Many traders have misunderstandings of various aspects of bonuses so this article helps you have clear knowledge of bonuses, especially welcome bonuses. When mentioning the bonuses, we often think of money or benefits from it. However, there are still some obstacles to get these benefits for ourselves so traders should research and find out what they should practice with aspects of bonuses. Although there are several kinds of bonuses – welcome bonuses, deposit bonuses and lot back bonuses, welcome bonuses are most popular so in this article I will focus much on this type of bonuses – non-deposit bonuses. If you have concern about this type, let’s read until the end of this article.
So what is welcome bonus?
Welcome bonus is the amount of money that brokers offer to new registration on their system. This is the method that brokers often use to attract more traders but these brokers are not reliable enough for beginners so you should learn about these brokers before starting to cooperate with them. Meanwhile, traders also get their own benefits from the best welcome bonus forex. They can use bonus to test brokers’ trading conditions and try out their trading strategies. For this type of bonuses, traders also hack up accounts to get more profit than normal by creating as many accounts as possible.
- Standards of good welcome bonuses
To be a good welcome bonus broker, they must possess these below criteria to prove their qualification
- Easy withdrawal conditions: Brokers give some regulations to allow traders get their bonus profit. The best forex brokers 2019 normally don’t allow traders to get bonus, but its profit. The requirement of minimum number of lot traders are very popular among brokers, which often leads to traders’ losses. Because traders try to complete the required lot trades but the investment money is over the profit that they will receive later.
- XM has the easiest withdrawal condition in which traders only need to complete 0.1 Lot to withdraw all profit.
- FXTM is the second easy withdrawal condition. Traders have to complete 1 lot to withdraw profit.
- FBS has 123 bonus program. Traders can get up to 123$ welcome bonus. For each trading lot, you can withdraw 3$ profit. Example: After 7 days trading, you won 60$. In order to withdraw that 60$, you have to trade at least 20 lot.
- High welcome bonus value: The welcome bonus within 30 – 50 dollars is very little, which is only suitable with small traders or beginners. They use bonuses to check brokers’ qualification and minimize the trading cost as well. For bigger traders, if the bonus is too little, they tend to ignore the bonuses because they invest the large amount of money with big funds so their trading cost is also high. If you are about to find the best brokers with high welcome bonus value, below brokers is very good for your reference:
- FBS offers the highest welcome bonus Value: 123$.
- XM and FXTM offer the same welcome bonuses value: 30$
- Reliable forex brokers: Choosing the best forex broker is not the effective way for traders. To secure that you have the right choice of your broker, it is important to choose the reliable forex broker first then you can consider its welcome bonuses. A reliable broker must have good local supports, native languages and convenient payment methods.
XM is the most reliable forex broker among 3 above brokers. They are also the best forex broker for beginners.
- How to choose the best forex welcome bonus brokers:
To help traders easily choose the most reliable forex welcome bonus brokers for themselves, I list down below three steps for your following, which is helpful and convenient for traders as well.
Step 1: List down 5 best brokers which are suitable for you.
Step 2: Choose best forex brokers that have good welcome bonus program. Of course these brokers are very good. So if they have welcome bonuses, it is much better for traders.
Step 3: Trade and get as much bonus as possible.
- Ways to cheat welcome forex bonus:
Although there are many kinds of bonuses, traders only cheat welcome bonuses. With long years working with many brokers, I have used to cheat many brokers as well. I conclude that there are two popular methods as below. Traders can apply them as normal if you want to get more bonus profit. If you are just a beginner, you can apply below methods to get profit for decreasing their trading cost.
- First method: The traders need to create many new accounts to get welcome bonuses. After that, they hedge 2 accounts together. It means 1 account win and 1 account loss. So, they get 50% win chance. This cheating way can only be applied to brokers who allow traders to withdraw bonus profit without conditions.
- Second method: The cheaters also open many new accounts to get welcome bonuses. After that, they use the high leverage to open very big positions. They also need to hedge them with other accounts to make sure the win rate is 50%. For this type of cheaters, they prefer high leverage brokers.
- Top three best welcome bonus brokers.
In my opinion, there are many different brokers in the world. But only some of them are the best ones with best welcome bonuses. I list down here top three best brokers according to recent researches:
Among these three brokers, XM is more reliable broker. In addition, XM also offer deposit bonus at the rate 100%.
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