The forex global market is huge and it has plenty to offer for all kinds of traders. However with the surge of forex trading platform, majority of trading platforms are coming up with forex trading bonus to attract more investors and traders. In fact, these bonuses have become one of the main elements with which forex traders choose their trading platform.
This article is dedicated to explaining what forex trading bonus means and what are the different types of bonuses offered around.
Meaning of forex trading bonus
As the name suggests, they are mainly inventive which are offered by trading platforms to their traders. These offerings are mainly connected with the deposits you carry out and the only condition is- you have to become a member of the website.
These are mainly promotion gags which are done by the trading podium to new as well as existing clients. Apart from registering yourself you also have to make constant depositions to your account in order to be eligible for the bonus offerings.
The various kinds of forex trading bonus
Deposit bonus offers
One thing which you should know is these bonus offerings are mainly mentioned in % and the figure which is mentioned is added to your deposited amount
Let’s explain this with the help of an example:
Say you have opened an account by depositing $100. The platform is offering you a bonus deposit of 200%. This means that on deposit of $100, the platform is giving you the benefit of another $200. So the total amount which is present in your trading account is $300.
No deposit bonus offers
This forex trading bonus is also connected to your account deposits. The condition which is applicable here is that you do not have to make any deposits to trade and the trading money will be given from the broker’s side in the form of a bonus.
A simplified way to put it would be the broker will give you a free start up cash to carry out your first trades.
When trading with the help of a no deposit bonus amount, you basically are not risking anything. Even you lose the money through your trades; you do not owe any amount to your broker. However if you win, you take all the profits and using that money you can open up a trading account!
Forex reload bonus
Another one of the common forex trading bonuses given out by numerous online brokers! Here the broker will give you the chance to deposit another time in exchange of a new kind or different bonus.
Offers such as 50% reload bonuses are offered by brokers and it could be the best bonus offer for big punters of the trading market or those who trade most times.
Welcome and VIP bonuses
Welcome bonus is mainly meant for new traders. The broker welcomes them with a certain amount of money and to trade. This can be in the form of a no deposit bonus or a conventional deposit bonus. So it would be advised to check beforehand about the terms and conditions of the website.
VIP bonuses are those in which you will have to set up a VIP account and for that special kind of bonuses are applicable. These are different kinds of bonuses are usually quite promotional. You won’t be applicable for these VIP bonuses if you do not open up a VIP account.
Hopefully now you have knowledge about forex trading bonus and its variants. Last thing to say would be to learn forex and start trading.
Wish you all the best!
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.