As the first step for traders who are new to the market, welcome bonus plays an important role in his/ her journey. As its importance, it is essential to pick the right broker with a valuable welcome bonus. So, after gathering and analyzing all the information in the market, today, I will introduce as well as give you some reviews based on my own thought of the best welcome bonuses that are available in the market nowadays.
First, I will reveal my top 3 brokers that own the best welcome bonus forex recently. This ranking is on the basis of my experience in trading and the information I collected from trusted sources. The three names are XM, FBS, and FXTM respectively. In details:
- XM’s welcome bonus
- FBS’s welcome bonus
- FXTM’s welcome bonus
From my point of view, I prefer the XM’s welcome bonus program since it is not only the broker that has the highest prestige but it also has a 100% deposit bonus program.
Next, I will explain all my standards up to which I evaluate a bonus (specifically a
welcome bonus). Those standards are: withdrawal conditions, its value and finally, the
broker’s reliability. Specifically:
1. Easy withdrawal conditions: Actually, it’s rarely seen a broker that allows us
to withdraw our bonus but there are a lot of brokers that enable you to
withdraw the bonus profit when you finished a required number of trading
lots. As a matter of fact, every trader in the market right now is searching for a
broker that has easy withdrawal conditions, which means that traders are
looking for those brokers with the least lots required. The top 3 brokers that
have easy withdrawal conditions respectively are: XM, FXTM and FBS. In
details, XM only requires traders to complete 0.1 lot. The second place has
belonged to FXTM with only 1 lot required and FBS is holding the 3rd place
with a special program. Specifically, the value of FBS’s welcome bonus is
123$, when you finish 1 lot, you can withdraw 3$. For example, to withdraw
60$ profit that you earn in 7 days, the minimum lot required is 20 lots.
2. Its value: Of course, the higher the value is, the more attractive the welcome
bonus is. The top 3 brokers I ranked above are those brokers with the most valuable welcome bonuses in the market right now. FBS has the highest value
with a 123$ welcome bonus. Running right behind are XM and FXTM with
both program’s values are 30$.
3. The broker’s reliability: This is the most important factors when it comes to
choosing brokers. In the top 3 above, it’s clearly to see that XM has the
Furthermore, I will briefly introduce some other types of bonus besides the welcome bonus:
- Deposit bonus: As you can clearly see from its name, it is a bonus that a broker offers when you deposit money. This means the more money you deposit, the more money you get.
- Lot back bonus: Or also called cash back bonus. It is a loyalty program which is offered to those customers who have been working with the brokers for a long time. This is the most favorable bonus in the market since it could help traders reduce the transaction cost. For examples, the spread of XM for USD/EUR currency right now is 1.4 pips, and for each trading lot the traders complete, he can earn a promotion of 3$. This means traders only have to pay 11$ transaction cost for USD/EUR transactions instead of 14$ originally.
Another question that I received a lot these days is “can we really withdraw the bonus?”. The answer to this question lies in the broker’s policies. Usually, there are mainly 2 types of conditions:
- As I stated above, the first type is to complete a required number of trading lots. Almost every broker in the market right now apply this policy. But the biggest disadvantage of this condition is that sometimes, traders have to lose an even bigger amount of money than the actual value of the bonus profit to complete those lots.
- The second ones doesn’t allows traders to withdraw bonus directly. It’s really simple to explain the purpose behind this policy. There are a tons of cheaters who can take advantages of these bonus to make profit for themselves if the brokers allow traders to withdraw bonus money directly.
Some young traders who are new to the market come to me as they are confusing about which brokers should they choose: good bonus or low spread rate? In my opinion, I think that this totally depends on you and your trading strategies. Just keep it in mind that the most important factor is the broker’s prestige.
If you’re still wondering that besides those top3 best welcome bonuses above, which bonuses (in all types) are of the best forex brokers 2018 in the market right now, I will introduce my top 4 bonuses below:
- Best welcome bonus: the 30$ welcome bonus of XM
- Best welcome bonus: the 50$ welcome bonus of FBS
- Best deposit bonus: the 100% deposit bonus of XM
- Exness Bonus: Rebate 2 – 16$ per lot of Exness
To end up this topic, I will secretly teach you how to hack the welcome bonus. Remember that this is the ONLY type of bonus that you can cheat. For both methods, you will have to open as many accounts as possible. The purpose of this is to earn the most welcome bonus money. After that,
- For the first method, you will then hedge 2 accounts together to make sure the winning rate is 50%. This method is only able to apply when your broker has easy withdrawal conditions.
- For the 2nd method which is only used when your brokers are brokers that have a high leverage rate. You will take advantages of high leverage and open big positions then hedge those accounts together to also create a 50% winning chance.
For Thailand readers, more about โบรกเกอร์ forex ที่ดีที่สุด 2018