If you have been looking for a broker to open an account with, you may have come across many brokers that give out a bonus as a promotional offer. In the beginning, this seems like a good idea but it is crucial to know how these bonuses work before opening up an account with them.
One of the most common types of no deposit bonus is called “rebate” or “commission rebate”. You can see these proposals if you sign up for a forex broker and receive a commission rebate on each transaction made through your newly-opened trading account. This type of bonus is given without any obligation or condition attached to it; all you need to do is to fund your trading account and start taking advantage of the cash back offers they presented to you.
In this blog I will share you the guide with the help of you can easily find brokers with no deposit bonus easily on the internet.
1 – Longevity of the bonus offer
The most common brokerage promotions are time limited. Some brokers show a calendar with their promotional events, from which you can easily tell when there is a good idea to open an account and make use of the rebate you receive. Other brokers may send invitations through e-mails or special alerts on their websites to remind traders that a bonus promotion is going on until a certain date.
2 – Conditions attached to the bonus offer
In most cases, this type of bonus has its own conditions that need to be met before you start taking advantage of it. In some cases, you may need to contact your broker’s customer support team in order for them to add your trading account so they can add the commission rebate straight into your account.
3 – How much money is the rebate?
This type of promotion usually comes with a welcome bonus for when you open your trading account. The amount of money varies from broker to broker, so it’s important to find out what they are offering before opening up an account with them. It is also possible that you are required to deposit funds in order for them to add these offers in your account. Some brokers may also provide promotions every time you meet certain conditions during your trades.
4 – Will you be able to withdraw the bonus?
Yes, some reputable forex brokers do allow traders to have the option of withdrawing their rebate as cash or using it in their next trade. This will depend on whether or not there specific conditions that need to be met before you can withdraw the rebate, in addition to the brokerage’s policies, in general.
5 – Trading requirements
This is another factor to consider. Before you sign up for a brokerage account with them, make sure to find out if they have trading conditions that need to be met before you can withdraw your rebate. These may include placing a minimum amount of trades or executing a certain number of successful trades within the specific period given by the broker.
6 – Know your rights and obligations
While it’s true that no deposit bonus offers are great tools at helping you start making money right away, it is crucial that you know what these rebates entail and how they work exactly before signing up with a brokerage firm. If possible, try contacting their customer support team and ask about their promotional offers before signing up for an account with them; this way, you’ll be more knowledgeable when it comes to this type of bonus.
7 – Make sure there are no hidden costs
In some cases, you might find out that a particular offer comes with extra fees attached to it. So make sure to ask about the overall cost of the rebate before signing up for an account so you can decide if it’s worth taking advantage of their promotion or not.
8 – Customer Support
The brokerage firm you choose to work with should have easy-to-reach customer support agents that you can contact when in need. This will come in handy whenever you have some questions or concerns about their promotions, so make sure to read more information on them before signing up.
If you follow these steps when looking for brokers with no deposit bonus, you will be able to find the best promotion for your trading needs. However, it is very important that you fully understand how this type of promotion works and what are its conditions attached so you do not end up losing cash instead.