One of the most attractive bonuses that you can get from a broker comes from the loyalty program. Find out how it works and which brokers provide it below.

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Like any other business, many forex brokers try to gain more clients by offering various bonuses and rewards. Most traders are also typically interested in these offers and put them into consideration when choosing a broker. One of the most beneficial bonuses is called the loyalty program, which refers to the program offered as a reward for the clients' loyalty. These bonuses can come in many forms such as cash rewards, gifts, lower spreads, bonuses, commissions, etc.

Traders can earn various rewards from a loyalty programs.

 

How It Works

Basically, a loyalty program is designed to keep traders satisfied so they continue to invest their money in the broker. This is mainly because forex brokers need clients to keep their business going. In the grand scheme, a broker can only earn money through spreads and commissions.

If the broker keeps their clients' funds in a segregated account, they won't be able to use the money to cover the company's operational costs or other financial needs. Therefore, the broker needs to keep encouraging the clients to fund their accounts and trade. So to return the clients' commitment and loyalty, the broker offers a reward through the loyalty program. Such rewards are expected to entice traders to deposit more money and enjoy the benefits of trading, instead of switching to a new broker and lose their hard-earned loyalty rewards.

how forex broker bonus works

However, traders should not be mistaken loyalty program with a forex rebate. The most notable difference between the two lies in the potential to increase the bonus amount.

In the forex rebate, the bonus amount per transaction will stay the same from time to time. Whereas in the loyalty program, you can get bigger bonuses after reaching a certain number of trades, deposits, or transaction volumes. Therefore, the more loyal the trader, the greater the reward that the broker provides.

Take note that each broker has different categories and loyalty levels. Some measure the trading loyalty based on how long the trader has been trading with the broker, while some others appreciate its traders based on the lot size traded or the number of deposit funds. As long as one's account is active and they regularly trade with the same broker, then they will be qualified to receive the loyalty program.

If we break it down, the advantages of using a broker with a loyalty program are as follows:

  • You can earn regular bonuses as long as you're active. Unlike deposit bonuses, which can only be obtained when you deposit funds, you can get rewards from a loyalty program by what you usually do in forex trading.
  • Usually, the program only requires you to open an account without any additional request or submission procedures.
  • The bonus withdrawal is normally achievable by common standards.
  • It can add to your trading benefits.
  • This doesn't require much of your attention because you have to trade as usual and receive the bonus afterward, in contrast to deposit bonuses, which can actually affect your trading decisions because it requires you to fulfill a certain trading quota.

However, despite all of those advantages, there are some downsides to the loyalty program. While forex rebates and other bonuses are typically given directly in the form of trading credits, cash, or extra pips, the loyalty program is usually rewarded in the form of points that can be redeemed with certain bonuses such as cash, deposit bonuses, or gifts.

The broker will have detailed instructions on how traders can accumulate the points and how to redeem them. Like any other promotional program, every client is expected to comply with the guidelines to prevent misuse. The broker can ban traders who violate the rules, and all points will be taken away. So keep in mind that although it is very easy to enter the loyalty program, the benefits cannot be acquired directly.

Another unfortunate aspect of loyalty programs is that not many brokers provide them. Usually, loyalty programs are offered by legitimate and high-quality forex brokers because it is considered safer than deposit bonuses that can create conflicts between the broker and its clients due to the conditions. Scam brokers rarely offer loyalty programs because they would prefer to offer hefty bonuses and unrealistic promotions to gain more clients. Gaining clients is probably the only thing they care about, so they wouldn't do anything to repay the loyalty and money they've earned through honest means like loyalty programs.

See Also: Recognizing Forex Broker Scams

scam forex broker

However, you can't judge a broker based on the loyalty program alone. Brokers that don't offer a loyalty program are not always a scam. Several legitimate forex companies might choose not to impose too many bonuses and rewards to their traders. Instead, they mostly concentrate on providing better technology and trading conditions to satisfy their traders.

