There is no denying the benefits that forex bonus programs offer to traders, especially beginners. So, many bonus programs are offered by the best forex brokers 2018 to attract traders. In this article, we will focus on forex welcome bonus because it is not only easy to achieve but also they are for most traders who are wondering in choosing to open accounts and take advantage of it.
As for the welcome bonus, as its name, you do not have to deposit any amount of money but just register a new account in the broker’s system, you will receive a welcome bonus. We will learn the recipes to choose best welcome bonus as following order:
- Review 3 brokers with the most outstanding forex bonus.
Currently, it’s not hard to figure out the welcome bonus program. However, there are three names most prominent appearance and should be mentioned. Here is list:
It’s my considered opinion that I prefer XM because not only their welcome bonus program is excellent, but also they offer a 100% bonus on new deposition.
Standards of good forex welcome bonuses
Below are my 3 common standards when it comes to choosing a broker based on their bonus programs:
- High welcome bonus value
The basic thing is that no one loves some small bonuses instead of some big bonuses so the bonus value is as good as possible. In the foreign exchange market today, it can be said no one over the FBS since they offer the highest attainable welcome bonus amount which is $123, while XM and FXTM offer relatively the same amount of welcome bonus which is around $30.
- Reliable forex brokers
Although the second, but not least. You need to make sure you are dealing with a reliable broker rather than an easy broker to steal your money anytime, or be a scammer. I take the view that XM to be the best in term of reliability and transparency.
- Easy withdrawal conditions
To ensure that transactions are not affected by fraudulent factors as well as the interests of brokers. That is the reason why the best ECN brokers 2018 offer strict withdrawal conditions such as the minimum lot traded requirement In fact, you can’t really withdraw your welcome bonus directly but you can still withdraw the profits gained from trading with the bonus money. More specific are as follow:
- XM by far has the fairest withdrawal condition. Traders who do business with XM only need to complete 0.1 lot to be able to withdraw bonus profits.
- FXTM require 1 lot to be able to withdraw profits.
- FBS has 123 bonus programs, with the maximum welcome bonus being $123. The highest profit that you can withdraw for each lot traded is $3.
For example: if you gained $60 profits from 7 days of trading. In order to withdraw all that profits, you’d need to have traded at least 20 lots.
3. How about other types of bonuses?
Beside welcome bonus, there are many types of bonuses that we can use during your trading process. Here is some:
Lot back bonus/Loyalty bonus: is the bonus program which suitable for experienced traders prefer since the program automatically rebates a part of a whole of your every transaction to your account.
For example: For the couple currency EUR/USD, XM’s spread is 1.4 pip and the rebate amount are $3 for each trading lot completed. It means you only need to pay $11 for each EUR/USD lot instead of $14 of the original spread.
From my experience, I can show you top 4 highlighted forex bonus in 2018
- Best welcome bonus – XM: 30$ welcome bonus
- Best welcome bonus – FBS: 50$ welcome bonus
- Best deposit bonus – XM: 100% deposit bonus
- Lot Back Bonuses – Exness: Rebate 2 – 16$ per lot
4. Tips to get more bonus amount.
Here are some tips that you can apply to earn more bonuses. Note that these methods only apply to the welcome bonus
- We advise for broker who have high leverages. First, you have to create new account as much as possible to get the welcome bonus then you need to take advantage of the high leverages to open very big positions.
- This method is only apply for brokers with loose withdrawal policies. The same as the first methods for creating many new account. After that you must hedge two newly created account. This means that have a chance to get win rate up to 50%.
For Thailand forex traders, more about Best Forex Broker in Thailand