Deposit bonus brokers
FBS is the first broker to make our listing for having some of the top promotions and bonus offers in the industry.
Top forex bonus list
Top 10 best forex brokers with bonus and promotions for 2021
Top rated:
Are you on the lookout for the best forex brokers with bonus and promotions to offer?
They can be tricky to find, but if the answer is yes, then you are certainly in the correct place. Here we will give you all of the information you need, not only on the top recommended brokers if you are looking for a bonus, but also what these promotions mean, and how they can best work to your benefit as a trader.
With that in mind, let’s take a closer look at the best brokers we have found that can offer bonus and promotions to you as a trader.
Are these bonuses really free money?
Although it may be hard to believe at first, it is true. The bonuses really are free money that is sent to your account by the broker. Now what is often asked is, can I withdraw these bonus funds?
Generally, the answer is yes with most top brokers. Their policy will vary though and in many cases, there are certain trading criteria that you must meet in order to withdraw the bonus funds from your account.
What should I check when choosing a bonus?
There are a couple of very important steps that you must run through when checking the bonus that you should choose, and the broker who is providing that bonus.
First off, it is vital that you read the terms and conditions carefully, so you know exactly what is on offer. Added to that, it is important to consider the whole offering of a broker. This means not only the bonus amounts, but what else they have to offer such as spreads, minimum deposits, and more.
Please note that the following bonuses may not be available in every country, and that brokers are not allowed to offer these to customers based in the EU or UK due to local regulatory restrictions. Read T&C before applying to a bonus.
Top 9 forex brokers with bonus and promotions
Here are the top 9 forex broker bonus and promotion offers we have found available:
1. FBS
FBS is the first broker to make our listing for having some of the top promotions and bonus offers in the industry. They are well-known as being a very respected broker around the world, and they have a huge amount of bonuses on offer.
At FBS you can win a wide range of prizes from holidays to new cars, and you can also double your deposit with the great FBS 100% deposit bonus they have in place. An FBS no deposit bonus is also available at no-risk at all to your funds as well as a cashback bonus if certain conditions are met. The FBS bonus offering continues to grow and expand with many contests and challenges also available where you can win cash, trips, and VIP event invites. They also run contests directly on social media like facebook where all you need to do is share posts with your friends. These are just some of the reasons why FBS is a top bonus broker for all traders.
XM is another top international broker, and one of the most easily recognizable in the industry. They too offer a strong range of bonuses and promotions. These start with an excellent $30 no deposit bonus which you can use for completely risk-free, real money trading.
Beyond this you will also find a deposit bonus of up to $4500 which means your deposit will be matched by the broker with free money up to this high value. Aside from those regular types of bonus offerings, XM also runs a lucky draw which has a huge total value of $1,000,000. As a regular trader with the broker you can also join their loyalty program which is points based. You can redeem these points through your trading actions to obtain a wide range of great benefits with the broker.
Please note that these bonuses may not be available with every XM entity
3. Instaforex
Instaforex is the next broker to make the top list of brokers providing bonuses and promotions. They too are very well-trusted by a broad range of traders across the industry. They start their bonus offering with one of the very best no deposit bonus offers in the sector. This is the instaforex $1,000 no deposit bonus.
Further to this monster bonus offer, the broker also provides a deposit bonus of 30% so you can always receive an additional 30% on top of your initial deposit as risk-free bonus funds to trade with the broker. Added to this, instaforex makes a huge range of contests and challenges available where you only need to have a demo account to participate and win. Here you can win a great range of physical prizes including cars, money, and much more.
4. Fxopen
The next broker on the list offering top promotions and bonuses is fxopen. They kick their bonus offering off with a $10 no deposit bonus. This is great if you are new to trading and looking to try out the broker with no risk at all to your own money.
Another great offer for beginners is the $1 welcome bonus on micro accounts. This makes sure you are covered to trade with free money, even at lower risk levels. Like many of the other brokers they also provide access to a large number of trading contests with a unique prize attached. This prize is that if you reach a certain benchmark of profit in the contest with virtual funds, they will then turn 10% of these funds into real money for you to trade with. A very attractive bonus proposition indeed from this popular broker.
5. Roboforex
Roboforex are in on the act too as another respected top broker offering bonuses and promotions to their traders. The excellent bonus infrastructure here starts with a deposit bonus that can be either 10%, 60%, or a huge 120% depending on how much you are depositing.
The offers do not stop there with roboforex either. Just for joining the broker, you will be entitled to a $30 welcome bonus. This can be used for completely risk-free trading on the markets of your choice. You will also be entered into weekly and monthly contests which are free to enter but where you can win real prizes on both demo, and live accounts. Regular traders are not forgotten either with cash rebates stretching up to 15% based on how much you trade.
