A bonus can look like free money, but it usually comes with conditions that decide whether you can withdraw anything. Accepting one without reading the terms is a common and avoidable mistake. This guide lists what to check. It names no broker, does not describe any specific offer and does not suggest that bonuses are good or bad in general.
TL;DR -- Key Takeaways
- A bonus usually carries conditions; read them before accepting, not after.
- Look for turnover or volume requirements, time limits and withdrawal restrictions.
- Check whether your own deposit is locked while the bonus is active.
- You can usually decline a bonus; consider whether the offer is worth the restrictions.
- Keep a copy of the terms as they read when you accepted.
1. How the Mistake Happens
A bonus appears at deposit time with a prominent button and a short headline. Many people accept it without opening the full terms. Later they find they cannot withdraw because of a condition they did not read. The headline is marketing; the terms are the contract. For background on how these offers work in general, read binary options first deposit bonus explained.
2. Conditions to Look For
- Turnover or volume requirements: a rule that you must trade a set multiple of the bonus or deposit before withdrawing.
- Time limits: a deadline to meet the requirement.
- Withdrawal restrictions: whether you can withdraw your own deposit or profits while the bonus is active, and what happens to the bonus if you do.
- Eligible trades: whether some assets, expiries or payouts do not count.
- Maximum amounts: limits on what can be withdrawn from bonus-related profit.
- Cancellation rules: whether declining or cancelling later is possible, and at what cost.
3. Do the Arithmetic
If a requirement means placing many trades to unlock a small amount, each trade carries the built-in cost of the payout. At an 80% payout, you need about a 55.6% win rate just to break even, so extra forced trading can cost more than the bonus is worth. See how binary options payouts work and the payout calculator.
4. Read More Than the Terms
Look for the same wording in the broker's general terms and in withdrawal conditions, because bonus rules can interact with them. See broker terms and withdrawal mistakes and not reading the broker terms. If the conditions are unclear, ask support in writing and keep the answer.
5. Beware Pressure
Urgent countdowns and 'last chance' wording are sales tactics. Regulators describe pressure to act quickly as a feature of scams; see binary options scam warning signs. A genuine offer will still be explained clearly.
6. A Decision Checklist
- Open and read the full terms before clicking accept.
- Write down each condition and its deadline.
- Work out the extra trading needed and the cost of it.
- Check what happens to your own deposit and any profit.
- Save a copy of the terms.
- If unsure, decline; you can trade without a bonus.
Frequently Asked Questions
Is a bonus ever worth taking?
That depends on the terms and your plans. Compare the conditions with what you would trade anyway.
Can I withdraw my own deposit while a bonus is active?
It depends on the terms of the offer. Check the wording before accepting.
What if the terms change after I accept?
Keep a copy of the terms as they read when you accepted and raise any change with support in writing.
Can I decline a bonus?
Often yes, but check your platform's terms and decline at the time of deposit if you do not want one.
Related Reading
- Binary Options First Deposit Bonus Explained -- how bonuses work
- Broker Terms and Withdrawal Mistakes -- related errors
- Binary Options Withdrawal Time Explained -- what to expect
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