Binary Options Demo Accounts
Free binary options demo accounts are the best place to start learning how to trade, or to test a new broker without putting real money on the line. Here we list the top binary options demo accounts in October 2024.
Best Binary Options Demo Accounts
These are the top 8 recommended binary options demo accounts:
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1
Pocket Option50% Deposit Bonus
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$50$1MISABinary Options, Currencies, Commodities, Stocks, Indices, CryptosWeb, MT4, MT5Wire Transfer, Credit Card, Bitcoin Payments, Volet, Perfect Money, Visa, Mastercard, Debit Card, WebMoney, FasaPay, Ethereum Payments, Maestro, JetonCash, AirtelUSD -
2
IQCent20% to 200% Deposit Bonus
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$250$0.011:500IFMRRCBinary Options, CFDs, Forex, Indices, Commodities, CryptoOnline Platform, TradingViewCredit Card, Debit Card, Wire Transfer, Bitcoin Payments, Ethereum Payments, Visa, MastercardUSD, EUR -
3
CloseOption$10 Welcome Gift
$5$1National Bank of GeorgiaBinary Options on Forex & CryptosOwnPayPal, WebMoney, Mastercard, Perfect Money, Wire Transfer, Bitcoin Payments, Ethereum PaymentsUSD -
4
Videforex20% to 200% Deposit Bonus
$250$0.011:500Binary Options, CFDs, Forex, Indices, Commodities, CryptoTradingViewSkrill, Perfect Money, Bitcoin Payments, Neteller, Credit Card, Visa, Mastercard, Ethereum PaymentsUSD, EUR, GBP, AUD, RUB -
5
Binarium
$5$1Forex, Stocks, CryptosOwnQIWI, Yandex Money, Bitcoin Payments, Neteller, WebMoney, Wire Transfer, Visa, Mastercard, Credit Card, Debit CardUSD, EUR, AUD, RUB -
6
RaceOption20% - 200% Deposit Bonus
$250$0.011:500Binary Options, CFDsTradingViewCredit Card, Debit Card, Bitcoin Payments, Neteller, Skrill, Perfect Money, Mastercard, Visa, Ethereum PaymentsUSD, EUR, GBP, AUD, RUB -
7
BinaryCent20% - 200% deposit bonus
$250$0.011:500VFSCCFDs, Forex, Stocks, Cryptos, Options, CommoditiesOwnVisa, Mastercard, Debit Card, Credit Card, Skrill, WebMoney, Neteller, Bitcoin Payments, Wire Transfer, Perfect Money, Ethereum PaymentsUSD -
8
World Forex100% Deposit Bonus
$10.01 Lots1:1000SVGFSAForex, CFD Stocks, Metals, Energies, Cryptos, Digital ContractsMT4, MT5Wire Transfer, Debit Card, Credit Card, Visa, Mastercard, Google Wallet, Apple Pay, Perfect Money, Bitcoin Payments, VoletUSD, EUR, RUB
Here is a short summary of why we think each broker belongs in this top list:
- Pocket Option - Pocket Option offers ultra-short-term binaries from 5 seconds on one of the simplest web platforms for beginners. Payouts rival alternatives at 90%+ while the ‘Double Up’ and ‘Rollover’ features provide further opportunities to profit. Considering the negatives, the suite of 130+ assets trails binary brokers like Quotex, which offer 400+.
- IQCent - IQCent offers binary options with above-average payouts up to 98%. The broker supports an online platform with basic analysis tools but a wide range of timeframes, from 1 minute to 1 month, catering to short and long term trading strategies. Considering the negatives, there are no binaries on stocks.
- CloseOption - CloseOption offers binary options trading on 30+ fiat and digital currencies through an easy-to-use web-based platform. 15 contract timeframes are available from 30 seconds to 1 month, suiting both short-term and long-term traders. New users also get a joining gift.
- Videforex - Videforex continues to offer binary options with 20% payouts on crypto and up to 98% on less volatile assets, beating many competitors. A wide range of contract lengths are also supported from 5 seconds up to 1 month. New users will appreciate the welcome deposit bonus.
- Binarium - Binarium is an experienced binary options broker offering access to a range of financial markets with a proprietary, sleek platform. New users can claim a welcome bonus up to $1,500 or practice in the demo account with $10,000.
- RaceOption - RaceOption offers 100+ binaries with decent payouts up to 95% and ultra-fast expiries from 5 seconds. With a $250 minimum deposit, clients can enjoy free deposits, fast withdrawals and a range of trading bonuses.
- BinaryCent - BinaryCent provides binary options trading on a range of markets through a slick proprietary platform. Traders can invest as little as $0.10 per trade and earn payouts up to 95%, and these are excellent terms that accommodate casual and low-capital traders while allowing profit opportunities.
