Nowadays many brokers offering you a deposit bonus, but here’s why you shouldn’t take it. “Deposit $500 and we’ll give you 20% extra.” “We’ll match 100% of your initial deposit up to $2000!” Sound familiar right?
It’s tempting, After all, that extra money gives your new trading career a nice kick. BUT Please don’t take the forex broker bonus because there are terms and condition attached to it. When your money and bonus money get mix up it is hard to make a withdrawal when your account is below your deposits. This will complicate things as you will be force to trade your whole account away instead of exiting with minimal lost.
There may be some bonuses out there that are good, with minimal strings attached. Such forex broker bonuses are rare. Read the T&C, as each broker are different. As a general rule, Don’t take it! When you open an account explicitly state that you don’t want the bonus. Send an email or make a phone call if you have to. If some of their money makes it into your account, it will complicate things.