Similar to with most types of investment trading, binary options platforms will require users to deposit at least some amount of money prior to making any trades. In many cases, these platforms will post a minimum amount of deposit to be made, as well as a minimum amount to be placed on options trades.
Options for Depositing Money on Binary Option Trading Platforms
Most binary options trading platforms will offer traders numerous alternatives for making money deposits. Some of these may include:
- Credit or Debit Cards – A variety of debit and credit cards are typically accepted, including MasterCard, VISA, Diners Club, and Maestro.
- Wire Transfer – Money deposits via wire transfer may come from traders’ banks – both domestic and internationally. In this case, the trader will need to indicate his or her binary options account number and the details of the bank account from which the funds are coming.
- Moneybookers and Other Similar Payment Processing Systems – Online payment processing systems such as Moneybookers may also provide an avenue for traders to make deposits into their binary options account. In most cases, these systems allow traders to make secure and instant online deposits, without the need to use a credit or debit card.
Oftentimes, for the convenience of the traders who may be located in various locations around the globe, most of the binary options trading platforms will allow traders to deposit money and to trade in a variety of different currencies.
Receipt of Additional Monetary Bonuses
In addition to a trader’s deposit of money, there may also be the opportunity to receive a bonus from the trading platform in order to help boost the amount that is put towards trades, and in turn, increasing the potential amount of profit. These bonuses may either be a certain dollar amount of funds, or they may be a certain percentage – such as 25 or 50% – that is given in addition by the platform to the trader’s initial amount of deposit.
One way that traders may obtain a bonus is to simply open a new account with a binary options trading platform. Other opportunities to receive additional bonus funds may occur at times when the market is particularly volatile. Trading platforms may provide bonuses at this time in order to allow traders to take advantage of the potential for profit opportunities during particularly large market swings.
Trading for Free Using a Demo Account
There is one time when a binary options trader may not be required to deposit money into their account in order to trade. This is when they are using a demo account. These particular types of accounts may be set up to allow newer traders to get a true feel for trading in the binary options market, yet without using – and potentially losing – real money.
Demo accounts will typically allow users to trade all asset classes, as well as to access charts, graphs, and other trading information that may prove useful in making profitable binary option trades. This way, once a trader is comfortable, he or she will then begin trading out in the live options market.