- World Forex - World Forex offers binary options where you simply decide the stake, price direction and contract timeframe. The payouts are high at up to 100% on American contracts and 85% on European, which also offers a partial refund to traders who close contracts before expiry.
Pocket Option
"Pocket Option excels for its easy-to-use web platform which provides a best-in-class user experience for short-term binary traders. The $50 minimum deposit is also accessible for beginners while opening an account is really easy. Looking at the negatives, Pocket Option still trails alternatives in its market offering and regulatory credentials."
Jemma Grist, Reviewer
Pocket Option Quick Facts
| Bonus Offer | 50% Deposit Bonus |
|---|---|
| Minimum Deposit | $50 |
| Payout % | 92% |
| Expiry Times | 5 seconds - 4 hours |
| Copy Trading | Yes |
| Platforms | Web, MT4, MT5 |
| Instruments | Binary Options, Currencies, Commodities, Stocks, Indices, Cryptos |
| Account Currencies | USD |
Pros
- The range of payment methods beats the majority of rivals, providing fast, secure and convenient deposits for traders in most countries
- Well-funded traders who deposit $1000+ can qualify for a 2%+ payout boost, more tradable assets and exclusive perks
- The web platform shines for its straightforward design and usability that will appeal to beginners looking to speculate on popular financial markets in a few clicks
Cons
- Despite offering competitive payouts up to 92%, binary brokers like IQCent offer higher returns up to 98% based on tests
- You need to deposit $1000 to access the extended list of 250+ assets, otherwise just 130+ assets are available
- The maximum binary contract length of 4 hours is restrictive for longer-term trading strategies. Alternatives like Videforex offer binaries up to 1 month
IQCent
"IQCent will appeal to day traders looking for a straightforward binary options and CFD trading platform with low fees, a range of accounts, and copy trading. Getting started takes less than 1 minute and a $250 deposit. "
IQCent Quick Facts
| Bonus Offer | 20% to 200% Deposit Bonus |
|---|---|
| Minimum Deposit | $250 |
| Payout % | 98% |
| Expiry Times | 5 seconds - 1 month |
| Copy Trading | Yes |
| Platforms | Online Platform, TradingView |
| Instruments | Binary Options, CFDs, Forex, Indices, Commodities, Crypto |
| Account Currencies | USD, EUR |
Pros
- The proprietary terminal offers TradingView-powered charts which deliver dozens of technical indicators and studies
- CFD trading fees are competitive based on tests, including 0.7 pips on major forex pairs such as EUR/USD
- The broker offers up to 98% payouts on binary options, which is more than alternatives like Pocket Option, only offering up to 92%
Cons
- The broker is not overseen by a respected regulator, though this is common among binary options firms
- IQCent charges a punitive $10 monthly inactivity fee if you fail to place at least 1 trade per month
- There's no automated trading support for algo traders
CloseOption
"CloseOption is a good pick for traders seeking a user-friendly binary options platform with high payouts and joining bonuses."
CloseOption Quick Facts
| Bonus Offer | $10 Welcome Gift |
|---|---|
| Minimum Deposit | $5 |
| Payout % | 95% |
| Expiry Times | 30 seconds - 1 month |
| Copy Trading | No |
| Platforms | Own |
| Instruments | Binary Options on Forex & Cryptos |
| Account Currencies | USD |
Pros
- Multiple global payment methods are available
- CloseOption offers weekly trading tournaments with cash prizes
- New traders can get started with a $5 minimum deposit
Cons
- Clients need to deposit $50,000+ to qualify for the best payouts
- Binary options are only available on fiat and digital currencies
- CloseOption is not regulated by a well-regarded trading authority
Videforex
"Videforex will serve traders looking for a no-frills, easy-to-use platform to speculate on the direction of popular financial markets through binaries. With a sign-up process that takes a matter of minutes and a web-accessible platform, getting started is a breeze. "
Videforex Quick Facts
| Bonus Offer | 20% to 200% Deposit Bonus |
|---|---|
| Minimum Deposit | $250 |
| Payout % | 98% |
| Expiry Times | 5 seconds - 1 month |
| Copy Trading | Yes |
| Platforms | TradingView |
| Instruments | Binary Options, CFDs, Forex, Indices, Commodities, Crypto |
| Account Currencies | USD, EUR, GBP, AUD, RUB |
Pros
- Traders can earn up to 98% payouts on 100+ assets with the broker’s binary options, bringing it in line with competitors like IQCent.
- Videforex regularly runs trading contests, offering practice opportunities and cash prizes to beginners and experienced traders, with position sizes from just ¢0.01.
- Videforex is one of the few brokers with 24/7 multilingual video support, providing comprehensive assistance for active traders.
Cons
- The absence of any educational tools is a serious drawback for newer traders who can find blogs, videos and live trading sessions at category leaders.
