internet, not to mention the numerous videos on YouTube about «successful» trading. Often, the demo account tool is enough to understand that many of these strategies are simply nothing.

Working on a demo account is a good idea to prepare the trader for all possible problems that he will face while trading on the real account. All of these problems are psychological in nature. Therefore, you should try to maximize the feel of a demo account as if it is real.

Do not just play – rather work! After studying the chosen strategy, test its features with technical analysis, repeating it again and again. All of this is possible with a demo account.

Demo Account Versus A Real Account

It is no secret that with a demo account, you can get enviable results. On various forums, you can watch traders spreading screenshots showing «profits» made on demo accounts. Some of them, starting from one virtual thousand reaching up to 200-300 thousand, and then the whole process loses its appeal because of the apparent ease that comes with this process.

In a virtual free game, then, for so many, the demo account has a risk of zero, while the excitement is 100%. You can get the jackpot, not worrying about losing, because there is no real money involved. So, gamblers become accustomed to trading this way as with their old game, and later they carry this dangerous habit into real trading. But this is a different world. The stress and unpredictability upset the player and sobers his mind almost immediately, with the first major real losses.

Free Demo In Binary Options

There are situations when traders, after unsuccessful trading on a real account, get advice to go back to the demo account. Such advice has good sense, but real experience is acquired only through real trading. The demo account certainly eliminates stress factors, however, the forecast can be formed simply by use of a live chart, using a tool like Forecast.

How To Use A Demo Account

It is believed that more than one month spent on a demo account has no effect. This amount of time is quite enough to get used to it, learning the basics of the analysis, understanding the principles, and then applying all of this to a real account.

A few months of use of a demo account is basically a waste of time. The effectiveness of using a demo account falls if the user actually sits too long on it. Often this is due to the indecisiveness about going to the real account, the fear of losing one’s own money, and insecurity in the selected trading system.

Although you do not need to be afraid, the fear will be present anyway. Nobody wants to lose money, and this is natural. However, the trading is the development of discipline and constant work on yourself, so the longer you delay getting off the demo account, the harder it will be to get used to real options trading.

When To Start Trading With Real Money

In general, this is one of the major and actual questions of traders. It is because we all want to start earning money as soon as possible. It is preferable to immediately determine the line where you can safely go to the world of trading – that is, to the real trading account. It should be noted and it is very important that this transition should not be impulsive or take place just because you want to try it.

Starting to work with real money, you want to pass some «test». Of course, it is necessary to establish the positive ratio of winning trades over losses. Do not ever set a task for yourself to win a few trades in a row. Even a successful trader winning three or four times often takes one or two losses, and that’s okay. But if from ten trades you win at least six or seven, you need to think about opening a real trading account.

In addition, a demo account is the practice for managing own financial investments. Everything is clear here. You need a capital increase within time. That is, if today you have 200 virtual dollars, at the end of the week there should be a little more. If you are a successful trader, you’ll quickly realize that the most important thing is not going into the red. A trader who is able to prevent losses, earning 10-20 dollars every week, is much better than the one who spontaneously earns 100 and tomorrow is faced with a loss of 300. When you start practicing on the virtual account, your personal management techniques and the deposited amount will irreversibly show how accurate the investment of funds is and whether the management methods need adjustment.

If you want to open a real account, try for a couple of weeks to increase your balance by at least 20%. Don’t allow the extra funds to replace the losses. The transactions that you make on the principles of «Because I suddenly wanted to» and «Intuitively» must have a positive impact on your virtual balance.

Often, a beginner does not pay attention to the fact that while using the demo account he loses due to rash decisions more often than he wins as a result of planned actions. This tendency must be stopped during the stage of demo practice. This will increase your chances of winning in the future.

By the way, at this stage, select or create your own trading strategy and start to work with it. This is a smarter move than following the principles that were already formed.

The Sum Of The Virtual Deposit

It is no secret that the broker does not care about virtual money, and he will be ready to give you even a couple million. However, it would be reasonable to define the amount of the deposit that you put into a real account. Thus, you can evaluate the pros and cons of trading and learn techniques that will maximize your work effectively with specific volumes.

