What is forex deposit bonus?
Once you open a live account on a forex broker’s website you will try to take less risk on your capital, there’s forex deposit bonus comes. It means increasing the trading capital to trade with more comfort. Generally it took 10% - 100% on your first deposit, though some brokers allow without time restriction upon deposit. They will provide you the balance on your account. Not quite instantly, they will ask you to verify identity and current location by providing documents.
The campaign is often spoked by novice traders and who got their decision to invest and check their luck on Forex. As their demands, broker houses offers attractive deposit bonus campaigns in order to get new clients. There are thousands of brokers around the world now-a-days, so you should be cautious about choosing one of them. At ForexVolumes – we’ve decided to check and publish some of forex broker’s offer to check from our users as well.
You will wonder after seeing an offer such 500% deposit bonus. As a common fact – you will have your interest to get it. The bad thing is many traders don’t know how to choose a bonus anyway. The bigger volume of bonus makes them more interested than final calculation. In fact, big figure aren’t big in Forex trading promotions. A smart and attentive forex trader would like to read terms and conditions first before opening his account. Because, sometimes you have successfully traded but the broker won’t let you withdraw.
So, How Does it Works?
Thing are not as simple, you made a deposit via any acceptable payment methods and they will add it to account balance. They might ask for verification. Before applying for a bonus – you should make some things ready
- You have valid photo identity or passport
- Bank statement or water bill or any kind of utility bill to prove area of residency
- Secure personal email address
- Your trading and securely maintained phone number
- Find which account type is eligible for deposit bonus offer
- You must read terms and conditions for the campaign, don’t get hijacked by excitements
If you’re prepared with all requirements of those then send a contact email or chat with them via live chat support if available. After opening an account, the broker could assign a person for managing your account. If you already have an email or phone call from account manager then this is good for limiting troubles. After a few hours the deposit bonus should be added on your account. For any trouble you are free to talk to them.
Type of Deposit Bonuses
In general concept, you will upload funds to them, they will increase a percentage of your invested amount of equity. But, there are some verities too. Let’s check it out –
First Time Only
This promotion is available for once after opening an account with the broker. Often, these kind of promo restricts time and location. Before applying for first time offers you should check the term if it fits for you.
High Margin Bonus
Not for first timer or new traders, only available for high margin traders. The broker offers it usually they provide it to their loyal and VIP customers only. After many days of successful trading relation – it’s a favor from the broker, both get benefited in this campaign.
Regular % of Bonus on Every Deposit
Some brokers always keep a forex deposit bonus offer for their customers on their investments. Traders who already found their favorite broker – the regular forex deposit bonus is such a favor to them.
Top Forex Bonus Offers Shortlisted Here
The government changes financial policies time to time, it makes finance commissions stricter often. As a result top and loyal broker houses don’t offer such attractive promos which can harm their reputation. If you don’t want to take your long research over and over for every possible broker houses – we’re shortlisting some of those offers bellow. The rest of it is - your consideration and intelligence, to decide which one or more to pick.
Choosing the Best Promotion: the Fact
Let’s assume you’re dealing with a broker who has an offer of 100% forex deposit promotion. After formal things are done –depositing $500 you’ve got the opportunity to trade in your MT4 or MT5 or whatever you use. You didn’t made any big profit though you’ve $1000 balance on your account. And now you want to withdraw $200 for important online payment. The fact is – you won’t able to do so, because the money is mixed now. As no open trade currently - a broker should let you do it, if not try to get rid of the broker.
The worse experience from various trader is - in order to get complete % of bonus – a hard way have to walk away. A big lot of trade may require in order to prosper the balance. Typically it took $10,000 of trade for every buck ($1) in real balance. If you’re not familiar with lots and such forex common terms best suggestion is to avoid any investment and understand forex first.
It could makes you unreliable to trade in forex, you can read Forex bonus does it works at all to have better knowledge on forex bonuses. The other important thing is did you lost your capital from any forex trade? Or having lose money over and over again? You might want to read How to recover from loss on our forex blog.
Every trader has his own policy to get return profits so broker does. If you’re thinking about grabbing up that bonus in your pocket smoothly then most probable future is you’re wrong. Strong suggestion is – keep it in your mind that everyone has their own policy to make money. If you think they are stupid then it could inversely truth to you. In fact, you should find reasonable cause to decide participating on a broker’s campaign. The main reason to announce a bonus is to attract clients – in case of a broker. But as a trader your main reason to participate could be “if it fits with your trading idea”. If it can’t adapt your trading methodology then don’t waste your valuable time as well as money.
Yet, we have found several entries from agents and broker houses, without any recommendation you can research on your own with these offers. We will publish according to entry submits these items.