Binary options brokers offer two kinds of bonuses. Here we are mainly focused on binary options no deposit bonuses, so let’s see what is the second one.
The second type of binary options bonuses you can receive is a deposit bonus. It this case the broker will add some free money to your account when you deposit. This bonus can be pretty high, brokers often add up to 100 % percent, which means that they simply double your deposit.
Each broker has a scale for binary options deposit bonuses, the higher is your deposit, the bigger is the bonus. For smaller deposits the bonuses are about 20 to 30 %. You can reach a 100 % bonus with a deposit around $1000 or higher.
The advantage of a deposit bonus is that you can trade with free money. You deposit for example $1000 and with the bonus you get $2000 to your account. So you can trade partly risk free. The disadvantage of deposit bonuses is that you have to meet some turnover criteria before you can withdraw your money. You often have to trade 10 to 40 times the amount of your deposit, depending on your binary options broker.
For example if you deposit $1000 and have a turnover condition of 20, you have to make trades with the total value of $20.000 before you can withdraw. If you withdraw earlier, the broker can refuse to give you any profits, so you will just keep your initial deposit. It makes sense, because you used his money to trade too.
In any case think twice before you accept a binary options deposit bonus. If you are sure that you will trade, you can accept it, because you will meet the turnover criteria in some time and the bonus will mean free money to you. If you are not sure and if you are just trying to trade with any real plan, which is in any case not recommendable, do not accept a deposit bonus, because you could have problems with withdrawals, if you decide to stop trading early.