Yup, you can do Option trading in your demo account.

You will find Binary Options Broking site trading platforms have been made as easy to use as is possible, and in fact as you can sign up and start to use them via a demo trading account you will be able to put them fully through their paces before you invest any real money and start trading for real.

Before you are permitted to start trading Binary Options online you will have had to have reached your 18th birthday, not Binary Options trading sites are going to allow you to sign up and start trading at their sites until you are at least 18 years of age.

Approximately 55% of options are closed out before expiry, around 15% are exercised and around 30% expire worthless.

Yes. You can cancel your obligation as a holder or writer of an option by effecting a closing transaction before the expiration date.