What Bonuses are available at Fortrade?
There are two types of bonus that may be applied to your account, the Balance Bonus and the Credit Bonus:
Balance Bonus – this is the standard bonus which may be received when you make a deposit to your account and is entirely at Fortrade’s discretion.
Credit Bonus – this is an alternative bonus with additional Terms and Conditions (see subsequent paragraph), it is also entirely at Fortrade’s discretion.
Balance Bonus – Terms and Conditions:
1. Bonuses will be added to an account after the full document verification process is completed.
2. Bonuses cannot be withdrawn until the client reaches their target volume, which is set according to the bonus amount given.
The client has to fill a trading requirement of 0.1 lot* for every 1 USD/GBP/EUR bonus given in order to reach their target volume, for example:
If a client got a 100 USD/GBP/EUR credit bonus, he will have to trade 10 lots before his credit bonus is converted to balance, and becomes a part of his capital.
* 1 a lot value per instrument is defined in the trading conditions file.
For example if the bonus is £30, once the trading volume on FX markets arrives to the total amount of £300,000 (multiply the bonus by 10,000) it is possible to withdraw the £30 bonus.
Varying lots are allocated depending on the type of product traded, for example 1 lot is allocated for:
£100,000 nominal trade placed on FX
1,000 barrels of Crude Oil (CL)
100 oz. of Gold (XAU)
3. The volume count is per closed trades only, for example:
If a client opens a 1 lot trade on EUR/USD, the volume will not be counted until the trade is CLOSED.
4. The volume count is done only when a client has an ACTIVE bonus in their account.
5. Balance bonus can be used for the purpose of leverage.
6. If multiple bonuses are allocated then these will be consolidated into a single bonus, for example five $100 bonuses will be consolidated as one $500 bonus and cannot be divided afterwards.
7. When a client fulfills the required amount of 0.10 lots for every EUR/ USD/GBP of cash credit bonus, it will automatically become a part of his capital, and can be withdrawn.
8. In the following countries bonuses are approved only if the deposit is made via wire transfer: Indonesia, Vietnam, China, Pakistan, Ukraine, Cote d’Ivoire, Bangladesh, Russia and Egypt.
9. Bonuses are limited and are at the discretion of the company. Bonuses are subject to cancelation by company policy at any time.
Credit Bonus – Additional Terms and Conditions:
1. Credit Bonus cannot be lost nor withdrawn until the client reaches their target volume, which is set according to the bonus amount given.
2. In case a client has not reached their target volume, the credit bonus will be removed automatically when their EQUITY falls below the CREDIT BONUS amount. The client will get STOPPED OUT in that case, and their open positions will be closed accordingly.
3. When a client fulfills the required amount of 0.10 lots for every EUR/ USD/GBP of cash credit bonus, it will automatically become a part of their capital, and can be withdrawn or used for trading.
4. The credit bonus can be reactivated if a client re-deposits at least 30% of its value, for example:
If a client received a credit bonus of 1,000 GBP, and reached a trading volume of 50 lots before getting stopped out, when he re-deposits an amount of at least 300 GBP, they are entitled to reactivate the old credit bonus, and the volume count continues from where they left off.
5. In case you get a new credit bonus which is higher than an old cancelled bonus – the volume count will continue from where it left off. For example:
If you get a 1,000 USD credit bonus and trade 5 lots, get stopped out/withdraw your money the bonus will be cancelled. Then you re-deposit and get a higher bonus (2,000 USD for example), the volume count will continue from 5 lot.
6. In case you get a new credit which is lower than an old cancelled bonus – the volume count will be set to 0. For example:
If you get a 1,000 USD credit bonus and trade 5 lots, get stopped out/withdraw your money the bonus will be cancelled. Then you re-deposit and get a new lower bonus (500 USD for example), the volume count will Re-start from 0.