6. Hotforex
Hotforex are one of the cornerstones of the industry and regularly feature as a top broker in many listings. They too have a very strong bonus infrastructure though it may not be available in every country the same. This is particularly true in europe.
Outside of that though, their offer is strong. They provide a number of unique bonuses the first of which is a 100% credit bonus. This acts to double your deposit with completely free bonus funds. They also offer a very unique 30% rescue bonus. This bonus protects your funds from drawdowns up to $7,000. The 100% supercharged bonus is one of their most popular though. This provides for a huge amount in cash rebates that can reach up to $8,000, on top of a 100% deposit bonus. All of these great offerings maintain hotforex as a very popular bonus broker of choice.
Please note that these bonuses may not be available with every XM entity
7. Octafx
Octafx is another popular, and rapidly growing name in the sector. They are not stepping back when it comes to offering a bonus either. If you are trading with this broker, the first thing you may want to try out are some of the demo account contests.
These great contests come with prizes of up to $500 real cash if you are trading through metatrader, and $150 if you are using ctrader. If these pique your interest, then you can decide to deposit for real, and benefit more from a 50% deposit bonus which is on offer. On top of this, there are many other prizes including merchandise to be won from a broker who is strong, trusted, and growing all the time.
8. FXTM
FXTM is one of the biggest names in the industry. They have also not forgotten a strong bonus infrastructure, and for this reason, they too feature on our list of the best brokers for bonus offers and promotions.
At the core of the FXTM bonus offering is their excellent loyalty program. Here, the more you trade, the more you can get paid. At the maximum level you have the ability to earn as much as $10,000 from the program. Also offered by the broker are a great range of both demo and live trading contests where you can compete against your fellow traders to win top prizes.
9. Vantage FX
Vantagefx is next in our selection of the best forex brokers who offer a good range of bonus systems. Here you will be able to take advantage of a 50% deposit bonus that will allow you to trade risk-free with bonus cash from the broker based on how much you deposit.
Vantagefx also offers a great and very rewarding loyalty program where you can avail of 10% rebates on your trades up to $2 per lot traded when you deposit at least $1,000. With the broker and this program, there is no limit on the trade size at all. The higher the lot size you trade, the higher your bonus will be.
Different type of bonuses
When choosing your forex broker bonus, it is also important to keep in mind that there are many different bonus types available. Here is a more detailed look at exactly the kind of bonuses that are offered by brokers:
Forex deposit bonus: the forex deposit bonus is a certain amount of money offered as a bonus based on the amount which you deposit. In the case of many brokers, this can mean matching your deposit amount with an equal bonus amount.
Forex no deposit bonus: A forex no deposit bonus, as you might gather from the name, is a bonus which is offered to you with no deposit required. In most cases, you simply have to complete the registration process. This money is free and can be used in real trading at no risk to your own money.
Welcome forex bonus: the welcome bonus can be similar to a no deposit bonus. You will get a bonus money amount for completing registration, and in some cases based on the amount of your first deposit.
Loyalty program: A forex broker loyalty program, just like any other, is usually based on how much you use the service. In this case, the more you trade, the more you will be rewarded by such programs. These rewards could come in the form of lower trading costs, additional premium trade tools, physical prizes, access to live events and meetings, and much more.
Points system: the forex broker point systems can also be based on loyalty programs. With these systems, the more you trade, the more points you will earn. These points can then be used to access monetary prizes, cars, vacations, and more.
Cash back and rebates: cash back and rebate programs are also a very common form of bonus. Just as the name suggests, with this form of bonus, you can earn money back for each lot you trade.
Money protection bonus: this is not a very common form of forex broker bonus, though it exists, nonetheless. This kind of bonus from your broker actually protects your funds from reaching a certain negative level, and in some cases, anything beyond this negative point can be refunded.
Forex contest prize: there are a wide range of brokers who organize contests which you can participate in with virtual funds against other traders. If you win some of these contests through making the most profit from virtual funds, then you can win all kinds of great prizes including cash, cars, and more.
Why do brokers offer forex no-deposit bonuses and other bonuses?
There are several reasons why your broker may offer a no deposit, or other type of bonus. One of the primary reasons for this is to create value for you as a trader, and to attract new traders to the industry and that broker.
This method is accepted in many parts of the world, though not in europe. Within the EU, the offering of the majority of these kinds of bonuses is not allowed by the regulator. ESMA does this in a large part to protect beginners from getting involved in trading without the proper knowledge and ultimately losing their money.
