What is a Forex Trading Bonus? Useful Guide

Nowadays, traders can find numerous forex brokers with bonus and promotions. But what exactly is a forex bonus? It is an award given to clients by brokerages to thank them for choosing their company. It can also be described as a unique promotion that helps clients familiarise themselves with the company’s services and offering. It is also used to catch clients’ attention, boost their trading journey and attract new deposits.

These bonuses and promotions differ from broker to broker and usually last for a short period of time. There are also some specific requirements that need to be met. Below are some of the most common limitations and rules regarding a bonus:

  1. Limited period of time to use a bonus
  2. Minimum trading volume to meet
  3. No withdrawal of bonus
  4. High trading activity required
  5. Register with an online broker
  6. Upload documents to verify your profile
  7. Deposit a specific amount of money

Deposit bonuses: How do they work?

Trading brokers with bonus enable traders to download and use the MT4 platform and start trading forex and other assets with an extra boost. Bonuses have various types, names and requirements. Some clients receive a bonus upon registration while some others claim it after they reach a specific trading volume. Below are some of the most common bonuses:

  • No deposit bonus
  • Rebates bonus
  • Welcome bonus
  • Forex trading bonus
  • VIP bonus
  • Turnover bonus
  • Reload bonus

Regarding the best forex deposit bonus, traders will have to deposit money once they register and verify their profile. The bonus will be credited into the trader’s trading account.

Choosing the right forex bonus

Trusted broker

Pay attention to the broker that offers the bonus. Check its reliability and services. The platform offered is of high importance and so are any additional features. Read reviews, make a shortlist and don’t hesitate to ask for custom-made solutions.

Terms & conditions

Read the terms and conditions carefully. Some requirements may be harder to meet. Choose a bonus based on your risk appetite.

Select carefully

Choose a forex trading bonus that is closer to your trading strategy and goals rather than for the bonus itself. Carefully selecting your bonuses is more important than trading it.

Bonuses & promotions: Pros and cons

With bonuses, your total account balance increases depending on the percentage and limitations of the bonus offered. More capital means more potential to generate revenue. Also, you will be able to hold more trades as the trading equity and investment capital are increased, too. Leverage is increased as well. Last but not least, no deposit bonuses enable traders to take advantage of some extra money without depositing any of their capital.

However, there are some disadvantages too. The requirements of the bonuses or the trading volume are sometimes hard to meet and the required amount to deposit is usually big. Finally, traders may get caught up in overtrading in their effort to meet the bonus requirements.

IronFX deposit bonuses

  • 100% Unlimited Sharing Bonus*
  • 40% Power Bonus up to $4,000*
  • 20% Iron Bonus up to $2,000*

*Terms and Conditions Apply. Bonuses cannot be withdrawn

There is also an exclusive competition, called the Next Iron Trader Competition, which offers a huge prize pool of $550,000.

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.


DISCLAIMER: This information is not considered as investment advice or an investment recommendation, but is instead a marketing communication

Location: United Kingdom

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