In forex market, most of traders are often attracted by forex bonuses, but they tend not to find out some facts about these bonuses. In fact, having forex bonuses can be equivalent to the number of adverse aspects. Hence, in order to make a good decision before trading with brokers who are offering bonuses, we should focus carefully on several factors. In terms of this article, it can help you to have a good knowledge about how to choose suitable forex bonuses. In reality, forex bonuses are always considered as a great lure of brokers, which draws the attention of the majority of traders. However, there are still the number of traders who do not pay much attention to these forex bonuses. Through this article, I hope that you can know how to choose suitable brokers and know what kind of forex bonuses are suited for you.
1.Is is easy for us to withdraw forex bonus profit?
In reality, in order to unravel this question, we should care about bonus withdrawal conditions. As a result, when we grasp all information about this, we will know whether we can withdraw our profit.
In fact, there are two withdrawal conditions that we should concentrate on.
There are the number of brokers who allow you to withdraw your benefit when you accomplished the number of trading lots.
On the other hand, you can actually withdraw your profit though some brokers do not allow withdrawal bonuses.
In one word, it would be easier for traders to withdraw their profit when they do not need to follow any condition. Therefore, I think it is a good choice for you to choose brokers who do not ask a certain number of completed lots.
2 . How many types of forex bonuses are there in forex market?
Indeed, we should know three kinds of forex bonuses which are Welcome bonuses, Deposit bonuses, and Lot Back bonuses.
The first one is welcome bonuses which brokers often give to traders at the beginning.
The second one is deposit bonuses that you can have when you deposit your money. Normally, brokers tend to offer this kind of bonus with a view to stimulating the interest of traders. Therefore, traders will have a tendency to deposit more.
The last one is lot back bonuses which are for loyalty program. It is obvious that only when you terminate 1 lot per transaction, brokers later will rebate the amount of money into your account.
3. Disadvantages of forex bonuses.
To be more specific, in order to understand some certain negative aspects of each type of forex bonuses, I will give you some explanations here.
Welcome bonuses: it is totally free, but it is not good for us. In fact, you can get $50 if you have this kind of bonus, yet it is not a good deal. It is because you should choose other types so that you can have more benefits. Additionally, it is quite onerous for you to withdraw your profit in this case, and is quite risky. As a matter of fact, new broker often find some ways to attract the attention of traders by offering this type of bonus, you thus should not trade with these brokers.
Deposit bonuses: it is not an easy task for you to withdraw your profit, and sometimes you will lose your money in some cases.
Lot back bonuses: in terms of this type of bonus, it is better for you if you pour a big amount of money into your account. On the negative side, you have to wait for a lot time to get your benefits.
4. Top 4 good forex bonuses for traders.
In order to help traders choose top forex bonuses, I will show the list of top 4 good forex bonuses here.
- Best welcome bonus: 30$ welcome bonus of XM
- Best welcome bonus: 50$ welcome bonus of FBS
- Best deposit bonus: 100% deposit bonus of XM
- Lot Back Bonuses: Rebate 2 - 16$ per lot of Exness
5. What should we choose between good forex bonuses and low spread?
It is very essential for us to look at different aspects before choosing brokers. In my opinion, it would be of better use to traders when enjoy forex bonuses. But we also need to look at other things. Normally, when choosing good forex bonuses, what we should do is to know these steps.
- Make a list of top 5 best brokers which are suited for you.
- Opt for best forex brokers that have good bonus program
- Trade and have bonuses.
6. We have two methods for cheating forex bonuses.
In fact, we have 2 ways to cheat on forex bonuses.
- The first way is that traders must have many accounts so that they can get more welcome bonuses. As a result, they will hedge 2 accounts and they can win one.
- The second way is to open many new accounts to have welcome bonuses. Then they can use high leverage to open many positions. In fact, they will hedge their accounts to win with the rate of 50%.