Binary options bonuses provide intriguing possibilities for both starting out and advanced traders alike. With the market booming you will find that this is one of the most competitive areas in the binary options industry.
These binary option bonuses are catered for the needs of levels of trader and can include cash giveaways, prizes and vactions abroad.
Binary options bonuses - the real deal?
Primarily binary options bonus types are providing free money. Of course we know that virtually any offer of free cash comes along with a set of requirements.
Whether you decide to accept the bonus or not will depend upon how much leverage you want to work with, how much risk you intend to manage and exactly what your trading goals are. Bonus offers can greatly enhance a trader's position. The possible returns can be greatly increased as compared to those made if the trader is only investing with their own money. The downside is that while prospective earnings can be much increased, the potential for loss is also magnified. For those of you just looking to have a little fun and entertainment trading with greater leverage amounts is probably not recommended.
Let's now take a look at the types of binary options bonuses at work in the market today
Types of bonus on offer
No Deposit Bonus
A no deposit bonus is a kind of reward offered to a nem user upon registration with a broker. These are generally very popular bonuses as they do not require the trader to deposit any more in order to access it.
Deposit Bonus
Like before this bonus comes as an additional amount added on to the account, but instead an initial deposit is required before the deposit can be accessed. The difference with this bonus type is that it can be used over and over by new users and regular participants alike. This bonus is also known as a reload.
Welcome Bonus
When a new user opens a trading acount with a broker the Welcome bonus can be accessed. Participants are, in addition, required to make a deposit. Bonuses are then measured as a percentage to be added to the funded amount. Once a welcome bonus is claimed and used it canot be claimed for again.
Risk Free Trade
Risk free trades are hugely popular amongst traders of all levels. Typically brokers offer the user a set number of free trades. Risk free, literally means without risk - the trader can invest using the brokers finances; if they win they keep their winnings and if they lose - well, nothing ventured, nothing gained!. Both the number of risk free trades and the amount that can be traded with each one varies from broker to broker, so do shop around for the best deal.
Mobile binary option bonuses
Mobile trading is one area of the industry that has grown hugely over the last year or so. Often mobile bonuses can be offered as a promotion of a broker's trading app to encourage users to download and install the mobile version of their trading platform. As these type of promos can be offered to all customer, new and old, the mobile bonus is similar in form to the deposit bonus.
Refer a friend bonus
This is very popular among binary brokers as it it costs them very little and helps them to build up their client base easily. All the user has to do is to promote the brand and they receive a percentage in return of either the new users initial deposit amount or earnings. The friend that is being referred also profits, as he can benefit from the welcome bonus on offer.
Bonus codes
These usually come in the form of a reward after a user has carried out an action on the platform. This could include opening a particular email, clicking on a specific piece of marketing material or contacting your account manager.
Other bonus types
Additional bonuses can come in the form of rewards for loyal users or traders who invest large volumes of capital. Typically these type of bonuses come in the form of packages which can include prizes and personal account services. These are not usually advertised on a broker's site, so it's worth always checking with customer services to see what incentives they have on offer for regular users.
Useful extras
Demo account
The demo account is an invaluable tool for beginner traders as it allows the user to test out both the platform and their trading strategy before trading for real. They are open for use for set time periods, some brokers offer short access times such as 24 hours or 48 hours, others may offer up to two weeks access. So if you plan on taking your time to test out your trading strategy bear this in mind.
Binary bonus withdrawals
All bonuses are used as advertising campaigns and come with set trading requirements. These are put in place to protect the broker from malpractice and are usually found to be worded as follows:
*A bonus cannot be withdrawn if it leaves the funding account empty
*After accepting a bonus the trader is required to be active on the platform for a certain amount fo time
*Users are required to have traded a set amount of funds before a bonus amount can be withdrawn
Typical conditions that come with binary option bonuses
Here are some common requirements that come with a bonus offer:
- Roll over your deposit and bonus a certain number of times (usually 20-40)
- Account withdrawals can only happen after the brokers rollover conditions are met
- No withdrawal of initial deposit at all, only withdrawal of profits made
Always take care to understand the brokers terms and their implications when you open an account. This is to safeguard yourself from any malpractice on the part of the broker and to protect you from committing yourself to an arrangement that you will be unsatisfied with at a later date. Usually on a binary option brokerage site you will find a page dedicated to their bonus conditions. To be 100% up to speed on all of the specifics make a call to the broker's customer support services.
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Source : articlesbase.com
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