Forex welcome bonus 2018 can be a good start for people who just started forex trading so you should prioritize choosing a broker that offer attractive welcome bonus programs. I will help you choose the top welcome bonus by giving you some advice and reviews that come from my own experiences.
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Table of Contents
Current best welcome bonus programs
After trading and working with the best ECN brokers 2018, I personally think XM, FBS, and FXTM offer the best welcome bonus programs. The best among these three brokers should be XM because, alongside an excellent welcome bonus program, they are also running 100% bonus on new deposits program.
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Three main standards for choosing excellent forex welcome bonuses
Here are 3 standards you should keep in mind when choosing a good bonus program:
- Easy withdrawal conditions
It is not always easy when it comes to withdrawing welcome bonus because the best forex brokers 2018 have strict policies on welcome bonus withdrawing. However, even if you can not directly withdraw your welcome bonus, you can still withdraw your profits you gain from trading using the welcome bonus. It can explain why some brokers apply some policies such as minimum lot traded requirement on withdrawing bonuses. Below are minimum lot traded requirements of mentioned brokers:
– XM has the easiest withdrawal policy. They only require traders to complete 0.1 lot before withdrawing bonus profits.
– FTMX has the 2nd best withdrawal policy as traders only need to complete 1 lot traded to withdraw their profits.
– FBS comes last but they provides 123 bonus programs and the highest bonuses you can get are 123$. With each lot, you can withdraw a maximum of 3$ profit. For example, after 7 days of trading, you have got 60$ profit. In order to get all of that profit, you have to trade at least 20 lots.
- High welcome bonus value
Traders obviously want the highest possible amount of welcome bonus. FBS is doing a good job in this case as they offer a maximum of 123$ attainable welcome bonus and following by it are XM and FXTM with only 30$ of attainable welcome bonus
- Reliable forex brokers
Reliability is also an important standard that you should keep in mind when looking for a broker. Having traded with a lot of brokers, XM is always in the top of my list of reliable and transparent brokers.
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Other types of bonuses
Alongside welcome bonus, many forex brokers also have many other bonus programs such as Deposit bonus and Lot back bonus (Loyalty bonus). To be more specific,
Deposit Bonus is the program that encourages traders to deposit more as you can receive more money from the bonus by depositing more money.
Lot back bonus or Loyalty bonus is the bonus program that is preferred by most of the experienced traders because everytime trader makes a transaction, they will automatically get a portion amount of their transaction back to their account.
For example, the rebate amount for each completed trading lot of XM is 3$ and their spread for EUR/USD currency is 1.4 pip. It means that instead of the whole 14$ of the original spread, you only need to pay 11$ for each EUR/USD lot.
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Is withdrawing forex bonus profits possible?
As I have just mentioned above, most brokers set certain requirements to limit bonus profit withdraw. Below are two popular withdrawal requirements that most brokers are using:
- Completed trading lot
I have talked about this requirements and given an example regarding this matter. Most brokers will ask you to complete a particular amount of trading so you can withdraw the bonus. A disadvantage of this is that in most of the cases, to complete the requirements, traders may have to deposit even more money than the bonus itself.
- No direct bonus withdrawal
Forbidding directly withdraw bonuses such as deposit bonus or welcome bonus is also a common action that most of the brokers I have done business with do. They have to do it in order to prevent cheaters and exploiters to take the advantage of direct profit bonus withdraw and made profits on their own.
- Between good bonus and low spread, which one should we choose?
At first, most traders would choose brokers with bonus programs over brokers with low spreads. However, you also need to have a long-term plan for yourself. Low spread or overall better trading conditions are always good factors in a broker in the long-term because when you choose these brokers, you are trading with the best possible conditions you can get. I personally believe that credibility should be above any other standards in choosing best brokers because I usually have to deal with a large amount of money
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4 OF THE BEST FOREX BONUSES
After doing a lot of researches, I have found four brokers that offer better bonus programs than other brokers. These four brokers’ bonuses are:
▪ Best welcome bonus – FBS: 50$ welcome bonus
▪ Exness bonus: Rebate 2 – 16$ per lot
▪ Best welcome bonus – XM: 30$ welcome bonus
▪ Best deposit bonus – XM: 100% deposit bonus
- Two methods to exploit bonus programs
Obviously, any kind of cheating is not recommended but if you need to do so then I would suggest the two most popular ways of exploiting. Both of them may involve creating multiple accounts:
- The first way requires you to find brokers that have loose withdrawal policies. In this cheating method, you have to hedge two recently created accounts and after that, you need to let one account win and one account lose to maintain a win rate of 50%
- The second cheating method requires you to look for a broker that have high leverages. In this method, you should open very big positions to take advantage of the high leverages.
