5 best Binary Options demo accounts | Free & unlimited
Table of Contents
See the list of the 5 best demo accounts for Binary Options trading:
Broker: | Demo Account: | Review: | Assets & Profit | Advantages: | Account: |
|---|---|---|---|---|---|
1. Quotex.io  | Free $ 10,000 | 100+ markets 95%+ profit per trade possible | + New broker + Crypto payments + Bonuses + Accepts international clients | Start trading:(Risk warning: Your capital can be at risk) | |
2. IQ Option  | Free $ 10,000 | 300+ markets 100% profit per trade possible | + Good platform + Great support + Highest yield + Multiple payment options | Start trading: (Risk warning: Your capital might be at risk.) | |
3. Pocket Option  | Free $ 10,000 | 100+ markets 93% profit per trade possible | + Accepts any clients + Bonus program + Social Trading | Start trading: (Risk warning: Your capital can be at risk) | |
4. Binarium  | Free $ 10,000 | 20+ markets 90% profit per trade possible | + Accepts any clients + Bonus program + No fees | Start trading: (Risk warning: Your capital can be at risk) | |
5. BinaryCent  | Demo account after $ 250 deposit only | 50+ markets 88% profit per trade possible | + Accepts any clients + Bonus program + Trade with cents | Start trading: (Risk warning: Your capital can be at risk) |
(5 / 5)
(4.7 / 5)
(4 / 5)Gaining experience without risking capital was unheard of – that is, until online brokers began offering demo accounts to their customers.
With a demo account, you can test out different trading strategies without any risk. These accounts can be incredibly beneficial for traders of all skill levels.
Another benefit of demo accounts is that you get to test out the broker’s interface. Getting a feel for the interface is a great way to figure out if the broker is right for you.
Using a demo account makes a lot of sense if you’re completely new to trading binary options. If you find risking hard-earned money nerve-racking, we highly recommend creating a demo account and getting accustomed to binary options trading with dummy money.
But which broker offers the best Binary Options demo account?
Finding the right broker can be challenging enough. If you’re looking for a broker that offers a beginner-friendly demo account, discovering and comparing your options may take hours.
While some brokers provide free demo accounts, others require you to deposit some money before you can use the demo account. Shortlisting your best options and sifting through them only becomes more complicated because of this.
So, we did the leg work for you. Here’s a shortlist of some of the industry’s best Binary Options Brokers that offer demo accounts.
- Quotex.io – New innovative platform and accepts every client
- IQ Option – Great trading platform overall
- Pocket Option – Demo trading without registration
- Binarium – Very fast registration
- BinaryCent – Trades with 10 cents possible
1. Quotex.io
Quotex.io is one of the newest options brokers in the industry. The platform launched about two years ago in 2019 but has quickly garnered an excellent reputation among traders.
By November 2020, the firm was licensed and regulated by the International Financial Market Relations Regulation Centre (IFMRRC). It is a subsidiary of Awesomo LTD, a company based out of Seychelles.
While you can open an account with the broker if you’re in the USA, Canada, Hong Kong, or Germany, you will need to deposit money in your account using cryptocurrency.
Demo and live accounts
Quotex.io stood out from the competition during the shortlisting process, and for good reason. The broker gives customer’s access to demo accounts with $ 10,000 in dummy funds.
Also, unlike IQ Option, Quotex.io allows customers to trade all available assets on the platform using the demo account. The interface gives you access to a wide array of trading tools, indicators, and signals. It is one of the most impressive demo accounts that a trader can get their hands on.
If you’re looking to gain experience trading Binary Options quickly, this is the right broker to choose.
That said, demo account users do not have access to the news, the trading tips, and other information that the website provides to paying users.
Live accounts enable access to additional signals and customer support. Live account users also receive promos that can save them money.
But one of the disadvantages of getting a Quotex.io account is that full-time traders and traders with more experience do not get a special tier with lower fees and extra features.
If you trade in large volumes, the lack of discounts and VIP-tiers makes it the wrong broker to sign up with.
On the upside, though, the broker has a low minimum deposit and does not charge its customers any withdrawal fees.
The proprietary platform makes it trading extremely fast and easy. The multiple graphs make viewing data and performing technical analysis a lot easier. The interface integrates nine indicators, all of which can be refined and made more precise.
The 15 drawing tools allow you to develop and read projections, accurately track trends, and make profitable trades.
