HERE IS A LIST OF FOREX BROKERS THAT OFFER ATTRACTIVE WELCOME BONUSES
Welcome Bonus Forex $30
Traders and brokers are involved in trading financial instruments to make maximum profits from the financial markets. Due to massive competition, brokers are always looking for creative ways to attract new clients (traders). One common marketing tactic among brokers is the promise of different types of bonuses (like a welcome bonus) which could be a fixed amount or a percentage of the trading deposit. A welcome bonus is usually credited to a trader’s live trading account when they sign-up or deposit a minimum trading capital.
Reputable brokers who give welcome bonuses are generally very transparent and state their terms and conditions on their websites. It is important to note that a welcome bonus should not be the only criterium for choosing a broker, as there are more important criteria like a broker’s regulation and trading fees. Though a welcome bonus seems to be an attractive offer, not all reputable brokers actually offer welcome bonuses.
Different Types Of Welcome Bonuses
Some brokers promise to give traders a fixed or variable amount of live trading capital when they sign-up for a live trading account or when they make their initial live trading deposit. A welcome bonus is a very attractive offer that is sure to attract traders provided all other factors like regulation and trading fees are also suitable for traders. After a detailed analysis of some of the best forex brokers that accept South African clients, we want you to understand that there are different types of welcome bonuses and most times terms and conditions apply. There is the deposit welcome bonus and the no-deposit welcome bonus.
It is more common for the no-deposit bonus to be a fixed amount since traders do not have to deposit any money before receiving the bonus, all traders have to do is sign-up for a live trading account to receive the no-deposit welcome bonus. On the other hand, deposit welcome bonuses are usually a percentage of the initial live trading deposit that is made by a trader and there is usually a minimum live trading deposit that must be made before the trader qualifies to receive any deposit welcome bonus. Also, there is usually a maximum limit for the percentage-based deposit welcome bonus.
Best Forex Brokers with a $30 Welcome Bonus
XM.com is a popular broker with over 3.5 million clients from 196 countries including South Africa and is regulated by CySEC in Cyprus, FCA in the United Kingdom, and IFSC in Belize. Traders from South Africa are allowed to trade with a ZAR account. XM.com is one of the few reputable brokers that offer a no-deposit welcome bonus to new clients. All you have to do to qualify for this $30 no-deposit welcome bonus is to register and open a live trading account and there is no need to deposit money before you’ll be credited with the welcome bonus. (T&C Apply).
Also, XM.com offer a two-tier deposit welcome bonus which is currently 50% and 20%. The first bonus is 50% of your initial trading deposit and can be up to $500 or its currency equivalent. While the second bonus is 20% of your initial trading deposit and can be up to $4,500 or its currency equivalent. This two-tier bonus is applied to deposits from just 70 ZAR. Please note that on both bonuses terms and conditions apply, but they are pretty fair.
AvaTrade is a reputable broker that is regulated by the FSCA in South Africa, ASIC in Australia, and DBI in Ireland. New traders with AvaTrade may be eligible to receive a welcome bonus on their initial live trading deposit. But unlike the XM $30 No Deposit Bonus, this is a deposit bonus. This means you have to deposit your money to receive the welcome bonus. This welcome bonus is often available and may have an expiry date. Also, eligibility for this deposit welcome bonus depends on jurisdiction but South African traders are qualified. Currently, the minimum live trading deposit to qualify for this welcome bonus offer is $200 and the welcome bonus is 20% of the initial deposit.
This means that the minimum welcome bonus is $40 on a $200 initial live trading deposit. If your Initial live trading deposit is more than $10000, you will need to discuss with your account manager to negotiate your welcome bonus. All live trading profits made on this welcome bonus can be withdrawn but the welcome bonus itself can not be withdrawn. (T&C Apply). If you already have a live trading account with AvaTrade, you can contact your account manager to know about other trading bonuses you may qualify for.
Benefits of Welcome Bonus Forex Brokers
A welcome bonus is a type of trading bonus that is usually only available to new clients. The terms and conditions for withdrawing your bonus differ from a broker to broker and the best practice is to verify this information directly with your broker. However, most brokers let you withdraw all profits made on all types of welcome bonuses- deposit and no deposit.
Also, all reputable brokers we found state that you can not withdraw the actual welcome bonus itself. If you already have a live account with a broker, you do not qualify for a welcome bonus but you can contact your personal account manager to know other trading bonuses that you may qualify for.
We can only mention reputable brokers because they are trusted by their clients. Therefore, XM.com seems to be one of the best brokers that offers a $30 no-deposit welcome bonus. As a forex trader, XM.com will give you a $30 free welcome bonus without requiring you to make any deposit. When you decide to make your first live trading deposit, XM.com also offers a deposit welcome bonus which is usually a percentage of your initial trading deposit.
There are so many forex brokers and choosing the best one that fits your unique trading needs can be overwhelming. A welcome bonus (deposit or no deposit) is an attractive offer but it is more important to check out a broker’s regulatory licenses and trading conditions. XM.com and AvaTrade are some of the best forex brokers (who accept South African clients) that give welcome bonuses, are licensed by reputable regulatory bodies, and have fair trading fees.