Author:Vishal Doshi
Date:02-11-2017

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Diffrent types of forex bonuses explained

Meaning:

Regular promotion given to registered and existing clients and new clients on the website of Forex trading market is called “Forex Bonus.” There is no commitment for such bonus other than having a legal registration on the website. There are different types of Forex bonuses. Some ask for deposits in your account to earn a bonus. Let us find out different types of bonuses:


  1. Welcome Forex Bonus:
    • The welcome bonus is only for the new traders.
    • If you are a regular and old customer, deposit bonuses are your only source.
    • New customers get an opportunity to test his or her Forex broker, with a limited sum of money given by the broker.
    • It has a lesser risk factor.
    • Forex Broker Policy determines whether the welcome bonus is a deposit bonus or no deposit bonus.
  2. Forex Deposit Bonus:

    • The deposit bonus is available for all types of clients in Forex market.
    • A bonus given on the amount deposited in the client’s Forex account is called Deposit Bonus. The condition is that the client needs to deposit money in his or her account.
    • Percentage (%) is the unit to calculate Forex Deposit Bonus.
    • For example, if you deposit 100$ in your account and 70% deposit bonus is available then you have 170 $ to deal in the Forex Trading Market.
  3. Forex No Deposit Bonus:

    • In no deposit bonus, your broker advises you for not depositing money in your account and to avoid unnecessary risk. But, it is your personal choice if you still want to deposit and trade on the website.
    • You earn prize money for making first trades on a particular website.
    • No deposit bonus is the best bonus type in Forex till date because of the biggest the fact that you have an opportunity to earn a profit on your trades without risking your finance.
    • On winning trade, you do not have to share your profits or pay anything in particular to your broker.
    • Even if you lose a deal, you do not have to pay anything to your broker.
  4. Pending Forex Bonus:

    • Pending Forex bonus is an amount which you do get as a bonus in your Forex account[1], but, unable to use unless you trade from your account on the website.
    • Brokers use this pending bonus for their new customers, who cannot earn a bonus in an initial trade. So, brokers always advise you to clear the particular trades and then to use your pending bonuses.
    • Pending bonuses are not much beneficial, and you should opt for more beneficial bonus options.
  5. Forex Reload Bonus:

    • Reload bonus ifs for regular clients of the website in Forex trading.
    • Recently active customers of Forex platform are also eligible for reloading bonus type.
    • Many reliable brokers issue up to 50% bonus on every deposit of his or her client.
    • Reload bonus is the best bonus type for the speculating traders who do trading all the time.
  6. Bonus for regular clients and special VIP bonuses:

    • If you are an old and a regular client you have to stay online on the website for a particular time and then ask for your VIP bonus.
    • You are paid special bonus for your experience.
    • To claim special bonus, you have to make your VIP account.
    • You will not get a special bonus on signing in any micro or any ordinary account.
    • VIP bonuses are very profitable, and customers are getting many benefits.
    • While opening an account on the website, you have to decide carefully that whether to open a VIP account or not.

Freebies, Volume bonus, Rebates, Rewards, Demo Contest, draw Bonuses, Live Contests, refer-a-friend bonus is other types of bonuses available in Forex market.

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Legality of Forex Trading in Malaysia:

Earlier Forex trading in Malaysia was completely banned. It was illegal to do trading in Forex in Malaysia. Imprisonment and heavy fines are charges, for anyone in Malaysia are caught trading in Forex business. However, over the passing years, Malaysia is slowly opening up to Forex business. There are still many complexes for legal, regulatory authority for Forex brokers in Malaysia.The central bank of Malaysia- The Bank Negara, administers the currency of Malaysia- Ringgit. The Security Commission of Malaysia manages and controls financial companies.Malaysia has not yet included Forex trading in its rulebook of the regulatory framework. Hence, no specific agency has come up with the regulation of Forex brokers.Retail traders of different fields in Malaysia have shown interest on a large scale in Forex business. In 1980’s the Bank Negara was active in the market and as a thereof, it holds a fair share of the Forex trading market. But, in 1994 because of overly hypothesizing and bailout, the Central Bank faced failures. As a result, the legality of Forex trading in Malaysia was in danger.Now brokers in Malaysia are now investing more and more funds. They are dealing in trades helping them earn huge profits.