 

Forex Brokers Offering Loyalty Program

Even though there are not many of them, forex brokers with loyalty programs are still available and some of them are quite well-known among retail traders. Here are some examples that may make it into your list:

 

1. XM

 
Website
www.xm.com
Spread
Variable
Regulation
ASIC, 443670

Min Deposit
$5
Established
2009


Interest rate on funds

Bonus offers

Free education

Personal manager

Trading by telephone

Segregated accounts

Affiliate program

Islamic accounts available

Requires sending documents via postal mail

Payment

CashU
Credit/debit cards
FasaPay
giropay
iDEAL
Moneta.Ru
Neteller
paysafecard
QIWI
Skrill
SOFORT
UnionPay
WebMoney
Western Union
Wire transfer

Established in 2009, XM is a member of an online brokerage company called Trading Point of Financial Instruments Ltd. In providing clients on a global scale, the company has branched into XM Australia and XM Global, and XM Cyprus. Each member has different headquarters and licenses, with XM Australia registered under the Australian Securities and Investment Commission (reference number: 443670), XM Global under the IFSC (60/354/TS/19), and XM Cyprus under the Cyprus Securities and Exchange Commission (reference number: 120/10).

XM is one of the more experienced brokers in the world of online forex trading today. Since its founding, the broker has experienced a lot of changes, including the addition of the Ultra-Low Account and Webinar feature that is accommodated in 19 different languages with 35 native instructors for each language.

In terms of trading instruments, XM is a well-known diverse class assets provider, varying from Forex, Commodities, Equity Indices in CFDs, Precious Metals, Energies, to Shares. XM prides itself to be the ideal broker in trading execution, offering a stat of 99.35% orders to be executed in less than 1 second. Trading in XM would be also provided with a strict no requotes policy, no virtual dealer plug-in, no rejection of orders, real-time market execution, and the choice for traders to place orders online or by phone.

Spreads on all majors can reach as low as 0.6 pips in Ultra-Low Account, while spreads on other accounts usually start from 1 pip. Instead of providing maximum leverage on the scale of 1:500 or 1:1000 (round numbers), XM chooses to limit their leverage on a 1:888 scale, a unique number that is now widely recognized as XM's trademark.

To protect the client's fund in the event of extreme volatility, XM presents each account type with Negative Balance Protection. The deposit starts from $5 in Micro and Standard Account, while Ultra-Low Account requires a minimum deposit of $50. Traders who open accounts in XM are enabled a condition similar to a Cent Account environment in the Micro Account, in which the Contract Size for every lot is only 1,000 units. If it is applied with the smallest lot size in the MetaTrader platform which amounts to 0.01, it means that traders can go as small as 10 units per trade.

For the deposit, XM applies zero-fee deposits in most of its available payment methods. Traders can choose to fund or withdraw their accounts via wire transfer, credit card, as well as the most favorable e-payment choices like Skrill, Neteller, and FasaPay.

XM also provides an Islamic Account for Muslim Traders obligated to Sharia Law that prohibits the use of interest generated by overnight swaps for each currency pairs. To give their clients the best experiment in trading, XM has given access to both MT4 and MT5 platforms, each is available for more than 6 display formats (PC, Mac, Multiterminal, WebTrader, iPad, iPhone, Android, and Android Tablet).

All in all, there is no doubt that XM has gone global with its deep commitment to providing trading services in more than 15 languages around the world. Aside from easing traders' experience with mainstream trading platforms and high-quality trading execution, XM is open to various types of traders, from small capital traders to the more experienced ones with big deposits at the ready. Traders are even provided with a Cent Trading environment should they choose to register under Micro Account.

The loyalty program in XM has been a longstanding promo by this broker. In this program, traders will be divided into four loyalty levels, which are only determined by the consistency of trading within a certain period of time. Every trader will start at the first level, and then they will be upgraded after they maintain their trading consistency in the early 30 days after the account opening. The rewards will be given in the form of loyalty points that can be redeemed into credit bonuses.

