When deciding to start trading, traders are required to choose a reliable broker, Fx Pro Broker can be relied on. Fx Pro Has good reviews from previous users, Here’s the Fx Pro review. Traders may be a bit confused by the various features offered by the broker, not to mention the aggressive promotions with various offers such as forex deposit bonuses.
For example, made simple, the bonus is compensation for the trader for choosing a certain broker. When a trader has opened an account with one broker, the next trader is allowed to trade forex with the same amount of capital as other traders.
There are many forex brokers with welcome bonus, this is their way of giving a kind of gift for choosing, and the amount depends on the broker’s policy. The parameters for giving bonuses are generally seen from whether or not traders are active in the market, and the bonuses given are getting bigger as they are active in the market. See below to see some of the bonuses on offer:
#1. No Deposit Bonus
This type of forex trading bonus is given to traders without having to make a deposit first. The amount of the bonus given varies, between USD 5-50 for each trader. Brokers generally distribute this kind of bonus as part of the offer to traders so that they are more motivated to take advantage of the opportunity.
This bonus can help traders in trading situations, like capital that is commonly used when trading. What must be understood, this type of no deposit bonus is very rarely practiced by every broker. If you find one, make sure that what the broker offers is trustworthy.
The no deposit bonus will be of great use to traders in terms of developing trading strategies. This is because traders can try new strategies and different trading styles without fear of taking significant risks. In other words, this bonus can offer stress-free trading opportunities.
But there is one drawback of this type of bonus, namely that traders are often in a hurry to use this bonus when they first set foot in the market. Instead of recognizing the market through a demo account, many beginners get stuck in starting to trade in the real market right away.
#2. Forex Rebate
Simply put, a forex rebate is a commission or part of the spread that is returned to the trader’s account when he has closed a position from the market. In general, the rebate process is done quickly. However, many brokers return rebates to traders in monthly cycles.
It’s a bit difficult to say whether forex rebates include bonuses that are positive or negative. To clarify whether the forex rebate is a bonus or not, the trader needs to assess the trading rules of the broker. For example, a broker imposes a spread on EUR/USD of 3 pips and promises a rebate of USD 20 for each lot, this kind of offer is certainly attractive.
But on a basic basis, it won’t be much better than offering a 1 pip spread for EUR/USD. In other words, if you find a broker that offers no rebates, but provides EUR/USD spreads with an average of 0.8 pips, it is not a wise move to open an account with this kind of broker.
Forex rebates can be profitable only if the trader is compensated for each lot taken, and there is no minimum amount that must be met to get the bonus. When looking for a forex broker with bonuses and promotions, traders may get a lot of different offers.
The main criticism for forex rebates is that bonuses like this are sometimes useless for traders. As mentioned, forex rebates may be attractive, but in most cases, they will only end up as trading compensation which is sometimes disproportionately large.
#3. Deposit Bonus
This could be the best option a trader has, and sometimes it comes with attractive offers. Many brokers offer deposit bonuses ranging from 40% to a significant 400%. What traders must remember is that the deposit bonus is not always about the one who will get a large portion of the bonus.
When looking for this kind of bonus, the broker selection process is a crucial step. Many traders choose a broker based solely on the calculation of the number of bonuses offered, then choose the one that gives the most. This is certainly not a good way to choose a broker, and many traders get stuck because they can’t withdraw their deposit bonuses.
When choosing a bonus for your next deposit, the main idea is to open an account with a reliable broker, then make sure the broker offers the bonus. If not, this is not a problem because at least the trader can trade safely and the trading account is protected.
On the other hand, when a trader wants to claim a 200% deposit bonus from a broker in the middle of nowhere, the trader will likely encounter problems and big risks when withdrawing the bonus. It’s best not to waste time choosing a broker with slightly unreasonable offers.
#4. Trading Gifts
Traders may see some brokers offering smartphones, tablets, or similar gadgets as part of a trading gift to get traders to open an account. This offer is certainly quite attractive for many traders. But, the fact is that there is no broker with a high reputation that provides this offer.
The reason is that no profit is made by the broker by sending expensive gifts to clients who have just finished opening an account. An unreputable broker will probably do this, as there is nothing at stake.
Initially giving this kind of offer, then not sending the promised prize, or changing the advertising and promotions, then replacing the gift with a cheap product, or simply canceling all the offers that have been given to the trader.