While a bonus or welcome incentive is an essential factor for many traders, you need to consider if this is important to you? Are you likely to choose your broker based on the bonus that they offer? Now many Forex brokers offer bonuses to incentivise people to open an account and make an initial deposit. Once you make a deposit they will often match this or offer a percentage of your deposit as a bonus.
Some brokers go one step further and give you a bonus before you deposit any funds. These bonuses vary significantly between brokers with some not offering one. While some may provide a flat bonus based on a minimum deposit, others will offer a percentage ranging from 10% to 100% of your deposit. A welcome bonus is an excellent way to get to grips with trading as it allows you to trade without risk.
Having these usable funds means that you can get used to trading on the website and make your early mistakes (if any) without risking losing your own money. It is important to note though that once you have received your welcome bonus, you can’t just withdraw it. Often you need to trade it a minimum number of times before you can remove it. After the first deposit bonus, many brokers will offer deposit bonuses to incentivise you to keep on trading.