I believe most of us are fans of discounts and sales! Some brokers have discovered this secret, and use it to attract customers. But you have to be careful; every rose has a thorn. Sometimes the brokers use these promotions in order to push new traders into risky investments or into using unreliable products and signals, so it is important that you do your studying and know your broker before you take advantage of a promotion.There are various different types of promotions:
– Discounts on spreads
– Fixed spreads
– Maximum or minimum spreads
– Discounts on transaction fees
– Free signals
– Cash awards to winning traders
– Unrelated awards, such as phones and other electrical gadgets
– Bonuses upon introducing friends
– Discount food, trips, and hotel rooms to attend their promotional expos
These are all good, but be careful not to fall into the trap of choosing an unreliable broker simply because of its marketing schemes and promotions.
