Best forex bonus is one of the concerns attracting a lot of new traders but there are many of those having no idea what it exactly is. In this article, I am going to help you to figure it out completely. We are going through different aspects of it including:
- Forex bonus types.
- Forex bonus drawbacks.
- Forex bonus withdrawal.
- Choosing a good broker.
- List of 4 most reliable brokers.
- How people cheat the forex bonuses
In fact, people with experiences are not really interested in forex bonuses because of inconvenient policies along with them. However, there are some particular benefits that attract almost traders. The traders may minimize the trading cost as much as possible. In addition, some people may earn more profits by exploiting the programs which are going to be explained more later.
- Forex bonus types:
There are various types of forex bonus from different brokers and each type is a specific program that represents the characteristics of the broker. In general, there are 3 dominant types of forex bonus that are usually offered by most of the best forex brokers 2019: Welcome bonus, Deposit bonus and Lot back bonus
– Welcome bonus: This is the bonus that is offered to the traders when they first register to the broker. It is the most popular bonus program that all traders at least once experienced. It is offered by all of the brokers from small to giant. This program is obviously used to invite people who are choosing their brokers or even attract the traders from competitors. The common bonus value that most brokers offer is from $30 to $50. Beginners prefer this type of bonus because it helps them to check the broker’s conditions as well as their new plans. And for bonus cheaters, this is obviously their favorite.
– Deposit bonus: It is the bonus you get for each of your depositing. Normally, your bonus amount is up to your depositing value. Different brokers offer different amounts such as 20%, 30% or even 50%. Brokers usually run this programs to motivate their traders to deposit more especially those who have not made any transactions for a long time.
– Lot back bonus: This type of bonus is also known as Loyalty bonus. To get this bonus, you just have to complete one transaction. In general, the broker will return you immediately a portion for every lot you trade. The value of the portion depends on your trading currencies, types of account and trading time. Consequently, this bonus is usually preferred by professional traders because it helps them to decrease their trading cost impressively.
Example: XM’s spread for EUR/USD is 1.4 pip, and they will lot back $3 for each completed trading lot. It means you only pay $11 for each EUR/USD lot instead of $14 of the original spread.
- Forex bonus drawbacks.
– Welcome bonus: It sounds attractive when someone give you bonus money but it is not really in this case.
+ First of all, you do not invest your money just to get $50. Focus on bigger things.
+ You may not withdraw your bonus.
+ Brokers who offer good welcome bonus are usually new brokers and new brokers are not really reliable.
– Deposit bonus:
+ You may also face a lot of difficulties to withdraw the bonus.
+ Your bonus might get lost in some situations if you try to withdraw it.
– Lot back bonus: If you invest a really huge amount of money then your bonus is much valuable.
- Forex bonus withdrawal
There is one question that anyone interested in forex market once asked: Can we really withdraw the bonus forex 2019?
The answer is of course you can. However, you have to fulfill the broker’s requirements first. Among broker’s requirements, there are 2 common ones that are widely used:
– Trade lot number: This is the most popular bonus withdrawal condition during brokers that requires the traders to complete a certain number of trade lot in order to take their bonus.
For example: To withdraw $50 bonus, you have to complete at least 10 lots. When you register or deposit in 1 lot, they will deposit bonuses to your account instantly and let you trade. If you win, you only can withdraw that bonus when you have completed up to 10 lots.
– Indirect: This means that some brokers only allow traders to withdraw the profits earned from the bonus instead of the bonus itself.
- Choosing a good broker
Forex bonus is an amazing gift. Nevertheless, it should not be standard in order to consider your broker. So as to choose the best forex broker you should consider the reliability.
– List down 5 best brokers which are suitable for you.
– Choose best forex brokers that have good bonus program. Of course these brokers are very good. So if they have bonuses, it is much better.
– Trade and get bonuses.
- List of 4 most reliable brokers.
Base on above procedure, I will list down 4 best forex bonuses:
- Best welcome bonus: 30$ welcome bonus of XM
- Best welcome bonus: 50$ welcome bonus of FBS
- Best deposit bonus: 100% deposit bonus of XM
- Exness Bonus: Rebate 2 – 16$
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How people cheat forex bonuses
Cheating is absolutely not recommended in any method. For your demand of information, there are 2 common methods that people may use to take advantages for themselves from the bonus programs:
– Begin with multiplying a lot of accounts. Next, hedge 2 accounts together which means keep one account win and the other lose. By doing this, you will maintain the winning rate at 50%.
– This method is alike to the above one. But you will earn your profits from the leverage that they offer for big investment. Similarly, you need a brokers that offer the leverage as high as possible.