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If you want to choose the best forex brokers bonus for you, you first need to know exactly what one is. Although it seems like a simple concept to grasp, it is actually not as easy as it seems. This article is designed to help you to understand what a forex brokers bonus is and how to go about obtaining the best one for you. To introduce you to one of the most exciting and interesting topics in financial trading, we present you here with our guide and handy tips to choosing forex brokers bonuses.
What Does a Forex Brokers Bonus Mean?
Recently, we spoke to some trading novices and discovered that some of them had no idea what a Forex brokers bonus is. If you are one of them, you might not be aware of some of the important features of brokers bonuses and therefore you would benefit from gaining more knowledge, and even if you are an experienced trader, there’s no harm in benefiting from more free information. A Forex brokers bonus is similar to bonuses you might have seen on gambling websites or on sports betting pages, as well as on TV or online shows and games. However, it has its own features too. A Forex brokers bonus may also be referred to as a promotion, a special offer and sometimes even as a gift. 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 thoroughly read these terms and conditions, so they have no problems when they use their chosen bonus offer. In general, any Forex brokers bonus is a type of gift that the company gives to its customers. Bonuses that are from a specific trading platform, however, only apply 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 release as many special offers as they wish of any type that they choose. The main goal for a trading website of offering bonuses is to attract more customers or to keep their existing ones using their services.
Groups of Forex Brokers Bonuses
Before outlining the various types of bonuses, we will show you the main groups by which they are classified. These groups reflect the main purpose that each special offer has.
- 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 also called welcome promotions, special offers for newcomers and sign up bonuses etc. To get this type of bonus, you need to have never previously traded on that site and to officially register for their services.
- Bonuses for regular customers – just as attracting more clients is important to brokers, keeping the existing ones is also essential. Here is where regular customer bonuses come in. These are provided only to loyal clients and usually, these are the best Forex brokers bonuses, because they allow specially chosen clients to obtain and acquire privileges or extras that other traders cannot access. Some of these offers might not be even officially outlined as bonuses on the site. They are usually offered to encourage regular clients to continue using their brokerage services for a longer period in order to benefit.
- Bonuses from third parties are specific, but quite well-known bonuses. There are several types of these promotions, but the main feature that distinguishes them from other offers is the involvement of a third party between the main trader and the broker that he will register with.
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What Kind of Forex Brokers Bonuses Are We Aware Of?
You are sure to find the best Forex brokers bonus for you from among these many options, however which one is the right one to meet your needs is a decision that you will need to make yourself. Although novices will prefer a welcome bonus, more experienced and advanced customers will enjoy a greater benefit from a different promotion. Here are the most common Forex broker bonuses you will find during your trading activity on different platforms.
- No deposit bonus – when it comes to the finding the best Forex broker bonus, this is the one that most traders will probably highlight. This bonus requires you to be a new customer to a particular website. You are not required to make any initial deposit, which is usually the first thing you need to do before getting a bonus or making a trade. On the contrary – the bonus is usually an amount of money that is directly credited to your account.
- Deposit bonus – a deposit bonus requires you to make your own investment before accessing your reward. The standard deposit bonus is usually shown as a percentage. For example, your minimum deposit requirement on a website may be $100 with an offer of a 50% deposit bonus on the following deposits that you make. Therefore, if you deposit $100 every time, your account will be always credited with $150, and not $100.
- Welcome bonus – this can be either 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.
- Refer a friend program – this is a common third party Forex brokers bonus. In this case, the special promotion is getting a reward of either a specific sum of money or a percentage of an amount (usually of your friend`s initial deposit) if you refer a friend to the same broker.
- Different existing customer bonuses vary according to the customer`s experience and his previous dealings with the broker.
- Demo account – this type of account requires no investment and may 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 also neither win nor lose.
- Forex contests may also include some special bonuses, but these are quite rare for contemporary Forex brokers.
Types of Forex Bonuses
How To Get The Best Forex Broker Bonuses?
Finally, we will try to give you some advice about how to find the best Forex deals on the web. Experienced traders and our expert team bring you these useful tips for searching for the best Forex brokers on the web.
- See what your current Forex platform offers. There might be some good special promotions for you.
- Perform a websearch using the keywords “best Forex bonuses”, “great Forex deals” etc. See the list of brokers that provide these offers and choose the bonuses that come from reputable and reliable trading platforms.
- Read Forex broker reviews. They contain special sections about the bonus offers on each platform. Check through the offers and see if there is something to suit you.
- Visit trading forums where real traders discuss Forex brokers bonuses and how they work. This is a reliable way to find the best deals without risking being scammed.
- Ask friends for help. This is how the popular “refer a friend” promotion works. Of course, we recommend you only ask for help from experienced traders.
No trader should skip the bonus offers to be had in the Forex trading system. Whether a novice or an experienced investor, a trader can benefit greatly from the gifts and profits offered by brokers today.
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