IQ Option: Top Binary Options Broker

Ever since the US Securities and Exchange Commission approved binary options in 2008, numerous traders have been interested in expanding their investments and exploring binary options trading. And s ince there’s an expanding list of available brokers today, it’s challenging to narrow down your choices to find the one that suits your preferences. With that, we’ve gathered the popular brokers to help you jumpstart your search.

To help you, we provide the lowdown on the top 15 popular binary options brokers of 2020 that you can consider for trading. Hopefully, the list will let you find the best broker for your investment needs and expectations, and start successfully trading on your own.

Binary options trading may have gotten a bad rap because of its all-or-nothing premise, but the high payouts keep traders coming back for more. This is why binary options markets remain strong in various regions around the world, particularly in Asia.

To avoid fraud in binary options trading, choose a trustworthy broker. These brokers can help minimize your losses and provide a measure of security for your funds. Some traders turn to smart contract-based binary options transactions to fortify their deals using blockchain technology.

Each broker also offers different options in terms of minimum deposit, maximum returns, and supported assets. Some brokers even allow traders to use cryptocurrency to fund their accounts or get payouts. The benefits of blockchain and the advantages that global fintech trends exert significant influence on the binary options trade.

To match you with the best binary options broker for your needs, we’ll take you on a tour of the top binary options brokers today. Our analysis of each broker lays out the most important features, including deposits, returns, bonuses, and supported platforms. This way, you can make an informed decision and get the best protection for your funds.

Top 15 Binary Options Brokers

1. IQ Option

IQ Option was established in 2020 and had since then received favorable reviews on the internet. It uses in-house software for trading. The maximum returns are 95%. However, traders in the USA, Australia, Canada, Russia, Belgium, Japan, Turkey, Israel, Iran, Sudan, and Syria are not accepted. IQOption Europe Ltd. is well-known for reliable broker services, as it is regulated by the CySEC.

It provides a wide array of web-based and mobile features that help make binary trading transparent, reliable, and more efficient. For instance, it offers a speed trading service with up to 5-minute increments and hourly binary options in 15-minute increments. It also offers trading expiration periods of up to a month. Moreover, its Digital Options service allows users to trade gold in over 500 assets.

IQ Option

Try out IQ Option with their free trial

This popular binary options tool offers a free demo account to help you get started. The minimum deposit is just $10 for the Real Account. And for the premium VIP account, the minimum deposit is $3,000. Customer support is currently offered via email, phone, and live chat. Finally, this broker offers multiple convenient deposit and withdrawal methods to help you trade easily.

IQ Option Key Features

  • Minimum deposit: $10
  • Minimum trade size: $1
  • Maximum returns: 95%
  • Supported trading platform: proprietary web, Android, iPhone

Detailed IQ Option Review

2. 365Trading

365Trading is registered with the CySEC and based in Cyprus. It was founded in 2020 and has since traded in the EU without issues. It primarily trades in binary options. As of this writing, US traders are not accepted.

The minimum deposit is at $100, with profits and bonuses reaching 85% and 100%, respectively. You can open a demo without deposit and try their long- and short-term expiries.

The platform, an in-house system, is robust and ideal for veteran traders. It features charts, lines, and candlesticks and provides historical analysis, functioning as a business analytics tool. The platform allows you to set up three assets with quick access shortcuts. Likewise, you can trade four assets simultaneously featuring a main window and three sub-windows.

Support is available via email and phone.

Detailed 365Trading Review

365Trading Key Features

  • Minimum deposit: $100
  • Maximum returns: 85%
  • Bonuses: up to 100%
  • Supported trading platform: proprietary, web, Android and iPhone

3. Ayrex

Ayrex is based in the UK and has a pending application with CySEC. It trades in 70 assets and is focused on binary options. As of today, US traders are not accepted.

The minimum deposit is $25, one of the lowest, while the bonus is up to 10%, 20% and 30%, based on the amount of your deposit for Ayrex account holders.

The broker uses a proprietary trading platform featuring instant withdrawals, which is unique in the niche. The interface is neat and lets you quickly jump to different trades. It’s ideal for short-term trading. High/Low options are also available.

Support includes 24/7 live chat and via email. Likewise, the system is accessible from Android and iPhone apps.

