Trading binary options can be quite lucrative. But there is a way to make binaries even more profitable: a binary option bonus. This is a free cash gift that you get from a binary options broker for trading. Sounds too good to be true? Yet it's real. In this article you can read how.
What is a binary option bonus
A binary option bonus is a gift from your broker, a free cash amount. This bonus is usually in the form of a percentage that you get on top of your first deposit. For example, if you make a first deposit of 500 dollar with a binary options broker offering a 30% welcome bonus, you'll get 150 dollar on top in your new trading account. When you deposit 1,000 dollar, then your bonus is 300 dollar, and so on.
It's not the case that you can do what you want with this amount. Otherwise it would be too easy to make a deposit, get the first-deposit-bonus, and then withdraw all your money and leave again. The deposit bonus is intended for trading and to practice and try out the software of the broker.
Therefore certain restrictions usually apply. For example, you must make a minimum number of trades, before you can withdraw your bonus from your account. This way, the broker ensures that only serious option traders get a bonus.
Why do brokers give away free money
The binary option market is very competitive. There are several binary option brokers who compete with each other to get you as a customer. For sure, the serious and active trader is a very sought after customer, because the more transactions you make, the more the broker earns.
To attract potential customers, brokers like to give away something in the form of an extra 'offer'. This can be a free demo account to try out their software, a small amount of risk-free trading, or a bonus on top of your first deposit. That last one is what we are interested in here.
The best bonus
The bonus amount that a broker is willing to pay you usually depends on the size of your first deposit. The size of your deposit is an indication for brokers of how serious you are as a trader. So the higher the deposit, the more serious you come across as a trader and vice-versa. At a higher initial deposit, you can expect a higher bonus. So, what the best bonus for you is depends on your first deposit amount.
The table below makes clear what the best bonus is, based on your first deposit.
|1st deposit||Best bonus available||Broker||Link|
|$0 - $299||No bonuses available|
|$300 - $499||20% on top of your first deposit||Klik hier|
|$500 - $999||your first 3 trades risk free||click here|
|more than $1,000||100% on your first deposit, no maximum (!)||click here|