Binary Options Tips for Beginners
1. Brokers that gives the highest bonuses are not necessarily better
Bonuses are used to leverage the initial investment, but there is a price to pay for taking them. When a broker give you a bonus, it means that in order to make a withdrawal and to be fully entitled to claim the given bonus a trader has to reach a certain trading volume. Each broker save for itself the rights to determine the restrictions for the requested minimum trading volume. Usually, the higher the bonus you get, the harder it will be to be claim it. Make sure you are getting all the information about the bonus conditions before accepting it.
2. Avoid Binary Options Scam Brokers
Some binary brokers has stained the entire Binary Options industry. These brokers are out there to take advantage of innocent traders who only wanted to trade Binary Options. There are many Binary Options reviewers and bloggers that try to help traders avoiding these fraud brokers.
3. Demo Accounts – Practice brings perfect!
Most Binary Options Brokers don’t offer a free demo account, but there are some brokers that do allow you to have a demo account and practice. Once you have found a trusted broker that allow you to have demo account take the time to practice and understand how trading binary really works.
4. Terms and Conditions – even if you are not a lawyer take a look
Sometimes when reading the T&C of a broker you might find very Important information about withdrawals, bonus and other restrictions that can be found in this section in which every Binary Options broker must share from legal aspects. Hence, it does not mean that you need to read the whole T&C, just look for the important stuff your needs and make sure they are mentioned in the Terms & Conditions.
5. Prepare to share your documents – mainly for future withdrawal purpose
One of the most important Binary Options Tips Before making your deposit, verify with your broker what documents are needed in order to make a withdrawal. Don’t be worried about sharing these documents as they actually protect you.