Things to Consider for Forex Welcome Bonus Brokers
Forex welcome bonus is a certain way to appreciate a trader for opening the forex account. Not all the brokers offer welcome bonuses, as they may enforce restriction location wise. Therefore, only the forex welcome bonus brokers offer the bonuses for the traders.
The welcome bonuses always aim to attract the new potential clients. On the other hand, novice traders also look for something where they can earn some quick money while investing a minimum amount. So, traders regardless of their experience remain look for best forex broker which offers a welcome bonus.
Here we will discuss ins and out of the forex welcome bonus brokers and at the end of the article you will definitely gain knowledge on welcome bonus.
What is Forex Welcome Bonus?
Forex welcome bonus is simply adding an extra money in the trader's account by the broker upon the minimum deposit. A trader becomes eligible to receive a forex free bonus if the trader deposits a certain amount.
However, the initial deposit amount depends on the brokers policy. Some brokers may not allow a huge amount of initial deposit as they cannot pay the bonus on a big amount. Bredies, providing all the bonuses to one trader should not be fair. That’s why brokers limit the bonus up to a certain deposit.
How does the Welcome Bonus Work?
The working procedure of the forex trading welcome bonus is very simple. You may see the following step to understand the working procedure easily.
- In the very beginning, you will need to register via forex brokers offering welcome bonus.
- Then confirm your email to verify the account. Although this is a common step, some brokers may omit this step.
- Next, deposit some money. You may see the respective broker’s instruction while making the deposit.
- After the successful deposit, collect the latest forex bonus allotted for you. You may get the bonus right away, while others may take a few hours to send the bonus.
You will need to make some transactions before you become eligible to withdraw the bonuses. Again, it depends on the broker and make sure you read the brokers conditions as well as rules.
That is how the best forex brokers welcome bonus offering works. So, you should be able to understand the forex bonus’ working procedure.
Advantages of Forex Welcome Bonus
Forex welcome bonus will not change your trading skill, but it will surely provide you some talks after iftar. Let’s dive deep into the benefits.
The huge trading capital
You get the opportunity to get a huge capital in your account by investing less. Being said that, suppose you just opened the account with the forex welcome bonus brokers and deposit $2,000 at 35% bonus. So, in return you will get $700 extra in your account. Therefore, the total amount would be $2,700, which really is a big capital compared to your initial deposit of $2,000.
Later you can trade this bonus amount and there will be no risk at all, as you are trading with the bonus money. Besides, there is nothing to lose for you.
So, if you increase the initial deposit you may warn more forex trading welcome bonus. However, most brokers don’t allow the users to get unlimited bonuses. Usually, the brokers allow up to $5,000 bonus for an account. So, checking out the terms and conditions is necessary.
Increase the leverage
When you have a huge amount of capital in your account, you can take a better position while trading. Hence, it increases the possibilities to earn huge profit. As your equity includes the bonus amounts too, you can get a greater advantage from the extra money. Besides, the bonus amount decreases the risk greatly or puts no risk at all.
Decrease the initial investment
Best forex brokers welcome bonus gives you the extra trading capital which leads you to take different sized positions. Hence. It can increase your profitability and at the same time decrease the initial investment.
For example, the minimum deposit for a broker is $100 and it offers a 30% bonus. So, you will get $130 total. Now, you make the investment of $1,000 and you will get $1,300. The extra $300 can be used to open more positions.
Get the prospect to test a platform
Forex trading platforms may vary from one forex broker to another. Therefore, you need to check the broker before investing a huge capital. In that case forex welcome bonus comes handy, as you don’t need to use your own money to check the broker. You can use the forex free bonus to check out a broker.
Helps to verify customer service
A good customer care is highly crucial for forex trading as you may face difficulties any time and a prompt service will help you to solve the problem. However, you cannot check the customer service unless you face a problem.
So, trading with the forex trading welcome bonus gives you the opportunity to check the broker if you face any problem during the trading.
Criteria to select Forex welcome bonus brokers
You may find hundreds of brokers that offer forex trading welcome bonus, which is good enough to confuse you. So, there are a few things you may consider before choosing a broker that offers a welcome bonus.
Comply with your trading goal
As a trader you should have some trading goals. So, while choosing the forex free bonus, you should match it with your trading goal. Although it is not critical, compliance with the goals will not hurt you.
Check the limitations
Getting a bonus doesn’t mean that you can use it anywhere. Sometimes brokers impose some restriction on using the bonus amount. Hence, you should get clear about the limitations.
Understand the terms and conditions
Before believing a broker blindly, try to understand the broker’s rules and standards. It is because sometimes brokers offer hidden conditions, which eventually hinder the trading. Understanding the rules, conditions, terms in advance will surely assistance you to make the necessary decisions on your potential trading and other stuff.
Apart from these, you may also check our forex broker reviews to select the right forex brokers offering welcome bonus.
Forex Welcome bonus are applicable for the newly signed up traders only. So, if you are changing your broker or a new trader you should take the benefits of forex welcome bonus brokers.
How do you receive the assistances of a different bonus? If you thoroughly read this piece of article carefully you should be able to know by now. Hopefully this guideline releveled all the aspects of welcome bonus which is also named as deposit bonus.