Start your online trading with the very Best Forex Bonus Promotions . We have listed all the offers from trusted and regulated Forex brokers .
The Best Forex Bonuses in South Africa for 2020
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Best Forex Trading Bonus Promotions
We have taken the time to research, compile, and list the Top Forex Broker Bonus Offers on the internet, in order to help our traders to trade with the most initial Trading Capital available.
Check out our Forex Deposit Bonus Page for our list of the best and most popular deposit promotions by Forex brokers. Some of these Forex bonus allow you to use the deposit bonus as Margins (Rescue Bonus), while other Forex Brokers allow you to convert the Forex Deposit to cash after meeting certain requirements.
Types of Forex Bonuses Offered by Forex Brokers
There are many types of Forex Bonus being offered by Brokers online. Forex Bonus 100 helps you to find the best bonus for your particular tastes. We list the top brokers offering the top bonuses, so you don’t have to hunt them down.
If you are unfamiliar with the different types of Forex Bonus, we have broken down the most popular bonuses here, to help you better understand the Forex Bonus Offers available so you can select the one that’s right for you.
No Deposit Forex Bonus South Africa :
The No Deposit Forex Bonus is a free bonus offered by many Forex Brokers to attract new traders to open an account with them. Traders get free funds that they can use to trade with, just for opening a new trading account. The amount of this bonus varies amongst Forex Brokers, but is generally in the range of $10 to $100.
In order to qualify for the forex trading bonus, certain conditions must be met before you are eligible to withdraw any funds. Usually there is a certain volume of trading you must meet and some brokers also require you to make an initial deposit before you are eligible to withdraw any profits.
Margin Bonus or Rescue Bonus on deposits SA
A margin bonus allows traders to use the Forex Brokers funds as Trading Equity. If you lose the equity, a percentage of the amount lost is deducted from your bonus. For Example: If you deposited $1000 and took a 30% Rescue Bonus (Margin Bonus) your new equity would be $1300.
Now, suppose you lost $300 on trades. Your 30% will be deducted from the bonus, which (in this instance) would be $90. So that your total loss would be $300 – $90 = $210. So you will have your initial deposit of $1000 minus $210, leaving you with $790.
Without the Rescue Bonus you would have lost all $300, but with the special Margin Bonus you saved yourself $90 in losses, which definitely helps. There are many brokers that offer the Margin Bonus. Major Brokers offering Margin Bonuses include HotForex, IronFX (CySEC Regulated) and CaesarTrade.com,
Volume of Bonus Forex trading in South Africa
If you are a trader that trades in high volumes, then a Volume Bonus may be the best for you. A Volume Bonus allows traders to receive , up to 100% of their deposit, to be available for withdraw after the trader meets the set volume. In order to get the maximum benefit from this bonus, you need to meet the volume and then make your withdraw.
This type of bonus is better suited for long term traders. If you withdraw money before you complete the volume, a percentage of the bonus will be removed upon withdrawing the funds.
Forex Welcome Bonus Promotions
Forex Welcome bonus Promotions are offered to first time traders. Forex Brokers use this promotion as a means of getting new clients to open an account with them. Often, newer brokers will offer very large welcome bonuses in order to build up a large client base, though lately some established brokers have been also offering welcome bonuses.
The main points to remember about most forex Welcome Bonus promotions is:
- This is a onetime bonus offered to traders when they sign up for a live account with the broker, you cannot get it more than once or upon subsequent deposits.
- The Welcome Bonus is not available for withdraw, but is used for trading capital.
- There are terms and conditions that usually apply in order for you the trader to be eligible for this bonus, such as having to make a certain amount of deposits or trading a certain number of lots.
- If you do not meet the requirements, you may be charged a penalty on your withdraw, so it’s important to read the terms and conditions carefully in order to avoid accidental penalties.
Welcome bonuses are often some of the best bonus offered by Forex Brokers, but you should not just jump on a broker’s bandwagon simply because they are offering a great welcome bonus. You should first check out how reliable the broker is, what other bonuses the broker offers, and what rules govern the broker’s promotions. forexbonus.co.za will help you in those areas as we list only the best brokers with the best promotions.
Best Forex reload bonus in South Africa
A Forex reload bonus (or Re-Deposit Bonus) is very similar to a welcome bonus, in that it is a onetime bonus offered to traders, however instead of offering this on your initial deposit, Brokers offer this bonus on your second deposit, or when you reload your account with money. Terms and conditions will apply, but are usually similar to the conditions that apply on welcome bonuses.
