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How to grow your forex account?
Written by: PaxForex analytics dept - Tuesday, 03 March 2015 0 comments
The obvious answer is to make a deposit, but this is not the only way you can grow your forex trading account. Making a deposit should be your first step and for most traders that is how you start which is also the most efficient way to get started, but there are many new traders who may not have sufficient funds and making a sizeable deposit is not possible for them. No need to give up just yet as there are other, less efficient ways to arrive at the goal of having a funded forex trading account.
Let’s stick with the deposit method for a few more moments. Many forex brokersoffer a deposit bonus which means each time you do make a deposit your forex broker will give you a pre-determined bonus, for example a 30% bonus. This is a nice tool for forex traders who do not wish to make a withdrawal, but are rather focused on growth. Most forex traders should not even think about making withdrawals in order to grow their account. One of the biggest mistakes of new traders is not to be patient in growing the size of their forex portfolio.
Forex brokers often offer promotions which you should take advantage off. Those promotions can be as simple as writing a review which will be rewarded with a deposit by your forex broker into your forex trading
account. This can boost your deposit and forex traders who do not have all the funds should definitely watch out for those promotions. Sometimes you can even write your broker and if you have a well visited blog or website make the offer for a review which you will distribute to your readers an across your social media channels. Many brokers will credit you for a job well done.
A more passive way to earn money from the forex market which you can then use to trade actively is by becoming an affiliate of your forex broker. You can sign-up and your forex broker will provide you with a back-office filled with material which you can use to attract other forex traders to your forex broker. When they make a deposit and start trading you will receive a percentage of the money earned by your forex broker which can then be credited into your trading account. The more traders you attract and the more they trade the more money you will earn every month.
The preferred way, after you make your first deposit, is by growing your funds by trading forex. There is no substitute for this if you want to succeed as a forex trader. Depositing money should be viewed as a start-up capital, but the goal is to grow though trading. This will take time during which the above mentioned methods can not only help out a new trader, but supply the necessary fuel to keep the forex machine operating. As you see there is no reason not to start trading forex as it has never been easier!