Whether you are new to trading in binary options or not, there are several benefits to using a demo account before you start trading with your money:
Get to know a platform: Learn how to use a broker's trading platform before you use your money, and get used to how to make a trade.
Practice making trades with no risk: Try as many features offered by your chosen broker's platform, as any mistakes you make will not cost you anything.
They are free to use: You do not need to deposit any money to use a demo account, instead you get a set amount of practice money to use.
You can open as many demo accounts as you like, but only one per broker. This comparison shows you which brokers offer a demo account to practice with.
With most demo accounts, you will not be able to make trades once the practice money is gone.
When should you stop using a demo account?
When you feel confident in what you are doing you could open a real account and start trading your money.
This is why it is important to get used to a binary options platform and practice; so you know exactly what you are doing when it comes to risking real money.
If you do not feel ready after using a demo account, you could try another platform to see if you find it better to use.
Use our comparison to find a binary options trading account that lets you use money for real trades.
Binary options demo trading accounts FAQ
Do I need to deposit money into a demo account?
No, you get given a set amount of practice money. You only deposit money when opening a normal trading account.
What is binary options trading?
It is a form of gambling that lets you trade on an asset going up or down in value within a set time. Find out more here.
Can I cancel a binary option trade?
Some brokers offer this option, but you may not get all your money back. Only invest money you can afford to lose when trading in binary options.
Do I pay tax on binary options trading?
No, there is no tax to pay on any profits you make because binary options is a form of gambling.
Is binary options trading regulated?
Yes, by the UK Gambling Commission. Find out how they regulate the binary option market here.
About our binary options demo trading accounts comparison
Who do we include in this comparison?
How do we make money from our comparison?
We have commercial agreements with some of the companies in this comparison and get paid commission if we help you take out one of their products or services. Find out more here.
You do not pay any extra and the deal you get is not affected.