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Forex brokers often launch promotions that are targeting new traders and help to retain existing ones. Various bonuses are introduced daily and some of them are very useful and provide unique possibilities to increase trading capital or to get cash rewards for little or no effort. RoboForex offers multiple bonuses including the 12th-anniversary giveaway of multiple prizes with a total value of $12 million. It is important to know if a broker is trustworthy and if its bonuses are worthy of a claim. Let's dive into RoboForex and its bonuses and select the best one you don’t want to miss.
RoboForex is a regulated broker offering trading services to clients worldwide for more than 12 years now. You may be wondering how and why RoboForex has over a million clients from 168 countries worldwide. The main reasons are good regulations, along with policies that promote client safety with things like negative balance protection, a compensation fund, and segregated accounts. Additionally, RoboForex offers more than 12,000 tradable instruments from 8 different asset classes including Forex, CFDs on metals, commodities, indices, cryptos, and ETFs. All accounts are protected with negative balance protection in case of over-leveraged trading. The broker is regulated by the Belizean financial regulatory body the Financial Services Commission (FSC). Being regulated by only one authority is a downside of the broker, but since RoboForex has been on the market for more than 12 years the broker seems legit and fair when it comes to dealing with their clients.
The information about all the bonuses on a client's account can be seen in the “Extra funds” section of the member area.
As of their anniversary giveaway, RoboForex rewards its clients with 640 prizes with a total value of $12 million. The terms for receiving a prize have several requirements. The broker has chosen 64 top US companies’ stock prices based on their closing price on the first Friday of each month and it is set as a winning combination of numbers. Clients, whose coupon numbers are mathematically the closest to the combinations, will become winners receiving prizes. To receive these coupons traders will have to fulfill one or all three of RoboForex’s conditions for Trader, Partner, and CopyFX Trader.
Partner commissions must be at least 300 USD for the end of the month to receive a coupon.
CopyFX Trader terms:
The trader will have to make it into the top 30 of the best CopyFX Traders on prime accounts in the current month.
There are several advantages to RoboForex’s $30 welcome bonus when compared to similar promotions from other brokers. The welcome bonus is not written off during drawdowns which give traders a lot of flexibility when using bonus funds as part of the margin. To be eligible for a welcome bonus there are three steps:
There are other important requirements for this bonus to be received including
As we can see, the RoboForex welcome bonus provides the ability to add an extra 30 dollars to 10 USD accounts and it is also added to drawdowns making it possible to use it as trading capital. Because of this, this bonus is one of the best welcome bonuses on the market right now and provides beginners a nice backwind to start trading on Forex markets with an ultra-low budget.
A profit share bonus promises traders to increase their trading capital by 60%, which is a decent number. The bonus is added to the trader’s account automatically and can be used during drawdowns. ECN accounts do not participate in the promotion, the bonus is only available to standard and cent accounts on the MT4/MT5 trading platforms just like the welcome bonus we discussed earlier. The bonus can be received only on accounts that do not have other bonus funds. The bonuses can be received automatically if the trader selects the profit share bonus field during the deposit phase. The total amount of profit share bonus on any one account can not exceed 10,000 USD. When a trader has a bonus on their account the funds are divided into two parts: The client's funds and the bonus amount, and when the requirements for trading volume are completed, the bonus is added to the client’s funds. The trading volume requirements are as follows:
The number of lots = Profit share bonus sum in USD / 2, meaning it will be necessary to trade 50 standard lots for every 100 USD as a bonus on your trading account. Therefore this is rather a difficult requirement to be eligible to withdraw profits from the bonus. The welcome bonus is still a much better option for beginner traders and offers reasonable conditions.
Classic bonus can be received even when you have already used another bonus like the welcome bonus and is very flexible in this regard. Since it is highly recommended to get the 30 USD welcome bonus and the classic bonus can be received even after this, let’s see how attractive its terms and conditions are. Up to 120% of the deposited amount can be received as a classic bonus.
The classic bonus is a great offer for traders as it allows traders to withdraw profits made from the classic bonus as well as from traders’ funds. The three steps for receiving a classic bonus are:
The client can choose between 25%, 50%, 100%, or 120%. The classic bonus program is not available for clients from Malaysia. While the client funds can be used without limitations the classic bonus can not be used during drawdowns and is written off when funds on the account are lower than the bonus. For example, if the client deposited 5,000 USD and received 2 500 USD as a bonus, in case the equity falls below 2,500 the bonus is immediately canceled. Both client funds and bonus are locked and the client can only withdraw the profit made from trading. If a loss occurs, the amount is deducted from the client’s funds and not from the bonus amount. The bonus can be withdrawn when the trading volume requirements have been met. The number of lots that should be traded to unlock the bonus is equal to the bonus sum in USD / 2.
This means for every 100 USD of bonus funds, the volume that must be traded equals 50 standard lots. This is difficult to achieve, but since the profits can be withdrawn, this bonus is still very useful and recommended for traders.
The best way to receive the most value from RoboForex’s bonuses is to first receive a 30 USD welcome bonus and develop a profitable trading strategy. Then when you get the strategy down pat and make additional deposits, activate the classic bonus and start withdrawing the profits.