If it’s a waste of time, there would be no point in accepting the bonus in the first place. I think these brokers just do this as an incentive to encourage traders.
Indeed it’s basically used for marketing purposes, but well no-deposit bonuses are good option for newbies to start.
Exactly, whether we believe it or not we can definitely benefit from bonuses. Even if it might not come in full depending on the broker of course, but it’s something we should accept when provided.
Some brokers are playing around those accounts which applied for bonus. But you need to make sure you have learned its terms and conditions before applying. But yes there are genuine bonus and walked the T&C matters. No one is giving you direct bonus unless followed some conditions. LMFX is currently running two distinct promotional offers . With the Deposit Match Bonus offer, new clients who make a minimum $100 deposit will be eligible for a 100% bonus on the deposit.
Many brokers offers bonus and various types of bonus like rescue bonus, deposit bonus, etc. Naming some brokers like turnkey forex, ic markets, coinexx, hot forex, etc.
Have you tried any of them? How long have you been trading with them?
The use of incentives like bonuses is banned by the regulatory bodies in the EU and UK.
For CFD providers that do still offer such incentives, they are probably operating somewhere that has little to no regulation, which means no protection for their account holders. Check where they are registered and domiciled.
A CFD provider may offer a deposit bonus (e.g. 50% or 100% of deposited funds). While the bonus
credits are available to you for trading, they typically can’t be withdrawn from the account until predetermined conditions are met.
For example, the aggregate value of trading you must do in the month after the bonus credit was granted exceeds 5,000 times the amount of the deposit bonus.
Be leery of such CFD providers.
I am now with a broker who gives 60% of the bonus?
Hotforex: They offer trading without investing your own capital. It’s called the $50 no deposit program.
Turnkey Forex: They too offer a 100% deposit trading bonus.
IC Markets: A $50 bonus from commissions is offered.
Actually you’ll find that many brokers offer such promotions but make sure you have other important criteria such as leverage, spreads, commissions, before you finalize on one or two brokers that you would want to go ahead with.
Many reputed brokers like Fxview and XM do. While XM gives $50 no deposit bonus, Fxview provides $100 no deposit bonus. They both offer tight spreads which facilitates profitable trading.
A lot of brokers do, you just need to locate the brokers with least number of terms and conditions required to avail this bonus. Give [removed for forums policy violation] and Fxchoice a try. They offer upto 200% bonus amount of the amount you deposit.
XM Global in my opinion offers the best bonus as it is very simple with no complicated conditions. It’s 50% up to $500 then 20% up to $4500. NON WITHDRAWABLE and can only be used as credit to protect your account. If you make a withdrawal a proportional amount will be removed as well from the bonus.
There are brokers I’ve traded with that offer bonus but as an added margin to boost the trades. I couldn’t lose or withdraw the bonus. The system stops out the positions once the account nears the losing bonus amount. In a way, it helped me trade with more margin which was enough to make some good profits.
You have to be careful before selecting a broker offering bonuses. Most of them are scams.
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Yes, there are some brokers that offer bonus ro attract you to trade with them.
Bonuses are often utilised in exactly the same way a casino bonus is. They draw you in but then require you to completely overbet/overtrade in order to release any funds which normally cause the main target of their drive (newbies) to blow their accounts. They then have you hooked.
I must say don’t go with brokers offering bonuses. It’s like having higher leverage, you can’t withdraw the bonus, but you tend to increase the trading volume that can magnify your profits/loss.
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Honestly, stay away from broker bonuses - they are a scam.
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I’ve heard a lot of brokers provide bonuses to their clients. You can look for a bonus specific broker as well. But try to be very careful and trade only with reliable brokes.