Bonuses from trading forex sound very interesting for most of the traders; however bonus forex 2019 can still cause some disadvantages and make it hard for traders to withdraw. Actually, bonuses are a way to reduce trading cost and help to lower the margin for traders when trading if traders know how to use and manage the bonus. Even, there are some popular ways to use to trick brokers to get some more bonuses. And here from my experience and many researches, I will share with you about how to make it clear about bonus and take advantages of it.
Bonus forms
Base on traders’ timing trading, their deposit account and their lots traded, there are 3 popular kinds of bonuses that traders need to know
Welcome bonuses
Like its name, welcome bonuses are the kind of reward for traders’ first time trading. Usually, the starters will get 30-50 dollars for the first account, and this amount is like something for traders to believe and keep trading with them. Starters or the general traders can use these brokers to check this brokers’ trading platform and also, to figure out if they are going on the right plan for trading or not. But, there is the fact that this kind of bonuses is took advantages by some cheater that trick traders to make profit from bonuses.
Lot back bonuses
That is the most liked kind of bonuses because thanking to this bonus traders can lower their fee when transacting. It is because of that with each lot finished, brokers will have the bonus for traders by reducing spread rate. And this reduction is based on the currency pairs traded. Considering the case of XM to make it clear. Traders from XM with each time they finish one lot with the pair of EUR/USD XM will subtract 0.3 pip for spread, which means that traders just have to pay 1.1 pip for the spread.
Deposit bonuses
It has the word ‘deposit’ because this bonus is related to the deposit. Brokers will value your account with the deposit made then from that they can offer the percentage that you can have for the bonus and the common amount is 20%, 50% and 100% based on your deposit. With this bonus, brokers are trying to get their clients invest more into the account and make traders feel wanting to open an account.
Bonuses themselves have downsides
Welcome bonuses may be free for traders, but it is not actually free when they want to gain backing from traders something even bigger because the best forex brokers BRKV offering welcome bonuses just start their business and they are even less reliable and want to trick traders by the bonus. Moreover, the amount of 50$ bonus is quite small that traders hardly benefit from it. Or, they have enough benefit to be called ‘big bonus’ but the withdrawal is troublesome because brokers will not let you take it easily.
About deposit bonuses, traders with deposit bonuses are tricky too as they do not brokers winning the bonuses withdraw them smoothly but they cause some difficulties sometimes, traders can withdraw profit from bonuses when they win but somehow brokers can make it gone away
Lot Back bonuses have their own disadvantages as well. The obvious point is that trader can only make much profit from bonuses when they trader plenty of lots
Are bonuses the most importance when we choose the brokers?
It is true that bonuses partly help lower trading fee but it is not the most significant factor when trading. With my experience, I think the reputation or the credibility of brokers is more crucial to consider. However, traders can still benefit from bonuses while trading with the best reliable brokers by these steps as I have summarized from my learning:
First, you find out what are the top five best reliable brokers in the market then you study about if they are offering tempting bonuses with every kinds and from that, trade with the best reliable with interesting bonuses.
Here I note down for you top most reputable brokers:
– For welcome bonuses, there are XM and FBS that provide 30 $ and 50 $ respectively for welcome bonuses.
– And XM also offers 100% deposit bonuses for traders
– EXNESS reviews: the best broker offering the best Lot Back bonuses with 2-16 $ for each lot traded.
What are the conditions to withdraw bonuses?
It is true that bonuses can be drawn but with some requirements from brokers that need to be met. With brokers that allow traders to withdraw the bonuses, they usually ask traders to complete a number of lots before taking the bonuses. That means if you win a bonus for one lot they require you to finish nine more lots to be able to take whole bonus. With this case, it is hard for traders to get the bonuses because the cost to finish this number of lots can even get traders pay bigger amount than the bonuses. Also, there are brokers that do not let you draw the bonuses but they can offer another solution that they let you take the profit from the bonuses.
2 techniques to win more bonuses
First, with the brokers offering welcome bonuses, they can open more and more accounts to win a lot of welcome bonuses. And to withdraw the amount of bonus they take one lost account and one gaining account together to make the chance to win the profit up to 50%. Because they win the profit then they can withdraw their bonuses easily.
Second, cheaters can take advantages from brokers offer high leverage to make even larger deposit and take bonuses from that big deposit and they also need an account with 50 % of winning from lost and gaining accounts to be able to draw.