Customers can also get up to a 30% bonus on their first deposit. Overall, it is one of the best brokers you can sign up with if you need a demo account.
(Risk warning: Your capital can be at risk)
Trading features
While the details of the deposit bonus aren’t available on the homepage, you will be able to get a bonus once you begin the deposit process on the website.
If you’re new to options trading, after you get comfortable with the interface using the demo account, you can start small with your live account since the minimum deposit is only $10.
You can make the deposit using a credit card, eWallet, wire transfer, or using cryptocurrencies. The amount typically appears in your Quotex.io account minutes after transfer.
The amount you withdraw will go to the account you sourced your deposit from. However, you can verify a second source and have the amount transferred there.
Deposits and withdrawals are free; however, you may need to pay fees to vendors for using their mode of payment.
One of the most impressive features of Quotex.io is that it offers over 410 assets for you to trade. Also, if you make just the right trade, you could make up 98% in profits.
Mobile Trading
While there is no Quotex.io mobile app on any platform, users can access their account on the go using the website. The website is optimized for use on mobile phones, so you will be able to monitor assets and make trades with equal ease.
We expect Quotex.io to roll out a mobile application in the near future. For Android it is available.
Customer support
If you need support, you can reach the Quotex.io team right from the website. The easiest way of reaching out to the customer support team is via the live chat option.
You can also fill out a form on the website to open a support ticket or email the team at [email protected].
Other features
The Quotex.io platform is by no means lackluster. You get access to advanced charting features and a wide array of indicators such as Bollinger bands.
The copy trading features help you make profitable trades on auto-pilot, and the trader leaderboards help you keep track of the best on the platform. If you decide to use these features, though, we recommend actively monitoring your trades so you can avoid losses.
(Risk warning: Your capital can be at risk)
2. IQ Option
IQ Option is one of the oldest online brokers on this list. Established in 2013, the company has managed to grow its userbase to 50 million.
What’s more impressive is that IQ Option caters to the niche market of binary options traders. The proprietary platform is highly user-friendly, which is one of the biggest reasons behind its success.
The website and app are available in 13 languages, and IQ Option offers some of the biggest payouts of all binary options firms.
Here’s a quick overview of all of that the broker has to offer.
Demo and live accounts
You can quickly sign up with IP Option for free and use their demo account. No credit card, phone number, or deposit is required.
You are given $ 10,000 in practice funds for free and you can try out all of the assets available on the platform. The rest of the assets that the broker makes available can only be accessed using the live account.
The live account offers over 300 trading assets, and the broker also provides a VIP tier for trading. Every VIP member has a personal manager. VIP members also have the benefit of fast, less than 24-hour withdrawals.
Trading features
As mentioned earlier, big payouts are one of the broker’s most attractive traits. For the majority of the traded assets, IQ Option gives up to 100% profit per successful trade.
It goes without saying that the high-profit percentage is never guaranteed, and how much you make depends on the asset you chose and the expiry time.
The broker only offers two binary options: call/put trades and turbo trades. Call/put trades have a minimum expiry time of 15 minutes, and traders must select if they think the price of the asset will rise or fall by expiry time. On the other hand, turbo trades have an expiry time ranging between 30 seconds and five minutes. It functions similarly to call/put trades.
You can deposit as little as $ 10 and start trading with IQ Option. If you request a withdrawal, you can expect it to get processed in 1 – 3 business days.
(Risk warning: Your capital might be at risk.)
Mobile Trading
IQ Option mobile apps are available on both Google Play Store and the App Store. The broker’s app is one of the best-rated trading apps on both platforms.
The interface is intuitive and great to look at and displays all of the same information as the website. Trading on the go with IQ Option is just as simple as trading on a desktop.
Customer support
You can get in touch with IQ Option’s customer support team in two ways. The easiest way is to contact them over the phone. The team is available to take your calls and resolve your issues 24/7.
Alternatively, you can send them an email about the problem you’re facing. IQ Option’s social media handles continually upload helpful tips about trading, which makes following them on Instagram, Twitter, and YouTube worth it.
While Twitter isn’t officially a support platform, IQ Option does respond to customer tweets and offers solutions quickly. If you’re in a pinch and need a response quickly, tweeting @IQOption is worth a shot.
If you’ve never traded Binary Options before, the content on the website and the tutorials on the IQ Option YouTube channel will help you learn fast.