Detailed Ayrex Review

Ayrex Key Features

  • Minimum deposit: $25
  • Minimum trade size – $5
  • Maximum returns: up to 85-90%
  • Bonuses: $30 no-deposit new account, up to 30% on the trade
  • Supported trading platform: proprietary, web, Android and iPhone

4. OptionFair

OptionFair was founded in 2020 and is based in Cyprus. It is regulated by the CySEC and is also listed on the London Stock Exchange, a first among binary options brokers. US traders are not accepted. The broker trades in forex, CFDs, and binary options on 118 underlying assets.

The minimum deposit is $100, with returns up to 100%. However, there are no indicated bonuses, but you can always contact support for possible terms. The expiry time is shorter than average but makes for quick returns over short-term trading.

The broker uses its own platform that allows you to shift trading from forex to binary and to CFDs, from a single interface. It gives you access to myriad assets and instruments and a wide range of expiries. You can, in fact, trade simultaneously on forex and binaries. Mobile apps for Android and iPhone are available.

There is phone support in five international numbers, including English, Spanish, Italian, and French. Email and live chat support are likewise provided.

Detailed OptionFair Review

OptionFair Key Features

  • Minimum deposit: $100
  • Maximum returns: 100%
  • Bonuses: none
  • Supported trading platform: proprietary, web, Android and iPhone

5. BinaryTilt

BinaryTilt is an unregulated broker with headquarters in London, England, but is wholly owned by Cyprus-based Depix Holdings. Although it isn’t overseen, the broker seems to have a clean record with rare warnings from authorities. US traders are not accepted. It trades in stocks, indices, forex, and commodities across 150 underlying assets.

The minimum deposit is $250, with profits of up to 85%. Likewise, bonuses can reach 100%. Trading styles include high/low, one-touch, range, and on-demand. The stocks are also mainly US or EU-based companies.

The trading platform is SpotOption, a standard but increasingly old school tool compared to newer platforms today. The UI is familiar, and the elements are organized, good enough for first-timers to kickstart their trading without a hassle. Support is via chat, while Android and iPhone apps are available.

Detailed BinaryTILT Review

BinaryTilt Key Features

  • Minimum deposit: $250
  • Maximum returns: 85%
  • Bonuses: up to 100%
  • Supported trading platform: SpotOption, web-based, Android and iPhone

6. GTOptions

GTOptions is another Cyprus-based binary options broker. It uses the SpotOption trading platform, which is one of the most dependable web-based solutions in the market today. Its interface is smart and easy to use, with color-coded buttons and tabs arranged per type of trade offerings and asset offerings to be traded.

This binary options platform also offers several intuitive tools to help traders achieve better outcomes. For instance, it has a risk management feature that allows traders to cash in on their live trades before contract expirations. Likewise, it has a binary meta mode that supports high-level trading, specifically designed for professional traders.

Finally, the vendor offers 24/7 customer support and provides an extensive library for education and reference purposes.

Detailed GTOptions Review

GTOptions Key Features

  • Minimum deposit: $250
  • Maximum returns: 81%
  • Bonuses: Below $1000 50% bonus, above $1,000 100% bonus
  • Supported trading platform: proprietary, web, Android, and iPhone

7. OneTwoTrade

OneTwoTrade uses the popular web-based SpotOption trading architecture. The company provides the latest technological advancements for the benefit of its clients. OneTwoTrade has won an award for providing an efficient and safe trading platform that is relatively easy to use.

This fully-licensed binary options brokerage firm is headquartered in London. It is also highly regulated by government agencies, such as the Malta Gaming Authority. Moreover, OneTwoTrade is rigidly tested to ensure precision, stability, and quality.

OneTwoTrade offers two trading accounts; one is free, while the other is paid. The latter, called Privilege Plus, offers more benefits to users, including comprehensive market analysis, special promotions, and anytime access to senior account managers. Privilege Plus members also get either an iPhone or iPad that’s equipped with a special mobile trading app.

Detailed OneTwoTrade Review

OneTwoTrade Key Features

  • Minimum deposit: $200
  • Maximum returns: 65% to 85%
  • Bonuses: not specified.
  • Supported trading platform: proprietary, web, Android and iPhone

8. 99Binary

99Binary operates from Anguilla, a British overseas territory in the Caribbean. Started operations in 2020, this binary options trading company serves clients in the US and worldwide. It has a well-designed, comprehensive online portal that offers numerous features, tools, and trading information.

