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When choosing a binary options broker, one of the key factors that many investors bear in mind is the availability of promotions and bonuses of which they can take advantage. There are several types of bonus offered by the best brokers in the business, with some being offered on first registration and others being offered to loyal clients in order to encourage them to stay faithful to the company. Taking advantage of these bonuses allow investors to enjoy even greater profits from their trades.
Types Of Bonus
While there are several varieties of promotion available to traders today, there are two main types which are offered to both new and existing clients.
These are generally paid when the trader places their first deposit into their account. Normally, the amount paid will be a percentage of this initial sum, although the proportion can go up as high as 100% (in which case it would a deposit match promotion), usually depending on the size of the first deposit. This gives the investor twice as much money with which to trade. This promotion type is usually aimed at new customers in an attempt to encourage them to sign up for the broker's services. Often, there will be a short time limit on this type of promotion too to encourage a newly registered customer to make a fast trade.
No Deposit Bonuses
This promotion type is often very appealing to clients because it requires no payment on their own behalf. Acting in a similar way to a demonstration account, it allows an investor to try their hand at the broker's platform without risking any of their own money.
The Benefits Of Bonuses
Promotional offers can be very beneficial to the trader as they can boost their account funds exponentially. It is important however to check the terms first to ensure that you can meet the criteria through your normal trading pattern, otherwise there is no point in accepting the deal. There is never any obligation to accept a promotional offer, however if you know how to use these extra funds and are confident that you can meet the terms of the deal, you can benefit financially from this asset.
The Downside Of Bonuses
Although promotional offers may seem very attractive it is exceptionally important to read all of the terms and conditions before jumping in. In order to withdraw profits from a promotional offer, the investor will often have to have a very high volume of trades and therefore checking the turnover requirement is essential before making a financial commitment. Some investors who only trade with small amounts or infrequently may find that they can never have a high enough trading volume to withdraw their profits from their account.