Conveniently, traders who want to earn the benefits from this program don't need to apply any submissions because it will be automatically applied to all clients. So traders will immediately get the loyalty status as soon as they open a new trading account in the broker.

 

2. InstaForex

 
Spread
Fixed
Regulation
-

Min Deposit
$1
Established
2007


Interest rate on funds

Bonus offers

Trading contests

PAMM accounts

Affiliate program

Islamic accounts available

Payment

AliPay
Bitcoin
Credit/debit cards
Litecoin
Neteller
Skrill
SOFORT
Tether (USDT)
UnionPay
Wire transfer

InstaForex is an international broker that provides trading services to traders globally. Since it was founded in 2007, InstaForex has provided for clients from various countries as many as 7 million traders. Based in Kaliningrad, Russia, InstaForex always attempts to improve the quality of the company in order to captivate the hearts of their clients.

Their hard work can be proven, one of which is by achieving a variety of awards, including Best Forex Cryptocurrency Trading Platform 2018 by UK Forex Awards, Best ECN Broker Asia 2018 by IBM, Forex Broker of the Year for Eastern Europe 2018 according to le Fonti Awards, Development, and Success award at Financial Olympus 2016-2017, etc.

There are 4 types of account offered by InstaForex representing a universal trading tool that help to work on international financial markets, such as Insta.Standard, Insta.Eurica, Cent.Standard, dan Cent.Eurica. Trading account types differ by the methods of accounting spreads and commissions, which are picked by the trader opening an account.

Insta.Standard account is relevant for standard trading terms on the Forex market and allows a trade to be settled with classical spread and with no fees. Traders will be charged a fixed spread every time they make a transaction. Spreads that are provided ranging from 3-7 pips. The main advantage of this type of accounts is its universality, as a trader can change the trading leverage and work with a deposit size convenient for traders.

Different from Insta.Standard accounts, Insta.Eurica accounts do not require payment of any spread on opening a deal. Therefore, this type of InstaForex account is suitable for beginner trader with a minimum transaction of 0.01 lots.

There are also other types of accounts InstaForex, namely Cent.Standard and Cent.Eurica which can be used for beginner traders because they can use the minimum transaction volume, which is 0.0001 lots (the cost per lot is USD0.1 cent). Deposit currencies that can be used by traders are EUR and USD (for all types of accounts).

Trading in InstaForex is quite a given as traders can choose to trade with leverage between 1:1 to 1:1,000. With a minimum initial deposit requirement of only USD1 (for all types of accounts), InstaForex clients have the opportunity to get a 30% to 100% deposit bonus.

Not only that, but beginner traders are also exempt from confusion in determining forex trading strategies. Because Instaforex provides ForexCopy services that allow traders to copy orders from professional traders in just a few minutes.

And then, there are around 300 trading instruments offered by InstaForex for traders. In addition to currency pairs, there are also futures, shares, gold, silver, CFDs, Bitcoin, and others.

Every InstaForex client is free to choose a trading platform that can be tailored to their needs. There are four types of trading platforms available, including InstaBinary, WebIFX, MetaTrader4, and MetaTrader5. Each platform has advantages and disadvantages. InstaForex also provides video tutorials on how to register on each platform. It aims to make it easy for beginner traders who want to join InstaForex.

If a trader still confused after seeing the video tutorials, traders can contact customer service available 24 hours connected to various social media, including email, Skype, Whatsapp, Telegram, Viber, Twitter, and Phone Call. On the InstaForex website, there are around 30 languages provided to facilitate traders from various countries.

The trader can also help themselves with trading calculators provided on the InstaForex website. Traders can accumulate currency pairs, Leverage, volume, and currency used.

The payment system in InstaForex is also diverse. Traders can pay deposits via Visa, Mastercard, Skrill, Neteller, PayCo, as well as Wire Transfer. All in all, InstaForex is a well-rounded broker for many types of traders.

