If you decide to start trading with a no deposit bonus, you should know a few things about these bonuses. Don’t worry, there aren’t any catches, just some logical consequences.
Free bonuses mean free money, so you cannot expect that a broker will give you a no deposit bonus that you could immediately withdraw. Certain conditions apply.
The main one is that if you want to withdraw from an account that you started with a binary options no deposit bonus, you have to reach a certain turnover. It means that you have to make a certain amount of trades before the broker lets you withdraw money.
It varies from broker to broker, but usually you have to trade at least 15 times the bonus amount before you can withdraw. It means that if you receive a $100 binary options no deposit bonus, you will have to make trades with a total turnover of at least $1500.
It is an acceptable protection for the broker, because he gave you free money for trading, so he wants you to trade. But it should not be a problem if you take your trading seriously. You want to trade in order to have an income, so you should meet this condition in a few weeks at last.
Another condition before withdrawing from a trading account started with a free no deposit bonus is a deposit. Brokers often want you to deposit some money before they let you withdraw. Again, this should not be problem. You can trade with your bonus and when you make some profits that you want to withdraw, you deposit and withdraw immediately after.
The last important condition for withdrawals is that you have to have a verified account. It means that the broker will ask you for a proof of identity, such as a copy of your ID card and copy of an utility bill to prove your address. This is absolutely alright, it is a anti money laundering regulation imposed by the law. Forex or futures brokers ask for all this when you open an account, binary option brokers ask for it only before the first withdrawal.
These are the main things you should be aware of when taking advantage of binary options no deposit bonuses. It is important to read the Terms & Conditions before you get an account with a binary options broker.
Now you can take advantage of a free binary options bonus.