Malaysian Forex brokers providing Deposit Bonus

Name Of The Broker Minimum Deposit Available Bonus(in %)
Plus500 First Deposit(up to £6,000) 25%
Lite Forex Every Deposit above $100(up to US $3,000) 30% non-stop bonus
Easy Markets First deposit bonus Up to 50% or the US $2000
Fortrade First deposit 30%
FXOpen $1 $1 bonus on deposit of $1
HotForex Every deposit over US $250 100% supercharged bonus up to US $50,000
HotForex Every deposit over US $100 100% credit bonus up to US $30,000
HotForex Every deposit over US $50 30% rescue bonus up to US $7,000

Best Forex Brokers in Philippines, 2017:

  1. Expert Option (Minimum trade– Rs.67, Bonus- up to 100%, Return rate- 92.76%)
  2. ayrex (Minimum Trade-Rs.334, Bonus-up to 95%, Return rate-91.48%)
  3. Binary.com (Minimum trade-Rs.67, Bonus- up to 90%, Return rate-89.72%)
  4. iq option (Minimum Trade- Rs.67, Bonus- up to 80%, Return rate- 87.69%)
  5. OptionRobot.com (Minimum Trade- Rs.67, Bonus-up to 80%, Return rate-86.24%)
  6. LQD fx (Gold Account) (deposit- $500, Leverage- 1:300, 0.8 pips EURUSD)
  7. AVATRADE (MT4 floating) (deposit- $100, Leverage- 1:400 , 1.8 pips EURUSD)
  8. easy Markets (Islamic MT4 account) (deposit-$100, Leverage- 1:400 , 4pips EURUSD)
  9. LCG (CFD Trading) (deposit- $10 , Leverage- 1:500, 0.95 pips EURUSD)
  10. eTORO (minimum deposit- $200, Leverage beginning 10:1 reaching to 400:1, FTD Bonus- up to 40%)
  11. TRADE.COM (minimum deposit- $100)
  12. OANDA (no minimum deposit)

calping Forex trading clients of 2017:

  1. AVATRADE
    Minimum Deposit- $100
    Deposit Bonus- 0
    Maximum Leverage- 1:400
    Regulation- CySEC, FSB
    Platforms- Proprietary Platform, Meta Trader 4
  2. FXCM
    Minimum Deposit- $50
    Deposit Bonus- 0
    Maximum Leverage- 1:50
    Regulation- ASIC, NFA, FCA
    Platforms- Web based, Meta Trader 4, Proprietary Platform
  3. FxPro
    Minimum Deposit- $500
    Deposit Bonus- 0
    Maximum Leverage- 1:500
    Regulation- FCA, MiFID, CySEC
    Platforms- cTrader, Meta Trader 4, Meta Trader 5, web based
  4. MARKETS.COM
    Minimum Deposit- $100
    Deposit Bonus- 0
    Maximum Leverage- 1:50
    Regulation- FSB, CySEC
    Platforms- Meta Trader 4, Proprietary platform
  5. FOREX.COM
    Minimum Deposit- $250
    Deposit Bonus- 0
    Maximum Leverage- 1:50
    Regulation- IIROC, FSA, SEC, SFC, ASIC, CFTC, FCA, NFA
    Platforms- Meta Trader 4, Proprietary platform
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BEST Forex trading software

Automated Trading Software is the best. Any Forex trading software is the link between the clients and their broker. If the broker is a market maker, the trading software becomes a link between the trader and his broker, in the retail Forex market. In the case of STP (Straight–Through Processing) and ECN[2] (Electronic Communication Network), the trading software will connect the trader to his broker and then top the market. Automated trading software removes the psychological and emotional barriers of human nature while making important decisions of trading. It allows you to make consistent decisions. It is the best option for traders who trade by specific currency spreads. Auto Forex trading software is highly effective because inconsistency of prices is obvious, so the software reads the changed information immediately and executes the trade. According to the programming language, Metaquotes Language (MQL), is used to develop MetaTrader 4 and MetaTrader version 5 in MetaTrader Platform. ActFx language supports a software called ActFx. TradeStation software is using EasyLanguage Programming Language. The NinjaTrader platform utilizes NinjaScript Programming Language. The automated trading software has inbuilt trading signals in forms of charts and indicators. Traders can easily shift from desktop to mobile or mobile to other web versions. Currenx Classic System works with desk platform. The cTrader software directly accesses the currency markets. Brokers who want to work as market makers offer Dealing-Desk software. Brokers issue prices by using Dealing-Desk Software. In ECN Software prices are not issued by the brokers, but, many Liquidity Providers issue prices. You can see all the prices on the terminal. Traders are allowed to choose price suitable to their trading model the best. Large Financial Institutions use software such as cAlgo, cTrader, Currenex Viking and much more.

