These days, Forex bonuses are everywhere. They are a marketing initiative to get investors to parts with large sums of money to receive a bonus. Most Forex bonuses go something like this. Deposit $2,000 and get an additional 20% bonus on top of that.
When you give your money to the bonus company, they’ll top up your account with the extra funds. So, in the above example, you’ll end up with a handsome $2,400 in your account, rather than a measly $2,000. Tempting, huh?
Well, not so fast. Forex bonuses come at a price. And that’s why it’s so important to find the best deals.
One thing that you need to remember if taking advantage of a Forex bonus is that you won’t be able to get access to all the money in your account. This is because your capital is now mixed in with the capital of the forex broker.
Usually, to get at the bonus money or any of the initial capital you dumped into the forex account, you have to trade. Yes, that’s right, you paid into the capital fund, and now you’ve lost access to it.
So how do you get access to the money you’ve deposited? Well, most forex brokers state in the small print that to release $1 of the bonus, you’ll have to trade some dollar amount.
Usually, this dollar amount is in the thousands of dollars, up to $10,000 and maybe more. That means to get your $400 bonus payment, you’ll need to make $4,000,000 worth of trades. This highlights, therefore, the importance of choosing the best deal.
Trial Forex Bonus Services
Forex Bonus No Deposit are one way to reduce your exposure and keep your capital under your control. This is a great way to avoid the above scenario. Usually, forex brokers will offer no deposit bonuses to attract new traders.
As such, the absolute value of the bonus is lower than what you would get if you went with a deposit-based scheme. But the benefit is that you get to trial the forex bonus system.
Because the forex bonus market is rife with substandard traders, it’s also an excellent platform. You can use it to find out more information on which companies are good and which companies are not so good.
Think About What The Bonus Actually Means
If you do decide to make a full deposit, reflect on how long it will take you to get your hands on the bonus. If you’ve got a $2400 deposit and you’re allowed to risk one percent of that each day, that means that you can risk $24 per trade.
Thus, if you want to get your hands on your deposit and the bonus, you need to make 200 trades. If you make one trade each day, that means you are waiting nearly a year to get your money back.
Staying on top of which companies offer the best bonuses is important to make sure you get the best deal. Ultimately the rewards are often not as exciting as they first appear.