You are green, inexperienced and want to make some money from Binary Options. Basically they will add a certain percentage of your deposit to your account: To be fully entitled to claim the bonus a trader has to reach a certain trading volume sometimes called a bonus requirement.
This bonus requirement is usually calculated by multiplying the bonus amount by 30 or even 40 so for each dollar received as a bonus, you will have to turnover 30 or 40 bucks. If you received a dollar bonus, you will have to trade or dollars. Of course this differs from broker to broker but it means that the higher the bonus you get, the harder it will be to be claim it. Pick Binary Options brokers with a lower bonus.
A minority of outlaw brokers has stained the growing band of Binary Options trading. These crooks are out there to take advantage of innocent traders who only want to enjoy the fruits of Binary Options. Many Binary Options reviewers and bloggers exist to help traders avoid these kinds of frauds. My suggestion is to deposit with a trusted broker, and then use the Demo Account for learning before actually trading.
Too many people simply jump into live trading and put their hard earned money on the line without learning first. If you have the option to use a Demo account, take it and make the best of it. Learn first — risk your money later. If you lose your first Demo account, think how you would feel if that were real money… not good, I bet.
Important information about withdrawals, bonus turnover requirements and other restrictions can be found in this section in which every Binary Options broker must publicize. Whenever you open an account with a binary options broker, you have to agree to their Terms and Conditions.
Now why would you do that? Read the contract first! I know it can be tedious and time consuming but I believe trying to get your money back from a scam broker can be even more time consuming and frustrating. The required documents can differ from broker to broker for example some will only accept a bank statement, not a card statement, etc.
Brokers are required to ask for these documents to certify you are who you say you are. Make sure you have and provide these necessary documents before you make the deposit.
This is just the tip of the iceberg, the beginning of your journey and I believe you are in the right place because we cover almost every aspect of trading throughout our website. Our School provides almost all you need to know about binary options and the other sections of the site offer the rest.
Binary Options That Suck. Please be noted that all information provided by Binary Options that Suck are based on our experience and do not mean to offend or accuse any broker with illegal matters.
The words Suck, Scam, etc are based on the fact that these articles are written in a satirical and exaggerated form and therefore sometimes disconnected from reality. All information should be revised closely by readers and to be judged privately by each person.More...