Tips on how to choose a bonus and a broker
If you are thinking about choosing a forex broker, the bonus is just one element of this choice, and it should not be a large factor in your decision-making process. First and foremost, you have to choose a broker who is trustworthy, and well-regulated. Luckily all of the brokers on our listing are both of these things.
Once you have done this, then you can think about the bonus they are offering, but do not make your choice based on the broker bonus alone. You have to consider all of your trading needs. In this case, you may want to try out a broker first. This would be a great time to select a no deposit bonus broker so you can try out their real trading at no risk to you.
Top 10 forex brokers with no deposit bonus – A synopsis
- Introduction
- What is a forex bonus?
- Forex bonuses - different types
- What are the pros and cons of forex bonuses?
- How does a bonus in forex work?
- How to find the best forex bonus?
- The best forex bonuses
- Pax forex - recommended for US traders - 100% bonus
- Avatrade | 2 x $200 forex welcome bonuses
- Markets.Com | £25 forex no-deposit bonus
- Plus-500 | £20 no-deposit forex
- FBS | best forex no-deposit bonus - $100 bonus
- XM | multiple forex options offered
- CMC markets | 2 x $200 forex welcome bonuses
- HYCM | 10% deposit bonus up to $5,000
- Tick mill | $30 sign-up deposit bonus
- Templerfx | $30 no-deposit bonus
- A quick overview
- Factors considered
- Conclusion
Introduction
The global trading market encompasses various offers to attract new traders and beginners with no trading experience. The forex market is one such platform, which has gained popularity over recent years with offers like no-deposit bonus, welcome bonus that forex brokers present for new traders without using their real money. The forex bonuses provide optimal trading conditions according to the preference; for example, offering bonuses for elite traders and beginners. When trading happens on real money, they also help choose the right forex broker to trust and pump up the deposits. However, one has to be careful as there is considerable risk involved.
To summarize, the forex brokers offer a welcome bonus for beginners who do not have a trading account. They offer a matched deposit bonus, which means there is a free bonus provided after the initial deposit, or they offer no deposit bonus.
What is a forex bonus?
A bonus acts as a marketing tool or cost-effective promotion, and the brokers offer to persuade beginners to make deposits. Many top forex brokers suggest this option as it allows for forex trading without risking their funds. This option is accessible to the consumers once they open a forex account or demo account in the chosen platform. Though the bonus is beneficial for traders and investors, brokers suggest this option to gain benefits in the long run.
Forex brokers use the deposit bonuses option as a tool to entice investors and traders to forex trading, providing them knowledge about trading conditions, forex account, demo account, trading bonus, and welcome bonus and help the clients make an informed decision. In simple terms, they offer free money that cannot be withdrawn immediately from the trading account but can be traded for other prospects.
Forex bonuses – different types
There are two types of forex deposit bonuses to choose from – a deposit bonus and a no deposit bonus.
Forex no-deposit bonus
It is often known as a complimentary bonus without deposit, as traders are offered a free bonus without a deposit being made. The brokers make the deposits once traders activate their live account on the platform, which allows them to understand the live trading conditions and explore different options without jeopardizing their funds. This enables the novice and seasoned traders to utilize the bonus fund and develop in-depth knowledge about the brokerage platform and its systems. The accessibility of a free bonus varies depending on the broker.
Initial deposit bonus
A deposit bonus is an additional sum credited to the trader’s account once they make their first deposit. If traders make a higher initial deposit, they unlock a greater deposit bonus. For example, the broker may suggest new customers a 100% matched bonus up to £500. Once they make the deposit, the broker will credit their account with the respective bonus amount.
This gives investors a chance to boost their trading account and use the bonus funds to set limits for their trades. However, the brokers often list down a set of terms and conditions regarding the accessibility of the bonuses and profits made. Some may set minimum/maximum consignment for the trading bonus, while others set certain rules for trading through the live account.
Sometimes the brokers may demand to trade a certain amount before withdrawing the free bonus or maintain a set amount of money in their accounts for a specific period before trading them. Hence, forex bonuses list out certain terms of conditions that one needs to be aware of.
What are the pros and cons of forex bonuses?
How does a bonus in forex work?
How forex brokers bonus work?
To understand how the forex works in a live trading environment, one needs to be aware of a few terms. They are:
Deposit bonus:
The deposit bonus is the most sought-after. As stated earlier, the broker will match the deposit by a certain percentage –with a welcome bonus.
Traders can claim a 100% matched deposit bonus with a forex broker. The forex broker may allow access to a maximum bonus of £1,000, a deposit made by the client. Upon making the deposit, the broker will then credit their account with an additional £1,000. The starting balance becomes £2,000 – even though the broker credited their account with £1,000.
