USING THE BEST FOREX BONUS FOR BOOSTING YOUR ACCOUNT EQUITY

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Forex trading is an attractive money making opportunity that has taken the financial markets by storm. Unlike traditional forms of investing, FX trading does not require you to have massive amounts of capital to invest in the Forex markets. Nevertheless, the Forex retail trading offers numerous offers and attractive promotions to entice new traders into sampling the Forex market without risking their own money. Promotions are offered in different forms, which are offered either as Forex bonuses or as prize rewards. Some of the best Forex bonus offerings in the market can match up to 200-300% of the initial deposit made by a trader, while other promotions include cash rebates, no deposit bonuses, seasonal gifts, free electronic gadgets, and more.

Reviewers do not generally endorse forex bonuses due to the various conditions associated with these promotions. Brokers are often stringent in their guidelines that limit the freedom for traders while handling their money. In fact, some brokers are known to actively block their clients’ trading capital until the traders meet the required bonus terms. We have witnessed a significant number of financial scams and several instances of consumer abuse that can be directly attributed to the bonus terms and conditions, which have led to a massive amount of negative reputation for the Forex market as a whole.

Bonuses are not all that unattractive, as some of the top Forex brokers offer great Forex bonuses that are devoid of any challenging or uncompromising guidelines. These bonuses can help you to increase your trading capital without assuming any unwanted risks. A trader-friendly Forex bonus package provides you with an incredible amount of leverage and the freedom to open trades with a higher trading capital. Professional traders consistently take advantage of the leading bonus offerings in the industry to increase their market exposure and enjoy more profits from their increased capital inflow. Forex offers can act as a great asset in FX trading, especially if you are aware of your rights as an investor and are proactive in exercising due diligence while making your initial deposit.

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Why Do Brokers Provide A Forex Bonus & How Much?

Forex brokers generally provide bonuses as an incentive for signing up, which enables traders to test the company’ various FX products and services. Forex bonuses are not to be confused with a novelty feature, as these promotions are similar to the conventional rewards and gift programs that are commonplace in the retail consumer market. In Forex trading, the gifts are replaced by tradable funds in the form of trading credits, which offer monetary compensation for making a deposit or for transacting the required number of lots in the market. The primary goal for any rewards-based program is to attract new customers, regardless of their geographical location or professional trading history.

Forex brokers offer bonuses that start at 5% of the initial deposit made to a trading account, which can go all the way up to 500% depending on the broker. Regulated brokers mostly stay away from any bonus programs due to the conflict of interest with their clients, but there are a few regulated FX companies that provide a bonus ranging from 10% to 50% of the deposit amount. Brokers may also offer bonuses and rewards for traders that are willing to switch their accounts to a new broker. However, it is highly interesting to note that bonuses are primarily reserved for new traders and customer acquisitions, with only a handful of companies opting to provide continued promotions for their existing clients and their additional deposits. The choice of your broker will ultimately decide the amount of bonus that qualifies for your deposit amount and the conditions associated with receiving such a bonus.

What Are The Different Types Of Forex Bonuses?

There are different categories of Forex rewards and promotions that are designed to target a broad range of traders from various parts of the Forex market. Here are some of the best Forex bonuses that are popular among both brokers and retail Forex traders:

Deposit Bonus

The deposit bonus is a conventional Forex bonus that is directly proportional to the trading capital deposited into a brokerage account. Brokers are very clear about the exact size of bonus that is available for a particular amount of deposit, which is usually measured in percentage terms. Some brokers might offer a fixed deposit bonus system according to their products portfolio, but for simplicity purposes, deposit bonuses are usually offered as a percentage of the initial deposit. Most regulated brokers offer a bonus in the range of 5-50%, while Forex bonuses as high as 200-300% are not uncommon.

No Deposit Bonus

No Deposit Bonus is a bonus program that is offered to traders without stipulating any minimum deposit requirements. No deposit bonuses are small account boosters that are worth anywhere from $1 to $500, which in turn allow clients to test the platforms under real trading conditions without making a deposit. Regardless, most no deposit bonuses have very severe trading conditions when it comes to withdrawing profits. Almost all brokers usually don’t permit their clients to withdraw the bonus money, but there are a few companies that might allow partial or full withdrawal once the trader completes the required number of lots. Be careful about using these no-deposit bonuses if you are looking to make a deposit in the future, as there might be hidden conditions that might prevent you from withdrawing your own money without satisfying the broker-induced conditions.

Account Transfer Bonus

Account transfer bonus is an incentive program designed to help traders switch their brokerage accounts by transferring their funds from one broker to another. Several large and professional traders often make use of this type of bonus to increase their trading capital without actually investing in the markets.

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Some brokers offer as much as 25% bonus for transferring all of the funds from another broker to their own account, while traders can increase this bonus further by negotiating tactfully with the company representatives. Of course, this kind of bonus cannot be withdrawn directly, unless the trader transacts the minimum amount of volume in the markets to offset the broker’s bonus costs.

Loyalty Program

Loyalty programs are designed to increase customer morale, especially for existing clients who have faced heavy losses in the market. Brokers understand the need for enticing traders with promotions and Forex offers that will keep customers trading on the same platform, instead of moving on to greener pastures. Loyalty programs are often provided by high-quality FX brokers that are incredibly committed to the best in customer satisfaction. Mainstream Forex brokers have different loyalty programs that are specifically tailored to individual client preferences.

