Trading With Forex Bonuses

by Dejan Difo
(Mb, Slovenia)

Bonuses can be a nice forex goodie for your trading career. There are welcome bonuses, bonuses on deposit and action bonuses. And you can really start your trading career without investing anything. You get your first trading capital for free with no deposit bonuses or so called welcome bonuses.

About Welcome Bonuses
Some brokers will give you $5 and up to $100 or even more for free, just for opening a new trading account with them. This money (so called Welcome Bonus) of course can not be withdrawn, but you can use it for trading.

The welcome bonus is meant for testing out the brokers trading conditions like slippage, execution, spread, etc. But if you manage to make some profits just from those welcome bonuses you can of course withdraw them...

There is of course a small catch with bigger bonuses. Brokers that offer small bonuses $5 - $10 will usually allow you to withdraw all the profits without any limitations, but the bigger bonuses $100 and up can be timely and volume limited. Example: You get $200 bonus and you can withdraw the $200 bonus and all profits, but if you manage to trade a total volume of 20 lots in 2 months or something like that. So this will force you into over trading and making risky decisions.

I guess the most common question is "Can I make real money just from bonuses" and the short answer is "YES you can". It won't be easy and fast, but it is possible. You'll need to make some hard decisions and use high-risk trading strategies. Because, let's face it, if you trade on a $30 bonus account with cents, where 1 pip of 0.01 lot equals 0.1 cents, this won't bring you big profits any time soon. But on the other hand when you trade with bigger lot sizes you won't have much maneuver space to let your trades float into negative. If you are a new forex trader (beginner newbie) there is very, very little chance that you will make anything from the bonuses (more than 95% of all traders loose the bonus in the first two weeks). But the welcome trading money is free so why not give it a chance and with a bit of luck, you can be in the 5% of successful traders. We've tried many, many forex brokers that offer free welcome capitals from $5 and up to $200. And as tempting as the $200 bonus looks, these bonuses usually come with very hard trading conditions. You need to trade 10 lots and make XX profit in just one month, etc. That's just pointless, the lower bonuses of $5 and up to $30 are usually with no strings attached and you can withdraw any profits immediately.

Bonuses on Deposit
These bonuses are great when making deposits into your trading account. Brokers will give you a bonus on top of your deposited balance. For example: The broker gives you 50% bonus on deposit, and you deposit $1000 into your trading account, the broker will add additional $500 into your account for free. The $500 bonus will become withdrawable after trading 50 lots, etc. But some brokers will not allow you to loose the bonus, so check the bonus terms to be on the safe side later.

Action Bonuses
You will need to do something to get these kind of bonuses. For example like a FaceBook page, join a forum, join discussions, post on forums, etc. And each action is worth $0.5 or even mores. So the more you post the more free money for trading you get. These bonuses are usually not limited so you can get how much you really like.

by Dejan Difo.
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