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.
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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 …
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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:Â #[email protected]&%*!. Please tell how do I cancel my #[email protected]&%* 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
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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.
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The beginning of this page caught my attention-even though I don’t have a clue about binary options. It engaged me to find out more. I continued down to the actual blog and at that point there were a few things that lost my attention. First, I found some grammar issues. That will send me away because the formatting keeps the reader reading. Spelling and commas make the writing flow and avoid distraction. It was distracting, and for me, it says something about the author-like the author doesn’t care enough to proof his work. Getting through that-I really wanted to move forward and see what this is all about. The issue seemed very unfair and I felt the need to learn, even though I’m not involved with this type of income. Overall a nice job!
Thanks for your comment and feedback. I am not a native English speaker and I constantly trying to improve. I will see ways to improve my writings.
Interesting article about a bonus. I have definitely learnt not to take up the bonus now due to your very informative article and I am sure you have saved me from a lot of headaches in the future if I did take a bonus. I will be sure to check back soon to get more tips.
Andrew Ngan
Thanks for your comment
Hi there,
Now I know what some brokers are hell bent of giving away bonuses. Customer retention. As long as they keep a customer spending they keep making revenue, regardless of which way the market turns!
Quite clever and manipulative of them! Stick your bonus – thank you very much!
I have traded in binary options before and did ok. Without a doubt, you need to have practised a fair amount with a demo account else risk wiping out your real money account.The problem with this industry is that its full of unethical brokers that are blatantly after your money and can lead people into traps. The trading platforms could easily be slower than the actual stock markets platform which is scamming. I used 24 options before and they seemed legit. Do you have any recommendations for any good brokers?
Ryan, the brokers in my Brokers Reviews section are all regulated and recommended.
You can see they are only 4. In other websites, you see a lot of brokers and all “recommended” .. let’s start with that.