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One issue that many traders have with their binary options brokers is that they do not provide demo accounts. Indeed, in the early years of the binary options market, there were hardly any demo accounts. However, the new generation of binary options brokers such as Porter Finance has changed all that. Porter Finance provides its traders with binary options demo accounts. This it has done to encourage traders to perfect their strategies and practice binary options trading before hitting the platform to trade with real money.

What is a binary options demo account all about? A binary options demo account is an account which mimics a real money account but only has virtual money which can be used for the purpose of simulated trading. The primary reason for providing traders with a demo account is to enable them to improve  their trading experience by practicing trade setups as well as to enable them to understand how to use the trading platform. Porter Finance has provided a demo account for its traders and if you are a trader, you need to know how to maximize this feature.

Types of Demo Account

Demo accounts in binary options are of two types:

• Free unlimited demo accounts
• Limited demo accounts

A free, unlimited demo account as the name implies is a virtual trading account which does not require a commitment by the trader to deposit funds into a live account before a demo account is provided. Only very few brokers allow this.

In contrast, a limited demo account is provided to the trader on the condition that the trader opens and deposits money into a live account prior to issuance of the demo account. Most binary options brokers that provide demo accounts for their traders choose to make use of a limited demo account in order to get users to commit to opening and funding a live account. While there is no defined clarification on which demo account type is better than the other, it is very clear that using a demo account which has to be tied to a live account gets traders to take such demo accounts a lot more seriously. This is the type of demo account offered by Porter Finance.

What Can You Do With a Porter Finance Demo Account?

There is a purpose to every demo account seen on binary options platforms and when you get your Porter Finance demo account, you need to understand what to do with the account. Do not forget that this account has a time limitation, therefore you must maximize the use of your Porter Finance demo account as much as possible.

• You can have a look at the entire platform from Porter Finance and practice using all the functions on the site. For instance, you should practice how to place orders, close trades, and use other functions such as the Roll Over, Double Up, etc. Before you trade real money on the Porter Finance platform, ensure you know all the functions that pertain to the trading process. You can only do this from a Porter Finance demo account without putting real money at risk.
• You can practice using your own robots and strategies on the Porter Finance website. There is some automated trading software that has been configured to work especially on the Porter Finance platform. Using a demo account for a test run again helps you optimize your trade robots and strategies without risking any of your hard-earned money.
• Having difficulty with some of the less popular trade types? You can use the Porter Finance demo account to do an in-depth study of these trade types and actually get to practice them on a demo account.
• The demo account is also used for historical studies of price movements. Are you a binary options educator looking to get some material for your training courses? A Porter Finance demo account is just what you need. You can take snapshots of the charts, the trading engine and also capture trading robots in action from your Porter Finance demo account.

Porter Finance Minimum Deposit

In order to get access to a Porter Finance live account in the first instance, you need to open and live account and make an initial deposit. Therefore, you should have some idea as to what the minimum deposit for your chosen account type is.

The minimum deposit on the Porter Finance platform is $200. This is for the most basic account type on Porter Finance. In order to make this minimum deposit, you need to use any of the transaction methods that are offered on the Porter Finance platform to make this deposit. Some of these deposit transaction methods are as follows:

• Bank wire transfer.
• Credit or debit cards issued by MasterCard, Visa, Carte Bleue, Visa Electron.
• E-payment methods such as Skrill (formerly known as Moneybookers).

Please note that Porter Finance offers a multi-currency platform and therefore it is possible to perform transactions in Euros, Australian Dollars, US Dollars, Canadian Dollars and British Pounds. Therefore, when using a demo account on Porter Finance, set the account currency to reflect the currency that you will be using for live trading.

Porter Finance Mobile Trading on Demo

Does using a demo account on Porter Finance work on the mobile platform? The answer is yes. Those who own a demo account can also use it on a smartphone or tablet device. Therefore, traders can also use the Porter Finance demo account to practice how to trade on-the-go.

How to Get a Porter Finance Demo Account

How can you get access to a demo account on Porter Finance? Follow these steps to get yours.

1. Open a live trading account on Porter Finance and fund it with the minimum deposit amount of 200 units of the base currency of the account (i.e, the currency in which the account is held).
2. Once you have funded the live account, contact the customer service of Porter Finance and request specifically to have a demo account opened for you. You will be sent the demo account login details once approved for same.

There are many benefits to using a Porter Finance demo account, so make sure you apply for one once you sign up with your live account and deposit funds there.

References and Further Reading:

1. Detection and prevention of duplicate trading transactions over a communications network (Richard Hartheimer, Michael Coleman, Chris Klepka, Geoffrey Poole)
2. Trading options before Black-Scholes: a study of the market in late seventeenth-century London (ANNE L. MURPHY)
3. Future bioenergy trade in the EU: modelling trading options from a cost-effectiveness perspective  (Julia Hansson, Göran Berndes)
4. Wind power trading options in competitive electricity market (S.N. Singh ; I. Erlich)
5. Stock simulation engine for an options trading game (Cynthia Ann Klein, Lawrence Scott Berlin, Timothy J. Kostolansky, Jaime Rockwell Del Palacio)
6. The Interrelation of Stock and Options Market Trading-Volume Data (JOSEPH H. ANTHONY)
7. Closing a Loophole: Insider Trading in Standardized Options (Steven Thel)
8. The Impact of Options Trading on the Market Quality of the Underlying Security: An Empirical Analysis (Raman Kumar, Atulya Sarin, Kuldeep Shastri)
9. Optimal Replication of Options with Transactions Costs and Trading Restrictions (Chanaka Edirisinghe, Vasanttilak Naik and Raman Uppal)
10. Insider and Liquidity Trading in Stock and Options Markets (Bruno Biais , and Pierre Hillion)
11. Trading costs for listed options: The implications for market efficiency (Susan M. Phillips Clifford W. Smith Jr.)
12. O/S: The relative trading activity in options and stock (Richard Roll , Eduardo Schwartz , Avanidhar Subrahmanyam)
13. Does options trading lead to greater cash market volatility? (Arjun Chatrath, Sanjay Ramchander, Frank Song)
14. Method for virtual trading (Benny Iggland)
15. Internet-Based Virtual Stock Markets for Business Forecasting  (Martin Spann, Bernd Skiera)
16. Computer-implemented securities trading system with a virtual specialist function ( Timothy M. Keiser, Michael R. Burns)
17. A theory of money and financial institutions. 28. The non-cooperative equilibria of a closed trading economy with market supply and bidding strategies (Pradeep Dubey, Martin Shubik)
18.  Social games, virtual goods (Samuel Greengard)
19. Real-Money Trade of Virtual Assets: Ten Different User Perceptions  (Vili Lehdonvirta)
20. Explorations in Heterotopia: Local Exchange Trading Schemes (LETS) and the Micropolitics of Money and Livelihood (Peter North)