Forex Bonus - How Does It Work Or No?


forex bonus work or no


Whenever a new forex excited guy tried to do something in the industry – forex bonus options came up. It happens, often happens. Beginner guys always do the mistake. An attractive offer by a brokerage – and he took it. Yes – he couldn’t grab it. Then other good sounds offer. And what happens – yup – again he lost his time with some confidence. Later he decided NO – I don’t need to use their money. I will invest in a good deposit offer.


Guess now – what is next? Probably you caught it successfully. But – there are a few guys always in the world who don’t like to give up. Unfortunately, due to less education and experience – they lose money in a repeated cycle.


So, we’re gonna find it out that would it work at all? Though we see reviews on bonuses negative and positive. God knows who are talking the truth. But I am sharing my personal observation as well as my few acquaintances real experiences.


As you are reading this – I am not gonna kick you out of forex promos. But you gotta be careful about few things to get it to work out.


find-correct-broker




Find the Correct Broker


Finding a legit broker is not the too hard thing. Though when you search for “forex broker” you will get at least thousands of broker’s list. Like many other things, there are scum brokers. To identify a scam broker – finding regulation. Not only regulation but also there are more options to consider.


Fact is you gotta keep yourself out from a bad broker. Most of those bad brokers are just money grabber. You go to them after seeing an offer. Which may sense you they are so open to clients – unfortunately, they are not. You need to find a regulated broker so – goes something unethical then you can claim your money back from them. Because regulated broker is controlled by financial authorities. They can’t do anything they want. I would suggest you choose a reliable and viable broker recommended/considered by your nearest trader.


conditions-are-factor




Conditions are Factor


Forex Bonuses announced with many criteria such as – deposit bonus, no deposit bonus, referral bonus, draw bonus etcetera. A Beginner could accept an offer without any inspection. There are a few things should you consider before applying for a promotion. In common sense – the bonus should be withdrawable.


So, how it’s not withdrawable? If a broker says – bonus can be withdrawn after a certain lot of trade. This is the key factor about withdraw abilities because big lots never let you win. So you can’t make money with your new forex money seeking eyes.


does-it-worth




Find out how much worth it


There are a lot things need to be checked. Keep in mind that – brokerage houses are here for business. Most of them will try to discourage by putting several policies. Suppose you’ve earned it – you got $100 from their trading conditions and finally you’ve decided to get it on your hand.


Here comes new policy – broker house will apply certain rules and fees with it. Then maybe you will decide to deposit a few more bucks instead of withdrawal. Now you will lose your sense about their business and get involved with the broker. I hope you already got what it means.


But if you decided to withdraw the amount $100 from them – then they will apply policies and maybe that will cut 40% of your profit. Later you will get $60 in your hand. Wait a minute – this is not just the end of the story.


up-your-mony-wroth


Some brokerage house will tell you they are starting to provide that bonus amount to your online account or bank. You will start to wait, wait and then wait. After a few days, you will contact them and they will say something like an apology to not getting the amount. Then you will get back your hope again. You started the waiting again.


Then, you will need to contact them again – now they will ask you a few questions regarding your authenticity. Maybe you’ll fail with their questions and the story will end with a tragedy.


Or it will not just end here – it will start BONBON rounding again with another fact. I would say – just never trade with those brokerage houses. They are not here to keep honesty but money. Better get away with them because these are scum broker.




Before you catch a bonus


Maybe, you are afraid of it. Well, I’m not discouraging you to have a test/experience with offers. But I wanna share you one of my friend’s story –


She deposited $350 into a broker because of 100% deposit offer. My friend had a good strategy to trade with gold. As the offer claimed - she got $700 as equity. She opened 0.1 lot volume trade and successfully doubled her equity. Well, she did put 0.2 and 0.3 lot trades too.


When she decided to withdraw her money the broker checked her trades and asked about 20 lot trades. Unfortunately, that big volume didn’t cross yet with her all trades. So she decided to trade again and completes 20 lot which wasn’t easy. But there’s already a week was over. They cut her bonus profit and reverted back to deposited amounts. She even couldn’t get her chance to complete 20 lots.


It was her mistake as she told – “I didn’t read carefully their terms and conditions before putting my first email to send withdrawal help”


Moral of the story is – you should read TOS must before your plan to grab a bonus. You know they may describe their terms like this -


company-reserves-right



 

Do You Know the Hardest Part of a deposit bonus?


Let’s investigate why it often goes hard. Guess someone deposited $500 to his forex account and for this, he got $250 as % of deposit bonus. So his equity comes to $750 for the moment and later the guy is trying to withdraw $200 from the account. In this point many brokers won’t like to get the money out from their territory so his money will be stuck in because of their money is mixed with his money.


understand the bonus hard part


Usually, a big lot trades are mandatory to grab your desired money and - if you want to become $200 (mentioned above with someone) yours probably you have to trade $200K equal worth money in your terminal. Though several brokers allow you to withdraw $200 in this scenario you will lose a % of your bonus balance.




So what do you think to do?


I tried to show you what’s happened when a bonus is a matter to you. Do you have any experience which could save other traders bucks? Or do you have anything to say about forex bonus? Let us know. Before you exit from this page – I advise you, do not be excited and lose your normal situation from the brain on a bonus you’ve got online.


The last thing – if you think this blog could help your near ones or it should be shared on Facebook/Twitter so others can learn about it, don’t forget to share it. That was all today, I will update this blog whenever I got something to add.


It is not true that all bonuses out there are sucks. Truth is several forex broker bonuses are good for trading but rare. Lear the fine edge of promotions, compare features as each situation and broker are different. In my sense, don’t take it!


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