One of the most attractive bonuses you can get from a broker comes from a loyalty program。Learn how it works and which brokers offer the following services。

As with any other business, many forex brokers try to win more clients by offering various bonuses and rewards; most traders are often also interested in these quotes and take them into account when choosing a broker。One of the most advantageous bonuses is called a loyalty program. It is a program that rewards customers for loyalty. Bonuses can take many forms, such as cash rewards, gifts, lower spreads, bonuses, commissions, etc.。

How Loyalty Programs Work

Basically, loyalty programs are designed to keep traders satisfied so that they continue to invest their money in brokers, mainly because Forex brokers need clients to maintain their business, making money only through spreads and commissions。

If brokers keep clients' funds in separate accounts, they will not be able to use those funds to cover the company's operating costs or other financial needs。Therefore, brokers need to constantly encourage clients to fund their accounts and trade。Therefore, in return for customer commitment and loyalty, brokers offer rewards through loyalty programs。Such rewards are expected to attract traders to deposit more money and enjoy the benefits of trading, rather than switching to a new broker and losing loyalty rewards。

However, traders should not confuse loyalty programs with forex cashback, the most significant difference between the two is the potential to increase the bonus amount。

In foreign exchange rebates, the amount of the bonus per transaction does not remain the same。And in a loyalty program, you get a bigger bonus when you reach a certain number of transactions, deposits, or volume。Thus, the more loyal the trader, the greater the reward offered by the broker。

Note that each broker has a different category and loyalty level。Some measure trading loyalty based on the amount of time a trader has traded with a broker, while others rate traders based on the number of lots traded or the amount of money deposited。As long as the account is active and regularly trades with the same broker, then they are eligible for a loyalty program。

If we break it down, the advantages of using a broker with a loyalty program are as follows:

• As long as trading is active, you can earn bonuses regularly; deposit bonuses can only be earned when funds are deposited。
  Typically, the program only requires you to open an account without any additional request or submission procedures。
  Bonus withdrawals are usually based on common criteria。
  Can increase your trading income。
  Traders only need to trade daily as usual to receive bonuses, while deposit bonuses can affect your trading decisions due to trading limits.。

However, despite all these advantages, loyalty programs also have some disadvantages。While foreign exchange rebates and other bonuses are usually offered directly in the form of trading points, cash or extra points, loyalty programs usually reward them in the form of points, which can be redeemed for certain bonuses such as cash, deposit bonuses or gifts.。

The broker will detail how traders accumulate points and how they can redeem them, and as with any other promotional program, each client should follow guidelines to prevent abuse。Brokers can ban offending traders and all points will be cancelled。Thus, while it is easy to enter a loyalty program, benefits are not directly available。

In addition, only a small number of brokers offer these plans.。Usually, loyalty programs are offered by legitimate and high-quality forex brokers because it is considered safer than deposit bonuses, which may cause conflicts between brokers and their clients due to conditions。Fake brokers rarely offer loyalty programs because they are more willing to offer high bonuses and unrealistic promotions to win more customers。Getting customers is the only thing they care about, so they won't do anything to return the loyalty and money they get through honest means like loyalty programs.。

However, you can't judge brokers based on loyalty programs alone, and brokers that don't offer loyalty programs aren't necessarily fake。Some legitimate forex companies may choose not to offer too many bonuses and rewards to their traders; instead, they are mainly focused on providing better technology and trading conditions to meet the needs of traders。

Brokers offering loyalty programs

Despite the small number, Forex brokers offering loyalty programs still exist, some of which are quite well known among retail traders。Here are some examples:

1. XM

XM was founded in 2009 as a company called Trading Point of Financial Instruments Ltd..A member of an online brokerage firm。To serve customers worldwide, the company has split into XM Australia and XM Global, as well as XM Cyprus。Each member has a different head office and license, XM Australia is registered under the Australian Securities and Investments Commission (reference number: 443670), XM Worldwide is registered under the International Financial Services Commission (60 / 354 / TS / 19), and XM Cyprus is registered under the Cyprus Securities and Exchange Commission (reference number: 120 / 10).。

