Types Of Forex Bonuses
There are many types of Forex Bonus which are being offered by Brokers. Forex Bonus Broker helps you to find the best bonus for every individual wish. We are listing the Top Brokers who are offering the top bonuses!
If you are not familiar with the different types of Forex Bonus we have arranged the most popular bonuses here to help you understand the available Forex Bonus Offers so you can select the best for you.
No Deposit Forex Bonus
The No Deposit Forex Bonus is a free Bonus which is offered by many Forex Brokers to attract new traders to open an account with them. It means that you can get free funds which you can use to trade with just by opening a new trading account. The amount of this bonus varies amongst Forex Brokers but it is generally in the range of $10 to $100.
In order to qualify for the Forex trading bonus certain conditions must be met before you have the possibility to withdraw any funds. Usually there is a certain volume of trading which you must meet and some brokers also ask you to make an initial deposit before you can withdraw any profits.
Margin Bonus or Rescue Bonus on deposits
A margin bonus allows you to use the Forex Brokers funds as Trading Equity. If you lose the equity a percentage of the amount which is lost is deducted from your bonus. E.g. if you deposit $1000 and take a 30% Rescue Bonus (Margin Bonus) your new equity will be $1300.
Now if you lose $300 on trades your 30% will be deducted from the bonus which (in that case) would be $90. So your total loss will be $300 – $90 = $210. So you will have your initial deposit of $1000 minus $210 and now $790 will be on your account.
Without the Rescue Bonus you would have lost all $300 but with the special Margin Bonus you saved yourself $90 in losses which definitely can help you a lot.
Volume Bonus
If you are a trader who is trading high volumes then a Volume Bonus may be the best for you. A Volume Bonus allows you to receive up to 100% of your deposit to be available for withdraw after you will meet the set volume. In order to get the maximum benefit from this bonus you need to meet the volume and then make your withdraw.
This type of bonus is better suited for long term traders. If you withdraw money before you complete the volume a percentage of the bonus will be removed upon withdrawing the funds.
Forex Welcome Bonus Promotions
Forex Welcome bonus Promotions are often offered to first time traders. Forex Brokers use this promotion to get new clients to open a trading account with them. Often newer brokers will offer very large welcome bonuses because they want to build up a large client base though lately some established brokers have been also offering welcome bonuses.
The main points you should have in mind about most forex Welcome Bonus promotions:
- This is a onetime Bonus which is offered to traders when they sign up for a live account and you can not get it more than once or upon subsequent deposits.
- The Welcome Bonus is not available for withdraw but is used for trading capital.
- There are terms and conditions that usually apply in order for you to be eligible for this Bonus e.g. you have to make a certain amount of deposits or you have to trade a certain number of lots.
- If you do not meet the requirements you may score an own goal on your withdraw so every time it is important to read the terms and conditions carefully in order to avoid own goals.
Welcome bonuses are often some of the best bonuses which are offered by Forex Brokers but at first you should check out how reliable the broker is. Forex Bonus Broker will help you because we only list the best brokers with the best promotions.
Forex reload bonus
A Forex reload bonus (or Re-Deposit Bonus) is very similar to a welcome Bonus: It is a onetime bonus which is offered to traders but the Brokers offer this bonus on your second deposit or when you reload your trading account with money.
Rebates Bonus or Cash Back Bonus
A rebate also known as a Cash Back provides cash rebates on each “lot” you trade but using your own trading capital. Different Forex brokers offer different rebate rates so you might have to check several brokers to get the maximum rebate available. Most brokers provide a cash rebate of $2 to $3 per lot but some can go as high as $10 per lot.
Important points when you select a Rebate Bonus
- At first you should check whether the Rebates are cash rebates or credit rebates
- You should determine the maximum amounts of rebates offered by the brokers
- You should check if the brokers are increasing the spreads when they offer the rebate
- If the rebate is a credit rebate are they Margin credits (like Margin bonus) that can be used as equity or not
Cash rebates can be withdrawn at any time. If the Brokers are providing credit rebates (such as $10 per lot) then you can use it to increase your trading capital. Credits have conditions like Volume Bonus but the advantage is that you can use this credits as margins with most Forex brokers.
How to Select a Good Forex Broker Bonus
The first thing you have to decide what type of bonus is the right one for you. If you are new to Forex trading you would probably look for a No Deposit Bonus to start trading risk free. If you have more experience in trading you would be well advised with a Deposit Bonus.
