Written by: Sophie May
Your initial decision about how much to invest will determine your future binary options experience and profitability. Binary options brokerages will typically offer a variety of different accounts and services. Which accounts offer the best benefits? How do you pick the right account for you? Which accounts allow you to trade the most successfully?
Personal Broker Accounts
In the world of finance, the more you invest, the greater your profit potential will inevitably be. This is certainly true for binary options trading. Prove to a brokerage firm that you are a serious investor, and they should treat you seriously. Large firms like Banc De Binary assign Personal Brokers to clients who deposit $5,000 or above. This account entitles you to the full range of product services. You will have a Personal Broker assigned to you, a financial expert, who will share trading strategies and provide signals from an analyst telling you what to trade at any given point.
The benefits of an industry expert teaching you one-on-one and guiding your trading decisions are invaluable. Investors enjoy a dramatically increased percentage of successful, winning trades compared with standard account holders. Note that the money in your account is still yours and you do not actually have to trade with the full amount you deposit.
Tip! New traders may wish to deposit the initial $5,000 to benefit from the extra support, even if they decide to only actually trade with $1,000 and keep the rest as savings.
VIP Accounts
The top brokerages will offer special VIP accounts for those who deposit over $50,000 or $100,000. If you are investing this amount, expect regular trading signals, direct access to your Broker on a private number and no liquidity issues on the platform. Trading aside, look to be treated to the full trading lifestyle, with extra VIP benefits such as a global concierge service and company credit card.
If you are confident trading and can afford to invest this amount, you are sure to receive the very best binary options experience possible with a VIP account.
Warning about Minor Accounts
While some brokerage firms will provide the opportunity to invest upwards of just $100, and this can seem attractive to new traders, in reality it is virtually impossible to make your desired profits from such a small base sum. Banc De Binary accounts are therefore only available to depositors of $500 and upwards. This is the minimum reasonable amount for traders to enjoy good profits and be able to take full advantage of the platform features.
$500 will open the doors to binary options trading, and with this amount, all brokers should offer you a demo account to familiarize yourself with the platform. If you do not feel confident and comfortable trading after using the demo, you should be entitled to withdraw at any point, with no additional fees, and without spending even one dollar of your own money.