Binary Options Demo Accounts
Binary options demo accounts are a useful tool for beginners. They are also a great way to test a broker’s products and services before putting money on the line. Demo accounts essentially replicate live binary options trading conditions but are funded with virtual money.
In this guide, we rank the best binary options demo accounts and list our top tips for getting the most out of paper trading solutions.
Best Binary Options Demo Accounts UK
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Pocket Option provides extremely short-term binary options starting at 3 seconds on an easy-to-use web platform ideal for novices. With payouts exceeding 90%, the 'Double Up' and 'Rollover' tools offer additional chances for profit.
Pocket Option has the easiest access demo account we’ve seen, with access in one-click and no personal details required. You get a $100,000 virtual bank roll with the same charting package and expiry times as live account holders. Even if you do upgrade to a real money account at some point, like we have, you can easily flick back to demo mode to test new strategies.
Min Deposit Payout % Expiry Times $50 92% 3 seconds - 1 month Bonus MetaTrader 4 Markets 50% Deposit Bonus Yes Forex, Stocks, Crypto, Commodities -
IQCent provides binary options featuring exceptional payouts up to 98%. The platform, albeit with basic analysis tools, accommodates various timeframes ranging from 1 minute to 1 month, supporting both short and long-term trading strategies. However, it is worth noting that stock binaries are unavailable.
IQCent offers a reliable and intuitive demo trading account with $10,000 in virtual credit and full access to its suite of binaries, including its own ‘Pool’ and ‘Hype Pool’ products. Having placed dozens of short-term binaries in the paper trading mode during testing, it’s demonstrated that it’s a great option for prospective clients or strategy testers. The only notable absence is that we spotted the AI trading feature isn’t available in demo mode.
Min Deposit Payout % Expiry Times $250 98% 5 seconds - 1 month Bonus MetaTrader 4 Markets 20% to 200% Deposit Bonus No CFD, Forex, Crypto, Commodities -
Capitalcore has broadened its range of trading products by adding binary options for forex, metals, and cryptocurrencies, offering returns of up to 95%. Designed for short-term traders, contract durations vary from 1 minute to 1 hour. The user-friendly web platform makes trading simple; just click 'Call' if you predict a price increase or 'Put' for a decrease.
Capitalcore runs an excellent demo binary trading account with a distinct dark theme, clear ‘Call’ and ‘Put’ buttons, plus an integrated journal. Equipped with a $100,000 bankroll, we’ve used it to test the desktop and mobile platform, placing both winning and losing trades. Our only gripe is that support isn’t truly integrated in to the demo platform – click the support icon and you’re taken to a separate window, detracting from the immersive experience offered by most firms in this list.
Min Deposit Payout % Expiry Times $10 95% 1 minute - 1 hour Bonus MetaTrader 4 Markets - No CFD, Forex, Stocks, Crypto, Commodities -
CloseOption provides binary options trading on over 30 fiat and digital currencies via a user-friendly online platform. With 15 contract durations ranging from 30 seconds to 1 month, it caters to both short-term and long-term traders. New users receive a welcome bonus.
CloseOption offers an easy-to-use demo trading account with $100,000 in virtual credit. Where it stood out in testing is that it provides useful tips and instructions for getting the most out of the platform, which not every provider did. Also you can take part in weekly demo contests with prizes up to $1,300.
Min Deposit Payout % Expiry Times $5 95% 30 seconds - 1 month Bonus MetaTrader 4 Markets - No Forex, Crypto -
Videforex provides binary options with 20% returns on cryptocurrencies and up to 95% on more stable assets, outperforming many rivals. It supports contract durations from 5 seconds to 1 month. New users benefit from a welcome deposit bonus.
Videforex has a web-accessible demo platform with no deposit required. Loaded with $10,000 in virtual funds, it’s great for trying turbo, intraday and long-term trades. It’s also fairly unique in that it provides integrated market and technical analysis to help inform trades – something the majority of demo account providers we tested only offer to real-money account holders.
Min Deposit Payout % Expiry Times $250 95% 5 seconds - 1 month Bonus MetaTrader 4 Markets 20% to 200% Deposit Bonus No CFD, Forex, Stocks, Crypto, Commodities -
Engage in trading high-low binary options on currencies, metals, and cryptocurrencies, offering significant returns. Binary options provide a clear wager on the short-term movement of an asset.
