Published On: Mon, Sep 14th, 2015

10 ways to attract new clients for the FOREX brokers

The journey of the Forex (Foreign Exchange) market started in the end of 1970s when many countries decided to cease to maintain a fixed relationship of their currency with that of the US dollar or gold. It should be noted that in the present times, FOREX is the largest financial market in the world. Here, you can trade on your account, irrespective of where you live. Also, one should remember that different FOREX brokers will provide you with different opportunities as well as different bonuses.  

dollar-ten dollar bills pile by Gerd Altman via pixabay

photo/ Gerd Altman via pixabay

Let’s take a look at the 10 ways through which the FOREX brokers attract new clients for their companies:  

  1. Loyalty program: At present, this has the highest rating in order to attract new clients. This option not only provides initial attraction of new trades, but it also helps in the promotion of current clients. The main idea behind this option is to give scores to every action of trader. With the help of these scores, the trader is provided with different things he wants – compensation of commissions for transfers, improvements of trading conditions, discounts for training, etc. The clients should note that the more actively he or she trades, the better benefits he or she will get. One of the most brilliant examples of it – Alpari bonus program.
  2. “No-deposit” bonus: There are certain brokers who offer small amount of cash to their new clients when they start off with their trading accounts after registration. This bonus is a no-deposit program is a no-deposit bonus. The main aim of this bonus is to make the client try the trading platform effectively. Also, it will give the trader an idea about the speed of work in reality. The amount of this bonus varies between 5 to 50 USD. There are some newbies who try to withdraw this amount, but things are not that easy!
  3. Deposit bonus: This is another attraction for the traders. A deposit bonus will help to boost your account when it is time to invest more money into live Forex trading. It might help you get up to 100% of the initial investment!
  4. Demo-accounts contests: This option is mainly available for newbies. Different types of outstanding contests are held every year. The contest will start on a specific day of every week. You will have to keep a track of the demo-accounts contests and participate in it. You will also be updated by the trader about this.   
  5. Real accounts contests. These contests are for experienced traders.  The traders will get different types of contest in this range which might even last for 1 week. Certain contests might even last for a month. You can choose the right contest for yourself after reading the terms and guidelines of the contest.
  6. Free Forex analytics: One of the ways to attract new traders is to provide them with free analysis of the market. The market reviews and recommendations for traders will help them invest in the best possible deal and ensure that they get back good returns. So, the chances of losing money reduces and more people get attracted to it.
  7. Bonuses for training: If you join a specific trading platform and if you are new in this field, then it will be better for you to get a training. While training, you will get bonus amount which you can use for practice.
  8. Partial rebate of spread: This is a system of partial repaying of spread once each deal is made. This is an attractive option for many traders.
  9. “Refer-A-Friend” bonus: Most of the trading platforms offer the option of “refer-a-friend” bonus. If you refer your friend to a trading platform and if that person is successful, then you will be able to win a bonus.  Very often, a unique coupon code is used to identify the referrer.
  10. “Exotic” bonuses: In this option, the traders will get the option of trading in exotic currencies.

Hopefully, after reading the above mentioned points, you will be glad to get into FOREX.

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About the Author

- Adam Lee is a financial writer who has insightful knowledge in dealing with different financial issues. He tries to help people to get out of difficult financial situations by contributing financial write ups to websites and blogs such as Moneyforlunch.com and Moneynewsnow.com

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