Demo trading or paper trading is a popular suggestion that experienced investors recommend to their friends who are just starting out trading. The problem has always been finding a free demo account.
Almost all brokers will give their clients demo accounts but they do not just give them to anyone.
To get your 24option demo account, you must be an existing client. That mean you must have an open account, with money in it! By just creating an account and not making the minimum $250 deposit you will not get a “free” demo account.
Problems of a Demo Account
The big problem with trading on a demo account is psychological.
When you are trading with your own real money, there exists the fear of losses. This causes many investors and traders to hesitate and over think trading decisions. So what happens is the trader opens up a demo account to test out their idea’s. But end up making wild long shot trades that they would never make with real money. This gives them the false confidence to start trading a real account.
Proper usage of a paper trading account is to test out the accuracy of the brokerage firms quotes.
- To get comfortable with the trading platforms features.
- Explore the various types of binary options available.
- Learn how each option really works.
- Test the system for lag or latency in execution of orders.
Always paper trade the same way you would in a real live account.
There are always the funny stories about newbie traders that thought they were trading on a demo account and did not realize they were actually trading on their real money account. Now this can work out to the traders benefit if they happen to get lucky and make huge profits!
24option Demo Accoun
To get your demo account at 24option.com, create a new account and deposit at least $250.
Then call them or go on live chat, and tell them to setup your free demo trading account.