Closely watching the trends in the Forex market for more than a decade, Traders Union analysts regularly share valuable information with traders and readers. Their researches become a reliable help on the path to success. Welcome bonuses from Forex brokers became the topic of a new study by experts.
As you should know, the welcome bonus can be either deposit or no deposit. The difference is elementary — the deposit welcome bonus comes to your account after registration and replenishment of the account by the money amount determined by the broker. No deposit bonus is credited immediately after registration, and consent to receive a bonus. Also check: exchange great britain pound to pakistani rupee
Both types of bonus are intended for:
- Broker advertising and increasing customer loyalty
- Attracting new traders to the platform
- Opening opportunities for traders to practice on the real Forex market without risking their own funds
- Increasing the chances of a trader to make a profit
Basically, such bonuses are designed for beginners in trading. Despite its apparent simplicity, Forex is a serious business that is risky in many ways. The first few attempts by novice traders usually end in failure and loss of capital simply from lack of experience and ignorance of market behavior. Using bonus funds from a broker is a positive thing on both sides. If successful, they will turn into a great way to earn money without investment. In case of failure, you will not be upset because you are not losing your capital.
Can I make money using a welcome bonus?
The answer is definitely positive. Although the number of welcome bonuses is usually small ($10, $25, $50, or $100), many traders are lucky and multiply this number many times, already with the ability to withdraw it from the account.
But the use of welcome bonuses, one way or another, requires preparation.
You should focus on your trading strategy and be able to weigh and analyze trading decisions well. Also, before you start trading on the real market, even with a bonus, it is worth practicing on a demo account. For example, IC Markets provides not only a convenient demo account but also various types of welcome bonuses that beginner traders will be happy to receive.
What are the best welcome bonus platforms recommended by Traders Union
In addition to IC Markets United States (or rather, the US trading sector) knows several other trustworthy platforms that deserve your attention. Traders Union analysts examined in detail the conditions for providing welcome bonuses by such brokers as:
- RoboForex
- Instaforex
- FBS
- XM
- AvaTrade
- Tickmill
And many others. The rating consists of the TOP 10 best brokers who are ready to provide both deposit and no deposit bonuses – everything for a novice trader to feel confident in such a new and unusual, but certainly profitable environment, like the Forex market. Of course, Forex should by no means be considered as a 100% guarantee of earnings. But this is a real chance to improve your well-being and even get rich, so it’s worth a try anyway.