XM is one of the more experienced brokers in today's online forex trading world。Since its inception, the broker has undergone many changes, including the addition of an ultra-low account and webinar function, which supports 19 different languages with 35 local instructors in each language。

In terms of trading instruments,XM is known for its diversity of asset providers, ranging from Forex, commodities, CFDs for equity indices, precious metals, energy, to equities。XM prides itself on being the ideal broker to execute trades, providing a statistic that 99.35% of orders executed in less than a second。Trading at XM also offers a strict no-re-quote policy, no virtual trader plug-ins, no rejection of orders, real-time market execution, and the option for traders to place orders online or over the phone.。

在在Spreads across all major currency pairs can be as low as 0 in an Ultra-Low account.6 points, while the spread of other accounts usually starts at 1 point。XM chose to limit their leverage to a scale of 1: 888, rather than offering a maximum leverage of 1: 500 or 1: 1000 (whole numbers), a unique number now widely recognized as a trademark of XM.。

In order to protect the client's funds in the case of extreme volatility,XM provides negative balance protection for each type of account。Deposits for micro and standard accounts start at $5, while Ultra-Low accounts require a minimum deposit of $50。Traders who open an account at XM can get conditions similar to a penny account environment in a micro-account, where each lot has a contract size of only 1,000 units.。If you use the smallest number of lots on the MetaTrader platform, which is 0.01 lots, then the trader can trade only 10 units per trade。

For deposits,XM applies zero-fee deposits in most of its available payment methods。Traders can choose to deposit and withdraw money by wire transfer, credit card, and the most popular electronic payment options such as Skrill, Neteller, and FasaPay.。

XM also provides Islamic accounts for Muslim traders who comply with Sharia law that prohibits the use of interest-bearing overnight swaps for each currency pair.。In order to provide their customers with the best trading experience, XM has opened access to MT4 and MT5 platforms, each with more than 6 display formats (PC, Mac, Multiterminal, WebTrader, iPad, iPhone, Android and Android tablets).。

In general, there is no doubt,XM has gone global, with its deep commitment to providing trading services worldwide available in more than 15 languages.。In addition to simplifying the trader's experience through mainstream trading platforms and high-quality trade execution, XM is open to all types of traders, from small capital traders to preparing large deposits. More experienced traders.。Even a penny trading environment for traders if they choose to register under a micro account。

for their global approach,XM has ensured that traders from various countries can easily access their services.。This has resulted in different domain names for traders in specific jurisdictions。

XM's loyalty program has been a long-term promotion for the broker, in which traders will be divided into four loyalty levels, determined only by the consistency of transactions over a certain period of time。Each trader will start from the first level and upgrade after maintaining trading consistency within 30 days after opening an account。Rewards will be provided in the form of loyalty points, which can be redeemed for credit bonuses。

Conveniently, traders who want to benefit from this scheme do not need to apply for any submission, as it will be automatically applied to all customers。As a result, traders will receive loyalty status as soon as they open a new trading account with the broker。

2. InstaForex

InstaForex is an international broker offering trading services to traders worldwide。Since its inception in 2007, InstaForex has served up to 7 million traders from various countries.。InstaForex, headquartered in Kaliningrad, Russia, is always committed to improving the quality of the company in order to attract the hearts of customers。

InstaForex's efforts are there for all to see, and one of them is winning various awards, including the 2018 Best Forex Cryptocurrency Trading Platform from the UK Forex Awards, the 2018 Best ECN Broker in Asia from IBM, the 2018 Eastern European Forex Broker of the Year Award from Lee, the 2016-2017 Financial Olympus Fonti Award, Development Award and Success Award, among others.。

InstaForex offers 4 types of accounts that represent a common trading tool that helps to operate on international financial markets, such as Insta.Standard, Insta.Eurica, Cent.Standard and Cent.Eurica。The type of trading account varies depending on the method of calculating spreads and commissions and is selected by the account opening trader。

