For people who are fresh to the exchange marketplace, the welcome bonus will serve as an important boost for your calling. Consequently, it is necessary that you can pick a dealer with the best forex welcome bonuses plans for yourself. In this write-up, I will give you my personal opinions on this issue along with some of my thorough experiences and analysis of some agents that I believe to possess the best welcome bonuses forex plans.
Source: Wikipedia
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Dealers with the currently best forex welcome bonuses plans
After trading through the years and being with quite a lot of well-known and respected dealers, finally, I have managed to narrow my list of dealers who have the best forex welcome bonuses plans to 3 agents, XM, FXTM, and FBS. You can view more details in the following:
- XM
- FXTM
- FBS
I like XM the most out of the three dealers not only for their best welcome bonuses plans but also for the 100% bonus offer on any new deposition.
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The best forex welcome bonuses benchmarks
As the article is for the most part about the best forex welcome bonuses, here are my personal 3 benchmarks when choosing a dealer depending on their welcome bonuses programs:
- Simple withdrawal conditions
A large chunk of dealers have some really rigid protocols about pulling out bonuses. Truthfully, you will not be able to pull out your welcome bonus directly. However, don’t be worried because you are still able to withdraw the earnings that you got from trading with your bonus. That is why for why many dealers request certain conditions to be attached with pulling out your welcome bonus like the requirement of minimum lot traded. Here are some more specific numbers about the demand of minimum lot traded from the best ECN brokers that I have mentioned before:
- XM is far above the rest of the best forex brokers as it has the justest withdrawal demand. Traders who partner with XM will only have to complete 0.1 lot to be able to pull out their bonus profits.
- FXTM is the second best with the demand of 1 lot traded for traders to get their profits out.
- FBS has the 123 bonus plan with the max welcome bonus of $123. The highest of the profit you can withdraw for each lot you traded is a measly $3. Let’s take an example: Say, you picked up a $60 profit from a week of trading. To withdraw all of that money, you would need to have already traded at least 20 lots.
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Prominent welcome bonuses worth
It is quite obvious that us traders really need the number of our welcome bonuses to be as prominent as they can be. Out of the three agents that I have mentioned above, FBS utilizes an offer of the most prominent obtainable welcome bonus number that is exactly $123, while FXTM and XM have deals that are relatively in the same range that is about $30.
- Dependable forex agents
There is no doubt, your agent should be really dependable and must have no shady side as all. After trading with quite a bunch of different brokers, I see XM as the single best broker out of all three of them when it comes to reliability and/or transparency.
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Different types of welcome bonuses
Aside from welcome bonus, most forex agents can also offer you a wide range of bonus plans like Deposit reward or Lot back reward (Loyalty bonus). More particularly:
Deposit Bonus is the reward plan which is constructed altogether in light of your deposition amount, which is the reason you can have more cash from this reward essentially just by putting in more money.
Lot back bonus, also known as the Loyalty reward, is a reward plan which almost all of the experienced traders prefer to utilize as it naturally refunds a part of your money in every transaction from your account.
For instance: XM has a spread for the EUR/USD currency as 1.4 pip and the rebate amount is $3 for each trading lot that is completed. This implies that you just have to pay $11 for each EUR/USD lot rather than the entirety of the original 14$.
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Is it possible for you to truly pull back forex extra benefits?
Just like I have stated before, to pull back forex extra benefits, most merchants have certain withdrawal strategies in regards to this issue. As of this moment, there are two generally known withdrawal conditions that most of them use:
- Finished trading lot demands
I have already given a precedent and clarifications in regards to this prerequisite above. In a nutshell, nearly all dealers expect you to have finished no less than a specific number of exchanges before you can pull back your bonus. here’s additionally a drawback to this arrangement which is that more often than not, the brokers would need to store significantly more cash than the reward itself so that they can meet the exchanging lot demand.
- No immediate withdrawal of your reward
Most handles that I have worked with confine their traders from straightforwardly pulling back the rewards like the welcome reward or deposition reward. This is because that in the event that they hadn’t done as such, huge amounts of con artist and exploiters would’ve exploited the circumstance and made a benefit for themselves.
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How should we pick our brokers? Should we choose those with a good bonus or low spread?
In the beginning, brokers that have the best forex welcome bonuses plans are considered to be superior to the brokers with low spreads. Nevertheless, we as traders also have to consider our long-term plan. Agents that have low spread or superior conditions for trading, in general, are always superior when taking the long haul into consideration because basically, you will always be exchanging in the best trading conditions available for you once you pick those dealers. For me personally, I take into account a dealer’s reliability and I see it as more important than anything else as I usually deal with large numbers of cash.
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THE 4 BEST FOREX WELCOME BONUSES.
I did my own analysis to know for sure which of these best dealers utilizes the superior bonus plans. Up until now, I have managed to narrow down to a list with 4 dealers that have the best forex welcome bonuses plans when compared to the rest. Here are them:
- Best forex welcome bonuses – XM: 30$ welcome bonus
- Best forex welcome bonuses – FBS: 50$ welcome bonus
- Best installment reward – XM: 100% installment reward
- Lot Back Rewards- Exness: Rebate 2 – 16$ each lot
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How do you exploit forex reward programs?
We all know that it is not moral to utilize cheating methods of any kind. Nevertheless, in case you ever have the needs for them, I present the two currently most known cheating methods, they both entail the act of generating a large number of accounts so that you can cheat the welcome rewards:
- Hedge two brand new accounts. This refers to you making one of your accounts wins and the other loses so that they can keep a win rate of 50%. You can only apply this procedure on the brokers that have vague policies about bonus withdrawal.
- This one is mostly the same as the first procedure. However, in this one, you need to additionally exploit the high leverages the brokers offer to make really giant positions. Thus, it is obvious you will need a dealer that has high leverage for this procedure.
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