Thousands of investors are now moving into the Forex trading and this is all because of the tempting bonus schemes offered by the brokers. There are different types of bonuses being awarded to online traders. Most of the Forex brokers offer these bonuses to the participants in order to attract new traders and reward the existing members so that they can invest more. Forex brokers from all over the world are offering exciting bonuses to the people who have a Forex account with them. People are taking advantage of these really amazing bonuses.
Here, we provide you the detail information about the top five types of bonuses offered by the brokers.
Sign Up Bonus or Welcome Bonus
You can become eligible for welcome bonus, once you make an initial deposit with the broker. Its range lies between 15% and 50% of the initial deposit. It is considered to be the best marketing tools which are used by the brokers. It is also called sign up bonus and the main thing about this bonus is that it increases the amount of money which you have invested. Let’s suppose that if you invest amount of $1000 and you received a 30% bonus then you have $1300 in your Forex account which you can further use to make more money.
Refer a friend Bonus
It is always the prime focus of the brokers to attract more traders. For this purpose they offer a special Bonus called ‘Refer a friend Bonus’ through which you can win bonus by inviting your friend to the business by using a referral program. If your friend creates an account and invest money in that account then both of you will receive a special bonus. But there are some terms and conditions are associated with this bonus scheme which restrict you from withdrawing the money until you play for a certain amount.
No Deposit Bonus
It is one of the most tempting bonus schemes. It is the best way to test the platform of the broker. You can also experience the real trading here without having the fear of losing the money. You need not to deposit a single amount from your side in this bonus scheme. This bonus can be withdrawn only if you reached the terms and conditions specified by the broker.
Deposit bonus allows you to boost up your money in your account. In order to get this bonus you first have to make an investment. Brokers offer such bonus to attract more members with real money. Traders get this bonus only when he first deposits on the trading platform of the broker. The bonus amount fixed by the broker can be in any form either it is a fixed amount or a fixed percentage. This scheme can raise your investment.
Many brokers conduct Live or Demo account contests for their traders. The traders who reach at the best level win a prize. Some extra funds are transferred into their accounts or are given as money.