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Do you use bonuses from brokers?

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Hi folks,

As I am newcomer to binary options trading, it is highly important for me to clear out some broker details, namely broker bonus. While registering account with hotforex optiontrade, I noticed an offer to use "Cashmatch" Bonus, but dismissed it. Now I feel a bit of regret, because it might turned up well for me. So if there are any well known pitfalls of broker bonuses you know?

Looking forward to your reply.

Comments

Toni H.'s picture

Hi Gurek,

I am not sure for all binary brokers but most of them offer bonus (50% - 100%) on deposit. The pitfall is that you need to reach a certain trading volume to request withdrawal on your bonus money.

For example you deposit $1000 and receive $500 bonus. At TradeRush you sign an agreement for your Terms and Conditions on the bonus. Let's say you sign for 30 times trading volume on your bonus that means you need to reach $15.000 volume to request withdrawal.

Losses and wins both count for the trading volume.

Losses will be deducted from your real deposit. ($1000)
Wins will count for your bonus money. ($500)

In the case when you request withdraw on your real deposit the bonus will be canceled.

I hope this was helpful for you.

Toni H.
gurek's picture

Thanks, now I understand how bonus works. And I also read optiontrade ToS and found that there are certain conditions applied to the bonuses offered. Finally I decided to trade one my own money, and I have to say that I made right choice regarding this broker.

gurek
pre-post's picture

Sorry but please tell me about the cashmatch bonus? Is it like bonus credit?

pre-post
Connor Bruce's picture

Not yet. I always stay away from brokers. Although brokers are sometime very useful that I know.

Connor Bruce (not verified)
Toni H.'s picture

what you mean stay away from brokers?

Toni H.
pre-post's picture

thanks for your helpful post. It's very clear and I think "cashmatch" bonus is like bonus deposit in your post.

pre-post
Anthony Stanley's picture

Gurek, You also check this https://ctoption.com/.

Anthony Stanley
Toni H.'s picture

how much they offer in bonus money?

Toni H.
pre-post's picture

I found out the conditions link of your bonus. Actually it's very common and easy to understand. Any broker would apply same conditions but your broker offer even 100% bonus deposit so I think you should take advantage on it (if you want).
http://www.optiontrade.com/en/funding/bonuses.html

pre-post
ArrianeS's picture

If you've tried PayPal and would like something different, you may like Dwolla. This cash-only service does anything but credit cards or debit cards. It's also less expensive than the competition. Use a personal finance to help pay your next PayPal payment.

ArrianeS