additional suggestion : better check their bonus term and condition. i have several bad experience back then, while try to trade with 'discount' bonus equity. several brokers seem suddenly cancel our bonus in case we having a big % active negative trading, which result a premature margin call.Bonus is just an additional fund added to the trader’s real live account, and most bonuses comes with some terms and conditions, which means you cannot withdraw the bonus until you fulfil the terms and conditions.
Bonus: 25% bonus, up to $5,000 bonus.
Withdrawing the bonus
If you deposit $1,000 and receive a $250 bonus. In order for you to withdraw the bonus you will have to trade (these are their bonus terms) 83.33 lots. Each 1 lot is worth 100,000 units. Therefore, you will have to trade the bonus ($250) over 32,000 times in order to claim it.
Conclusion: I wish you the best of luck, very difficult
Why would any brokerage shell out free money to traders? Most of the bonus packages [real ones and not the scammy ones] can be used to trade with but cannot be withdrawn..
Of course, no one bothers to review the terms and conditions as they apply to the bonus in question and then, when they want to withdraw, they start crying foul..
Maybe it's just a way to attract newbies, but I don't think it's a cheating. Eventually, all the brokers I had a deal with, allowed to withdraw.
For example, FreshForex has a no deposit bonus of $500. All the bonus money can be withdrawn whether generated you something or not. Why not join and get real money?
My broker offers two bonus promotions one is 100% bonus and the other is 40% bonus. The main difference is that you share the profits if you take the 100% but on 40% you can withdraw your profits. So when i signed up with Ironfx i took 40% bonus and tested the withdraw with a small amount, everything was fine.
Does ironfx allow using small amount of money for this bonus? I'm suprised because lots of brokers require minimum deposit over 200$ usually.