- The client terminal needs improvements based on our latest tests, sporting sometimes slow and unresponsive widgets which could dampen the experience for day traders.
- Videforex lacks authorization from a trusted regulator, meaning traders may receive little to zero safeguards like segregated client accounts.
Binarium
"Binarium has been designed with simplicity in mind, featuring a fast, fully digital sign-up process and an intuitive platform and app with 4 chart types and 12 indicators. With binaries spanning 5 minutes to 3 months, it caters to short- and medium-term traders."
Binarium Quick Facts
| Minimum Deposit | $5 |
|---|---|
| Payout % | 80% |
| Copy Trading | No |
| Platforms | Own |
| Instruments | Forex, Stocks, Cryptos |
| Account Currencies | USD, EUR, AUD, RUB |
Pros
- Binarium has the best education centre we’ve seen amongst binary options brands, complete with information on core topics like trading basics and account options, plus professional video guides to using the platform.
- Binarium claims to segregate client funds with EU banks, meaning traders’ money should not be misused and providing an important layer of protection, which is especially relevant given its offshore status.
- The $10,000 demo account, deposit-doubling welcome bonus, smooth sign-up, and 24/7 support make for an attractive onboarding experience.
Cons
- Despite being operational since 2012, Binarium is an unregulated broker with limited transparency on its website, raising safety concerns and potentially putting your capital at risk.
- Payouts of up to 80% are on the low side of binary options platforms based on our evaluations, which may deter traders looking for the possible best returns, though you can get back up to 15% of losing trades.
- Binarium has some way to go to match the investment offering of binary firms like Quotex, with a particularly weak selection of around 20 currencies and 3 cryptocurrencies.
RaceOption
"RaceOption will appeal to investors looking for a feature-rich binary options trading experience with regular contests, account-based perks, and copy trading. The catch is its unregulated status, with little to zero investor protections available based on our investigations."
RaceOption Quick Facts
| Bonus Offer | 20% - 200% Deposit Bonus |
|---|---|
| Minimum Deposit | $250 |
| Payout % | 95% |
| Expiry Times | 5 seconds - 30 days |
| Copy Trading | Yes |
| Platforms | TradingView |
| Instruments | Binary Options, CFDs |
| Account Currencies | USD, EUR, GBP, AUD, RUB |
Pros
- RaceOption is in the less than 1% of brokers that offers video chat, available 24/7 in multiple languages, although the knowledge of agents about trading and regulatory issues needs improvement from our direct experience.
- RaceOption makes account funding a breeze with fee-free and near-instant deposits via bank cards and cryptos, plus guaranteed withdrawals processing within 1 hour.
- Payouts on popular underlying assets like EUR/USD can reach 95%, beating out most alternatives based on our evaluations, and increasing potential returns, while the first 3 trades are risk-free in Silver and Gold accounts.
Cons
- RaceOption is one of the only brokers not to offer a demo account, which when considered alongside the absence of education, makes this broker a poor choice for beginners.
- RaceOption is an unregulated, high-risk broker that doesn’t provide investor compensation or legal recourse options should you run into trading or withdrawal issues.
- While still affordable for many retail investors, the $250 minimum deposit raises the entry barrier, especially compared to Deriv and World Forex who are designed for budget traders.
BinaryCent
"Traders who want a reliable binary options broker with a streamlined platform and high payouts should try out BinaryCent."
BinaryCent Quick Facts
| Bonus Offer | 20% - 200% deposit bonus |
|---|---|
| Minimum Deposit | $250 |
| Payout % | 95% |
| Expiry Times | 5 seconds - 30 days |
| Copy Trading | Yes |
| Platforms | Own |
| Instruments | CFDs, Forex, Stocks, Cryptos, Options, Commodities |
| Account Currencies | USD |
Pros
- Trade binary contracts from $0.10 allowing trading opportunities for all budgets
- Simple and straightforward proprietary platform for binary options trading
- Accepts a wide range of funding methods, including cryptos and e-wallets
Cons
- Not available to traders based in the US
- The $250 minimum deposit is higher than most binary options brokers
- Not overseen by any reputable regulator, raising risks and reducing customer protections
World Forex
"World Forex provides both highly leveraged CFDs and digital contracts, making this a good broker for clients who want flexible and rewarding ways to trade. The copy trading service will also appeal to newer traders."
World Forex Quick Facts
| Bonus Offer | 100% Deposit Bonus |
|---|---|
| Minimum Deposit | $1 |
| Payout % | 100% |
| Expiry Times | 1 minute - 7 days |
| Copy Trading | Yes |
| Platforms | MT4, MT5 |
| Instruments | Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts |
| Account Currencies | USD, EUR, RUB |
Pros
- Low deposit of $1
- MT4, MT5 and a proprietary trading terminal
- Several different account types with varied pricing structures
Cons
- Withdrawal fees apply
- No negative balance protection
- Weak regulation
How Binary Options Demo Accounts Work
The best binary options brokers offer practice accounts, which allow customers to trade with virtual money and familiarise themselves with different trading platforms.
