Novice or professional traders seek brokers with bonuses to increase their investment profit while numerous CFD brokers use promotions and bonuses to attract new clients. In this article, Traders Union highlights the best CFD brokers with welcome bonuses for 2024, guiding users in picking the correct platform for their investment goals.
What is a CFD?
A CFD (Contract for Difference) is an agreement where a trader pays the price difference between an asset’s current and contract values to the seller. Unlike traditional trading, CFD focuses solely on the price difference between entry and exit points. Profit or loss depends on the chosen asset’s movement direction.
How does CFD trading work?
There are two critical prices in the CFD trading: the Buy/Offer price for opening a long CFD and the Sell/Bid price for a short CFD. These prices have a slight difference, known as a spread, covering the CFD opening cost.
To calculate profit/loss, multiply the number of contracts by each contract’s value, followed by the difference between the asset’s opening and closing prices. Here is the general formula to grasp the concept further.
Profit/Loss = (Number of Contracts) x (Value of Each Contract) x (Closing Price – Opening Price)
Lastly, deduct any fees or charges paid to the brokerage to calculate the total profit or loss from a trade.
Understanding CFD broker bonuses
A CFD broker bonus is an incentive offered to attract new clients and encourage existing clients to trade, securing new trading opportunities for better profitability. According to experts, there are two types of bonuses: a no deposit which is free and does not need a deposit, and deposit bonuses are given when a trader makes their first deposit.
Traders can use these bonuses to boost their trading funds, test the platform’s features, and set trade limits. Notably, traders must review the terms and conditions of such bonuses, including any trading requirements or restrictions the broker observes.
TU’s top CFD brokers with no deposit bonuses
Traders Union’s experts say the best CFD brokers offering no deposit bonuses are RoboForex, Tickmill, and InstaForex. These brokers offer top-tier rewards, allowing traders to further progress in their trading journey at zero cost. Read more about CFD bonuses to know more about these platforms.
- RoboForex: offers a $30 no-deposit bonus and a 120% Classic bonus on all deposits upon registration and agreement to terms and conditions.
- Tickmill: provides a $30 no-deposit incentive and a Welcome Account lasting 60 days after registration.
- InstaForex: gives a $1000 Start-Up bonus with no minimum deposit needed for new accounts.
In terms of offering enticing bonuses, SuperForex is also a hot take among users today. Traders Union breaks down an analysis of the broker’s bonuses and services which will be discussed in the next section.
Trading with SuperForex
SuperForex is a global brokerage firm providing traders ECN (Electronic Communications Network) and STP (Straight-Through Processing) accounts, granting access to markets such as stocks, CFDs, cryptocurrencies, indices, currency pairs, oil, and metals.
The broker is regulated by the International Financial Services Commission (IFSC) and provides a remarkable learning system with physical trading training centers and unique software like Pattern Graphix.
SuperForex broker review by Traders Union
According to Traders Union, SuperForex is a moderate broker with a 5.1 out of 10 TU overall score, ranking in the 88th place among 387 other trading authorities featured in the TU ranking. The broker operated for over ten years and has progressed since launch, offering more favorable results and conditions than many of its competitors. “What makes SuperForex a top pick for its adventures are its unique perks,” told Traders Union.
Listed below are some of the broker’s benefits:
- offers 11 accounts, allowing traders to pick based on their preferences;
- minimum deposit for as low as $5 and a free unlimited demo account;
- high leverage of 1:3000, increasing the trader’s profit-making capital by over $100,000 daily;
This is just the tip of the SuperForex iceberg. Although its advantages show potential, TU experts advise traders, particularly beginners, to further study its pros and cons as brokers moderate-risk brokers always come with inherent downsides.
Bonuses Featured
SuperForex offers six trading rewards and bonuses for users and Traders Union has highlighted three of the bonuses it offers in 2024:
- Easy Deposit Bonus: SuperForex offers a 3000% reward on initial investments, amounting up to $750.
- Welcome Bonus: traders can enjoy a 100% bonus on each deposit, allowing users to generate more income without the need for a large initial capital.
- No Deposit Bonus: this bonus allows Forex newcomers to explore their platform and make money without fearing actual losses.
SuperForex is a top-tier pick for novices and experienced traders, offering exciting bonuses and services.
Choosing the right CFD bonus
Knowing the restrictions associated with the bonus is crucial to ensure it aligns with the trader’s goals and preferences. Trader Union experts recommend considering key factors when choosing a CFD trading bonus.
- Broker verification: traders should verify the broker’s licensing and legitimacy, ensuring compliance with regulations in their home country.
- Terms and conditions: carefully review bonus terms, particularly those related to profit withdrawal, as funds may be blocked until requirements are met.
- Time sensitivity: research the bonus expiration date to utilize the funds before the specified time limit.
- Currency pair eligibility: verify eligibility for preferred pairs, as some brokers restrict bonuses to specific pairs.
According to Traders Union’s experts, the best CFD broker bonuses are:
- RoboForex;
- Tickmill;
- InstaForex
An article, inspired by ideas from Traders Union, has been published by BeforeItsNews. As mentioned here, they come from reliable and well-regulated platforms, have favorable terms and conditions, offer flexible expiration dates, and can be applied to a wide-range of currency pairs for a better chance at making a good profit.
Conclusion
Trading bonuses are essential for both brokers and traders. On the one hand, brokers use bonuses as marketing tools to expand customer base and increase trading volumes. On the other, bonuses give users extra capital, helping generate more profit.
Traders Union sets an example on SuperForex, a broker that provides remarkable trading bonuses and services but low satisfaction rates since traders need help aligning their investment goals with the platform. Other platforms such as RoboForex, Tickmill, and InstaForex all offer remarkable no-deposit bonuses – it is just a matter of aligning with the broker’s terms and conditions.