One of the eminent global forex brokers, InstaForex also has a promotion program similar to a loyalty program. Although it is not as popular as the deposit bonus or startup bonus offered in their promotions, this campaign is actually quite promising and beneficial for traders.

The InstaForex Club is essentially promoted as an elite club, but in reality, it isn't that exclusive. Any trader can join the program with the requirement of a $10 registration fee. Each member will then receive a membership card and PIN number to confirm their participation.

In joining the program, traders can get various benefits, including a bonus of up to 10% for each deposit, a lottery ticket with prizes like luxury cars, a trading contest for members only, and an annual prize of over $500,000. Other than that, the club also provides bonuses according to the loyalty level of the members. InstaForex measures the traders' loyalty based on the account surplus, which refers to the total balance since the member joined the club. The InstaForex loyalty program's smallest bonus is ranging from 1% per $500 surplus to 10% once the balance reaches $15,000.

 

3. Admiral Markets

 
Spread
Variable and Fixed
Regulation
ASIC, 28381

Min Deposit
$100
Established
2001


Bonus offers

Trading contests

Free education

Trading by telephone

PAMM accounts

MAM accounts

Segregated accounts

Affiliate program

Islamic accounts available

Payment

Bitcoin
Credit/debit cards
iDEAL
Neteller
PayPal
Skrill
SOFORT
Wire transfer

Admiral Markets is a forex trading company offering worldwide service for clients around the world. In doing so, the company has branched into three main entities: Admiral Markets UK Ltd (registered in England and authorized by the Financial Conduct Authority), Admiral Markets Cyprus Ltd (authorized and regulated by the Cyprus Securities and Exchange Commission), and Admiral Markets Pty Ltd (holds an Australian Financial Services Licence to carry on financial services business in Australia).

Being regulated under the three most popular jurisdictions in the forex trading industry, Admiral Markets has been operating for 18 years and counting. The company offers four different accounts classified by the platform trading used. For MetaTrader 5, there is Admiral.MT5 and Admiral.Invest, while MetaTrader 4 allows clients to choose between Admiral.Markets and Admiral.Prime accounts.

Here is the more detailed information on all Admiral Markets' account types:

Admiral.MT5

  • Minimum deposit: $100
  • Leverage: Up to 1:30 for retail clients, up to 1:500 for pro clients
  • Spread: From 0.5 pips
  • Commissions: From 0.01 USD per share (for single share and ETF CFDs)
  • Execution type: Market execution

Admiral.Invest

  • Minimum deposit: $1
  • Leverage: None
  • Spread: From 0 pips
  • Commissions: From 0.01 USD per share (for stocks and ETF CFDs)
  • Execution type: Exchange execution

Admiral.Markets

  • Minimum deposit: $100
  • Leverage: Up to 1:30 for retail clients, up to 1:500 for pro clients
  • Spread: From 0.5 pips
  • Commissions: From 0.01 USD per share (for single share and ETF CFDs)
  • Execution type: Market execution

Admiral.Prime

  • Minimum deposit: $100
  • Leverage: Up to 1:30 for retail clients, up to 1:500 for pro clients
  • Spread: From 0.5 pips
  • Commissions: from 1.8 to 3.0 USD per 1.0 lots (for forex and metals)
  • Execution type: Market execution

Unlike many other well-regulated brokers, Admiral Markets is very thorough in providing trading specifications for clients. It is also generous in offering trading variations, as well as extra features like MetaTrader Supreme Edition Add-On, One-Click-Trading, Volatility Protection Settings, Market Depth (Level II Pricing), the ability to trade with Expert Advisors, and a handful of analytical features. Admiral Markets has partnered with Trading Central and Dow Jones Market News & Analysis to offer the best and most updated information for traders.