This HTML-based binary trading solution offers users the convenience of a clean, clutter-free dashboard design. Users will appreciate how the site presents data on the latest success trades of other users, which can be easily copied for later use.

Another notable feature of 99Binary is its trading turnover requirement. To cash out bonuses, customers must achieve a particular turnover quota, which goes down for every tier. This is an effective motivation for traders who love bonuses.

Detailed 99Binary Review

99Binary Key Features

  • Minimum deposit: $250
  • Maximum returns: up to 86% on Standard & 60-Seconds, and up to 350% on One Touch
  • Bonuses: To cash out bonuses, Starter level users must reach 30x turnover. For Premium users, 20x turnover is required.
  • Supported trading platform: proprietary, web, Android and iPhone

9. Binary.com

UK-based Binary.com is a licensed broker regulated in the British Isles, Malta, Ireland, and the UK. However, US, Canada, Japan, Hong Kong, and Costa Rica traders are not accepted. It is one of the more transparent companies in the industry that declares its owning company and market operations. Formerly the BetonMarkets, Binary.com blends gambling and trading but with transparency. It offers CFDs, FX margin, and crypto trading via MT5.

You can start the trading time aside from the expiry date, and the investment amount is based on the payout you set. The minimum deposit is $10, and for e-wallets, it’s even lower, at $5.

Bonuses are not standard; rather, they consist of two types–the Deposit Bonus and Free Bonus. Likewise, percentages are not specified, but you are required to have as much as 25 turnovers to avail yourself of a withdrawal. There’s also a 1.5% payout commission.

The broker supports various trading platforms, such as Binary Webtrader, Binary Bot, and Binary Next-Gen. Furthermore, it can personalize client trading needs all under one roof.

Th e platform is intuitive to the first-time trader and robust for the veteran. It features a lot of visual tools like charts and technical indicators, and the tutorials on binary options are comprehensive. Likewise, it supports 12 languages and provides a virtual money account. Mobile apps are available, with a mobile payment system.

Binary.com Key Features

  • Minimum deposit: $5 for e-wallet and $10 for debit and credit cards
  • Maximum returns: 100-1000% depending on contracts and trades
  • Bonuses: not specified
  • Supported trading platform: proprietary web, Android and iPhone

10. eToro

Tel Aviv, Israel-based eToro is a social trading network and not a broker. It allows you to copy the leading traders in its community and, hopefully, realize the same margins. Conversely, your trading can be copied, which earns you additional income.

In this platform, you invest in people, not currencies. You will have to be mindful of other traders’ behaviors and analyze their patterns or strategies, instead of learning financial charts and indicators.

No worries, eToro provides more than 16 lectures and video courses on how to hone your skills. These include identifying consistent traders, not just one-shot deals. You also get a list of the best traders on currencies, indices, and commodities across a wide range of underlying assets.

On the B side, you can share your trading insights and enroll in the Popular Investor Program as a trade authority. While the minimum deposit is $200, the maximum returns vary. The network uses its in-house trading platform with Android and iPhone apps.

eToro Key Features

  • Minimum deposit: $200-$10,000, depending on the country
  • Maximum returns: varies
  • Bonuses: not specified
  • Supported trading platform: proprietary, web, Android and iPhone

11. 24Option

24Option has been online since 2020 and is a stable and reliable broker as it is regulated by the CySEC. It uses the third-party TechFinancials trading platform. Maximum returns are up to 88%. This broker does not accept traders from the US and Australia.

The minimum deposit amount is $250, and the minimum investment amount is $24. Trade types offered are high/low, one touch and no touch, boundary, and 60 seconds.

A demo account is offered for new traders. You can enroll in Standard, Gold, or Platinum account depending on the amount you deposit and the features you want. 24Option provides customer support via phone, live chat, and email in English and 13 other languages.

24Option Key Features

  • Minimum deposit: $100
  • Maximum returns: 88%
  • Bonuses: up to 100%; 25% or $500 (whichever is lowest) for first-time depositors
  • Supported trading platform: TechFinancials web, Android and iPhone

12. ETX Capital

ETX Capital is headquartered in London, UK, and regulated by the British Financial Conduct Authority (FCA). It trades in forex, equities, indices, and commodities, but note that binary options are unregulated by the FCA. Likewise, US traders are not accepted as of this writing.

