To attract potential clients to the company, Forex brokers provide different trading promotions such as Forex bonuses. Bonuses are very popular among traders because they help to earn extra profits and some of them even give an opportunity to make money without any investments. All the Forex bonuses can be divided into groups: welcome bonuses, deposit bonuses and no deposit bonuses. So let's review each group separately.
Forex trading has become more attainable and more alluring for recruits with the evolution of bonus offers.
The welcome bonus is a bonus which a trader can get when he starts working with a particular company on the currency market. This bonus is given for opening the trading account with the Forex broker. The conditions under which the welcome bonus can be used depends on the broker. Some Forex companies offer the deposit welcome bonus which is given for the first deposit of the trading account. Others suggest the no deposit welcome bonus. It means that the trader should not deposit his account to get the bonus. The undeniable advantage of this bonus group especially for newbies is that it gives traders the experience which they can use in the future trades.
Another bonus group is deposit bonuses. Deposit bonuses are given for depositing trading accounts. According to the broker's conditions, deposit bonuses may either be used or not used as the additional margin for trading. It is impossible to say what would be better for a trader because it depends on different circumstances such as the trading strategy. However, the deposit bonus is actually a perfect solution for the traders who want to earn more while doing what they like. If the trader has decided to deposit his account and to start trading why not to get an extra bonu for this?
No Deposit Bonuses
Now let's speak about the most popular and even the best bonuses from the traders' point of view – no deposit bonuses. This type of bonuses is also dubbed as "free bonus without deposit" among traders. It is evident from the name that it is not required to fund the trading account to get the no deposit bonus. Some Forex brokers provide the no deposit bonus which can be withdrawn and some offer to use this bonus only as the additional margin for trading. Anyway, this bonus group is still the most attractive for traders because it gives an opportunity to earn without any investments.
As you see the Forex market is full of various bonus promotions and every trader can choose one of them for himself. Each type of bonuses described here works under some specific conditions and has its own features. Forex trading has become more attainable and more alluring for recruits with the evolution of bonus offers. But to become a profitable trader, you should remember that bonuses are only the addition for Forex trading and you are not able to reach success if you stop on them.
Bonus programs are provided under various conditions, and this gives you an opportunity to choose one based on the trading strategy which you prefer.