There are a lot of forex brokers offering welcome bonus to their clients, but there are many traders who are not aware of this benefits. From a more critical point of view, forex welcome bonus can make all the difference in the life of a forex trader. In this article, the focus will be on the following
What a forex welcome bonus is
How to access a welcome bonus
Brokers that offer welcome bonuses
WHAT IS A FOREX WELCOME BONUS?
A forex welcome bonus is a free package a client gets when he or she registers with a broker that offers a welcome bonus. The aim of the bonus is to better equip the traders to do well in trading the forex market, as well as encourage them too. A forex welcome bonus can be in the form of money that can only be traded with, free trading tools and services. Once the trader fulfils the required criteria, the trader gets access to the welcome bonus with which to trade.
It is common for many to think that welcome bonuses are money, but that is not always the case. These offers can be in form of money, trading tools, or access to a virtually simulated forex platform. This simulated platform is really beneficial to a lot of forex traders, especially the new ones who do not practically know what forex trading is about, and need to have a feel of the market before going live into the forex market. It is, in most cases, known as a demo trading platform, a no deposit bonus, or a practice account.
The thing about the demo trading platform is that anyone at all that is registered with a broker (that makes such offers available) can trade on this platform without making any financial commitment. The platform functions just like a live forex trading platform, which gives the trader a feel of what the real market is all about. Another good thing about this platform is that the trader does not get to make any deposit before accessing this platform. However, any users must know that, just as the platform is virtually simulated, the profits or the losses gotten from trading on this platform are also not real. The trader can only learn from trading on it.
There are a lot of forex brokers that offer welcome bonuses to traders, all of which, when used properly, can help a trader grow in skill and experience in the forex market. It is advised that traders make use of such opportunities for their own good, specifically the advancement of their careers.
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.