The most practical use of binary demo
For all new traders it's strongly recommended first to pass the demo version of the chosen broker. The demo accounts deliver the best way to understand the trading and see how the broker works.
What is the best practice?
After you have already made a decision where to trade, the next step is to check if there is a demo version. With some brokers, it's available without the need of registration but in some cases it's necessary to open an account and request demo money.
When you have the access to any of the above mentioned ways, it's good to trade at least 2 weeks, 10 business days, to find out how everything is going on and only after that consider to make your real deposit. This is very important and you need to take out the advice very seriously.
For this period of time, if you spend around 3 hours a day, it's normal to understand everything in depth and know exactly what happens on the market.
What you can see in a demo account:
- Available trading types
- How the platform works
- How the navigation works
- What is the way to contact the support team
- What is the payout
- How is organized the whole process of placing a trade
- How much money you can earn from every asset and trading
All of these things are good because that's the important part of real money trading. You can build a small history of your trades, if it's not available in the demo trading account.
If you need more time to trade with the demo version that is also ok and you need only to check out what is the limit of demo trades allowed by the broker. With some brokers we see the demo is available for 1- 3 days, but with others it is not limited at all.
If you need a demo account and you are not sure which one to choose, please contact us and we will provide you with the most suitable options for you.