Although bonuses are the key importance in forex market they can be the problems for traders or the benefit they can get. Today, I give traders and especially new traders some insights from my experience and my studying from forex market that make it clear for you about the best welcome bonus forex or some elements to consider around the bonuses.
How many types of bonuses?
There is the fact that brokers offer more than one bonus. Beside welcome bonuses, some brokers also encourage their clients by deposit bonuses or lot back bonuses.
Lot back bonuses are the most favorite one for most of the traders, especially the professional ones because they can reduce an amount of trading charge with this kinds of bonuses. This bonus goes like that brokers will rebate an amount based on the pair of currency traded and the time traders finish the trading. For example, with the EUR/USA, the lot back bonus program will subtract an amount of 3$ or 0.3 pip for the spread rate and then you just needs to pay 1.1 pip or 11 $ thank for the lot back bonus.
Deposit bonuses are based on the amount of the money from your deposit, which may encourage brokers’ traders to put more money to trade for this kind of bonuses
Some aspects of good welcome bonus brokers
That is sure to know about how to criticize some features from brokers to decide on which one is the most suitable for your trading plan or your aim for bonuses from trading.
Reliable brokers are good
That is right to want more and more money from trading but traders need more care about the reputation of the brokers than the bonus programs that brokers provide because if traders are careless about the scams or transparence of the brokers they can lose more money or they can get trouble being not aware of the trading condition of
The convenient withdrawal process
Anyway bonuses are just the plan or scheme of the brokers to gain more clients. As a result, they try to limit the amount of money that traders can have if they win by presenting the requirement about the number of trading lot or they just let the winners have the profit from the bonuses only.
– For XM which is the open gate for bonuses claims only 0.1 lot completed for the bonus.
– About FXTM, the amount is little bit higher with 1 lot but it is quite easier than FBS which require a lot more lots to get the bonuses. Although their welcome bonus can reach 123$ they ask for 20 lots traded for 60$ after 7 days of trading.
The value of bonuses
It is obvious to care about the number of the quantity of the welcome bonuses since it is confusing to know and take long time to get the benefit then traders have the right the consider the amount they can have from the welcome bonus. As I mentioned above, FBS has the greatest number with 123$. Meanwhile, FXTM or XM has the same number with 30$ for the welcome bonus.
At the moment top three best welcome bonus brokers
The list is totally helpful for who is seeking for the right place to invest your money. These brokers are of course checked through some aspects of the most reputable brokers who are giving the welcome bonus program.
From my experience of trading I suggest that XM is the most suitable and convenient brokers one who even have the deposit bonus reaching 100%.
Should we place the bonus money over the other trading conditions?
With a lot of mistakes and learning, I have known that bonuses are the good way to reduce some fee or to get the experience of trading but this is not the key to decide which are the best brokers for your safety and benefit because trading conditions or credibility of brokers can cause some more significant effect on your trading.
In addition, bonuses are not the amount can be withdrawn smoothly. Brokers give some conditions for this process about the trading lots or the profit of the bonuses. First, that is the number of lots you trade and finish before you can get the bonuses. Or, with the brokers that do not open a way for withdrawing bonuses they offer the profit from the bonus amount you have.
How to gain trick some more bonuses
It can not be morally good to trick or cheat but with the fact that traders can not even get the bonuses easily it is quite fair to have some skills to get the money from the bonuses. There are two common techniques for that
– Make multiple new accounts and hedge two accounts with one can be lost and the other can be won in order to make an 50% winning accounts. By that way you can have a chance to have the profit from many of your accounts and be aware that this kind of cheating is for the brokers with the simple withdrawal process.
– The second way is related to the high leverage of the brokers. With these brokers, cheaters also open many accounts and make one account with 50% of winning then from the high leverage make the greater deposit to win bonuses.
Summary if the best bonus programs from brokers
From my studying and many of the survey, for your quick knowledge of the best in each type of bonuses, here I provide the brokers with the best bonus types.
- Best welcome bonus – XM with 30$ welcome bonus and FBS with 50$
- Best deposit bonus – XM with 100% deposit bonus
- Exness bonus: 2 – 16$ rebated per lot
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