Redwood Options Demo Account
There has been a lot of debate lately about how helpful that demo accounts actually are to those that use them. Critics argue they use up a lot of precious website bandwidth, they don’t mimic actual trading on the website closely enough and traders do not use them to trade like they would their own account because it’s not real money the users are trading with.
Those in favor of using demo accounts say they do enough to help new traders get the basics of binary options trading, help traders of any experience level acclimate themselves to the website and also do all this without the investor risking a dime of their own money. It is a debate that will probably go on for some time and both sides have a valid argument. Redwood Options leaves it up to their many customers to decide for themselves.
If a site offers a demo account they usually are free of charge to the customer and available once they make their initial deposit. Many binary options trading sites eliminate the need for demo accounts by offering their investors a low initial deposit requirement. The minimum deposit required on Redwood Options is only $200, so they have got new customers covered there too.
A demo is only one small part of educating binary options traders to be successful. Other learning tools such as informational online seminars (webinars), handy and resourceful eBooks, helpful blog tips, recent market news and other educational learning tools help too. Redwood Options is well aware of the fact that the more knowledge that they help a trader gain, the better chance that trader will have at being successful.
So when it comes right down to it, the pros and cons of whether a demo account helps or not are irrelevant because they are only a small percentage of the learning tools that websites such as Redwood Options offers. Despite the fact that many people feel that demo accounts teach a trader to limit risk, it is good old common sense and the fact that binary options trading lets an investor see what they stand to profit or lose on the trade before they make it that really limits risk.
Although a website having a demo account may be important to some people, experienced traders know that the heart of any website is the trading platform itself. Redwood Options has chosen to run their website with the highly popular SpotOptions software. This software is 100% web browser based so there is nothing else to buy or download in order to use the website. It is a program that is popular because it makes the trading platform on Redwood Options extremely easy to learn and use.
Signing up for the site is also very easy and it only takes a few minutes to fill out a form and then once accepted to pay at least the minimum deposit in order to start trading. Once an investor is on the website they can then choose to take advantage of all the free learning tools or go straight into placing trades right away.
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References and Further Reading:
1. The rush to free trade in the developing world: Why so late? Why now? Will it last? (D Rodrik – 1992)
3. Catching the wave: alertness, responsiveness, and market influence in global electronic networks (A Zaheer, S Zaheer – 1997)
4. Optimal monetary policy in closed versus open economies: An integrated approach (R Clarida, J Gali, M Gertler – 2001)
5. The geography of equity listing: why do companies list abroad? (M Pagano, AA Röell, J Zechner – 2002)
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