Forex Bonuses are great offers from various brokers. The gift could be a ship to bring you to success, or a sheep it turns you, depends on your knowledge and your plan. Professional and expert traders love Forex Bonuses as for the trading benefit, bad cheaters love it for self-interest. Do not try to cheat and escape with Forex Bonus. The behaviors show weaknesses and prove that you are an undisciplined trader who has no honor. With vast knowledge and tight discipline, elder traders understand thoroughly the value of Forex Bonus in trading currency, thus they can earn more money.
Traders need to keep tight discipline, or the false sense of security and hot temper will lead you to great loss in short time. The pressure when the Bonus is about to expire can turn you into a sheep, and trade with blindness, especially with new traders. Scam brokers take the advantage of this point to hook them up with catchy bonus, then fly by night.
The Forex market has experienced great expansion in recent years, and traders community welcome new members daily. However, searching for a trustworthy brokers with good bonuses is still a serious challenge for newcomers. You need to get used to trading currency first, then understand the basic knowledge of Forex Bonuses, which should take several months with diligence. You need to practice with large brokers for professional trading condition and good support. Slow down a little bit and everything is going to be right, then you can cope with any Forex Bonuses positively. Now, let’s find out more about the Forex Bonuses.
In brief, there are three kinds of Forex Bonus: Sign-up Bonus, Deposit Bonus, and Lot Back Bonus; which are suitable with new traders, professionals, and experts respectively.
Also known as Welcome Bonus, the $30 - $50 gift will be added to your account right after the registration and verification. You also need to open a trading account as well, then start your trading immediately with the free bonus. You may lose all - with the free money, but if you win, all yours. You deposit none and risk none, that’s why the Sign-up Bonus is claimed to be the best Forex Bonus type. There are several exceptions that brokers require the minimum deposit for your trading account, or proceed the first bet to obtain the Sign-up Bonus, which is to prevent forex cheating strategies. The situation is up to brokers’ policies, so read it carefully.
There are two disadvantages: the Welcome Bonus could be decent for traders with little pocket, but small compared to future wish of all forex traders. Secondly, Welcome Bonus can be received once only with each brokers, and the withdrawals could be difficult with large brokers. It takes time to prove your reliableness to the broker, there’s no place for a cheating plan.
Deposit a thousand buck, then get a grand bonus. The Deposit Bonus is percentage bonus which bases on the money you deposit, it can be 20%, 50%, or even 100% bonus. This attractive offer encourages traders to deposit with more money. Hence, the Deposit Bonus is for loyal clients just, which is given with a private message to chosen accounts, normally the regular traders. This special gifts kind is not limited which is even better for regular traders.
Some brokers also present Deposit Bonus as Welcome Bonus or Non-deposit Bonus, this deadly promotion could attract numerous forex cheaters - so unwise. From another point, such good-looking bonus could probably have its origin as scam brokers, and traders should be cautious before accepting such butter. Reliable brokers have similar bonuses, but with well-structured terms and condition and if withdraw the profit, your forex bonuses might be lost in several cases.
Lot Back Bonuses
Example: XM’s spread for EUR/USD is 1.4 pip with $14 for a trading lot. You save $3 and need to pay only $11 for the next transaction.
Trustworthy brokers can open up to 50% bonus with Lot Back Bonus offer, and the requirement is basic: to trade. This rebate is up to the trading pairs, account types, and time trading. Forex traders, who spend most of their time trading with constant transactions, find this bonus is valuable. They are commonly professional and expert traders, and this Forex Bonus seems to be designed exclusively for them. There is no chance for new members or cheaters to play around with this Bonus.
To sum up, if you are serious with currency trading, do not skip the bonus offers nor attempt cheating as well, whether you are a novice or an expert. It is your responsibility to control the risk and achieve success. Don’t be careless, find reliable brokers, and learn with a cool head, be responsible and honest, success will find you.
1. For Practice: The Cent Account from small brokers provides a good practicing environment with small deposit (Exness also offers Cent Account). You can also try the Demo Account using demo money.
2. Cheaters: register with massive accounts, find brokers with no condition on withdrawing Bonus, wait until they can build one merged accounts with 50% win rate, then disappear.
3. Forex bonus examples: (from the top brokers)
- XM: 30$ welcome bonus
- FBS: 50$ welcome bonus
- XM: 100% deposit bonus.
- Exness: 2 - 16$ per lot - Lot Back Bonuses