It is not always an efficient strategy to get people to move from one brokerage to another simply by offering advanced technology for trade execution and low spreads. Anyone that really wants to attract traders from other brokerages as well as new ones will have to do better than that.
TRADING THE FOREX MARKET WITHOUT DEPOSITS:
The competition is so fierce and many are willing to do anything to stay above competition or at least to stay in the market at all. As a result of this, many forex brokers started to offer financial bonuses to their clients. At first, the bonus came in such a way that the trader will have to make some deposit in order to activate and trade the forex market with the bonus. To beat this strategy, some other brokers started offering bonuses with no deposit required. They came up with the idea of offering any trader that signs up with them a free welcome bonus with which to trade the forex market without any deposit for activation or anything at all. These bonuses, which by the way can be as much as $500 or even more, can be used directly to trade the forex market, make profits (or losses), without having to pay back to the broker.
TO TAKE OR NOT TO TAKE:
With offers as much as $500 or more to trade the forex market with free of charge, many are beginning to get enticed and a lot others who are more cautious are beginning to ask questions. Is it right to take up this sort of offer or should one totally ignore it? Definitely, there are two sides to every coin, and it is always a wise act to weigh the both sides before making a choice in a case like this.
The good things about forex no deposit bonuses are that traders can trade the forex market without risking their own funds; growth of trading experience and skills; and more. Free forex bonus is like a free lunch, and everyone likes a free lunch.
On the other side, there is really nothing to point out as a disadvantage with the free bonus forex offers. The money is free; all the trader has to do is register with the broker and get the money to trade the forex market with free of charge.
Traders should know that the bonus money is meant for trading the forex market and nothing more. It cannot be withdrawn, used to trade other financial markets, or for any other purpose asides trading the forex market.
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.