TopOption is a binary options broker located in Cyprus. They are regulated by CySEC, and have grown in popularity a lot over the last year or so. If you’re thinking about trading here, one of the smartest things you can do is look over their platform and try the TopOption demo account out first. This way, you can experience everything that the broker has to offer before you start risking your hard earned money.
Binary options trading is tough, and if you are not fully prepared, there’s a decent chance that you can lose your money trading. However, by fully preparing yourself by educating yourself on the top binary options trading strategies, learning the ins and outs of risk management, and by trying out a broker’s demo trading account before you jump head first into your trading with TopOption, you can begin to better your chances of being a profitable trader. It’s not a guarantee of success, but it will get you one step closer.
Who Can Trade at TopOption?
There are a few criteria to meet if you want to trade at TopOption, and these are worth looking over before you try their demo account. The legal requirements state that you must be at least 18 years old, and reside in a country where TopOption can legally operate. Traders in the United States cannot use TopOption. In addition to these rules, we recommend that you have enough expendable money so that whatever you decide to deposit is not a big deal if you lose it. Obviously no one wants to lose money, but because trading is a high risk thing, it’s possible that you will lose money here. This is why we recommend using the TopOption demo account before you start trading with real money.
If you want to create a demo account at TopOption, the easiest way to do so is to get in touch with their customer support team. They can point you in the right direction as to how to get a demo account started and how to use it. You can contact them with the “Chat Now” live chat tool right on their homepage, or by email at [email protected] They also have a variety of phone numbers that you might find helpful, separated by your location.
The only downside to using the TopOption demo trading service is that it is very limited in its scope. A starter account can only use the demo account for 3 days before it expires. Higher tier accounts give you access to demo trading for only 5 days. While even 3 days is enough for a dedicated trader to learn how to use the TopOption platform, it is certainly not enough time for a new trader to get a good feel for what binary options trading is all about. As a result of this, we recommend that new traders use caution if this is the first binary options broker they have ever used. If, after your demo account has expired, you decide that this is the right broker for you, then you should start by making the smallest trades that you can. TopOption allows you to execute trades for as little as $5 apiece. This is where you should start, regardless of how much money you deposited when you first created your account.
You will need to make a deposit to gain access to a demo account. You can open up an account for as little as $100. And, you don’t ever need to trade with this money if you decide not to. But, the only way to try out their demo account is to make a minimum qualifying deposit. This will give you the aforementioned 3 days of demo trading. If you want the 5 days of no risk trading, then you will need to deposit at least $300 to qualify.
TopOption has a lot of benefits for their traders that you won’t find anywhere else. For starters, they offer social trading. This is a way that you can see what other traders are doing, what their success rate is, and jump on to the same future trades that these traders are making.
TopOption also offers trade customization, ultra short term trades as low as 60 second binary options, and one touch options. They have a mobile platform, if you wish to download their iPhone app so that you can trade while you’re on the go. This is a mixed blessing, but it can be very helpful if you have done your research or have a strong signals service. TopOption also has some unique risk management features like rollovers and buy me out choices so that you can alleviate risk in certain situations. They also have a very strong educational section, along with a free ebook, an economic calendar, and a newsfeed with the latest in economic developments so that you can make more educated trade decisions in real time.
Final Thoughts on TopOption Demo Trading
It is possible to make money trading, but it is also very difficult. Having the right broker in your camp is a must if you want to be successful. Having the wrong broker will almost certainly lead to losing money. Where does TopOption fall for you? Unfortunately, you are the only one who can answer this question. However, by looking over our TopOption review, using the TopOption demo account, and asking questions of your own, you can get to a firm answer here.
Whatever you decide, we encourage you to take the demo account for a test run before you start trading, regardless of whether you use TopOption as your broker of choice or not. Yes, TopOption does have a lot to offer their traders, but that doesn’t mean that it’s right for you. Spending some time trying out the TopOption platform before you get started will give you a better answer to this question and give you more of the experience that you will need if you want to be successful.
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