Forex Promotions: Forex Bonus & Rebate Programs
Online Forex Brokers are competing hard to expand their customer base with more trading accounts. In order to attract new traders, Forex Brokers are offering Bonus and Rebate programs mainly for new accounts but sometimes also for existing accounts.
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What you should be Aware of..
First of all when you choose a Forex Rebate / Bonus Program, you choose a Forex Broker too. Therefore, you can use our wide reviews and ratings concerning the world’s best Forex Brokers, and learn deep about them before you make up your mind.
Afterwards you must specify your needs and take into account all trading aspects: 1. Safety of Funds | 2. Trading Cost | 3. Available Platforms | 4. Trading Options | 5. Technology. Finally you must decide if you are after a Bonus Offer or a long-term Rebate Program. The right choice will maximize your trading profits. » Rating Forex Formula v.4 at Trading Center.
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Types of Forex Promotions
There are many different types of Forex Promotions, the main types include:
- No Deposit Bonuses –No Deposit Bonus is a fixed amount that is offered by Forex Brokers to traders without requiring an amount to be deposited. This promotion is usually offering very small amounts (20-50 USD) and they are basically used instead of a Demo Account. Traders are obligated just to fill the registration form with their details and usually to confirm their registration using a mobile number. Only a few Forex Brokers offer no-deposit bonuses and it is strongly suggested to look through the terms and conditions of offer before register a no-deposit bonus account.
- First Deposit Bonuses – This type of Forex promotion is concerning the first deposit in a new account. As a trader makes a deposit, the Forex Broker is adding a percentage of the initial deposit to the trading account. Therefore, if the Deposit Bonus is 30% and you Deposit 1,000 USD then your Trading Account starts with 1,300 USD. Deposit Bonuses can either be an adding percentage or a fixed amount of money. Deposit Bonuses are usually between 10% and 30% per initial deposit. Something about 60% of the Forex Brokers are offering first-deposit bonuses. Usually the maximum amount that a Deposit Bonus can reach is 10,000 USD.
- Re-Deposit Bonuses –As the name suggests is the Bonus for re-depositing funds. Only a few Forex Brokers are offering such a bonus plus there are limitations to the deposit level.
- Bonus Based on Trading Volume – Bonuses of this type are offered by some Forex Brokers to traders who reach a certain monthly trading volume.
- Forex Rebates – Rebates are offered to traders as cash back funding to their accounts. Forex rebates are usually provided to traders not by Forex Brokers but by Partnered Introducing Brokers like OnlineForex.Biz. Depends on the Forex Broker and the offering spread Rebates are usually from 0.1 pip to 0.5 pip. A rebate can been seen as a discount on the spread you pay to buy a currency. This discount is paid usually as a cash back at the end of its month.
- Forex Championship –Some Forex Brokers are organizing annual contests for traders and developers. For example the Dukascopy JForex Championship.
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Choosing between a Forex Bonus and a Forex Rebate
The right choice between a Forex Bonus and a Forex Rebate program depends on what is your trading profile. If you are new with Forex Trading a first deposit-bonus will fit you better while if you plan to trade hard then a cash back rebate program is the best deal for you.
How can you use OnlineForex.Biz to get the best Bonus Deal?
We partner with tens of the best Forex Brokers around the world. By using Contact us you may sent us your demand for a new account. Its free of charge as our Forex Consulting is provided for free. In order to save time please specify:
- Country of Residence
- Trading Experience (in years)
- Preferred Platform and other Preference if any (MetaTrader4, Expert Advisors, Scalper etc)
- Desired Currency Pair / or Pairs (optional)
- The amount you plan to deposit
Simply use the Contact Form and sent us your demand today, its 100% free before you open an account and it is 100% free after your open an account. And that is because we make money only from Forex Brokers not from traders.
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