A forex bonus can be an excellent way to boost your account balance and give you a nice head start in the world of foreign exchanges like revolut, but there are many different bonuses out there. Make sure you find one that offers the most value for you.
Bonus offers are the best way to get started in Forex trading. These offers are highly beneficial for both new and existing traders and can be used to offset losses and add to profits if handled correctly.
Type Of Account To Qualify For Bonus
In order to qualify for any kind of bonus, you must first open a trading account at a forex broker. The type of account that you open determines which bonuses are available to you. Most brokers offer two different types of accounts: standard and mini accounts. A standard account is designed for active traders and requires a minimum deposit of $250-$500 just to open an account. A mini account is typically for beginners and can be opened with as little as $1-$100.
When choosing between these two account types consider your level of experience and how actively you plan to trade. If you’re a beginner or novice trader I would recommend going with a mini account as it doesn’t require much money upfront and has low trading requirements, allowing you more flexibility. The ic-markets offers standard, Demo, Raw Spread, cTrader, Islamic account types.
Finding The Best Forex Bonus
Finding the best forex bonus can be a daunting task and it is easy to get lost in the sea of forex promotions. To help you find the best forex bonus, we have compiled some useful tips that will lead you in the right direction. Follow these 10 tips to help you find the best forex bonus.
Here are 10 tips for finding the best forex bonus possible:
- Find a broker you trust and stick with them. If you’re going to trade, it’s important that you feel confident about your broker because this will help to alleviate any fears or concerns that might otherwise hinder your trading.
- Try to trade FX through a reputable broker rather than a third party. This is especially true if the broker is not regulated, as they may have ulterior motives in offering a bonus and might be more likely to pull something shady on you when it comes time to withdraw your profits.
- Make sure that the bonus is large enough. There’s really no point in accepting a $20 bonus if it will take $2,000 of trading profits before you break even! What’s worse is accepting a bonus that’s worth less than it appears because of high rollover requirements or other hidden conditions attached to it!
- Be aware of the minimum deposit requirements for each broker’s bonus and choose one that is suitable for you.
- Read the fine print when signing up. Some brokers require traders to trade specific pairs or types of currency in order to receive their bonus, while others have time-sensitive bonuses that must be used within a certain period of time or else they will expire and become invalid.
- The higher the leverage you apply, the more risk you take on your account, so make sure you understand the risks involved with increasing your leverage before doing so.
- Do not open multiple accounts at multiple different brokers just to try and complete the requirements needed to receive a bonus. It is much better to have one account with a regulated broker that meets your needs than it is to have several accounts with different brokers who could potentially scam you out of your money.
- Look for the best currency broker that matches your trading style, risk appetite, and goals. This will make it easier to find the best bonus. If you are an aggressive trader looking to make big profits off of small price movements, then choosing a broker offering tight spreads is important. A tight spread denotes how much the broker charges you for trading in currency pairs—the lower the better!
- Choose a bonus that is easy to fulfill or has no requirements. Some bonuses require you to trade a certain amount of times before you can withdraw your money, while others have additional conditions such as meeting specific targets or maintaining your account balance at a certain level.
- Consider the length of the offer:
The most common type of forex promotion is what’s known as a welcome offer. This can come in two forms:
- a) A cash bonus – this is usually worth a set percentage of your initial deposit or perhaps a fixed amount.
- b) A no-deposit bonus – you get free trades but without having to deposit any funds at all.
Welcome offers typically last for around 60 days, but many brokers will extend them if you refer a friend and get them to sign up too.