If you are looking to make your start in the Forex world, there is a lot to learn first. And, there are thousands of sources of knowledge for it. In fact, even all advanced traders recommend reading books. Also, in this age, it is easy to find everything on the Internet. You can watch live tutorials to understand all the fundamentals of Forex Trading. Even with all these insightful options, many people do not go through all the educational material. Instead, they prefer to learn as they go. While it may seem a better way, it is actually not. You can lose a lot of money if you are not aware of the fundamentals.
Combine that with thousands of brokers online, and it is easy to face a loss or scam. Yes, frauds are very common in Forex. It is getting reported more and more as its popularity’s graph is going up. That is why it is important to know all the tactics that scammers use. One of the most common is when a fake broker will convince you to invest money with them, and they will give you a bonus in return. Although you can see the red flags if a brokerage house does not have a registration, many people still fall for this simple trick. However, there are some legit broker firms that do offer bonuses. And, one of them is Exness, which is also one of the most popular ones worldwide.
If you are wondering what kind of bonus they offer, we have got it covered. Here is everything you need to know about the Exness bonus. So, let’s get into it.
What is The Exness Bonus
Exness offers a sign-up bonus for all the new traders. It is a 10% net deposit bonus. It is called a net bonus because it is the difference between the amount of funds withdrawn from the account and that deposited in the account. For beginners, it is a clever way of luring them. However, the bonus is best defined as just a way to compensate traders. You can consider it as an award for choosing the brokerage firm.
Although it is good to get the award, you need to know a few things before signing in just for it. It is better to understand where you can use the bonus and where you can not. With that said, let’s take a look at where you can not avail or use the bonus.
Where You Can Not Use The Exness Bonus
Exness is supervised by various regulatory bodies. It is a good thing as it prevents scams and keeps a good watch on the broker and traders. But, it may come as a downside to some. Cypress Securities and Exchange Commission (CySEC) and Financial Conduct Authority (FCA) are some of the most well-known regulatory bodies. Both of these regulators have restricted the idea of giving bonuses to traders. It means all the regions in their jurisdiction will not allow brokers to award a user. Hence, European Forex traders can not avail of the bonus offered by Exness, or in this case, by any other broker.
Now, let’s talk about where you can not make use of the Exness bonus. Traders are not allowed to withdraw its amount. Regardless of how much money your 10% bonus makes up to be, you can not cash it out. However, it remains in your account, and you can use it for trading activities. It means it will add up with all your other money that is in your trading account.
Is There a Referral Exness Bonus?
One of the most frequently asked questions is, does Exness offer referral bonus programs? For people who are not familiar with it, a referral bonus is one that a broker awards you for bringing in new clients. It is another way to increase popularity and bring in new traders. Since Exness offers a sign-up bonus, there are no referral bonuses.
Are There Other Exness Bonuses?
The simple answer is Yes, Exness does offer some other bonuses as well. If you are a long-term customer of the broker, they will consider you for the Premier Program. It is for their active traders, especially those who trade regularly and in large values. The bonus comes with several privileges. That is because it is based on the levels of a trader. It means how long they have been trading and how they have been in their career. The Premier Program consists of three tiers. Let’s take a look at them to get a clearer picture.
For beginners who are still in the learning stage, the Preferred tier comes with a lot of benefits. It allows you to get opportunities for special promotions in your Forex career. Moreover, the broker offers you an expert trading analysis that comes in quite handy for learning and strategizing.
Intermediate traders also need some guidance not only for trading but also for money management. In fact, it is one of the most difficult parts of Forex Trading. The Elite tier comes with all the benefits of the Preferred as well as a dedicated account manager.
Experienced traders who have a long experience in the field truly deserve some benefits. That is why the Exness bonus offers a completely different set of terms and conditions for them. Along with that, they get networking opportunities and exclusive access to the C-suite. Combine all these exciting awards with the benefits of the Elite and Preferred tiers as well.
Although the Exness bonus is exciting, it is better to understand all the related factors first. If you are starting out, you can get a bonus deposit. And if you are a longtime client, you can see whether you are eligible for the Premier Program. Regardless of your experience, it is safe to say that Exness is one of the few brokerage houses that offer opportunities for traders.
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