LottMarket Demo Review
LottMarket is one of the latest technology developments in the binary industry and has many new features that need to be tested.
To start trading with demo money, you need to deposit $300 or more.
The LottMarket trading platform has some new features to offer, and it is best to try them with demo money first.
How to open a LottMarket demo account
Like most binary brokers, there is no option for demo registration on the website. You first need to open a real account, and then, you can receive an additional demo account.
When you register your real account, you will need to talk with your account manager via phone or Skype and let him or her know that you wish to trade on a practice account first.
The minimum deposit for a real account is $300.
What are the new features at LottMarket?
- Currency crossings: Use two drop down menus with assets that you can cross to create pairs
- Custom target prices: Add or deduct pips to the current market price
- Custom payouts up to 200%: Increase or decrease your return according to expiry and target price
- Single and multi-touch options: Advanced touch options with expiry time up to four weeks
- Customize range options: Set high price up to +200 points and low price down to -200 points
Why start trading first with a demo account at LottMarket?
As on a standard binary platform, you can trade at LottMarket with fixed payouts, but you can also customize your payouts according to your target price and expiry time.
If you are a more experienced trader, you will most probably use the custom feature, which allows you to modify your payout from 1% to 200% for each asset.
The payout will increase or decrease according to the expiry time and the pips you add/deduct to the target price.
Assuming this software is new to your binary trading, it is beneficial to test all the features with demo money first, which is why LottMarket gives you the possibility to open a demo account.
Vanilla options (Call/Put)
For example, you trade EUR/USD with the current market price and one hour expiry. Your payout for Call and Put options would be equal (let’s say 80%).
If you believe the EUR will gain positions in the next hour, you can add 50 points to the current market price, and your payout for the Call option would increase to 90%.
In the opposite scenario, you think the USD will add value, so you deduct 50 points from the current market price, and you gain a higher payout for the Put option.
Let’s say you trade Apple Inc., and you set a range of +50 points for High target and -50 points for Low target. Your payout for ten days expiration could be 68% for a Touch option and 93% for a No Touch option.
If you change the expiry time to seven days, your payout for a Touch option could increase to over 120%, and accordingly, the payout for a No Touch option would decrease.
In our scenario, we traded USD/JPY and we set a range of +100 points for High Price and -100 points for Low Price. With two days expiry, for the price staying IN the range, the payout is 157% and OUT of the range is 38%.
If we changed the expiry to seven days, the IN payout would increase to 200% and OUT would decrease to 11%.
Thus, you can experiment on the platform until you are comfortable and start profiting. LottMarket software is smart, and it is worth spending some time trading with demo funds.