- 1 How to Open IQ Option Demo Account
- 1.1 Why it is Important to Open the IQ Option Demo Account first
- 1.2 A Demo Trading Account
- 1.3 The Trading Platform
- 1.4 Reasons to Choose IQ Option Demo Account
- 1.5 Final Thought
How to Open IQ Option Demo Account
IQ Option is definitely one of the leading options trading platforms in the market today.
One of the main reasons is its beginner's friendliness, therefore there is no reason to wait any longer if you’ve been looking for ways to get into the real action and learn how the platform and the market, in general, work. All you have to do is get a new IQ Option demo account right away and learn the principle of real trading, just by using virtual demo funds.
If you’ve been thinking about trying your hands at the financial markets with the ultimate goal of receiving a high income, then trading options, commodities, and stocks could be of your interest. Unfortunately, many new traders rush into the real market without the necessary trading experience and training! They risk real money and end up losing lots and lots of money which can be ultimately a very sad and disappointing outcome and their confidence in trying again falls away. This is exactly why you need to use a free demo account first.
A free IQ Option demo account is a very helpful preparation before you start in the real market. Also known as a practice trading account, a demo account is functionally and technically a complete copy of the live trading account and allows you to try out this trading system without risking or losing real money as you’ll use virtual demo funds. This is why a free demo account is great for you. So you should open one.
That being said, this article is made by experienced traders that will take you through how to open an IQ Option demo account while also going through everything else that you need to know and learn by using this practice trading account. Plus in the video we give you an extra strategy in the end as a bonus, so you can start right away. 😉
Why it is Important to Open the IQ Option Demo Account first
There’s no doubt that an IQ Option demo platform is the perfect way to train, test various kinds of trading strategies, and more importantly, develop money management skills. It’s an excellent platform to help you make your first steps in binary options trading, learn how to trade, and see how the platform works without risking real money.
Some other benefits of opening a binary options demo account for trading binary options include:
- You get to evaluate how IQ Option work, its technical support, and the speed by which it executes orders and other things.
- You’ll learn and get used to the interface of this binary options trading platform and how it would work once you get the real account and start real trading.
- You’ll learn the role of a real trader and various conditions that you’re likely to experience in a real scenario but conditions of fake risk.
- You’ll study the process of how to submit market and limit orders, make margin transactions, and test the efficiency of your trading strategy.
A Demo Trading Account
It’s important to emphasize the fact that a practice trading account works exactly like a real account because you’ll follow the same procedures and use the same tools as any other trader would do in real life.
Before looking at how a demo account works, it’s essential to highlight some of the features that will be available to you once you open an IQ Option demo account. They include:
- Margin trading
- Offers more than 250 different trading assets
- Allows the use of pending orders as well as limit orders
- Offers video training
- You get fundamental analysis such as current news feed directly on the platform, an economic calendar, and many more.
- You can access technical analysis tools including 4 chart types, dozens of trading indicators, charting tools, and many more
- You can open up to 9 charts all at the same time
- You get to access technical support 24/7
What is the Purpose of an IQ Option Demo Account and Who Can Use It?
A demo account is designed to allow novice traders and newcomers to the trading platform to get acquainted with the trading platform but also with the basics of binary options trading in the market.
A beginner trader can use a practice trading account to learn a lot of things such as a ticker, quotes, market and limit prices, as well as how to submit a buy or sell order, and so on.
That being said, you shouldn’t think that a practice binary options trading account is just meant for novice traders. Instead, it can be an excellent platform for both beginners and experienced traders in learning various trading strategies.
This means that an advanced or experienced trader who wants to learn the effectiveness of his trading strategy can evaluate it on his/her demo account before using it in a real-life scenario. This is of great importance, especially to VIP traders who make several trades and transactions every day and are looking to earn on the difference in quotes.
In essence, you shouldn’t take a practice binary options trading account for granted as this is not a toy. Instead, it’s a perfect tool to help you learn how the platform works, how to trade, and even test trading strategies, without real risks or consequences of a real-life trading scenario that involves risking your money.
By using a binary demo account, you’ll be able to treat it just as it is: not real. However, it will make it a lot easier to practice and also transfer what you’ve learned from it to a live account. This will then limit your chances of experiencing huge losses in your investments and instead increase your chances of making great profits.
That being said, you must take the use of a demo account seriously and use it in the same way you’d use a live account with your money invested.
Features and Advantages of a Demo Account
A binary demo account has a lot of advantages and benefits, but the most important one is that you get replenishable virtual capital. Although this is not real money that you can withdraw, you can use it to test trading strategies and make as many trades as you like.
For example, you can use this virtual money to either try to buy or sell different instruments and see exactly how much you stand to lose or gain on commissions.
Again, you can use this virtual capital to evaluate how much you stand to make on your transactions and how profitable they are. More importantly, a binary options demo account DOESN’T LIMIT your time. In other words, you aren’t limited as far as the time of using your demo trading account is concerned.
As such, let’s highlight the key features of this binary options demo account:
- You can open it for FREE
- You can access all the platform’s tools
- You can access all the trading terminals that are used by real traders or investors
- You can try margin trading, make sale or purchase transactions, evaluate the profitability of your strategies or operations, and discover your losses
- You get virtual money that is not limited since it can be replenished
How to Register an IQ Option Demo Account or Practice Account
Now that we’ve highlighted what a binary options demo account is and its importance, let’s now look at how to open a demo account.
It’s essential to remember that you do not need to open a demo trading account if you already have a real trading account. This is because you can use your already existing account and details to login into the IQ Option trading platform and use the demo account.
