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Thread: Forex Bonus : For Traders or Brokers

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    Default Forex Bonus : For Traders or Brokers

    These days number of brokers are giving bonus to traders. But the bonus withdraw conditions are much hard means only few are able to fulfill them and withdraw money. On the other hand, there is much competition among brokers therefore they offer bonus. So I want to know :

    Is forex bonus really helpful for traders or brokers?

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    Hello Paul75

    FXOpen gives away all sorts of free bonuses now a day for new and not so new members to trade with, so it does benefit all the traders who take up these offers, FXOpen must benefit also, but it would take a far more senior member than myself to explain this part, but if I were to guess and worked out if every member gets an average of $25 and we had 10 members the total payout would be $250 if only one of these members added another $250 into their account it would break even, but its not that simple because I think FXOpen only gains the spread value back on each trade, so they must depend on account holders doing well and making lots of trades also.

    But that is only my thinking on the matter.

    Good luck
    ilearn2t
    Last edited by ilearn2t; 07-04-2012 at 06:20 PM.

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    Thanks ilearn2t to share your thought regarding FXOpen. However, it will be more helpful if you share GENERAL thought about correlation among bonus, traders and brokers.

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    Quote Originally Posted by Paul75 View Post
    These days number of brokers are giving bonus to traders. But the bonus withdraw conditions are much hard means only few are able to fulfill them and withdraw money. On the other hand, there is much competition among brokers therefore they offer bonus. So I want to know :

    Is forex bonus really helpful for traders or brokers?

    I am sure that it will be helpful. But it will be helpful for traders who can make consistent profit and not for newbies to the market. One also has to read all the conditions of the bonus program. Both those facts will make the bonus to work for us.

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    This bonus just help those trades who invest in these account according to the conditions of the broker. If their balance is zero the bonus is also vanish or their conditions are very hard. Some how traders can get support from this bonus.

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    Quote Originally Posted by aun View Post
    This bonus just help those trades who invest in these account according to the conditions of the broker. If their balance is zero the bonus is also vanish or their conditions are very hard. Some how traders can get support from this bonus.
    Yes, if we get margin call, we not only lose the bonus but depending on the type of bonus it will also effect the future bonuses in a negative way. It mainly happens for those bonuses which are offered for posting. If you lose bonus, then next time you got to earn the lost amount first.

    In normal bonuses it's just a loss of bonus and it doesn't effect the future bonuses that we receive.
    Last edited by pedrosa; 07-26-2012 at 07:48 PM.

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    Yes, my good brother, of course, I think I am sure it would be useful. But will be useful for traders who can make profit with the use of fixed capital management and good analysis of the market

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    Guys! What is a quarrel about bonuses? All the bonuses, that you get in Forexcup competitions let you trade in real accounts with the same rules as if you have put in your money. The only difference is the restriction for withdrawal of them, but all your profit you can withdraw. So what is the discussion about? Bonuses are the great start for trading in real accounts!

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    Quote Originally Posted by Danil View Post
    Bonuses are the great start for trading in real accounts!
    Does your view on this topic apply for all brokers? Please reply in general view not co-relate it with FXOpen.

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    Quote Originally Posted by Paul75 View Post
    Does your view on this topic apply for all brokers? Please reply in general view not co-relate it with FXOpen.
    Each broker bonuses have a number of their own features, so it's not so correct to speak about all brokers

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    Quote Originally Posted by Danil View Post
    Each broker bonuses have a number of their own features, so it's not so correct to speak about all brokers
    You are right. Therefore bonus is not always helpful for traders. Its importance vary broker to broker and term, condition to withdraw it. If rules are much complicated means it is more helpful for brokers not traders.

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    Certainly Bonuses are useful to Traders. Lot of Traders have got benefit because of the bonus.
    Bonus help new traders to come in the Forex.

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    Elder Analyst Danil's Avatar
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    Quote Originally Posted by Paul75 View Post
    You are right. Therefore bonus is not always helpful for traders. Its importance vary broker to broker and term, condition to withdraw it. If rules are much complicated means it is more helpful for brokers not traders.
    Let’s consider specific examples.
    For example, we take bonuses that can be received from good trading in forexcup competitions. There are some restrictions before withdrawal: there must be at least 30 days since the day of receiving the bonus, no less than 20 orders should be opened, and each of them should last no shorter than 10 minutes
    For whom is that particular bonus useful – for broker or for trader?
    I think this one is useful only for trader and all the restrictions are made in order to avoid swindlers.

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    Quote Originally Posted by Danil View Post
    For whom is that particular bonus useful – for broker or for trader?
    The main question is why brokers are giving bonus, if there is no benefit for them from it. They want to increase number of their traders/customers.

    It is well known that no one do anything without his or her interest. Forex is business for both traders and brokers as well. No one is here for social work both want to make money.

    Some traders do not want to use their own money so choose brokers which offer bonus. On the other hand brokers provide bonus to increase traders number.

    There is nothing hidden, it is useful for both and therefore most of the brokers are giving bonus.

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    Quote Originally Posted by Paul75 View Post
    There is nothing hidden, it is useful for both and therefore most of the brokers are giving bonus.
    Of Course

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