Promos or promotions as they are popular known are time limited offers that are designed to attract a larger number of people towards a particular of platform. The idea behind promotions is to offer the client something that they would normally not get at a cheaper price than they would have received it for. In essence, it create some sort of rush amongst traders as they try to take advantage of the contents of that promotion. For instance, a binary options broker may choose to offer a payout of 90% to the first 100 traders in a particular day. This in essence means that the traders on the platform will rush to get themselves contracts that can expire in the money and still beat the 100 number. The fact of the matter is not everyone who tries out for this particular promotion will be successful. However, those that will, eventually get the payout. This is the power that promotions hold in the trade of binary options.
What are some of the best promotions in the market at the moment ?
One of the best promotions in the market at the moment is the risk free trading that is offered to the first three or four trades. What this promotion provides is that even if the trader predicts the direct of the price of the assets incorrectly, he or she will still not face any loss. This is a particularly good promotion as it gives the trader the confidence to trade in the market without fear. In addition, most of the platforms also provide their traders with free demo accounts on which they can practice their craft before going on to the real platform. This training ground is important for both the new traders as well as the more experienced ones. For the new trader, it provides an opportunity to get his or her feet wet, so to speak and practices his craft before applying the same in the market. For the more experienced traders, it is an opportunity to try out new formulas and determine their authenticity before they can apply the same in the market. In addition, some brokers have offered to reduce their minimum deposit requirements in order to attract more people. The minimum deposit requirement is the least amount that a trader can deposit in the binary options account in order to be allowed to trade. In the same vein, some of the platforms are providing their traders with VIP or privileged service after accomplishing certain feats. For instance, VIP treatment can be given to those people who have been at the platform longest, thereby rewarding loyalty. Such persons can also be given discounts and special cards that avail more services to them.
Most of the binary options platforms also rely on the bonuses that they offer to their clients as part of their promotions. However, it is important to note that the use of promotions can be open to many scams. This is one of the things that traders in the market should look out for before participating in the various promotions on offer.