Rebates Bonus or Cash Back Bonus
A rebate, also known as a Cash Back provides cash rebates to traders on each “lot” they trade using their own trading capital. Different forex brokers offer different rebate rates, so you might have to check several brokers to get the maximum rebate available and Trading online
Some Forex brokers, such as XM.com offer up to 100% Rebate bonuses, while most provide a cash rebate of $2 to $3 per lot, however some can go as high as $10 per lot. XM.com offers these types of rebates.
What you need to look when you select a Rebate Bonus
- You should first check whether the Rebates are cash rebates or credit rebates
- You should determine the maximum amounts of rebates offered by the brokers
- You should check to see if the brokers are increasing the spreads when they offer the rebate
- If the rebate is a credit rebate, are they Margin credits (like Margin bonus) that can be used as equity or not
Cash rebates can be withdrawn at any time. If the brokers is providing credit rebates (such as $10 per lot) then you can use this increase your trading capital. Credits have conditions like Volume Bonus, but the advantage is that you can use this credits as margins with most forex brokers.
Best Binary Options Bonus in South Africa
The concept of an online trading bonus was introduced by startup binary brokers that didn’t have the resources that the well-established forex brokers had. These early Binary Brokers realized that the best and most effective way to get new clients to register with them and make deposits would be by offering them “free money”. Now it seems just about every type of options trading broker offers bonuses but it was these early Binary Options Brokers that actually introduced the idea of promotions and bonuses in the trading arena.
How to Select a Good Forex Brokers Bonus
The first thing you need to decide what type of bonuses is right for you. If you are new to forex trading, you would probably be best off going for a No Deposit Bonus in order to start trading risk free.If, on the other hand, you have more experience in trading , you’ll do well with a Deposit Bonus.
Advantages and Disadvantages of Forex Trading Bonus
Advantages of Forex Bonus
- Forex bonuses in sa increase your trading equity, giving you greater control over your account.
- you are able to trade with higher leverage.
- Margin Bonuses allow you to trade with the broker’s funds, and also be used at times of margin call.
- Rebate help to increase forex traders’ profits.
- No deposit bonuses are beginner friendly, gives newbie traders a chance to test the experience of real Forex trading
Disadvantages of Forex Bonus
- Apart from margin, other bonuses cannot be used as margins .once the equity goes below your deposited funds, then bonus will be removed automatically by the Forex brokers.
- No deposit Forex bonus have very high volume requirements with some brokers, which are really hard to meet.
- Sometimes the requirements of bonuses aren’t clear-cut, and you may end up losing equity (which is why it’s important to read the Terms and Conditions of all bonuses)
What other offers you can find on our site
1 – Forex Contests
Forex Demo Contests
These types of contests are very attractive, especially to new traders as you do not have to risk any money and you can gain quite a bit of experience in Forex Trading. You can win many different types of prizes in Forex Demo Contests, and many forex brokers offer cash prizes. These prizes can either be put on a live account or withdrawn, but rules and regulations vary from broker to broker.
Forex Live Trading Contest
With Forex Live trading contests, you not only work toward winning a prize, but you are also earning regular profits as well as you compete against other forex traders. The prize in live trading contests are generally much higher than in the Forex Demo Contests. This type of contest is recommended for experienced traders as traders are using actual capital, rather than virtual money.
2 –Webinars and Seminars
Our site provides you with a list of the best webinars and seminars available for forex traders to learn new strategies and give you an edge. If you are new to forex trading, you will find webinars specifically geared toward new users to build an understanding of what forex trading is, as well as provide you with key advice and tips to successfully trade in forex. There are also webinars and seminars geared toward seasoned traders, with advanced strategies and tips to help traders get the most out of their capital.
3- Forex Brokers Reviews
Forexbonus100 takes the time to research the best brokers on the internet to provide you with reviews of the top Forex Brokers . One of our main objectives on Forex bonus 100 is to provide traders with a good, Forex reviews of the types of Forex Brokers out there, offering the best bonuses as well as top notch customer service. If you find a good broker that has escaped our attention, that you think should be listed on our site, please drop us a line and let us know. We’ll research and review the site as soon as we can, to bring the best value to Forex Traders.
