The most important things about Forex Bonuses
Today we are going to talk about the important thing about Forex bonuses. First we are going to look at a deposit bonus at a Forex broker. The first thing you see when you enter a Forex broker’s website, is often a bonus. These bonuses vary a lot. Sometimes it is a 100% deposit bonus, other times it is a 25%. Sometime you need 10 wager 0.1 lot per dollar of your bonus, other times 0.5 lot.
Conditions & rules on the Forex Bonus accounts (How to work with No deposit Bonus on Forex?)
You have to keep a eye on the conditions, because they can affect your trading quite a lot. You often have a year to wager the total amount. If you didn’t reach the requirements before the deadline, your bonus will be removed from your account. Sometimes they will even remove the profit made from the bonus. An example could be: You deposit 1000 dollars, and you get a 100% deposit bonus. You have to trade 0.1 lot, per dollar you got. This means you have to trade 100 lots in a year.
This is pretty much from, if you only have 2000 dollars in your account. Then you will have to take trades with high risk, in order to reach the requirements. Normally we would say, do not risk more then 1-2% of you total account on 1 trade, but then you would have to take a lot of high risk trades, unless you are a scalper. (if you are a scalper, your amount per trade will often be higher, because your amount of pips to stop loss is way lower than other kinds of trading.
Disadvantage of Forex bonuses (High Spreads on the Bonus accounts)
The disadvantage of those sites who gives bonuses, is that they often have high spreads, and there fore makes it impossible for traders, and short term traders to benefit from their platform. If you already are a succesfull trader, those bonuses could easily be a good investment. If we take our earlier example again. You now have an account with 2000 dollars, and you need to wager 100 lots. You know your strategy, and you are already profitable.
Therefore you can deposit 8000 dollars more (With no bonus attached) You now have 10.000 dollars, and can more easily meet the requirements of your bonus, which still is on 0.1 lot of your first bonus amount. Another disadvantage of deposit bonuses is that they often will make you over trade, in line with you feel you have to take bad trades in order to reach the requirements.
Forex No deposit Bonus is a good opportunity for new Forex Traders
On the other side, when we talk about no deposit bonuses, they are a great alternative for new traders, who have traded a demo account, and have a strategy which is profitable. The change from fictive money to real money, makes our minds act different, and therefore you can test you strategy with a real money account, with no risk.
The disadvantage of no deposit bonuses, are that they always are very hard to withdraw. The requirements are very high, and therefore no deposit bonuses should not be seen as a way to profit.
No Deposit bonuses in Binary Options (Binary Options Bonus)
Deposit bonuses in the binary option world have many of the same pros and cons as the deposit bonuses in the Forex trading market. They are hard to complete, but it is possible. Binary options are more gambling than Forex trading, and therefore they are better suited for a fun night, than a way of making money. Binary options should be an alternative to go to the casino.
No deposit bonuses in binary option trading can be quite fun. You can risk it all, and have everything to win, but nothing to loose. I suggest you all to open an account at at binary options place, with a no deposit bonus, and have some fun, in a boring day. It should be said, always read to terms. Some of the bonuses is impossible to complete, while other bonuses gives you a fair shot.
By Mathias Billeskov
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