Everything You Need to Know About Forex Bonuses

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Forex brokers use deposit bonuses to entice traders to forex trading. With the help of deposit bonuses, they provide them with knowledge about trading conditions, account, trading bonus and welcome bonus to help their clients to make an informed decision.

In simple words, brokers will offer free money to their clients that they can’t immediately withdraw from the trading account.

Pros and Cons of Forex Bonuses

Pros:-

  • It allows trading with no risks
  • Forex bonuses will help to maintain the trading balance with modest funds.
  • You can use the deposit bonus to recover the cash deposits lost while trading.
  • It helps to adapt to the live trading environment
  • You can deposit a bonus to margin your investments in large trades.

Cons:-

  • Many brokers set complex terms and conditions
  • They limit the withdrawals of both profits and free bonuses.
  • Free bonuses will lead to higher expectations
  • They required to follow the terms and conditions

Different types of Forex bonuses

1.No-deposit bonus

It is a complimentary bonus without a deposit. Once the traders activate their live accounts on the platform, the brokers make the deposits to understand the live trading conditions and explore different options.

2.Initial deposit bonus

It is an additional sum credited to the trader account after making their deposit. They unlock a more significant deposit bonus if traders make an initial deposit bonus. It helps investors boost their trading account and use the bonus funds to set limits for their trades.

3.Welcome bonus

It is an incentive that brokers offer to entice new traders to sign up for their services. It comes in the form of additional points after meeting a certain spending threshold in a limited time.

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