Trading instruments in Admiral Markets range from currencies, cryptocurrencies CFDs, spot metal CFDs, Spot Energy CFDs, index futures CFDs, cash index CFDs, stock CFDs, and bond CFDs. This broker accommodates a variety of base currencies for the trading account that includes EUR, USD, GBP, CHF, BGN, CZK, HRK, HUF, PLN, and RON.

For deposits and withdrawals, clients are provided with at least three types of payment methods to choose; bank transfer, credit cards, and e-payments. The majority of deposit methods enable instant payment, while the withdrawal process does not take more than 3 business days.

Admiral Markets is notable for its resources, both for analytics and education purposes. In addition to basic analytical features mentioned in the previous part, this company goes further by offering informational tools like Market Heat Map, Market Sentiment, and Cryptocurrency Bubble-O-Meter. Its initiative to equip its clients with well-prepared understanding is also shown in the way the education category is filled with in-depth articles, video tutorials, forex and CFD seminars, webinars, trader's glossary, zero to hero program, and forex 101 courses.

To conclude, Admiral Markets offers a complete package of education and live trading with advanced features. Its financial security is also guaranteed by its compliance with top regulators in the UK, Australia, and Cyprus.

The loyalty program in this broker is called the Admiral Club. Although it seems exclusive, the program actually applies to all traders who open an account at the broker. Just like XM's loyalty program, the rewards will be given in the form of points that later can be exchanged for cash. Basically, the reward scheme is similar to the forex rebate because it only applies to transactions that have been closed. The range varies from 1 point for every closed trade of 0.01 lot, up to 100 points per 1 standard lot.

 

4. HotForex

 
Spread
Variable
Regulation
CySEC, 183/12

Min Deposit
$5
Established
2010


Bonus offers

Trading contests

Free education

Personal manager

Trading by telephone

PAMM accounts

Segregated accounts

Managed accounts

Affiliate program

Islamic accounts available

Payment

Credit/debit cards
Neteller
Perfect Money
Skrill
WebMoney
Wire transfer

HotForex is an award-winning forex and commodities broker. Established since 2010, the company provides trading services and facilities to both retail and institutional clients. For more than 9 years in business, HotForex has around 1,500,000 live accounts opened and 200 employees globally.

Based on its services, HotForex can be regarded as middle-class category. Clients do not need to prepare a big deposit for joining to trade in this broker. Also, there are various accounts types, trading softwares, and tools to facilitate individuals and institutional customers to trade forex and CFD online.

HotForex is a registered brand name of HF Markets (Europe). Based on the location, the company is regulated by various financial regulators. Here are the details:

  • HF Markets (SV) Ltd, registered in St. Vincent & the Grenadine as an International Business Company with the registration number 22747 IBC 2015.
  • HF Markets (Europe), authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC) with Licence Number 183/12.
  • HF Markets SA (PTY), authorized and regulated as a Financial Service Provider (FSP) from the Financial Sector Conduct Authority (FSCA) in South Africa, under the licence number 46632.
  • HF Markets (Seychelles), incorporated under the laws of the Republic of Seychelles with registration number 8419176-1, regulated by the Seychelles Financial Services Authority (FSA) under Securities Dealer Licence number SD015.
  • HF Markets (DIFC) Ltd, authorised and regulated by the Dubai Financial Services Authority (DFSA) under licence number F004885.
  • HF Markets (UK) Ltd, authorised and regulated by the Financial Conduct Authority (FCA) under firm reference number 801701.

If traders have more experienced, knowledgeable, and sophisticated trading environment, they can join to become Professional Clients, who can manage and assess their own risk. For that reason, this kind of clients are granted access to more favorable rates but afforded with lesser regulatory protections than of retail clients.

Trading with HotForex can enable traders to access a variety of trading instruments like CFDs on Forex, Cryptocurrencies, spot metals (gold, silver, and others), energies (oil and gas), commodities (such as coffee, copper, and sugar), indices, bonds, and popular shares such as Google, Apple, and Facebook.

