One aspect of trading Forex online is that there is a lot of competition between all Forex Brokers, and as such each of them will be prepared to offer you all manner of different incentives to get you to sign up to their respective sites.
The most common way for a Forex broker to attract new customers and clients if for them to offer all newly registered users of their Brokerages to be able to claim a bonus when that customer makes their very first deposit, and this type of incentive is known as a Welcome Bonus.
Below we have listed a range of different types of bonuses that the vast majority of all Australian Forex Brokers are offering their new customers.
Plus you will also find listed below a range of additional bonuses that will be available to existing clients of some Forex Brokers.
- Welcome Bonuses – There are two main types of Welcome bonuses that you are going to get offered by a large number of Australian Forex Brokers.
Probably the one type of bonus that attracts the most traders is something known as a no deposit required bonus.
When you come across such a bonus you are going to be credited into your account a free of charge trading account balance once have signed up to the Brokerage offering you this type of bonus and logged into your account for the very first time.
It should be noted that when such a free, no deposit required trading bonus is offered you will often find that before you can cash out the balance of your trading account you need to turn over a set amount of trades. The number and volume of trades required will be stipulated on the terms and conditions page for that particular bonus so always familiarize yourself with those t’s and c’s before accepting and taking advantage of such a bonus offer.
Another type of welcome bonus you will find on offer from a lot of Forex brokers is something known as a Deposit Bonus. When you make an initial deposit that Brokerage will then give you a percentage of your deposit as a bonus and add it to your account balance as bonus funds.
The value of the bonus will vary, depending on which Forex Broker you choose to sign up to and become a real money customer of. But it is not uncommon for Brokers to offer bonuses worth over 100% of your deposited amount.
One thing you need to be aware of is to turn those bonus funds into cash you need to place a certain level and volume of trades with those bonus funds, this information much like the no deposit required bonus will be listed on the bonus terms and conditions page of the Forex Brokers website.
- Reload Bonuses – To give you an incentive to make another deposit into your Forex trading account more and more Brokers are offering something known as a Reload Bonus to their customers. This is much like the deposit match bonus given away to new customers, and by simply making an additional deposit into your trading account the Brokerage will then increase the value of that deposit by adding a bonus into your account.
You will find much like the deposit match new customer sign up welcome bonuses the value of the bonus is going to vary depending on just which Forex Brokers you are a customer of. However, there can be a lot of additional trading value to be had by accepting and taking advantage of Reload Bonuses, so always do be on the lookout for them!
- Cash Back Bonuses – We are also aware of many Forex Brokers who offer their clients a cash back bonus from time to time. This type of bonus is going to enable you to claim back a percentage of any losses you have made over a certain time period.
This type of bonus can often soften the blow of making a loss and will add another level of value when you are trading currencies online. Whilst you will be looking to make a profit, when you do make a loss and qualify for a Cash Back bonus you are then free to do what you please with that bonus.
- Referral Bonuses – You will find many Forex brokers will also give you a free bonus if you refer any of your friends or colleagues to their Brokerage. This bonus will be added to your account usually as soon as your friend or colleague makes their initial deposit.