What is Forex Bonus and How Does It Work?

Bonus is one of the most exciting promotional offers that encourage traders to step into the trading world. It is also a major factor in deciding which forex broker youll deal with besides spreads, commission, speed, and quality of the execution of trades.

What is Forex Bonus？

Brokers offer many types of forex bonus, some of them are given to you after proving yourself as an active trader. While others are being deposited to your account once completing the money deposit process. Some bonuses are known as rebates and are credited to your account when you complete a trade. On the other hand, regular bonuses sometimes require you to open a certain number of trades first in order to get that bonus.

Then how do the Forex trading bonuses work？ In case of the deposit bonus, you have to make a Forex deposit, after accepting the brokers terms & conditions. Once the account has been deposited, it may take a few hours, or days in some cases, to receive the bonus on your account. Once you receive your bonus, you may start trading with the aim to trade the required volume, in order to claim the bonus.

When you complete the required volume, the bonus money can be transferred from the broker to the account. After this, you can do whatever you want with these funds.

What are the Different Types of Forex Bonuses？ 

Forex brokers offer different types of bonuses, most of them usually conditioned by a certain action. Some brokers offer bonuses only by opening an account. Yes! As simple as that. 

No Deposit Bonus:

What is the forex NDB none deposit bonus？ No Deposit bonuses are some of the most popular promotional deals in forex trading. It means that the broker will gift new accounts with a bonus with no initial deposit required. No deposit bonus is usually a small amount between $10 to $100, and it is considerably smaller than the deposit bonuses.

Deposit Bonus:

The deposit bonus is the most common type of bonus and is given to customers upon their initial deposit. Typically, new customers get an instant bonus as a reward for opening a new account and making an initial deposit. It can be either a fixed amount of money or a percentage of the deposited amount. 

Welcome Bonus:

The welcome bonus is exclusively offered to newcomers; who never had an account before. Similar to the no deposit bonus, it often doesnt require initial deposits. It is one of the most popular types of forex bonuses. However, this type of bonus is not always available and usually, it is offered for partnership cooperation to increase their business in new cities and markets.

Special VIP bonus:

On the other hand, if you are an active and old trader with some forex broker, you will be rewarded with some of the special programs for loyal clients. You need to stay with your forex broker for some time in order to claim such a bonus. Your experience with the forex broker is the main reason for you to be given such a forex bonus.

The VIP bonus is different, as in some cases you will need to create a VIP account to apply for the bonus. There is no way for you to receive a VIP bonus if you have signed in with an ordinary, micro, or any other different VIP account. This is relative and can vary from one broker to another.

Just keep in mind that VIP bonuses are usually quite profitable and beneficial, so when you open an account with a broker, you may consider whether to use the VIP account feature.

Turnover Bonus:

Turnover bonuses work like rebates or cashback services and allow active traders to earn additional income for the trading turnover made. It directly rewards trading activity and volume. It works automatically, so you don‘t have to do anything to receive such a bonus except for trading actively. Typically, the turnover bonus can be simplified as follows: when you trade X number of lots per month, you’ll receive Y amount of bonus money.

Reload Bonus: 

Some forex brokers offer their customers a bonus for every time they deposit money to their trading account, that one is called the reload bonus. It is because brokers understand that traders loyalty to the brokerage company needs to be rewarded. Hence, they offer repetitive bonuses rather than just receiving a single bonus after opening the trading account to keep them loyal. However, the percentage amount of the forex bonus might be lower than initial deposit bonuses. 

Rebate Bonus:

Forex rebates are such trading instruments that bring win when loss comes. Forex rebates are popular by the name of rebate pips. This bonus is actually a kind of cash-back bonus that never leaves traders empty-handed, even when they lose. The offers can vary, and traders have a variety of options indeed.

Many brokers want traders to trade as much as possible, so bonuses like this motivate trading efficiently. Rebate bonuses are aimed at beginners, experienced, and professional traders. This attractive offer excludes no group or level of traders. In conclusion, a rebate is considered as a form of clients rewards that can be provided in several ways including a traders bonus or an IB bonus.

LifeTime Bonus:

LifeTime bonus fromAximTrade is a special type of bonus that is not limited to a period of time and not related to any promotional campaign like regular bonuses. This bonus is available until the trader completely utilizes all available bonus amounts from all the Tiers. Therefore, this is highly valuable for traders as they can return to the account at any time and benefit from the forex brokers bonus.