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Bonuses in Forex Trading
Written by: PaxForex analytics dept - Tuesday, 28 February 2017 0 comments
Several forex, binary options and commodities brokers are giving away generous bonusesnot pegged on initial deposits to new accounts. These offers are really great for the ones that are just starting with the currency trading, and are not yet ready to commit their own funds. Instead of going for a practice account, with a no deposit bonus it is possible to experience the feeling of winning and losing.
One aspect of trading forex online is that there is a lot of competition between all forex brokers, and as such each of them will be prepared to offer you all manner of different incentives to get you to sign up to their respective sites. The most common way for a forex broker to attract new customers and clients if for them to offer all newly registered users of their brokerages to be able to claim a bonus when that customer makes their very first deposit, and this type of incentive is known as a welcome bonus.
Generally, it is a good idea to start first with a no deposit bonus in order to test the services of the broker and most importantly the execution of transactions. Furthermore, it is of great essence to check how well the support team of the particular firm is handling your questions and
requests. This is in essence, the first step towards find a good and reliable broker according to your specific trading needs and desires.
Obviously, no forex broker would allow you to simply withdraw the bonus without fulfilling certain conditions. In most cases traders should trade a certain volume in order to be able to withdraw. The amount you can get is usually only the profits that were made from trading with the bonus. On the other hand, there are also brokers that will allow the bonus to be withdraw given a certain volume has been traded. Furthermore, it is important to mention that most brokers would state a specific time frame during which you would be able to use the bonus.
Some forex bonuses are really amazing and they can double or even triple your trading results with a needed capital boost. However, others are just projections, smoke and mirrors, and can signal the presence of a forex brokerage scam. That is why it is so strongly recommended to consider the reliability and safety features in a trading platform. If it is really trustworthy or it is owned by a well-known and properly regulated company, there is usually nothing to worry about concerning bonuses.