What Are The Types Of Bonuses In Forex And How To Use Them – There are many types Forex bonuses offered by the broker. Forex bonuses from brokers help you find the best bonuses for every need. In this article I have mentioned best forex broker which offers the best bonuses, namely: Forextime (FXTM).
If you are not very familiar with the various types of forex bonuses offered, here I have compiled some of the most popular types of forex bonuses and are often offered in the forex world to help you understand the different types of forex bonuses available so that you can choose the best one for you.
Forex No Deposit Bonus
The Forex No Deposit Bonus is a free bonus offered by many Forex brokers to attract new traders to open accounts with them. It is intended that you can get free funds which you can use for trading by simply opening a new trading account. The value of this bonus differs between forex brokers, but is usually between $ 10 and $ 100.
To be eligible for a Forex trading bonus, certain conditions must be met before you can spend money. There is usually a certain number of trades that you need to participate in and some brokers require you to make an initial deposit before making any profit.
Margin Bonus or Rescue Bonus on deposits
The margin bonus allows you to use forex brokerage funds as trading capital. Should you lose your capital, the lost value allocation will be denied your bonus. As an example. If you deposit $ 1000 and receive a 30% buyback bonus (Margin Bonus), your new net worth will be $ 1300.
Now, if you lose $ 300 on a trade, your 30% will be rejected from the bonus which (in this case) is $ 90. So your total loss is between $ 300 and $ 90 = $ 210. Therefore, you have savings. $ 1,000 against $ 210 and now you have $ 790 in your account.
Without the buyback bonus you would have lost $ 300, but with the typical margin bonus you have saved a $ 90 loss, which can certainly help you a lot.
Volume Bonus
In case you are a trader with high amounts, the bonus amount may be best for you. With the bonus amount, you can receive up to 100% of your deposit, so it can be withdrawn after the specified amount has been reached. To take full advantage of this bonus, you need to reduce the volume and then remove it.
This type of bonus is perfect for long-term traders. If you spend before the amount runs out, the bonus bonus will be issued when you spend the funds.
Forex Welcome Bonus Promotions
Forex welcome bonus promotions are often offered to beginners. Forex brokers use this promotion to convince customer new to open a trading account with them. New brokers often offer huge welcome bonuses because they want to build a large customer base, although recently some of the more popular brokers have also offered welcome bonuses.
The main things to consider in most forex welcome bonus promotions:
- This is a one-time bonus offered to traders when they register for a real account. You can only receive it once or the next deposit.
- The welcome bonus is not available for spending but is used for trading stocks.
- There are terms and conditions that usually apply to you to be eligible for this bonus. For example, you need to pay a certain deposit or redeem a number of tickets.
- If you are not eligible, you may score against the retired team. Therefore, it is always important to read terms and conditions carefully to avoid scoring against your team.
The welcome bonus is usually the best bonus offered by a forex broker. However, you must first make sure that the broker is trusted forex broker. The Forex Bonus Broker helps you because we only list the best brokers with the best promotions.
Read: 5 Best Software and Applications for Forex Trading 2020
Discount Bonus Or Cashback Bonus (Rebates Bonus Or Cash Back Bonus)
Rebates, also known as cash returns, provide a discount to dispense money quickly for each “lot” traded, but use up your trading capital. Different forex brokers offer different discount rates. Therefore, you may need to discuss with several brokers to get the maximum discount available. Most brokers offer discounts of $ 2 to $ 3 per lot, but some offer up to $ 10 per lot.
How to Choose a Good Forex Broker Bonus
The first thing to decide is which type of link is right for you. If you are new to Forex trading, you may be looking for a no deposit bonus for risk-free trading. If you are more experienced in trading, it is advisable to request a deposit bonus.
Advantages of Forex Bonuses
- Forex bonuses increase your trading capital and give you more control over your account.
- You can trade with higher leverage.
- The margin bonus allows you to trade brokerage funds and can also be used during margin call times.
- Discounts help you increase your profits.
