In general, welcome bonus forex is given by brokerage companies, both local and international, to promote the advantages that are being offered. These brokers are competing to offer bonus promotions that do not require traders who have just registered to deposit a certain amount of money into their account as initial capital. However, even so, it turns out that traders are allowed to withdraw the profits generated from trading on the platforms provided by the brokers
Of course, the provision of this type of bonus is very attractive to the desire of prospective traders to create an account and register, because usually, many broker companies require traders to deposit first before trading or opening trading positions. Giving this type of bonus will keep you excited about exploring the world of trading in the hope that it will provide promising financial benefits in the future
For those of you who want to know more about well-known brokers such as IC Markets and IC Markets Minimum Deposit, traders union is the key. Those of you who are still beginners are guaranteed to have a further picture of how to do forex trading properly and correctly
Benefits Of Getting Welcome Bonus Forex
As explained above, the purpose of this bonus is to get rid of the doubts of potential traders to make a trade for the first time. The following summarizes some of the advantages of getting welcome bonus forex as below:
- You will be allowed to trade in real-time even though you have not made an initial deposit to your account, because the bonus will be used as your initial capital to try trading. Here you will be allowed to trade on various types of financial instruments, such as stocks, forex, commodities, CFDs, etc. as you wish.
- You will be able to learn a lot from your experiences and mistakes in trading, for example in choosing and determining strategies without any fear of losing your real money.
- You will make this trade using real money provided as a bonus by the preferred brokerage company, where you can also get real profits that can be withdrawn to your account and or can be your capital to trade in the next stage.
How To Get Welcome Bonus Forex?
Now the question that arises is how can you get welcome bonus forex?
Maybe many of the novice traders, in particular, feel indecisive about the world of trading because it contains a lot of risk of financial loss. They may have heard in the numerous successes and failures of trading knowledgeable by neighborhood and international traders.
According to a study, only 10% of brokerage firms give this most eye-catching form of bonus. As for the amount of the deposit which is given totally free, it’ll rely on the policies of every single broker. there are even some brokers who dare to give this welcome bonus forex of up to the US $ 5,000. However, the average bonus offered by brokerage firms will be US$ 30, US$ 50 to US$ 100.
You are required to have a verified account, to get this bonus. This means that you must first register by filling in complete and accurate, personal information that is still valid and valid until now, including your e-mail address and mobile number. Additionally, to registering, you will also be asked to attach a citizenship document that explains your national identity, it might be a passport document or possibly a national identity card.
That’s why broker companies call this type of bonus welcomes bonus forex for traders who have successfully created their accounts.
welcome bonus forex promotions are usually only given for one verified account and are generally given only once when you have created an account. When you have already received this bonus, then you definitely will probably be allowed to obtain other kinds of promotions held by the brokerage company of option.
Terms And Conditions For Claiming Welcome Bonus Forex
Undeniably, when offering welcome bonus forex, brokerage companies will issue several trading conditions. The following are the provisions and rules which have been summarized as below:
- Some brokers restrict traders from opening orders with large lots. Usually, the allowable lot size is 0.01 only. This of course will discourage the traders, but on the other hand, this is an effective method by these brokerage companies to make traders last a long time using trading facilities.
- Some brokers will limit their clients to having many active positions taken simultaneously.
- Some brokers will limit the choice of forex/foreign exchange instrument pairs.</li>
- This type of bonus will also be canceled if it has reached expiration.
- Not allowed to hedge or open 2 (two) trades in different directions. For example, you open a buy order for GBP/USD at 1.3000, but shortly after, you open a sell order at 1.2950. That is what is called hedging.
- It is not allowed to do scalping on trades, wherewith this method, you will trade several of you on one day to get a small profit.
- It is not allowed to use expert advisors or also known as trading robots, which aim to facilitate the trading process from the beginning to the end, including opening and closing trades, generating tradable signals, analyzing market conditions using indicators, etc.
- According to research, prospective traders from 12 (twelve) countries are often offered this type of bonus, namely South Africa, Indonesia, Malaysia, Vietnam, Brazil, Turkey, Egypt, India, Nigeria, Poland, Czech Republic, and the Philippines.
Wrapping up
Based on credible research, Choosing a trusted broker that provides this bonus is a challenge for prospective trades. For this reason, you are advised to research carefully the various brokerage companies that have a positive reputation and clear and transparent regulations.
The brokerage companies mentioned by the traders union can be considered for you before trading on various types of financial instruments because they have received international recognition from millions of traders from all over the world.
