It’s wonderful for you to start with your trading with best forex welcome bonuses. Although welcome bonus is not the primary concern, it’s a motivational element to jump into your career. If you choose a broker with attractive welcome bonus programs, it’s a good beginning. In this article, I will give you some reviews of brokers and experience involved in welcome programs.
- Typical brokers with the best welcome bonus programs
I’ve had many years of experience in trading with many popular brokers all around the world and I know which brokers are offering the best welcome bonus forex 2018. I always put my trust in 3 typical names as follows:
When trading with XM, you deposit only $5 and get $30 non-deposit bonus. Besides, there are no hidden terms and conditions, the bonus is just automatically credited to the account.
Out of these 3 brokers, I prefer trading with XM because they have good welcome bonus programs. They also offer a 100% bonus on new deposition.
There are no hidden fees or commissions, and 99.35% of orders will be completed in less than 1 second.
- Standards of good forex welcome bonuses
When you choose a broker based on their bonus programs, you have to follow several standards to make sure that everything is on track and suitable for your trading strategies and conditions. Some of them are:
– Easy withdrawal conditions
It sounds good if you can withdraw your bonus from the account. But it’s harder than what you think. A lot of strict policies will be applied by some brokers, so you can’t withdraw your welcome bonus directly. But good news is that you can still withdraw the profits gained from trading with the bonus money. Some certain conditions consist of the minimum lot traded requirement.
More specific numbers are named as follows:
- XM has the fairest and easiest withdrawal condition. Traders who do business with XM only need to complete 0.1 lot to withdraw bonus profits.
- FXTM comes second with the requirement of 1 lot traded to withdraw profits.
- FBS has 123 bonus programs with the maximum welcome bonus of $123. The highest profit that you can withdraw for each lot traded is $3. For example: You will get $60 of profits from 7 days of trading if you traded at least 20 lots.
– High welcome bonus value
Even a beginner or a long – term trader like being offered the best forex welcome bonuses, and of course as high as possible. Out of those three brokers that I’ve listed above, FBS offers the highest amount of welcome bonus which costs up to $123, while XM and FXTM offer relatively the same amount of welcome bonus which is around $30.
– Reliable forex brokers
Choosing a reliable means to lead you to half-way through success. After trading with several brokers, I always appreciate XM in terms of their reliability and transparency.
- Top 4 good forex bonuses
This list is not at random. It’s my final result after a long time of carrying out research and trading with several brokers all around the world. I just want to share 4 typical brokers with relatively superior bonus programs to the other brokers:
- Best welcome bonus – XM: 30$ welcome bonus
- Best welcome bonus – FBS: 50$ welcome bonus
- Best deposit bonus – XM: 100% deposit bonus
- Lot Back Bonuses – Exness reviews: Rebate 2 – 16$ per lot
- Should we choose brokers with good bonus or low spread?
As usual, the brokers with good bonus programs are considered to be better than the brokers with low spreads. This is not really true. As a trader, you need to pay attention to long –term plan. The lowest spread forex brokers often are better than other brokers in the long run. Because you’re always trading with the best trading conditions that you could have when you choose those brokers. And the decisive standard for this is broker’s credibility and transparency.
- Other types of bonuses
Beside welcome bonus, most forex brokers also offer many different bonus programs such as Deposit bonus or Lot back bonus (Loyalty bonus). More information is listed as follows:
Deposit Bonus is the bonus program that is based totally on your deposition amount. That’s reason why you can get more money from this bonus simply by depositing more money.
Lot back bonus (or Loyalty bonus) is the bonus program that most experienced and professional traders prefer because the program automatically rebates a portion rate of your every transaction to your account. For example: XM’s spread for the EUR/USD currency is 1.4 pip and the rebate amount are $3 for each trading lot completed. This means that you only need to pay $11 for each EUR/USD lot instead of the whole $14 of the original spread.
- Ways to exploit forex bonus programs
I think a lot before sharing this information. As you know, it isn’t good to use any kind of cheating method in trading forex. However, if you feel curious about this, here are two popular ways. Both of them are involved in creating a lot of new accounts to exploit the welcome bonus program. I warn you about the risks that can be taken seriously.
– You need to hedge two newly created accounts together. This means that you’d have to allow one account to win and the other one to lose for maintaining a winning rate of 50%. This method of cheating can only be applied on brokers with loose and easy withdrawal policies.
– Basically, this way is the same as the first one but in this way, you also need to take advantage of the high leverages to open very big positions. For this way of cheating, a broker with high leverages is well-advised.
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