Forex brokers often offer bonuses. They are used as promotions to attract new clients. The Welcome bonus is particularly important for the clients who do not have a big initial deposit. Traders Union analysts have prepared a rating of the Top 10 Best Forex Brokers With welcome Bonuses 2022.
What is a welcome bonus?
A Forex Welcome bonus is a special offer that allows new clients to get additional funds for trading from the broker. As a rule, in order to receive it, you have to take two steps – register (including verification) and fund your account, although some brokers also have additional conditions. Once you’ve completed those steps, the broker awards a bonus in the amount of a specific percentage of your first deposit amount.
What should I take into account when choosing a broker with a welcome bonus?
First and foremost, a trader needs to evaluate the broker, which includes analyzing its reliability, commissions and fees, number of available assets for trading, deposit and withdrawal options and other indicators. If you are interested in the welcome bonuses, you need to consider the following conditions:
- Withdrawal option. Some brokers allow you to withdraw the bonus subject to certain conditions and others don’t allow bonus withdrawal at all. If withdrawal is impossible, the money can be used for trading and the profit can be withdrawn.
- Withdrawal conditions. If withdrawal is possible, brokers set a number of conditions, such as the number of lots traded over a certain period of time, the amount of paid fees, etc.
- Bonus rate. Welcome bonus is awarded according to a percentage rate. It can be fixed or variable depending on the deposit amount. Most frequently, brokers offer a bonus of 50-100% of the deposit.
- Limits. Brokers set limits to avoid having the bonus amount too high. For example, a broker may award a 100% bonus to the deposit, but not more than $1,000. This means that even if a trader deposits $2,000 or a higher amount, the bonus credited to his account will still be $1,000.
Welcome bonuses are not always beneficial. Therefore, before agreeing to such a reward, it is important that you learn about all the conditions in detail. If they are not suitable for you, it is better to refuse this option. However, if the conditions are good, this bonus can provide wider opportunities for clients with a small deposit.