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If you want to choose the best Forex broker bonus that has the potential to increase your account equity with minimal risk, you first need to know about all the advantages and risks of Forex bonuses exactly. Although a Forex bonus on deposits may seem like a simple concept to grasp, it may actually not be as easy as it appears. This article is designed to help you to understand the basic elements of a forex brokers bonus and how to go about obtaining the best bonus for your investments. To introduce you to one of the most exciting and interesting topics in financial trading, we present you here with our exclusive Forex broker bonus guide and a few handy tips to choosing the top forex brokers bonuses in the market.
What Does an FX Broker Bonus Mean To Traders?
Recently, we spoke to some trading novices and discovered that some of them had no idea what a Forex brokers bonus is or its implications on their investments. If you are one of them, you should be aware of some of the important features of brokers bonuses, and therefore, you would benefit from gaining more knowledge about the different types of Forex promotions available in the market. Even if you are an experienced trader, there’s no harm in benefiting from a Forex deposit bonus, which can certainly increase your exposure in the markets without additional risks. A Forex brokers bonus is similar to the concept of bonuses and offers that you might have seen on different online portals such as gambling websites, sports betting pages, as well as on TV or online shows and games. However, Forex bonuses have their own distinctive features. A Forex brokers bonus may also be referred to as a promotion, a special offer, and sometimes even as a gift, or may also be considered as a part of a company’s seasonal promotional campaigns. In all cases, a bonus comes free of charge, but that does not mean that there are no terms and conditions associated with it. We usually recommend that all traders read these terms and conditions thoroughly so that they will have no problems when they use or redeem their chosen bonus offer for trading the Forex market. In general, any Forex brokers bonus is a type of promotion that the company gives to its customers. Bonuses that are from a specific trading platform or a broker, however, only applies to the customers of that particular platform. There is no such a thing as a universal bonus that you can use anywhere you like. Also, brokers are free to specify their own bonus conditions and may release as many special offers as they wish, and may restrict the use of bonuses to their traders according to the type of trading account that they choose. The main goal for a Forex trading website behind offering bonuses is to attract more customers or to keep their existing traders from defecting to other brokers. Forex bonuses are intended as a key promotional strategy used by FX trading companies to incentivize clients to keep using their services.
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Analyzing The Different Categories of Forex Brokers Bonuses
Before outlining the various types of bonuses, we will list all the main groups of Forex broker bonuses according to which they are classified. These categories reflect the primary purpose that each special bonus has to offer.
Bonuses for beginners – These are the most popular and successful bonuses because they aim to attract customers to a specific trading site. These bonuses cannot be used twice or by anyone who is already registered in the Forex broker’s system. These bonuses are known by different names and are also called welcome promotions, special offers for newcomers, first deposit bonus, and sign up bonuses. To qualify for this type of bonus, you should never have officially registered for their services or have previously traded on that site either directly or through affiliate/IB accounts.
Bonuses for regular/existing customers – Just as attracting more new clients is an important aspect for a broker, holding on to the existing clients is also essential from a company’s perspective to enhance their online reputation and improve customer satisfaction ratings. Here is where regular customer bonuses come into play for existing traders. These types of bonuses are provided only to loyal clients and are usually considered to be the best Forex brokers bonuses among all types of Forex broker promotions. These offers are extended only to specially chosen clients, who can are qualified to obtain and acquire privileges that other new traders simply cannot access. Some of these offers might not even be officially outlined as bonuses on the site. They are usually provided to encourage regular clients to continue using their brokerage services for a longer period and avoid moving their trading capital to a competing broker.
Bonuses from third parties – These bonuses are specific to traders that open an account through an affiliate or introducing broker. Affiliate marketers and introducing brokers (IBs) have the freedom to promote a broker’s services, and bonuses are provided according to the initial deposit and other account factors. Third party promotions are not entirely popular due to the various trading restrictions but are quite well-known bonuses among reviewers and market experts. There are several types of these such promotions, but the main feature that distinguishes third-party bonuses from other offers is the involvement of a third party between the broker and the trader.
What Are The Different Kinds of Forex Brokers Bonuses?
You can find the best Forex broker bonuses from the many broker options that are available in the market; however, choosing the right bonus offer that meets your needs is a decision that you will need to make for yourself. Although novices will usually prefer a welcome bonus that matches their deposits, more experienced and advanced traders will enjoy a greater benefit from different promotions such as cash rebates, loyalty programs, and reward points that are accumulated through trading. Here are the most common Forex broker bonuses that you will find during your trading career by investing in different platforms and companies that are predominantly active in the industry. No deposit bonus – When it comes to the finding the best Forex broker bonus, a no-deposit bonus is the one that most traders will probably choose for their trading needs. A no deposit bonus carries much less risk than traditional Forex bonuses, but there may be a stringent set of trading conditions that a trader must satisfy, in order to qualify for such a bonus. You are generally not required to make any initial deposit for receiving a no deposit bonus, which is usually the first thing that you need to do top open an account and for getting a bonus or making a trade. The no deposit bonus is usually a fixed amount of money that is directly credited to your trading account, which cannot be withdrawn by the trader without satisfying the broker’s bonus terms and conditions. Withdrawal of profits is also restricted in this type of bonus offer.
