Hello, boy or girl. You want money, don’t you? Yes, I know. You want gifts. You want to press two buttons on the Internet and get paid for it – a great job, considering you haven’t done any work on the regular. You’re looking for a place to make easy money, so that you don’t have to do anything and so that a wad of green bills keeps growing in your pocket, right?
And you know what? We’re not as smart as we think we are. In fact, all the brokers know what we want. How else do they know? They’ve created entire companies for the sake of people like us. For those who have the desire – to make money out of thin air. They know us and our passions, they know you, yes, you, as “complex” and “unique” as you are weird. Our passions are at your fingertips.
They know that you’re a guy in flip-flops. That you don’t have enough money, your salary is small, you don’t like the job you’ve got. That you got into this market because it’s easy. That you’ve accumulated loans, mortgages and are now trying somewhere, miraculously, to find simple earnings. Guess what these companies do? They give you a sweet treat. It’s called a binary options bonus.
These bonuses come in a wide variety. And most of the poor boys and girls who come here for money don’t ask a simple question – where does such generosity come from? Why would a company give them money? What are binary bonuses generally needed for?
Oh, my little darling. All these bonuses, promotions, contests are created with a very simple and lucrative goal for the broker. Let’s talk about that here, all the advantages (there are also) and the many disadvantages of binary options bonuses.
Who offers bonuses
All of them. All binary and Forex offices, without exception, in one way or another give bonuses in the form of promotions or new deposits into an account. Some people think that the bigger the bonus, the easier it will be to work later. That’s a joke really.
The essence of the bonus is very simple. We put $100 into the account and receive a 20% bonus – in other words, we are “gifted” $20. The total value of the account is 120 dollars. However, now it’s very important to pay attention:
To withdraw money from the deposit after receiving the bonus, you need to make a turnover in the amount of the bonus.
The turnover is the sum of all trades, positive and negative. In other words, your bonus needs to be worked through. Normally you need to work 30-50 times.
If you received 20 dollars, their turnover should be, for example, 20 * 30 = 600 dollars. And only after reaching this turnover will the money be withdrawn. And not just in relation to the bonus, but in general.
You need to remember one thing. When you receive a bonus, all your money in the account is blocked. All of it. Not just bonuses. Until you’ve made a certain amount, you won’t be able to withdraw any money from the account at all.
Once again: you can’t withdraw money from the account, in general, until you reach an amount in the bonus funds.
All this is explained in black and white in the broker’s rules. This is exactly what all newbies, without exception, face when they receive a sweet gift, without understanding why they are receiving it. And they give it under such conditions.
So before you do anything, find out the conditions under which this “something” is provided.
To receive bonuses or not
What is volume? This is an opportunity not to go negative for many trades. What are the chances of a beginner trading consistently, if not an advantage, at least not a strong disadvantage? Very slim.
Therefore, beginners don’t need to receive bonuses.
If you are confident in your skills, have already worked and withdrawn money from the binary platform, you can easily master the turnover and, with its help, increase your deposit. But if you’ve just started getting acquainted with binary options, you don’t need any bonuses.
Types of Binary Options Bonuses
There are many binary companies on the market now. Everyone has encountered them. Imagine that – there are more than 800 binary offices on the market, already bursting at the seams, for a long time. How can they compete in such a wild crowd? Marketing budgets, of course. And the promise of unrealistic things.
So finding a broker is not a problem. Finding a reliable one is the issue. And most of them are literally tracing each other’s paper. The same training materials, conditions, carbon copy regulations and two invariable buttons.
Bonuses are a way of standing out and attracting inexperienced flesh, which can be draining. Here we’ll discuss the main types of bonuses you can find.
Invitation bonus or first deposit bonus
This is offered by almost all binary offices, without exception. As soon as you replenish your account, the broker immediately posts a bonus, sometimes up to 100%. However, as a rule, they don’t award more than 30-50%.
But the conditions are exactly the same as described above. To withdraw this gift, you need to make a turnover of 20 to 50 times on the bonus funds.
That’s not surprising. Imagine you deposit $1,000 into your account and receive $500 as a bonus. What are you going to do the next day? Exactly, immediately withdraw that money and spend it all in the nearest pub. Then you repeat this procedure and bam – you’re a bonus millionaire.
Great. Of course, turnover was introduced precisely to prevent such a scam. Until you make a certain turnover, you won’t see the money. However, the main pitfall with these bonuses is that you won’t be able to withdraw anything until you do. And it doesn’t matter how much money you have in your account – normal, not bonuses.
Imagine you put money on deposit in some office, received a bonus, traded a bit and? you don’t like the office.
What happens? Nothing. You simply can’t take the money. And the broker will helpfully tell you, “the turnover is 30 times according to the rules”. That’s why you have to read the conditions for these bonuses carefully.
Eternal or ongoing bonuses
This bonus doesn’t have a clear name, but its essence is obvious – with every account replenishment you automatically receive a bonus. It’s like the chains that bind you, whether you like it or not.
As a rule, the value of this bonus is significantly lower than that of an invitation bonus. Some companies, however, allow you to refuse an unsolicited bonus – and otherwise you’re faced with a terrible office and can only sympathize. But not much – because you clearly haven’t read the broker’s rules regarding such bonuses.
You haven’t read the rules – so you suffer. Fair enough.
No Deposit Bonus
Another mega-popular bonus that newcomers are constantly looking for. This is just a freebie squared, you don’t need to invest any money, it’s given to you by default. What kind of generosity is this?
As a rule, this bonus is very small – a few tens of dollars and is of interest only to very poor pupils or students. However, there is a great danger associated with this bonus.
A no-deposit bonus is often used by fraudulent companies.
For them, it’s the easiest way to attract a customer. What’s the secret? A no deposit bonus is given to a naive kid along with a special account where the kid will succeed. A bit of juggling with the quotes and that’s it – you win.
