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Forex Bonus - The Alluring Factor
Forex bonus is the incentive given to the new online traders to attract them. The Forex bonus is offered by the brokers. This bonus can be of different types. There are offers and promotions. Before you select any offer, you must know the difference between each type of bonuses and which offer is best suited for you.
Rule of the Game
Usually, brokers offer quite generous Forex bonus for the first deposit. This bonus is also known as welcome bonus. When you have ventured into Forex trading, then it is taken for granted that you are mature enough to understand that nothing is available for free. You need to pay in order to get something. Brokers reward existing as well as new investors with cash bonus so that they are tempted to trade with real money and on regular basis. So, Forex bonus can be said to be a marketing strategy of these brokers so that you visit their websites and invest your money there.
Other Bonuses
Apart from welcome bonus, there are other kinds of Forex bonus as well. Loyalty bonus is one of them. This bonus is offered by the broker to make sure you keep trading with him. This is also a cash bonus usually paid on monthly basis. Sometimes you need to contact the support team in order to get the bonus. As the competition in this industry is increasing, brokers are more readily paying Forex bonus to retain the customers.
Beginners are also paid ‘no-deposit bonuses'. This is the smallest amount of Forex bonus offered to the new investors. For welcome bonus, you need to open an account with a particular amount of money. With this bonus, you are not required to open account with real money. The cash reaches your account, but sometimes you may require to claim it through submission form, trading platform or email.
When you are offered non deposit Forex bonus, read the terms and conditions minutely. Somewhere in that section, in minutest letters, there can be some hidden clause according to which you will not be allowed to withdraw your winnings without depositing a token amount. Or there can be a bar on the maximum amount that you can withdraw.
Misunderstandings regarding Forex bonus arise when the investors do not go through the rules and regulations with utmost attention. If you don't read the clauses properly, you can end up in a difficult situation with broker holding the amount on different grounds.
Referral is another way of earning bonus. Just inviting a friend would not get you cash. The referred friend must deposit money and start trading. Then, both you and your friend would qualify for a referral Forex bonus.
Current Picture
As the Forex trading is becoming popular, the Forex bonus is getting more innovative. Dealers have started prioritizing it over other factors. Yet before investing even a single dollar with any broker, review the deal carefully. An apparently innocent looking deal can take you to grave problem due to your sheer negligence.