Forex trading has arisen much fuss in South Africa as it is an earning opportunity, which does not require huge initial investments but can bring hefty rewards. Furthermore, due to all sorts of bonuses provided by local online brokers, one can build such a career even with extremely limited capital.

All in all, you can choose between three categories of bonuses:

  •         Welcome ones. It is one of the most commonly available bonuses as it allows effectively involving new active users. So, a broker offers a trader to create an account on the platform, verify his personal data, and make a specific minimum deposit. Then, a user gets either a fixed sum to his balance or a percentage of his initial deposit. As a result, a trader obtains extra capital, and a broker gets a new user with an initial budget who will definitely spend those funds on the platform and will continue using it afterward if it appeals to him. The point is that, in most cases, brokers do not allow withdrawing any kind of bonuses unless one reaches a specific trade volume. Now, let us provide an example — in our opinion, the best offer is provided by RoboForex as, to receive its $30 welcome bonus, one is required to sign up, verify one’s profile and replenish one’s balance for $10, which is a quite bearable sum even for beginners.
  •         No deposit ones. This kind of bonus is easier to obtain as it does not require topping up the balance. To use it, you just need to register and verify your personal data or contact information (depending on the broker). Hence, you will get extra money to try the platform without any obligations and without putting your own funds at risk. Obviously, this kind of offer enjoys bigger popularity among beginners, meanwhile, they are provided by a few brokers only. For example, if you search for the highest no deposit bonuses in South Africa, you will probably opt for a proposition for InstaForex. It supplies a hefty capital of $2000 in case one passes a registration procedure.
  •         Deposit bonuses. Such promos are in high demand among seasoned traders, especially those who can afford to operate large sums (since their size usually depends on the size of a transfer). They are extremely beneficial for loyal users as one receives extra money each time one makes a transfer. Again, we recommend you turn your attention to an offer from RoboForex — each time you top up your balance it adds up to 120% to the sum of your deposit.

To sum up, such bonuses are an easy and risk-free method to extend your trading capacities. Yet, before you claim any of them, be sure to scrutinize and evaluate all the conditions as there may be certain limitations.

By Manali