Many of us ignore the demo accounts available on the financial market and this is often a mistake. Demo accounts are an excellent learning and training tool that help traders evolve. Understand the main reasons why you should use the IQ Option demo account to become a profitable trader.
Dear trader, in this article we’re going to talk about demo accounts, specifically the IQ Option demo account.
Demo accounts are offered in the most diverse types of trading and in binary options it’s no different: when you register with IQ Option, the demo account is quickly made available.
It’s a great way to get to know the platform because it allows you to see, access and test all the features it offers, which are also available on the real money account.
In other words, the IQ Option demo account works just like a real account, only with virtual capital. As well as using it to familiarize yourself with the broker, we recommend that you use it for a few other reasons.
We’ll explain them below, as well as other important details about the IQ Option demo account.
Top reasons to start at IQ Option with the demo account
As we mentioned in the introduction to this article, the demo account is nothing more than a full account, but with fictitious money instead of real money.
Some of the deposit options, such as boleto bancário, can take a few days to clear and be credited to your IQ Option account.
The IQ Option demo account is certainly a good way to start familiarizing yourself with the platform in the meantime. And even if you have opted for a more instant payment method, such as a credit card or e-wallet, we still recommend that you start trading on the demo account.
Don’t lose money operating the IQ Option demo account
One of the main reasons to trade on the IQ Option demo account is to do so in order not to lose money, simple as that.
Bear in mind that losing money is plausible in any financial market operation, but when you trade methodically, your chances of making money consistently are much higher.
If you have no or little experience in trading, we’re sorry to say that you will most likely lose money, and we definitely don’t want that to happen to you.
Even if you start out making good profits, in the long run it’s likely that without a method you’ll end up giving this profit back to the market.
Analyze the markets and assets available through the IQ Option demo account
As we briefly mentioned at the beginning, getting to know the trading platform’s interface is also something you should do on the IQ Option demo account, especially if you’ve never traded binary options before, or if you’re coming from another broker.
Start by checking out the list of markets and assets on offer, analyzing which ones are available and at what times, so you can start choosing which ones are most attractive for you to trade and so you can also schedule yourself according to their respective market opening and closing times.
The IQ Option demo account allows you to test the various indicators and tools
The broker has a wide variety of indicators that even experienced traders may not know all about.
So as well as checking the indicators you already know, take this opportunity to get to know and study others you don’t know.
Also try out the different types of charts, candlestick periods and graphical tools. Everything is highly customizable, which will certainly help you set up effective and easy-to-view charts.
Test your strategies on the IQ Option demo account
Practice a lot! As we’ve already mentioned, the IQ Option demo account is completely free.
In case you didn’t know, the costs of developing, maintaining and providing data for this type of platform represent a considerable sum for the broker. So see the demo account as something of value even if you didn’t have to pay for it.
We know that the feeling of trading with real and virtual money is different. However, losing real money is always bad. So, to avoid unnecessary losses, take the time to practice your strategies on the IQ Option demo account.
Do this by recording your trades and monitoring the results, so that you can separate the strategies that tend to be the most winning for trading on the real account.
Use the IQ Option demo account to simulate your capital management
The IQ Option demo account offers a fictitious capital of 10,000 reais, which, if lost, can be restored so that you can try again.
If you’re a beginner, it’s very unlikely and not recommended that you start with a capital of this size, so match the capital in the IQ Option demo account to the amount you intend to use or have already deposited in the real account.
That way, the simulation will be much closer to reality, and you’ll be able to get a better idea of what your portfolio would look like after certain trades.
Remember that capital management is one of the great secrets of success for profitable traders, so don’t underestimate this tip. Most professional traders recommend trading with 1 to 5% of your total capital, so try to start managing your capital on your demo account.
Switch between the IQ Option demo account and the real account
The demo account is certainly a trader’s great ally, but the goal in binary options is to make money, and that’s not possible on IQ Option through the demo account.
Therefore, as you become more comfortable with the platform and its strategies, start trading on the real account. It will bring you not only the results you want, but also the experience of trading with risk, which is fundamental for a trader.
Go back to the demo account whenever you want to try something new, or even on a day when you’re not feeling well, where trading on the live account could increase your chances of losing.
In these cases, practicing on the IQ Option demo account will help you to learn continuously and won’t put you under pressure in the event that you’re suffering from stress and other day-to-day problems.
Conclusion on the IQ Option demo account
With the exception of the psychological factor added by real money, the IQ Option demo account offers a complete binary options trading experience. So if you’re not yet an experienced trader, we highly recommend that you check out and test this type of account.
Opening a demo account at IQ Option is very easy and free, so there’s no reason not to try it out.
After reading this article, you’ll see that it’s worth opening a demo account on the IQ Option platform and getting to know the most interesting trading strategies.
