Bonus with nasty surprises
Most binary options brokers lure with attractive bonus programs, which gives binary options trading a slightly negative touch and is often equated with gambling. After all, such bonus programs have been around for a long time at online casinos or online bookmakers.
Basically, it is not a mistake if a bonus is used to start trading with more capital. However, traders should first deal with the bonus conditions of the respective broker. A broker has nothing to give away, which is why the bonus amount has to be wagered x-fold before it is “free” and a withdrawal of the amount can be requested.
It is very common for traders to accept a bonus without first finding out about the turnover conditions and then experience a nasty surprise when the bonus is paid out. Out of frustration, reports about the fraudulent activities of the broker hailed in relevant forums. But there can be no question of fraud here, because nobody is forced to accept such a bonus.
The only thing that brokers can be accused of is that the turnover requirement is too high and cannot be met.
Caution: If a broker demands more than 50 times the bonus amount, it is strongly discouraged to claim the bonus. Typically bonus amounts are subject to 25x to 40x wagering.