I am aware of some advice online that is strongly against using a deposit bonus. The justification is that you might amplify your losses… it is true, but it is not entirely related to the deposit bonus.
I would say the following…
A deposit bonus can really boost your profits, but use it only if you are already profitable and have a working trading strategy and plan. If you are still experimenting, then you should do it through a small trading account size with as low leverage as possible.
What do you need to know about deposit bonuses?
Almost every broker, including IronFx, keeps the right to remove the bonus from your account at any time, according to the terms and conditions. The main problem some traders face is that when they keep opening a losing trade that amount has exceeded the initial deposit amount, the broker is withdrawing the bonus they have deposited into their account.
So, as I said, use a bonus if you know what you are doing and have a strict risk management plan.