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Forex News are updated by Thomas Johnson - a trader from USA

21.09.2018.

ALL THE BEST FOREX WELCOME BONUSES

BRKV - Any new trader in the xafs would always struggle to search for suitable forex welcome bonus programs offered by the best brokers. Therefore, the aim of this article is to help you find out about all the nook and cranny of forex bonus types in this undoubtedly complicating xafs. Overall, this writing will cover these main topics:

  1. All welcome bonuses

  2. Standards of good forex welcome bonuses

  3. Types of forex bonuses.

  4. Is it possible to withdraw forex bonuses?

  5. Good bonuses vs low spread.

  6. Top 4 forex bonuses.

  7. Forex bonus cheating.

Despite the attractive deals, welcome bonus are not everyone’s cup of tea since they acknowledge that many disadvantages usually come along with bonuses. Nevertheless, a majority of traders still like forex bonus since it enables them to reduce their trading costs and minimize their trading margins. Some can even hack into their bonus programs to withdraw profits. This article will also provide some exclusive hacking techniques for you, so stay tuned until the end.

  1. WELCOME BONUSES

Welcome bonus is one of the most popular bonuses since this bonus type is very beneficial for new traders in general. Here is the list of reliable brokers that offer welcome bonuses:

XM => Get bonus.

FBS => Get bonus.

FXTM => Get bonus.

Note that XM is a more reliable broker. Besides welcome bonus, they also offer deposit bonus at a 100% rate

  1. STANDARDS OF GOOD FOREX WELCOME BONUSES

Easy withdrawal conditions

Theoretically, it is impossible for traders to withdraw their bonuses. They can only withdraw profits that they won from bonus trades. Yet in reality, some brokers allow their clients to withdraw profits with one condition: Traders have to complete the minimum number of lot trades. I will list out a few trading conditions offered by the best forex brokers for you to compare:

  • XM withdrawal condition is relatively easy, since traders only need to complete 0.1 Lot to withdraw all profit.

  • FXTM has a reasonable withdrawal condition, as traders have to complete 1 lot to withdraw profit.

  • FBS has a total of 123 bonus programs. Traders can receive up to 123$ welcome bonus. For each trading lot, a trader can withdraw 3$ profit.

For example: After 7 days trading, you will win 60$. In order to withdraw that 60$, you have to trade at least 20 lot.

FIND OUT MORE ABOUT FXTM HERE.

High welcome bonus value

Welcome bonus is very beneficial since beginners can use this amount of money to test their trading methods and observe the operating system of their brokers. Here is the list of brokers that offer high welcome bonus value:

  • FBS offers the highest welcome bonus Value: 123$.

  • XM and FXTM offer the same welcome bonuses value: 30$

Reliable forex brokers

Take note that besides the amount of bonus, you must also take into account the reliability of the broker offering bonus programs. Among FBS, XM and FXTM, XM is in fact the most reliable forex brokers and they are also the most suitable forex broker for beginners.

LEARN MORE ABOUT XM HERE.

ALL THE BEST FOREX WELCOME BONUSES

  1. TYPES OF FOREX BONUSES

Basically, there are 3 types of forex bonuses: Welcome bonuses, Deposit bonuses, and Lot Back bonuses.

Welcome bonus (or non-deposit bonuses) is offered to new registrations. To attract more registrations from new traders or even competitors’ clients, brokers usually offer from 30 – 50 dollars welcome bonus for first-time registers. This type of bonus can attract a lot of beginners or bonus cheaters. Beginners tend to use this bonus amount to test the broker’s trading conditions and observe the efficiency of their trading strategies. Meanwhile cheaters would create as many accounts as possible to get these free bonus, then trade and withdraw the profit.

Deposit bonus is offered to new deposits. These bonuses are calculated based on percentages of trader’s deposit amount (for example: 20%, 50%, or 100% of the total deposit). Brokers purposely offer these bonuses to encourage traders to deposit more or even reactivate their accounts in case they have stopped trading. Some brokers offer this bonus to first-time deposit as well.

Lot back bonus are a part for the loyalty program. After finishing 1 lot/transaction, an amount of money will be automatically rebated to your account. The rebate amount depends on your trading currencies, account types, and trading time. Professional traders are fond of this bonus type since it enables them to minimize their transaction cost.

For example: XM’s spread for EUR/USD is 1.4 pip, and they will lot back $3 for each completed trading lot. In other words, you only have to pay $11 for each EUR/USD lot instead of $14 as the original spread.

  1. IS IT POSSIBLE TO WITHDRAW FOREX BONUSES?

To answer the question, we must take into account the bonus withdrawal conditions. Basically, there are two main withdrawal conditions:

  • 1st condition: Traders can withdraw bonuses after completing a certain number of trading lots.

For example: After depositing or registering 1 lot for the first time, you will be able to receive an amount of $50 bonus and you can start trading after that. However, you have to complete trading 10 lots in total to withdraw that bonus.

  • 2nd condition: Traders can withdraw the profit instead of bonus.

Certainly, it would be much easier if brokers allow traders to withdraw bonus profit without any conditions demanded. As long as brokers require a certain number of lots to be completed, it is very difficult to withdraw. In fact, you even have to pay more than the bonus value to complete those required lots.

  1. GOOD BONUSES VS LOW SPREAD

Despite acknowledging the benefits of forex bonuses, I would not regard it as the most important condition to choose a broker. Beginners should always keep in mind that the priority condition when it comes to choosing a broker is their credibility.

LEARN MORE ABOUT THE MOST RELIABLE BROKERS HERE.

This is my procedure to choose a good bonus:

  1. List down 5 reliable brokers which are suitable for you.

  2. Choose the broker that have the best bonus program. Since these brokers are already reliable, it is a plus point for them to have attractive bonus programs.

  3. Trade and get bonuses.

FIND OUT MORE ABOUT THE LIST OF BEST BROKERS HERE.

  1. TOP 4 FOREX BONUSES

Base on procedure above, I will list down the 4 best forex bonuses:

  • Best welcome bonus: 30$ welcome bonus of XM >> Check detail here.

  • Best welcome bonus: 50$ welcome bonus of FBS >> Check detail here.

  • Best deposit bonus: 100% deposit bonus of XM >> Check detail here.

  • Lot Back Bonuses: Rebate 2 - 16$ per lot of Exness >> Check detail here.

  1. FOREX BONUS CHEATING

To be frank, you can only cheat welcome bonuses and here are the two most popular methods:

  1. In the first method, traders need to create many new accounts to get welcome bonuses. After that, they need to hedge 2 accounts together, which means 1 win account and 1 loss account. By doing this, they get 50% win chance. This cheating method can only be applied to brokers who allow you to withdraw bonus profit without conditions.

  2. In this method, cheaters also need to open many new accounts to get welcome bonuses. After that, they can use the high leverage to open very big positions and hedge them with other accounts to make sure the win rate is 50%. High leverage brokers would be suitable for this type of cheating.

LEARN MORE ABOUT LEVERAGE RATE HERE.

Read more : CRITERIA FOR CHOOSING THE MOST RELIABLE BROKERS FOR ASIANS

Hey there, this is Fanara Filippo. I'm the author of this article and I'm currently collaborating with Brokerreview.net, or BRKV in short. My articles are mainly for forex traders from Thailand, Indonesia, India, Bangladesh, and South Africa.
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