This site was created to provide our visitors with the very best brokerage account promotions from brokers around the world. Before viewing the many promotions and discounts that are currently on offer, why not familiarize yourself with the different types of promotions and learn how to get the best deals?
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Why do Brokers Run Promotions?
The answer to this is fairly simple: brokers run promotions to attract new business. Generally speaking, older and more established firms are less likely to do this as they are able to rely on the strength of their reputation to attract new clients.
As a general rule, brokerage account promotions are more common among forex and CFD brokers than those of stocks or futures. This is simply because there is a greater choice of brokers for trading these instruments, and the marketing competition is higher.
Types of Brokerage Account Promotions
Bonus promotions mean that a cash bonus is added to your account once you satisfy the promotional conditions. Usually this involves completing a specified number of trades. Bonus amounts are often dependent upon the amount of the initial deposit. One of the great things about this type of brokerage account promotion is that it can allow you to quickly double your trading capital without taking on the risk of extra leverage.
Commission rebate promotions also generally require that a certain number of trades are completed before your account is credited. Sometimes the rebate will be up to a fixed limit (e.g. “$500 of commission free trades”), but many offers specify a period of time (e.g. “trade free for 90 days”).
One of the advantages of commission rebates is that they enable you to save on brokerage account fees during the critical early period of your trading.
Reduced rates are a more long term form of promotion. By offering lower commissions and other account fees, brokers appear more competitive. This type of promotion is great because it is ongoing, but when comparing brokers on the basis of fees you should also ensure that the service they offer is similar.
Best Brokerage Account Promotions
Although finding a great promotion, discount, or deal can be helpful, ultimately you should choose a broker you think that you will stick with for the long haul and will meet you trading and investment needs. The best brokerage account promotion is one that adds value to what is already a great product offer.
Always ensure that you read all the small print. It’s easy to focus on the flashing “300% Bonus” signs and miss the fact that you need to trade at least 10,000 contracts in your first month to qualify. The best brokerage account promotions don’t tend to include to lots of complicated terms and conditions; the broker is more than happy to provide a bonus or discount because they are pleased to secure you business for the long term.