Last updated on February 3rd, 2022 at 05:00 pm
Forex trading is a most actively traded financial market in which there are opportunities for everyone to earn money. An authentic platform is needed to access any financial market. The best way is to work with a reliable forex broker. Many brokers provide additional benefits such as forex bonus to attract the attention of clients.
Forex bonus is a reward or incentive that is a way of introducing investors to the special services given by the brokers, to attract new clients, to encourage new deposits from clients. Traders can get access to bonus immediately after opening an account and can start trade. Sometimes traders have to meet the tough conditions to get the bonus.
Why is this bonus awarded?
- To get registered and verified on the website of broker
- To make initial deposit
- Deposit of a fixed amount
- High performance of trading
Types of Forex Bonuses
All new customers can get benefit from these different types. However, not every bonus is for every customer, and they can choose what suits best for them.
- Forex deposit bonus
This bonus is awarded after depositing a fixed amount in your account. The amount of bonus depends on the deposit amount. This bonus can be taken on every new deposit. It is the best opportunity for beginners to start forex trading. Bonus money can be utilized for earning profits. Though it has many benefits, but it is not appropriate for all the traders cup and handle forex.
- No deposit bonuses
It can be given without depositing any amount in your account, but only new traders can get this opportunity. It can help in learning trading without any risk. There are some terms and conditions according to which broker has authority of taking back money anytime.
- Welcome bonus
It is provided to new clients on opening of their account for the first time and deposit money. These funds can compensate for trading losses. It is a type of additional financing for traders that cannot make heavy deposits.
Ways to choose best bonus
In foreign exchange market, careful selection of broker with bonus is very important. Brokers play an important role in success of trading. If you will not choose suitable bonus wisely then it will be a waste of time and money.
- You can find best forex bonus through extensive research
- Reviews of many traders will help to choose
However, many brokers like OANDA do not give any incentive though it is a great platform for trading.
In this oanda review, customers’ views are discussed.
- Merits of trading with OANDA
Many customers favor oanda trading services because of following plus points.
- Trustworthy and transparent platform
- Demo account facility
- A variety of trading instruments
- Security and protection of customers
- Reputable financial regulators
- Guarantees the rights of customers
- Comprehensive and technical support
- Demerits of trading with OANDA
Some customers are not satisfied with a few trading services such as
- No forex bonus
- Low leverage
- Not suitable for beginners
Forex bonuses are best way of making money. Some brokers provide this benefit while others not. Before availing any bonus, extensive research is needed.