Before 2017 draws to an end, have you asked yourself one potentially life-changing question? There may be quite a few of those questions which you could or should answer as it could pave the way for a much better 2018 and beyond. Often the most obvious answers, the one right in front of you, are ignored as the question is so complex that many believe it deserves a very complex answer. In some cases that may be very well the case, but in others the answer is rather simple and it takes one step in the right direction to get a life changing even in motion.
Why have you not started to trade forex? This is one question which, if answered, could make a very big impact from the the first step forward. While everyone may have a different spin on the answer, amongst the most common ones may be the likes of lack if knowledge about trading, lack of time to make available, a general distrust in something where one lacks the required information to make a sound judgement and in most cases the lack of capital to invest into the forex market. Those are all legit concerns, but none of them need to keep a new trader away from the most liquid financial market.
This post will focus on the last part of the above mentioned problems or reasons why many may shy away from opening a forex account; the lack of capital. In today’s world there are many who struggle just to get by as the synchronized global recovery has not lifted all boats; many feel that the Great Recession after the financial crisis has never ended and that prospects may be getting worse. This makes the necessity of another income stream vital which is where many enter the rat-race. Not enough capital to get started, but the need to get started to get the capital required.
Here is some good news for you: Even a small amount of capital can get you started so don’t shy away from small deposits. A series of smaller deposits is even better then one big deposit and in order to make this piece of good news great news, there are forex brokers who offer a forex bonus at registration which will grant you an additional boost. There are offers where you can get as much as 100% of your deposit amount. In other words, you make a $250 deposit and you will trade with $500. There are conditions attached to each deposit, so make sure you read them first before asking for it.
Sometimes you may come across a special offer such as a welcome bonus forex offer and if it suits you then go ahead and take it. There are some who advise against accepting a bonus from your broker as there is no such thing as free money. Before you agree with this blindly, here is a different look at this topic. Bonuses on forex deposits are ideal for serious traders who plan on operating an account long-term in order to create a steady income stream in order to supplement their salaries and one day even replace them altogether.
Here is an example of how a forex bonus at registration can be very beneficial. One of the most important aspects of succeeding as a trader, after having developed a proper strategy, is the build-up of capital in a trading account. Some traders may spend five to seven years doing so. The reason being is that a larger account will allow a trader to diversify and create a portfolio which will produce that monthly income desired. Forex trading requires time and while many may think that a 20% return on investment (ROI) per year is a joke, most professionals average single digits per year. It is a very big rookie mistake to approach forex trading with the mindset that the account will double every month from a few trades.
So each bonuses on forex will shorten the time needed to increase the account to the required size where 20% year will be enough in monthly income to supplement or replace existing salaries. One may be able to create such a portfolio in twelve to eighteen months which sounds much better than five to seven years. So a bonus is great if the trader plans to trade long-term and does not have short-term withdrawals in mind. Once the account is big enough and the earnings per month increase, asking for withdrawals is no problem at all and the ultimate goal. It is much better to be able to ask for a withdrawal at the end of each month while increasing the size of the account than to ask for only one. A bonus is not good for those with a short-term vision and hope for a quick payout, they are often those who scream foul when violating terms and conditions of brokers and bonuses.