The broker takes pains in educating newbie traders, explaining in detail binary options, risk trading, and other key topics.

The minimum deposit is $100, with returns between 75% to 85%. Bonuses are not specified but are available. A call to their support should specify a personalized bonus based on your investment. Likewise, withdrawals above $100 are free of charge.

The broker uses MarketPulse as a platform. It is clean and intuitive for beginners with expiry times easy to locate. However, it only supports English.

ETX Capital Key Features

  • Minimum deposit: £200 (around $260)
  • Maximum returns: 100%
  • Bonuses: varies, personalized
  • Supported trading platform: MarketPulse, web, Android, and iPhone

13. CMC Markets

UK-based CMC Markets has been a forex broker since 1989 but only went into binary options in 2020. Still, that’s a long history of trust and reliable operations compared to most binary options brokers. On top of that, it is regulated in the UK.

Today, it trades in indices, commodities, shares, treasuries, and forex, but US clients are not yet accepted. There is no minimum deposit, and there are no bonuses, too. Returns also vary depending on the product.

Meantime, the platform is customizable and includes charting tools, pattern recognition functionality, various screen layouts, and multiple timeframes. The system is accessible from Android and iOS devices. Support is UK-based and consists of live chat, email, phone, and fax.

CMC Market Key Features

  • Minimum deposit: no minimum deposit
  • Maximum returns: up to 95%
  • Bonuses: none
  • Supported trading platform: proprietary web, Android and iPhone

14. EmpireOption

Founded in 2020, Uruguay-based EmpireOption with a registered address in London, England. As with most brokers, US traders are not accepted. The broker trades in forex and CFDs with a diverse underlying investment portfolio.

The minimum investment is $200 and up to 80% maximum returns. Likewise, bonuses can reach 100%, but terms apply.

The trading platform is SpotOption but minus the SpotOption payment network. EmpireOption also uses its own branding interface and maintains control of most of the trading aspects.

Phone and email support are available.

EmpireOption Key Features

  • Minimum deposit: $200
  • Maximum returns: 82%
  • Bonuses: up to 100%
  • Supported trading platform: SpotOption, web, Android, and iPhone

15. BinaryMate

Binarymate is a UK-registered broker that is reliable as it follows the strict financial regulations of the UK. It accepts US traders. This broker uses a unique in-house platform for trading. You can earn a maximum return of 90%.

Trading accounts start with the basic Bronze package for which the minimum deposit is $250, and you get a 20% welcome bonus. For Silver account, the minimum deposit is $1,000, and you get a 50% welcome bonus. Finally, for the premium Gold account, the minimum deposit is $3,000, and you can choose between risk-free trades or a bonus of $250.

A unique customer support feature offered by Binarymate is live video chat with agents who are available 24/7. Support is offered in English, French, Spanish, and Russian. Last but not least, you can use the demo account to learn the ropes or to improve your skills. Before you decide on a broker, though, it’s always best to make a binary options brokers comparison first to make sure you pick the best service.

BinaryMate Key Features

  • Minimum deposit: $250
  • Maximum returns: 90%
  • Bonuses: up to $250, risk-free trades
  • Supported trading platform: proprietary web, Android and iPhone

How to Succeed in Binary Options Trading?

Many people pursue to trade in binary options even though many fail. This is because of the ease of trading, coupled with the high-profit potentials it offers. However, with thousands worldwide continuing to trade in binary options every single day, is it still possible to succeed in this lucrative trade?

A good place to start is to have an authoritative list of today’s top binary options brokers. So that’s now a check. Likewise, make sure you have the appropriate payment gateway providers for seamless payment transactions. Finally, check out these key elements that will help you succeed in binary options trading:

  • Learn how to interpret historical, current, and predicted charts.
  • Test various trading strategies and use one that works for you.
  • Always consider market indicators.
  • Learn to control your emotions, use them to your advantage.
  • Trade by capitalizing on your strengths and follow your signals.
  • Prepare and stick to a personal, long-term trading plan.

Yes, because of the high stakes involved, trading in binary options is really difficult and high-risk. But if you’d take the time to learn the ropes and sustain your commitment to it, it is realistic to succeed in the binary options trade.

