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3 key things to know about Forex Bonus

Forex bonus is a nice way to get some additional capital above what you have initially deposited. Many traders often make the mistake of looking just at the forex bonus offers without paying attention to the type of bonus and the trading requirements that come with it. If forex bonus is something that interests you, here are three things to know about them.

1. Types of forex bonus

Forex bonus comes in two forms; the no-deposit bonus and a deposit bonus. They can go by different names, but the basics are the same. With a no-deposit bonus you are given free real money to trade forex. This is usually done after your verify your account information and in some cases, validate your account details by submitting verification documents. You can trade the no-deposit bonus without having to make a deposit, but you cannot withdraw the funds unless you make a deposit and trade a certain number of times.

A deposit bonus means that the broker give you a bonus based on your initial deposit. For example a 30% deposit bonus means that when you deposit $100, the broker gives you $30 in bonus. Of course, you can use this money alongside your trading capital (which comes to $130), but you won't be able to withdraw this $30 bonus unless you meet the trading criteria.

2. Always read the forex bonus terms and conditions

It is essential that you take the time to read the trading conditions for the forex bonus that you claim. Many traders fail to do this due diligence and end up complaining about the forex broker. A lot of inconvenience can be avoided when you read the terms and conditions. Most forex brokers typically require trading a certain volume. It can be 5 times the bonus amount in trading lots. For example a $30 bonus will mean you will have to trade 60 lots (5 times 30) before you can withdraw the bonus or the profits. The rules vary from one broker to another so always read the fine print.

3. Do you really need a bonus?

>Forex bonus can be good and bad. It can be good because claiming a no-deposit bonus can be a way to test the broker's trading conditions. You can also claim the no-deposit bonus just to trade with real money and not risk anything at all (except your information of course).

On the other hand, claiming a deposit bonus will lock in your initial capital as well. Think about it for a second by going back to the example in #2. Can you really trade 60 lots with a trading capital of just $130? It is next to impossible. Chances are that you are more likely to lose your entire capital than take any advantage of the bonus.

The influence of forex bonus entirely depends on the trader. At Allfxbrokers.com you can see a list of the forex brokers and the types of bonuses that they offer. If you find a particular bonus to be attractive, click on the ‘Read More’ button to know more on the bonus terms and conditions and how you can claim the bonus.

Last but not the least, always be careful when you trade a forex bonus and claim the bonus only when you are fully aware of the terms.

About Forex Bonuses

In recent years it has become common for brokers to offer bonuses to clients, which sends an indication that brokers offering bonuses are really keen to get traders on board at any expense. However, a lot of the very large and well established brokers do not offer bonuses and in fact frown upon bonuses.

When you understand that some brokers profit directly from client losses and the majority of clients lose money it becomes clear why some brokers use bonuses to get traders on board. On the other hand the STP brokers only profit from clients’ trade volume so since their profits are not directly based on deposits and losses they cannot afford to give bonuses, and should not be giving bonuses.

It’s important to understand what a bonus is and how it can be used, as its easily misunderstood. First thing you need to know is that bonuses cannot be withdrawn and in most cases expire after a defined period of time, such as one month in many cases. So, if you go to a broker offering a 60% deposit and make a $1000 deposit, your trading account will typically receive a withdrawablebalance of $1000 + a credit of $600. This allows you to hold open positions that require a margin of $1,600, even though you deposited just $1,000. However, it is important to understand that holding positions that require more margin than you have available is putting your account at greater risk of being stopped out. In fact by having a bonus has almost the same effect as increasing the leverage of an account. However, the bonus (credit) is typically withdrawn after a defined time period so all of a sudden any losing positions suddenly become more risky or get stopped out. Therefore, a bonus is in effect a temporary increased leverage and really does not help the trader much.

It is for that reason that we do not recommend using brokers that offer bonuses. The main reason is that brokers that offer bonuses are usually market makers hoping for you to lose money, and the second reason is that there really isn’t any benefit and can disrupt you trading strategy and psychology. Traders are far better looking for a broker offering a higher leverage than a bonus.

