Bonuses may sound interesting but it can cause problems and risky if traders know too little about bonus programs of brokers. As below, I will show you some factors about bonuses that you should be aware when you want to get bonus and support your trading. These factors are the standards for good bonus givers or the top listed best welcome bonuses.
Consider reasonable spread or best bonus
Before going to detail of the best bonus givers, first let’s see you should choose the credible brokers or the brokers that have good bonus programs? Almost skilled traders decide that they would trade with reliable brokers first then think about their bonus policies. Bonuses are just some thing awarded and encouraged for the trading but trading conditions or reliability is more crucial. So, to trade with the best forex broker that offer interesting bonuses and that are reliable too, you should sort out the top five or three best brokers and from that choose the one that have the tempting bonuses.
How to know which ones have the best bonus programs
There are three features to judge which is the best welcome bonus brokers
The withdrawal conditions are simple
That is true that to with the bonus from trading is not easy because actually bonuses are the strategy of the brokers to seduce more clients then they will make it difficult for traders to have the bonus amount. Broker commonly strict the the gate to withdraw the bonus by giving the requirements about the trading lot number or even give the second way out for bonuses. Let’s check bonuses from XM, FBS or FXTM to understand this problems more clearly. Among three brokers, XM has the simplest condition with 0.1 lot required to withdraw the profit or FXTM also has a little number with 1 lot for the condition. Although FBS has the biggest number for bonuses with $123, they still require more lots finished to draw the profit. With 7 days of trading, you can get $60 but you need to finish 20 lots to get $60 of welcome bonus.
As a result, that is quite impossible for traders to have the amount of bonuses. Usually, brokers require a number lots finished. Or brokers could restricts the bonuses by prevent clients from taking the bonuses directly but turn them into profit after trading. Therefore, traders can not have the bonuses but have to finish an amount of trading and win the trading to get the profit only.
The amount of welcome bonuses is huge
Welcome bonuses could be the amount that help decline the trading fee so it is wonderful if brokers can offer more. FBS, XM or FXTM are now the best bonus brokers that have the good amount of bonuses. XM and FXTM have the same number for this with 30$ most and FBS has the bigger number with 123$ most for
Brokers are credible
Like I just said before it is wonderful if brokers provide good bonus programs but traders have the fact of the reliability and transparence of the brokers. For your quick information, I have traded a lot and can ensure that XM is the most reliable and their welcome bonus is amazing too.
Beside welcome bonuses
Bonuses are the plans of the brokers offering their clients for both their benefit and clients’ benefit. As a result, brokers organize more than just one program. Apart from welcome bonuses, they also offer deposit bonuses and lot back bonuses.
The first one is the bonuses counted on the deposit amount, the more your deposit is the bigger bonus you have.
The second one is the bonus program that will rebate one amount when transacting based on the pair of currency traded and the time of the trading. That is when you trade EUR/USD and the spread is 1.4 pip, brokers have lot back bonuses will subtract about 0.3 pip or 3$ for the spread.
Which brokers have serve best these kinds of bonuses?
From a lot of checking and trading, I have got a lot of bonuses from three types of bonuses above I summarized the best in each kind of bonuses
About welcome bonuses, FBS offers 50$ while XM with a smaller number, 30$
XM is the one with the best deposit bonuses; the number is huge, 100% from the deposit amount
Lot back bonuses are more focused with Exness, with 2- 16$
Common ways of cheating bonuses
Although it is quite tricky for traders to have the bonuses they have earned then some of the wise traders know how to cheat a little amount of the bonuses. With the condition that most of the brokers restrict the withdrawal by some requirements. Through that traders still find the ways to trick some money by opening a lot of amount
The first way is that they will open many accounts to make a lot bonuses then turn two accounts into one account with 50% rate of winning. Once they win they can have the bonuses but it is considered more easily with the brokers that have the simple withdrawal conditions.
The other way is that cheaters also open a lot of accounts then they do the same with combining two accounts to gain 50% winning. But this time, cheaters use the high leverage brokers to higher the deposit and from that they can win the bonuses.
Top three brokers listed as the best welcome bonus brokers
Here is the list:
XM
FBS
FXTM
This list is checked from these features above and also from many knowledge of the most of traders and among them the best one to open an account is XM. Beside the good bonus value, they also offer 100% for deposit bonuses.
