Binary Options Bonuses; The Good, The Bad and The Ugly
Bonuses are one of the most visible aspects of binary options and one of the most misunderstood. On the one hand they are an addition of money to your account, a thank you for trading with us, that can enhance your returns and increase your leverage. On the other hand they can be restrictive and used for fraud in order to keep your money locked into terms. Terms are where the differences in bonus types really stands out. The most common are added directly to your account at sign up, have high turn over rates and prevent withdrawals of your deposit as well as any profits you may have made. The good news is that not all bonus terms are the same, some brokers actually use them as a reward for trading and not as a tool to lock up your money.
- A bad bonus will prevent you from making any withdrawals, will have a high turnover rate, could have a time limit and may be added to your account automatically, without your approval.
- An ugly bonus may not prevent your withdrawals, but a withdrawal will likely the cancel the bonus. Terms could be reasonable but if include the bonus plus your deposit may end up higher than a bad bonus. There may or may not be time limit and you may have to request it when you sign up but once received will tie up account balances until terms are met.
- A good bonus will not prevent your withdrawals, allows withdrawal of profits and/or deposit, has no time limit, does not have to be requested and is usually given after terms are met.
I won’t waste your time pointing out all the brokers that have bad or ugly terms. You know them when you see them, they are the ones pushing you into a deposit so you can get a great bonus, and they can get your money. Instead I am going to focus on the top three brokers that understand what traders want in a bonus and have created terms to match.
#3 HyOption – HyOptions is an offshoot of HyMarkets, a popular forex brand, and is CySEC regulated. It is built on the SpotOption platform and is fast becoming one of the most respected of that line. Bonus turnover is 40X and there are some withdrawal restrictions but they are quite easy compared to most other brokers. If you do not meet the 40X turnover and make a withdrawal you will cancel the bonus money, but you will keep the profits if there are any.
If you meet half the turnover, 20X, you can withdraw your profits if you leave the deposit and bonus amount in your account. Minimum deposit with this broker is $100 with a $10 minimum trade size. Click here for the Geek’s review of HyOptions.
#2 Binary.com – Binary.com is an interesting broker operating on its own proprietary platform. They support up/down, one touch and range trading with a unique approach. Their options trade in a 0-100 style like ladders, Binary100 and NADEX binary options with an all or nothing payout. The bonus terms are quite easy but amounts are small compared to other brokers, in the range of 25% to 50% in most cases. Bonuses must be requested at time of deposit but they are not paid out until the terms are met.
Turnover is only 5X the bonus amount so a match of $25 would require only $125 in trading volume. The downside is that this bonus is a one time affair, additional deposits do not qualify and once made the initial deposit must remain in the account until the turnover is met. This is also a low deposit broker, $10 minimum, with a $1 trade size. Click here now for the Geek’s Review Of Binary.com.
#1 MarketsWorld – MarketsWorld is one of the oldest and to be honest, one of the most trustworthy, brokers on the market. They are regulated by the Isle of Man GSC, they accept US traders, they have a low minimum deposit and the absolute best bonus terms of any broker on the market. They treat a bonus as it should be, as a reward for trading volume. There are at least 5 types of bonus monies traders can qualify for, all have similar terms but I will focus on the first deposit cash match in this case. Bonus money is held in a separate account and not released until terms are met. Terms are 50X bonus amount, high but mitigated by other factors.
Your deposit is always available for withdrawal, as are any profits earned. Withdrawals of deposits and/or profits will not negate the bonus. Additional deposits, if needed, can be added in order to help traders reach the turnover amount. Once released bonus money belongs to the trader and is immediately withdrawable. Basically, MarketsWorld lets you trade, deposit and withdraw at will, when you reach turnover limits bonus monies are awarded with absolutely no restrictions on your deposit balances. Click here for the Geek’s review of MarketsWorld.