Forex bonus is a gift or present given by the Forex brokers nowadays as a promotional tool to increase clients for them. the bonus have many different schemes.
Forex Bonus schemes:
1- Forex bonus no deposit:
A Forex bonus which is rewarded by the Forex broker for doing almost nothing, you just need to sign up and open new trading account then verify your account with your personal ID/Passport and Address proof. after that you will get the bonus to your account.
Of course you can not withdraw this bonus without doing anything! there is some brokers will ask you to trade certain amount of Lots to withdraw the profit or the bonus plus the profits. some decent brokers will let you withdraw the profit without the Lot requirement.
The Lot requirement is good way to know if your broker is cheater or not, if you notice that your broker is giving you for example 30$ as bonus and asking you to make 30 lots to withdraw (some sets max. active orders 2 + leverage 1:100) so be sure that the broker you are working with is poor and stingy broker which will not let you withdraw single penny with this incapacitate rules.
2- Forex bonus on deposit
The Forex bonus on deposit is another promotional way for Forex brokers, but in order to get it you will have to make a deposit from your own funds to get it.
Same as the Forex bonus no deposit, you will not withdraw the bonus without doing anything! in order to withdraw this kind of bonus, in all the cases you will have to trade certain lots to withdraw the bonus. and the more bonus you will get, the more lots you will have to trade.
The deposit bonus is a good way to increase your Margin while trading with your own funds, which means more orders and flexibility while trading but be sure not to lose your own funds while having opened order, or you will suddenly get your orders closed on loss, cause the majority of the Forex brokers doesn’t allow you to lose any cent from the bonus, while very few number of brokers allows that.
Why Forex brokers gives free money ?
Well, its not free money. actually not all the brokers gives you the “No deposit” as “free real money”!
How is that ?!
Good decent Forex brokers will give you the no deposit bonus as “free real money”, they will deposit it to your account as real deposited money, when you trade they will make money from the spread you generate while trading, and any profit you make will be yours via the real market, so they dont pay anything more than the deposit.
Poor scamming Forex brokers will give you the no deposit bonus as virtual money and will let you have access to their “Dealing Desk” as known as”Market Maker” so you lose all the bonus and they pay no money. if you are lucky you will be able to catch some profits from them, but dont expect to gain much.
Why Forex brokers gives Forex bonus ?
As i mentioned before, the Forex bonus is good marketing technique to increase leads and sales for Forex brokers. its easy and fast way to attract many clients as many as possibles, cause everyone loves free stuff! so it wont take much effort with Ads and marketing strategies. they just post on their website and watch the leads rolling!
As you can see, a website Redz85.com and many other websites is tracking all the Forex brokers websites all the time to write about its bonus as its very wanted by many Forex traders nowadays.