As with all forms of trading, binary options can be high-risk to the inexperienced investor, so it’s important to get comfortable with how they work before putting your capital on the line.
In many cases, binary options brokers allow users to start trading on a demo account online for free, without registration or deposit. A demo account is simply loaded with a sum of virtual money, which varies depending on the broker.
The trader can use this money to place simulated binary options trades, usually at live market prices. The demo account will typically operate on the same app or platform as the brokers’ live accounts, such as MetaTrader 4 (MT4).
Binary options demo accounts are offered by a wide range of brokers, however, you will need to check which ones are available in your jurisdiction. For example, the rules on trading binary options in Canada may differ to those of the UK, even within a practice account.
Once you have done your due diligence and decided on a broker, you can start enjoying the benefits of a demo account straight away. The best part about a binary options trial solution is that brokers won’t contest losses and more often than not, they will recharge the virtual funds if you run out.
Pros Of Binary Options Demo Accounts
We’ve outlined a few key benefits of trading with a binary options demo account below.
- Ideal for beginners who want to test out the trading platforms and understand how binary options work
- Allows traders to practise trading strategies in a risk-free environment, usually with no time limitations
- Helps users to understand market swings and how to react to them
What To Look For In A Binary Options Broker
Whilst there are many different binary options brokers available, it can be difficult to determine the best one for your individual needs. The guide below covers a few key features to look out for, which should help you choose a demo account to get started with.
Demo Access
As we have already covered, one of the first things to look out for is whether the broker offers a good demo account. Many brokers will let you start trading without registration or with no deposit, which is ideal for those who don’t want to be financially committed to a brokerage to start with.
Markets
Some binary options brokers may focus on offering forex instruments, whilst others will offer a wider range of markets, such as stocks and commodities. This all comes down to personal preference, although the latter will suit those who wish to build a more diverse portfolio. Check the demo solution provides access to all the markets that you are interested in.
Customer Support
Good customer support will ensure that you have a healthier trading experience with your broker. Brokers who offer 24/7 customer support will fit into your schedule and be on-hand to help you through any issues. This is particularly useful for beginners. It also means any technical problems with your demo solution can be resolved.
Mobile App
For those who prefer to trade on-the-go, a free mobile app is an essential feature to look out for. It’s worth checking whether the broker’s demo account is also accessible on the mobile app, as it will provide the flexibility to practise wherever you are before moving to a live account. These are usually free to download from the App Store and/or Google Play.
Strategy Support
Check how much control you have over your demo strategies in the platforms. Ideally, you want to be able to customise the platform to suit your strategy. This could include selecting technical indicators, utilising different charts, and setting up price notifications.
How To Get Started With A Binary Options Demo Account
The initial process may differ depending on the broker, however, the guide below should help you get started with any binary options demo account.
- Firstly, select a broker using our guide above. It’s important to take into consideration how and when you wish to trade, as features will always vary between brokers.
- If the broker allows it, you may be able to start binary options trading on a demo account with no registration and zero deposit. Otherwise, complete the registration process on the broker’s website.
- If required, complete your customer verification. You may need to upload proof of identity and proof of address.
- If absolutely necessary, make a deposit. We would recommend choosing a broker who does not require a deposit in order to use the demo account.
- Start practising in your binary options simulator account.
Final Word On Binary Options Demo Accounts
Binary options are a simple and potentially profitable method of trading. With that said, investing can lead to significant losses for the inexperienced trader. Therefore, it is always important to take advantage of risk-free accounts when available. A demo binary options account allows users to learn about binary options and practise trading without staking real money. Most binary options demo accounts are available without registration or deposit, via an online platform and/or mobile app.
FAQs
Do All Binary Options Brokers Offer Demo Accounts?
Not all binary options brokers offer a demo account. Brokerages usually clearly state on their website if they offer a practice account.
The Binary Options Broker Wants A Deposit First, Will I Lose That Money?
The money will be safe in your live account, as long as you have chosen a trustworthy broker. However, we do recommend that you use a broker that does not require a deposit first.
Are Binary Options Demo Accounts Free?
Yes, demo accounts are free of charge. You do not stake real money and in many cases, a deposit is not required to use a simulator account.
What Happens If My Binary Options Demo Account Runs Out Of Funds?
This depends on the broker. Many brokers will recharge the demo account with more virtual money if you run out. Check individual terms and conditions before you get started.
Are Binary Options Demo Accounts Safe?
Yes, demo accounts are safe. You are not risking real capital when trading on a practice account.