By Ines Matkovich - April 27, 2: CySEC regulated brokers can no longer provide binary options bonuses! Many traders get seduced by amazing bonuses offered, and this is another time when golden rule proves itself right once again: Bonus rules are provided by good and bad brokers alike, so the pure existence of rules is not providing any insurance at all.

Understanding every aspect of trading as well as terms and conditions is of crucial importance for every trader. Bonuses, funds rewarded to traders after making a deposit, are often considered free money, but they are everything but that. This lucrative offer can bond the deposited amount to the broker, and the trader can have difficulties when withdrawing if he lacks a basic understanding of the bonus terms or the said terms are not clear.

Before accepting any promotion, it is always recommended to read terms and conditions to avoid any speculations and problems later. Before spring , bonuses were often used as a way to prevent a trader from making a withdrawal.

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Scam brokers were handing them out, and traders were accepting them without much thinking. Unfortunately, some traders have received bonuses without their prior acknowledgement, so CySEC was forced to introduce a new set of rules.

Read more on CySEC bonus rules. According to CySEC, no regulated broker is allowed to add a bonus onto trading account without prior written permission. This protected many traders, but not those who are trading with unregulated brokers. For this reason, it is always recommended to trade with regulated brokerage companies like those on Top List. Sometimes account managers put additional pressure on traders in order to convince them that bonuses are all nice and fun. Traders must always remember that they should have the final say.

Before accepting an offer read terms and conditions carefully and then make your decision. Things that every trader should pay attention to are:.

Account manager and brokerage staff have a tendency to do all the convincing part via phone call, as it is harder to track what is going on, especially when it comes to scam brokers. For this reason, always insist on written correspondence via email.

That way trader can take his time before making a decision, read all terms and conditions, and then, request an offer that can again be estimated for some time. Some brokers have Bonus Terms known also as Bonus Rules, or Bonus Terms and Conditions as a standalone document while other have it integrated as a part of general terms and conditions. Traders should keep in mind that there are several types of bonuses, and here are few that are the most frequent:. Bonus awarded when the trader makes the first deposit.

The bonus amount is usually calculated in percentages, depending on the deposited amount. The required turnover is usually calculated like with any other Deposit bonus. Bonus awarded on every next deposit made. It is mostly calculated by using the formula mentioned lower in the text.

In most cases, the required turnover is between 20x and 40x. There can also be additional conditions for profits withdrawal, like an active account with a deposit made before the request is processed. Bonus awarded when the traded recommends a friend who makes a deposit.

The amount is usually symbolic: It can also come with additional specific rules or higher turnover attached. Before accepting it, make sure to understand what rules apply. This way, if the trader loses the money in those trades, the amount is not taken off the deposit, but covered by the broker.

Also, every promotion advertised by the broker has specific rules. It is hard to accentuate enough, that no trader should accept any type of promotion or bonus without a complete understanding of the rules applied. When it comes to respected and honest brokers, all bonus terms are usually found in one place, no matter the bonus type, so traders can easily make their decision. In most cases, trading volume is easy to calculate in case trader knows basic bonus terms.

The formula for calculating the trading volume is mostly explained in bonus terms and conditions. The withdrawal can happen only in case a required trading volume has been reached. When the trader has reached the volume, the amount bonus profit and deposit can be withdrawn. Unfortunately, every forum dedicated to the binary options has at least one topic opened by someone who has been scammed by accepting the bonus.

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And while their disappointment and rage are totally understandable, it is important to understand how honest brokers provide all necessary information on bonus rules. Banc De Binary warned all traders about problems that occur with bonuses. After traders try to withdraw their money, they find themselves standing in front of the wall, as broker often declines not only the withdrawal request but any type of communication too.

You can read some stories on bonus frauds below. One of the first scams we interacted with was LBinary after one reader wrote about her case. No matter how much she tried to convince her account manager and customer support to stop, it was impossible. There was no written proof of her accepting anything, and the broker simply took advantage of the customer. Find out more about this case. Some brokers, like MyOption, are trying to avoid talking about the withdrawal, in case the trader accepts the bonus.

In this case, the trader got a bonus without knowing what the terms of bonuses are, and every attempt to contact the broker was futile.

Even after FBO tried to straight thing out, it was impossible to get any sensible answer. The trader was told that bonus can be canceled at any moment, and the deposit is withdrawn fully, but the reality was much different. Learn about it here. Such stories repeat in media every now and then, as scam brokers are always around, and new traders join the binary fever each day. In order to protect your funds from dishonest brokers who operate under unclear conditions, make sure to select the broker that suits you.

This website is independent of binary brokers featured on it. Before trading with any of the brokers, potential clients should ensure they understand the risks and verify that the broker is licensed. The website does not provide investment services or personal recommendations to clients to trade binary options. The potential client should not engage in any investment directly or indirectly in financial instruments unless s he knows and fully understands the risks involved for each of the financial instruments promoted in the website.

Potential clients without sufficient knowledge should seek individual advice from an authorized source. In accordance with FTC guidelines, FairBinaryOptions. Binary options trading entails significant risks and there is a chance that potential clients lose all of their invested money. Your capital might be at risk. Investment Rating Your capital might be at risk.

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Bonus Terms and Conditions in Binary Options. Bonus rules are provided by good and bad brokers Here is the list of things one should pay attention to.

Understanding the Bonuses According to CySEC, no regulated broker is allowed to add a bonus onto trading account without prior written permission. Things that every trader should pay attention to are: Required trading volume or required turnover Duration of the bonus How the bonus affects deposit withdrawal? How is the trading volume calculated? How are the profit and loss calculated after the bonus is accepted?

Keeping things in writing is a precaution in case something goes wrong anytime. Bonus Types Traders should keep in mind that there are several types of bonuses, and here are few that are the most frequent: Initial deposit bonus or Welcome bonus Bonus awarded when the trader makes the first deposit.

Deposit bonus Bonus awarded on every next deposit made. Refer-a-friend bonus Bonus awarded when the traded recommends a friend who makes a deposit. However, the profits made don't automatically belong to the trader, but also require turnover in most cases. How is the Required Volume Calculated? True Stories on Bonus Scams Unfortunately, every forum dedicated to the binary options has at least one topic opened by someone who has been scammed by accepting the bonus.

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Unauthorized bonuses One of the first scams we interacted with was LBinary after one reader wrote about her case. Impossible withdrawals Some brokers, like MyOption, are trying to avoid talking about the withdrawal, in case the trader accepts the bonus.

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