No Deposit Bonuses
No deposit bonuses are the preferred choice as they allow you to trade without risking your own money.
Many brokers offer bonuses, and they take many forms. No deposit bonuses, however, do not require you to add any funds, and this is great for new traders. This means you can register and receive your money. By using the free bonus, you can make some mistakes knowing that it isn't going to cost you personally.
In this article, you will learn:
- Why many traders are favouring this bonus
- How to use your free no deposit bonus
- What to consider when choosing your broker
How to Use Your Bonus
So, you have signed up to your binary options trading account and received your no deposit bonus. Now you need to make sure you spend it wisely. Let's take a look at the best way of using the bonus:
Get Familiar With The Platform
You may choose to use the funds to get familiar with a platform and try out both the web platform and the app. Making sure that you are happy using the platform in a live trading environment will ultimately improve your trading experience. While many brokers offer a demo or virtual account, which you should take advantage of, it's never quite the same as trading for real.
Place Your First Trades
Nothing beats the buzz of trading using the live environment. Take this opportunity to place a few low-value trades with no risk. Using the funds wisely on small trades will allow you to gain real experience and reduce your risk of making mistakes when you start to trade with your own money.
Some traders who trade wisely and play the long game can make the bonus money go a long way and build up a decent amount of capital without it costing them a penny. The long game method takes patience, a strong will and careful, calculated trades. If this sounds like you then you could benefit enormously from a no deposit bonus.
Build Your Confidence
For those of you who are a little hesitant about trading and want to build up your confidence this type of bonus allows you to make your mistakes while learning. You may be undecided on which assets to trade on and be struggling to make a choice between gold and currency for example. Using the bonus to trade on both will allow you to decide before you start trading with your own money.
A no deposit bonus is an excellent introduction to trading for new traders or those looking to switch brokers and try a new platform. It allows you to familiarise yourself with the various aspects of trading before you risk your own money.
Why Brokers Offer Deals
It may seem like an offer that is too good to be true but why do so many brokers now offer a no deposit bonus? Well, the answer to that is quite logical and straightforward. By providing funds to new account holders, the binary options trading broker is minimising the risk to the trader, therefore, enhancing their chances of that trader opening an account with them. Just put the trader is getting something for nothing and can dip their toe in the water without it costing them anything.
You may be considering entering the field of binary options trading and be keen to trade on a specific asset. You may be studying and researching the types of trade that you want to make and how often or how much you will be trading. As keen as you may be you are probably feeling wary of risking any money without knowing what you are doing. If there was a way to try before you buy you are much more likely to take advantage of this.
After experimenting with binary options no deposit bonuses, traders are more likely to continue trading and start investing their own money, developing advanced techniques and strategies. Brokers essentially want people to trade with them, and by offering such a low-risk incentive, the account holder is more likely to choose to trade with them and make a deposit to their account. It's an investment by the broker into potential account holders.
Bonus Information Overload
Finding and choosing one broker is complicated enough but if your brain is whirring now with the possibilities of signing up to multiple brokers to take advantage of numerous bonuses then stop and consider how beneficial it may be in the long term. If you are new to trading and keen to learn the ins and outs, you will find that signing up to multiple platforms will lead to confusion and perhaps not be as helpful as you may think.
Each binary options trading platform is unique and offers different trading features. Each mobile platform will be different, and the layout of where to find things won't always be the same. Some will have apps to download, some won't, and some won't even have a mobile responsive website.
Signing up to multiple platforms will mean you have a lot more information to take on board and a lot more factors to consider. We recommend finding one broker by using our helpful reviews and guides and getting to know that platform. Spend your time getting to know everything you can about that particular platform and how to navigate around it.
This means you can simply register for your account and receive your bonus.
We Show You The Best Deals
We have done a lot of the work for you by bringing you only the best when it comes to binary options trading brokers, but there are some things you should look out for if you decide to do your research. Being attracted by the bonus alone is not a reason to choose a particular broker.
Some so many brokers offer these no deposit required bonus types that you are spoilt for choice so what can you to narrow your selection?
We have researched the market place and looked at many of the bonuses on offer from various brokers to bring you the best choices when it comes to the best option for you. We use our extensive knowledge and experience to review each broker and each aspect of what they have to offer. By doing this, we help you make an informed decision giving you a better trading experience.
Frequently Asked Questions
How do I find the best no deposit brokers?
The trick is to look at our recommended brokers and see what bonuses they are offering. You may be able to find brokers elsewhere that offer better rewards, but they aren't necessarily better brokers.
Can I withdraw my profit without problems?
With binary options trading accounts you must turnover your initial deposit a certain amount of times before you can withdraw profit if a bonus is involved.
Do these bonuses have any limitations?
Although you can open up and start trading on either a demo account or a real money account, you will not be able to withdraw any profits until you have deposited real cash and turned it over a specified amount of times.
Are all no deposit brokers safe and trusted?
We are happy to put our name to any of the brokers we recommend as we have thoroughly checked them, reviewed their features and processes and tried and tested them ourselves.
Can I have more than one no deposit account?
Yes, you can! If they offer a no strings bonus, then you can take advantage of this and test out the different platforms to see which one works best for you.
Jacob has been an author for us since our launch in 2012. He has over forty years’ experience in the financial sector and has held a variety of positions within financial services corporations and venture capitalist organisations.