Many traders in the world still have some concern about bonuses such as how to choose the best brokers with best bonuses, how to withdraw bonus profit, etc. It is not simple money when we mention bonuses. Traders should have deep understanding of bonuses aspects to get complete benefits from bonuses. There are many different types of bonuses such as welcome bonuses, deposit bonuses and lot back bonuses. But in this article, welcome bonus are the most popular among traders so I will focus on this kind of bonuses. If you have concern about that, let’s read until the end of this article.
So what is welcome bonus?
Welcome bonus is amount of money that brokers offer to new registrations on their system. The best ECN brokers use this kind of bonuses as the method to attract more traders to sign in their account on their system. Meanwhile, traders use these bonuses to test brokers’ trading conditions and try out their trading strategies. Moreover, they also create as many accounts as possible to get the highest profit.
1. Top three forex welcome bonus brokers
With many years of working in forex field, I have much experience to work with the best forex brokers 2019 with best welcome bonuses in the world. Three below brokers listed down here are most reliable brokers with best welcome bonuses. If you are finding best welcome bonus brokers, you can consider them.
- XM
- FBS
- FXTM
Among these three brokers, XM is more reliable broker. In addition, XM also offer deposit bonus at the rate 100{1d0c50543d80685f446dc3c719f3b2f2034f169d726a7e4adca31ebb78af4cf5}.
2. Standards of good forex welcome bonuses:
To be a good welcome bonus broker, they must possess below criteria. If you are finding the best brokers with best welcome bonuses, you should consider below standards.
- Easy withdrawal conditions: Actually bonuses are offered by brokers but there are also many hard conditions to get its profit as well. Bonuses are used to invest in trading to get profit. All brokers don’t allow traders to withdraw bonuses, but its profit. Sometimes, brokers ask traders to complete minimum number of lot trades to get profit. It is a advertising method from brokers but it sometimes causes risks to customers. Because traders try to complete these inquired number of lots, so the investing amount may exceed the profit that they would get.
- XM has the easiest withdrawal condition in which traders only need to complete 0.1 Lot to withdraw all profit.
- FXTM is the second easy withdrawal condition. Traders have to complete 1 lot to withdraw profit.
- FBS has 123 bonus program. Traders can get up to 123$ welcome bonus. For each trading lot, you can withdraw 3$ profit. Example: After 7 days trading, you won 60$. In order to withdraw that 60$, you have to trade at least 20 lot.
- High welcome bonus value: If the welcome bonus is within 30 – 50 dollars, trading beginners and small traders will be interested in this amount. However with this amount, bigger traders will ignore, because the bonus value is too small to cover any fee part for them. So if brokers want to attract more big traders, they should offer the high welcome bonuses. Below are the best welcome bonus forex of some brokers, you can check and consider to cooperate with them.
- FBS offers the highest welcome bonus Value: 123$.
- XM and FXTM offer the same welcome bonuses value: 30$
- Reliable forex brokers: For serious traders, choosing the reliable forex brokers for themselves is very important in their trading path. The best forex brokers are good for you but you must consider other aspects such as local supports, payment method and country’s regulations to choose the most reliable one. XM is the most reliable forex broker among 3 above brokers. They are also the best forex broker for beginners.
3. How to choose the best forex welcome bonus brokers:
To help traders easily choose the most reliable forex welcome bonus brokers for themselves, I list down below three basic steps for your following, which is helpful and convenient for traders as well.
Step 1: List down 5 best brokers which are suitable for you.
Step 2: Choose best forex brokers that have good welcome bonus program. Of course these brokers are very good. So if they have welcome bonuses, it is much better for traders.
Step 3: Trade and get as much bonus as possible.
I am sure that you follow above steps, you can find the most reliable forex brokers with best welcome bonuses.
4. Ways to cheat welcome forex bonus:
Although there are many kinds of bonuses, traders only cheat welcome bonuses. With long years working with many brokers, I have used to cheated many brokers as well. I conclude that there are two popular methods as below. Traders can apply them as normal if you want to get more bonus profit to cover trading cost or test brokers’ qualification as well.
- First method: the traders need to create many new accounts to get welcome bonuses. After that, they hedge 2 accounts together. It means 1 account win and 1 account loss. So, they get 50{1d0c50543d80685f446dc3c719f3b2f2034f169d726a7e4adca31ebb78af4cf5} win chance. This cheating way can only be applied to brokers who allow traders to withdraw bonus profit without conditions.
- Second method: The cheaters also open many new accounts to get welcome bonuses. After that, they use the high leverage to open very big positions. They also need to hedge them with other accounts to make sure the win rate is 50{1d0c50543d80685f446dc3c719f3b2f2034f169d726a7e4adca31ebb78af4cf5}. For this type of cheaters, they prefer high leverage brokers.
