If you want to start trading on the forex market, you do not necessarily have to dispose of large equity. What is more, you do not have to put in any cash at all. Best forex brokers often offer their clients special bonuses, whose value may range from $10 to $100. Thanks to the leverage, you can turn the initial $10 into $1000 with a degree of leverage at the level of 1:100. This article lists and explains various bonuses given to traders by their forex broker.
No deposit forex bonus is a chargeless benefit given by most brokers to encourage new clients to their services. Trader would receive free cash that they can operate with, just because they opened a new forex account. Several conditions must be met for you to be able to withdraw any profit, for example, there can be a fixed volume of trading that must be achieved. Some other forex broker may require making a first deposit before withdrawal of profits. If you are a rookie, go for such a free bonus, since it is a good way to get in touch with the market realms apart from the forex demo. Further, brokers offer a margin bonus or rescue bonus on deposits. This bonus enables investors to trade with broker’s funds as equity. When you lose the equity, a chunk of the lost capital is written off your bonus. For Example: having a $200 deposit may let you take a 10% margin bonus. Your new equity is then $220. Let’s assume that you lost $20. This 10% is going to be written of the bonus, which in this case is $2. Your total loss is going to amount $20 – $2 = $18. In the end, you are going to have the initial deposit of $200 – $18 = $182. This is still better than losing the whole $20. There are many more ways on how to get free bonuses from brokers. Making use of them is considered beneficial not only due to getting free capital, but also for educational purposes, like no deposit account in addition to forex demo.