In today article, I am going to provide you with all a beginner should know about the best forex bonus 2019. This is obviously an attractive concern to anyone who are new to the forex market however leave them with a bunch of questions. Aspects of the problem that I am going to talk about include:
– Distinguish forex bonus types.
– Drawbacks of forex bonuses
– Withdraw your bonus
– Choose the right broker
– Top brokers with high credibility
– Best forex bonus from best brokers
– Bonus cheating
In fact, there are a lot of traders actually not interested in bonuses at all because of inconvenience. Meanwhile other traders usually beginners really prefer bonus programs since they help them to keep the trading costs lower and even earn more profits. Furthermore, some people may use techniques or cheats to hack the programs and make money which are also mentioned in the text then.
- Distinguish forex bonus types:
Different brokers especially new brokers offer different attractive bonus programs. But there are 3 common types of forex bonus in general that all brokers always offer:
– Welcome bonus (No-deposit bonus): Basically, you will get an amount of money when you first get registered to a broker. This amount usually fructuates from $30 to $50 in order to attract new traders or even the traders from other brokers. Certainly, this type of bonus is prefered by new traders as well as bonus cheaters. In my opinion, this is a good tool for the one who are new. They could use welcome bonus to practice trading and do experiments in regard to strategies. Meanwhile, cheaters take use of it by creating a bunch of accounts and get the free money with tricks.
– Deposit bonus: Another popular one is getting a bonus for each deposition. The value of the bonus is totally up to the broker. It might be 20%, 30% or even 50% of the amount that you deposited. This type of bonus is used as a tool to encourage traders who have not done any transactions for a long time. In addition, bonus for first deposit is also offered by the best forex brokers 2019.
– Lot back bonus (Loyalty bonus): You will also get a bonus for every lot you traded. It is similar to a kind of discount. For each completed lot, you are rebated with a portion automatically to your account. The value also depends on things such as currencies, account types as well as trading time. This is one of the helpful bonus that expert traders prefers since it helps to decrease the trading cost.
Example: XM’s spread for EUR/USD is 1.4 pip, and they will lot back $3 for each completed trading lot. It means you only pay $11 for each EUR/USD lot instead of $14 of the original spread.
- Drawbacks of forex bonuses
– Welcome bonus: It seems quite simple to get these bonus. However, traders may get lots of obstacles.
+ $50 is not attractive at all. Remember you are looking for greater things.
+ It is complicated to withdraw the bonus.
+ Brokers offering good welcome bonus are usually new brokers and new brokers are not reliable.
– Deposit bonus:
+ Difficult to withdraw bonus as well
+ Bonus lost situations may happen
- Withdraw your bonus
Brokers do allow their traders to withdraw the bonus money as long as the traders fulfill their particular requirements. Completing a certain number of trade lot is an example.
To withdraw $50 bonus, you have to complete at least 10 lots. When you register or deposit in 1 lot, they will deposit bonuses to your account instantly and let you trade. If you win, you only can withdraw that bonus when you have completed up to 10 lots.
Remember that there are some brokers do not allow you to withdraw the bonus itself but the profits earned instead.
These requirements are such obstacles to the traders who would like to withdraw the money. For the number of lots requirements, it even takes you more money to complete that number of lots than the bonus value.
- Choose the right broker
It is obvious that forex bonus is great. However, to choose a right broker is to choose the best forex broker that you can put all your trust in not the one saying they will give you bonus. Reliability is what you should look for when it comes to choose a broker. To choose the appropriate one for yourself, follow these main steps:
– List down 5 best brokers which are suitable for you.
– Choose best forex brokers that have good bonus program. Of course these brokers are very good. So if they have bonuses, it is much better.
– Trade and get bonuses.
- Best forex bonuses: TOP 4
From my experience, here are 4 best forex bonuses:
– Best welcome bonus: 30$ welcome bonus of XM
– Best welcome bonus: 50$ welcome bonus of FBS
– Best deposit bonus: 100% deposit bonus of XM
– Exness bonus: Rebate 2 – 16$ per lot of Exness
- Bonus cheating
Cheating is absolutely not recommended in any method. For your demand of information, there are 2 common methods that people may use to take advantages for themselves from the bonus programs:
– Begin with multiplying a lot of accounts. Next, hedge 2 accounts together which means keep one account win and the other lose. By doing this, you will maintain the winning rate at 50%.
– This method is alike to the above one. But you will earn your profits from the leverage that they offer for big investment. Similarly, you need a brokers that offer the leverage as high as possible.