Forex bonus on deposits may seem like a simple concept to grasp, however it may actually not be as easy as it appears. To introduce you to one of the most exciting and interesting topics in financial trading, we present you here with our exclusive Forex broker bonus guide and a few handy tips to choosing the top Forex brokers bonuses in the market.
How Does a Forex Broker Bonus Benefit Traders?
It may be hard to believe that some novice investors had no idea what a Forex brokers bonus is or its implications on their investments. If you are one of them, you should be aware of some of the important features of brokers bonuses, and therefore, you would benefit from gaining more knowledge about the different types of Forex promotions available in the market.
Even if you are an experienced trader, there’s no harm in benefiting from a Forex deposit bonus, which can certainly increase your exposure in the markets without additional risks.
A Forex brokers bonus is similar to the concept of bonuses and offers that you might have seen on different online portals such as gambling websites, sports betting pages, as well as on TV or online shows and games. Forex bonuses have their own distinctive features. A Forex brokers bonus may also be referred to as a promotion, a special offer, and sometimes even as a gift, or may also be considered as a part of a company’s seasonal promotional campaigns.
In all cases, a bonus comes free of charge, but that does not mean that there are no terms and conditions associated with it. It is recommended that all traders read these terms and conditions thoroughly so that they will have no problems when they use or redeem their chosen bonus offer for trading the Forex market.
In general, any Forex brokers bonus is a type of promotion that the company gives to its customers. Bonuses that are from a specific trading platform or a broker, however, only applies to the customers of that particular platform. There is no such a thing as a universal bonus that you can use anywhere you like.
Also, brokers are free to specify their own bonus conditions and may release as many special offers as they wish, and may restrict the use of bonuses to their traders according to the type of trading account that they choose.
The main goal for a Forex trading website behind offering bonuses is to attract more customers or to keep their existing traders from defecting to other brokers. Forex bonuses are intended as a key promotional strategy used by FX trading companies to incentivize clients to keep using their services.
The Different Types of Forex Brokers Bonuses
Bonuses for beginners – These are the most popular and successful bonuses because they aim to attract customers to a specific trading site. These bonuses cannot be used twice or by anyone who is already registered in the Forex broker’s system.
Bonuses for regular/existing customers – Just as attracting more new clients is an important aspect for a broker, holding on to the existing clients is also essential from a company’s perspective to enhance their online reputation and improve customer satisfaction ratings. Here is where regular customer bonuses come into play for existing traders.
Which Forex Bonuses Are Right For You?
You can find the best Forex broker bonuses from the many broker options that are available in the market; however, choosing the right bonus offer that meets your needs is a decision that you will need to make for yourself.
Although novices will usually prefer a welcome bonus that matches their deposits, more experienced and advanced traders will enjoy a greater benefit from different promotions such as cash rebates, loyalty programs, and reward points that are accumulated through trading.
If you want to choose the best Forex broker bonus that has the potential to increase your account equity with minimal risk, you first need to know about all the advantages and risks of Forex bonuses exactly.
Forex Bonuses: Short Glossary
Deposit Bonuses – make a deposit and get % bonus on deposit.
No Deposit Bonuses – a free bonus to new clients – a live account to start trading immediately with no deposit required.
Volume Bonuses – high volume traders are offered cash back for their active trading.
Freebies – everything from free books to free course, seminars and other educational materials.
Rewards – different bonuses given as reward for completing certain requirements.
Rebates – cash-back bonuses for trading.
Forecast Bonuses – a trader who makes the closes prediction wins a prize.
Draw Bonuses – prize winners are determined in a draw.
Demo Contests – contests on demo accounts, as a rule, with real cash prizes.
Live Contests – contests on live accounts with large cash prizes.
Refer-a-Friend Bonus – when you refer a friend to your broker, you and your friend can get bonuses.
Expos & Events – inviting you to visit various Forex events & expos worldwide.
Binary Options – another way of trading using binary bets.