Other features
One of the best things about the platform is that you get to choose what your chart looks like. Most options brokers do not offer charts at all, and having easy-to-access charts is one of the biggest advantages of using IQ Option.
With IQ Option, you can trade in the forex, CFDs, and also cryptocurrencies. While the platform has plenty of features for experienced traders, novice traders won’t feel overwhelmed by its interface.
The low minimum trade value and the high payouts (in case of correct predictions), coupled with the availability of one-minute trades, make it one of the industry’s most open-ended brokers.
(Risk warning: Your capital might be at risk.)
3. Pocket Option
Pocket Option is also a relatively new broker – the company was established in 2017 when the market for online options brokers was starting to get a lot more crowded.
However, Pocket Option managed to cut through the noise and has enabled over 10 million traders to make profits trading options.
The fact that the IFMRRC regulates Pocket Option makes it a lot more credible and trustworthy. The innovative broker makes over 100 assets available to traders, which means you’ll never run out of opportunities to make a profit.
The uncomplicated and intuitive interface offers a big advantage to new traders, but all of the features the broker offers to make it the right option for traders of all skill levels.
Demo and live accounts
Pocket Option impressed us with its extremely easy sign-up process – you can get access to a demo account with $ 10,000 in a matter of seconds.
After you get a feel for the platform, you can begin trading Binary Options using the live account with as little as $ 50. While you must deposit at least $ 50, you can make trades with amounts as little as $ 1.
With a live account, you will also gain access to cash-back offers, social trading features, trading tournaments, achievements, and a lot more. Live account users also have access to indicators and signals that can help them make better-informed trades.
The website makes the trading process exceedingly simple, but experienced traders will find the charting tools they need to make accurate and profitable trades.
The platform strikes the right balance between features and ease of use, ensuring that both new and experienced traders have an excellent experience.
(Risk warning: Your capital can be at risk)
Trading features
Traders get access to over 100 different trading assets – all the top stocks, indices, commodities, and currencies that offer the most opportunities for profits are available on the platform.
Only high/low options are made available on the platforms, and other types of trades, such as boundary trades, cannot be made using Pocket Option.
However, there is a lot of flexibility when it comes to the expiry time. The high payout levels make it an attractive option to both new and experienced traders. At times, the broker pays a 128% profit to traders.
Bear in mind that the profit you’re paid depends on the asset you’re trading and also the expiry time you set. At a minimum, you will make a 50% profit per trade. However, on most trades, you will earn between 60% and 100%.
Mobile Trading
If you prefer trading on the move, you will be happy to learn that Pocket Option has a user-friendly app available for Android and iOS. An app is also available for Windows, which you can install from the Windows Store.
Regardless of which platform you’re on, your experience with the applications will be great since they’re all well-designed, stable apps.
You can also use the website from your phone’s web browser. On mobile phones, the navigation of the interface is simplified. You only need to navigate through one page before you can access your demo or live account if you go to the site on your phone.
Another excellent feature of the mobile site is that you can use the site in both landscape and portrait mode – without slowing down your phone.
The excellent implementation of both the mobile site and the applications makes it the right broker to sign up with if you want to trade on the move.
Customer support
You can find the emails to all of the company’s departments on the Pocket Option website. This helps the company cut down on resolution time since customers can directly email the department that handles their issue.
Customers can also start a live chat using the button on the website or call the toll-free phone number and speak to a representative about their issue.
In addition to these support options, customers can also use the contact form on the website to report an issue and ask for a resolution.
Pocket Option undoubtedly has some of the best customer support teams of all brokers in the industry.
Other features
The social trading feature is one of Pocket Option’s standout features. It enables you to monitor top traders’ moves and copy them to make profits for yourself.
The feature enables beginners to learn from the best and also make profits with less effort.
But perhaps the most useful tool for trading beginners is the comprehensive Educational Help Section. You can learn almost everything you need to know about trading Binary Options from this section before you get started.
(Risk warning: Your capital can be at risk)
4. Binarium
Binarium is one of the best-established brokers on this list. Operating since 2012, it has a large user base of both beginner and expert options traders.
One of the biggest reasons for the platform’s popularity is that it is built by traders for traders. It has almost every feature a trader will ever need to make a profitable trade.
While Binarium makes trading options effortless on desktop, there is no mobile app available, making trading on the move challenging. Also, Binarium isn’t available to users in the UK.
