Apart from standard aspects such as spreads and minimal deposits, this type of forex bonus is considered to be the main attraction that attracts traders. In general, 2 types of forex bonuses are most popular among traders; trade and deposits. The difference between trading and deposit bonuses lies in how they are obtained.
If the trading bonus is obtained by making trading transactions, the forex deposit bonus is obtained by completing the process of depositing (filling funds) into the account. In particular, this type of forex deposit bonus allows you to increase the resilience of the margin.
Know the Types of Forex Bonuses
Various types of forex bonus are most often offered by the best forex brokers, including:
Welcome Bonus
Not substantially various from its name, this forex bonus is used as a welcome present to welcome new customers who register. That’s why the welcome bonus is only valid for the first deposit.
There are forex brokers who state the amount of the welcome bonus directly in nominal currency (forex bonus $30, $50, etc.), but there are also those who declare it as a percentage (15%, 20%, etc.). The amount of the second bonus depends on the deposit amount of the client. So the bigger the deposited funds, the more additional deposit bonuses you are going to get.
Forex No Deposit Bonus
This type of forex bonus is unique because it can provide trading opportunities without capital. Here, forex brokers will provide trading capital for free, so you don’t need to make any deposit to be able to start trading on a real account. This lucrative advantage mostly applies only to the first deposit, so this no deposit bonus can still be categorized as a welcome bonus promo.
Forex Deposit Bonus
If you want to keep your trades going, it is not possible to make a one-time deposit. Of course, there are times when you need to provide an ‘injection’ of funds into a trading account. Well, this is where forex deposit bonuses come into play.
This last kind of forex broker promo features a specific feature that lets you receive a bonus on just about every deposit. In contrast to the welcome bonus which only serves to welcome new clients, this type of forex bonus is very instrumental in reducing the burden of depositing clients, both old and newcomers.
How to Understand the Best Trading Bonus
Learning about deposit bonus offers from forex brokers is very easy. You must have seen so many sparkling ads everywhere that give a bonus of 30% even though in some conditions the 30% bonus is in a low category. Some brokers may even provide bonuses of up to 200%.
Most of the big brokers don’t offer any bonuses, people tend to think that bonuses are only offered by market makers. But this is not always true. It is also possible that this is not true at all. Some brokers only act as agents who offer bonuses, there are even some market makers brokers who do not provide deposit bonuses on your forex trading account. Then how do choose the best forex bonus strategy?
Step 1 – Find a Good Broker
It is not straightforward, but it is not too hard either. The first step is to choose a broker, if you don’t know how to do it you can read the tradersunion.com guide. The rule of thumb here is don’t open an account because of a bonus! Choose a broker that has the best trading terms and conditions and suits your needs.
Step 2 – Research the Bonus Options
Once you choose a broker, make sure they offer a bonus before you make a deposit. Don’t worry if the website doesn’t explain any bonuses, you can email their customer service or ask the Client Manager.
If you already have an account with a certain broker, it may be a little difficult to get the bonus. In general, it is best to send an email to the Client Manager notifying you that you have received a bonus offer from another broker.
Note that you should be able to withdraw your bonus cash. Research the requirements! It is important to understand each forex bonus strategy.
Step 3 – Know Your Method
Forex Deposit Bonuses are one way to get compensated for spreads and commission fees. This is why forex bonuses usually depend on the volume of transactions. If you have traded before, check how much volume on average you make per month. Take 80% of that volume and look for bonus offers with trading volume below that.
Important Things About Forex Deposit Bonus
Seeing the various forex bonuses above, you might immediately think of taking advantage of them, and quickly register with the best forex brokers that provide deposit bonus promos. However, it should be noted that you will find unique situations for each broker bonus. The bonus range of each of the best forex brokers can vary greatly.
The larger the amount of the forex bonus, the more complicated the conditions set by the broker will be. Therefore, a bigger forex bonus just isn’t necessarily improved than a promo that offers a compact bonus.
Also, brokers who provide amazing amounts of forex bonuses are suspect. We recommend that you choose a broker that is trusted, such as the www.tfxi.com forex broker. By choosing the right broker, you will be safe in trading and get real bonuses. Now that you understand the types of forex bonuses, you can start learning to multiply your profits.