Forex Chief provides a bonus program that aims to increase client income with Turnover Bonuses. You will often find programs like this in other Forex Brokers as a rebate or cashback program. The difference in the Forex Chief program will be automatically active without the need to first activate or register through a partner broker.
Turnover is paid automatically on the last day of the trading day, which is Friday after the market closing time. The amount of turnover paid is calculated from the aggregate turnover for two transactions, order opening transaction and order closing transaction. Depending on the number of turnovers you get per week, the value paid will increase per million USD.
BUY 1 lot EURUSD (1 lot = 100,000 EUR) order opened at a price of 1.1257 and closed at 1.1283. Trading turnover in USD for this order = (100,000 * 1.1257) + (100,000 * 1.1283) = 225,400 USD
SELL 5 lot USDJPY (1 lot = 100,000 USD) order opened at a price of 109.806 and closed at 109.352. Trading turnover in USD for this order = (500,000 * 1) + (500,000 * 1) = 1,000,000 USD
BUY 3.5 lot GBPUSD (1 lot = 100,000 GBP) order opened at a price of 1.2978 and closed at 1.2985. Trading turnover in USD for this order = (350,000 * 1.2978) + (350,000 * 1.2985) = 908,705 USD
You can use all types of MT4 accounts to join this bonus program, but unfortunately this program cannot be combined with the $ 100 Welcome Bonus program. The good news is that this program does not have complicated rules and bonuses paid can be withdrawn or used in trades at any time.
Read on this Forex Chief Promotion page for more detail.