IFX brokers is a fairly popular broker in South Africa. For many traders, it checks all the boxes by being a robust and functional broker.
South Africa has a large user base of Forex trading platforms. Statistics have further shown that South Africa has one of the largest Forex trading communities.
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Why do brokers offer bonuses?
Brokers offer bonuses for several reasons; let’s talk about them.
- Promotional scheme
Most new traders are puzzled about bonus schemes because of the unbalanced dynamic that they pose. The broker is offering you more money and perks. However, how does the broker benefit from this, and why do they need to offer bonuses.
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The answer to the question “why?” lies in the highly competitive broker state in South Africa. Since the spike in Forex trading in 2020, several new brokers have stepped into the market. However, the broker space is highly contested and requires huge amounts of advertisements and promotional schemes.
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Bonus offers are a way to get the attention of the public. Additionally, they double up as advertisements for the broker. Let’s be real; it got you interested enough to search for it over the internet.
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Let’s see how the broker benefits from bonus offers; at the start, it might seem that the broker is losing money by offering huge bonuses. However, the broker makes a lot more money from a trader using their platform in the long term.
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Types of bonuses
Several brokers offer different types of bonuses. Some brokers don’t offer any bonus at all. Some main types include;
- Sign-up bonus
- Referral bonus
- Holiday bonus
- Welcome back bonus
- Discount offerings
Each bonus has its appeal and advantages. Most new traders are interested in either sign-up or referral bonuses.
IFX Brokers Bonus Types
IFX brokers offers two different types of bonuses, including;
- Sign-up bonus
- Referral bonus
These are the most commonly found bonus types in the Forex trading market. Analytics have shown that a large number of new traders are also interested in these types of bonuses.
Let’s review the bonus types that IFX Is offering.
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IFX Sign-up bonus
IFX brokers offers the most sought-after sign-up bonus. The sign-up bonus is a 100 percent deposit return bonus.
The bonus has the following characteristics;
- Deposit bonus
- 100 percent bonus
- Instant bonus
- Deposit limit based bonus
The IFX brokers deposit bonus can be used on all new trading accounts. The new trading account has to be verified and meet all the requirements of new accounts.
The IFX bonus is a 100% deposit bonus over your deposited amount. However, it has a few limits. Firstly, you can’t deposit less than 250 USD. Secondly, you can’t get a bonus of over 1000 USD. The bonus can be requested within three months.
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The bonus is not available for demo accounts.
A referral bonus is a type of bonus that requires a new trader to earn a bonus by inviting your friends to IFX brokers.
It expands IFX brokers’ business and user base. In return, IFX brokers offer a small amount of bonus to existing traders.
IFX brokers are one of the leading brokers in the South African Forex market. IFX brokers have a good bonus offering system as well for new traders.