The world of binary options trading is a fast-paced, competitive environment, but the competition is not amongst the traders themselves, but the binary brokers. With so many traders out there looking to make money off of binary options, new brokers are popping up all the time to try to grab a piece of the trading action. One of the ways that brokers try to entice new customers is by offering generous binary options bonus cash to traders like you, absolutely free! Here is a look at the different kinds of binary options bonuses and how they work.
The most common type of binary options bonus is the binary options welcome bonus. These bonuses are offered by brokers to new traders who open an account with them for the first time as a method of advertising. For new traders, these binary options bonuses are fantastic because we are not talking about a mere five or ten dollars in bonuses; some brokers offer thousands of dollars in free binary welcome bonus cash!
Brokers who offer a binary options trading bonus for new members require that you create a new account with them and then make an initial deposit. They will then credit your account with bonus cash equalling a certain percentage of your initial deposit. For instance, a broker might offer a 100% binary welcome bonus. That means if you deposit $100, you will be given another $100 immediately, giving you $200 to trade with, right away.
With these binary options bonuses, the more you deposit, the more you get free, up until a certain capped amount. So if the maximum bonus of 100% is $500, you can still make a deposit of any amount you like, but you will not be credited with more than $500, even if you deposit more than that.
A binary options deposit bonus is a way to get you to deposit real money and start trading, not a way for you to get some quick, free cash from a broker and disappear. That is why brokers require you to make a certain amount of trades before you can withdraw that bonus cash. For instance, you might have to make 20 times the bonus amount in order to release the bonus. That means that if your binary options deposit bonus was $100, you must make $2,000 worth of trades in order to clear that money, and allow you withdraw it. This helps prevent fraud, and entices new traders to make trades.
A few brokers offer a no-deposit binary options welcome bonus, where they will give you a small amount of cash just for signing up. These work on the same principle as deposit bonuses, but you don’t actually have to make a deposit. These kinds of binary options bonuses are rare, and usually for a small amount of money, but occasionally you can still find them.
The last kind of binary options deposit bonus is a bonus offered on subsequent deposits by existing customers. While it is great to get a new customer, it is even better to keep one that you already have. So brokers offer a binary options deposit bonus for additional deposits, though it is usually much less than the first deposit bonuses offered; but on the positive side you can take advantage of these bonuses over and over again.
Binary options bonuses are a fantastic way for new traders to get extra funds to trade with, as well as a way for veteran traders to try out a new broker and pick up some free cash while doing it. These bonuses change rapidly, and you should always check with us to find the most current, highest possible binary options bonuses on the internet.