When embarking on a new adventure, being off to a flying start can mean the difference between getting there fast and not getting there at all. Trading binary options is no different. You know it all starts with choosing a binary options broker and setting up your account. Then you deposit your first investing money. Now it’s time to pay close attention, because most people oversee this important step.
Your Golden Opportunity
You may think that setting up your account is just a matter of filling out some details and depositing some cash to get you started, but many people forget that this is actually a first profitable opportunity, which many will not grasp. In this phase you can check what the broker is made of – and what the maximum financial gain is for you.
1. Do your research
For many reasons you should never sign up at a broker without conducting extensive research. You want to know the payout rates, the withdrawal time, and of course the bonuses.
2. Don’t take the first deal
Surprise: those bonuses you see are not the best you can get. If you fill out your details correctly, a good broker will have someone contact you, preferably immediately. This person is likely to be your personal account manager. He or she will help you get to know the platform and all the possibilities. Your account manager will also make you a deal. Usually there is some wiggle room, so play your cards right, and you may end up finding out just how much wiggle room there is.
3. Be willing to stretch your budget
Getting the best deal is a matter of give and take. Your account manager may throw in a bit extra, but this may mean you also have to throw in a little something more. If you want to negotiate the best deal, be willing to stretch your budget.
4. Only agree if you’re 100% sure
Are you satisfied with the deal? Then let your account manager know you’re good to go. It’s time to start trading, and that starts with a successful binary options trading strategy.