In the forex trading, traders can earn money from transactions or trading lots, but another interesting point is that they also can get bonuses from promotional strategies of brokers. The bonus can be a special gift or some cash and it is surely free of charge. However, the best forex brokers 2019 provide best bonuses in the form of credit with percentage according to the size of the initial deposit (or no deposit with welcome bonuses). Perhaps, it is easy to take bonuses in beginners’ mind, I do not think it is a wise conclusion, the reasons will be explained in the following parts.
WHAT DOES AN FX BROKER BONUS MEAN TO TRADERS?
Firstly, traders need to know what the meaning of bonus in the forex market is. Generally, the bonus in the forex is similar to bonuses of other industries, but very few brokers provide cash or valuable items. In order to attract and keep customers trading with them, brokers offer credits via their various accounts. Thus, if traders want to withdraw bonus amount, they need to keep trading with brokers or even adding more in case the best forex bonuses are running out. In spite of free charge, there are still some attachments between brokers and traders such as the percentage of credit, withdraw conditions, etc. Remember that bonuses are included in the promotional plans of brokers in order to expand their services, it is important for traders to know when they should stop and which brokers are under consideration. It is essential to remind traders that not all brokers are trusted, and big brokers will issue small offers normally. Those are the reasons why beginners are warned to learn about brokers as well as read terms and conditions carefully.
ANALYZING THE DIFFERENT CATEGORIES OF FOREX BROKERS BONUSES
Welcome bonus and deposit bonus are two typical types provided by all brokers. The difference between them is the initial investment. Welcome bonus is free at all and deposit bonus requires some initial capital.
Deposit bonus – With this bonus, I need to remind beginners to be careful as my above mention because deposit bonus is not free. Especially, new traders with less experience are often so attracted by bonuses that they are willing to add more money to trade, and they are out of the pocket quickly. Definitely, bonuses will never be 100% of your initial deposit amount, it is usually shown as a percentage of that amount. For example, brokers’ offer is 50% for every $100, so with every $100 deposit, your account will be credited $50. And surely, you have no choices except going on trading to promote your level and balance. As a result, choosing the right brokers with the best bonuses is extremely important. You can refer good brokers such as Exness, FBS, XM, etc.
Welcome bonus – This kind seems as a greeting of brokers to their customers who open accounts for the first time. Therefore, no fee is applied and the advantage is that traders can practice with more than one broker with no worries about money. Sometimes, brokers add other promotional campaigns and traders can earn more from these.
In my opinion, the 4 best forex bonuses are:
– Best welcome bonus: 30$ welcome bonus of XM
– Best welcome bonus: 50$ welcome bonus of FBS
– Best deposit bonus: 100% deposit bonus of XM
– Bonus Exness reviews: Rebate 2 – 16$ per lot of Exness