Binary Options Bonuses – Take it or leave it? -

Binary Options Bonuses – Take it or leave it?

Binary Options Bonuses – Take it or leave it?

Binary options have turned into a competitive market since the time it was first introduced. With every passing day, new brokers are entering this succeeding field. In order to keep up with the newer more advanced platforms, a new trend has been initiated in the market – binary options bonus. This concept has been new in the Forex world but has spread like wildfire.

Binary options bonus- a Common Complaint

Although there are many people utilize the bonuses offered effectively, there are some who are complaining on every other forum or review website that it is a scam. The reason behind this is that they consider it a gift for joining the broker. The first thought after seeing the words “100% bonus” is to avail it instantly. The rates vary from platform to platform.
The problems begin when people try to withdraw their money and the bonus after one or two tradeoffs. When they fail in doing OS, and rather than thinking the matter though start calling it a fraud.
The other common complaint is caused when people trade for numerous times, and when they believe that they have made sufficient profits; they try to withdraw the money. This also results in failure.

Restricted trading turnover

The main issue is that when people see the words “XX bonus” they think that this is a great way to increase their profit making ability. This is completely true. But what the investors fail in doing, is to read the terms and conditions of the platform. If you observe the terms and conditions, especially the bonus clause, you will see that the answer to your problem is listed there. Every platform has their own limit of trade off, which need to be completed in order for the person to be able to withdraw the money. Until the person trades that many times, he cannot withdraw any money, or sometime the profit, from his account.
Example
Let us assume that you joined XXX broker, which give 100% bonus on your deposit. You deposit $500, which you can trade 5 times under normal circumstances. That is the maximum you can use on their platform. In order to increase this ability of yours, you avail the bonus. Reading the terms and conditions you discover that trading turnover limit to be 2X. This means that you need to trade $500 i.e., the bonus amount two times before you can withdraw any amount. So, you traded it twice; but once you earned profit, while the second time you suffered a loss. Even if such an event occurs, you can still withdraw the money since you have traded it up to the prescribed limit.

Conclusion

Just because the competition has increased, does not mean brokers will give you free money to trade. Bonuses are not a gift, they are an incentive to provide you with a stable platform to trade and earn more. They motivate you to trade more. That is why if you are aiming to trade the number of trading turnovers prescribed then use it; otherwise leave it.

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