Insta.Standard accounts are linked to standard trading terms on the Forex market and allow trade settlement using classic spreads with no fees。Traders are charged a fixed spread every time they make a trade, with a spread range of 3-7 points。The main advantage of this type of account is its versatility, as the trader can change the trading leverage and use the convenient trader's deposit size。

with Insta.Standard account is different, Insta.The Eurica account does not need to pay any spreads when opening positions.。Therefore, such InstaForex account is suitable for a minimum trading volume of 0.01 hands of a beginner trader。

InstaForex also has other types of accounts, namely Cent.Standard and Cent.Eurica, available for beginners because they can use the smallest trading volume, which is 0.0001 lots (cost per lot is 0.1 cent)。The deposit currencies available to traders are EUR and USD (for all types of accounts)。

Trading at InstaForex is taken for granted as traders can choose to trade with leverage between 1: 1 and 1: 1,000。Since the minimum initial deposit requirement is only $1 (for all types of accounts), InstaForex customers have the opportunity to receive a 30% to 100% deposit bonus。

Not only that, beginners will not be confused when determining a forex trading strategy because the ForexCopy service provided by Instaforex allows traders to copy orders from professional traders in just a few minutes。

In addition, InstaForex provides traders with about 300 trading tools, in addition to currency pairs, there are futures, stocks, gold, silver, CFDs, Bitcoin, etc.。

Every InstaForex client is free to choose the trading platform that suits their needs。There are four types of trading platforms available, including InstaBinary, WebIFX, MetaTrader4 and MetaTrader5, each with advantages and disadvantages。InstaForex also offers video tutorials on how to register on each platform with the aim of making it more convenient for beginner traders who want to join InstaForex。

If traders are still confused after watching the video tutorials, traders can reach out to customer service 24 hours online via various social media including email, Skype, Whatsapp, Telegram, Viber, Twitter and phone。About 30 languages are available on the InstaForex website to facilitate traders from different countries。

Traders can also use the trading calculator available on the InstaForex website to help themselves and can accumulate currency pairs, leverage, trading volume and currency used。

InstaForex also has a variety of payment systems, with traders paying for deposits via Visa, Mastercard, Skrill, Neteller, PayCo and wire transfers.。All in all, InstaForex is a comprehensive broker for many types of traders。

As one of the world's leading forex brokers, InstaForex also has promotional programs similar to loyalty programs。Although not as popular as the deposit bonus or start-up bonus offered in the promotion, this activity is actually very beneficial for traders。

InstaForex Club is essentially advertised as an elite club, but in reality, it is not exclusive。Any trader can join the program, subject to a $10 registration fee。Each member will then receive a membership card and PIN to confirm their participation。

After joining the program, traders can get a variety of benefits, including a bonus of up to 10% per deposit, a lottery ticket with prizes such as luxury cars, a member-only trading competition, and an annual bonus of more than $500,000。In addition to this, the club offers bonuses based on member loyalty。InstaForex measures a trader's loyalty based on account surplus, which is the total balance of a member since joining the club。The minimum bonus range for InstaForex loyalty programs is 1% for every $500 surplus to 10% for balances greater than or equal to $15,000。

3. Admiral Markets

The broker's loyalty program is called the "Admiral Markets Club"。Despite the seemingly exclusive nature of the program, it actually applies to all traders who open an account with a broker。Just like XM's loyalty program, the rewards at Admiral Markets will be given in the form of points, which can be redeemed for cash.。Basically, the reward scheme is similar to Forex trading cashback in that it only applies to closed trades, ranging from every 0.01 Hand closing trades range from 1 point to 100 points per standard hand.。

4. HotForex

HotForex's loyalty programs are relatively new compared to other brokers。Brokers divide trader loyalty into four levels based on trade consistency。Traders can upgrade from red to silver status after 31 days of active trading, while to upgrade to the highest level (Platinum level), traders must be active for at least 105 days。

