Types of demo accounts 08/07/15

Demo accounts offer traders an important advantage and make their trading experience more successful. You can always count on a demo account to allow you to understand how this process work, practice your strategies and find out what works and what you need to work on. On websites such as www.top10binarydemo.com you can find all the information you need about demo accounts. What most beginner traders do not know is that brokers offer various types of demo accounts. Even those once you have such an account, you will be able to use it in the same way there are a few differences that can influence your overall user experience:

Demo accounts with an initial deposit

Some brokers require their clients to make a deposit before they can gain access to their demo account. This is a protective measure brokers take against people who might not intend to stay on their platform and are merely using its resources for their own personal use. The good news is that usually it is possible to withdraw your deposit after you have finished with the demo account, but since you will already be used to the platform and its assets, chances are you will not go someplace else. This is one of the most popular demo features available on the market, as most reliable brokers are inclined to use it not just as a security measure, but also as a strategy to retain clients.

Limited time demo account

Some brokers only allow their clients to use the demo accounts for a limited period of time. This time can vary from a few hours to a few days and it depends on each broker. The good news is that you will be able to access all the feature of the account during the time you are able to use; the bad news is that the time they give you is rarely enough to truly practice your strategies and understand how things work. This is a suitable option for experienced traders who only want to get acquainted with that platform and therefore will not need to use the demo feature for a very long time.

No deposit demo account

This is by far the most advantageous demo account, but unfortunately it is not offered by too many brokers. With the account you only need to open an account t with a particular broker and you will be granted access to all its features, without being asked to make the minimum deposit. However, you should be careful when choosing the broker and read several reviews in order to avoid a possible scam.

These are the three types of demo accounts available on the market. As you can notice, the conditions in which you can access these accounts are the ones that differ and not necessarily the features of the accounts themselves. Once you get access to such an account you will be able to use all its features as you would use them in a real life trading situation.