Important Information For Canadian Traders
Binary Options Trading is Illegal In Canada. There are NO Binary Option Brokers who hold a valid license to operate in the country. We will notify you if the situation changes.
Sitting on the coast and far away from almost everywhere else in Canada, Prince Edward Island does not come across as a very active place especially in terms of financial activity. The island is a special one though, with the all-important Charlottetown Conference having been held there way back in 1864 where the very foundations of Canada as we know it were laid. This agriculturally productive island and one of the earliest centers of immigration, seems laid back compared to other Canadian territories. What is true is that itis also one of the places where the binary options trading has taken financial trading industry by storm. Traders stand to make big profits if they consider the best binary options offers on their island.
Most trading platforms offer bonuses on deposits as an incentive to the trader. Bonuses on deposits match your deposits in some cases or add to your deposit by a good amount. This makes available more funds to trade with which translates to big profits. Bonuses are good for binary options traders as they can be used make additional profits than what would have been made with just the deposit.
Bonuses come in many different forms. Some are very good for minimizing trading risks. Some bonuses, like the signing-on bonus, or the refer-a-friend bonus could be used to make trades without having to risk your own money. Some may also include you having some training to help you make more profitable trades. What better way to make profits while you are still learning the ropes? For beginners, they can use the signing-on bonus to make more profits if they sign in with different brokers. Bonuses are good especially when traders understand them well, understand the terms and conditions that they come with and then trade well with them. It will be advantageous to examine all bonuses that a broker has so as to take advantage of the most profitable ones.
Bonuses are also used by brokers to keep expectations of trading the binary options high. This is because a few losses in initial trades may dampen the interest that had been there at the beginning. While a few trades will not make you millions of dollars, they can be very discouraging especially to a new trader. With bonuses making good profits for traders and then rising as trading progresses, a trader will be inclined to trade even more.
What is an educational bonus?
When a broker offers an educational bonus, he is rewarding the trader for taking up the training to become a better trader and for applying the skills and strategies in actual trading. This way, a trader will begin trading with some knowledge of what he is actually doing. This minimizes the risk of losing trades within the first few trading sessions. Such bonuses can also be used to test all the skills that you have been learning. It is by experiencing the real binary options trading that you eventually become a professional trader.