New Trading Bonuses for 2022
Trading bonuses can be a great way to get your CFD, or forex trading account up and running with either a reduced, or no up front cost.
Some of the biggest and best CFD brokers continue to offer trading bonuses as a way for both new, and experienced users to test their trading platform in a live environment. There are a huge range of advantages to demo trading CFDs, but there are a few added psychological variables that come in to play when you are trading CFDs on a live account.
Even some of the very best CFD brokers offer trading bonuses so that you are given that extra encouraged to try their platform. Once you have begun opening an account using a CFD bonus, the goal is then for you to be happy and comfortable in your choice of trading platform to help reduce churn (the rate of users leaving them for another platform) for one, but also to encourage additional real deposits when you are ready to begin trading with your own capital.
There are a few different types of trading bonuses that are offered, each with its’ own typical function which we will explain simply below.
The Different Types of Forex Bonuses
Whilst you will see 5 different types of forex trading bonuses below, they can broadly be placed into two main categories. These are ‘no deposit’ trading bonuses, and ‘deposit’ bonuses. All except the no deposit bonus rely on you to have an account, which requires some up front funds in which to begin trading with. No deposit bonuses are offered by fewer brokers, but those that continue to offer these, are some of the biggest names around, with the budget to support it.
1. The No Deposit Forex Bonus
A no deposit forex bonus is a type of promotional offer that allows traders to start trading without needing to make a deposit. This means that you can start trading with real money without having to put any of your own money at risk. Often, these types of bonuses come with certain conditions attached, such as only being available to new customers or having to trade a certain amount before you can withdraw any profits.
2. Deposit Match Forex Bonus
A deposit match forex bonus is where the broker will match your deposit, up to a certain amount. For example, if you deposit $100 into your account, the broker may offer to match that with an additional $100, giving you a total of $200 to trade with. This type of bonus can be a great way to boost your initial capital, allowing you to trade with more money than you would have otherwise.
3. Volume Based Trading Bonuses
A trading volume bonus is where the broker offers you a bonus based on how much you trade. For example, if you trade $100,000 worth of currency in a month, the broker may offer you a bonus of $500. This type of bonus can be a great way to increase your profits, as it gives you an incentive to trade more.
4. Referral Bonus
A referral forex bonus is where the broker offers you a bonus for each person that you refer to them. For example, if you refer 3 people to the broker, they may offer you a bonus of $100. This type of bonus can be a great way to build up your capital, as it gives you an incentive to bring in more business for the broker.
5. Loyalty Bonus
A loyalty forex bonus is where the broker offers you a bonus for continuing to trade with them. For example, if you trade with the broker for 6 months, they may offer you a bonus of $200. This type of bonus can be a great way to keep you trading with the broker, as it gives you an incentive to stick with them.