Broker Name Bonus Type Bonus Description Start Date End Date
Forex Optimum Group Deposit Bonus 30% 20/05/2012 01/10/2025 Read More
XTRADE LTD Deposit Bonus $20 Cash Bonus (No Deposit Needed) 01/10/2015 16/11/2018 Read More
InstaForex Group Other Bonuses & Promotions Win a BMW X6 28/12/2015 29/12/2017 Read More
FreshForex Other Bonuses & Promotions Fight for BMW X6 M! 15 stages of the contest, 150 prizes and the chance to win the grand prize are waiting for you. 15/02/2016 15/04/2017 Read More
NSFX Deposit Bonus 20% 01/04/2016 01/04/2017 Read More
Atlas Capital FX Deposit Bonus 40% Re-deposit bonus 01/01/2016 31/12/2016 Read More
Atlas Capital FX Deposit Bonus 30% 01/01/2016 31/12/2016 Read More
easy-forex Deposit Bonus 20% 01/01/2015 31/12/2016 Read More
ADS Securities London Deposit Bonus £50 Bonus on first deposit 01/01/2016 31/12/2016 Read More
FBS Deposit Bonus 100% Deposit Bonus 01/01/2016 31/12/2016 Read More
1BillionForex Deposit Bonus 100% Deposit Bonus 01/01/2016 31/12/2016 Read More
1BillionForex Deposit Bonus Deposit Bonus 01/01/2016 31/12/2016 Read More
AVATRADE Deposit Bonus 100% Bonus 01/02/2016 31/12/2016 Read More
AL Trade Inc Deposit Bonus Welcome Bonus $2000 01/01/2016 31/12/2016 Read More
AVATRADE Deposit Bonus Welcome Bonus up to $10,000 01/01/2016 31/12/2016 Read More
Vector Securities Ltd Deposit Bonus Bonus Micro +10 01/01/2016 31/12/2016 Read More
Vector Securities Ltd Deposit Bonus Welcome bonus +30% 01/01/2016 31/12/2016 Read More
XM Deposit Bonus 50% + 20% bonus program 01/01/2016 31/12/2016 Read More
STO Deposit Bonus 2000 EUR/USD 01/07/2016 31/12/2016 Read More
eToro Deposit Bonus Welcome Bonus worth up to $1,000 01/01/2016 31/12/2016 Read More
easy-forex No Deposit Bonus $ 25 17/09/2015 31/12/2016 Read More
InstaForex Group No Deposit Bonus No deposit required. 01/01/2016 31/12/2016 Read More
Robo Forex No Deposit Bonus $15 no-deposit bonus 01/01/2016 31/12/2016 Read More
Robo Forex No Deposit Bonus $40 USD Welcome Bonus 01/01/2016 31/12/2016 Read More
XM No Deposit Bonus $30 no-deposit bonus 01/01/2016 31/12/2016 Read More
XTRADE LTD No Deposit Bonus Phone Verification $20 bonus 01/01/2016 31/12/2016 Read More
FXOpen Markets Limited No Deposit Bonus $10 No Deposit Bonus 01/01/2016 31/12/2016 Read More
Markets.com No Deposit Bonus Free $25 Bonus for all new traders 31/01/2016 31/12/2016 Read More
Grand Capital No Deposit Bonus Free $500 for your real account 01/01/2016 31/12/2016 Read More
ETX CAPITAL No Deposit Bonus £$€20 (“Introductory Bonus”) 01/01/2016 31/12/2016 Read More
Atiora Limited No Deposit Bonus ECN Start Bonus! 01/01/2016 31/12/2016 Read More
TrioMarkets Rebates CASHBACK PROMOTION 01/01/2016 31/12/2016 Read More
10Markets Seminars & Webinars Webinars from 10Markets 01/01/2016 31/12/2016 Read More
Windsor Brokers Seminars & Webinars Forex Educational videos 01/01/2016 31/12/2016 Read More
Orbex Seminars & Webinars Free Webinars and Education for Traders 01/01/2016 31/12/2016 Read More
Forex Time-FXTM Freebies Free Trading Signals 01/01/2015 31/12/2016 Read More
Atlas Capital FX Freebies Free Forex E-book for Newbies 01/01/2016 31/12/2016 Read More
Orbex Freebies Free Forex eBook 01/01/2016 31/12/2016 Read More
Atlas Capital FX Freebies FOREX VIDEOS 01/01/2016 31/12/2016 Read More
AxiTrader Freebies Free Forex eBook 01/01/2016 31/12/2016 Read More
FXFINPRO Capital Freebies Daily Forecast 01/01/2016 31/12/2016 Read More
XM Rewards Loyalty Program 01/01/2016 31/12/2016 Read More
Atiora Limited Rewards «Atiora Reward Program» 01/01/2016 31/12/2016 Read More
Pepperstone Group Limited Refer a Friend Refer-a-friend program 01/01/2016 31/12/2016 Read More
Orbex Refer a Friend Refer a friend and earn $100 cash 01/01/2016 31/12/2016 Read More
Atiora Limited Refer a Friend Partnership Program 01/01/2016 31/12/2016 Read More
XTRADE LTD Other Bonuses & Promotions First Trade on us 01/01/2016 31/12/2016 Read More
ZARFX Other Bonuses & Promotions Enjoy Trading currencies and stocks SWAP-FREE 01/01/2016 31/12/2016 Read More
