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The Forex trading industry has many advantages and extras to offer clients. And if you ask a trader what is the best thing about this specialization for making extra cash or for a living, it is highly possible to get an answer that is linked to bonuses. Trading account bonuses, indeed, seem to be those special offers and privileges that a trader of the market receives just for the fact he has registered on a website or reached a certain advanced level. With a promotion, you are actually provided with additional money or approaches to increase your real balance and trading equity.
But are the Forex bonuses really all there cracked up to be? …and is there anything tricky about them?
Attractive, Rewarding and Profitable, Forex Bonuses Are Gifts You Should Consider Wisely!
Whatever a bonus is, it is always a fantastic opportunity to make more money. Depending on its nature, a Forex bonus can either give you a fixed value to make trades with – just like that in a form of a gift – or a privilege that saves you money. Imagine you are pressed by a small budget, but you want to trade more often. The deposit you make is not enough, but if you have a reload bonus, the broker will increase the new invested amount with a certain % share. Thus, your trading experience becomes more promising, while your trading results – more valuable. This is not all as to the great part about the Forex bonuses. It can also make your activity funner and more engaging. When a customer sees a promotion, sale or special offer, he never misses the deal, right? He wants to get something for free or for less and bonuses do provide such a possibility! So never miss the bonus system element when you are a reading a Forex broker review. Inform yourself what you could gain by the fact of signing up to a certain broker and see if another can actually give you more! It`s all about the calculations and it`s always about the better deal!
Forex Bonuses Can Be Catchy Tricks Brokers Use to Get You as a Client
Special promotions are used on different trading platforms and many sound like their generous gifts and many traders alike take the benefits of these complimentary funds by a particular broker. However, it is essential for you always to read the terms and conditions before applying for a certain special promotion. These rules might tell you everything you need to know – how a bonus works and what eventually can be catchy about it. In many cases, the reward of a bonus might have conditions you should consider before sending over a deposit. It many circumstances, it is very possible for you to appear in a worse situation if you don’t read the fine print. Though on the other hand, Forex bonuses are always so screaming due to the fact that their main purpose is to attract you – as a newcomer – or to enhance you – as a loyal one. Brokers often increase the number and change up the promotion of bonus offers in order to increase deposits. Every bonus offer tries to provide something unique and it often an easy sales tactic brokers use to reel you in from their competition.
Different Types of Forex Brokers You can Be Mistaken By!
Before naming the reasons why you should not accept the bonuses as free of charge gift and what to be cautious about, let`s name the different types of special promotions a broker can offer and get you mistaken by:
- Initial / Primary Deposit Bonus
As the name says it finely, this type of a bonus is offered only for the newcomers on a certain brokerage website. The initial deposit bonus depends on the first investment amount of money you make and the more you deposit, the bigger your reward is.
- No Deposit Bonus
This bonus offers you a reward for the fact that you have registered in a certain trading platform. It does not come with the condition to make any initial deposits for you, but it provides you the “gift” immediately.
- Ordinary / Reload Deposit Bonus
It is measured in % and it means that the larger your afterwards deposit investment is, the more you will get as a bonus.
- Refer a friend bonus
This is a bonus program that allows you to make money from inviting your friends to the brokerage website.
These are not all of the existing Forex bonuses. However, they are the most common ones.
Don’t Estimate the Forex Broker By Its Bonus System?
“What`s the best Forex broker?” is a question that both – beginners and advanced traders ask us all the time. There is no certain answer, but we can say one thing for sure – the best trading website is definitely not the one with the best bonus system. Actually, a bad broker – a scam or a website with very poor trading platform – does balance its unpopularity with attractive bonuses as a catchy sales tactic, especially to the retail crowd and non financial literate who are looking to play the markets. Usually, this means that such a broker does not have great facilities such as variety of accounts to open, numerous trading instruments or even learning centre or even a physical office with a staff, but at the expense of these, it simply offers you $50 no deposit bonus or smashing 200% initial deposit or reload bonus. The question here is what do you really prefer more – a proper, regulated and reliable navigated trading offering or a stupid reward that sometimes is not even beneficial in the long run?
Why You Shouldn’t Take a Forex Bonus On Mandatory?
No matter how catchy and attractive a bonus is, you should never rush for it as it could be the last chance you have to get more money from a particular brokerage. Sometimes, there are even cases where Forex bonuses can even worsen your situation as mentioned earlier. How does this happen? Usually, such brokers name you fantastic special promotion like 100% deposit or reload bonus, up to $200 no deposit bonus and etc. in order to make you deposit with them without even considering the details. But these details can actually put you in a trap. When you will ask for making a withdrawal, the fact that you have got your bonus, will delay or limit your inquiry until some impossible terms are met. Although, some deals work in your favor as well as the brokers to try to enhance your volume and are legitimate so make sure to clarify these terms with the brokerage before accepting. So can you risk your gained paper profits in the name of a single bonus, especially when that means you can not even payout such “gains”?
Be Cautious With Binary Options Bonuses, Too!
Binary options – even though a different field of trading experience – also have their own special promotions similar to ones mentioned above. And despite the bonuses being different, they have their own generous and risky sides as well. A binary option broker can be fantastic with its own facilities and services without even offering a bonus. Of course, if such a broker provides periodical or constant special promotions in addition, this can be an attractive home for many traders in this field. You always have to consider binary options account bonus offers – but it is not the only things that matters in a brokerage.
As a conclusion, we would like to warn you not to accept everything at face value in trading promotions without checking the small print and asking tough questions. Some Forex bonuses are really amazing and they can double or even triple your trading results with a needed capital boost. However, others are just projections, smoke and mirrors, and can signal the presence of a Forex brokerage scam. That is why it is so strongly recommended to consider the reliability and safety features in a trading platform. If it is really trustworthy or it is owned by a well-known and properly regulated company, there is usually nothing to worry about concerning bonuses. Though, in the case you are on a very rare and not so famous broker site, better to not get misled by it’s super generous bonus system. The to-good-to-be-true offer probably is specially tailored to blur your prospects and ultimately lock up your money.
This article has been created by the teams of BestForexBonus.net and BestBinaryOptionsBonuses.com, dedicated to providing information about the best and most suitable offers from brokers in the trading world.