No deposit bonuses where you can earn money, like in sports betting, gambling and Forex, are very popular in most online industries. It took a while for this feature to become available with binary options traders, if you take into account that this speculative financial instrument first appeared on the market in 2008. The binary options no deposit bonus is extremely helpful for beginners who don’t want to invest their own money into something they are not familiar with. However, a no deposit bonus in trading also provides a lot of opportunity for successful traders not to risk depositing their own money, but instead to receive bonus money from the broker which could be turned into real money if the terms and conditions are being met. In our new article we are going to review a couple of no deposit bonuses available to binary options traders in 2017.
Who offers a No Deposit Bonus in binary options?
At the moment, there are not a lot of trustworthy brokers who will give you a no deposit bonus in order to familiarise yourself with their trading platform, or to actually start earning money. A no deposit bonus is currently available only with one broker which we tested, and it’s Ayrex. This broker is regulated in St. Kitts and Nevis only and doesn’t hold any licenses from CySEC or any other European financial commissions. However, we have traded with Ayrex for 3 months, used their No Deposit Bonus promotion and turned it into $90 in 30 days. Ayrex’s Binary Options No Deposit Bonus is only $30 and you really don’t need to deposit any money to start trading on their user-friendly trading platform. The minimum trade is $5, you can choose between short-term (60 sec to 5 min) and usual high/low binary options. Other than Ayrex, we haven’t currently seen any other good brokers, who would offer a no deposit bonus for its first-time customers. If we find any good financial companies, we will make sure to update this article
What is No Deposit Bonus?
For some people who have never heard of the term “no deposit bonus”, the concept seems surreal. Why would a company be giving away their money to new clients? A no deposit bonus could be described as a free bet which is given to you to test the platform or start earning real money with 0$ investment. A no deposit bonus in binary options varies from $5 to $30, depending on the broker, but usually is used more as a marketing feature of the brand, where realistically this bonus can never become real money. However, Aryex, which we mentioned above, is the only trading platform we are aware of that does not do this. A no bonus deposit is not very popular among binary options brokers, as it involves a lot of work for the broker who is still interested in you as a client who may potentially make a deposit even if he loses the no deposit bonus. There are a lot of pros for traders who are interested in “free real money trading” promotion:
- Free way of testing out the platform
- Psychologically it is easier to trade with someone else’s money
- No risks
- Opportunity to start earning with 0 initial investment
- Opportunity to start trading on a real account as opposed to a demo
- Opportunity to test out your trading strategy on a real account completely for free
As you can see there are a lot of pros with no deposit bonuses in binary options, but there is one down side. In order to withdraw the money earned from the bonus money, client needs to meet certain terms and conditions.
What are most popular No Deposit Bonus terms and conditions?
Terms and conditions of no deposit bonus promotions usually fall under the broad “Bonus T&S”, which is available on the brokers website. In order to withdraw a no deposit bonus the trader is asked to make a turnover of 30 or 50 volumes of the bonus amount. For example, Ayrex asks for 30 volumes, meaning that you will be able to withdraw your money only if your trading volume exceeds $900. Also, terms and conditions will usually put timing boundaries on the no deposit bonus, which is usually 30 days, but we’ve seen 7 days or even 90 days. Some other obligations or limitations you might experience when receiving No Deposit Bonus:
- Not allowed to deposit your own money to meet the criteria
- Personal information must be verified
- Your credit/debit card has to be verified
- You need to the pass KnowYourCustomer (KYC) procedure with the broker to be able to withdraw money
There is also an option to cancel the deposit, which could be helpful for some, who don’t like trading with $30, but want to deposit more money in order to follow basic money management rules which say that one trade should be no bigger than 2-5% of your total deposit. For example, with Ayrex you are already in a pretty bad situation, as you can place a maximum of 6 trades for the amount of $5 each, and if half of them lose you are already going to struggle to meet the terms and conditions.