A Guide to Binary Options Bonuses
Any option trader worth his or her salt knows to look to binary options bonuses when determining which option brokerage to choose for his or her next account. While the amount or even presence of bonuses is not the sole determining factor – some option brokerages do not offer any – it can be a powerful reason to open up a new account with a given brokerage.
This article will explain how binary options trading can be made even more profitable and accessible through bonuses for opening a new binary options trading account or getting a friend to trade binary options with the same broker.
How Do You Earn a Bonus?
Most option brokerages out there offer incentives to get your business and have you open an account with them, mostly due to the competitiveness of the options market. It is to the point where what bonuses are offered and how much they pay are powerful incentives that can make the difference between broker A and broker B, C, and D.
An option trader can typically earn a bonus in one or two ways:
- Opening a new account and funding it with real money
- Referring a friend to the broker that opens a real money account
Most bonuses fall into the first category, and as such are the easiest to get – all you have to do is open an account and fund it with real money so you can trade binary options (demo accounts do not count).
How Much are Binary Options Bonuses?
The precise amount of a bonus depends on the brokerage you choose. Different brokers have different amounts – and this is ignoring those that offer no bonus at all (although this number has shrunk considerably over the past couple of years).
The amount of the bonus also depends on how much you deposit and what ‘level’ of account you have. If you trade binary options with a beginner or small-sized account, you could receive anywhere from $50 to $100 in bonus. Higher levels pay out higher bonuses, with some totaling as much as $1,500.
As you can see, an option trader can receive a great deal of money just by opening an account and fulfilling certain requirements that the brokerage has in place for the particular offer. In this way, binary options trading can be even more affordable and accessible to new traders and experienced ones alike.
Requirements to Withdraw Your Bonus
Of course, there are requirements and stipulations to just about every bonus out there. If there weren’t, you could create an account, deposit money, claim your bonus, and withdraw free money right away.
Before you can withdraw, most brokerages require that you make a certain amount of trades, or trade a certain volume of money. This is designed to ensure that you are an actual trader, not someone looking for a quick and easy buck. Most requirements are very reasonable, but of course, it pays to read the fine print when shopping for options brokers.