For people who just started their trading career, forex welcome bonus 2018 is a good start for your career. Therefore, choosing a broker that offer best welcome bonus programs should be on your top priority. In this article, I will give you some pieces of advice and reviews from my own experiences on how to choose the best welcome bonus programs.

• The best welcome bonus programs at the moment

With my experience of trading and working with the best forex brokers 2018, I have summed up my list of brokers that offer good welcome bonus programs to 3 names. They are XM, FBS, and FXTM. Out of these 3 brokers, I would recommend XM as they not only offer an excellent welcome bonus program, they also offer 100% bonus on new deposits.

• Standards for picking good forex welcome bonuses

Below are 3 standards you should use to pick a good bonus program:

• Easy withdrawal conditions

Withdrawing bonus is not always easy as some of the brokers have strict policies relating to it. Even though you can not withdraw your welcome bonus directly but you can surely withdraw the trading profits you gain from your welcome bonus. That why some brokers require you to meet a certain condition to withdraw your bonus such as the minimum lot traded requirement. To be more specific, below are the minimum lot traded requirements of 3 listed brokers above:

–    XM has the best withdrawal policy. Their requirements for withdrawing bonus profits is only 0.1 lot.

–    FTMX is a bit stricter as they require traders to complete 1 lot traded in order to withdraw profits.

–    FBS provides 123 bonus programs and the maximum bonuses are 123$. The maximum profit you can withdraw for each lot is 3$. For example, if you gain 60$ profit in 7 days of trading, you need to trade at least 20 lots to withdraw full profit.

• High welcome bonus value

Every trader wants the welcome bonus amount to be as high as possible. Among the three brokers mentioned above, FBS provides the highest collectible amount of welcome bonus, which is 123$, while FXTM and XM only offer a welcome bonus of around 30$.

• Reliable forex brokers

You should always look for a reliable and non-shady broker. Having experienced with many brokers, I believe that XM is the best brokers in term of reliability and transparency

• Other types of bonuses

Beside welcome bonus, many forex brokers also provide many different bonus programs such as Lot back bonus (or Loyalty bonus) and Deposit bonus. To be more specific:

Deposit Bonus is the program that aims for the deposit amount of traders. You can get more money from the bonus by simply deposit more money.

Loyalty bonus or Lot back bonus is preferred by most of the experienced traders as the program automatically returns a portion of every transaction you made to your account.

For example, XM’s spread for EUR/USD currency is 1.4 pip and for each completed trading lot, the rebate amount is 3$. It means that you only need to pay 11$ for one EUR/USD lot which is 3$ lower than the original spread.

• Is this possible to withdraw forex bonus profits?

As mentioned before, most brokers apply certain policies to limit bonus profit withdraw. There are currently two known withdrawal conditions that most brokers are applying:

• Completed trading lot

I have explained and given an example regarding this policy. Most brokers will require you to complete a certain amount of trading if you want to withdraw the bonus. A downside of this policy is that most of the time, traders may have to deposit more money than the bonus to complete this requirement.

• No direct bonus withdrawal

Most brokers I have traded limit their traders from withdrawing the bonuses directly such as deposit bonus or welcome bonus. The reason for this is that if they had not done this, there would have been a lot of cheaters and exploiters take the advantage of it and made a profit for themselves.

• Good bonus or low spread, which one is better?

Most traders would consider good bonuses more than low spreads at first. However, traders also need to consider a long-term plan. Brokers with low spread or overall better trading conditions are always good in the long-term because you are always trading with the best possible trading conditions that you can get when you choose these brokers. Personally, I would consider the credibility of brokers to be on top of factors in considering the best brokers because I often have to trade with a large amount of money

• TOP 4 FOREX BONUSES

I have done my own researches and I found out which brokers have better bonus programs than the others. I have so far narrowed my list to four brokers with relatively much better bonus programs compared to others. Here are my top four:

▪    Best deposit bonus – XM: 100% deposit bonus

▪    Best welcome bonus – FBS: 50$ welcome bonus

▪    Exness bonus: Rebate 2 – 16$ per lot

▪    Best welcome bonus – XM: 30$ welcome bonus

• How to exploit forex bonus programs

I would not recommend any form of cheating but if you feel the needs to do so then I may suggest two popular ways which both involve creating multiple accounts to exploit the welcome bonus programs:

1. For brokers that have loose withdrawal policies, you can hedge two newly created account and let one account win as well as one account lose to maintain a win rate of 50%.
2. The second method is similar to the first one. The difference is that you need to take advantage of the high leverages to open very big positions. You should look for a broker with high leverages to use this kind of cheating method.