Binary Options Demo Account ¦ Practice Binary Trading South Africa

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Options Broker 2020!
    Perfect For Beginners!
    Free Trading Education, Free Demo Account!
    Get Your Sing-Up Bonus Now!

  • Binomo
    Binomo

    Good Broker. Only For Experienced Traders!

Demo Account in Binary Options

Binary options trading is often referred to as the easiest and most simple way of trading in financial markets. Still, everyone who has any knowledge of it will explain to you how it is not all as easy as it seems. Some traders believe how binary trading is only a fun game you can play with a little extra money you have, but in fact, it is a type of financial trading that contains risk, as well as the possibility of future profit.

Binary options demo accounts can help you learn more about binary options and get familiar with the trading platform. In this article, you will find out more about different types of binary options demo accounts and learn how to use them for your own benefit.

What is Binary Trading Demo Account?

Demo account is a type of account that is based on the same type of platform but doesn’t allow any deposits. All traders get an equal amount of virtual money they can use for trading. The platform is exactly the same as a real trading platform and usually contains the same charts, tools, assets, and indicators.

The main difference is that demo account trading carries no risk. You can’t lose money while trading on a binary demo account as the money is not real. This also means that you can’t make any real profit either. But you can learn about the broker and binary trading which will help you in the future.

Binary Demo Account Types Revealed

Not all demo accounts are made the same. The difference is not only in the technological background and virtual amount that is given to you but also in the very basic approach.

There are two main demo account types:

  • Demo accounts available after deposit. The trader has to make a deposit, usually in the amount of $250 in order to get access to the demo trading. Sometimes demo account requires an even higher deposit and is part of more exclusive service packages.
  • Free demo accounts. These accounts are deposit-free. You can open a demo account and make a deposit later, in case you are happy with the platform and the broker.

Why are Demo Accounts Important?

Demo accounts let you know what binary trading looks like before you try the real deal. You don’t make any risk, and you don’t make any profit, but you are still making progress in your trading styles.

Think of binary trading as of a college exam – would you rather take and exam without prior studying, or would you rather get familiar with the course?

Of course, there are better and worse binary options accounts, and the price is not the one that determines the quality of it. The good demo account will provide you with a reasonable amount of virtual money for practice trading. Usually, that amount is around $1,000. This way you can really experience what the trading looks like. If you get $2,000,000 virtual money, you won’t be trading in real conditions as that is an amount you will probably never have on your trading account. You will trade more recklessly and learn a lot less.

How to Select a Good Demo Account?

Good news for traders! Good brokers usually have a good demo account, so demo account per se should never be the most important factor. Demo account is worth nothing without appropriate support and a broker that offers you good real trading experience. Binary trading is a complex mixture of several elements that make the perfect combination only when all added together.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Options Broker 2020!
    Perfect For Beginners!
    Free Trading Education, Free Demo Account!
    Get Your Sing-Up Bonus Now!

  • Binomo
    Binomo

    Good Broker. Only For Experienced Traders!

Binary demo account is definitely one of them. Unfortunately, less and less binary brokers are offering demo trading accounts as they request complicated and advanced technological support by means of servers and human power. Some smaller brokers simply can’t afford demo trading accounts.

However, one of the most popular brokers on the market – IQ Option has a demo account that is available to all traders who decide to join. You can open it in several easy steps and start testing the platform. IQ Option demo trading platform is no different than the real trading platform and contains all important elements that traders use while trading. After you have tested the platform, you can simply decide to make a deposit with IQ Option.

If you have an opportunity, definitely try the demo account, whether you are a professional or a beginner, as it tells a lot about the broker and gives you an insight into what the trading process might look like in the future. Don’t hesitate to test it and use it as a real trading account as this is the best way to find out all the holes in your knowledge about binary options trading. Make sure to find the right broker as well, as a good binary broker and good demo are the perfect combination!

No Deposit Binary Options South Africa

Most of South Africans are interested to sign-up with low deposit or no deposit binary options South Africa brokers and start investing in binary options on regular basis. Regulated brokers understand the needs of traders and offer them no deposit demo accounts and welcome bonuses.

Live trading prices depend upon the values at which trading options are acquired. No deposit accounts are suitable for beginners as well as skilled traders so that they can get advantage of valuable trading tools.

Low Deposit Binary Options South Africa

Do All Traders Need No Deposit Binary Accounts?

By our point of view, it is recommended for traders to use demo account before making an investment in real accounts. It offers a ground for evaluating strategies and selecting ones that are capable of performing well in real trading conditions. There is handful of no deposit binary options South Africa trading platforms.

