FOREX or Foreign exchange market is an over the counter financial market where currency all over the world can be exchanged in attempt to gain profits through their changing values. This market is considered as the richest financial market encompassing stocks, bonds and futures market.
Due to great treasures that lie behind FOREX, almost every investor is going in for this market. These investors are called FOREX traders and they will have their trading under a FOREX broker. The number of FOREX brokers is escalating. This is the reason why competition between brokers is high. One technique these brokers use in order to attract traders is to offer great treats or a Free Forex Bonus. If you are a FOREX trader, you should know which broker offer is the best so that you can make the most out of your investments.
Free FOREX bonus usually comes in a “welcome bonus” or “First Deposit Bonus”. The principle is easy. All you need to do is to create an account and deposit a certain amount of money. The bonus depends on the money you have deposited. Usually, the greater the amount of the deposited cash, the greater the bonus the investor receives. For example, you deposited $100. Your broker may give you 10% bonus only but if you deposited $500, your broker may give you 50% bonus in addition to the amount of your deposit. Some brokers may have a fix free FOREX bonus value. If the fix free FROREX bonus is 50% of the deposited amount, you will then receive $150 for an initial deposit of $100 or $750 for an initial deposit of $500. It pays to know that free FOREX bonus differs from one broker to the other.
Some FOREX brokers are becoming generous these days. Some may even offer a free initial deposit after signing in even if you do not deposit anything on it. Some, just like Plus 500, offers free $20 bonus after signing up without any need of cash deposit. After signing up, you need to send your contact number to them and they will send you a claim code through SMS. The claim code will be your key in receiving the $20 bonus.
Yes. FOREX brokers’ offers are blinding diamonds. But do you know that behind these free FOREX Bonuses lies a trap? Seeing the performance of the economy, there is definitely no such thing as FREE today. Brokers are just using marketing strategy to attract investors. So if you do not want to get fooled, it is best to understand the terms of the free FOREX bonus.
The terms, rules or requirement of the free FOREX bonus should be well understood before having it. You can read this on the website of your broker. If you do not want the terms included in the bonus, you can always deny the offer. The term, rules or requirement usually comes in a withdrawal restriction where you need to execute first a certain amount of trading volume before you can withdraw or claim it. For example, you need to execute a trading volume of 10,000 lot for every $1bonus.
To sum it all up, Brokers tend to offer great things for an investor like you in order to have you trading on their site. As an investor, do not be blinded by their offers. Know the rules and terms behind their offers so that you will not end up being fooled.
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