kennyhubbard
(compuforexpamm)
Member Since Aug 20, 2009
266 posts
Aug 05 2020 at 12:17
Ebin posted:
I trade with FP Markets, they offer no Bonus, but spreads and commission cost are lower when compared with other similar brokers.
I trade with brokers that do not offer bonuses because its just a marketing trick to lure in traders and scam them, which is why i trade with FP Markets.
A somewhat over cynical view. The reality is not that bad. Bonuses are a marketing tool for sure. A broker is a business after all and of course they use things like bonuses to lure people. It's no different to any other form of marketing.
The problem with bonuses are two fold :-
1. It is hardly ever possible to trade the volumes required to withdraw the bonus, especially for newbies.
2. Most traders don't read the terms and conditions and they end up claiming the broker is a scam because they did not understand that the bonus is not free money.
I think both the Australians & ESMA have prohibited bonus, so you will often find bonuses being offered by the offshore 'less regulated' brokers. Now whilst that is indeed the turf of several scam brokers, that does not mean the a broker that offers a bonus is a scam. There are some good brokers like FBS, Hotforex that offer bonuses. I personally never get involved with bonuses but their existence doesn't automatically spell scam.
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I cannot say that bonuses affect the choice of a broker, but when they are there and still good, of course, this is a positive moment.
Adam Cantor
(AdamCantor)
Member Since Mar 18, 2019
98 posts
Aug 06 2020 at 13:02
compuforexpamm posted:Ebin posted:
I trade with FP Markets, they offer no Bonus, but spreads and commission cost are lower when compared with other similar brokers.
I trade with brokers that do not offer bonuses because its just a marketing trick to lure in traders and scam them, which is why i trade with FP Markets.
A somewhat over cynical view. The reality is not that bad. Bonuses are a marketing tool for sure. A broker is a business after all and of course they use things like bonuses to lure people. It's no different to any other form of marketing.
The problem with bonuses are two fold :-
1. It is hardly ever possible to trade the volumes required to withdraw the bonus, especially for newbies.
2. Most traders don't read the terms and conditions and they end up claiming the broker is a scam because they did not understand that the bonus is not free money.
I think both the Australians & ESMA have prohibited bonus, so you will often find bonuses being offered by the offshore 'less regulated' brokers. Now whilst that is indeed the turf of several scam brokers, that does not mean the a broker that offers a bonus is a scam. There are some good brokers like FBS, Hotforex that offer bonuses. I personally never get involved with bonuses but their existence doesn't automatically spell scam.
good points here.
Brussels88
Member Since Mar 11, 2020
38 posts
Aug 07 2020 at 11:20
I do not suggest brokers that offer any bonuses, I find brokers that offer bonuses are scams trying to lure traders in. Coupled with leverage, more often than not traders will end up burning their account.
Its better to trade with properly regulated broker like FP Markets or Dukascopy that do not offer any bonus, its good to trade with brokers like this.
Its better to trade with properly regulated broker like FP Markets or Dukascopy that do not offer any bonus, its good to trade with brokers like this.
CirillaCosta
Member Since Jul 19, 2020
34 posts
Aug 14 2020 at 11:55
Choosing the right broker is the most difficult job in this market. You can research about the brokers from different websites that provide broker reviews, forums, webinars, etc.
kennyhubbard
(compuforexpamm)
Member Since Aug 20, 2009
266 posts
Aug 14 2020 at 13:55
CirillaCosta posted:
Choosing the right broker is the most difficult job in this market. You can research about the brokers from different websites that provide broker reviews, forums, webinars, etc.
Actually be very careful where you take your recommendations from. There are many 'review' sites that are simply undercover Introducing Brokers. They provide what looks like an objective review and/or analysis but actually don't care which broker you choose because they get paid by all of them.
You also need to take a lot of reviews with a pinch of salt. If you see enough of complaints you will understand that forex has a bigger share of idiots than most places. Unfortunately these idiots tend to be quite vocal and shout down a lot of the good brokers. I mean literally calling a broker a scam because he has lost track of his $60 credit card refund.
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GeorgeBischof
Member Since Jul 19, 2020
318 posts
Nov 25 2020 at 10:59
A good broker can save your money in this market. You should choose the best and regulated broker to trade int his risky market.
ElliotCooke
Member Since Jul 20, 2020
341 posts
Dec 09 2020 at 08:03
A broker is the most important element in the forex market. You can not trade in the market without a broker. You should s\choose a regulated broker if you want to make money from this market.
the best broker is a broker which always ensure security of funds with a wide range of trading technologies , and they all currencies and never cheat with their clients.
Every trader is aware that most scams happen with brokers that provide a bonus, so it's better to trade with a regulated broker with no bonuses.
trader mini
(Traderprovn)
Member Since Mar 10, 2019
3 posts
Dec 19 2020 at 07:37
I have a good list of credible bonus forex brokers you can check out: https://tradermini.com/forex-bonus-khong-can-ky-quy/
In December many broker is offering bonus like x-mas bonus,no deposit bonus or welcome bonus.
SofieAndreasen
Member Since Jul 23, 2020
759 posts
Dec 20 2020 at 21:19
NathanJr posted:Right. Most of bonuses are non-withdrawable. So, it is kind of valueless in my opinion.
Every trader is aware that most scams happen with brokers that provide a bonus, so it's better to trade with a regulated broker with no bonuses.
IvanMelnik
Member Since Jul 09, 2020
34 posts
Dec 21 2020 at 12:24
SofieAndreasen posted:Same here! I saw many people choose brokers because of the bonuses they offer, even i was also tempted towards bonuses in the starting of my career but now i focus more on broker’s condition rather than focusing on bonus.
Right. Most of bonuses are non-withdrawable. So, it is kind of valueless in my opinion.
Jude_craig
Member Since Dec 05, 2020
81 posts
Dec 22 2020 at 06:22
I have always been dicey about brokers offering bonuses. Can someone here tell me why and why not to go for brokers offering deposit bonuses?
Alisson332
Member Since Nov 18, 2020
23 posts
Jan 13 2021 at 09:01
They are just for attracting more clients. You are right about regulated brokers, they are better for this.
For me, the broker Amarkets is quite profitable and safe, but I am also attracted by the availability of bonuses that they offer and which are constantly updated
I don’t usually find bonuses very good and more of a waste of time as there’s too many condition attached.