Check out our 2020年最受欢迎的15家二元期权经纪商:哪一家是最好的? article for a Chinese version of this article and 15 nhà môi giới quyền chọn nhị phân phổ biến của năm 2020: Ai mới là tốt nhất? is available for the Vietnamese audience. There is also a Korean version available here: 2020년 최고 인기 바이너리 옵션 브로커 15개사, 누가 최고일까?

Best Binary Options Demo Accounts

Binary options are one of the simplest ways to invest in the financial markets. All it takes is a demo account to get started.

Damyan Diamandiev
Contributor, Benzinga

Binary options are one of the simplest ways to invest in the financial markets. It’s a preferred way of trading among investors, especially beginners. However, “easy to do” is not enough to be successful. You’ll need to test your success on a free binary options demo account. If things work out there, then you can switch to trading with real money.

Quick Look: The Best Binary Options Demo Accounts

  • IQoption
  • Binary.com
Table of contents [ Hide ]

What are Binary Options Trading Demo Accounts?

A demo account is a practice trading account which works just the same as a real money account operates. You can test your strategies and success with virtual money on demo accounts. Free binary options demo accounts contain real price moves, so you can check to see if your trading system works without putting your financials at risk.

You’re likely to have access to all available financial assets and all trading tools, just like in a real account, but the “money” in the account is virtual. Also, you can change the amount to adapt to a real-case scenario.

Example: You want to start trading binary options with $5,000 but you are not sure of your strategy.

Solution: You open a free binary options demo account with a broker. You change the virtual amount of money in the account to $5,000. Then you are ready to go same as if you have opened a real binary options account.

Why Use a Demo Account for Binary Options Trading?

The first step you’ll take toward actual trading is to open an actual demo account. There are a few main reasons why you should start by using a demo account.

  • Get used to the interface. Most likely, you’ll open a demo account with the broker you’re considering for real money trading. A demo account with this actual broker will get you used to the interface you’ll use once you’re trading with real money. That way, when you start with real money, you’ll know the functionality of the platform you’ll use.
  • Practice. If you’re a beginner binary options trader, you’ll need to practice the order-opening process. Call and put binary options can be challenging, so play around with the expiration of the options. Learn how to adapt to different situations on the market using news announcements and financial data releases.
  • Test your strategy. Prepare a strategy. To figure out the signals you will use to buy binary options, you’ll need to test and optimize your strategy without risking any money. And you can do this forever until you find out whether your strategy is working.
  • Test your money management skills. You’ll need to trade only small parts of your bankroll to avoid bankruptcy. Let’s say you want to deposit $3,000 for trading. You decide that you want to invest $1,500 in each of your trades. If you fail two times in a row, you will go bankrupt.

Question: How likely are you to fail or go bankrupt?
Answer: Very likely. You can avoid this by putting small parts of your bankroll in each trade, say, 1%. This way, you will need to be wrong 100 times in a row to go bankrupt.

If you trade successfully on a demo account, then you can consider switching to a real money account. Apply the same strategies there and you are likely to get the same results.

What to Look for in a Binary Options Trading Account

Your broker research should start before you open the demo account, and the characteristics to look for are listed below.

Regulated Provider

Be sure to target only regulated brokers. A regulated broker is subject to the law of the country of regulation. After all, you’re giving your money to somebody, and if a dispute arises, you want to make sure that it gets resolved fairly.

Longevity

Most scam brokers get shut down after a year or two. If a broker has existed for many years, it is less likely that this broker is a fraud.

Positive Online Reviews

Check out what people think of the broker you’re considering. Check for ratings, Google the company’s online reviews. Search for something that may trigger an alert.

Number of Tradeable Assets

A good free binary options demo account will have many tradable assets available. You don’t want to practice on an account that offers you only three currency pairs. Look for diversity. Diversified portfolios are the more secure way to go as you count on many institutions.

Friendly Interface

Your trading platform needs to be simple, straightforward and easy to understand. If you don’t feel comfortable with the demo account interface of a broker, change the provider. You won’t want to trade real money when you don’t like a particular interface.

Set of Trading Tools

The trading tools are a must for every good demo account for binary options trading. The more tools available, the better. After all, these tools will help you build your trading approach.

Dedicated Support

All reputable brokers offer dedicated support. Some companies even offer 24/7 support.

