24Option is a top notch trading broker, with lots of years of experience in the Forex market. It differentiates itself from many other competitors by providing their customers with plenty of attractive perks such as software versatility, significant bonuses, and the option to activate the 24Option demo account.
The company demo account is entirely free of charge, and it was specially created for new traders to help them understand the way trading market functions. However, a demo version plays an important role for both newbies and experienced traders.
How to Create A 24Option Demo Account?
- Go online. Visit their official website to create an account by signing in. You will be required to offer a few personal details such as contact information. Due to the well-developed platform, this process will not take longer than just a few minutes. We will even give you a heads-up: don’t use fake personal information. This might make the company ban you from the website.
- Fund your demo account. The next step is to place a small amount of money into the 24Option demo You will be required to deposit a minimum of 250 dollars to get you started. Don’t fret about losing the money. You do not have to spend this money or at least, not all of it. If you get through the demo period, and you decide to quit the trading business, you can always withdraw all the sum you deposited.
- Get started. After you have created an account, and deposited 250 dollars, you will select the demo version of the available accounts. That was all! The process is simple. Now, you can start discovering how the trading market works, without any risks.
Main Benefits of The 24Option Demo Account
- Fast learning. Through a 24Option demo account, you will get to know all the details of a successful trading procedure. It will make you gain more experience, even if you are new on the market.
- No risks. The whole thing is free of charge. Therefore, there are no risks involved in your trading while using the 24Option demo account.
- More confidence. By learning to make efficient trades, you will gain more experience, and you will start making wiser decisions. This way, your level of confidence will increase, especially because the demo version is very similar to the real account.
- Less stressful. You will not get as nervous as using a real account because you will not lose any money. On the other hand, you will not win anything either. This can be less motivational for some traders who love the adrenaline rush.
- Trying multiple strategies. If your initial plan does not work, you can always modify or create a new strategy.
How The 24Option Demo Account Works?
The 24Option demo account has the same features as a real account. The only difference is that instead of using real money, you will trade virtual currencies. Using this practice account is quite simple as well as convenient for all the new traders.
Having all these traits, your demo experience will resemble a whole lot with the one of a real active account. You will be able to try different trading strategies to discover which works best if used in the binary options trading environment.
If you create a live account right away, without having the 24Option demo account first, you might expose yourself to great risk. Furthermore, having no experience at all might make you lose money. Therefore, having a practice account first will only create benefits for you.
The interesting incentives do not stop here. Having a demo account, you will be able to receive a welcome bonus that is situated between 30 percent and 100 percent of your deposit amount. When it comes to what kind of money you should pay, there are plenty of options. You have to give 250 units. However, you can place these units in British pounds, US dollars, or Euros.
The 24Option demo account uses the same TechFinancials trading platform as all its other live accounts. Even though the company offers plenty of learning materials, you can consider the practice account to be the most comprehensive and relevant learning tool of them all. Furthermore, the broker recommends all its customers to use the demo version before actually creating a real account.
What Should You Do with A 24Option Demo Account?
- Discover the platform. Using the practice account will help you understand how the trading platform works in an easier and faster way. You will be taught how to place an order. For example, you will get to know the difference between an instant and a pending order. Don’t count on the fact that you have used a similar platform in the past. Every portal is different, and every time you use a new one, you must get accustomed to it.
- Testing different indicators. Through a 24Option demo account, you will be able to test both indicators and expert advisors. This way, you will get more insights about the way they work. Furthermore, you can spot any potential error, and help the company correct the software.
- Create a precedent for Signals Notification service. When it comes to monetizing a platform by selling forex signals, a practice account is a valuable tool. Moreover, you will create a track record that will further generate a strong marketing instrument.
- Reliable chart and analysis source. A 24option demo account is a great tool for analysis provided by different brokers. This kind of information can be transformed into successful trades.
- Trading in plenty of markets. A practice account is useful to trade not only in the forex market but also in the binary options environment. The demo account plays the role of an analysis source. Furthermore, a trader can see assets’ prices and compare them.
- Software development. The 24Option demo account is used to create software for other trading markets. These automated software programs are linked to the trading platform. They optimize the trade operations.
There are plenty of benefits in using the 24Option demo account. It will help you improve your trading skills, and have a better trading performance in the real market. Most of the traders gain bigger profits after they train with a practice account first. You will see how easy is to use their interface. The company offers a wide range of trades. However, you should use their demo account before considering a real one.
With the demo version, you can train until you gain enough confidence and experience to go in the real trading market. The company’s practice account is another important and useful factor that makes this broker one of the best in the world. Do not forget to ask any question when you feel there are things to clarify. 24Option has one of the best customer services of all trading companies.