How to Open Binary Options Demo Account without Deposit in Nigeria

In this lesson,  I’ll show you how to Open binary options demo account without deposit in Nigeria.

Binary options demo accounts are those accounts that you can open for free without depositing any money in the account.



Binary options demo account is useful for those who are new in the business of trading binary options.
This demo account is used for training purpose. So,  if you are new in this business,  I’ll advise you to open a demo account.

Try Demo Account with IQ Option

You can make money from binary options.  But on the other way round,  you can loose all your investments if you don’t know how to trade it well.

Binary options is like a forex trading.  But in this time,  you fix a certain value of money while predicting a rise in the value after a short period of time. It’s also called all-or-none options. You either win everything or loose everything.


How Binary options work

This is how binary options work –

a particular binary options trader who thinks that the EUR/USD price will close at or above 1.2500 at 3:00 p.m. can buy a call option on that outcome. A trader who thinks that the EUR/USD price will close at or below 1.2500 at 3:00 p.m. can buy a put option or sell a call option contract.

At 2:00 p.m. the EUR/USD price is 1.2490. The trader believes this will increase, so he buys 10 call options for EUR/USD at or above 1.2500 at 3:00 p.m. at a cost of $40 each.

The risk involved in this trade is known. The trader’s gross profit/loss follows the “all or nothing” principle. He can lose all the money he invested, which in this case is $40 x 10 = $400, or receive $100 x 10 = $1,000. If the EUR/USD price will close at or above 1.2500 at 3:00 p.m. the trader’s profit will be the payoff at expiry minus the cost of the option: $1,000 – $400 = $600.

The trader can also choose to liquidate (buy or sell in order to close) his position prior to expiration, at which point the option value is not guaranteed to be $100. The larger the gap between the spot price and the strike price, the value of the option decreases, as the option is less likely to expire in the money.

In this example, at 3:00 p.m. the spot has risen to 1.2505. The option has expired in the money and the gross payoff is $1,000. The trader’s net profit is $600.

From this explanations you will agree with me that it can be quite confusing for new traders. That’s the reason why you should open a binary options demo account.

The most interesting thing is that you can open a binary options demo account without deposit in it.  So,  you use the demo account to learn trading binary options without the risk of loosing your money.

Once you master the demo account, you can then deposit money to perform real binary options trading.


How to Open binary options demo account without deposit

To signup for binary options demo account follow the two-step instructions below:

1. Visit IQ Option  and signup for free 60 seconds trading demo account.

You can also visit Google and search for other binary options brokers that will allow you to open a free binary options demo account without deposit.  Luckily you will find many of that allow up-to 60secons trading. This time is enough to learn how to use their platform to learn binary options trading

2. Signup and start trading: please make sure you read through the brokers terms and conditions before you signup.

Also, trade wisely because you can loose all your investments in a single trading period.