Nowadays, Forex brokers have to adhere to the latest regulatory guidelines that are slowly wiping out the concept of Forex bonuses. In excess of 85 percent of all daily transactions involve the trading of the major currencies - U. The best Trade Entry Patterns. Trade with the famous Bulls 'n Bears Advantage Plug-in!
These categories reflect the primary purpose that each special bonus has to offer. Bonuses for beginners — These are the most popular and successful bonuses because they aim to attract customers to a specific trading site. These bonuses are known by different names and are also called welcome promotions, special offers for newcomers, first deposit bonus, and sign up bonuses.
Here is where regular customer bonuses come into play for existing traders. These types of bonuses are provided only to loyal clients and are usually considered to be the best Forex brokers bonuses among all types of Forex broker promotions. These offers are extended only to specially chosen clients, who can are qualified to obtain and acquire privileges that other new traders simply cannot access.
Some of these offers might not even be officially outlined as bonuses on the site. They are usually provided to encourage regular clients to continue using their brokerage services for a longer period and avoid moving their trading capital to a competing broker. Bonuses from third parties — These bonuses are specific to traders that open an account through an affiliate or introducing broker. Third party promotions are not entirely popular due to the various trading restrictions but are quite well-known bonuses among reviewers and market experts.
There are several types of these such promotions, but the main feature that distinguishes third-party bonuses from other offers is the involvement of a third party between the broker and the trader. You can find the best Forex broker bonuses from the many broker options that are available in the market; however, choosing the right bonus offer that meets your needs is a decision that you will need to make for yourself.
Although novices will usually prefer a welcome bonus that matches their deposits, more experienced and advanced traders will enjoy a greater benefit from different promotions such as cash rebates, loyalty programs, and reward points that are accumulated through trading.
Here are the most common Forex broker bonuses that you will find during your trading career by investing in different platforms and companies that are predominantly active in the industry.
No deposit bonus — When it comes to the finding the best Forex broker bonus, a no-deposit bonus is the one that most traders will probably choose for their trading needs. A no deposit bonus carries much less risk than traditional Forex bonuses, but there may be a stringent set of trading conditions that a trader must satisfy, in order to qualify for such a bonus.
You are generally not required to make any initial deposit for receiving a no deposit bonus, which is usually the first thing that you need to do top open an account and for getting a bonus or making a trade.
Withdrawal of profits is also restricted in this type of bonus offer. Deposit bonus — A deposit bonus requires you to make an initial investment before being able to access your reward in the form of cash, credit or other promotional gifts as part of the deposit offer. The standard deposit bonus is usually shown as a percentage of the initial deposit amount, while promotional items are often provided according to the size of the initial deposit. A broker may choose to exercise discretion while dishing out Forex bonuses, as some brokers might restrict the available bonus to the initial deposit only.
It is also common for a majority of Forex broker bonuses to have certain trading restrictions for clients that choose a deposit bonus; hence, be careful about the bonus offerings before accepting them. Welcome bonus — A welcome bonus is typically an incentive for traders to register with a broker, which can either be a no deposit bonus or an ordinary deposit bonus. In both cases, the bonus is only offered once. Refer a friend program — The refer-a-friend bonus offer this is a common third party Forex brokers bonus that is available to existing traders, as well as affiliate marketers.
In this case, the special promotion involves getting a reward of either a specific sum of money or a percentage of an amount of your initial deposit. Demo account — A demo account is a type of account that requires no investment upfront that allows traders to trade the markets through a virtual trading account. A demo account offer should not be referred to as a bonus offer. While it allows the trader to make free trades for a set time period without paying anything, the trade off is that you can neither win nor lose any money.
Forex contests — Forex contests may include real prize money that can either be withdrawn, or used as trading credits. Traders can sign up for different types of Forex contests, such as a trading competition, live trading account performance, market analytics, and determining the price of an asset at market conditions. FX contests may also include some special bonuses, but these are relatively rare among contemporary Forex brokers.
Nowadays, Forex brokers have to adhere to the latest regulatory guidelines that are slowly wiping out the concept of Forex bonuses. Which is still a big number, but not as big as many would have you believe. There are a lot of different names bandied around, in connection with Forex trading. The FX market, currency market, foreign exchange market, foreign currency market, and plenty more.
But they all refer to a form of investment that is undertaken by banks, business, governments, individuals and traders who exchange and speculate on various currencies. It is open 24 hours a day, 5 days a week.
And there are trading centers located in many major cities worldwide. There is no central marketplace, which is the case for stock market trading. Forex prices are quoted by all the major banks, but not all will have exactly the same price. The man on the street, such as you and I, will have to trade via a top Forex broker. And the rates they use will be an average of a number of bank rates. There are a number of different people, organisations, and top FX brokers who participate in the FX trading market.
As with any form of investment there are disadvantages and advantages of participating. As it is important to understand the jargon. The major Forex currency pairs and their nicknames are: The best online Forex brokers quote the exchange rate of two currencies in a pair.
This is because in any Forex trading transaction, one currency is being bought, while another is being sold. While the second currency, the US Dollar, is the counter or quote currency. If you decide to buy this particular currency pair, it clearly indicates how much of the quote currency USD is required to buy one unit of the base currency EUR. In the above example, 1. If you sell the currency pair, you will receive 1. If you want an easy way to remember the principle think of the base currency as the basis for the trade.
Whether you are buying or selling a currency pair the base currency is always the same. In other words, it is always based on the first currency in the pair. The whole point behind Forex trading, is to buy a currency pair if you consider the base currency will increase in value appreciate , in relation to the quote currency.
If you think the base currency will decrease depreciate in value in relation to the quote currency, then you should choose to sell the pair. Some of you reading this will find this section a little boring. We appreciate that not everyone will want to know about the history.
But we consider it an important part of your Forex journey. The foreign exchange market, or Forex, FX, or currency market, as it now often known, refers to a global decentralized market in which currencies are traded. Under this heading are all aspects of buying, selling, and exchanging different currencies at a current or predetermined price. Currencies have been traded across the globe for centuries, but one of the most important events in the history of the Forex market happened in the s, when the gold standard was introduced.
Before its introduction it would generally have been gold and silver that were used for international payment.
The value of these two metals was very much up and down. And were affected by global supply and demand. If a new gold mine was discovered it would drive the price of gold down.
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