What is Forex Welcome Bonus？
A welcome bonus is a one-time bonus exclusively offered to newly registered accounts. Usually, a no deposit bonus that doesnt require initial deposits to be earned. It is one of the most popular types of forex bonuses. However, not many brokers offer an unconditional welcome bonus.
A deposit bonus is a popular promotional deal in forex trading. It means that the broker will gift new accounts with a bonus with no initial deposit required. No deposit bonus is usually a small amount between $10 to $100, and it is considerably smaller than the deposit bonuses. The deposit bonus, on the other hand, maybe offered as a percentage of the total deposit amount.
Free Forex Welcome Bonus
The free Forex welcome bonusis typically a fixed value. This type of bonus is not usually a big one. The funds are credited to the bonus account directly after a trader opens the account. These funds allow the trader to open trades freely. However, certain requirements must be met before the trader can withdraw this money. Usually, a bonus account does have the same trading requirements as the standard forex welcome bonus, but with no deposit requirements.
How to Receive a Forex Welcome Bonus？
To receive a welcome bonus, you need first toopen a forex accountand verify your account with personal details. The next few steps will vary according to the welcome bonus requirements. In case of a no deposit welcome bonus, you will receive it right away into your account after you open it. However, in case of the welcome bonus requires a money deposit or trading requirements, you will have to meet these requirements first by depositing or trading some lots before you are able to receive your bonus.
Advantages of Welcome Bonus
Forex welcome bonus offers some trading advantages that include providing additional funds for the clients to trade with. This is usually encouraging for new users and those who cannot afford to deposit a large amount. In the case of a free no deposit forex welcome bonus, the trader is provided with an opportunity to start trading on a live account, exploring the market and then make a deposit. Some brokers allow traders to withdraw the bonus funds depending on several conditions.
However, a welcome bonus may have some disadvantages as there are often several conditions for the forex welcome bonus to be earned, which create some limitations for the traders. Also, withdrawal of bonuses can be allowed only after the trader meets certain requirements. Trading with the forex welcome bonus generated different emotional reactions and magnify the risks of emotional trading which may lead to irrational trading decisions.
Be aware of Bonus Scams
Some untrusted brokers may try to attract new and naïve customers by giving away valuable gifts. Many can offer traders smartphones and similar gifts for deposits. But this is not how the forex bonus work. What is the benefit of sending clients expensive items right after they have opened an account？ Such brokers arent interested in building a reputation, so they will accept negative feedback.
Dont get tempted by forex brokers that offer double or triple your deposit amount. These bonuses usually offer you nothing in return. Such huge bonuses are simply used to trick you into increasing your leverage and blocking your withdrawals so you will have to take risky trading decisions. It is important to know that most large bonuses are usually not available for withdrawal. And trading conditions attached to them are usually hard to achieve, especially when a trader sticks to properrisk managementpractices.
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