Many traders choose brokers with the best forex welcome bonuses to get more profit. For these traders, bonuses can help them save a little money and calm their nerves. Besides, these can help lower their trading margins and reduce their transaction costs. However, some traders don’t like bonuses as they think that there will be risks when using them. In my opinion, welcome bonuses can be beneficial for all traders, especially beginners.
If you’re just starting your trading career, you should consider these favors. In this article, I will suggest some brokers with best forex welcome bonuses, such as FXTM, FBS and XM. To give you a better understanding, I will also explain all bonus- related aspects. My article will be divided into three parts as below:
1. Different Types Of Forex Bonuses And Their Disadvantages
There are many different types of forex trading bonus. But, the three most common types include welcome, deposit and lot back bonuses.
Welcome bonuses are also known as no deposit bonuses or sign-up bonuses. Generally, these bonuses are offered just when you open a new trading account. The amount of welcome bonuses can vary, depending on different brokers. Usually, it’s in the range of $30 to $50. Beginners often use these bonuses to practice trading. To withdraw the profits, they have to meet the certain conditions of that broker. Welcome bonuses are good, but can have some disadvantages. For example, brokers that offer welcome bonuses are mainly new brokers. They just want to attract new traders to open accounts with them, so they cannot be reliable. Besides, welcome bonuses are too little, whereas the withdrawal can be very difficult.
Deposit bonuses are often offered when you make an initial deposit with that broker. They are usually shown as percentages of the deposit amount. For example, if you deposit $100, you will take a 20%, 30% or 50% deposit bonus. Brokers offer these bonuses to attract traders to deposit more with them. Deposit bonuses are beneficial, but can still have certain restrictions for traders. For example, their withdrawal terms and conditions are difficult. In some cases, traders lose all bonuses when withdrawing. So, you should be careful about deposit bonuses before accepting them.
Lot-back bonuses are popular bonus programs for loyal customers. In this program, brokers provide rebates to traders on per lot traded. The rebate amount will depend on your trading capital, currencies, and account types. Lot-back bonuses can help reduce transaction costs. However, these only attract professional traders who invest large sums of money.
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2. How To Choose The Top Brokers With Best Forex Welcome Bonuses
Forex bonuses are everywhere. They are designed to persuade traders open accounts with a certain broker. However, not all bonuses provided by all broker are good. Bonuses can also vary, and broker scams are everywhere. Therefore, it’s very difficult to know which brokers are offering the best forex bonuses. From experiences of longtime traders, good forex bonuses are often offered by reliable brokers. Besides, these brokers tend to provide high bonus value and have easy withdraw conditions. Here are a few tips for picking the right broker with best forex welcome bonuses.
Tip 1: Looking at their license and regulation
Regulation is one of the most important factors to consider before choosing a broker. It can help identify if your broker is reliable and transparent. Reliable brokers often have famous and trusted licenses. These can be certified by reliable regulatory organizations, such as CySEC (Cyprus), FSA (Japan), ASIC (Australia), NFA, CFTC (United States) and FCA (United Kingdom). Brokers with reliable regulations can protect you when trading problems happen. Especially, they offer good trading tools and platforms, and effective management.
A regulated broker is also the person who has high transparency. They often provide all their information on their own websites. You can use the Internet to check their auditor’s reports and company’s annual reports. Besides, read customer reviews to be sure there is no scam or trick.
XM, FBS and FXTM are three most reliable brokers. So if you’re interested in trading with these brokers, you wouldn’t be worried about scams.
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Tip 2: Checking their welcome bonus value
In my opinion, the best forex welcome bonuses are those with the highest value. FBS offers $123 welcome bonus. This is considered the highest welcome bonus value in forex. FXTM and XM, on the other hand, offer a lower amount of bonuses around $30. If you’re interested in welcome bonuses, consider the above best forex broker.
Tip 3: Examining their withdrawal conditions
Most forex brokers offer various bonus programs to their clients. But, it’s not easy to withdraw bonuses from these brokers. In fact, welcome bonuses are used for trading capital, so it’s not available for withdraw. You can only withdraw profit made on those bonuses. In several brokers, you have to satisfy all their requirements for the withdrawal. For example, you have to complete the minimum number of trading lots. Or, you can cheat bonuses if the brokers allow you to withdraw without conditions. So, consider brokers with easy withdrawal conditions for better trading. These brokers include FBS, FXTM and XM.
If you trade with FBS, you can get $123 welcome bonus. After completing at least 20 trading lots, you can withdraw $60. For each lot, you can win $3.
About withdrawal conditions, FXTM and XM can be the easiest brokers. To withdraw your profits, you need to complete just only 1 trading lot.
3. Common Questions To Be Asked When Selecting The Best Forex Welcome Bonuses
Should I accept a good bonus or reject them?
As mentioned above, bonuses can have some certain advantages and disadvantages. If you’re just starting your trading career, bonuses can be beneficial for you. But if you’re a larger trader, bonuses can put you at risk of losing your money. So, think carefully before accepting forex bonuses. The few tips below can help you.
Look for reliable brokers
Consider brokers that meet your trading strategies
Think about brokers with good bonus programs
Trade and get bonuses.
How to get the best forex bonuses?
There are several ways to cheat welcome bonuses, according to many longtime traders. These are:
First, for brokers that allow you to withdraw profits without conditions, you can:
Open many new accounts to receive bonuses.
Create two hedge accounts.
You will have 50% to win.
Second, for brokers with high leverage, you can:
Create many new accounts to receive bonuses.
Open very big positions by using high leverage.
Create two hedge accounts to make sure you have 50% to win.
Which brokers are offering the best forex welcome bonuses?
From all the above information, you can choose 4 brokers that meet the qualifications of good forex bonuses. These brokers are:Exness, XM, FBS and FXTM.