Bonuses were generally unheard of a few years ago, and when brokers eventually started offering bonuses to traders, it was mostly forex brokers who took the lead. These bonuses were deposit bonuses, which required a trader to make a minimum deposit which would then be matched by the broker as a bonus. The degree of bonus given was usually in the measure of the deposit, with higher bonuses going to traders who were able to deposit larger amounts of money.
The problem with these bonuses was simple: no deposits, no bonuses. However, some binary options brokers have broken this rule and now offer traders no-deposit binary options bonuses. With these bonuses, traders who probably did not have money to get a meaningful bonus from their brokers can now enjoy the same benefits as they would with the deposit binary brokers.
Advantages of No-Deposit Binary Options Bonuses
The following advantages can be obtained from using no-deposit bonuses:
a) They allow traders who have no access to capital to enter the market.
b) Live accounts holding no-deposit bonuses are the ultimate demo account. No matter how much of simulation that traders can obtain from a conventional demo account, traders never really give demo account trading with the seriousness and dedication it deserves. This is eliminated with a no-deposit bonus in a live account. It changes the mood and the psychology of the trader, knowing that the money being used to trade is actual money that can yield profits when used.
c) They offer a risk-free way of testing the waters of the real market.
Now that we know the advantages that a no-deposit binary options account offers, what brokers can give traders the best no-deposit bonuses?
a) GT Options
GTOptions offers a free, no-deposit $100 bonus to traders who sign up with some of their affiliate partners. There is usually a link that directs traders to the account opening form. Once the account is opened and verified, the trader is credited with $100 in the live account.
iOption is another broker that offers a no-deposit bonus worth $100. This bonus is made available in three steps:
- signing up to open a new account with the affiliate link at Intellitraders. A unique code will be given to the trader.
- use the Live Chat function on the iOption website to communicate with the customer support desk at iOption, where the trader is expected to provide the trading account number and the unique code obtained in the first step.
- after 48 hours, the trader’s account is credited with $100.
There are other no-deposit bonuses given by binary options brokers, but these are generally less than $50 and not worth the trader’s time.