Like previous brokers, HotForex also uses redemption points, but the difference is that points will be rewarded in the form of gold bars, worth $1 per 35 bars.。If you are in the red level, you will get 6 gold bars per hand, and after reaching the platinum level, you will get 12 gold bars per hand。

In addition, these bars can also be obtained in other ways; if you deposit $300, the broker will reward you with 100 gold bars, and if you can invite friends to trade on HotForex, you will be rewarded with 170 gold bars。These bullion bars are not only redeemable, but also redeemable for a variety of other benefits such as Autochartist subscriptions, free VPS access, and private meetings with HotForex analysts。

5. Weltrade

Weltrade's loyalty program is open to all verified live accounts and is divided into five levels based on the number of lots traded.。Traders can experience the first upgrade after the total trade size reaches 5 hands。Reward to 0 per 1 standard hand.Available in cash-back form from $25 to $2。Rewards are awarded for each trade, whether it ends at a profit or loss。

6. FXTM

Originally launched in 2011, FXTM's unique vision is to offer unparalleled superior trading conditions.。Opening an account with FXTM also gives you access to advanced education and advanced trading tools in the Forex industry。

FXTM is now registered with the UK Financial Conduct Authority with registration number 600475, the company is also regulated by the Cyprus Securities and Exchange Commission with CIF licence number 185 / 12 and licensed by the South African Financial Conduct Authority (FSCA) with FSP number 46614.。

FXTM has 1 million registered accounts and more traders join every day。The company continues to strive to improve its performance and has won many awards such as the World Finance Award for Best Trading Experience 2019, the International Finance Award for Best Online Forex Trading Company in Nigeria 2018, the Hexun 2018 Reputable Investor Education Forex Broker Award, Fxeye.Com 2018 China Foreign Exchange Brand Award, etc.。

As a responsible broker, FXTM determines leverage (expressed as a ratio of trade size relative to the trader's purchasing power) based on the trader's trading knowledge and experience level, and evaluates it through an appropriateness assessment. It also supports leveraged trades up to 1: 1000。

As for spreads, FXTM offers 0.The low spread from 1 o'clock, so traders can withdraw profits at the beginning of the trade。With headquarters in several countries, the company uses No Trading Desk (NDD) technology and works with reliable liquidity providers to deliver the best bid and ask prices.。

For beginners, there is an automated trading tool called algorithmic trading。Traders can develop their own trading strategies or adopt the strategies of other traders when trading at FXTM。In addition, the strategy is also applied to automated trading systems, such as smart trading systems, so that traders don't have to worry about losing opportunities without observing the market and still make profits。

Three types of ECN accounts using MT4 and MT5 trading platforms。There are also mobile and tablet app trading platforms。In addition to offering multiple account variants, FXTM also makes every effort to ensure that customers receive the excellent support they deserve, so that their trading experience is optimal and user-friendly。

FXTM also offers a variety of products, in addition to more than 50 foreign currencies, gold, silver, commodity futures (oil) CFDs, ETF CFDs and indices.。

The broker also provides education on basic concepts of the forex industry。Traders can read all the concepts offered in the form of e-books, video tutorials, articles, webinars and forex seminars。The FXTM website is available in 17 languages for traders to understand Forex。

Traders can also choose from a variety of payment methods, including credit cards (Visa, Mastercard, Maestro) and e-wallets (Neteller, Skrill, Western Union)。For withdrawal of funds, traders do not have to pay a fee of 2 hours to 2 days。Traders can ask further questions via live chat and contact the administrator via email, FXTM has a question and answer page on Forex trading。

Unlike most forex brokers, FXTM's loyalty program will offer you direct rewards without the need for points。The system is such that traders can receive withdrawable cash-backs every week, with bonuses worth up to $5 per $10,000 trade size。There are five loyalty levels with a minimum transaction reward of $2。

