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There are many ways to participate and speculate in financial markets worldwide. Advances in technology are also opening us up to many more innovative ways. One such way is by trading binary options. Binary options are a financial instrument (called derivatives) that allows a trader to trade on the directional movement of financial assets’ prices. In other words, binary options allow its traders to “bet” on whether an asset’s price will increase or fall. Trading binary options can be lucrative (in fact, very lucrative) and fun. Still, we must also note that it can equally be challenging and sometimes frustrating. Added to that is that it involves a very high amount of risk, and you can lose all your capital.
Does that mean you should avoid trading options? Of course not. Your entire binary options trading journey can be much stress-free if you trade with a credible and reliable broker. One of such brokers is OlympTrade, one of the best binary options brokers out there that boast an array of unrivaled services and offers to traders on their platform. This is quite evident in the number of awards that they have garnered over time. For instance, OlympTrade clinched the Best Broker award at the Forex Expo 2017 and the Best Trading Platform by the Forex Awards in 2018. Likewise, OlympTrade is also one of the most regulated brokers, with a membership of the International Financial Commission.
One of the many ways in which OlympTrade makes life easier for traders is through its trading bonuses. A trading bonus is an amount of money that your broker adds to your deposited capital to trade. It is important you note that this is not the same as a demo account. In a demo account, the money is virtual, literally “fake.” On the other hand, trading bonuses are real money and are usually given as a result of your deposited capital. The benefits of a trading bonus cannot be overestimated. For example, a trading bonus can make your account stronger and enable you to take up more risks, resulting in more probable profits.
Types of OlympTrade Bonus:
OlympTrade provides a variety of bonuses to clients which can be summarised below:
1) Welcome Bonus
Just for signing up and depositing for the first time, you receive an OlympTrade bonus. OlympTrade gives you a 100% bonus for deposits ranging between $10 (the minimum deposit allowable for an OlympTrade account) and $200.
You have to go on to the OlympTrade website and sign up with your details, deposit before you can claim your bonus.
Points to Note about the Welcome Bonus
- The OlympTrade welcome bonus is only valid for 1 hour (60 minutes) after you are granted. As such, immediately you register and deposit, you get credited with the bonus, but you have got only 1 hour to make use of it, after which it is removed. This, of course, is not suitable for you if you are a longer-term trader.
- You cannot convert the bonus given into cash. It is meant for you to trade only.
- The bonus is only designed for new traders who are opening their accounts for the first time.
- It is much advisable that you sign up via a computer. It has been noticed that OlympTrade bonuses work better on PC.
2) Deposit Bonus
Throughout your ‘career’ as a trader on OlympTrade, you get a bonus anytime you make new deposits into your account. The percentage of bonus you get depends on the amount you deposit. Typically the bonuses range from 20% to 50%, with the percentage you earn increasing with the amount you deposit. As such, a higher deposit attracts a higher percentage as a bonus.
A summary of the bonuses is given below:
$100-$499 – 20%
$500-$4,999 – 30%
$5,000 or more – 50%.
Some points to Note
- There are no bonuses for deposits below $100.
- Just as in the Welcome Bonus, bonuses are not withdrawable.
- Bonuses are used up if you make withdrawals.
Both the Welcome Bonus and Deposit Bonus can be referred to as nominal bonuses, expected to be given to everyone provided they sign up or deposit the right amount. However, there are other types of occasional bonuses.
3) Competition Bonuses
OlympTrade frequently holds contests and competitions on its social media platforms, especially Facebook, to test knowledge and proficiency in trading and winners, are selected. It is mostly meant for its currency account holders. The typical bonus is 30% of the winner’s current account balance, although there have been higher payouts. Consequently, it is strongly advised that you follow OlympTrade’s social media handles and join trader communities to be aware of when these contests come up.
4) Holiday Promo Bonuses
It is common practice for OlympTrade to give bonuses during international holiday seasons. These bonuses are usually meant for deposits. Bonuses given during these times are usually more significant than you can typically get. To take advantage of this, you have to follow OlympTrade’s social media handles, to get updates when the bonus offers are advertised.
Meanwhile, OlympTrade offers other types of perks and specialised services that don’t function as bonuses in the form of additional capital. However, they are still benefits that make your trading easier. One of such is risk-free trades. Risk-free trades allow traders to reclaim amounts they lost on a trade in a wrong prediction. In essence, if a trader has access to risk-free trades and makes a wrong trade, the amount lost will be returned to his account by the broker. OlympTrade provides risk-free trades for holders of its Expert Status account automatically. To hold an Expert Status account, you need to deposit at least $2,000 as trading capital. However, holders of the lower account types, i.e., Starter and Advanced Status accounts, may also become beneficiaries of this by winning special promo offers.
Conclusion of the Olymp Trade Bonus
We can rate a broker’s credibility based on how much effort it puts into making the whole business of trading much more accessible and comfortable for its clients. This, especially, can be observed in its arrangements to provide ancillary services including giving trading bonuses. In this regard, OlympTrade is one such highly rated broker.