Forex Bonuses – A Great Opportunity for New Traders

Forex trade is gaining popularity rapidly. Along with the number of traders entering the market, the number of brokers offering forex trading platforms is also increasing. With so many brokers offering trading platforms having more or less similar functionalities, there is fierce competition among them to expand their market share. As a result of this vigorous competition, many reputed brokers are offering bonuses to attract new customers.

Bonus in the Form of a Percentage of Your Forex Deposit

Many forex brokers offer a percentage of funds deposited by new customers as welcome bonus or first deposit bonus. For instance, if a broker offers 50% first deposit bonus, on a deposit of $100, you will get $50 as bonus. This means that the initial balance in your trading account will be $150. The bonus amount will depend on the size of your deposit. If you make a bigger deposit, your bonus amount will also be larger. For instance, if you make a deposit of $200, you will get $100 as bonus from a broker who is offering 50% first deposit bonus.

Some brokers place a ceiling on the bonus amount. For instance, if a broker is offering 50% welcome bonus up to $500, it means that all the deposits of $1000 or higher will get a bonus of $500, not more than that.

No Deposit Forex Bonus

The cut-throat competition has induced some brokers to offer no deposit forex bonuses. Brokers offering no deposit bonuses provide new customers real forex trading money just for signing up. Customers are not required to make any real money deposit to get the bonus.  In order to receive a no deposit bonus, all you need to do is fill up the application form offered by the broker to open a live trading account. Once the information is verified, your account will be automatically credited with the no deposit bonus amount. This means that you can start trading in forex market and earn money without investing a single penny.

No deposit bonus is a great opportunity for traders to test a platform. It is also an amazing chance for those who are new to forex trade to test their trading skills and gain some experience without making a financial investment. Such bonuses are a win-win prospect for traders. If used sensible, you can make money using this bonus, but in case you make a bad decision and lose the bonus amount, you won’t really be losing anything.

Tips to Find the Best Forex Bonus

If you are new to online forex trade, forex bonus is a great opportunity for you. With so many forex brokers are offering attractive bonuses, it can be confusing to choose the best among them. In order to understand which bonus is most profitable, you first need to understand different types of bonuses being offered. Once you are clear about types of bonuses, you can go ahead and check out the bonuses being offered by various brokers and weigh them against each other. You not only need to consider the bonus amount, but also the withdrawal restrictions. You may be required to conduct a certain number of trades to be able to withdraw your bonus amount.

It is advisable to choose a broker offering bonus on terms you are comfortable with, even if the bonus amount is comparatively low. Between deposit and no deposit bonuses, the later may seem attractive, but such bonuses are often very small. While small no deposit bonuses may be a good option for beginners, bigger bonuses offered as a percentage of your deposit may be more profitable for experienced traders. Some brokers also offer bonus for referring your friends. Such bonuses are usually offered as a fixed amount rather than in percentages. You need to consider all the bonuses offered by different brokers and their withdrawal terms to be able to choose the most suitable option.

 

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