But it still offers some features that make it worth signing up for.
(Risk warning: Your capital can be at risk)
Demo and live accounts
Signing up on Binarium gives you access to a demo account with $ 10,000 for practicing your strategies and getting accustomed to the interface.
With a live account, as you deposit more and more money, more and more features will begin to unlock for you.
Binarium has four account types outside of demo accounts: basic accounts, premium accounts, business accounts, and VIP accounts. You can get a feel for all four by creating a demo account.
The basic account has a minimum deposit amount of $ 10, and you can make trades for amounts as little as $ 1. With these accounts, withdrawing your funds will take five business days.
Premium accounts are the platform’s most popular account type and require a $ 500 deposit. Besides faster withdrawals that take three days, you also get a personal manager, trading tutorials, and bespoke signals.
Business accounts require a $ 5,000 deposit, and in addition to all of the benefits that basic and premium accounts offer, you will also get access to personalized strategies and plan developments.
VIP accounts are the highest account tier Binarium offers. It requires a $ 10,000 account and unlocks all of the broker’s features and instant withdrawals.
Trading features
Binarium can be considered a better option for more experienced traders since it offers more trading options than other brokers.
Other than high/low trades that every broker on this list supplies, the company also gives traders access to one-touch trades. In these trades, the price of an asset must touch one (or two) set points before the trade expires. These trades are often more profitable than high/low trades.
Binarium also makes 60-second trades available, allowing trades using the platform to make quick returns. While these trades can make you a lot of money fast, they can also empty your accounts quickly.
The payout you get depends on the type of trade and expiry time. Most high/low trades will make you an 80% profit, whereas the one-touch trade can make you up to 800%.
Mobile Trading
As mentioned earlier, Binarium does not have a mobile app. However, the website is excellently optimized for use on phones. The site renders perfectly on all phones and tablets, and the mobile version of the site has all of the same features.
It is worth noting that the live chat box that appears on the desktop site also appears on the mobile version. You can contact customer support at any time.
Customer support
The primary means of contacting the customer support team is the live chat button on the homepage. It is on the bottom-right corner of the screen.
However, you can also choose to reach out to customer support via phone, email, or even Skype.
(Risk warning: Your capital can be at risk)
5. Binarycent
Founded in 2016, Binarycent is another relatively new broker. However, in addition to enabling binary options trading, it also allows forex and CFD trading.
With Binarycent, you can trade when you’re on the move using the easy-to-use mobile app. The web app boasts a sophisticated design, and there are different account types available for different types of traders.
Here’s a quick overview of all the broker has to offer.
(Risk warning: Your capital can be at risk)
Demo and live accounts
You cannot access the demo account for free, and you will need to make a deposit to access the demo account.
Access to features is restricted depending on the amount you deposit to your Binarycent account.
If you deposit $ 250, which is the minimum deposit amount, you will get access to a Bronze account and also a 20% bonus. With a Bronze account, you can withdraw your funds in one hour and connect to the support team via live chat.
To get access to a Silver account, you will need to deposit $ 1000. Silver account users get a 50% bonus, which means you will have $ 1500 to trade when you first create your account. In addition to the Bronze account benefits, you get three risk-free trades, a trading masterclass, and an account manager.
Gold accounts are the top-tier accounts that Binarycent offers. To get access to these, you must deposit $3 000. Gold account traders get a 100% bonus, which means your account will have $6000 for trading. You get all of the benefits of Bronze and Silver accounts.
Trading features
Binarycent pays out between 65% and 85% per successful trade. It’s not the most attractive option in terms of payouts.
However, the broker allows traders to make three different types of trades, increasing the chances of you making a profit.
Turbo trades last between 30 seconds and 15 minutes and are the kind of trades that most experienced traders use. The rapid turnaround time allows beginner traders to get the hang of options trading quickly with the demo account.
Intraday traders have expiry times of over 15 minutes and can last until the end of the day. These are great for those traders that know everything there is to know about an asset and can confidently estimate the price of assets over more extended periods. If you decide to trade intraday, we advise you to practice caution since the movement of the market can be a lot more random over longer periods.
Binarycent also allows long-term trades, which are trades with expiry times as long as five weeks. Long-term trading removes the emotion from the trade – you aren’t tempted to make a decision in haste and study the asset so that you can make a profit over weeks.
