Welcome bonuses are not the key factor to decide which one to invest money in; however, this kind of bonuses can still be the benefit for traders. Especially, starting traders can use welcome bonuses to reduce the trading fee or to learn more about trading without losing a lot of money. Here is some information that could be useful for fresh traders to check on the ways brokers give bonuses or how to withdraw bonuses and get some more of the best welcome bonuses with some little tricks.
First, learn some features of the good welcome bonus givers
That is the way for traders to limit the minimum loss when they are naive for the market; they still have review from other traders to know how to judge the best bonus program
Convenient withdraw conditions
There are some difficulties caused by brokers for traders about the bonus withdrawal. That is traders can not withdraw the bonuses that they have from trading. They just probably take the profit from the bonuses that are transferred into their account. And also, to have the profit, the conditions to withdraw are not something can be met easily. Brokers usually require about the limit number on lots traded and with different brokers they have different policies on this matter. XM has the best reasonable condition when they ask traders only 0.1 lot completed before traders can take the profit. Come after that is Exness with 1 lot completed required and the other one is FBS who has the highest bonus value with the biggest number 123$. However, with FBS they allow traders to have only 3$ after one lot and if you earn more than 3$, for example 60$ for 7 days then the number of required lots are 20 lots to withdraw the profit.
Welcome bonuses are good but traders should be careful with the credibility of the brokers as well. So, any brokers can prove they are clear from the scams or any other problems they are the safe place for traders.
Welcome bonus value is high
Different brokers offer different amount of the welcome bonuses. Among XM, FBS or Exness, the second one is giving the highest amount with 123$ for welcome bonus while XM and Exness have the equal amount, about 30$. -> Exness sign up.
Top three best welcome bonus brokers
To have a trustful list of the best welcome bonus brokers, I have been learning and surveying a lot about many brokers that have the bonus programs. That is why I can be sure about my list below that give you some names to trust in with your business:
As my experience, XM is the best one with the wonderful policies for bonuses and 100% deposit bonuses.
Two more types of bonuses
Traders can make benefit from two other kinds of bonuses that are deposit bonuses and lot back bonuses
Lot back bonuses are given for traders when they finish one transaction and the percentage of the transferring fee will be rebated when you transact. The level the rebate can depend on the pair of currency transacted and the time of the transaction. Considering the spread of XM when you finish one trading and the spread is 1.4 pip but with the lot back bonus, they cost you just 1.1 pip, which mean they subtract 0.3 pip for the spread for the currency of EUR/USD. This kind of bonuses helps traders to decline a quite amount of fee so it is their favorite bonus program.
Deposit bonuses are the award brokers give to traders based on the deposit amount of the traders. The more the deposit amount is the bigger bonus traders have.
Low spread or good bonuses?
With a lot of experience in trading, I consider that the trading conditions are more important than the bonuses. The bonuses may sound tempting but the fee, payment or transactions are the key steps for trading forex that affect more than the bonus. As a result, I suggest traders should choose the good trading condition brokers.
Can bonuses be really taken?
Of course, they can really withdraw the profit from bonuses or they are able to have the bonuses if required lots traded met
– First, to draw all the bonuses brokers ask traders to finish a certain amount of lots before they can have the bonuses. But it is quite hard when the number of required lots is quite huge. For example, for one lot finished traders get 5$ and the amount is kept to trade then after 10 lots required they can get the whole profit
– Or, brokers will not let you have the bonus amount but they allow you to have the profit from bonuses. With this policy, traders can even have to invest more for the deposit that the amount can reach beyond the bonuses.
Take advantages of bonus programs
Base on the policy of the brokers about bonuses, some people try to cheat bonuses from brokers. There are two common ways used for this purpose:
- Keep the rate winning with 50% by combining two accounts together and open more and more deposit to make a lot of bonuses. When you have the huge amount of bonuses then withdraw the amount.
- The other way is quite the same with the first one that is opening a lot account, and these accounts should be from the brokers with the high leverage to make the huge deposit. And to withdraw the amount of bonuses you need to with make two accounts be one with 50% of winning.
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