Some FAQs (Frequently Asked Questions) you need to know about Forex Deposit Bonuses
Forex deposit bonuses are one of the most debatable topics in the forex world. A majority of forex brokers offer them and there are even no deposit bonuses also. As the name suggests, a forex deposit bonus is usually called a bonus that is added to your account once you make a deposit. These bonuses can be as small as 10% or as big as 100% and are at the judgment of the forex broker.
Why these bonuses are such a hot topic?
One of the biggest reasons is the actuality that they are generally misunderstood and this shortage of understanding usually leads to a misconception and bitter relationship between trader and broker. A forex deposit bonus is for sure not for the trader to pull out once you receive it, but it is generally used to assist the trading by adding some capital which can drastically increase profits earned.
The legality of those bonuses
Yes, certainly. A forex deposit bonus is always legal and you can easily take advantage of this bonus. Just due to the fact that it is a bonus, you should not consider it as free money as there are strict risk management rules in place. It is recommended to take advantage of a deposit bonus and be intelligent with it. Merchants who use those bonuses in a correct way can easily improve the performance of their account with the added capital.
The terms and conditions
Yes, there are. Everything is bounded by certain terms and conditions. Before you accept a bonus, you should ensure to read all of them so you can understand what actually you are adding to your account. You must know what not to do so that you can avoid the cancellation of your bonus by the broker which can surely happen if you do not abide by the terms.
When you should withdraw any bonus?
You must accept any deposit bonus once you read the terms and conditions and are fully consensual with them. In a majority of cases, if you attempt to withdraw, the bonus gets canceled. At the initial stage, your goal should always be to grow your account so you can trade bigger lot sizes and can easily make more money. Once you have attained that you would have easily fulfilled the terms and conditions and later can even withdraw your bonus.