Demo account or practice account provides more authentic and safer way to test out binary trading. The only difference is based on the use of virtual and real money; however, all the other functions and features are same. Demo account traders do not need to pay any charges as these accounts are completely free.

Dissimilar to real accounts, demo accounts traders do not receive any turnover or have to fear of loss. Practice can make the beginners expert, thus it is favorable to begin with a demo account.

Advantages of No Deposit Binary Options South Africa

For an interested trader in binaries, no deposit trading platform can give various benefits.

First of all, trading platform allows analyzing the essentials of online binary trading without losing traders’ own money. In other words, selection of trading environment gives surety that the available funds will be used for practice.

Moreover, traders are not persuaded to deposit money in order to get profit. In case some of the trades end successfully, traders are awarded with an additional bonus. This feature is similar to demo account trading.

On demo accounts, traders in South Africa can get experience and learn some of the significant concepts like trade conditions, fundamental analysis and risk management. As compared to demo account, when real money is used the users become more cautious while selecting Put/Call options.

Another advantage of no deposit binary options South Africa bonus is growing the capital on gradual basis. It means the traders are not restricted to trade with the available funds right away.

Thus take your time and get an idea of binary market conditions and begin trade when you are certain that binary trade will expire in-the-money. It is a low risk strategy that will help in gaining serious profit.

It does not matter whether binary options traders are in search of low or no deposit binary options South Africa, the trading industry provides exactly what traders are looking for. Check the terms and conditions of top rated brokers and always opt to register account where traders are given low risk investment options.

That is why; traders are suggested to select South Africa trading sites where low deposit, minimum investment and demo account features and easy to withdraw options are provided to enjoy stress-free trading.

How to Trade Binary Options as a Beginner?

Binary trading requires basic knowledge, patience and common sense. In this article we guide South African traders through all the steps necessary to place a successful trade in binary options.

As always, we recommend trading only with regulated and trusted brokers such as IQ Option for added benefits such as a free demo account, $10 minimum deposit and only $1 minimum investment. For more brokers, see our broker page. Let’s get started.

What Are Binary Options?

Binary options are nothing else but a prediction of an asset’s price direction in a prespecified amount of time. The price doesn’t have to go too high or too low for traders to make a profit. All they need to do is predict whether the closing price will go higher or lower than the opening price as shown in the figure above.

If the price stays the same, then traders receive their investment back. If the trader predicts correctly, then the profit made can go up to 91% depending on the broker and the asset. On the other hand, if the prediction is wrong, then the trader loses the investment.

Example of a Binary Options Trade

Step 1: Register with a trusted binary broker

Registering with most binary brokers takes only few seconds. All you need to do is fill in the boxes with your email and a password. You also have the option to continue with your Facebook or Google account or simply fill in your personal details like name and surname.

Step 2: Practice with the free binary options demo account

Practice binary trading with a free demo account available to South Africans, before switching to a live account in order to get familiar with the binary trading platform. In this section there is a detailed explanation on how to place a successful trade with the legendary IQ Option platform. Once you feel ready you can switch to live binary trading which is done exactly in the same way as explained here.

Select Asset

To start with, traders need to select their asset from the drop-down menu as shown here. A large selection is available as always by IQ Option.

Set the investment amount

Then, set the investment amount as shown below by clicking on the amount box at the right-hand side of the trading platform. This can be as low as $1 so that novices can start trading with a low investment capital.

Set the expiry time for the binary option

Once the investment amount is set, traders need to select the expiration time. There are binary options available from 60 seconds to the end of the month as shown below. You can even see that the profit percentage changes according to the expiration time. Longer expiration times will offer lower returns.

Once you choose the option’s expiration time then, you can place as many binary trades as you wish.

Choose the direction you expect for the price in the future (Higher or Lower)

This can be done by choosing the price direction, either by clicking on the higher button if you believe that the price will go higher than the opening price.

On the other hand, traders can click on the lower button if they believe that the closing price will be lower than the opening one as shown here.

Wait for the binary option to expire

Finally, you wait until the expiration time comes and if you have won then, the amount will be shown in a green box as shown in the picture below.

Step 3: Make a deposit and switch to live trading

Making a deposit even in South Africa is pretty simple and requires only few minutes of your precious time. Simply click on the green deposit button at the right top corner as shown above and follow the instructions. You are now ready to start trading.

Risk Warning: As always, we inform our readers that trading involves risk. Always invest funds that you afford to lose.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Options Broker 2020!
    Perfect For Beginners!
    Free Trading Education, Free Demo Account!
    Get Your Sing-Up Bonus Now!

  • Binomo
    Binomo

    Good Broker. Only For Experienced Traders!

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Binary Options Guide For Beginners
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