Bonus is a competitive advantage for forex brokers. Brokers offer bonuses to customers and they are encouraged to trade. Bonuses have different types. One popular bonus is the no deposit bonus you don’t any payment for the deposit and bonus add your account. Another popular bonus is the first deposit bonus you deposit the amount and you get the bonus for the amount. Traders receive bonuses in addition to themselves getting to experience trade, they can get profit and there are not any losses. The bonus of the broker is good or bad?
Most of the time, bonuses are good! Who doesn’t like free stuff, right? I have a friend who opened an account because of like a $10 bonus in his account, and he’s been trading with them since. But I just hope that it won’t be the only reason for you to choose a broker.
they’re almost universally bad
most new traders will never manage to complete the number of lots traded to claim all the ‘bonus’ without blowing their accounts, and even those that do manage will have likely paid several times the ‘bonus’ in brokers fees/spreads
ethical, real brokers don’t use gimmicks of this kind, and don’t need to
the ones making such offers are counterparty market-makers relying on attracting a particular type of customer whose inexperience they know will make such offers look appealing to them; they understand very clearly that they’ll almost never actually pay out at all
their system is rigged to make it impossible for the customers to win, and that’s how they make their living
they’re targeting specifically the potential customer-group their market research has rightly identified as the people least likely to be able to trade profitably
the other words, the odds are stacked hugely in the broker’s favor
seeing bonus offers tells you that it’s a broker to AVOID
Bonuses are good, but most brokers that offer bonuses are scammers, and the bonuses offered by a good broker also have a catch to them in order to obtain the bonus.
It is better to trade with genuine, regulated brokers like CMC, Etoro, or FP Markets that provide some of the lowest spreads and commission costs.