Every good Forex broker should have some kind of enticing offers for their traders every once in a while right? Well, Forex Time is no exception.
In this FXTM 30% Deposit Bonus review we will be talking about the terms and conditions of the promotion, ways to get it, the difficulty of meeting the minimum requirements and the overall feasibility of accepting the offer.
You will see us discuss things such as available leverage and comparing it to the minimum trade volumes for withdrawals.
Overall, this is more of a get-to-know of the bonus, rather than a serious critique.
How much will the broker give you?
Like any other bonus promotion, the FXTM 30% welcome bonus has its own maximum and minimum amounts. Don’t be too optimistic about getting $3000 as a bonus if you’re willing to deposit $10,000 though as it would be quite the feat for the brokerage.
Imagine if hundreds of customers like this applied for this bonus, the broker would not have enough to distribute it to everybody, right? Plus, this promotion is more for beginners rather than veterans.
The maximum amount that you can get is $300, and the minimum is $30. This means that the deposits range from $100 to $1000. Only within this range will you be eligible for the bonus funds.
Terms & Conditions
Minimum trading conditions
The terms and conditions are quite simple when compared to other broker offerings. In regards to the Forex Time 30% bonus on deposit, the formula is used thusly: Bonus funds * 2/10
For example, let’s imagine that you were given $300 as a bonus because you deposited $1000. What would be the minimum number of lots you have to trade in order to withdraw these funds? Well, let’s use the formula.
300*2=600, 600/10=60. In total, you will have to trade a total of 60 standard lots in order to withdraw not only the funds you’ve deposited but also the bonus amount alongside the profits you’ve made on the way.
Timeframe
The timeframe for the bonus is also very important. With FXTM, the moment the bonus is credited to your account, the clock will start ticking. It will stop in exactly 30 days after receiving the bonus, and if you don’t have the minimum number of lots traded, then all of the profits, alongside the bonus will be taken away by the brokerage.
Remember that the offer ends on November 30th, so better hurry up with the registration if you want to get your hands on the bonus.
Tools
Every customer will have access to FXTM’s trading tools. Things such as 1:100 to 1:1000 leverage on all CFD assets such as Forex, commodities, and stocks.
All of the educational content will also be accessible, which makes the offer great for even beginners.
The only difference we found in the FXTM deposit bonus review was the trading strategies that people can use.
For example, if you close a newly opened position in less than five minutes, it will not be counted towards the minimum requirement.
FXTM 30% Deposit Bonus rating
It’s pretty obvious that the bonus is quite handy for not only for new but already existing customers of the FXTM platform. Even though the $300 may seem a little bit too small, consider the minimum requirements that come for it, which you need to achieve within just a month.
60 standard lots are 6 million of a particular currency in traded volume. The only way this is possible is through large amounts of leverage, which FXTM is, fortunately, able to provide.
Comparing the offer in terms of costs, conditions and the time available for traders, FXTM has made it quite fair. The rating deserves a 5/5 from us. The only thing that would have been a great addition is making it a 50% deposit bonus instead of 30% but stick to the same volumes in terms of deposit minimums and maximums. This way the traders would have much less risk, especially if they’re beginners.
