The Latest Forex Broker Offers and Bonuses – Part 2

Filed under: Learn Forex Trading |

Screen shot 2013-05-08 at 10.17.02Continuing on from our look at some of the latest offers and bonuses from forex brokers, NordFx offers a bonus of up to 25% of your deposit when opening an account. Again, this sounds great, but you do have to trade a certain amount of lots before you can withdraw any of it. For example, if you deposit $1000, you will get a bonus of $228, which is great, but you do have to trade 25 lots before you can withdraw this. This might not sound like much, but to put this into perspective, if you are trading the daily charts and risking $25 (2.5% of your bank) on each trade, then you might have to make around 250 trades before you can withdraw the $228 bonus. Moreover, if you deposit a large amount of say $10,000, you will get a great bonus of $2380, but you will have to trade a massive 240 lots. Not bad, and perhaps this is doable over the course of a year if you trade the intraday charts and have tight stops, so something to consider; but not one for me at the moment.

 

Everest Markets offers a very interesting 100% deposit bonus when signing up with them, up to a maximum of $5000. Of course there is a catch, but there might be a way around this one. If you deposit $5000, you will get a $5000 non-withdrawable bonus in your account. If you lose your whole $5000 deposit, you can then use your $5000 free overdraft, as it were, to make back those losses. However, if you were to hedge these losses with another broker, then it might be of some use. For example, you could go long on the GBP/USD with Everest Markets, and short the GBP/USD with another broker, losing $5000 with Everest Markets and gaining $5000 with another broker. You are now at breakeven, and you have $5000 in bonuses to trade with for free.

 

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