Do we really want a bonus?
Do we really want a bonus?
Customer: A bonus … Humm, that is a good thing, isn’t it.
Broker: Yes, more money for you. We will double your deposit.
Customer: Ok, yes … I will deposit $1000.
Broker: And we will give you a $1000 bonus.
What the customer does not know is that every bonus comes with “terms and conditions” … Few weeks later, the customer wants to withdraw some money. … And then …
Broker: sorry, withdrawals are not allowed because you have not met the requirements …
Customer: Requirements for what ? It is my money ..
Broker: Not really, did you read the terms and conditions for the bonus we gave you ?
Customer: …… Not I did not .. What are those?
Broker: You have to trade for an equivalent of 40 times the value of the bonus, in your case $40,000
Customer: What happen if I don`t do that?
Broker: We will take back the bonus and all associated earnings
Customer: #$@&%*!. Please tell how do I cancel my #$@&%* account?
Broker: I am sorry you are not happy with our professional services. If you stay we us we will give you a Bonus on your next deposit
I bet this sounds familiar to some people out there … It actually happen to me and I was upset and I lost money … but, then I took the learning, and I took it for me and now I am telling you ..
Stay away from the bonus !!! … or at least be very much aware of the associated terms and conditions.
We are doing Binary Options trading for some extra money and also for fun … and you see some brokers taken all that away and on top of that giving “all the brokers online” a bad reputation…
That is stupid .. Do you agree? … These guys are basically using the internet against them … I mean .. People talk, right?
But, wait a second … let`s give these “bad brokers” the benefit of the doubt .. Let`s try to make some sense out of this
They would say that bonus are created to keep customers happy and trading, they are mainly designed to maximize profits with the broker taken away some of the risks to make customers more comfortable with trading Binary Options…. But, it does not work that way … why?
Not only is the broker, the customer is also, at least, partially responsible, because the bonuses have a side-effect … they make trading look easier and less risky, which actually increase the probability of losing money for the customer.
I believe some brokers who still insists in bonus and tough conditions are not thinking this properly.
On the other hand, other brokers are working closer to customers, creating strategies, looking for opportunities, highlighting market events, providing signals … I think this is the right way and it is more respectful of the customer interest in trading.