In this pandemic period, starting trading is indeed very good for additional income, it is highly recommended to work with a broker to do it. The recommended brokerage companies can be considered for you before trading on various types of financial instruments because they have received international recognition from millions of traders from all over the world. One of them is FxPro, this broker has received many positive reviews from previous traders. Here’s a FxPro review.
Just doing forex trading can get additional income, especially working with forex brokers with a welcome bonus. A lot of brokers provide numerous forms of forex bonuses, however the no deposit bonus is by far the most well-known due to the fact it does not require a qualifying deposit. No deposit bonus is a free cash prize given to newly registered traders by certain online forex brokers. Some of the other types of bonuses offered by the broker are deposit bonuses, reload bonuses, and friend-referral bonuses.
Why Do Forex Brokers Offer Bonuses?
Forex brokers offer bonuses for several reasons:
Competition – There are so many forex brokers in the industry and every forex broker wants to show potential clients that it is the best. Giving Bonuses is an effective way
Showcase Products – Bonuses to attract the attention of clients who can register only to claim the no deposit bonus and make risk-free trades. In this way, the broker not only attracts new clients but also allows them to trade for free.
Incentives for Trading – When online brokers offer deposit bonuses, friend-referral bonuses, and other types of bonuses to existing clients, it makes the trading environment more attractive and gives clients an incentive to stay back and continue trading.
Can We Cash Out Forex Bonuses?
Many trusted brokers offer a free deposit bonus that you can use to start trading on a real account. But can you use this bonus to its fullest to make a profit?
Our experience shows that the bonus you receive when you first register can be used for online trading. However, in the process of withdrawing or disbursing funds, several conditions must be met.
For example in InstaForex. The $1000 bonus we received can only be paid if it is difficult to get at least $100 with a minimum of 3 lots. Likewise, OctaFX, FortFS, etc., where we offer certain conditions before the withdrawal.
But it’s different with FBS. As long as our profit is more than $50 (aka when our FBS balance reaches $100), we can use the $50 bonus to withdraw money from our trades without any conditions.
How to get Forex Bonus?
Now the question that arises is how can you get a forex bonus?
Maybe many of the traders, especially beginners, feel indecisive about the world of trading because it contains a lot of risk of financial loss. They may have heard of the many successes and failures of trading experienced by local and international traders.
According to a study, only 10% of brokerage firms offer this most attractive type of bonus. As for the amount of the deposit that is given for free, it will depend on the policies of each broker. there are even some brokers who dare to give this no deposit bonus of up to the US $ 5,000. However, the average bonus offered by brokerage firms will be US$30, US$50 to US$100.
To get this super tempting bonus, you need to have a verified trading account. This means that you must first register by filling incomplete and accurate, personal information that is still valid and valid until now, including your e-mail address and mobile number. In addition, to registering, you will also be asked to attach a citizenship document that explains your national identity, it can be a passport document or a national identity card.
That’s why broker companies call this type of bonus a welcome bonus for traders who have successfully created their accounts.
Forex bonuses are usually only given for one verified account and are generally given only once when you have created an account. Of course, you cannot withdraw funds from this bonus. If you have already received this bonus, then you will be allowed to get other types of promotions held by the brokerage company of choice.
Wrapping Up
Choosing a trusted broker that provides this bonus, is a challenge for prospective traders. For this reason, you are advised to research carefully the various brokerage companies that have a positive reputation and clear and transparent regulations. The recommended brokerage companies can be considered for you.