Red Flags to Watch Out for in a Binary Options Demo Account

Here are the most common red flags to look for when looking for a binary options broker.

Lack of Regulation

Do you have doubts about the regulation of a broker? Better find another one. Maybe the broker is subject to regulation in a less-developed country, or the regulatory body of that government is at a very low level. How likely is that it resolves a dispute in your favor? How likely is that it has a system for resolving such disputes? If this is the case, then you might want to approach another broker.

Chart Discrepancies

It’s always good to compare the charts of the different brokers. They need to look the same. If one is not the same as the others, then somebody might be manipulating these charts. You need to avoid market manipulation.

Online Money Disputes

Google to see if the broker has open money disputes, a major red flag. If it’s blocking withdrawals, you’re likely to find information about this on the internet.

The Best Binary Options Demo Accounts

Check out these top-notch binary options demo accounts.

2. IQoption

IQoption’s Key Facts

Regulation: CySEC (Cyprus)
Existence: 5 years
Tradable assets: 49; currency, companies, gold
Interface: Very simple and user-friendly
Trading tools: Decent amount
Support: High – 24/7

IQoption’s demo account platform. Source: IQoption

As you see, the IQoption’s platform is pretty simple. Furthermore, it offers a mobile app platform, which is even easier to use. The order execution is good and you can do plenty of trades for seconds.

You can switch between different charts. The default chart you will get is a line chart. But you can switch to a Japanese candlesticks chart a bar chart or a Heikin-Ashi chart. You can also change the colors of the charts.

In the left panel you have few buttons:

  • Total portfolio – shows all your current positions
  • Trading history – contains all your past positions
  • Chat & support – you can chat with the support or in channels with other traders
  • Leader Board – keeps track of the best traders with biggest profits
  • Market analysis – news and analysis from different providers
  • Video tutorials – you can watch all type of informative videos here
  • Help – gives you a hand with administrative and general questions

At the bottom of the chart, you can pick a different time frame. Note that you can also change time frames by scrolling with the mouse.

You can choose between a rich set of trading tools. Some of these are:

Different types of lines:

  • Rays
  • Trends
  • Horizontal and vertical lines
  • Fibonacci levels
  • Moving averages
  • Bollinger Bands
  • RSI
  • MACD
  • Parabolic Sar
  • Alligator Indicator
  • ATR
  • ADX
  • Ichimoku Cloud
  • Momentum Indicator

There are even more indicators on IQoption. Honestly, they are not that much. But still, your technical analysis will be well supported.

2. Binary.com

Binary.com’s Key Facts

Regulation: British Isles, Malta
Existence: In operation since 2000, regulated since 2020
Tradable assets: 57; Currency, indices, commodity, volatility indices
Interface: Very simple and user-friendly
Trading tools: A rich set of indicators
Support: Decent

Binary.com’s demo account platform. Source: Binary.com

The platform of Binary.com is also simple. It consists of two parts, the upper part for trading and the lower part that contains the chart. These two parts might be a bit confusing as it is hard to look at both of them at once. If you zoom out your browser, you will make it work.

You can regulate the chart time frames from the bottom of the chart. You adjust a horizontal scroll, which shows what part of the chart you are covering.

Binary.com is not that rich on resources as IQoption. But they still have the most needed resources available. A disadvantage is that they only have line and dotted charts available. They don’t have Japanese candlesticks or bars, which might limit your analysis.

But on the other hand, they have plenty of indicators – more than 100. They also have chart templates. So, you can very easily save your template and apply it to another chart.

Final Thoughts

Demo accounts are a great solution for testing purposes, but you still need to do your research. Fraudulent brokers exist are only looking for ways to make you deposit funds. Even if you win money, they might not let you withdraw your profits. Follow the steps above to avoid scams, too.

Hire a Pro: Compare Financial Advisors In Your Area

Finding the right financial advisor that fits your needs doesn’t have to be hard. SmartAsset’s free tool matches you with fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is legally bound to act in your best interests. If you’re ready to be matched with local advisors that will help you achieve your financial goals, get started now.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Broker 2020!
    Perfect For Beginners!
    Free Trading Education!
    Free Demo Account!
    Get Your Sign-up Bonus Now!

  • Binomo
    Binomo

    Good Broker For Experienced Traders!

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