HotForex offers some of the tightest spreads in the market, starting from 0 pips in Zero Account. This broker quote major foreign exchange currency pairs to five decimal places. Therefore, traders have the opportunity to get more accurate in pricing and the best possible spreads.

HotForex receives numerous highly prestigious titles, including the huge honor of being selected to join the ranks of the World Finance Top 100 Global Companies. Others are Best Client Funds Security Global by Global Brands Magazine, Best Global Forex Copy Trading Platform by Global Forex Awards 2019, Fastest Growing Forex Broker Mena 2019 by International Business Magazine, and many more.

After opening an account in HotForex, traders will obtain various forex trading platforms to accommodate all of their trading demands. Whether traders like to trade from desktop or prefer to trade on-the-go, they can use MetaTrader 4 in desktop (terminal, multi-terminal, and web terminal) and phone (iPhone, iPad, and Android).

Clients’ funds are held in segregated accounts. Only major banks are used by HotForex because they believe that successful traders have to give their full attention to their trading rather than worrying about the safety of their funds.

Traders do not need to worry about transaction fees when depositing and withdrawing. Transaction fees are not charged, and diversity of payment methods enable them to choose between Wire Transfer, Bank Card, and online payments (Neteller, iDeal, Sofort Banking, and Skrill). HotForex ensures that traders make fast transactions 24/5 during the standard hours.

Traders can earn extra income by joining the affiliate program offered by HotForex. Clients who join this program will get some advantages, such as 60% of Net Spreads based on the volume traded by sub-clients, up to $15 per a lot of net revenue, and many more. More information about HotForex can be obtained on their official website which is supported in 27 languages.

From the review above, it can be concluded that HF Markets is one of the award-winning forex and commodities brokers. There are various account types traders can choose in HotForex, and the broker itself becomes a favorite among traders for its low spreads. This condition is very suitable for traders with limited funds and a desire to get more opportunities to gain maximum profit.

The loyalty program in HotForex is relatively new compared to other brokers. The broker divides traders into four levels of loyalty based on trading consistency. Traders can level up from Red to Silver status after 31 days of active trading, and to upgrade to the highest level (Platinum), traders must actively trade for at least 105 days.

Like the previous brokers, HotForex also uses exchange points, but the difference is that the points will be rewarded in bars, which are worth $1 for every 35 bars. If you are on the Red level, you will get six bars per lot, and after you reached the Platinum level, you will get 12 bars per lot.

Moreover, those bars can also be obtained in other ways; the broker will award you 100 bars if you deposit $300, and 170 bars will be given if you can invite a friend to trade at HotForex. Not only cashable, but the bars can also be exchanged for various other benefits such as Autochartist subscriptions, free VPS access, and private sessions with HotForex analysts.

See Also: 10 Brokers to Trade with Autochartist

 

5. Weltrade

 
Spread
Fixed and Variable
Regulation
IFSC (Belize), IFSC/60/350/TS/15-16

Min Deposit
$25
Established
2006


Interest rate on funds

Bonus offers

Trading contests

Free education

Personal manager

PAMM accounts

Managed accounts

Affiliate program

Islamic accounts available

Payment

Bitcoin
CashU
Credit/debit cards
EasyPay
Ethereum
FasaPay
Liqpay
Litecoin
Neteller
Perfect Money
QIWI
Ripple
Skrill
Wallet One
WebMoney
Wire transfer

The loyalty program in Weltrade is open to all verified real account traders and is organized into five levels that are based on the size of the trading lot. Traders can experience their first upgrade after they've collected a total trade size of 5 lots. The rewards are given in rebates ranging from $0.25 to $2 per 1 standard lot. The rewards will be given per every transaction, no matter if you close your trade with profit or loss.

