Forex Bonus is a term that is widely used in the Forex industry. It is a value given to you by a broker as an incentive to open an account with them, or as a reward for making specific trades. In all cases, it is money that you can use to trade with.
What Is Forex Bonus?
Forex bonus is a form of reward for forex traders who open a forex trading account with a broker. A forex bonus is not the same as a deposit bonus, which is often offered to customers who use their credit cards to fund their trading accounts.
Treat it as additional money the broker is giving you to start trading.
The amount of the bonus usually depends on what type of account you open and how much you decide to deposit into your account. In addition, some brokers will offer free training as well as bonuses if you decide to sign up with them.
There are two types of bonuses that you can get when opening an account with a forex broker:
The welcome bonus: This is the most common type of bonus and is available when you open an account with any broker. To qualify for this type of bonus, you have to meet specific requirements such as depositing a certain initial amount or trading through a specific number of trades.
Other types of bonuses include:
A deposit bonus: This type of bonus is usually offered if you are depositing funds into your account via credit card or bank transfer. You can get anywhere from 5% up to 50% of your deposit as cashback or in the form of additional
How Does A Forex Bonus Work?
A forex bonus is offered by brokers to attract new traders to their platforms. A forex bonus is different from a welcome bonus, which is offered by the broker to all types of traders.
The way a forex bonus works is that the broker will match all or some of the deposit money a trader makes. The trader can make a deposit of $100 and the broker will add another $200, making his total amount deposited $300.
Who Offers the Best Forex Bonuses?
It is hard to say which broker offers the best Forex bonus. However, there are many factors that need to be considered before you start trading. These factors include:
1) The amount of the bonus being offered. Usually, this varies from $50-$500 and more. This can be credited to any account that you open with the company, including a demo account if you want one.
2) How long do you have access to it? Many brokers give their new clients free bonuses for only one month, which might not be enough time for you to evaluate the quality of their services and withdraw any profits that you made through trading. Other companies will give it for as long as you have an active account with them.
3) Whether or not it has any restrictions attached to it. Some brokers will require that you trade a certain number of times in order to access your bonus while others might have other restrictions
Top 10 Brokers Offering Bonus
Currently, there are over a hundred Forex brokers in the market. Start with a cent account forex brokers Choosing the right one is not an easy task, because most of them are quite similar. Traders Union has done the research for you and compiled this list of best Forex brokers with a welcome bonus to help you get started. The top 10 Forex Brokers from Traders Union with Welcome Bonus include:
- RoboForex
- InstaForex
- FBS
- XM
- AvaTrade
- Tickmill
- FXOpen
- WelTrade
- World Forex
- Libertex