Deposit bonus – A deposit bonus requires you to make an initial investment before being able to access your reward in the form of cash, credit or other promotional gifts as part of the deposit offer. The standard deposit bonus is usually shown as a percentage of the initial deposit amount, while promotional items are often provided according to the size of the initial deposit. For example, the minimum deposit requirement for a Forex trading company may be fixed at $100 to provide an offer of a 50% deposit bonus on all the deposits that you make. Therefore, if you deposit $100 every time, your account will always be credited with $50 as trading credit/bonus, along with your $100 trading capital as the main account equity. A broker may choose to exercise discretion while dishing out Forex bonuses, as some brokers might restrict the available bonus to the initial deposit only. It is also common for a majority of Forex broker bonuses to have certain trading restrictions for clients that choose a deposit bonus; hence, be careful about the bonus offerings before accepting them.
Welcome bonus – A welcome bonus is typically an incentive for traders to register with a broker, which can either be a no deposit bonus or an ordinary deposit bonus. In both cases, the bonus is only offered once. Unlike an ordinary deposit bonus, the welcome deposit bonus refers only to the trader`s first investment, and may also be inclusive of any other promotional campaigns.
Refer a friend program – The refer-a-friend bonus offer this is a common third party Forex brokers bonus that is available to existing traders, as well as affiliate marketers. In this case, the special promotion involves getting a reward of either a specific sum of money or a percentage of an amount of your initial deposit. Affiliates and introducing brokers don’t use a refer-a-friend program per se, but they use an alternate version that is specifically designed to reward affiliates with a significant sum of money for every valid referral. The referral customer bonuses may vary according to the customer`s overall experience client referrals and his previous dealings with the broker.
Demo account – A demo account is a type of account that requires no investment upfront that allows traders to trade the markets through a virtual trading account. A demo account offer should not be referred to as a bonus offer. While it allows the trader to make free trades for a set time period without paying anything, the trade off is that you can neither win nor lose any money. Demo accounts may eventually lead to a bonus package, which depends on the trader’s ability to negotiate with the broker’s representatives.
Forex contests – Forex contests may include real prize money that can either be withdrawn, or used as trading credits. Traders can sign up for different types of Forex contests, such as a trading competition, live trading account performance, market analytics, and determining the price of an asset at market conditions. FX contests may also include some special bonuses, but these are relatively rare among contemporary Forex brokers.
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Types of Forex Bonuses
How To Get The Best Forex Broker Bonuses?
Nowadays, Forex brokers have to adhere to the latest regulatory guidelines that are slowly wiping out the concept of Forex bonuses. Forex regulatory agencies are deterring companies from indulging in any promotions, mainly due to the various issues and drawbacks that are associated with free money accounts. A Forex bonus may, at most times, accompany several trading restrictions that prevent traders from exercising full control over their money. Forex brokers are also free to put a hold on a trader’s capital, particularly if traders agree to waive off their rights to their trading capital in exchange for a bonus. Therefore, from a trader’s viewpoint, it is extremely vital for you to find the top rated Forex broker bonuses that should serve you well for the foreseeable future. We will attempt to provide you some advice on how to find the best Forex deals on the web. We have devised all guidelines by consulting with professional traders, which are a part of our expert team that brings you these useful tips on the most amazing Forex offers in the market.
- Have a close look at what your current Forex broker offers in terms of bonuses or promotional deals. More often than not, your present FX trading company may be able to offer some special promotions that are exclusively designed for your trading account. You may also be able to qualify for a good rewards or loyalty program, which can earn you cash rewards that can be withdrawn or traded without any limitations.
- An online search can provide you with an insane amount of Forex broker bonus information, or better still read through our list of recommended brokers that offers industry leading bonuses through regulated and highly trusted Forex trading accounts. We always consider it our responsibility to offer you access to the most reputable and reliable trading platforms that provide the best offers and bonuses according to industry-leading specifications.
- Read our Forex broker reviews constantly, and keep track of all of our updates to prevent missing out an opportunity to receive the best bonus in the market. Our FX broker reviews contain special sections about the bonus offers and hot seasonal offers that are available for on each platform. Check through the offers and see if there is something that suits your requirements.
- Visit trading forums where real traders discuss the availability of Forex brokers bonuses in real time, and how they can be redeemed with minimal effort. A real customer testimonial is a reliable way to find the best deals without the risk of being scammed.
- Ask friends, mentors, family, or traders from your social circle for help. This is how the popular “refer a friend” promotion works, and you may be surprised that your best friend, co-worker, or a family member may be able to get you the best Forex bonus that is normally not available to the average trader. Of course, we recommend you only ask for help from experienced traders who are capable of pointing you in the right direction.
Should You Accept A Forex Bonus Or Reject Them?
Forex bonuses do have certain advantages, but there are severe drawbacks as well. No trader should skip the bonus offers to be had in the Forex trading system, particularly if they are working with a small trading capital. FX bonuses are a great way of building the equity in a trading account without taking an actual risk, and it does help to a greater extent to increase the exposure in the markets for better positioning in the markets. Whether you are a novice or an experienced investor, you can greatly benefit from the rewards, gifts, and profits that are offered by most modern brokers today. On the flipside, brokers are also known to take advantage of its clients without clearly outlining the risks associated with Forex bonuses. Larger traders that may have access to higher trading capital may seriously risk losing their money to dishonest and fraudulent broker practices. Some malicious FX companies may trick traders into making huge deposits in exchange for hefty bonus packages, but such brokers are notorious for including unfavorable trading conditions that are guaranteed to lose money for the trader concerned. Nevertheless, it is the job of a trader to strike a delicate balance between a reliable Forex bonus and the long-term security of their trading capital. Even though we aim to provide you with reliable and high-quality information on choosing the best FX bonus from a regulated and trusted trading company, you should exercise due diligence while choosing a Forex broker and a bonus as per your risk appetite and investment preferences.
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