Advantages and Disadvantages of a Forex Trading Bonus
Advantages of a Forex Bonus
- Forex bonuses increase your trading equity and giving you greater control over your account
- You are able to trade with higher leverage
- Margin Bonuses allow you to trade with the broker’s funds and also can be used at times of margin call
- Rebates help you to increase profits
- No deposit bonuses are friendly for beginners and gives newbie traders a chance to test the experience of real Forex trading
Disadvantages of a Forex Bonus
- Apart from margin other bonuses can not be used as margins. If the equity goes below your deposited funds then bonus will be removed automatically by the Forex brokers
- No deposit Forex bonuses have very high volume requirements by some brokers which are really hard to meet
- Sometimes the requirements of bonuses are not clear and you may end up losing equity. So every time it is important to read the terms and conditions of all bonuses
What other offers you can find
1 – Forex Contests
Forex Contests
These types of contests are very attractive to new traders because you do not have to risk any money and you can gain experience in Forex Trading. You can win many different types of prizes in Forex Demo Contests and many Forex Brokers are offering cash prizes. These prizes can be put on a live account or withdrawn but the rules and regulations vary from broker to broker.
With Forex Live trading contests you are earning regular profits and you can compete against other Forex traders. The prizes in live trading contests are generally much higher than in Forex Demo Contests. This type of contest is recommended for experienced traders.
2 - Webinars and Seminars
If you are new to Forex trading you will find webinars specifically geared toward new traders to build up an understanding of what Forex trading is and how it works. Webinars and Seminars provide you with key advice and tips to successfully trade Forex. There are also webinars and seminars geared toward seasoned traders with advanced strategies and tips to help traders get the most out of their capital.
3 - Forex Draw Bonus
Some Forex Brokers are offering free drawings which allow traders to win great cash prizes and often available for immediate withdraw! Please have in mind that many of these draw bonuses have restrictions and requirements so be sure whether you meet those requirements to take advantage of these drawings.
4 - Forex Forecast Bonus
Some brokers are offering contests which ask traders to make predictions or forecasts about prices or other values of Forex trades. There exist many different types of Forecast contests and many different rules and requirements but once you understand the rules this can be a good contest because it is usually free to enter and the prize money can be pretty substantial in some cases. All you have to do to win is making the most accurate prediction.
5 – Forex Rewards
In addition to great bonuses and contests many brokers are offering also rewards to traders who fulfill certain requirements or complete certain actions. The type of rewards and the requirements vary from broker to broker. Some brokers offer cash rewards or gift cards to traders for just signing up with them and becoming a live trader while others offer reward points that can be earned by trading watching videos and taking other actions. These points can then be turned in for prizes and often cash bonuses.
6 – Forex Refer a Friend Bonus
There are quite a few brokers who are offering a bonus when you refer a friend to open a live account and make a deposit. This is an easy way to get some extra trading capital especially if the broker is a great Broker so you will be doing your friend a favor and yourself, too.
We list some of the best refer a friend type bonuses on Forex Bonus Broker with reputable brokers that you will be glad to share with your friend to make some extra money.
7 – Gifts and Freebies from Brokers
Many Forex Brokers will offer gifts to their traders which may come in the form of additional trading capital cash (or gift cards) and more material gifts. Most brokers also offer freebies to traders which may come in the form of web tutorials, e-books, expert analysis, free webinars and other “gifts” to help you become a better trader.
Brokers have a vested interest that you make profits because it only helps their brokerage when their traders feel well so they are willing to do or give what it takes to help you becoming a good trader.
What should I check when I choose a bonus?
Before you sign up for a Bonus you should be sure that the broker is a legitimate broker with a history of satisfied traders. It is important that you take every precaution to avoid scams when choosing a Forex Broker Bonus.
Avoiding Scams
You should ALWAYS read the terms and conditions for any type of Bonus which are offered.
Sometimes the requirements for the Bonus are incredible so you should always read the terms carefully before signing up for any type of bonuses.
Why it is important to read the Terms and Conditions
Even legitimate Brokers can have terms and conditions to their bonuses that makes it nearly impossible to withdraw that Bonus e.g. making the required lots extremely high. You should read the fine print carefully to be sure you can actually meet the requirements to achieve the Bonus.
Let Forex Bonus Broker help you to find the perfect Forex bonus
Forex Bonus Broker is offering the best Forex Bonuses and freebies to help you finding the best possible Forex brokers available. While there are other websites which are listing a mass of confusing bonuses and promotions it would be important to say that most of these websites do not take the time to provide you with reliable Forex Brokers which offer good bonuses.