XTRADE LTD Other Bonuses & Promotions Account Verification Bonus 01/01/2016 31/12/2016 Read More
XTRADE LTD Other Bonuses & Promotions First Trade on us! 01/01/2016 31/12/2016 Read More
XTRADE LTD Other Bonuses & Promotions Phone Verification $20 bonus 01/01/2016 31/12/2016 Read More
Atiora Limited Other Bonuses & Promotions “ProC-Trading” Program 01/01/2016 31/12/2016 Read More
GDMFX Deposit Bonus 100% FX & BINARY BONUS 15/04/2015 30/12/2016 Read More
Alpari Deposit Bonus 101% Deposit Bonus 01/09/2016 31/10/2016 Read More
ICMBrokers Deposit Bonus 10% 07/09/2016 10/10/2016 Read More
Forex FS Deposit Bonus $10,000 Sign Up Bonus for Classic Accounts 03/10/2015 01/10/2016 Read More
GDMFX Deposit Bonus $30 000 WELCOME BONUS 20/12/2014 28/09/2016 Read More
IndigoDMA No Deposit Bonus $50 28/03/2016 28/09/2016 Read More
FreshForex Deposit Bonus 75% and 101% 13/06/2016 01/08/2016 Read More
ETX CAPITAL Deposit Bonus FIRST DEPOSIT OFFER 01/01/2016 31/07/2016 Read More
Exness Deposit Bonus Balance Booster Bonus Program 01/02/2016 31/03/2016 Read More
Plus500 No Deposit Bonus 25 € Welcome Bonus 01/01/2016 31/03/2016 Read More
Exness Other Bonuses & Promotions Golden Treasure Bonus Program 01/02/2016 31/03/2016 Read More
FreshForex Other Bonuses & Promotions Money Run Trading Contest 25/01/2016 07/02/2016 Read More
PaxForex No Deposit Bonus $7 no-deposit welcome bonus. 01/01/2016 31/01/2016 Read More
Tickmill Other Bonuses & Promotions Grand IB conquest 25/11/2015 24/01/2016 Read More
PaxForex Other Bonuses & Promotions New Year Roulette 01/01/2016 15/01/2016 Read More
1Billion Forex Deposit Bonus 20% - 25% 11/03/2015 31/12/2015 Read More
AAAFx Deposit Bonus 10% 01/01/2015 31/12/2015 Read More
AccentForex Deposit Bonus 40% 01/01/2015 31/12/2015 Read More
FXCC Deposit Bonus 100% 01/01/2015 31/12/2015 Read More
NSFX Deposit Bonus 15% 01/01/2015 31/12/2015 Read More
JustForex Deposit Bonus 100% 01/01/2015 31/12/2015 Read More
IKON Group Deposit Bonus Up to $5000 01/01/2015 31/12/2015 Read More
HotForex Deposit Bonus 30% 01/01/2015 31/12/2015 Read More
HotForex Deposit Bonus 100% 01/01/2015 31/12/2015 Read More
HotForex Deposit Bonus 100% SuperCharged Bonus 01/01/2015 31/12/2015 Read More
Robo Forex Deposit Bonus 50% 01/01/2015 31/12/2015 Read More
XM Deposit Bonus 30% 01/01/2015 31/12/2015 Read More
XM Deposit Bonus 50% + 20% 01/01/2015 31/12/2015 Read More
AccentForex Deposit Bonus 35% 01/01/2015 31/12/2015 Read More
FXGlobe Deposit Bonus 30% 01/01/2015 31/12/2015 Read More
FXOpen Markets Limited Deposit Bonus $1 Welcome Bonus on Deposit 01/01/2015 31/12/2015 Read More
ICM Capital Limited Deposit Bonus 10% 01/03/2015 31/12/2015 Read More
IKON Group Deposit Bonus 40% 01/01/2015 31/12/2015 Read More
NetoTrade Global Investment Ltd Deposit Bonus 30% 01/01/2015 31/12/2015 Read More
Forex Broker Inc Deposit Bonus 100% Welcome Bonus - Bank Wire 01/01/2015 31/12/2015 Read More
Forex Broker Inc Deposit Bonus 40% Welcome Bonus - Neteller 01/01/2015 31/12/2015 Read More
Forex Broker Inc Deposit Bonus 20% Welcome Bonus - Credit Card 01/01/2015 31/12/2015 Read More
Forex Broker Inc Deposit Bonus 30% Welcome Bonus - Credit Card 01/01/2015 31/12/2015 Read More
PaxForex Deposit Bonus 100% 01/01/2015 31/12/2015 Read More
Robo Forex Deposit Bonus 115% 01/01/2015 31/12/2015 Read More
Tickmill Deposit Bonus 50 €$£ 01/01/2015 31/12/2015 Read More
TradingBanks Deposit Bonus % depends on each client 01/01/2015 31/12/2015 Read More
InstaForex Deposit Bonus 250% 01/01/2015 31/12/2015 Read More
InstaForex Deposit Bonus 30% 01/01/2015 31/12/2015 Read More
InstaForex Deposit Bonus 55% 01/01/2015 31/12/2015 Read More
FBS Deposit Bonus 100% 01/01/2015 31/12/2015 Read More
SOL MARKET LIMITED PARTNERSHIP-SolForex Deposit Bonus 100% Credit Bonus 01/05/2015 31/12/2015 Read More
xCFD Deposit Bonus Deposit bonus 01/01/2015 31/12/2015 Read More

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