Min Deposit Payout % Expiry Times $10 86% 1 minute - 48 hours Bonus MetaTrader 4 Markets - Yes CFD, Forex, Stocks, Crypto, Commodities -
RaceOption provides over 100 binary options with competitive returns up to 95% and rapid expiry times starting at 5 seconds. A minimum deposit of $200 grants clients free transactions, speedy withdrawals, and various trading bonuses.
RaceOption offers a $10,000-loaded demo account with no sign up or deposit requirement. The charting tools, platform and high/low binaries all worked well for currencies, stocks, commodities and crypto during testing, and it was easy to try different expiry times (5 seconds to 30 days) and stakes ($1 minimum to $10k maximum). RaceOption also marks itself out with its frequent demo trading contests where you can compete against other active binary traders.
Min Deposit Payout % Expiry Times $250 95% 5 seconds - 30 days Bonus MetaTrader 4 Markets 20% - 200% Deposit Bonus No CFD, Forex, Stocks, Crypto, Commodities
Pocket Option
IQCent
Capitalcore
CloseOption
Videforex
Grand Capital
RaceoptionSafety Comparison
Compare how safe the Binary Options Demo Accounts are and what features they offer to protect traders.
| Broker | Trust Rating | FCA Regulated | Negative Balance Protection | Guaranteed Stop Loss | Segregated Accounts |
|---|---|---|---|---|---|
| Pocket Option | ✘ | ✘ | ✘ | ✘ | |
| IQCent | ✘ | ✘ | ✘ | ✘ | |
| Capitalcore | ✘ | ✔ | ✘ | ✔ | |
| CloseOption | ✘ | ✘ | ✘ | ✔ | |
| Videforex | ✘ | ✔ | ✔ | ✘ | |
| Grand Capital | ✘ | ✘ | ✘ | ✔ | |
| Raceoption | ✘ | ✘ | ✘ | ✔ |
Payments Comparison
Compare which popular payment methods the Binary Options Demo Accounts support and whether they have trading accounts denominated in British Pounds (GBP).
| Broker | GBP Account | Debit Card | Credit Card | Neteller | Skrill | Apple Pay |
|---|---|---|---|---|---|---|
| Pocket Option | ✘ | ✔ | ✔ | ✘ | ✘ | ✘ |
| IQCent | ✘ | ✔ | ✔ | ✘ | ✘ | ✘ |
| Capitalcore | ✘ | ✘ | ✘ | ✘ | ✘ | ✘ |
| CloseOption | ✘ | ✘ | ✘ | ✘ | ✘ | ✘ |
| Videforex | ✔ | ✘ | ✔ | ✔ | ✔ | ✘ |
| Grand Capital | ✔ | ✔ | ✔ | ✔ | ✘ | ✘ |
| Raceoption | ✔ | ✔ | ✔ | ✔ | ✔ | ✘ |
Mobile Trading Comparison
How good are the Binary Options Demo Accounts at mobile trading using apps or other mobile interfaces.
| Broker | Mobile Apps | iOS Rating | Android Rating | Smart Watch App |
|---|---|---|---|---|
| Pocket Option | iOS & Android | ✘ | ||
| IQCent | iOS & Android | ✘ | ||
| Capitalcore | Android, Webtrader | ✘ | ||
| CloseOption | iOS & Android | ✘ | ||
| Videforex | Android | ✘ | ||
| Grand Capital | ✔ | ✘ | ||
| Raceoption | iOS & Android | ✘ |
Beginners Comparison
Are the Binary Options Demo Accounts good for beginner traders, that might want an affordable setup to get started, along with good support and educational resources?
| Broker | Demo Account | Minimum Deposit | Minimum Trade | Support Rating | Education Rating |
|---|---|---|---|---|---|
| Pocket Option | ✔ | $50 | $1 | ||
| IQCent | ✔ | $250 | $0.01 | ||
| Capitalcore | ✔ | $10 | 0.01 Lots (CFD/Forex), $1 (Binaries) | ||
| CloseOption | ✔ | $5 | $1 | ||
| Videforex | ✔ | $250 | $0.01 | ||
| Grand Capital | ✔ | $10 | 0.01 Lots | ||
| Raceoption | ✔ | $250 | $0.01 |
Advanced Trading Comparison
Do the Binary Options Demo Accounts offer features that allow for more advanced trading strategies?
