Bonus and broker

I don’t prefer a bonus. It is kind of useless.

Try to find out what can you do with those bonuses.

LyudmilLukanov posted:
I don’t prefer a bonus. It is kind of useless.

It really is, it;s tied up in turnover requirements and it takes a very long time to actually get it out. Not worth it at all imo

I avoid trading bonus offer brokers because of scams, and some brokers use it as a method to lure in new traders. I prefer trading with brokers like FP markets they do not offer any bonus.

The spreads in FP Markets are tighter, and the commission cost compared to other similar brokers are lower.

The vast majority of brokers offer bonus system, because it stimulates traders to deposit money. In my opinion, such system isn't perfect but it of course depends on the broker. Not every broker offers clear system of bonuses, because some brokers make it confusing in order to confuse traders.
Fortunately, there are not many brokers which offer such bonus system. The majority of them provides with clear system which really can be helpful sometimes. You have to learn the details of this system in order to understand how you can operate with it.

Many brokers currently offer bonuses and rebates

Casinos and bookies offer free bets and spins too. Check the T&Cs though and they specifically state they aren't for making money with. It's just a lure to get you in and using real money with them. Broker bonuses are much the same.

Why broker offer bonus !

Not all brokers offer bonuses. Generally speaking, dividends can only bear losses and cannot be withdrawn. The profitable part of the transaction can be withdrawn, and the rebate can be withdrawn at any time.

There are many good forex brokers that offer deposit bonuses but it’s better to read T&C before using it as some brokers also put restrictions on trading when you use a deposit bonus. Otherwise, a deposit bonus is a wonderful tool. I too have used it when I opened an account with Coinexx, faced no issues while trading or withdrawals.

bonus system is rather unclear to me. idk why, all the brokers I traded with provided me with the bonus system like 100% to the first deposit, but of course with dozens of 'clauses', like you have to trade a particular volume, you can't withdraw money which you have earned due to bonuses for a particular period or at all.

quite weird, but i know that many traders find bonus systems as a real miracle. well, it's their right, brokers try to attract traders with such systems actually, and professional traders less use the bonuses, because it's just a waste of time. But it's up to every traders and I can't judge a trader according to the fact whether he is trading with bonuses or not.

Try to select a broker by seeking advice from experts as the market is saturated with different types of brokers. There are several issues a trader needs to look for before choosing the right trading broker, including security, account types, and other facilities. So, make sure your broker incorporates all these facilities.

I prefer trading with brokers that do not provide any bonuses, especially deposit bonuses, because they are likely to be scammers or lead to withdrawal issues.

It is better to trade with low commission costs or minimum deposit brokers like XM, Skilling, and FP Markets.

I mostly avoid trading with brokers that offer bonuses since they are mostly scammers, I prefer trading with regulated brokers such as Avatrade, CMC or FP Markets.

I trade with FP Markets for now, and they provide free VPS if maintained a certain criteria, and the execution speed is 1 ms due to their VPS.

I have worked with different brokers and I want to say that the bonus should not exceed 40%.

Never try to expand your lot size because it will carry unlimited number of risk for you. So, you attitude will be like lowering your leverage to a sustainable amount.

ElijahM posted:
I avoid trading with brokers that offer bonuses because bonuses are one of the methods that scammers use to lure in traders, and bonus offers always have a catch to them that brokers do not reveal until capital is invested.

This is so true. I also feel like a good bonus is there to get you to look the other way from unfavorable terms. Everyone wants to get that bonus money but what does it really matter if the broker charges high fees on everything else? Even if you manage to meet their terms & conditions you just funnel that money back into the broker + more when you could have traded with a more cost efficient broker in the first place.