Bonuses have become part of online Forex ecosystem. Forex companies see a bonus offering as a go-to promotional tool to stand out in this highly competitive industry.
How to find the best bonus program?
Running a search on Google for the “best forex bonus” isn’t enough. Finding the best bonus program is a matter of common sense and some research. It might be tempting to take any “free money” offer, but you’ll have to look for trusted Forex brokers that have the right offers for you.
If you’re searching for a deposit bonus to boost your trading balance, this article may help you. We compare two Forex brokers that offer similar bonus offerings: FXPrimus 100% Deposit Bonus vs HotForex 100% Credit Bonus. We’ll explore and assess which broker offers a better bonus program with no heavy strings attached.
Before we get into the fine print of FXPrimus 100% Deposit Bonus and HotForex 100% Credit Bonus, let’s take a look first at which regulating bodies monitor their operations. Not all brokers today are properly regulated. Make sure that you only transact with well-regulated brokers as it’ll determine the level of safety and security of your investment.
Both FXPrimus and HotForex are regulated by the Cyprus Securities and Exchange Commission (CySec). CySec is known as a legitimate and reliable regulatory authority that penalizes brokers that fail to adhere to its rules.
HotForex also holds a license from the Financial Conduct Authority, the financial regulatory body in the United Kingdom.
A deposit bonus program requires you to make a minimum deposit set by the broker before you receive your bonus.
HotForex 100% Credit Bonus requires a $100 minimum deposit, while FXPrimus 100% Deposit Bonus sets the deposit requirement at $500. Both brokers offer 100% bonus – meaning they double your deposit.
|FXPrimus 100% Deposit Bonus||HotForex 100% Credit Bonus|
|Bonus Calculation||100% on $500||100% on 100%|
If you’re a beginner with a limited budget, or a seasoned trader who wants to test out another broker with less financial risk, HotForex’s 100% Credit Bonus might just be what you need.
The maximum bonus you can obtain via FXPrimus 100% Deposit Bonus is $10,000, while HotForex 100% Credit Bonus has a higher bonus limit of $30,000 per trading account. If you maintain multiple trading accounts, the sum of active bonus awarded for all your trading accounts can’t exceed $150,000.
Between the two, HotForex obviously offers a higher bonus amount, giving you more power to trade in large volumes.
Bonus received from FXPrimus can’t be withdrawn. Any withdrawal made from your trading account will result in the bonus credit being fully removed. Whereas, HotForex allows withdrawal from your trading account, although you will be subject to a proportionate removal of the bonus awarded.
For example, if you withdraw $100 from your account, $100 will be deducted from the 100% bonus amount that had been previously claimed. It’s also worth noting that HotForex allows bonus withdrawal if you meet the trading requirements.
Again, HotForex has the advantage here as it allows fund withdrawals without removing the entire bonus awarded to you. This reassures you that your day-to-day trading can still go smoothly.
Trading Requirement to Keep the Bonus
Both brokers don’t require you to trade a specific number of lots to keep the bonus in your trading account.
FXPrimus 100% Trading Bonus also comes with a cashback offer. For every 1.0 lot traded, the respective spread cashback (USD 4 or USD 2) or currency equivalent will be transferred from ‘Credit’ to ‘Balance’.
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