 

6. FXTM

 
Spread
Variable and Fixed
Regulation
CySEC, 185/12

Min Deposit
$10
Established
2011


Bonus offers

Trading contests

Free education

Personal manager

Trading by telephone

Segregated accounts

Affiliate program

Islamic accounts available

Payment

Bitcoin
Credit/debit cards
DIXIPAY
FasaPay
Neteller
Perfect Money
QIWI
Skrill
UnionPay
WebMoney
Wire transfer
Yandex.Money

FXTM was initially launched in 2011 with a unique vision to provide unparalleled superior trading conditions. Opening an account in FXTM would also bring about access to advanced education and sophisticated trading tools in the forex industry.

Now, FXTM is registered under the Financial Conduct Authority of the UK with the number 600475. The company is also regulated by the Cyprus Securities and Exchange Commission with CIF license number 185/12, and is licensed by the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP No. 46614

FXTM has 1 million registered accounts with more traders joining every day. The company continually tries to improve their performance and have got many awards such as Best Trading Experience 2019 by World Finance Awards, Best Online Forex Trading Company Nigeria 2018 by International Finance Awards, Reputable Investor Education Forex Broker Award 2018 by Hexun.com, Forex Brand Of The Year China 2018 by Fxeye.Com, and many more.

As a responsible broker, they determine leverage (expressed as a ratio of transaction size relative to trader's buying power) according to the trader's level of knowledge and experience in trading, which is evaluated by the Appropriateness Assessment. The company also enables trading with leverage up to 1:1000.

As for spreads, FXTM offers low spreads starting from 0.1 pip, so traders can withdraw profits at the start of trading. The company, which has headquarters in several countries, uses No Dealing Desk (NDD) technology and partners with credible liquidity providers to provide the best bid and ask prices.

For beginners, there is an automatic trading facility called algorithmic trading provided. When trading in FXTM, traders can develop their trading strategy or adopt other traders' strategies. Furthermore, the strategy is applied to automated trading systems, such as Expert Advisors. The purpose of this system is traders do not have to worry about losing opportunities while not observing the market so that profits can still be earned.

Three types of ECN accounts use the MT4 and MT5 trading platforms. There are also mobile and Tablet Apps trading platforms. Aside of providing many account variants, FXTM goes above and beyond to ensure that their client receives excellent support that they deserve, making their trading experience optimal and user-friendly.

FXTM also provides a diverse range of products. In addition to over 50 currency pairs, they provide gold, silver, CFD on commodity futures (oil), CFD on ETFs, and indices.

Education about the basic concepts of the forex industry is also accessible in this broker. Traders can read all the concepts provided in the form of e-books, video tutorials, articles, webinars, and forex seminars. There are 17 languages provided on the FXTM website to make it easier for traders to learn about forex.

Traders are also given various choices for payment methods, including Credit Cards (Visa, Mastercard, Maestro) and E-Wallet (Neteller, Skrill, Western Union). For withdrawing funds, traders are not charged a fee with a length of 2 hours to 2 days. Traders can live chat to ask further questions and contact the admin via email. There is also a question and answer page about forex trading on FXTM.

Unlike most forex brokers, FXTM's loyalty program will give you direct prizes without accumulating points. The system is that traders can get withdrawable rebates every week, with a prize value of up to $5 per $10,000 transaction size. There are five loyalty levels provided with the minimum trading reward of $2.

 

7. AGEA

 
Spread
Fixed and Variable
Regulation
-

Min Deposit
$1
Established
2005


Bonus offers

Trading contests

Free education

Affiliate program

Islamic accounts available

Payment

Credit/debit cards
FasaPay
Neteller
PayPal
Perfect Money
QIWI
Skrill
TrustPay
WebMoney
Wire transfer

There is no more reason for traders to consider deposit conditions as an obstacle when opening a trading account, at least in AGEA. This broker provides a No Deposit program for new traders, so they no longer need to prepare any money as a deposit. The amount of free funds is $5 and is specifically given to Streamster clients. Besides, AGEA also provides $10,000 as virtual money. The purpose of these funds is to practice trading.

