In order to invest in binary options, you need to open an account with a binary broker. There are many different brokers on the market today. Choosing one that’s right for you should be a high priority. Learn more about the membership plans here.
You start by reading our in-depth reviews on the site. One of the defining differences between brokers is the range of membership plans they offer. In this article you learn more about what sort of membership plans you can choose from, and which one fits best for what sort of binary trader.
Most binary brokers offer at least two different sorts of membership plan. These are usually defined by the minimum deposit required in order to qualify for each one.
Some memberships are more suited for novice traders, some are geared towards experienced traders, and some have been specially developed for big budget traders.
All binary brokers operate with a minimum deposit you, as a new member, are required to make. The basic membership plans might have a minimum deposit of about $100, whereas the more expensive plans can range all the way up to several thousand dollars.
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Whereas a basic membership plan might give you a small bonus on your first deposit, the more senior memberships might offer bonuses worth many thousands of dollars.
You might also find that the education centers available to junior or standard membership plans are not as exhaustive as the ones more senior members enjoy.
At the top end of the scale, the very most senior membership plans can also provide personal account managers. An account manager can help you obtain greater success as a trader. The same can be said for binary signals that several brokers make available to members who upgrade their accounts.
Even a basic membership with a broker gives you the fundamentals you need in order to trade successfully with binary options: access to a trading platform where you can choose from a range of options – 60-seconds, touch, high/low, and so on.
To begin with this is all you need. For this reason, beginners who have never had an account before might want to start with such a membership plan.
If you, on the other hand, already have some experience, a basic membership can hold you back. You might be better off investing a greater amount of money, in exchange for a bigger bonus. If you intend to invest $1000 or more, it could be beneficial to make an initial deposit of this size, in order to take advantage of a bigger bonus payout.
For professional traders who have a substantial budget, and trade frequently the benefits of a personal account manager should be taken into consideration. This might allow you trading opportunities others will miss out on.