| Broker | Automated Trading | Pro Account | Leverage | VPS | AI | Low Latency | Extended Hours |
|---|---|---|---|---|---|---|---|
| Pocket Option | ✔ | ✘ | - | ✘ | ✘ | ✘ | ✘ |
| IQCent | ✘ | ✘ | 1:500 | ✘ | ✘ | ✘ | ✘ |
| Capitalcore | - | ✘ | 1:2000 | ✔ | ✘ | ✘ | ✘ |
| CloseOption | - | ✘ | - | ✘ | ✘ | ✘ | ✘ |
| Videforex | ✔ | ✘ | 1:500 | ✘ | ✘ | ✘ | ✘ |
| Grand Capital | ✔ | ✘ | 1:500 | ✘ | ✘ | ✘ | ✘ |
| Raceoption | - | ✘ | 1:500 | ✘ | ✘ | ✘ | ✘ |
Detailed Rating Comparison
Use this heatmap to compare our detailed ratings for all of the Binary Options Demo Accounts.
| Broker | Trust | Platforms | Mobile | Assets | Fees | Accounts | Support | Research | Education |
|---|---|---|---|---|---|---|---|---|---|
| Pocket Option | |||||||||
| IQCent | |||||||||
| Capitalcore | |||||||||
| CloseOption | |||||||||
| Videforex | |||||||||
| Grand Capital | |||||||||
| Raceoption |
Our Take On Pocket Option
"Pocket Option is a top choice for active traders due to its extensive binary assets and regular platform enhancements, such as 'AI Trading' and expanded expiry options from 3 seconds to 1 month."
Pros
- Pocket Option has launched an 'AI Trading' feature that evaluates signals, technical indicators, and trader insights to identify the best trade direction and expiry. Due to limited transparency, test cautiously with minimal stakes.
- The variety of payment options surpasses most competitors, offering traders in numerous countries swift, secure, and convenient deposit processes.
- Traders with a deposit of over $1,000 may receive a 2% or higher payout increase, access to more assets, and enjoy exclusive benefits.
Cons
- Although binary brokers such as IQCent provide returns reaching 98% based on evaluations, others typically offer competitive payouts up to 92%.
- To gain access to over 250 assets, a deposit of $1000 is required. Without this deposit, traders will only have access to a selection of 130 assets.
- Pocket Option presents a streamlined version of MT4 and MT5, lacking the comprehensive charting tools that experienced traders seek.
Our Take On IQCent
"IQCent caters to traders seeking customised binary assets, offering over 150 products, such as ‘Hype Pool’ contracts for trending events. It features short-term expiries starting at 5 seconds and payouts reaching 95%, with a potential 3% boost. The TradingView charting package, complete with over 100 indicators, suits serious, quick-paced traders."
Pros
- The proprietary terminal features TradingView charts, providing numerous technical indicators and analyses for traders.
- The broker provides payouts of up to 98% on binary options, surpassing alternatives such as Pocket Option, which offers a maximum of 92%.
- CFD trading fees are competitive, with major forex pairs like EUR/USD incurring costs from just 0.7 pips.
Cons
- IQCent imposes a £10 monthly inactivity fee if a trader does not execute at least one trade each month.
- IQCent lags behind binary brokers such as Quotex due to its limited investment range of approximately 175 assets, including few stocks.
- Automated trading support is unavailable for algorithmic traders.
Our Take On Capitalcore
"Capitalcore operates a leading binary options platform, ideal for those requiring sophisticated charting capabilities. Integration with TradingView provides over five chart types and 90 indicators. The 'double up' and 'rollover' features, allowing quick trade replication or extension, are superb for strategy enhancement."
Christian Harris
Reviewer
Pros
- Capitalcore now offers trading on over 30 currency pairs, metals, and cryptocurrencies. With one-click functionality, traders can enjoy payouts of up to 95%.
- Unlike the majority of brokers, Capitalcore provides a limitless demo account, which can be set up in less than five minutes.
- The Capitalcore platform offers advanced charting tools and over 150 technical indicators, perfect for in-depth market analysis.
Cons
- Capitalcore's limited education and research offerings fall significantly behind industry leaders like IG, rendering it less ideal for aspiring traders.
