THE THINGS YOU NEED TO KNOW BEST FOREX BONUSES OF 2018
BRKV - Most traders only care about brokers’ credibility, spread, swap and payment systems making nothing of their rebates or bonuses. In my opinion, rebates and bonus are also relevant to cost. Therefore, this is important factors which we need to wonder. There are lots of new forex traders asking me about how to choose a broker that offer the best forex bonuses and how to use bonuses ? To answer these questions in details today I write this article. I will cover all of the aspects relating to forex bonuses. The hope that the article brings some useful information in your business path.
In fact, I find that some traders don't like forex bonuses because they know there will be many disadvantages when using bonus. However, the majority of traders are fond of forex bonuses, because they can decrease their trading cost and minimize trading margins. From that demand, some brokers even can hack their bonus programs and withdraw profit. So how to hack these bonuses? In this article, I will also share some tips to carry out hacking them.
1. Types of forex bonuses
Basically, there are 3 types of forex bonuses: Welcome bonuses, Deposit bonuses, and Lot Back bonuses.
Welcome bonuses (or non-deposit bonuses): These are the bonuses used for new traders. Brokers offer welcome bonuses with the hope of attracting beginners and bonus cheaters. Generally, brokers can offer from 30 – 50 dollars welcome bonus for first time register. For beginners, their main purpose takes part in this bonus to test the broker’s trading conditions and also to try out their trading strategies. For bonus cheaters, they create as many accounts as possible to earn the profit.
Deposit bonuses: you will get money from these bonuses when based on percentages of deposit amount. For example: 20%, 50%, 100% of the total deposit. Brokers offer this types of forex bonuses to encourage traders to deposit more or reactivate their accounts if they’ve stopped trading for a long time. Some brokers offer this bonus to first time deposit as well. If you make a decision long term trading, deposit bonuses is good for you.
Lot back bonuses: many traders join these bonuses with the aim to minimizing transaction cost. When you finish 1 lot/transaction, brokers will rebate an amount of money to your account automatically. The rebate amount will rely on your trading currencies, account types, and trading time. This is the most popular bonus program because professional traders are fond of this. I give you an example: FM’s spread for EAR/USD is 1.4 pip, and they will lot back $3 for each completed trading lot. It means you only pay $11 for each EAR/USD lot instead of $14 of the original spread.
2. Drawbacks of each bonus type
3. How to cheat forex bonuses
There are the two popular methods to cheat but notices that they only apply for welcome bonuses.
In first way, only carrying out 2 steps you can cheat bonuses.
Step 1: The traders need to create many new accounts to get welcome bonuses.
Step 2: You hedge 2 accounts together. It means 1 account win and 1 account loss. So, they get 50% win chance.
Noted: Don’t forget you only can withdraw bonus profit without any conditions.
In second way, you do as follow:
Step 1: The cheaters also open many new accounts to get welcome bonuses.
Step 2: You use the high leverage to open very big positions.
Step 3: Similar to the first way you also need to hedge them with other accounts to make sure the win rate is 50%.
Personally, the above 2 methods are really simple, you can do whenever you want.
4. How to select a good bonus?
As I mention in some articles before, the first condition to choose a broker is their reliability. Besides, another element of no less important is broker’s bonus.With many experienced years in trading I draw procedure related to pick out a good bonus. Follow me, please!
Firstly, you list down 5 best brokers which are suitable for you. YOU CAN SEE HERE.
Here are top 4 good forex bonuses:
5. Which conditions can you withdraw forex bonus profit?
There are 2 main withdrawal conditions. The first condition is that you completed a certain number of trading lots. For instance: To withdraw $50 bonus, you have to complete at least 10 lots. When you register or deposit in 1 lot, they will deposit bonuses to your account instantly and let you trade. If you win, you only can withdraw that bonus when you have completed up to 10 lots. The second conditions is that you can still withdraw the profit in spite of the fact that some brokers don't allow to withdraw bonus.
Remember! Everything become easier if brokers let you withdraw bonus profit unconditionally. For me, Exness is the top choice for forex bonuses.
Read more : THE PERFECT FOREX BROKERS FOR BEGINNERSHey 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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