Thinking about using Binary Capital Markets (BCM) for your binary options trading? Before you create an account and deposit your money, be sure to read our Binary Capital Markets demo account review. We’ve looked over all of the information that you will need to know before trading here, and have compiled the most important parts for you here.
Demo trading is an important part of your success if you want to have a chance at being a profitable binary options trader. While using one of these is no guarantee of success, it will help you to learn the details of how Binary Capital Markets functions as a site. If you want to have the best chance possible of avoiding careless mistakes and converting your trading knowledge into extra money, then this is the right place for you.
So, read on and see if a Binary Capital Markets demo account is right for you.
Who Can Use Binary Capital Markets?
To trade at Binary Capital Markets, you need to first be at least 18 years old. You also need to live in an area where trading here is allowed. Binary Capital Markets is regulated by CySEC. This is one of the most reputable financial governing bodies in the world right now, and they have very strict criteria for who can use their member broker services. As of right now, to use this broker, you must reside in the European Union, and you cannot live in France or Belgium. So if you live in the United States, for example, you cannot use Binary Capital Markets or its demo account trading services.
How Do I Get Started?
If you are allowed to legally use the BCM trading platform, you can get started trading with them by creating an account. This is very simple to do, and it requires you to only give your name, email address, create a password, and to verify the country that you reside within. You will also need to choose a currency to trade with. You can do all of these things, but you do not yet need to make a deposit. Before you do that, read on.
You will not need to fund your account in order to be able create a demo account with Binary Capital Markets. Once your account has been created, you should have access to a demo account. If the link to create one is not easily apparent, get in touch with their customer support team to help you get started. You can email them at [email protected], or give them a phone call at 357 2503 0529. Their support staff is there to help traders, and you are far more likely to make a deposit with this broker after you’ve given yourself a feel for what the trading platform is like. It is just good business to have a customer support team out there looking out for you.
Once you’ve created your demo account, it’s time to see what the site has to offer. You can do whatever you would like and mimic a whole host of trades. Binary Capital Markets gives you access to about 180 different assets, and many different expiries. These start out as 60 second binary options and move upward from there. They also offer exotic trades like pairs and one touch options. All of these are tradeable through their demo platform. Even if you aren’t likely to use these with real money, you should test them out in a demo setting to get an idea for what trading these things is like in real time on the platform. It might turn out to be handy later on.
If you do decide that you are going to make a deposit into a real money BCM account, the minimum deposit is $250, or the equivalent in euros. Minimum trades stand at 10 dollars or euros. You will be able to set your currency of choice when you create your account. Just remember that once you select your currency you cannot change it later on. Be sure to choose the one that works best for you. Most people find the euro to be best with this broker, but that’s a personal call.
Benefits of Demo Trading
The big benefit to demo trading at Binary Capital Markets is that you get to see what the real money trading platform is like without needing to risk your own money. No, you can’t make money by demo trading, but it does give you the necessary practice to be a more knowledgeable trader when you demo trade without risking money. This way, you can make the mistakes that new traders inevitably make while you’re demo trading, but without losing money like you would if you had been using a real money account.
Binary Capital Markets has a pretty easy to use trading platform, but if you are new to their site, there are bound to be confusing moments. It’s far better to make those mistakes when you don’t have real money at stake, even if it’s only a few euros here and there. Mistakes cost money, and over time, that money adds up. As you’re learning on a new platform, you are far more likely to make mistakes than if you had years of experience at the site. Minimizing your risk early will give you more of a potential to have a cash cushion later on. More cash in your pocket is never a bad thing.
Binary Capital Markets Demo Conclusion
Do you think that Binary Capital Markets is right for you? If you are allowed to trade at their site where you are located, it just might be. Either way, we urge you to test out their platform through a demo account before you commit either way. Binary options trading is risky, and there’s no point in making it harder than it needs to be by choosing a broker that doesn’t match up with your personal set of needs. Before you deposit any money, and before you put any of the money at risk, test out their demo platform to see if Binary Capital Markets is right for you.
Still unsure? Be sure to go to their site and have a look around. This will likely answer any unresolved issues or concerns you might have about the Binary Capital Markets site.
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