- During testing, the web platform proved unreliable due to sporadic technical issues, causing the trading platform to fail loading at times.
- Capitalcore lacks regulation from major financial authorities, casting doubt on its reputation and raising concerns over the safety of client funds.
Our Take On CloseOption
"CloseOption ranks as the most accessible binary broker for novice traders. Registration is under five minutes, with a minimum deposit of $5 and a minimum stake of $1. It also caters to competitive traders with weekly tournaments offering cash prizes up to $1,300."
Pros
- CloseOption hosts weekly trading competitions, awarding cash prizes to traders.
- Various international payment options are accessible.
- Free practice account
Cons
- CloseOption lacks regulation by a reputable financial authority.
- Binary options are exclusively offered for both traditional currencies and cryptocurrencies.
- Clients must deposit over $50,000 to be eligible for the highest returns.
Our Take On Videforex
"Videforex offers an intuitive platform for traders speculating on market trends with binary options, focusing on cryptocurrencies and stocks, with numerous assets available. TradingView charts support technical analysis. However, the absence of regulation poses significant risk."
Tobias Robinson
Reviewer
Pros
- Videforex has expanded its offerings, allowing traders to access popular cryptocurrencies like TON, ARB, PEPE, and SHIB, leading tech stocks such as Tesla, Meta, Nvidia, and Amazon, and a more varied FX portfolio including THB, ZAR, and MXN.
- Videforex is among the select brokers offering round-the-clock multilingual video support, ensuring thorough assistance for active traders.
- Videforex frequently holds trading contests, providing both novice and seasoned traders with practice opportunities and cash prizes. Traders can participate with position sizes starting as low as 1 cent.
Cons
- Videforex is not licensed by a reputable regulator, leaving traders with minimal or no protection, such as segregated client accounts.
- Based on recent tests, the client terminal requires enhancements, as its widgets occasionally become slow and unresponsive, which could affect traders' experience.
- The lack of educational resources is a significant disadvantage for novice traders. In contrast, leading firms offer blogs, videos, and live trading sessions.
Our Take On Grand Capital
"Grand Capital is a solid choice for traders adept with MetaTrader and passive investors seeking copy trading and LAMM options. However, its regulatory standing falls short compared to rivals."
Pros
- Minimum deposit as low as £10.
- High leverage up to 1:500
- Trading competitions offering cash prizes
Cons
- Basic education and market research
- Elevated spreads on certain assets
- Minimal regulatory supervision.
Our Take On Raceoption
"RaceOption ranks highly among binary firms, offering diverse assets, including US tech stocks and unique cryptocurrencies. It caters well to intraday traders with 5-second turbo contracts and tick charts via TradingView charts. Frequent contests enhance the binary trading experience."
Pros
- RaceOption simplifies account funding with no-fee, near-instant deposits through bank cards and cryptocurrencies. Withdrawals are processed within one hour, guaranteed.
- RaceOption is among the select few brokers providing 24/7 multilingual video chat. However, our interactions suggest that their agents require better understanding of trading and regulatory matters.
- Returns on well-known assets such as EUR/USD can go up to 95%, outperforming many other options based on our analysis and boosting potential gains. Additionally, the initial three trades incur no risk in Silver and Gold accounts.
Cons
- RaceOption operates as an unregulated broker, offering high-risk trading with no investor compensation or legal remedies if trading or withdrawal problems arise.
- The $250 minimum deposit, though still attainable for numerous retail investors, presents a higher entry barrier compared to platforms like Deriv and World Forex, which cater more to budget-conscious traders.
- RaceOption, lacking both a demo account and educational resources, is not ideal for novice traders.
What is a Binary Options Demo Account?
Demo accounts, often called simulator accounts, can be used by traders to practise strategies, test different binary options products and get familiar with new platforms. The top demo accounts come with an unlimited virtual bankroll and no expiry. Importantly, traders cannot win or lose real money in a simulator account.
Paper trading solutions are normally offered free of charge by the best brokers with no deposit requirement. With that said, some brokerages will request basic contact details, such as name, email address and telephone number.
Given the high risk/high reward nature of binary options trading, demo accounts are a great way to build up confidence in a risk-free environment. Clients can then transition to a real-money trading account when they feel ready.