How to search for secure and trusted

  • Financial Conduct Authority (FCA) regulates the Forex trading. FCA is the regulator of the financial service industry in the United Kingdom (UK).
  • A regulated broker needs to follow regulations and rules, compulsorily.
  • The government selects such specialized agencies on a national level. These agencies look after the broker’s official license required for listing on the market.
  • In the absence of a license, the broker can be a scammer. For example, brokers registered under CySEC in Cyprus are regulative brokers.
  • A secured broker always works with a reputed company. A specific finance provider hires brokers. So, the image of finance provider in the market is equally important.
  • Fraudulent brokers offer very high bonuses to trap clients.
  • Even brokers who are losing their clients because of their poor performance, offer huge bonuses to save his current customers and does promotions exclusively.
  • A reputed and good broker provides different modes of payment. Payment modes have a direct impact on your investments as well as profits.
  • Reputed brokers do not charge any extra amounts as fees on deposits or withdrawals.
  • A good broker helps newbie searching for a tutorial and automatic signals and a particular site of live streaming for well-experienced clients.
  • A secured broker will provide you the most reliable software for his clients.

Following are the top rated brokers of Forex Market in 2017:

Name of Broker Minimum Deposit Bonus(in %) Regulation
ETX CAPITAL $100 $20 no deposit FCA UK
Forex4you $100 25% FSC
ufx $50 $50 free CYSEC, MIFID
ITRADER.COM $250 Up to $30,000 PER T&C CYSEC
eTORO $50 Up to $1,000 CYSEC, FCA
easyMarkets $200 50% CYSEC
instaForex $1 250% FFMS
#freshforex $1 35% CRFIN
HotForex $50 100% CYSEC
HotForex Every deposit over US $250 100% supercharged bonus up to US $50,000
HYCM $50 $5000 FCA
FIBO GROUP $300 NA CYSEC
FBS $1 $123 FREE IFSC
TRADE.COM $250 $25 No deposit CYSEC
Plus500 $100 $25 no deposit bonus per T & Cs CYSEC
XM $5 $30 FREE CYSEC
XTRADE $100 $20 FREE CYSEC
AVATRADE $100 40% MIFID
xTb $250 Up to 30% REBATE FCA

White label Meta Trader 4/ Meta Trader 5 platform:

Monthly Fees for different types of MT white label:

  • MT4 Desktop- $2000 per month
  • Mt4 Desktop & MT4 Mobile (iPhone + Android) & Web Trader- $3500 per month
  • MT4 Desktop & MT4 Mobile or Web-Trader- $3000 per month
Steps to get started with White Label MT4/ MT5:
  1. You have sent an email requesting for White Label to info@mt4whitelabel.net
  2. It will answer your request within one business day.
  3. You have to obtain a customized MT4 terminal with the details like name of your company, your company’s logo, to offer services to you clients in your brand label.
  4. Now you are the authority of your personal Forex brokerage. Hence you will decide about clients, a commission that you want to charge to your clients and special schemes that you want to recommend to your clients.
  5. You can choose anyhow the below license according to your business requirement:
  6. Entry License:

    • Functional System Delivery Plan for start-up and small companies.
    • Service of 1000 real accounts.
    • Standard License:
    • It offers 25000 real accounts by default.
    • It is a cost-efficient standard system delivery plan.
    • It is helpful for medium and large sized companies.

Enterprise License:

  • It is a cost-effective ultimate system configuration plan.
  • It offers 20000 real accounts by default.
  • It is specially formed to satisfy the requirements of companies with heavy duties.
  • It consists a set of high-performance trade servers.
  • It provides scaling a big level and also provides distributed trade processing power.
  • All these features are available in one system to reinforce all business operations.

Best Forex mobile platforms:

Following brokers provide services through the Android app, ios app, tablets and also provide service to an online demo account, as per the year 2017:
ETX CAPITAL CORE SPREADS Plus500
MARKETS.COM AVATRADE InterTrader.COM
Forex.com FXCM E SOCIAL TRADING


Characteristics of mobile trading Advantages of mobile trading
Real-Time News Feeds. You can get the latest information about the Forex market.
Real-Time Live Streaming Quotes. You can make deals anywhere and anytime possible.
Charting Indicators. You have an opportunity to improve your success rate.
Customer Service Support.
Real-Time Charting.

Social Trading

Meaning:

A process wherein users generate financial information collected from different financial websites, for traders interested in Forex, to help them make financial decisions, is called Social Trading[3].

Advantage:

  • An easy comparison is possible between different financial trades, strategies, and techniques. Investors can refer data-feeds of other traders in the market.
  • Social trading helps new traders to take guidance from an old and experienced trader of Forex market.
  • Investors can observe the financial decisions made by the traders who have a success rate. Traders can learn about reliable trading strategies.
  • Many trading platforms disclose statistics of their performance and reveal comparison between their current and past positions.
  • Trading brokers also estimate the credibility of their investors to make information more reliable to attract more investors.