Avoid Accepting Bonuses That Are Too Good to Be True
Nearly every binary option broker offers a bonus, but it is important that you understand how the bonuses work. You should also avoid accepting a bonus that seems too good to be true. There are two main reasons that brokers offer bonuses, and they are below.
The idea behind offering bonuses is to make choosing that particular broker more appealing when compared to competitors. Brokers who offer exciting bonuses like something as large as 200% of your initial deposit returned expect you to deposit more in the hopes of a greater return.
Another idea behind offering bonuses is to keep your money tied to that specific broker platform. This means that you will have to meet a specific trade volume before you can remove any funds from your account, and that includes the initial deposit you make. Anything higher than 35 times the deposited amount, plus the bonus, is viewed as too high. Be sure to read the broker’s specific conditions for their bonuses.
We do only endorse professional traders and traders that are confident to reach the bonus terms to accept bonuses from a broker.
Fine Print is Your Best Friend
No one enjoys reading that small, hard-to-read print whether it be on a broker contract or the End User License Agreement involved in installing software. However, when it comes to avoiding a scam that fine print should be your new best friend. Read it thoroughly, and be sure that you agree with the terms and conditions before you even put your signature down. Some brokers can have outrageous terms like a minimum of $500 for withdrawal, a 30% inactivity fee, or the e-statements they send you via e-mail could cost you money.
Remember that information on a website is expected to be promotion and advertisement. If you saw something on the website that you do not see in the terms and conditions, chances are you will not be receiving it. Do not sign if you do not like the terms and conditions.
Learn from Others’ Mistakes
There is always someone that ends up falling for a scam at one point or another. This is why we makes it a point to review brokers for you. Remember that the internet is a fickle place, and there are websites where companies will pay just to get a positive review. The key is to read a review. do your own research, and make a decision based on the other tips offered above.