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What is Forex Bonus and How Does It Work?

Paulsy

Well-known member
Forex bonuses can be classified into many categories and are given according to your trading experience. In the forex market, the trading bonus is usually a fixed amount of money or a certain percentage gifted to traders as they open an account, deposit money, or open a defined number of trades, depending on the bonus type. Here are some explanations of the different types of Forex Bonuses!

  1. Welcome Bonus: The welcome bonus is exclusively offered to newcomers; who never had an account before. Similar to the no deposit bonus, it often doesn't require initial deposits. It is one of the most popular types of forex bonuses. However, this type of bonus is not always available and usually, it is offered for partnership cooperation to increase their business in new cities and markets.
  2. Deposit Bonus: The deposit bonus is the most common type of bonus and is given to customers upon their initial deposit. Typically, new customers get an instant bonus as a reward for opening a new account and making an initial deposit. It can be either a fixed amount of money or a percentage of the deposited amount.
  3. Special VIP bonus: On the other hand, if you are an active and old trader with some forex broker, you will be rewarded with some of the special programs for loyal clients. You need to stay with your forex broker for some time in order to claim such a bonus. Your experience with the forex broker is the main reason for you to be given such a forex bonus. The VIP bonus is different, as in some cases you will need to create a VIP account to apply for the bonus. There is no way for you to receive a VIP bonus if you have signed in with an ordinary, micro, or any other different VIP account. This is relative and can vary from one broker to another. Just keep in mind that VIP bonuses are usually quite profitable and beneficial, so when you open an account with a broker, you may consider whether to use the VIP account feature.
  4. Rebate Bonus: Forex rebates are such trading instruments that bring wins when loss comes. Forex rebates are popular by the name of rebate pips. This bonus is actually a kind of cash-back bonus that never leaves traders empty-handed, even when they lose. The offers can vary, and traders have a variety of options indeed. Many brokers want traders to trade as much as possible, so bonuses like this motivate trading efficiently. Rebate bonuses are aimed at beginners, experienced, and professional traders. This attractive offer excludes no group or level of traders. In conclusion, a rebate is considered a form of clients rewards that can be provided in several ways including a trader's bonus or an IB bonus.
  5. LifeTime Bonus: The LifeTime bonus from AximTrade is a special type of bonus that is not limited to a period of time and is not related to any promotional campaign like regular bonuses. This bonus is available until the trader completely utilizes all available bonus amounts from all the Tiers. Therefore, this is highly valuable for traders as they can return to the account at any time and benefit from the forex brokers' bonus.

Note: Don't get tempted by forex brokers that offer double or triple your deposit amount. These bonuses usually offer you nothing in return. Such huge bonuses are simply used to trick you into increasing your leverage and blocking your withdrawals so you will have to take risky trading decisions. It is important to know that most large bonuses are usually not available for withdrawal. And trading conditions attached to them are usually hard to achieve, especially when a trader sticks to proper risk management practices.
 

Polakandil

Well-known member
Yes, there are so many types of bonus forex that exists in the forex world, usually bonus is offered by the broker with certain rules, so before taking the bonus, better to read the term and conditions, because different broker may be different rules regarding forex bonus, there are broker offer bonus with easy rules to withdraw, and there are broker offer a bonus with hard rules to eligible withdraw the bonus, besides all mentioned above, there are also prize bonus from a contest held by the broker like provided by Forex.game
 

geraldinemarsh

Well-known member
You’ve explained all about bonuses so well. Kudos for that! It’s very important to read the terms and conditions of a broker before using any bonus. I personally like deposit bonuses and use it with TurnkeyForex everytime I make a fresh deposit. It helps me to increase my trading capital. However, keep in mind that the deposit bonus is not withdrawable.
 
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