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Forex brokers have realized they must change their business models to attract as many new traders as possible, so they’ve started developing various strategies.
One of those strategies is primarily promoting their DEMO account offerings to anyone who visits the website. It’s a good way to get somebody interested in Forex trading, especially if they use a specific brand’s software.
Giving them guidance, tips, and signals as they train on the DEMO account will help them see that there are actually some nice profits involved in the Forex market and therefore get interested in depositing actual money.
Next come the no-deposit bonus features that nearly every broker is starting to add, except those operating only in the EU. The no-deposit bonus is the perfect way to teach rookies. Not only do they get free capital, but they also get to experience the emotional pressure of placing trades. Such an experience is impossible with a DEMO account, as you don’t care if you lose or win.
With a no-deposit bonus, there’s actual, real money involved; therefore, focusing on profits is much more relevant.
These strategies have proven to work and continue to prove so, but they must be approached carefully. By very carefully, I mean that the no deposit bonus shouldn’t be too much, as traders will feel their efforts were wasted as they can’t reach the quota for withdrawals, while DEMO account users are going to get bored of trading sooner or later and drop it completely without switching to a real account.
One of those strategies is primarily promoting their DEMO account offerings to anyone who visits the website. It’s a good way to get somebody interested in Forex trading, especially if they use a specific brand’s software.
Giving them guidance, tips, and signals as they train on the DEMO account will help them see that there are actually some nice profits involved in the Forex market and therefore get interested in depositing actual money.
Next come the no-deposit bonus features that nearly every broker is starting to add, except those operating only in the EU. The no-deposit bonus is the perfect way to teach rookies. Not only do they get free capital, but they also get to experience the emotional pressure of placing trades. Such an experience is impossible with a DEMO account, as you don’t care if you lose or win.
With a no-deposit bonus, there’s actual, real money involved; therefore, focusing on profits is much more relevant.
These strategies have proven to work and continue to prove so, but they must be approached carefully. By very carefully, I mean that the no deposit bonus shouldn’t be too much, as traders will feel their efforts were wasted as they can’t reach the quota for withdrawals, while DEMO account users are going to get bored of trading sooner or later and drop it completely without switching to a real account.
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