No-deposit bonus:
Forex no deposit bonus rewards traders with a bonus without making a deposit. These bonuses are highly popular because the trader can gain a bonus without risking any funds. However, the no deposit bonuses comprise smaller sums that are credited in comparison to a deposit bonus.
Traders can claim a £20 no deposit bonus with a forex broker. Once traders open an account and verify their identity, the forex broker funds their account with the £20 no deposit bonus. It is credited instantly to the trader’s accounts for trading the bonus funds.
Terms and conditions for bonus:
The forex trading and gaining free bonus funds on the platform may sound simple, but it is not easy to cash out the profits. One needs to be aware of the listed terms and conditions that brokers employ.
Minimum trade amount to withdraw:
There is a complicated process to withdraw the bonus that is made. For example, if one deposits £500 and receives a £250 bonus, which totals to £750. Traders cannot withdraw the whole sum directly from the forex broker, as this would not benefit the platform. Hence, the platform sets limits and persuades them to use the bonus funds to trade. These bonus funds are often frozen until their conditions are met. Usually, a partial amount from the bonus is made accessible for pay-outs when they meet the requirements of trading the set amount. For example, the broker might give £1 from the bonus for every £10,000 traded.
This is suitable for people who are:
- Regular traders who place dozens of trades per day.
- Often play through the set amount of the trades.
- People with typically large trade sizes.
Time limit:
Traders also need to consider the time limits that the bonuses are set with. This is a strategy followed by the platforms to make the cash out of bonuses a difficult task. Often, brokers will set a certain period. Such as- 30 days to trade the bonus funds before invalidating withdrawals.
Eligible pairs:
In some instances, the forex no deposit bonus might set down restrictions on certain currency pairs. Hence, make sure to go through the terms and conditions to ensure the trading forex pair is permitted.
Supported nationalities:
Some australian forex brokers choose to permit bonuses to only certain nationalities. Hence, traders are advised to use the domain according to the country of residence.
Minimum deposit:
Most bonuses are set with a minimum deposit amount. Often, promotions only list the maximum bonus amount that can be used. Hence, ensure to go through the terms and conditions to find the preferred packages.
How to find the best forex bonus?
The global foreign exchange market is vast and comprises different kinds of traders. Therefore, it offers many options for every type of trader. However, not every deal is beneficial since many platforms advertise no deposit bonus and manipulate the user funds. So, it is advised to go through the terms and conditions for no deposit offers before signing up for the bonus.
Research
Before signing up, one needs to make sure to cross-check if the platform is legitimate and trustworthy. Even though the investors have trading experience, FX trading can trick them and manipulate them. Hence, always double-check by browsing the platform’s rules and regulations and the list of guidelines given by the forex broker. Finally, check the list of authorizations it has received from the regulatory bodies in the industry.
Reading reviews
For successful forex trading, make sure to find a broker with experience in forex trading. The web is filled with brokers, and every platform is crammed with reviews. Though there are many options for traders to choose from, it is difficult with many reviews to go through. Often, there is a chance of these reviews being proxy or duplicate, which they make up. Hence, it is always advised to check the detailed reviews, explain the challenges they have dealt with, and the practical solution to tackle such problems in reference to the past.
Payment methods
Payment methods give an option of investing in the trading account with real money. Therefore, ensure that the brokers provide flexible options to make the payments with the preferred mode of payment. Likewise, ensure that the broker allows the cashing out of the bonus or profits gained from the forex no deposit bonus, as many brokers restrict the withdrawal of the profits made.
Broker’s background
The reputation of the broker depends on the reviews and their alignment with the law. Always ensure to find a broker with approval and certifications from notable institutions in the industry. A regulatory authority assures the economic strength of the broker and its integrity towards its traders. There are many countries with rules and restrictions for forex brokers in the field. Finally, ensure that the trader is reliable by browsing the keywords such as forex broker name+ review, scam, fraud. Example: forex broker name scam and ensure that no negative reviews are showing up.
Always be alert and stay as safe as possible while trading the forex. As the field is risky, keep track of the listed factors before trading with brokers and ensure that they keep the funds safe and secure.
The best forex bonuses
There are many forex brokers to choose from, and making the right selection is a challenging task. Several factors are considered, such as fast execution, competitive spreads, and the range of tradable assets. Hence, different types of options or bonuses are listed down to attract different types of traders. They assist the trader in finding the specific broker with the desired profile. With forex no deposit bonus, new traders can learn trading in a live trading environment and build their portfolio without risking their capital resources. However, these bonus offers do not necessarily benefit all traders.
