If you’ve read our article titled The Truth About Binary Options Demo Accounts you know our position regarding the offering of free demo accounts in the binary options industry. If not then basically we believe all brokers should offer them and they should be completely free of charge, as well as being unlimited and not require any initial deposit. Now some binary brokers seem to be catching on and we find this very encouraging. It’s a sign of maturity in an industry that is still in its infancy. To this end we have compiled a small list of binary options brokers that offer free unlimited demo accounts. These brokers, in our opinion are taking a step in the right direction and we hope that they inspire other companies to follow suit. Read on to find out who’s making the changes to their demo account policy we called for in our previous article.
24Option is otherwise one of our favourite binary options brokers, both in terms of its trading platform and its service. Unfortunately while the company does offer a free demo account, it requires both an account to be registered and a deposit to be made. We have included it on the bottom of this list because we believe it is a prime candidate for a much needed change of policy. Changing its demo account policy to not require a deposit, for us at least, would put 24Option at the very top of our recommended broker list. Vote with your cash, inundate them with emails and get them to make that change!
Banc de Binary
Another one of our favs. This company’s demo account is well worth getting hold of because it gives you $50,000 to play with and is also completely unlimited. Unfortunately Banc de Binary also require you to set up an account, make a deposit and then pester their customer service in order to be granted a demo account. We believe this is highly unnecessary, and if they were to change their policy and make their demo account completely free of charge it would bump them up the rankings and also bring them a great deal of new clients. But then that’s just our humble opinion.
Markets World is a broker that feels exactly as we do about binary options demo accounts. They believe that traders should have the opportunity to experience exactly what trading binary options is like before committing any of their own capital. As a result they have instituted a free demo account policy. Their account is available free of charge, for an unlimited period of time and without the need of depositing any money. All you need to do is register with Markets World to have access to your free practice account.
The North American Derivatives Exchange has also not missed a trick here, and also offers its prospective customers a completely free and unlimited demo trading account. Then again Nadex is no joke, they have nothing to hide and don’t need to rope you in in any way, shape or form. They’re Nadex after all! All you have to do is sign up specifically for a free demo account via the “sign up for demo access” portion of their site and you’ll be practicing trading on their platform in no time. The only drawback here is that Nadex only accepts customers from the United States. Which is fine, considering how many binary brokers now do not accept U.S customers.
We’re also delighted to see that GT options are jumping on the no deposit demo account bandwagon. It’s the way forward people, other brokers sit up and take note please. GT options offer a two month demo account to all customers who sign up and then request their account be turned to demo mode. No deposit is required for this service and you can even register with phoney info due to no credit card or address being needed. Fair enough the account is limited to only two months of practice trading but it’s certainly a step in the right direction.
GCI Online Trading
This is for you forex aficionados out there. GCI offer a free demo account with 50,000 dollars play money to start you off. All you have to do is register your information with them and download their software platform, which will be set to demo mode. From there you can practice on it to your heart’s content. And in case you didn’t know GCI also offer trades on Stocks, Commodities and indices.
George Milios is the founder of onlineforextrading.net, the binary options and forex news portal which is dedicated to providing you with all the information you need to successfully trade.