Inspired by such a gift, a person deposits real money and then their fairy tale ends. The scheme is very simple and clear.
There are also more honest no deposit bonuses, however, they are small, and their turnover usually needs to be done 50 to 100 times. Freebie is a freebie.
Gift bonuses
This gift bonus is temporary. Issued from time to time as part of some action, holiday or something. In addition, they offer the opportunity to win various special prizes or even a higher bonus percentage.
As a rule, managers will try to shove this bonus down your throat, they will constantly call and inform you that you need to replenish your account immediately in order to receive this temporary bonus, because it is only valid until tomorrow.
You can’t be fooled by this, gift bonuses are distributed as normal.
Special bonuses
A type of gift bonus. For example, a broker may offer you this to “double” your winnings during a promotional period. For example, if a trader places 10 bets of the same amount, the broker will double their income, if they have any.
These bonuses are granted under special conditions and you are obliged to familiarize yourself with them in advance. Unless, of course, you want to sell bonuses with the need for a 500x turnover (such precedents have already happened, imagine that).
Risk-free bonuses, also known as As offers
Risk-free offers are a simple proposition. Boy, trade, and if you lose money on the next few trades, we’ll simply give you your money back. No risk at all!
Well, yes, that’s pretty much it. The money that is “returned” to you becomes a bonus and the turnover condition for its withdrawal is activated. So consider these gifts as another way for you to get hooked on the bonus needle.
Deposit insurance
This is the same risk-free bonus. You will be refunded if your bet is unsuccessful. But then all the money in your account automatically becomes a bonus. And, of course, they’ll have to make a big turnaround.
Educational bonuses
There’s no money in it. As a gift, you’ll receive a free book (usually pretty stupid) or some kind of webinar. The condition is that you replenish your deposit.
Sometimes these webinars are quite reasonable and teach you the basics of technical analysis, but most of the time they’re useless garbage. It’s just bait to get you to put money into the account.
Bonus for a friend
That’s what it all comes down to: you bring a friend – you get a bonus. In this case, as a rule, a friend must make at least a few trades on the platform, otherwise the bonus will not be activated.
Trading contests and competitions
This isn’t exactly a direct bonus, as you have to take part in the competition to receive it. However, that’s the gist of it. A very common pattern.
As a rule, in these contests you don’t trade with your own money – you get a special account with virtual money. Then, if you win, it turns out that this money won is bonus money and you have to take a chance with it.
However, serious companies don’t abuse this and offer realistic conditions. For example 50 dollars and a turnover of 3-5 times, which can be done in one day.
This is an example of good bonuses that make sense to use. You work for virtual money and the rewards are real. Getting money out of greedy companies is a very difficult task.
VIP bonus
Well, that’s entertainment for the rich. The point is clear. Top up your account with 100,000 dollars and get a huge bonus or some such. Or some gifts, like a personal manager, the ability to withdraw funds in 10 minutes and so on.
I don’t know anyone who would be able to invest money in binary companies, it’s pointless – with such amounts you need to go to Forex and, even better, to the stock exchanges.
Bonus: good or bad
What is good for a Brazilian is death for a German (c) Bonuses are a simple thing:
- a way of draining money from newcomers;
- a way for an experienced trader to increase their trading volume.
Experienced people usually receive bonuses because they understand that they can “recapture” them. Newbies take them out of greed and naturally lose them.
That’s why everyone gives bonuses – to trap a newbie on the platform, to stop them from withdrawing money until they take a chance and so on. What’s more, newcomers don’t want to read the terms of service and – just look at them – they believe they get money that way.
Wake up, Ze Carioca! Nobody in this cruel market is going to give you anything. Ever. So if you do get a bonus, make sure it’s granted according to special rules that you should know about.
And don’t listen to managers who will tell you stories over the phone in a confident voice. As soon as they receive your money, their interest in you will evaporate dramatically.
So think twice before taking any freebies. And don’t say afterwards that you weren’t warned.
How to use bonuses correctly
Now let’s discuss what to do if you still like this idea – earn 20-100% gifts on your account. To do this, you
- you need to read the bonus rules;
- understand what turnover in the amount of the bonus needs to be made;
- you have to be prepared to do serious work.
Don’t get big bonuses
Don’t chase large sums. The larger the account, the harder it is to work with it, as numerous psychological factors come into play, such as the psychological deposit limit, and so on.
So try a modest bonus – no more than 20%. And make sure the deposit amount is small too, up to $100 maximum. With this amount, try trading on the account and see the result.
Money management for bonus turnover
Money management is a simple rule, the observance of which allows you to minimize your risks.
The easiest way – the size of the transaction should not exceed 5% of your deposit. For example:
If your deposit is 100 dollars, the size of 1 transaction should be no more than 5 dollars. Better still, 2-3 dollars.
This is how you limit your trading risks. In binary, psychological money management is also important. And it’s very simple:
Stop trading if you have 2 or 3 bad trades in a row.
Stop torturing the animal and let it go. You don’t understand the market at all. There’s no need to double, triple, try to make up what you’ve lost. The market is telling you straight up – man, you don’t know. Your predictions are wrong. So:
- you have to stop humiliating yourself;
- accept paper trading or demo trading;
- back to real work when you’ve made the same 2-3 successful predictions on the chart.
That’s when faith in your strength will return – then you’re back to trading for real money. As you can see, the rules are very simple and clear.
Don’t rush with bonuses
Don’t try to make this curve faster. Do you think the market cares about your wants or needs? It means you.
Take your time, work according to your system and then everything will work out. But you should know that even without me, if you’ve chosen a bonus. Don’t forget – bonuses should be used by experienced traders, not children who heard things about binary options or Forex yesterday.
