Forex Brokers and Promotions

Filed under: Learn Forex Trading |

I have recently taken advantage of two forex brokers’ promotional offers. One was the GKFX 300 GBP cashback offer (whereby they refund any losses up to 300 GBP in your first month of trading). The other was Easy-Forex 200 GBP cashback offer (whereby they refund any losses up to 200 GBP in your first month of trading). Over the course of these trading accounts, I made a profit of around 227 GBP. That profit was with Easy-Forex, and the GKFX account carried a loss so they kindly refunded the amount for me.

 

You can see a good list of all current forex promotions at: http://www.bestforexbonus.com/all.

 

However, what I am finding is that, although there are a plethora of forex promotions out there, the good offers such as the ones with GKFX and Easy-Forex are few and far between. A lot of brokers are offering ‘deposit bonuses’, which seem really good on the face of it, especially if it is a 100% deposit bonus up to $5000 for example (which some brokers are offering). A lot of people might jump at these offers without reading the small print properly. But beware! These deposit bonuses come with strings attached, and unless you are trading very large volumes of money, you are never going to be able to fulfil these conditions and withdraw any of the money.  For example, you might have to trade 500 or standard 1000 lots before you can withdraw any of the bonus money. That is a vast amount of volume and you are more likely to blow up your account if you are an inexperienced trader before that kind of volume is reached.

 

There might be other conditions attached too, like you not being able to withdraw any of your starting capital until the conditions are met. There are no doubt one or two good offers still out there, but my advice is to approach with caution and to make sure that you read all of the conditions attached.

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