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Binary Options Demo

Binary options trading is rather simple to do. However, many new traders look for a way to train and hone their skills. This is usually called “paper trading” but in the online world of trading it is usually referred to as demo trading. Binary options demo trading is widely available. Nearly every broker offers training as well as an online free version of the trading platform.

Binary options traders will likely tell new traders that demo trading is not real trading and little can be taken from training in this way. However there are many lessons to be learned while binary options demo trading. For example, new traders in the world of binary options need to full familiarize themselves with the actual trading platform and how it works. There is no reason to be shy about the fact that you don’t know how to use the trading platform. 99.9% of traders are not necessarily familiar with binary options trading platforms and obviously can’t help in the training process. This makes paper trading via an online binary options demo platform very useful. If only to learn where the buttons to open and close are. Think about it this way, do you prefer learning how to use a trading platform with your money or with the broker’s money?

Obviously the answer should be the latter and as such, binary options traders have the unique ability to use a demo to hone skills and make sure that all functionality is understood completely prior to opening a real funded binary options trading account.

Things you need to learn about the trading platform include the following:

  1. Learn how to open a trade. Opening a trade should be rather simple with binary options but you should have a very clear understanding of how to do so, where to click, and how exactly it will look and feel in the real platform
  2. Learn how to close the trade. Many brokers offer “closable” trades. What this means is that once you open the trade, you don’t necessarily need to wait until the expiration of the option in order to take a profit (if the option is already “in the money” or stop a loss and retrieve some of the investment. This is a very important feature that needs to be well understood prior to trading for real and we recommend understanding the basics of how to do so with your broker.
  3. How to choose an asset to trade. You should know in advance what you like to trade but sometimes the binary options demo can offer you a look at many assets you never thought about trading. Usually binary options brokers offer many assets to trade ranging from stocks and stock indices to commodities and forex pairs..
  4. How to open different option types. Make sure you take the time to learn how to open both Above/Below options as well as Touch and Range options before opening a real account.

 

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