Importance of a binary options demo accounts
We use live market rates and market conform returns to provide you with a similar experience to trading at a leading binary options broker. How many different assets can I trade on your demo platform? Currently we offer around 25 assets. What happens when I run out of demo money? Can I get more? What does a Free Membership include? A free membership to binaryoptionsdemo. This is perfect for those of you that are looking to practice binary options trading, try out strategies or simply to find out if binary options trading is right for you.
From the moment that you signup you will be automatically entered into any binary options competition that we hold meaning that you are eligible to win some great prizes. As a free member you can also follow up to three other traders. Whilst you will receive a notification when someone that you follow places a trade, you will need access to TradeConnect in order to be able to view the full trade details. Can I copy other Traders? If you have access to our TradeConnect feature it is possible to copy other traders.
Please visit the My Brokers page to connect your accounts. Once your accounts are connected you can use the TradeConnect Copy feature to copy trades directly to your broker account. What exactly is TradeConnect? TradeConnect is a great way to learn from the more experienced traders on our platform and you can also use this information to profit by copying trades yourself either manually or with one click at one of our integrated brokers. It is also possible to copy a trade using your demo account, you can do this by clicking on the copy link that appears in the box for every trade made by someone you follow.
What are the benefits of Premium Membership? How do I become a premium member? You become a premium member by purchasing a premium membership to our site. This can be done by clicking the Premium button that appears after logging in to our site.
What trading platform do you use? We developed our own trading platform and created a company called Social Trading Solutions to deal with the software side of things. So just to be be clear, there is no charge for trading as long as I want on your platform? That is correct, we do not charge for the use of our trading platform and anyone is welcome to trade on our demo platform for as long as they would like.
Where can I view a history of all my trades? Your complete trading history is available via the trading area or via the drop down menu under your name at the top of screen. How does your Top Traders feature work? Our Top Traders feature works exactly as the name implies. All trades on our system are registered and our system automatically keeps track of how much profit each trader has made during a specific period of time as well as a range of other variables.
Top Traders are displayed on the homepage of our website as well as on our Top Traders page. Using our premium TradeConnect feature you are also able to follow our top traders or any trader on our platform and view what trades they make in real-time.
There are a number of reasons why the rates for our assets may differ from those of another broker, trading platform, mt4 or TOS. Please note that we update our real-time rate for visual purposes once per second, ie charts and rate are updated once a second. Trades are executed and close based on faster updates. Data Exchanges Unlike equities and indices, Forex rates can differ depending on which exchange the data is being derived from.
Different Data providers use different exchanges. For our Forex data we use xignite. These differences should however not have any effect on trading outcomes as our shortest binary option is of a 30 second duration. Commodity prices can also vary slightly depending on the source of the data that is being used. Binary Options Brokers It is important to be aware that binary options brokers often display the rates that they are willing to sell you the binary option at.
In a lot of cases this is not the real time market rate but a rate that the broker has set. Graphs at binary options brokers may also not reflect the real time market rates but the adjusted rates.
Some brokers may inform you of this only in the fineprint. And even though a broker might say that they are using rates from Reuters, this may mean that they only use Reuters for the expiry rate whilst using adjusted rates for everything else.. Finally there may also be a delay built into the pricing and execution of trades at various binary options brokers. In simple terms most brokers offer these binary options demo accounts practice accounts in order for you to experience binary options trading without having to risk any of your own funds.
The demo account simulates the same conditions, trades and payout as the real market; the only difference is that you are trading with virtual money. Since you are not risking your own funds you will be able to explore a range of different options and binary options trading strategies. However, it is important to treat the virtual funds as your own money; this will ensure you factor in the risks that you are comfortable with.
If you are new to binary trading it can be very easy to get carried away and start initiating trades with bad results. The downside of binary options trading is how easy it is to get started in it. You can start trading with no real knowledge of the market; whilst this can lead to successful trades it frequently does not. This is why the demo account is deemed essential by many traders. Before you start binary options trading for real and risking your own funds you can use the binary options demo account to experience trading.
It is exactly the same as though trading with your own funds. This will allow you to become familiar with the operating system and which types of trades are likely to work.
This approach means that when you come to trade for real you will already know where all the important controls are; instead of focusing on finding your way around you can focus on the trades.
You will also gain valuable trading experience. Perhaps the most important thing to learn is that every second counts. Delaying just a few seconds can change a successful trade into an unsuccessful one.
This is why understanding the basics of binary option trading and knowing the layout is essential. It is also a valuable tool for those who are experienced in binary option trading. As your experience grows you will want to and need to explore new binary options strategies and options.
A demo account will provide you with this opportunity whilst continuing your normal trades and not risking your own funds. Not all binary options brokers offer a demo account facility.