You feel difficult to search for brokers that propose the best forex bonuses. You don’t know which bonuses are good or not good. You are unaware who will help you reply to these questions. You are really lucky when reading this article. In today’s article, I will show some problems in connection with forex bonuses.
Here are sections which I mention in this article:
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Sorts of forex bonuses.
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Drawbacks of each kind of forex bonuses.
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Good bonuses or low spread are the most important?
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Top 5 reliable forex brokers offer best forex bonuses.
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2 main conditions for withdrawing.
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Methods of cheating bonuses.
One of outstanding advantages of bonuses is to reduce their trading cost and minimize trading margins. For the sake of this pros, the majority of traders go in for forex bonuses. I don’t deny that some brokers dislike forex bonuses because they guess many disadvantages will happen in process of using bonus. Most importantly I will also teach you some regular techniques used to hack broker’s bonus programs and withdraw profit in this article.
1. 3 sorts of forex bonuses.
- Welcome bonuses (or non-deposit bonuses) refer to reward given to traders when they sign up as a member. Generally, these traders are new traders or competitors’ customer and bonus cheaters. To draw attention of traders most brokers can suggest from 30 to 50 dollars welcome bonus for the first time register. Traders use welcome bonuses with different purpose. Beginner’s goal is to check the broker’s trading conditions and consider whether these brokers are suitable for their trading strategies or not. Opening as many accounts as possible to gain these free bonus, then trading and withdrawing the profit is the purpose of bonus cheaters.
- A deposit bonus is a type of bonus that you get when you make a real money deposit, which means that you have to deposit money into your account to unlock the bonus. The amount of money you receive depends on percentages of deposit amount. For example, brokers can calculated 20%, 50%, 100% of the total deposit.
- Lot back bonuses apply for traders which have worked with brokers for a long time. When you complete 1 lot/transaction, brokers will rebate an amount of money to your account automatically. Brokers consider your trading currencies, account types, and trading time to give bonuses for you. This is the most common bonus program because of minimizing transaction cost.
For example: XM’s spread for EUR/USD is 1.4 pip, and they will lot back $3 for each completed trading lot. It means you only pay $11 for each EUR/USD lot instead of $14 of the original spread.
2. Drawbacks of each kind of forex bonuses.
- Welcome bonuses:
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These brokers are not reliable.
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The amount of money which you get is rather little.
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It is not easy to withdraw money.
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Deposit bonuses:
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For the sake of withdrawal conditions it is hard to get money.
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When you withdraw profit, your forex bonuses will be lost in some cases.
- Lot back bonuses:
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Everything is good but you will problems with time. It takes you really long to finally get some profit in trading.
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It’s only wonderful if you invest in a lot of money.
3. Good bonuses or low spread is the most important factor?
As I mention in some article before, low spread plays an important role in choosing a good broker. Therefore, good forex bonuses aren’t the most vital condition to select a broker. However, if your broker propose wonderful bonuses, you also should pick out it.
Here are steps help you to choose a good bonus:
Step 1: Write down some good brokers.
YOU CAN CONSULT THEM HERE.
Step 2: Write down best forex brokers that have good bonus program and make sure that you can get bonuses from brokers.
Step 3: Gather information and choose best forex brokers that have the best bonus program.
Step 4: Trade and enjoy bonuses.
4. Top 5 reliable forex brokers offer best forex bonuses.
With many experienced years in trading I list down 4 best forex bonuses as follow:
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Best welcome bonus: 30$ welcome bonus of XM
>> CHECK DETAIL BY CLICKING HERE.
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Best welcome bonus: 50$ welcome bonus of FBS
>> CHECK DETAIL BY CLICKING HERE.
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Best deposit bonus: 100% deposit bonus of XM
>> CHECK DETAIL BY CLICKING HERE.
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Lot Back Bonuses: Rebate 2 – 16$ per lot of Exness
>> CHECK DETAIL BY CLICKING HERE.
5. Two main conditions for withdrawing.
Firstly, whenever you completed a certain number of trading lots, you certainly withdraw broker’s bonuses. What a easy condition!
Secondly, you can still withdraw the profit without their permission.
It is a deniable fact that everything becomes much easier when brokers don’t require any conditions. In some situations, they ask for a certain number of completed lots, it is very difficult to withdraw. You even have to pay more than the bonus value to complete those required lots.
6. Methods of cheating bonuses.
The last part you desire to share for you is that 2 techniques in order to cheat welcome bonuses. Follow me, please!
1. You open as many accounts as possible to get welcome bonuses. Next, they hedge 2 accounts together which means that 1 account win and 1 account loss. á a result, you have a chance 50% for win. Remember! You only carry out this methods if brokers don’t offer any conditions.
2. This method primarily uses the high leverage to open very big positions. Firstly, the cheaters also open many new accounts to receive welcome bonuses. After that, you also need to hedge them with other accounts to make sure the win rate is 50%.
Read more : WHY IS EXNESS CENT ACCOUNT THE BEST ACCOUNT FOR FOREX TRADING BEGINNERS?