Therefore, traders need to be aware of terms and conditions before accepting or signing up for any offer. A key strategy to remember is that the brokers must gain profits, which is the primary objective of the bonus campaign. Hence, it is essential to select the right deposit forex as it significantly impacts the trading outcome.
Best brokerage account bonuses in january 2021
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Brokerages are aggressively competing for your money. One way they do so is by offering competitive bonuses that you can add right to your brokerage account. It’s important to know the best offers so that you can decide whether it’s a good time to open a brokerage account and take advantage of what is often risk-free cash.
Here bankrate tracks the best brokerage account bonuses to help you compare active offers.
Best brokerage account bonuses in january 2021
- Ally invest: $50 to $3,500
- Merrill edge: $150 to $900
- Charles schwab: $100 to $500 (personally referred friend offer)
- E-trade: $50 to $2,500
Ally invest: $50, $200, $300, $600, $1,200, $2,500 or $3,500 bonus
New ally invest clients can earn up to a $3,500 cash bonus if they open a new account by march 31, 2021. The qualifying deposit must contain funds from outside of ally financial, and a person can only get the offer on one new ally invest securities LLC account. As an extra incentive, ally will credit your transfer fees from another brokerage, up to $150 as long as you bring at least $2,500 over to the new account.
Ally invest checks your deposit 60 days after your account is opened to determine the total qualifying deposit. You’ll receive your cash bonus within 10 business days after this review.
To receive a cash bonus, you must:
- Deposit at least $10,000 in a new ally invest account.
- Be a U.S. Resident.
- Not be an existing ally invest account holder or a former ally invest account holder (which includes former tradeking securities LLC account holders). You’re not eligible to receive the cash bonus if you closed one of these ally invest accounts within the past 90 days.
You must use the “open account” button associated with this offer on ally invest’s site for opening your account to be eligible for this offer.
Here are the bonus tiers for this offer:
- To receive the $50 bonus, deposit or transfer $10,000-$24,999.
- To receive the $200 bonus, deposit or transfer $25,000-$99,999.
- To receive the $300 bonus, deposit or transfer $100,000-$249.999.
- To receive the $600 bonus, deposit or transfer $250,000-$499,999.
- To receive the $1,200 bonus, deposit or transfer $500,000-$999,999.
- To receive the $2,500 bonus, deposit or transfer $1 million -$1,999,999.
- To receive the $3,500 bonus, deposit or transfer $2 million or more.
Once you receive your bonus, both the cash bonus and your qualifying deposit (minus any trading losses that are incurred) can’t be withdrawn for 300 days. A withdrawal may cause ally invest to revoke your bonus.
Read bankrate’s ally invest review to learn more.
Merrill edge: $150, $225, $375 or $900 bonus
When you open a merrill edge IRA or cash management account and make a qualifying deposit within 45 days of opening you can earn up to a $900 bonus. You need to use offer code 900ME during the account opening. This can be done while applying online or using it when speaking to a merrill edge financial adviser on the phone or at select bank of america branches. This offer expires april 15, 2021.
To receive a cash reward, you must:
- Enroll for the offer at the time of account opening.
- Deposit net new assets of at least $20,000 into your merrill edge account within 45 days of opening the account.
- You must be enrolled in the preferred rewards program within 90 days of making the deposit.
- Maintain that balance for at least 90 days.
The offer limits you to one IRA — rollover, traditional, roth and sole-proprietor SEP only — and one cash management account. Each account holder can’t have more than two enrolled accounts.
Assets from bank of america, merrill lynch, pierce, fenner & smith incorporated (MLPF&S), U.S. Trust, or 401(k) accounts administered by MLPF&S aren’t qualifying net new assets.
You’ll receive your cash reward two weeks after the initial 90-day period, assuming you meet eligibility requirements.
Business/corporate accounts, investment club accounts, partnership accounts and certain types of fiduciary accounts held at merrill edge aren’t eligible for this offer. The offer also doesn’t apply to accounts, which include iras or cmas, held with other business units of MLPF&S.
Here are the bonus tiers:
- To receive the $150 cash reward, deposit $20,000 to $49,999.99.
- To receive the $225 cash reward, deposit $50,000 to $99,999.99.
- To receive the $375 cash reward, deposit $100,000 to $199,999.99.
- To receive the $900 cash reward, deposit $200,000 or more.
Read bankrate’s merrill edge review to learn more.
Charles schwab: $100, $200, $300 or $500 (if you’re referred by a friend)
Schwab is offering personally referred friends the opportunity to earn up to $500 when they use a referral code, given to you by a current schwab customer, and open an eligible account at schwab.