Mobile Trading
Mobile trading has become more and more important to people. As a trader, you never know when you will need to make a time-sensitive decision.
If you like taking some time away from the desktop, you will appreciate that Binarycent has an intuitive mobile app available on both the Google Play Store and the App Store on iOS devices.
You can create your account right on the app and start trading. You can also video call the customer support team from the Binarycent trading app.
If you decide to create your Binarycent account from your phone, you will need to complete the account verification process from your phone before you can use the app.
The app keeps track of your transactions, and you can look at your trading history whenever you like.
But perhaps the best thing about the app is that it comes with a chart, and the technical indicators on the chart help you make informed decisions.
Customer support
You can video call the customer support team right from the mobile application. If you’re using the web app on a desktop, you can use the live chat button to get in touch with a customer support agent.
Furthermore, you can reach the customer support team via phone and email too.
Other features
While the broker has a high minimum deposit value, the low minimum trade value and the fast withdrawals make Binarycent stand out.
Binarycent is one of the only brokers that offers all three of the main types of options trades. With Binarycent, you can trade around the clock, including on weekends, and make profits.
(Risk warning: Your capital can be at risk)
How to know if a broker’s demo account is right for you
Now that you’re acquainted with the five best brokers that offer demo accounts, you also need to know how to pick between them. Here are a couple of things you can do to find the right broker:
- Familiarize yourself with the interface and determine which one feels the most natural to you. Make sure you learn to use the charts. If the charting features feel right, you’ve found the right broker.
- Install the mobile app and test out its features. If you intend to trade on the go and never have to look for a setting or feature, the broker is right for you.
- Check out the different assets and try trading as many of them as you can – at least with the demo account. Trying out trading different assets is not only a great way to learn the interface but may also reveal your strengths and weaknesses.
- Look for the various educational tools that the broker offers. If the broker has a knowledge base that is continually updated, and if you find the content useful, the broker will likely continue to help you learn more over time.
Conclusion on the best Binary Options demo accounts:
The important thing to remember when using demo accounts is never to get impatient. You may have days when most of the trades you make using your demo account make you money.
While winning is great, winning a lot one day isn’t an indicator of mastery over-trading. If you come to a point when your trades make you some money on most days, you can consider beginning to trade with real money.
Until then, only use a demo account, keep learning and keep practicing. The more you know, the better you trade.
And now that you know about the best brokers for demo accounts, learning and practicing are all you need to do before you can start making money trading.
(Risk warning: Your capital can be at risk)
FAQ – The most asked questions about Binary Options demo accounts :
Shοuld yοu usе multiplе brοkеrs and why do you need binary options demo account?
The concept οf trading with multiplе brοkеrs is nеw, but fast gaining popularity. Thе advantagеs οf registering fοr thе sеrvicеs οf multiplе οnlinе trading platfοrms arе many. Binary options demo account will help you earn various benefits.
Which is thе bеst binary οptiοns brοkеr fοr a bеginnеr and do you need a binary options demo account?
Tο rеducе trading risks, chοοsе a brοkеr with a low minimum dеpοsit. Yοu will havе timе and a chancе tο undеrstand trading wеll. Thе lοwеst minimum dеpοsit amοunt fοr sοmе brοkеrs is usually 5 dοllars. Sοmеtimеs yοu may find thе brοkеr is οffеring a bοnus. Bе cautiοus tο οnly tο takе thе bοnus aftеr fully undеrstanding thе tеrms and cοnditiοns. Yes, to grasp the opportunity, you need binary options demo account.
Which assеt should I buy in the binary options demo account?
Yοu nееd tο knοw thе assеt yοu wish tο tradе bеfοrе yοu sign up οn any platfοrm. Thе assеt cοuld bе stοcks, currеncy pairs, indicеs, cryptοcurrеnciеs еtc. Еnsurе thе brοkеr yοu chοοsе has thе assеt that yοu want tο tradе.
Is trading binary οptiοns lеgal, and is it good to use the binary options demo account for trading?
It dеpеnds οn thе cοuntry. Cοuntriеs that havе lеgalizеd trading οf binary οptiοns arе Nеw Zеaland, Unitеd Statеs, Unitеd Kingdοm, Japan, Malta, and Cyprus. Yes, you can use binary options demo account for trading.
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Last Updated on January 3, 2024 by Andre Witzel
