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We have all come across advertising of bonuses from brokers more than once , where they offer tempting and seemingly very favorable conditions for the first replenishment of the deposit. But what is hidden under the sweet promises? Do brokers really care about us so much that they agree to help traders increase their deposit for trading? Today we will deal with the types of bonuses, the nuances of work, things that they try not to talk about or write in small print.
As you know, under an emotional impression, a person ceases to think rationally. This is a natural drawback of our inherent mechanism of fast orientation in an unfamiliar situation. Of course, more advanced individuals have found ways to manipulate this condition. So, a fashionable psychological trick has come into use today, when the price tag for a product is set slightly less than a round number. Today, this is the de facto standard of the entire commodity industry, and everyone who neglects it has a deliberately losing position in a competitive market.
Bonuses have the same psychological impact, where first impression is the deciding factor rather than proof of practical benefit. Oddly enough, such a simple scheme works perfectly, and most people really do not think about the possible pitfalls of such a scam.
In the binary options market, companies offer several types of bonuses. If we consider the semantic meaning of the concept, the bonus should mean an extremely profitable offer. By pure irony, in some cases, such an offer is not only unprofitable, but also extremely harmful. Therefore, we will try as transparently as possible to assess the practical benefits of different types of bonuses and how to use them.
First deposit bonus
This is probably the most popular type of bonus on the BO market. Fresh blood is the most liquid commodity, and convincing the customer of superiority is the most valuable skill. Typically, the trader is presented with an attractive grid that motivates them to make as much money as possible. Want to get gold status? Unfortunately, from $ 100 on your deposit, only silver shines (names corresponding to marathon pedestals are a mandatory requirement).
Have you caught yourself thinking how, when choosing a binary options broker, unconsciously took into account the most generous promotional offers in comparison?
As a rule, a fairly generous bonus is given on the first deposit, averaging 100%. Naturally, you won’t be able to cash out the bonus right away – that would be too ideal. Usually, to convert a bonus into real money, you need to make 10, 20, 30 or more turnovers of the size of the bonus. However, some companies go even further. As a result, it may turn out that the bonus cannot be withdrawn in principle and even the earned profit will not be easy to receive.
Always read the terms of the agreement carefully! Almost everyone neglects this seemingly simple rule. But with each registration, you implicitly agree to all the conditions. Are you not at all interested in what to sign?
A common practice is bonuses for each deposit of funds (and not just for the first one). The size of such a bonus is usually less than the first deposit bonus and, again, depends on the amount deposited. The bonus grid in the same way motivates the trader to replenish the account for the largest possible amount. After all, obviously, the larger the bonus, the more money. Here lies the very invisible at first glance trap – the larger the bonus, the more difficult it is to work it out. That is, choosing a big bonus, you are driving yourself into a dead end.
No deposit bonus
Another way to get divorced is to attract new clients to your platform – a free trading account with a certain (usually small) amount. This is probably the most harmless type of bonus. In fact, the client receives for free a ready-to-use real account for a stress test of the author’s over-profit strategy .
The conditions for withdrawing a no deposit bonus differ from broker to broker. In most cases, it is not possible to cash out such a bonus. The same goes for the profit made. Also, a purely psychological factor comes into play. After all, free money weighs down the pocket and motivates the trader to trade aggressively and thoughtlessly. Therefore, in most cases, such a bonus is quickly lost.
In conclusion, I will give a little advice – do not use the bonus as an end in itself, it is not worth it. Considering that in order to withdraw the bonus, you need to ensure a trading turnover many times higher than your initial deposit, without a profitable trading strategy you will run out of money much earlier. The bonus can be used for its intended purpose, for example, as a security deposit (airbags).
Another tip is to always check the terms of the bonus promotions. Brokers often hide terms by taking advantage of the magical power of small print. Yes, you have to work hard just to understand what you are subscribing to, but this knowledge will justify itself more than once in the future.