The perks of Forex bonus program – different types of Forex bonuses

    Forex trading is booming these days. And brokerage companies are fiercely competing to attract clients through various bonus programs. That’s why we would like to remind you of the different types of bonuses applicable in Forex trading to make the most of your trade.

    1.  The initial / welcome bonus

    The Instant Bonus is often the juiciest bonus in Forex trading. It’s a type of bonus immediately added to your Forex account. For example, you get into Forex trading with an initial capital of € 1,000 on a platform offering an instant 20% starting bonus.

    Your Forex account will therefore be opened with an initial capital of € 1,000 plus 20% (€ 200), for a total of € 1,200.

    It is generally accessible at a specific rate for any seed capital investment.

    Some brokers like LBLV offer quite massive welcome bonuses of 30%. So get a sneak peek into LBLV review for more details about their trading conditions and bonus offer.

    2.  The pending bonus

    The pending bonus is a bonus that cannot be used immediately for trading. Instead, you have to trade a certain number of positions to unlock it.

    Once unlocked, you can then either cash it in or reinvest it. For example, a broker may offer you a pending bonus of 30%, which you will only be entitled to from a certain negotiated amount.

    These bonuses may seem less attractive because they are not immediate, but they are often higher and more attractive in the long term. Remember that even if Forex trading relies on the foreign exchange market’s volatility, investments in Forex are generally made over the long term, the time to learn all the strategies necessary for a safe and less risky investment.

    3.  The no deposit bonus

    The No Deposit Bonus is the only bonus in the Forex world that takes the form of real money. Like the instant bonus, however, you must trade a number of positions before you can cash it out.

    However, brokers rarely use it because it does not encourage you to reinvest with them, which is against their interests. It is therefore generally used for purely marketing purposes. It is, therefore, necessary to be wary of it.

    4.  The reload bonus

    Finally, the reload bonus, uncommon, is the promise of another bonus from the broker in exchange for a new deposit from you.

    It’s generally accessible to regular clients. For example, your broker may offer you a 25% reload bonus for every deposit. It’s an instant bonus that you will be entitled to with every deposit.

    This bonus can be very interesting for experienced traders who are already familiar with effective strategies in Forex.

    What are the benefits of bonuses in Forex trading?

    First of all, you can trade bigger lot sizes. More invested money, more return you can expect. Furthermore, you can use more leverage.

    Finally, if you just aim to explore the trading platform and brokerage service that interests you, using a bonus on a small deposit opens you more wiggle room for testing. Also, you can better test trading outcomes and strategies along with testing the withdrawal process.

    Last but not least, always read carefully trading conditions regarding the bonuses to make sure you understand the rewarding system of a specific brokerage platform.