Welcome bonus, in general, is known as a kickstarter reward for traders, especially beginning traders to get used to the trading market. So, it is mutual for you to deal with a broker with your preference attracted welcome bonus packages. The topic today will cover my point of view along with my comprehensive experience of brokers with the best welcome bonus forex. Thence, I will give my personal review of those brokers.
1. Unbeatable welcome bonus bets –who are the best brokers?
I have dealt with number of various famous and leading brokers for years. Therefore, I have listed down the brokers that I think they offer some incredible bonus programmes. There are only 3 names, including XM, FBS and FXTM. It is detailed as below
Although there are 3 brokers mentioned, my most favourable is XM. They not only offer a wonderful welcome bonus package, they also have 100% new deposition bonus program.
2. Principle concept of a worthy Forex welcome bonus
As said from the beginning, our topic today is almost about bonuses. Therefore, I will present my 3 principles when consider about selecting a broker regarding to their bonus bets.
- Withdrawal policies – easy is better
Withdrawing bonus is an act that is strictly monitored by most brokers. In fact, honestly, it is impossible and inapplicable to directly withdraw your bonus reward. However, you are sure to be able to take out any profit earn by trading the bonus bet. Conversely, you have to be content with the certain policy that the lowest lot margin requirement. In particular, the specification of minimum number of traded lot of above-mentioned top dealers are listed below
- XM: this is the most affordable withdrawal policy. when trading with XM, trader only need to transacted 0.1 lot as a minimum traded lot for bonus profit withdrawal.
- FXTM: the second among top 3 is acquiring a lowest traded lot margin of 1 to satisfy profit withdrawal condition.
- FBS: it offer 123 programme. The welcome bonus of this program is up to $123. For each lot traded, you can take out maximum of $3. Let’s take an example. After 7 days trading, you earned $60 profit. If you want to withdraw all the profits, the minimum transacted lot is 20.
- Large bonus value
It is understandable that traders’ expectation of the welcome bonus value larger to be better. Among the top 3 listed above, the noticeable high value of welcome bonus is FBS, up to $123. Meanwhile, the other two almost introduce the same amount of $30 for a welcome bonus package.
- Broker of trustworthy
It is clear that you will only deal with suggested broker that is reliable and transparent operation. According to my experience, I prefer XM is the most considerable broker due to its trustworthiness and transparency.
3. Further options of bonuses
Along with welcome bonus, there are many other bonus options that most brokers implementing. The most popular are deposit bonus and Lot back bonus ( Loyalty Bonus)
- Deposit Bonus: this is an option relying on you deposition money. You can earn more capital by basically depositing more capital
- Lot back bonus or Loyalty bonus: most of expert savvy on this bonus offer. This programme will spontaneously refund an amount of money on each transaction into your account.
For example: each lot you complete trading on XM, which the spread of EUR/USD is 1.4pip, you will be refunded $3. In other words, you spend $11 as per EUR/USD lot, $3 less than the original total spread.
4. Taking out bonus profit – is it possible?
The answer is yes but terms and condition applied. As mentioned previously, strict policies follow the act of bonus profit withdrawal. There are two common condition used by most brokers.
- The need of Completed transacted lot
Looking back at my example and explanation above, basically, if you want to take out the gained bonus the minimum number of transaction have to be completed. There is other negative impact of this condition. The fact is that whether the traders want to withdraw the bonus, they have to deposit more capital than to bonus itself to be done required trading lot.
- Indirect withdrawing bonus applied
Direct bonuses withdrawing is strictly controlled, either welcome bonus or deposition bonus. This policies is to avoid cheating. Without these policies, there are number of cheated and exploiters will take beneficial gain for their self-interest and earn profit themselves.
5. Considering wonderful bonus and low spread – which broker is more reasonable?
Initially, a low spread offer broker is not a favourable option for most traders as they prefer a wonderful bonus offer. However, trading need to consider a long-term strategy. Honestly, brokers with low spread offer is generally better in terms of their trading environments provided. Therefore, the most considerable perspective in choosing brokers is their trading platform. In my point of view, I always prefer a broker with standard above the basic level. I only trade a large capital with those brokers.
6. 4 incredible Forex bonuses
I have done some researched about bonus programs among the leading brokers to find out the best one. Hence, I have a list of 4 best forex brokers in the world with wonderful bonus offers. This list is narrowed specifically as below
- Leading in Welcome bonus – XM: $30 package
- Best Welcome bonus – FBS: $50 offer
- Top of deposit bonus _ XM: 100% deposit bonus
- Lot Back Bonuses – Exness: $2 rebate for every $16 lot
7. Trick method to exploit bonus offers
Although the idea of cheating is immoral, there is a need to do so. There are two suggested method widely used. Both of them require an involvement in creating multiple accounts. The idea of this exploitation of bonus program is explained as follow
- Hedging: with 2 newly created account, the strategy is to have one account always wins whilst the other always lose. The idea is to ensure a win rate of 50%. This strategy is only applicable for loose withdrawal conditions
- Second, almost similar to the previous one, you take advantage of high leverages by open very large position. This trick is recommended to practice with high leverages brokers.
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