7. AGEA

There is no more reason for traders to view deposit conditions as an obstacle when opening a trading account, at least at AGEA。The broker offers a no deposit plan for new traders, so they no longer need to prepare any funds as deposits。The free funds amount to $5 and are offered exclusively to Streamster customers; in addition, AGEA offers $10,000 in virtual currency, which is intended to practice trading。

Another advantage that traders can get from AGEA is the low spread。The lower the spread set by the broker, the greater the chance that the trader will make more profit。AGEA also offers trading facilities in the form of swap-free。All trading accounts registered with AGEA are free of swap fees, ideal for beginners and professional traders。

AGEA provides facilities to help clients make the company one of the most trusted brokers for traders around the world, with the registered company name AGEA International AD。Since its establishment in 2005, AGEA is headquartered in Montenegro, South-East Europe.。Headquartered in Montenegro, it helps AGEA be regulated by the Markets in Financial Instruments Directive (MiFID)。To ensure the quality of service, AGEA constantly works with legal and compliance experts to ensure that they fully comply with relevant local and international laws and regulations。

With the security of AGEA funds, the convenience of traders also increases。Customer funds held by AGEA are kept in separate bank accounts at local and international banks in accordance with relevant laws and regulations。

AGEA provides services through multiple trading platforms, with Streamster, AGEA's proprietary platform, being an example。On this platform, traders will get a comfortable and simple trading experience。Streamster is also a powerful platform with APIs for algorithmic trading。Streamster's interface is considered user-friendly and easy to use. On a Streamster account, traders can use 1: 100 leverage to trade。

In addition to the Streamster platform, AGEA also offers MetaTrader 4。It is a programmable trading platform for traders who know how to code, provides the tools and resources needed to analyze the price dynamics of financial instruments, and integrates into Expert Advisor。In addition to currency pairs, traders can also trade using other instruments such as CFDs, gold and silver。

The process of opening an account at AGEA is simple and quick, traders only need to fill out the registration form online, it takes only 5 minutes to fill out the form, and provide the necessary documents for the investigation before trading。

You can check the processing speed when you deposit or withdraw money, and AGEA is known as the broker with the smoothest system in the payment process.。They offer a variety of deposit and withdrawal methods, including credit cards, Skrill, Neteller, FasaPay, WebMoney, wire transfers and more。

When joining AGEA, traders can also find unique partner programs while gaining additional benefits, which are called affiliate programs.。GEEA's partners can refer customers to AGEA by sending them coupons via the website or by email。For each real-time position closed on the Streamster trading platform, the partner will receive a commission worth 15 points。

For example, if the partner's clients sometimes close out about 15-20 positions a day, they can earn hundreds or even thousands of dollars a month simply by referring the client to AGEA。In addition, there is no charge for participation in the program。

And the assistant program。It offers existing members of its affiliate program the opportunity to work more closely with AGEA.。To apply for the AGEA Assistant Program, partners need to have a regular customer account。If traders are still confused, traders can contact AGEA Team Support via email and live chat。

In summary, AGEA offers so many special programs for its customers that both beginners and professional traders have a great opportunity to optimize their income.。For novice traders, they can benefit greatly from AGEA's No Deposit Bonus。

As an outstanding broker for beginners, AGEA offers loyalty programs to reward your deposit。Basically, the conditions of the program are very similar to the time deposit bonus。You can get a 15% bonus for each deposit, ranging from $1 to $999, and if you deposit $1,000 or more, you will get a 30% bonus from the total deposited funds。If the client's trade reaches the lot limit, the bonus can be withdrawn。

Conclusion

Based on the above explanation, we can see that loyalty programs can be a very beneficial feature。If you choose a broker that offers a loyalty program, it may add fun to your trading, especially if you are an active trader who often opens trading positions。As a trader, however, you must treat this extra bonus with caution as it may trigger you to overtrade。

Trading beyond the original plan is never a good sign because it can lead to unpredictable losses and higher costs。Therefore, you should only consider this plan as additional income, not a necessary goal。It is better not to rely on these bonuses to make money, because the main purpose of forex trading is to profit from price movements, not from promotions by forex brokers。