To receive the bonus award, you must:
- Receive a referral code from a friend or family member.
- Be a new schwab client and make a qualifying net deposit within 45 days of both becoming a schwab customer and opening an eligible retail brokerage account.
You’re limited to one per account and only one account per client when you receive a referral.
Schwab retail brokerage accounts and iras are eligible for this offer. This includes accounts that are enrolled in schwab-sponsored investment advisery programs, such as schwab intelligent portfolios, schwab managed portfolios, schwab managed account select and connection and schwab private client.
You’ll receive your bonus approximately a week or two after the 45-day period ends if you made a qualifying deposit when becoming a new schwab customer and enrolling in the referral offer.
Schwab may charge back its bonus award if taxable accounts aren’t kept at schwab for at least one year.
Here are the bonus tiers for this offer:
- To receive a $100 bonus, deposit $1,000-$24,999.
- To receive a $200 bonus, deposit $25,000-$49,999.
- To receive a $300 bonus, deposit $50,000-$99,999.
- To receive a $500 bonus, deposit $100,000 or more.
Read bankrate’s charles schwab review to learn more.
E-trade: $50, $100, $150, $200, $300, $600, $1,200 or $2,500 bonus
You can earn a cash bonus if you open a retirement or brokerage account and fund it with $5,000 or more within 60 days of account opening. Your account must be opened by jan. 31, 2021.
To receive a cash bonus, you must:
- Use promo code WINTER21 when opening the account.
- Open your new account with funds or securities from accounts outside of E-trade. You need to also keep the new account (minus any trading losses) for at least 12 months to keep the cash bonus.
Here are the cash bonus tiers for this offer:
- To receive a $50 bonus, deposit or transfer $5,000-$9,999.
- To receive a $100 bonus, deposit or transfer $10,000-$19,999.
- To receive a $150 bonus, deposit or transfer $20,000-$24,999.
- To receive a $200 bonus, deposit or transfer $25,000-$99,999.
- To receive a $300 bonus, deposit or transfer $100,000-$249,999.
- To receive a $600 bonus, deposit or transfer $250,000-$499,999.
- To receive a $1,200 bonus, deposit or transfer $500,000-$999,999.
- To receive a $2,500 bonus, deposit or transfer $1 million or more.
Read bankrate’s E-trade review to learn more.
Why you shouldn’t take the deposit bonus from forex brokers
It’s everywhere…brokers offering you a forex bonus, but here’s why you shouldn’t take it. “deposit $500 and we’ll give you a $100.” “we’ll match 100% of your deposit up to $1000!” have you seen them? It’s tempting to take this “free money” offer. After all, that extra cash gives your new trading career a nice boost. Don’t take the forex broker bonus. There are several reasons why.
Don’t take the forex broker bonus – withdrawal issues
The main reason not to take a forex broker bonus is that it’ll likely lead to withdrawal issues.
Let’s say you deposit $1000 into a forex account, and for this you get a $200 bonus (see day trading with $1000 or less). While this gives you $1200 in capital to trade with, you can’t withdraw that amount. In fact, while you may have $1200 in your account, if you go to withdraw $300 for emergency expenses, the forex broker won’t likely allow it. Why? Because now their money is mixed with yours. They have a vested interested in keeping your capital in the account because it protects theirs
What if you want to switch brokers, so you go to pull out your money? The bonus you accepted forces you to stay.
The only way you can withdraw the bonus, or any of your own capital, is to trade enough so that the full forex bonus is “released” to you. Typically, you need to trade $10,000 for each $1 of the bonus (read the fine print, bonus terms may vary). So in order for that $200 to become yours, you need to trade $2,000,000 worth of currency. Forex bonus terms vary, but the bottom line is that you need to trade a lot, regardless of how it’s structured. Some brokers do allow withdrawals while in the “bonus accumulation” phase, but often you’ll lose the bonus accumulated, or the bonus is pro-rated to the withdrawal amount (this is fair, but we still have other issues). This brings us to the next reason you shouldn’t take a forex broker bonus.
The forex broker bonus isn’t worth squat
Think about the above statement for a second “you need to trade $10,000 for each $1 of the bonus.” this statement seems typical across the sites reviewed (not all of them of course), but in some cases up to $100,000 needs to be traded to release just $1 of the bonus!
If the EURUSD moves 1 pip while you’re holding a mini lot ($10,000 worth of currency) that equates to a $1 increase or decrease in your account equity, depending on if the trade moves in your direction or not (see: introduction to forex trading). Essentially, the forex bonus is only worth 1 pip ($1) per mini lot trade. That amounts to squat when you really think about it.