If you, however, do not have an account, you can go to the IQ Option official websiteand sign up to create a personal account. Once there, you can click “sign up” or “get started”. A registration form will open where you can enter all your details including your email and password. You can also sign up using the form in the sidebar on our blog.
After that, the system will provide you with an option of two accounts; a binary demo account and a live account. Keep in mind that a practice account is on the left side and has $10,000 virtual money in the account. This is the one that you should choose. The term “start trading” is highlighted in orange color.
As we noted earlier, this demo or practice account can be replenished with free top-ups at any time but you can’t make withdrawals from this account since it’s just a demo and you didn’t deposit the money. You should also keep in mind that you’re not limited by time and can choose to switch between the demo and real-life account at any moment and as you wish.
You can then click “start trading” and the platform will redirect you to the trading platform where you can select binary options assets and make your first practice trading.
How to Reset an IQ Option Demo Account
One of the greatest features of the IQ Option platform is its binary demo account reset. Just imagine a scenario where you have spent all your virtual money but still feel that you need to use the demo account. In such a circumstance, all you have to do is reset the demo account and the amount in your account will be replenished to $10,000!
To do this, go to the right of your account balance and click on the “Deposit” button. This is undoubtedly a very convenient feature that will enable you to use the binary demo account for as long as you want.
How to Switch Between a Demo Account and a Live Account
You’ve used the demo account and feel that it’s time to make the huge leap to the live account and start real-life successful trading. All you have to do is click on your balance at the top bar of the screen.
A window will appear where you can select the type of account that you want. If you’re on a demo account, the live account will appear. And if you’re on a live account, the demo account will appear. This allows you to test a new strategy before immediately going back to the live account and implementing it in a real trade.
The Trading Platform
As far as this binary options demo account is concerned, you’ll notice that the sign-up procedure is very simple. The interface is user-friendly and navigating it is quite easy. The fact that it's a free demo account and you do not have to use your own money makes it even much better.
It’s, however, important to note that this trading platform will require you to replenish your wallet if you decide to sign up and immediately open a live account. This means that you’ll have to go through a verification process and replenish your account with your own money with a minimum deposit of $10.
What are the Devices that You can Trade On?
As a binary options trading platform, IQ Option always strives to ensure the convenience of all its traders. This is why it has developed several applications as well as a progressive web app that is compatible with all types of gadgets and supports the most popular systems.
This means that you can practice trading on one of the top binary options demo accounts wherever you want including on your mobile devices and desktop.
But according to several traders on the IQ Option platform, the most convenient application is, without a doubt, the IQ Option for PC. Once downloaded, you can use it even with low-speed internet. So if you are using the demo or real-life account and discover that there are delays, you can choose to install the platform on your desktop or computer.
The platform's mobile version is also very popular and convenient as it duplicates and transfers all its features and functions to your mobile devices so that you can trade freely at all times wherever you are.
What are Some of the Assets that You can Trade?
IQ Option is known to offer several assets as well as forex and trading CFDs tools. Some of the assets that you can trade include; binary options, currency pairs, stock indices, shares of global companies, ETF funds, commodities (oil and precious metals), cryptocurrencies, and many others.
With several options available, this platform gives you the freedom of choosing an asset to invest in.
What are the Charting Tools and Indicators that the Platform Provide?
As a binary broker, IQ Option offers you several tools that can help you in your online trading. The charting tools that are offered include chart type, time period, and graphic tools.
In terms of charts, there are bars, line charts, Japanese candles, and a Heiken Ashi candlestick chart. The Heiken Ashi candlestick chart is a good tool that can help you make a difference in your trading but only if you know how to use it.
The different indicators on this platform include 6 groups: trend indicators, momentum indicators, volatility indicators, volume indicators, moving averages, and others.
All these tools are incorporated within the platform to make it easy to implement your trading strategies and make money. They are all available in both the practice account and the live account.
Reasons to Choose IQ Option Demo Account
First things first, IQ Option is one of the best online trading platforms. It is one of the best brokers around and offers among the best binary options demo accounts and all the conveniences to ensure that you can have successful trades. It’s ranked as one of the best binary options companies although you aren’t allowed to hold several retail investor accounts.
Let’s look at some of the reasons to choose IQ Option.
Offers Several Trading Assets
Besides offering free demo accounts, this platform supports the use of various devices including mobile trading on your mobile device. This makes it more convenient as you can trade from wherever you are. The platform also offers several financial products and assets that you can trade.
Whether you want to trade forex or any other asset, there are a plethora of assets such as currency pairs, commodities, and ETFs (ETF stands for Exchange-Traded Fund), that you can invest money in and make huge profits.
It’s a Safe and Secure Platform
As an investor involved in online trading, one of the first things that will cross your mind is the security and the safety of all your funds. Given that IQ Option is a fully regulated binary options platform, all your details and money are safe and secure. If anything, this is one of the safest and most secure online binary trading platforms.
Again, this platform offers a risk warning and clearly states that there are various risks involved, which is a piece of legal or other advice to traders and also caution on the inherent risks of trading binary options.
You can Implement Various Strategies
One of the things that you’ll love about the IQ Option free demo account, which offers among of the best binary options demo accounts, is the fact that it gives you the chance to try various strategies, which are risk-free. It also has an alert system, especially on the news feed that can inform you of various market conditions.
To this end, the need to sign up and use the IQ Option demo account is of great importance and paramount. In essence, a demo account lets you gain the necessary trading experience through practice trading before investing your own money in live trading.
So what are you waiting for? Sign up today and use this amazing demo account to gain the necessary trading experience!
General Risk Warning: The financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose
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