Are Forex bonuses helpful for the traders?
Posted In: Financial News
Many people in Forex have this fascination about these Forex bonuses. They think that these bonuses can change their career. Who will not be excited if they were barely given bonuses in their career when they are investing their money? We know that all of the brokers give the traders bonuses. There are also different types of bonuses for the traders. You will get bonuses for your deposit and this bonus is known as the welcome bonus. Whenever you visit any broker’s website, you will see that there is a big sign hanging and shining that free bonuses are given to traders for their deposit. How sweet is that! The shower of bonuses does not stop there. You will get the no deposit bonuses, welcome bonuses and many more. These bonuses make it look like you can exit the market with hundreds of bonuses amount in Forex. Is it really so? This is what we are going to find out in this article.
Bonus amounts cannot be withdrawn
The first thing that traders see when they are getting this bonus is they cannot be withdrawn. Unless you are trading with a reputed broker and you have lots of money in your account, these little bonuses are very great for you. Most people think they will withdraw these bonuses from their account when they are losing their money. It will cover the money they had lost in the market and they will be all good. There is no such history of bonus withdrawal. The highest that you can do is invest this bonus again in your account. When brokers are giving you bonuses with a smiling face, know if these bonuses can be withdrawn. When most of these bonuses are not, a small can be withdrawn after you have done a lot of works and giving them their money.
It’s not like that no one has ever withdrawn Forex bonus. It’s only the novice traders who fail to withdraw their deposit bonus. Before you invest any real money you should look for the Introducing broker minimum deposit conditions since it will give you a precise idea of the trading environment. Some retail brokers even don’t have a minimum threshold level of the deposit amount and you should never trade with them. You need to do some extensive research to find the best Introducing broker minimum deposit conditions suitable for your trade. If they offer welcome bonus then it’s an added opportunity to make some more money. But never rush to fulfill the condition of the broker since it will force you to overtrade the market.
To be honest you should never be concern about the bonus amount offered by the broker. The first thing that you should look is the Introducing broker minimum deposit. If it suits you then start trading the market with rational logic and place every single trade in favor of the market trend. Never trade with the money which you can’t afford to lose in this industry.
They are of very small amount
Forex bonuses are really of very small account. We know that traders feel excited about these bonuses but they are only for some couple dollars. If you think you are going to invest hundred dollars, you will get only a little number of bonuses. You may think these little is great but when you will begin to lose money, you will know why this little amount is merely anything in your account. Whenever you are placing trades, the brokers will take their fees and you will have to make a great profit to make yourself trading in Forex. This makes it even harder when these bonuses are little for you. These bonuses are only an attraction that you can never touch, never use but only see them. Do not select your broker by seeing how much bonuses they are giving but by their services.
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