4- Forex Draw Bonus
Some Forex brokers offer free drawings that can allow traders to win great cash prizes, often available for immediate withdraw! Our site can provide you with a list of some of the best Forex Draw bonuses available. Note, however, that many of these draw bonuses come with restrictions and requirements, so be sure to note whether you meet those requirements in order to take advantage of these drawings.
5- Forex Forecast Bonus
Some brokers offer contests that require traders to make predictions or forecasts about prices or other values of forex trades. There are many different types of Forecast contests, and many different rules and requirements, but once you understand the rules this can be a pretty fun contest, as it’s usually free to enter and the prize money can be pretty substantial in some cases. All you have to do to win is make the most accurate forecast.
6 – Forex Rewards
In addition to great bonuses and contests, many brokers also offer rewards to traders who fulfill certain requirements or complete certain actions. The type of rewards and the requirements vary from broker to broker. Some brokers offer cash rewards or gift cards to traders for just signing up with them and becoming a live trader, while others offer reward points that can be earned by trading, watching videos and taking other actions. These points can then be turned in for prizes and often cash bonuses.
7 – Forex Refer a Friend Bonus
There are quite a few brokers who offer a bonus when you refer a friend to open a live account and make a deposit with the broker. This is an easy way to pick up some extra trading capital, especially if the broker is a great broker, as you’ll be doing your friend a favor as well as yourself. Different brokers offer amounts as well as have different requirements (such as your friend might need to make a minimum deposit or trade a minimum number of lots).
We list some of the best refer a friend type bonuses on ForexBonus100, with reputable brokers that you will be glad to share with your friend, and make a few bucks on the side.
8 – Gifts and Freebies from Brokers
Many Forex Brokers will offer gifts to it’s traders, which may come in the form of additional trading capital, cash (or gift cards), sometimes even hats, coffee mugs, and more material gifts. Most brokers also offer freebies to traders, which may come in the form of web tutorials, e-books, expert analysis, free webinars and other “gifts” to help you become a better trader.
Brokers have a vested interest in seeing you make profits as it only helps their brokerage when their traders do well in the market, so they are willing to do or give what it takes to get you, keep you and turn you into a great trader.
What should I check when choosing a bonus?
Before you sign up for a bonus with a broker you should first be sure that the broker is a legitimate broker with a history of satisfied traders. There are new brokers coming on the scene every day, and not all of them are legitimate. So, it’s important, when choosing a Forex broker bonus, that you take every precaution to avoid scams.
One way to avoid scamming brokers is by using forexbonus.co.za. We have already done the necessary research for you, and you won’t find a “scam” site listed here. However, you should ALWAYS read the terms and conditions for any type of bonus offered.
Sometimes the requirements for the bonus, while not fraudulent, are none-the-less outrageous. Of course, we make every attempt to weed out those types of brokers, but you should still always read the terms before signing on for any type of bonus.
Why it’s so important to read the Terms and Conditions
Even legitimate brokers sometimes have terms and conditions to their bonuses that makes it nearly impossible to actually ever even withdraw that bonus, such as making the required lots so high, it could take a newer (or even an established) trader years to actually meet the requirement, especially when making a deposit of less than $1000. You should read the fine print carefully to be sure you can actually meet the requirements to achieve the bonus.
Forex Trading (in a nutshell)
Forex (or Foreign Exchange ) trading is usually done through a broker or a market maker. As forex trader, you choose a currency pair, such as the U.S. Dollar vs the European Euro (USD vs EUR) and place your trade according to how much you expect the currency pair to change in value.
Forex trades can usually be placed with your broker in a few easy clicks, and your broker then passes your trade along to the Interbank Market, where a partner fills your position. When you are ready to cash out, you close your trade and the broker then closes your position on the Interbank Market and credits your account either to the negative or positive (depending on loss or gain)
Let us help you find the perfect Forex bonus
Forex bonus 100 is constantly researching the best brokers who offer the best Forex Bonuses as well as other incentives and freebies, to help you find the best possible forex brokers available. While there are other sites out there that list bonuses and promotions, it would be safe to say that most of them do not even research the brokers, or take the time to actually provide you with reliable forex brokers that offer great bonuses.
You really do not need to look any further if you are interested in trading. Forex bonus 100 has lists best Forex Brokers only here and see more at Forex trading Canada