April 13, 2024

Business Bib

Business & Finance Blog

WHY ARE WELCOME BONUSES SO ATTRACTIVE?

4 min read

It may be asked why the welcome bonuses are so attractive with these following questions: Does it have the highest bonus value? Is is easy to withdraw the bonus profit? Or is there any trick to earn even more profits from the best welcome bonuses? This article is to explain more about welcome bonus and also show some criterions for best welcome bonus programs to choose.

  1. Best welcome bonus programs

XM

FBS

FXTM

With many years of experience in forex market, the list above is the writer’s recommendation for the best brokers which offer the greatest bonus programs. But above all, XM is considered the best thanks to its excellent bonus program, great service and 100% bonus offerings on new deposition.

  1. Criterions for best welcome bonus programs

Simple withdrawal conditions:

It is commonly unable to withdraw the welcome bonus but it is still able to obtain the profits bonus, which might be difficult. There are conditions for withdrawal given by most brokers, whose requirement is mostly a specific number of completed transactions. For more detail, it can be seen below:

  • XM has had the fairest withdrawal conditions, which require only 0.1 completed lot before traders could obtain their profits
  • FXTM has had the second fairest conditions, which require 1 completed lot for profits withdrawal
  • FBS, whereas, has the highest welcome bonus ($123), which is also called 123 bonus program. It allows a profit up to $3 for each completed lot. For example, the profit after 14 days trading is $120. Then it requires at least 40 completed lots to obtain all the profits.

High bonus value:

The highest bonus value is often the most attractive, especially the welcome bonus. Among all those brokers, FBS has the most attractive bonus value, while XM and FXTM offer the same bonus (up to $30)

Reliable forex brokers:

The trusted and reliable brokers are often preferred when choosing a broker to work with. Its credibility could indicate how well it operates and how great its service is. XM, by far, has been one of the largest and most reliable forex brokers not only with best service but also the transparency.

  1. Other kinds of forex bonuses

In addition to welcome bonus, there are 2 more types of bonuses which have some differences in their features: deposit bonus and lot back bonus.

Deposit bonus: is given whenever there is a deposition. Commonly, it is based on the amount of deposition that brokers will give you an amount of bonus. The more the deposition is, the more the bonuses are.

Lot back bonus: as known as loyalty program. This is mostly for experts and professional traders as it reduces a huge amount of cost. When a lot is finished, a bonus will be rebated automatically to the account. For example, XM’s spread for the EUR/USD currency is 1.4 pips. You are supposed to pay $14 of the original spread for each EUR/USD lot. However, as the rebated bonus is $3 for each completed lot, you have to pay only $11, which reduces a significant amount of transaction cost.

  1. TOP 4 GOOD FOREX BONUSES

These are the top 4 best forex bonuses that are highly recommended for its advantages:

  • Best welcome incentive – XM: 30$ welcome incentive
  • Best welcome incentive – FBS: 50$ welcome incentive
  • Best deposit incentive – XM: 100% deposit incentive
  • Lot Back Bonuses – Exness: Rebate 2 – 16$ per lot => Exness reviews.
  1. Should we choose good bonuses or low spread?

It depends on which types of traders you are that you should choose a broker whether with good bonus or low spread. If you are a scalper, spread is your highest consideration because of your great number of transactions, then, low spread broker should be preferred. If you are a beginner and your aim is to get well with the trading system and forex market, bonus is a good start for you to trade and have experience. Overall, considering to long-term in business, it should be with brokers which have the best trading conditions, excellent services and great credibility that we work.

  1. Tricks to earn more profits from welcome bonuses

In general, there are 2 cheating methods used popularly, which are mostly based on creating as many accounts as possible to obtain the welcome bonuses:

  1. Hedge 2 account that are just newly created. This makes the winning chance by 50% as one account wins and the other loses. It is noticed that this method can only be used for brokers having loose withdrawal policy or without any conditions.
  2. Also hedge 2 accounts together to make the winning rate by 50%. Then, open huge positions by using the high leverage. Thus, this is only applied with brokers offering high leverage.

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