First of all we need to address brokers. New ones are coming in this industry almost every day, but unfortunately it seems that a lot of them are not really serious. The positive thing is that regulation is growing, so it is the first sign to look for, when you are choosing with whom to trade.
Another unfortunate thing is that dishonest companies are often among those who offer a binary options no deposit bonus. On the other hand the positive thing is that when you trade binary options for free like this, you are not risking your own money. So if in the end you cannot withdraw, you are not losing what you have earned outside of trading.
But this the reason why we are saying that if you are really serious about trading, you should open an account with an established and proven broker. Binary options no deposit bonuses should serve rather as an option to try the whole thing, a sort of demo if you want. Because this industry is really still very instable and it is better to keep this in mind and not to be very disappointed when you get burned with a broker that is not regulated.
Honestly, a scenario where you would earn serious money and withdraw only with a free bonus seems very unreal. In order to achieve this you would have to be an experienced trader, but then how you could be one, as you are probably taking this opportunity to start your trading career? Before you get enough experience, you will probably lose your free deposit.
But it is fine, because it is not your own money. Plus you can get another binary options no deposit bonus with another broker and start all over again. But when you are truly ready, when you have a profitable system that you are able to trade successfully, go and open an account with a reliable broker.
But let’s go back to free trading. Always carefully read the terms and conditions before accepting a bonus, because you might be surprised with what you could face. The biggest hurdle is often a turnover criteria. Depending on where you open your account, you might have to trade the amount of the bonus 100 times before you are allowed to withdraw.
This is understandable, because the broker wants you to trade and not to withdraw the money that he is giving to you for free. On the other hand if this criteria is too high, you will probably never meet it. You have a chance only if you are an experienced trader that knows what to do. However beginners are more likely to lose the account.
But all this remains in line with what we are saying about binary options no deposit bonuses since the beginning. Use them for training, they are just perfect for that. And training is very much needed before you start to trade for real with your own money.