It must be good news if you get the best forex welcome bonuses. However, this kind of bonus is not accessible to everyone. And the forex welcome bonuses may seem like a simple concept to master, but it may actually not be as easy as it appears. This article is provided to help you to have a thorough understanding of the basic elements of the best forex welcome bonuses and how to get the best bonus for your investments.
1. 3 BROKERS OFFERING THE BEST FOREX WELCOME BONUSES
I will give you the definition of welcome bonus before going into details.
A welcome bonus (called: non-deposit bonuses) is typically a good motivation for traders to register with a best forex broker, which can either be a no deposit bonus or an ordinary deposit bonus. In both cases, the bonus is only offered once. Unlike an ordinary deposit bonus, the welcome deposit bonus refers only to the trader’s first investment.
In forex trading world, there are 3 brokers offering the best welcome bonuses.
- XM
- FBS
- FXTM
What makes XM better than other types of brokers is that there are no re-quotes or rejections of trading orders, no hidden fees or commissions, and 99.35% of orders get executed in less than 1 second. When trading with XM, you can just deposit $ 5 and get $30 non-deposit bonus. This bonus will also depend on the client’s country of residence. There are no hidden terms and conditions, the bonus is just automatically credited to the account.
When trading with FBS, you can just deposit $ 1 and get $50 of welcome bonus. You can withdraw profits without restrictions. Bonus can be withdrawn when you reach at least 100 microlots (10 standard lots).
You will deposit $5 for FXTM. FXTM brokers offer a big welcome bonus to all new traders, giving them $10 to trade with when they register for a new account. You receive a trading bonus of $30 when you open an account and make your first deposit within 30 days. It is a fully tradable credit and a good bonus in your journey to making profits.
From my research and experience, I can strongly believe that XM is more reliable broker. And besides welcome bonus, they also have deposit bonus at 100% rate.
2. STANDARDS OF GOOD FOREX WELCOME BONUSES
There are popular standards to be offered the best forex welcome bonuses. Here are some of them:
- Easy withdrawal conditions
- High welcome bonus value
- Reliable forex brokers
Easy withdrawal conditions
In general, we can’t withdraw bonuses. We only can withdraw profit that we won from bonus trades. All these brokers allow you to withdraw profit. The condition is: Traders have to complete minimum number of lot trade.
- XM has the easiest withdrawal condition. Traders only need to complete 0.1 Lot to withdraw all profit.
- FXTM is the second easy withdrawal condition. Traders have to complete 1 lot to withdraw profit.
- FBS has 123 bonus program. Traders can get up to 123$ welcome bonus. For each trading lot, you can withdraw 3$ profit. Example: After 7 days trading, you won 60$. In order to withdraw that 60$, you have to trade at least 20 lots.
High welcome bonus value
- FBS offers the highest welcome bonus value: 123$. This bonus is offered to every trader. No contact details or verification are requested. It’s valid for 7 days.
- XM and FXTM offer the same welcome bonuses value: 30$. For XM, this is a non-withdrawable bonus only available to new clients. You don’t have to deposit money into your account in order to be able to become eligible for this bonus and all profits that you earned can be withdrawn. It’s a wonderful thing.
For FXTM, this bonus is offered for any amount of the first deposit made and to a minimum of $500 USD for each of any further deposits.
If you want to choose other brokers for best forex welcome bonuses, remember that investments take a high level of risk. You should consider whether you can afford to take the high risk of losing your money. Please be advised that certain brokers, products, bonus and/or leverage may not be available for traders from some countries due to legal restrictions.
Reliable forex brokers
In these 3 brokers, XM is the most reliable forex broker. They are also the best forex broker for beginners. They have ranked as 71/100 about trust core. Besides, they have good commissions & fees and high- quality customer service.
LEARN MORE BEGINNERS HERE
3. Besides welcome bonus, how many types of forex bonuses?
There are 2 types of forex bonuses left. They are:
Deposit bonuses: These are the amount of money you will be offered when you deposit. They are carefully calculated based on percentages of your deposit amount.
The bonus can be 20%, 50%, 100% of the total deposit. This is a good bonus. Brokers offer this rate because they want to encourage to deposit or reactivate their accounts which haven’t worked for a long time. Some brokers also offer this bonus to first time of depositing.
Lot back bonuses are just suitable for the loyalty program. When you finish 1 lot/transaction, brokers will pay you back an amount of money to your account automatically. The rebate amount will depend on your trading currencies, account types, and trading time. This bonus will minimize transaction cost, so it becomes favorite types for professional traders all around the world.
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4. CAN WE REALLY WITHDRAW FOREX BONUS PROFIT?
To withdraw forex bonus, you need to know 2 main withdrawal conditions:
Some brokers allow you to withdraw bonuses if you completed a certain number of trading lots.
For example: To withdraw $50 bonus, you have to complete at least 10 lots. When you register or deposit in 1 lot, they will deposit bonuses to your account instantly and let you trade. If you win, you only can withdraw that bonus when you have completed up to 10 lots.
Some brokers don’t allow you withdraw bonus. Luckily, you can still withdraw the profit.
They can ask you for a certain number of completed lots, it is very difficult to withdraw. You even have to pay more than the bonus value to complete those required lots.
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5. WHAT SHOULD WE CHOOSE, GOOD BONUSES OR LOW SPREAD?
For me, forex bonuses are good, especially the best forex welcome bonuses. However, it’s not the most important condition to choose a broker. The first condition to choose a broker is their credibility.
Every trader like getting forex bonuses. But keep in mind that, this is not decisive element to choose a good broker. The credibility is the most important and the first condition to pay attention to.
Here are some of my suggestions to be offered good bonus:
- List down 5 best brokers that are suitable for you.
- Choose best forex brokers that offer the program of best forex welcome bonuses. Of course these brokers are very reliable. So if they have bonuses, it is much better.
- Trade and get bonuses.
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6. TOP 4 GOOD FOREX BONUSES
If you want to get a lot of forex bonuses, don’t hesitate to begin with these:
Best welcome bonus: 30$ welcome bonus of XM
Best welcome bonus: 50$ welcome bonus of FBS
Best deposit bonus: 100% deposit bonus of XM
Lot Back Bonuses: Rebate 2 – 16$ per lot of Exness
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7. 2 WAYS TO CHEAT FOREX BONUSES
A bad news is you can only cheat welcome bonuses. It’s impossible to hack other types of bonuses. For welcome bonus, there are 2 tricks to hack them:
The first step is to create a lot of new accounts to get welcome bonuses. After, 2 accounts will be hedged together. At the meantime, 1 account will win and 1 account will lose. This cheating way can only be applied to brokers who allow you to withdraw bonus profit without conditions.
Several new accounts will be created by the cheaters to get welcome bonuses. After that, they use the high leverage to open very big positions. They also need to hedge them with other accounts to make sure the rate of winning is 50%.
