Welcome bonus intensively hit those fresh starters in the trading world a career kick start. Itis crucial that every beginner traders should carefully choose a broker with a favourable welcome bonus. Our discussion topic in this article will focus on my explanation and reviews in detail about the brokers that regarding my experience is introducing some ideal and attractive welcome bonus packages.
- Some most incredible existing welcome bonus packages
I have been trading for years and working with some leading brokers on the trading market. In general, I have finalised my list of brokers introducing engaging welcome bonus programs. My list of brokers is narrowed and focused on only three leading providers, including XM, FBS and FXTM. I detail my views as follow:
Among the top 3 three listed above, my most favourite is XM. They not only introducing exceptional welcome bonus packages, but they also have a special offer for new deposition up to 100%.
- Forex welcome bonus programs – criteria of the good
Focusing on the bonuses, I aim to discuss my personal opinion of 3 standards for traders in choosing a broker according to their bonus offers
- Terms and condition of withdrawal is simple
It is not easy, even strict for traders to withdraw their bonus as per controlled policies of brokers. Although a direct withdrawal of welcome bonuses is probably impossible, you are generally able to withdraw the profit of bonus money earning after trading. The requirement of the least traded lot is commonly used within brokers as a withdrawal condition if traders intent to take out their bonuses. The particular quantities of a minimum transacted trading lot obligation of my best forex brokers in the world list above are as below:
XM: traders are dealing XM enjoy among the most generous withdrawal condition. They only ask traders, who expect to take out bonus profits to complete 0.1 lot.
FXTM is the second from the list. Their condition of profit withdrawals is to complete one trading lot.
FBS is applying for 123 bonus programs. They offer the top amount of $123 bonus. Since the maximum possible withdrawing profit as per transacted trading lot is $3. Let’s take an example. Pretending after seven trading days, you earned $60. It is possible to withdraw all that profit if you have done a minimum of 20 trading lots.
- Great rate of welcome bonus
In general, traders probably expect a high amount of the welcome bonus packages. Considering among the mentioned brokers, I prefer FBS as they introduce the best deal of welcome bonus volume of $123. Meanwhile, both XM and FXTM are applying comparatively the same offer of a welcome bonus package, which is about $30.
- Trusted Forex Brokers
There is no doubt that you possibly only trade with your selected preferable trusted brokers. In my point of view, my experience in trading with different brokers shows that my choice of considerable broker is XM due to its trustworthiness and transparency.
- Other bonus options
Along with welcome bonus, there are various bonus programs offered by the majority of brokers like Deposit bonus or Lot back bonus (also known as a Loyalty bonus). In particular:
- Deposit Bonus is a reward package built to remunerate your deposition amount. According to this bonus, you can simply have extra money with your deposition money.
- Lot Back bonus/ Loyalty Bonus is an incredible offer for experience traders and experts. The package will spontaneously refund a partial amount of every transaction into your account.
Pretending the spread of the EUR/USD currency of XM is 1.4 pip, so the rebate rate for each transacted trading lot is $3. In other words, instead of paying $14 of the full original spread, the actual amount that you spend for this trade is just $11 for each lot.
- The possibility of withdrawing Forex Bonus profit
Based on my discussion through entire this article, it is possible to take out your bonus profits. However, you need to satisfy certain withdrawal policies that are applied by most brokers. There are two common withdrawal conditions that currently apply within brokers.
- Transacted trading lot completion necessaries
According to this policy, I have explained and discussed in detailed example recently. In short, you must encounter the withdrawal bonus policy of brokers. The common policy is a minimum trading lot completion for the act of taking out bonus money. While brokers tend to give you a chance to take out your earning bonus, it is the fact that you would deposit an unexpected amount of money higher than the bonus in order to perceive the number of a required trading lot done.
- Straight withdrawing bonus not accepted
Bonuses, especially welcome bonus and deposition bonus are strictly controlled and limited traders from withdrawing by most brokers that I have worked with. It is the consequence of the fact that without this restriction, there is loads of cheater and exploiters take this advantage for their self-interest.
- Considering between good bonus and low spread – which offer is better
Initially, it is common that trades prefer an incredible bonus package to be more favourable than the low spread programme. In a long-term perspective, as traders, there are more considerable points. You would probably trade with the brokers that provide the best trading conditions at all time. Therefore, in long-term, low spread is always a better environment to trade on. In my point of view, to choose a broker that I can trust to trade a large amount of money, I always prefer brokers with outstanding circumstances.
- 4 Top picked Forex bonuses
According to my research, I have compared and contrast the bonus offers among the leading brokers. As a consequence, there are four brokers in my list that is relatively offering incredible bonus programs better than the others. There are detailed as below:
- Top in welcome bonus – XM: 30$ package
- Top in welcome bonus – FBS: $50 package
- Top in forex Deposit bonus 2018 – XM: the rate at 100%
- Lot back Bonuses – Exness: per $16 lot – refund $2
- Some trick and crack the Forex bonus program – some applicable method
There is doubtless that cheating is not a moral action. However, there are commonly known methods suggested by experienced traders to do so. The most popular methods are both suggesting traders have multiple accounts. Here are two methods to exploit the welcome bonus program
- Creating two accounts for hedging: in the act of hedging, one of your accounts will be on win position. In contrast, the other one will be on losing position. This action is to ensure the sustainable win rate of 50%. This practice is only applicable to lose withdrawal conditions
- The second trick is likely similar to the previous one, but you need the further action of taking advantage of high leverages. So, it needs to open a very high position. This practice is recommended to apply on high leverage policy.
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