All Forex Bonus: Types and Benefits
Forex bonus helps to increase the number of funds that a trader plans to invest in deals. The rewards are issued by brokers striving to attract new clients. Let's analyze what types of bonuses exist and what you need to know when choosing them.
Welcome Bonus Forex
The primary and most attractive type of reward is a welcome bonus Forex. It is provided to beginners who register for the first time on the broker's website. Most often, the award is offered as a fixed amount or percentage of the first deposit made. For example, the reward may look like this:
$30 No Deposit Bonus or $100 New Customer Bonus - the sum is immediately credited to the open account before the first deposit is made.
100% Welcome Deposit Bonus - the size of the reward depends on the deposited sum. The broker usually sets the maximum limit for payment.
No deposit bonus Forex
No deposit bonus Forex includes awards that do not require a deposit to the account. Usually, it means a fixed amount of 10 - 100 dollars, which the broker assigns to the client.
Please read the terms of Forex no deposit bonus posted on the company's website.
For example, some brokers do not allow withdrawing funds received as a gift.
The bonus can only be credited to certain types of accounts.
In some cases, the reward is available only for new clients. And sometimes to all who refill the balance repeatedly.
Other types of bonus Forex
What else can a Forex Singapore broker offer its clients? The company often develops a whole loyalty program, which includes various rewards. The client must accumulate specific trading volumes and fulfil conditions to move up the levels of this program.
As a reward, a broker may issue a Forex bonus:
Free market signals
Cashback up to 50% (and more)
Awards for trading volume
Incentives for new deposits
The VIP-program: personal manager, increased leverage, guaranteed spreads and others.
Brokers also offer referral programs which include rewards for inviting friends to the site. The newcomer enrols, so some per cent of his deposit goes to the one who brought the novice.
All reputable brokers provide demo accounts. It' s free accounts with virtual currency. Thanks to this money, you test a broker's platform or practice trading without any risk. A trader will learn the nuances of work or strategy without spending money. And then he can switch to a real account and apply the gained experience successfully.
There are also seasonal promotions. For example, you can win prizes in honour of Christmas or through participation in trading competitions. In any case, read carefully the terms of promotions and Forex bonus posted on brokerage websites.