For the potential withdrawal issues, is making $1 per mini lot trade really worth the hassle? Making 20 pips on the actual (1 mini lot) trade results in a $20 gain. Since most new traders aren’t full-time traders they’ll swing trade, seeking bigger profits from positions, potentially 100 pips or more. If you make 120 pips on a trade you make $120, or if you lose 120 pips you lose a $120. That $1 bonus per $10k traded starts to look pretty insignificant.
Thinking about this tiny amount is likely to induce you to trade more often, taking poor quality trades. Therefore, not only is the bonus worth squat, it is likely to actually negatively affect your trading.
The forex bonus is aimed at new or minimal capital traders
Let’s continue with the point above. Usually, forex broker bonuses are aimed at new traders, or traders with small amounts of capital typically depositing $5,000 or less, often $1,000 or less. If you have a $1,000 account, even with leverage it’s going to take most traders (who aren’t full-time) a long time to trade $2,000,000 in order to withdraw (their own funds and) their $200 bonus, as in our example above.
If you manage your risk and don’t risk more than 1% of your account balance on any one trade, on a $1,000 account ($1200 with the bonus) that means you can risk $12 per trade. If trading a mini lot, that means you need to take trades with a 12 pip risk or less (difference between entry price and stop loss order). You need to make 200 such trades in order to make that bonus yours. At one trade a day, that takes nearly a full calendar year. Making a trade every other day means two calendar years of trading before that bonus is yours. What if you want to make a withdrawal in that time?
Not quite as glamorous as it sounded in the ad, is it?
Now if you open an account for $10,000 and get a $200 bonus it works a bit better (see how much money do I need to trade forex?). Because you have a lot more of your own capital, you can take larger positions, and still keep your risk per trade under 1%. You attain your bonus much quicker, likely within a matter of months. But most traders who are taking this bonus aren’t depositing $5,000 or $10,000, they’re depositing $100 to $1000. If you take a $200 forex bonus on a $200 deposit you’ll likely never be able to withdraw your money. It’ll take you so long to trade the necessary $2,000,000 in currency that the learning curve in trading will have already eaten through the deposit.
So if you deposit more then a bonus is good? No!
Most forex bonuses are offered by mediocre brokers or to naive traders
Given all the information above, you’re likely now seeing that a forex broker bonus is actually a bit of a scam. Not a fraudulent one, but more of an ethical grey area. Every broker that offers a forex bonus knows the above stats, and that most traders will never get to withdraw the bonus. On top of this, by providing the forex bonus the forex broker is assured that the trader can’t withdraw funds and is thus forced to trade with them until they become profitable, attain the full bonus or lose all their capital.
What type of brokers don’t want you to withdraw funds? I’m not saying…I’m just saying.
Look up very large forex brokerages…oanda, forex.Com, FXCM, tdameritrade, interactive brokers and saxo bank…do you see “free MONEY. ” splashed across their sites? They may offer a tighter spread, rebates on commissions or some commission-free trades to very active traders, but you’ll almost never see “free money” dangled in a trader’s face. Something to think about.
NOT ALL FOREX BROKERS THAT OFFER CASH BONUSES ARE BAD (nor is the above statement recommending the brokers mentioned)! There are likely a
Other troublesome things squeezed into legal jargon
In the fine print here are a few things also of concern. The below statements have been copied and pasted from actual bonus terms and conditions on several forex broker sites:
The company reserves the right to cancel the [XX]% bonus without prior warning, so we strongly recommend refraining from use of bonus funds in developing your trading strategy. The company is not responsible for any consequences of bonus cancellation, including stop out, because the bonus is the ownership of the company until the customer earns it by completing trades of the total volume specified in the clause [X]of the present agreement.
Defeats the purpose of a bonus. If they can retract that bonus at any time, and you are trading based on the amount of capital in your account (your own capital plus the bonus), if the bonus is taken away by the broker, it could leave you in trades that are way too big for the capital left in the account (just your your capital now).
If volume requirements are not met and the equity of the account goes below the bonus amount then the bonus is removed automatically by the system. In other words, if the cash equity (equity – credit bonus) becomes zero or less, all previously awarded credit bonuses will be canceled and withdrawn from the respective client’s account. In these circumstances the company shall not be liable for any consequences of the bonus cancellation, including, but not limited to, order(s) closure by stop out.
As indicated…that money isn’t free, and if you don’t do well that “free money” is going to be taken away. While wording of terms vary from broker to broker, the underlying tone is the same: you face potential complications by accepting the bonus, it takes a lot of successful trading for that bonus to become yours, there’s no actual free money, and it’s not going to be there for you when you actually need it.
