In order to attract new customers, many binary options brokers offer sign up bonuses and other financial incentives. In order to get the most from your trading, especially at the beginning, it is critical that you peruse these bonuses to see how they affect you. While bonuses are nowhere near as important as a consistent long term trading strategy, they can give you an extra boost at the start of your trading journey.
The amount of cash you are awarded for opening an account will depend on the platform you are thinking of joining. While not all brokers offer incentives to new clients, bonuses are typical with some brokers as they are used as a promotional instrument. Depending on the broker and the time of year, it is not out of the question to be offered a bonus that is up to 100 percent of your deposited amount.
While welcome bonuses are only available when signing up to a broker for the first time, it is not unknown for new traders to sign up to multiple brokers and use the welcome bonus from each as part of a hedging strategy. This is a risky and complex procedure for new traders, however, and should probably be avoided unless you really know what you are doing.
While bonuses are worth chasing in some situations, it’s much more important to choose your broker based on important information like fee structures, reputation, and licensing. While a welcome bonus might give you a short term lift, it’s always best to make your decisions based on more enduring information. Welcome bonuses are often advertised through brokers as part of a larger marketing scheme, and may also be available on request.