WinMarkets is a new broker, and we must say that with expanding market, there are many challenges it will face in the future. Minimum deposit with this broker is 100$ (or EUR or GBP) which can be considered average in the industry. What surprises us is that traders can’t choose among various account types. In WinMarkets review, we realized that this broker offers only one account type.
This is something we consider quite unusual, as most brokers have at least three accounts, each created for the different type of trader, with different minimum deposit, bonus and other benefits. Even though we must admit that is always better to have one well-rounded account to offer to clients, it is not common to overlook traders’ needs.
It is important to state that WinMarkets does offer bonuses. Bonus (or trading benefit, as it is called in Terms and Conditions) is seen as a form of leverage and cannot be withdrawn. Additional funds generated by trading with bonus cannot be withdrawn without reaching 5x trading volume (for example, if the bonus is $100, the required trading volume is $500). In case trader accepts the bonus, the platform will first trade the deposit made by the user, and only after and if the client’s funds are zero, it can be traded with bonus funds. Our WinMarkets review showed that this broker has explained all terms of bonuses, but the rules are really complicated and hard to understand, especially for beginners who are entering the world of binary options for the first time.
Unfortunately, this broker doesn’t offer demo account that is the best way to learn how to trade binary options but has a good educational section that will be of great use for all beginners.