Each and every binary options broker is going to require new traders to make one deposit in order to start trading. Minimums do usually apply. Aside from these funds, there is no other cost associated with trading. Quite the opposite actually, as there are several ways to boost your account funds without spending any extra money.
Bonuses are the best way to get free money from digital options brokers. Almost every broker in operation offers some type of bonus. In most cases, the amount of bonus money you receive is based upon the size of your very first deposit. This is why many traders decide to make an upfront deposit that is much larger than the minimum. Some brokers offer bonus amounts totaling thousands of dollars. Keep this in mind when making decisions about your first deposit.
Have some friends or family members that would like to trade binary options too? Then you just might be able to gain extra money via referral bonuses. Some brokers will provide you with a specific link to send to anyone who is interested in trading. Your friends and family can use this link to visit the broker, complete the registration process, and make their first deposit. When this has been completed, your broker would then reward you with a referral bonus. Check with your brokers to see if this type of program is in place.
Another possibility is that you could be given access to higher returns when you have a higher tier account with your digital options broker. Not all brokers have more than one account type, but should yours, you are in the position to take advantage of a number of extras. Should higher profit rates be one of these, then it is certainly worth considering opting for a higher tier account. In most cases, these accounts can be accessed by submitting a larger first deposit, something you might want to do anyway when bonus funds are being offered.
These are just three possible ways that you might be able to load your binary options account with free money. Each of the above mentioned promotions may or may not be offered by your broker. Do keep in mind that there is no rule that states that you’re limited to only one broker. New traders will want to be careful about creating more accounts than they can easily keep up with, but there is no harm in teaming up with 2-3 brokers as a way to get the most out of your trading experience.