Different type of Forex Bonuses: traders need to know
Many forex brokers are available in the forex market, and they are offering bonuses in various names. But there are some common bonuses available
06 May 2021 01:40 PM
What is the Forex bonus?
Forex bonus is an excellent opportunity for traders to get some free money from brokers. There are various types of forex bonuses available in the forex market like forex no deposit bonus, forex deposit bonus, forex rebates bonus, etc. To get the bonus, traders need to pass some rules which are sets by brokers. In this article, we are going to discuss all of the things about the forex bonus.
What types of forex bonuses offer by brokers?
Many forex brokers are available in the forex market, and they are offering bonuses in various names. But there are some common bonuses available, and it is offering by 80% of regulated brokers. Let's try to explain the types of bonuses.
Forex no deposit bonus
This is the key opportunity to enter live forex trading without investing money from your own pocket. In that case, forex brokers are providing a few amounts of money to trade in the live forex market. It's a bonus for newbie traders looking to start their live forex trading without risk. The bonus amount could be $5/$10/$30/$100 etc. A lot of newbie trader's already gain in forex trading by using the no deposit bonus.
Forex deposit bonus
This is the most useful bonus for a forex trader. A trader can increase the trading margin to get more profits from the trading. Most of the brokers in the market is offering deposit bonus in percentage. In that case, the maximum time it's not for withdrawal increases their margin in trading.
Forex rebates bonus
Forex rebates bonus is providing based on trading. Brokers are offering this type of bonus to traders to trade more with their platform. It's an excellent opportunity for traders to earn extra money from their trades. To get the bonus, traders must complete the terms of conditions set by brokers.
Forex live contest
Although it's not a direct bonus, it's a competition between traders to win a big prize by their trading. Most of the professional traders are participating in this contest to win a big amount of prize money.
Forex demo contest
Forex demo contest is for demo traders, where demo traders can win real prize money or liquid money for trading in the live forex market. This is also an excellent option for newbie traders to understanding forex trading.