Looking for the Best Forex Bonus? Keep Reading and We’ll Fill You in on the Details
The world of Forex trading is constantly expanding, almost on a daily basis. So much so in fact, that there is something to offer every kind of trader. However, such a rapidly expanding market means that for many it can be very confusing, and there are a number of people who struggle to know where to start. There are so many different websites that all seem to offer the same thing, and a few options are good, but hundreds can be very overwhelming. If you’re one of these people you’ll be pleased to know you’re in the right place. Providing of course, you keep reading.
An important part of trading for all new Forex traders is to gain an understanding of all the different elements that make up a successful Forex trading journey. One of those is the Forex trading bonus, but it can be a struggle understanding all the variations and knowing which one is the best Forex bonus for you. You have a couple of options. The first is to spend hours, may be even days, scouring the web for the latest, top rated Forex bonuses available. The second choice is much simpler and far less time consuming. Stay here with us, because we’ve already spent days doing the legwork for you. And gathered all the pertinent details together in one place.
So let’s continue our journey and introduce you to Forex broker bonuses, what they are, how much they can be, how to take advantage and whether they are worth it.
The best place to start is to look at all the different types of Forex bonuses available, and then we’ll look at how you can find the best Forex bonus for you and your needs.
What is a Forex bonus and how can you get one?
A Forex bonus is a promotion, often offered on a regular basis, that is offered to new customers, as well as those who already have a trading account with a particular Forex broker. Sometimes they are given without any obligation, other than opening a trading account, but they can also come laden with very heavy terms and conditions.
Time to consider some of the Forex trading bonuses available.
Forex deposit bonus – Quite simply this type of bonus does exactly what it says on the tin. Make a deposit and you can receive a Forex bonus. The bonus is usually available for all clients, and the only stipulation is for an account to be opened with the broker offering the deposit bonus, and for a deposit to be made. The bonus can be offered when an initial deposit is made, but it could also be awarded for all subsequent deposits. Generally, this type of deposit is expressed as a percentage. Say, for example, you make a deposit of $100 and the bonus offered is 50%. After the deposit bonus is awarded there will be $150 in your account to trade with.
No deposit Forex bonus – This type of bonus is awarded to new customers without the need to make a deposit. It is usually added to a trading account immediately upon opening the account. Seems like a pretty good idea, because you’re being given the chance to trade without risking or investing any real money. But there can sometimes be a nasty catch. You could be hit by a hefty trading requirement before you can cash out on any profits you make. However, if you’re serious about Forex trading there should come a time when you’ve hit the required level, and you’ll be able to make a withdrawal without having to comply with any further terms and conditions or pay a large fee.
A welcome Forex bonus – This type of bonus is great if you want to check out a particular broker, without risking any real cash. The reasoning behind offering such a great bonus, is for it to attract new clients, and hopefully they’ll be hooked. This type of bonus is never offered to clients who are long standing customers of a broker, and are a one time only offer.
VIP Forex bonuses and bonuses for regular customers – Although a broker’s current clientele aren’t able to take advantage of a welcome bonus they don’t always get left out. As there are a number of other attractive Forex trading bonuses available, designed especially for long-standing and loyal traders. A VIP bonus is slightly different in that it is generally connected with a certain kind of account. In order to apply for a VIP bonus a trader has to open a VIP account, which is often accompanied with a high minimum deposit requirement. Opening a different account such as a mini, micro, standard, gold, or silver account means you’ll be missing out.
Forex reload bonus – This type of bonus is available for regular customers, and could be as much as 50%. Top up a trading account by making another deposit and this bonus could be made available immediately.
Volume bonuses – offered to high volume traders as a cash back for their trading activity
Freebies – These won’t necessarily be cash bonuses, but are more likely to take the form of educational material including free eBooks, webinars, training videos, and courses
Rewards – These generally require you to meet certain requirements
Rebates – A cashback bonus for trading with a particular Forex broker
Forecast bonuses – These are more of a prize should a trader be able to make a certain kind of prediction
Draw bonuses – This usually takes the form of a prize draw
Demo contest – These can be real cash prizes, but take place if a trader is using a demo account
Live contests – Again there are real cash prizes but trading has to be taking place in the live arena
Refer-a-friend bonus – Get a friend or family member to sign up with your broker and you could get a substantial onus
As you can see there are a number of different ways to add more money to your trading account, as well as to win some interesting prizes. But are there any special ways to find out what the best Forex bonuses are? Keep reading and we’ll fill you in on the details.
Tips on finding the best Forex bonus
If you’ve read enough now to peak your interest you may be wondering how to find out about some of these bonuses. And most definitely be wondering which are the best ones to choose. And we know this can apply to beginners, and also to those who have already been trading for a while. After all, it’s human nature to want to take advantage of this kind of deal, but it’s not always easy to find them. So let’s share some tips on how you can find out about various Forex broker bonuses, before said offers expire.
Do some of your own research – You’ve already got a head start because you found your way here. But there are plenty of other places you can go with the help of your favorite browser. Just type in the words ‘best Forex bonus/ Forex trading bonus/ forex broker bonus’ and you’ll be amazed at the number of hits you get. It won’t be long before you’ve got a long list of possibilities.
Read some customer reviews – Everyday there are more Forex brokers touting their wares, and it doesn’t look like there is any end to the expansion of this market. There is no way you can sign up to all of them, and take advantage of all the bonuses available. One good way to whittle the numbers down is to spend some time reading various customer reviews and testimonials. The web is full of them, but don’t rely on them entirely. You need to box a little clever and realize that some of the reviews are basically only ads, and some may even be fake. However, if you’ve got enough time to read quite a few you should be able to get a more balanced idea of the broker in question.
Let us help you with your search – We’re not saying we have all the answers, but we are able to offer an honest and unbiased look into the world of Forex and all the different bonuses available. We’ll be sharing a list of the most popular and tested platforms, some of the best Forex brokers, and some of the most interesting and advantageous bonuses on offer.
To finish up we have to admit that we won’t be telling you the best bonus available, as there are quite simply so many of them, and they are always changing, almost on a daily basis. However, our aim is to bring you some of the best deals available, and then leave it up to you to decide which one is the right one for you. So stick with us, and we’ll continue to guide you along the road to Forex trad