Comparing Binary Options Demo Accounts
Sign-up requirements differ between brokers. With Alpari, for example, no formal registration or deposit is needed – simply fill in basic contact details on the sign-up page, enter the one-time passcode that will be sent to your telephone or email, and the broker will activate the account.
The top providers will make the demo account available almost instantly. They will also provide guides to getting the most out of the platform, including customising the terminal. Also check if the demo account includes access to any mobile app the broker may provide.
In addition, look at the binary options available in the demo setting. The most popular products include:
- Up/Down
- In/Out
- Ladder
- Touch/No Touch
Importantly, avoid firms that require a deposit to use the demo account as many platforms offer a free facility. Also be wary when taking part in demo trading contests – prize funds cannot usually be withdrawn, and if they can, deposit and volume requirements may need to be satisfied first.
Note, that the payouts offered in the demo environment do not always mirror the returns offered with a live trading account.
Pocket Option demo account
Advantages of Binary Options Demo Accounts
- Risk – A demo account is a safe place to practise strategies and trading systems without risking capital. Clients cannot win or lose money in a simulator setting.
- Scams – Free demo accounts can be a good way to weed out scams and potentially untrustworthy brokers. Reliable firms will offer a demo account with no strings attached. They also won’t pressure you into opening a live account and investing money until you feel ready.
- Quick registration – New users can get started with a free demo account in a few minutes. There are no KYC checks or registration hurdles to jump through (apart from sharing basic contact details).
Disadvantages of Binary Options Demo Accounts
- False confidence – Because binary options demo accounts do not replicate the full pressure of real-money accounts, they can give traders false confidence. Payouts and returns may also be inflated if brokers charge additional trading and account fees in their live accounts.
- No guarantees – While binary options demo accounts can help refine strategies, they cannot replicate a real trading environment with the associated stress and pressure. Sometimes the only way to truly practice binary options trading is by putting actual money on the line. This is why some new traders prefer to sign up with brokers that have low minimum deposit requirements instead.
Tips
We have listed our top tips for getting the most out of a binary options demo account:
- Discipline – Make a plan and stick to it – like you would with a real trading account. Practise following a plan and implementing risk management tools like stop-losses and limit-orders. Treat the trading day and your virtual capital as real money.
- Take your time – Be realistic and take into consideration how little or much knowledge you have of binary options as well as the market you wish to trade in. 80% of retail traders leave after the first two years – this is even higher for binary options. Making profits over the long term requires patience and commitment.
- Gather data – Create a spreadsheet to track what works and what doesn’t. Monitor the type of binary option used, the size of the stake, the payout, and the expiry time. This will help you improve your trading system before switching to a real-money account.
Bottom Line on Binary Options Demo Accounts
A binary options demo account allows traders to practise strategies and test new providers. They are offered by several leading brokers that accept UK clients, whether it be via a mobile app or online webpage. Importantly, the best demo accounts are free and offer wide market access and competitive binary options trading conditions.
See our list of the top practice accounts to get started today.
FAQs
Will Binary Options Demo Accounts Help Me Make Money?
Making profits when trading is never guaranteed. With that said, binary options demo accounts can boost investors’ confidence and help develop trading skills and effective strategies. This is particularly important for binary options given the all-or-nothing nature of contracts.
Where Can I Learn More About Binary Options Demo Accounts?
Each broker that offers a binary options demo account has information about the specific type of products and services they provide. Head to their official websites for more information. Alternatively, check out our detailed reviews for the key information that traders need to know before signing up.
Which Brokers Offer Binary Options Demo Accounts?
Trusted brokers include Pocket Option and Race Option. Several brands also offer free demo account access to MetaTrader 4 (MT4).
Are Binary Options Demo Accounts Halal?
Binary options demo accounts are arguably Halal given that no real capital is involved. If careful strategies are used and planning is involved, this reduces the resemblance to gambling. Consult a local religious leader for guidance.
How Can I Avoid Being Scammed Trading Binary Options?
Using binary options demo accounts can be a good way to weed out potential scams. Brokers that offer demo accounts are not usually scams as fraudulent websites tend to ask for money and/or personal details quickly. Also be wary of offers that are ‘too good to be true’, multi-level-marketing (MLM) personnel and managed accounts, as these can be tell-tale signs of binary options scammers.