How Forex Deposit Bonus Works?
Whether you are new in the business of trading Forex or you are an old timer who’s known almost everything about the business, you are still after one target; how to get a chance to win more money with the “little” money that you have invested in the trade. Getting such a chance can come from a sudden movement of the financial market or through extra cash that is sometimes provided by the broker you are registered with. One example of the extra cash that a broker may give to you is the Forex bonus. Forex bonus is, in fact, the most popular form of promotion that a broker can offer you in the Forex platform.
This article is written to expose you to everything you may need to know about the Forex deposit bonus.
Forex Bonus – General Overview
It is important that we talk briefly about the general Forex bonus before delving into a more specifics Forex deposit bonus. The deposit bonus is a smaller part of a larger Forex bonus. Since it is a part of the whole, it should posses all the features that the general bonus has.
Talking about the Forex bonus system simply means analyzing all the bonuses that are available in a brokers page and inculcating them into a whole. Although these smaller bonuses that are offered by any Forex broker may differ broadly in terms, conditions, value, and currency, they all seek to achieve trader oriented results. The different bonuses that you may find in brokers offer include: no deposit forex bonus, loyal costumer bonus, refer a friend bonus, cash back bonus, etc. All the different bonuses that may be offered by a broker are gifts. They are called gifts because you don’t pay money to get them, although there are certain basic requirements you need to meet before activating each one. The requirements are completely dependent on the terms and condition of each. Every Forex company decides what bonus to give.
The name of the bonus most often suggests the requirements to be fulfilled before the bonus can be triggered. For example; the refer a friend bonus often requires that you get your bonus according to the number of referrals that you can draw. It is important to understand that every bonus offer can only be used on the platform of the broker that offers it.
Forex brokers always imbibe Forex bonus system policy as a way to increase their audience level through attractive special offers for new comers and as a way of maintaining the current number at clients that are already subscribed to the broker. Maintaining current customers can be done through special bonus systems that are geared towards rewarding customer loyalty.
Forex Deposit Bonus
As a form of incentive to attract new customers to a Forex broker, the new customers are often offered with a reward from the website. In many of such cases, the reward is tagged as “Forex deposit bonus.” You should understand however that this kind of bonus is not exclusively provided for only new customers. Conscious efforts are made to retain old customers too, and as such, promotions like this is made available through the whole activities of the platform. The basic requirement of the Forex deposit bonus is that a trader (whether new or old) makes deposits. You must deposit to be able to activate the offer of a Forex trade bonus.
The deposit bonus is usually calculated in a particular percentage of the deposit you make. The deposit bonus often ranges from 20% to 100% of the deposit made, depending on the terms of the broker, although the 100% bonus is in most situations available on first deposits while bonuses on subsequent deposits will range from 20% to 50%.
This signifies that as a new comer, you get a bonus that is exactly the amount of money you deposited.
Types of Forex Deposit Bonus
Of course, the concept of Forex deposit bonus is broad in its self and as such is classified into different types. Here is some detailed explanation of the types of deposit bonuses that are available in the industry.
First Forex deposit bonus
Like the name denotes, this deposit is only applicable to first deposits of newcomers. You can only activate this bonus after you have completed registration to become an official customer of your chosen platform. Before registering on a platform, customers are advised to check and be sure that their country is not limited to the trading page. After filling in all required personal details and creating an account, choosing the currency to manage your account and verifying deposit method, you are then required to make a bonus and receive your first-time deposit bonus. This bonus can only be used once.
Ongoing Forex Deposit Bonus
This type of bonus is regular and quite popular among brokers. The bonus is introduced to maintain customer loyalty as well as coerce them into making constant deposits. The bonus is particularly given every time you make a deposit, with the amount you deposit dictating the bonus you will get.
Forex Deposit Bonus For Regular Customers
This is a more advanced type of deposit bonus and is e way of rewarding people who often make deposits to the platform. This type of bonus attracts higher percentage than other types to provide specially for clients that have remained active on the platform for a particular period. This bonus system is geared towards retaining the platform’s most active investors.
Finding The Best Forex Deposit Bonus
Finding the best Forex deposit bonus is logically the next step to be taken after you’ve understood everything you need to know about Forex deposit bonus and its type. You will have to focus your search on platforms that offer the best Forex deposit promotions.
Here are a few tips that will help you in your quest to getting a perfect Forex deposit bonus.
- Almost every broker offers a Forex deposit bonus. Each broker fixes a bonus percentage at his discretion. There is a huge possibility that you will find a platform that has a higher reward system when you change platforms.
- By seeking expert service and advice from pros in the industry, you can get pretty good recommendations that will pay you real good.
- Use google search to find Forex platforms that offer the best bonus system that will suit your personal goals.
- Take stroll round blogs and social pages to join forums were financial trading issues are discussed.
- Use websites that will get you familiar with the best Forex deposit bonus offers.
Forex trading bonus serves as a stimulant to both old and new customers. It is a strategy to gain market penetration as well as maintain the market lead.