Another advantage traders can receive from AGEA is low spreads. The lower the spreads set by the broker, the higher the chance for traders to earn more profits. AGEA also provides a trading facility in the form of swap-free. All trading accounts registered with AGEA are free from swap fees. This facility is certainly very suitable for beginners and professional traders.

Facilities offered by AGEA to help clients make the company one of the most trusted brokers among traders from all over the world. This broker is registered with the company name of AGEA International AD. Since founded in 2005, AGEA has its headquarters in Montenegro, Southeast Europe.

The head office's position in Montenegro helps AGEA to be regulated by the Market in Financial Instruments Directive (MiFID). To ensure its service quality, AGEA is working continuously with legal and compliance experts so that they are fully compliant with relevant local and international laws and regulations.

Traders' convenience also increases with the security of funds AGEA. Clients' funds held by AGEA are maintained in separate bank accounts at local and international banks, in line with relevant laws and regulations.

AGEA provides its services through several trading platforms. One example is AGEA's proprietary platform, Streamster. In this platform, traders will get a comfortable and simple trading experience. Streamster is also a powerful platform that has its API for algorithmic trading. The interface of Streamster is considered as user-friendly and easy to use. On a Streamster account, traders can trade with a leverage of 1:100.

Besides the Streamster platform, AGEA also provides MetaTrader 4. It is a programmable trading platform intended for use by traders who understands how to code. It provides the necessary tools and resources to analyze the price dynamics of financial instruments and is integrated into Expert Advisors. Besides currency pairs, traders can trade with other instruments, such as CFDs, Gold, and Silver.

The process of opening an account at AGEA is easy and fast. Traders only need to fill out a registration form online. It takes 5 minutes to fill out the form, then provides due diligence documents before trading.

Processing speed can be found when depositing and withdrawing. AGEA is known as the broker that has the most smooth system in the payment process. They provide various methods of deposit and withdrawal, including Credit Cards, Skrill, Neteller, FasaPay, WebMoney, Wire Transfers, and many more.

When joining AGEA, traders can also find unique partnership programs while receiving additional benefits. The program is called the Affiliate Program. AGEA's partners can refer clients to AGEA via the website or by sending them coupons in an e-mail. For each live position client closes on the Streamster trading platform, partners will receive a commission in value of 15 points.

For instance, if partners have clients who sometimes close about 15-20 positions per day, they can earn hundreds or even thousands for each month by simply referring clients to AGEA. Besides, there is no charge for participation in the program.

There is also the Assistant program. It provides an opportunity for current members of their affiliate program to work more closely with AGEA. To apply for the AGEA assistant program, partners need to have a regular client account. If traders still feel confused, traders can contact AGEA team support by e-mail and Live Chat.

Based on the review above, it can be concluded that AGEA provides so many special programs for their clients. Both beginners and professional traders have a big chance to optimize their earnings. For novice traders, they can benefit immensely from AGEA's no deposit bonus.

A distinguished broker for beginners, AGEA offers a loyalty program that rewards your deposit. Basically, the program's conditions are very similar to the regular deposit bonus. You can get a 15% bonus for every deposit ranging from $1 to $999. Meanwhile, if you deposit $1000 or above, you will get a 30% bonus from the total deposit funds. Clients can withdraw the bonuses if their trades meet the lot quota.

See Also: Deposit and Withdrawal in Forex Brokers: 4 Things to Consider

 

Conclusion

Based on the explanation above, we can see that a loyalty program can be a very beneficial feature. It can be a fun addition to your trade if you choose a broker that offers a loyalty program, especially if you are an active trader that opens trading positions frequently. However, as a trader, you must treat this extra bonus with a careful approach because it can potentially trigger you to overtrade.

Trading outside the original plan is never a good sign because it can lead to unpredictable losses and higher costs. Therefore, you should just think of this program as an extra income, not a target to be reached. It would be best if you did not rely on these bonuses to earn money because the primary purpose of forex trading is to profit from the price movement, not the promotions from forex brokers.