Ever since the StockPair demo account became available, this binary options broker has been growing in popularity. They specialize in pairs of assets where your task is to select which asset will outperform the other. They also offer the traditional call and put options that you would expect from a European style binary options broker.
If you’re thinking about using StockPair, we recommend that you familiarize yourself with their platform thoroughly before you begin. Using their demo trading account can be a great way to do so. Binary options trading is risky, and although demo trading can’t eliminate that risk, it can help you to work out many of the kinks that new traders often experience. With trading already being a difficult task, giving yourself every advantage that you can is just a smart policy.
Here, we’ve provided everything that you need to know about the StockPair demo account to help you get started at this broker right away.
Is StockPair Regulated?
Yes. StockPair is regulated by CySEC and is in complete compliance with European Union trading laws. CySEC is one of the strictest financial governing bodies in Europe, and that means that the brokers that want to stay in compliance with their rules need to adhere to some pretty strict guidelines. StockPair is in good standing with CySEC and this broker is considered reliable in whichever countries CySEC has jurisdiction. This includes most of the EU. If you live outside of the EU, StockPair is not considered an acceptable binary options broker. That means if you live in the United States, you cannot use this broker.
What Can I Use a Demo Account For?
Demo accounts serve a few main purposes. For new traders, they show you exactly what making your first few trades will be like. They get your feet wet in the often fast paced world of binary trading. If you are new to a broker, they let you test out what that broker has to offer. At StockPair, where there are over 150 different assets available, this is a good thing. This broker has many different ways to trade, and learning how to use their platform before you start risking real money is the best way to avoid careless mistakes. A lot of new traders have issues with using the software that the site provides, and this leads to mistakes and misuse of the platform. Having a few days to practice drastically reduces the chances of this happening.
Next, you can also use a demo trading account to practice new strategies with. The downfall to this is the fact that you can only keep a demo account open for one week. This gives you time to practice a new strategy and get the feel for how it will work and look in real time, but it is not enough time to really see if your strategy is going to be profitable over the long term.
However, because of the fact that StockPair offers very different trades from other brokers, StockPair users really need this practice time. The pair trades that are offered are the main selling point of this broker, and if you are not using this feature of the site correctly, you are missing out on opportunities to make money. And with a demo account through StockPair, you can give yourself some much needed practice.
How Do I Set Up a StockPair Demo Account?
To get a demo trading account from StockPair, you first need to create an account. Next, you need to fund that account with a minimum of at least $250 for a qualifying deposit. They also accept the euro and the British pound. Once you set your currency, it cannot be changed later on. The demo feature will not be advertised anywhere, so you will need to get in touch with customer support if you want to get a demo account. While this is certainly not the most convenient way to get started here, it is the only way at this site to actually get to use a demo service. Although a small hassle, we believe that it is well worth it. Your account manager will be able to point you to the right place to get this going.
The customer support staff is very knowledgeable at StockPair. They have their services available in eight different languages, and they are on call 24 hours per day. You can email them at [email protected], or get in touch with them over the phone at 44 203 026 9430. They also have a live chat feature available if you go onto their website.
What Does the StockPair Platform Offer?
StockPair has many different binary options type trades available. Expiries range from 5 minutes in length to over two hours. These will vary a bit depending on what you trade, of course.
This platform does have call and put options, pairs, and what they call kiko options. The demo trading platform gives you access to practice trading with all three types of these options. Unlike most other binary options brokers, StockPair has a very heavy focus on stocks rather than other types of assets.
Conclusion to Stockpair
StockPair has a strong site, and they fill a unique niche in the world of binary options trading. Before you start risking your own money at this broker, we highly recommend using the demo account. It’s not the easiest to get set up, but it will give you the experience that you need to be successful at this site.
If you still have questions about this broker after going over our StockPair review, take a look at their site for yourself. If you are legally allowed to use the broker in your area, you will have access to a whole bunch of information and many of your questions are probably answered either in their FAQ or other spots. Before you fully commit to StockPair, get in touch with their customer service team with any unanswered questions and let them know that you are interested in demo trading through their platform. They will give you all of the rest of the info you will need.
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