Seasonal Promotions

Seasonal promotions are a huge part of Forex bonuses, especially during holidays and events that are accompanied by immense market volatility. Brokers try to cater to traders from different geographic locations by releasing seasonal bonus programs that are only available for a limited period. Seasonal FX bonuses are not as reliable as the traditional bonus programs, especially since most seasonal promotions might have expired by the time a trader comes to learn about it.

Cash Back And Rebates

Forex trading is an expensive financial product that has many associated fees of trading such as spreads, commissions, and SWAPs. During the course of a trading career, a trader will transact multiple times the amount of his or her trading capital, especially since most traders enter multiple positions and exit them at nominal profits or losses. The minimum margin requirements and higher leverage also give traders an opportunity to control large positions, which ultimately result in increased cost of trading. Brokers earn quite a significant chunk of these expenses, especially market maker brokers, who are known to profit from their clients’ losses.

Traders are provided an opportunity to sign up for cashbacks or rebates as part of their trading account, so as to create a sense of personalization and devotion among clients. These cashback features are often linked to loyalty programs, which increases according to the duration of trading and the magnitude of the trading account. Therefore, older clients that transact substantial volumes in the market will receive more money as cash backs, spread rebates, or outright cash rewards than newer clients. Such a move will ensure that existing customers will take advantage of these programs to earn more money in the long run.

Affiliate Bonuses

Affiliate marketing is a large part of FX trading, especially in countries where Forex brokers have a negligible presence. Affiliates and Introducing Brokers act as a company representative in lesser-known geographic locations, and are free to interact with the clients in accordance with the rules set forward by the broker. Therefore, affiliates and IBs sometimes enjoy a certain amount of freedom to stipulate bonuses, rewards, and other gifts to tempt traders into opening an account with the company. Affiliate bonuses can change from time to time and are not considered to be as reliable as a regular bonus.

VIP Bonus

Institutional traders and professional investors receive custom-tailored VIP bonuses for making a large investment into a brokerage account. Unlike retail traders that deposit a few hundred or even thousands of dollars into a trading account, professional traders are known to trade with millions of dollars as trading capital. Brokers might attract these traders by offering a fixed return on these large trading funds, a hefty bonus, and even other types of rewards that will help larger traders to make the investment decision based on the benefits. However, professional traders are highly concerned about the security of their funds, and will not deposit money into a broker unless they are satisfied with the overall regulatory compliance and reliability of the company.

Electronic Gadgets & Gifts With Redeemable Points System

Another new concept in Forex trading bonuses is a reward-based points system that qualifies traders to buy free electronic gadgets and other accessories by redeeming the points accumulated through trading and other financial transactions. Although this type of reward system is not as popular as the conventional FX bonus, a few brokers have experimented with this concept successfully. Electronic gadgets under these kinds of promotions can range from small media devices such as iPods to smartphones, TVs, laptops, tablets, and home theater systems.

Staying On Top Of Seasonal Forex Offers

It is naturally very easy to find the best Forex bonuses from brokers if they are offered to all clients regardless of any timeframe. However, brokers are known to introduce amazing new bonus programs and Forex offers that are simply too good to be missed. These bonus packages are usually made available for limited period of time, which makes it important for traders to stay on top of these seasonal reward programs by signing up for relevant newsletters from brokers or affiliate partners. At BestFXBrokers.com, we keep track of all the best FX bonuses provided by top Forex brokers to offer you the best environment to grow your trading capital.

Top Reasons To Decline A Forex Bonus

Forex bonuses are common among FX brokers, but it does not mean that you have to accept them all the time. Forex bonuses have some limitations and drawbacks, which may hinder a good trading experience. Here are a few reasons why you should decline a FX bonus, immaterial of how attractive it may be:

  • If your broker imposes severe restrictions on your trading capital.
  • If the broker is not clear and transparent about its bonus terms and conditions.
  • If the broker offers you free money at the pretext of making a deposit that cannot be withdrawn for some reason.
  • If the broker lures you into FX trading by offering false or improbable promises.
  • If accepting a bonus forces you into over-trading or deviating from your trading strategy.
  • If you are dealing with a non-regulated Forex broker.

Paying More Attention Towards The Quality Of A Broker, Rather Than Their Forex Bonus

While bonuses may seem like a smart choice for traders during the initial phase of their trading career, you should always pay close attention towards choosing a high-quality broker that is regulated by a reputed regulatory organization. You should realize the fact that the safety of your funds is more important than getting a bonus, regardless of how striking the bonus might seem to be. A regulated and reliable broker will always offer you a better trading environment, ensure better security for your funds, and an excellent return on your investment over the long haul than any other dubious broker that may promise insane bonuses at the time of opening an account.

Most reliable brokers that have many years of experience in the industry do not offer a bonus due to the very fact that a bonus can create rifts between the broker and the trader. For the same reason, regulatory organizations also keep a close watch on their member brokers to ensure that there are no financial disputes between the company and its clients due to external reasons such as bonuses and promotions. Yet, it does not spell disaster for traders that thrive on bonus, as you can find brokers that offer the best of both worlds without making any compromises on their customer-oriented approach.

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