Traditionally, the demo account is a crucial part of the conversion funnel for brokers. For clients, it is the surest way to decide if a broker is worth their time. Read the NADEX review here.
Regardless, a number of requirements and/or restrictions inundate demo account trading on standard EU brokers. The motive may be genuine. However, these restrictions or requirements often prove to be limiting for prospective or existing clients who intend to give the demo trading a try.
These requirements and restrictions take many forms. For example, some brokers only permit those who have made live accounts and have deposited to use the demo account. Others would only let you use the demo account for a fixed period. Yet, others would limit the features you can access on your demo account.
NADEX is an exchange. This places their business interest in a different league than most other brokers. There are no limitations or requirements when opening or operating a demo account.
Rather than limit who can open a demo account or what you can do on your demo account: NADEX would rather you get a decent grasp of the trading platform, become apt at binary options trading, apply strategies you learn without risk, and try your hands without the risk of getting burnt.
This approach ties in with the NADEX philosophy of transparency and simplicity.
Features of the NADEX Demo Account
When you open a demo account on NADEX, you receive instant $25,000 of virtual funds.
As is the rule of thumb in demo account, this fund is unreal and even if you do profit from trading this play money, you would be unable to withdraw the proceeds.
You are free to do as you wish with the funds. You may trade any number of lots according to prevailing market conditions as long as the virtual funds cover the intended amount.
Your demo account at NADEX does NOT have an expiry or closing date. It is a permanent, lifetime account that you can use at any time and on any device (be it a PC or a smart device).
There are no requirements to opening and operating a demo account. You heard that right.
You do not have to open a live account first. Nor do you have to make a certain amount of real deposit on a live account to get access to your demo account.
In addition, there are no hoops to cross to open a demo account, such as contacting support or providing a valid credit card. The NADEX demo account is free and more importantly very easy to open.
NADEX does not attach any limits to the use of your demo account. There are no restricted features on the trading platform nor are there assets or expiry times that you cannot access.
The demo account is a free pass to getting a good grasp of the user-friendly and intuitive NADEX trading platform.
The NADEX trading platform is different from the standard trading platforms on EU brokers. Therefore, if you are making a switch, it would be vital that you take the liberty of checking through the trading platform before taking a plunge with a live account.
What better way to do so than using a free permanent no-holds-barred demo account that offers the exact features as a live account.
How to Open a NADEX Demo Account
Opening a NADEX Demo Account is quick and seamless
- STEP 1: On the NADEX website, hover on “Trading Platforms” in the nav bar.
- STEP 2: Click on “Demo Trading Platform”
- STEP 3: Fill in the requisite information on the Demo Account Registration page. These are your Username, Name, Nationality, Phone, and Email Address.
You would receive your password via the mail you registered with after clicking on the “Open a Demo Account” button.
After receiving your password, you can easily log in to the web or mobile trading platform at any time with your Username and Password.
It makes no difference if you are a new binary options trader trying to find your feet in the market or a seasoned trader trying to settle with a new/another broker: If you have need of a demo account, then you should be able to get access easily and without much ado.
Many brokers fail in this regard. However, NADEX does not. The NADEX demo account is easy to own and use with zero limitation or stringent requirements. This is another reason, in addition to its unique CFTC-regulated and exchange status, why NADEX is a premium broker that is worth your time.