Forex brokers offer various choices of trading promotions so that they could attract more potential clients to join the forex business. One of the most common types of trading promotions that you could find is forex bonuses. Bonuses are the type of trading promotion that is very preferred by forex traders since bonuses could help the traders to get more profits and also give traders the opportunity to get more cash without using any investment. Forex bonuses could be categorized into several types such as deposit bonuses, no deposit bonuses, and welcome bonuses. To understand the difference between these bonuses, let’s take a look at the explanation below.
Welcome bonus is the type of bonus that is given to the traders when the traders start joining certain company in currency market. This type of bonus is usually given so that the traders could open the trading account that is provided by forex broker. The welcome bonus could be used based on the conditions that are established by the broker. Several forex companies provide deposit welcome bonus that is given to the traders as the first deposit on trader’s trading account. Other companies might offer no deposit welcome bonus instead. To get no deposit bonus, the traders should not make any deposit in their account. This type of bonus is very suitable for new traders since it offers experience for traders that can be very useful in future trades as its advantage.
The development of bonus offers makes forex trading becomes more alluring and attainable for new traders. Other type of bonus that could be accepted by traders is deposit bonus. This type of bonus is provided for traders who make deposit in their trading account. Deposit bonus can be used in trading as additional margin based on the conditions that are applied by broker. It’s impossible to determine whether deposit bonus is good or not for the traders since the value of this type of bonus will depend on various aspects such as the type of strategy that is used in the trading. Even though the value of the deposit bonus will be determined by many aspects, this type of bonus is basically a perfect solution for traders to get more profits while performing the trading.
Also read: Forex trading analysis
No Deposit Bonus
The most popular type of bonus in forex trading is no deposit bonus. This type of bonus is also considered as the best type of bonus as well. Among traders, this type of bonus is known as “free bonus without deposit”. Based on its name, no deposit bonus is the type of bonus that is given to the traders without requiring the traders to place fund in their trading account. Some brokers offer no deposit bonus that is available for withdrawing while some others might offer no deposit bonus in trading as additional margin. This type of bonus is considered as the most attractive type of bonus since it provides the opportunity for traders to earn profits without investments.
Forex market offers various choices of bonus. Each bonus works under certain conditions and offers different features. Due to bonus offers, forex trading becomes more alluring and attainable for traders. However, if you want to become trader who can get great profit, you should understand that bonuses are just addition in forex trading and you can become successful if you only depend on bonuses.
Also read: psychological trading