Final word on forex broker bonuses
There may be some bonuses out there that are good, with minimal strings attached. Such forex broker bonuses are rare. Read the fine print, as each situation and broker are different. As a general rule, though…don’t take it!
When you open an account explicitly state that you don’t want the bonus. Send an email or make a phone call if you have to. If some of their money makes it into your account, it will complicate things. And when it comes right down to it, the bonus is usually so small (relative to potential trading gains or losses) that it really isn’t worth it. The bonus is worth the most to the small trader, yet it favors them the least since it could take years of trading before that bonus money becomes theirs. Most small accounts are wiped out by that time. And it’s probably best to trade with a regulated broker, in a major global financial center, that isn’t offering “free money” in the first place. If you want to be a real trader, ignore these gimmicks. Find a good broker and forget about bonuses. Ultimately, forex broker bonuses equate to tripping over pennies while the focus should be on the much bigger money available from actual trading.
Read all terms and conditions before opening an account.
In order to adequately test out a forex broker you need to be able to make withdrawals. This is part of the process outlined in how to find a forex broker that’s right for you.
Over 300 pages of forex basics and 20+ forex strategies for profiting in the 24-hours-a-day forex market. This isn’t just an ebook, it’s a course to build your skill step by step.
Top 10 best forex brokers with bonus and promotions for 2021
Top rated:
Are you on the lookout for the best forex brokers with bonus and promotions to offer?
They can be tricky to find, but if the answer is yes, then you are certainly in the correct place. Here we will give you all of the information you need, not only on the top recommended brokers if you are looking for a bonus, but also what these promotions mean, and how they can best work to your benefit as a trader.
With that in mind, let’s take a closer look at the best brokers we have found that can offer bonus and promotions to you as a trader.
Are these bonuses really free money?
Although it may be hard to believe at first, it is true. The bonuses really are free money that is sent to your account by the broker. Now what is often asked is, can I withdraw these bonus funds?
Generally, the answer is yes with most top brokers. Their policy will vary though and in many cases, there are certain trading criteria that you must meet in order to withdraw the bonus funds from your account.
What should I check when choosing a bonus?
There are a couple of very important steps that you must run through when checking the bonus that you should choose, and the broker who is providing that bonus.
First off, it is vital that you read the terms and conditions carefully, so you know exactly what is on offer. Added to that, it is important to consider the whole offering of a broker. This means not only the bonus amounts, but what else they have to offer such as spreads, minimum deposits, and more.
Please note that the following bonuses may not be available in every country, and that brokers are not allowed to offer these to customers based in the EU or UK due to local regulatory restrictions. Read T&C before applying to a bonus.
Top 9 forex brokers with bonus and promotions
Here are the top 9 forex broker bonus and promotion offers we have found available:
1. FBS
FBS is the first broker to make our listing for having some of the top promotions and bonus offers in the industry. They are well-known as being a very respected broker around the world, and they have a huge amount of bonuses on offer.
At FBS you can win a wide range of prizes from holidays to new cars, and you can also double your deposit with the great FBS 100% deposit bonus they have in place. An FBS no deposit bonus is also available at no-risk at all to your funds as well as a cashback bonus if certain conditions are met. The FBS bonus offering continues to grow and expand with many contests and challenges also available where you can win cash, trips, and VIP event invites. They also run contests directly on social media like facebook where all you need to do is share posts with your friends. These are just some of the reasons why FBS is a top bonus broker for all traders.
XM is another top international broker, and one of the most easily recognizable in the industry. They too offer a strong range of bonuses and promotions. These start with an excellent $30 no deposit bonus which you can use for completely risk-free, real money trading.
Beyond this you will also find a deposit bonus of up to $4500 which means your deposit will be matched by the broker with free money up to this high value. Aside from those regular types of bonus offerings, XM also runs a lucky draw which has a huge total value of $1,000,000. As a regular trader with the broker you can also join their loyalty program which is points based. You can redeem these points through your trading actions to obtain a wide range of great benefits with the broker.
Please note that these bonuses may not be available with every XM entity
3. Instaforex
Instaforex is the next broker to make the top list of brokers providing bonuses and promotions. They too are very well-trusted by a broad range of traders across the industry. They start their bonus offering with one of the very best no deposit bonus offers in the sector. This is the instaforex $1,000 no deposit bonus.
Further to this monster bonus offer, the broker also provides a deposit bonus of 30% so you can always receive an additional 30% on top of your initial deposit as risk-free bonus funds to trade with the broker. Added to this, instaforex makes a huge range of contests and challenges available where you only need to have a demo account to participate and win. Here you can win a great range of physical prizes including cars, money, and much more.
4. Fxopen
The next broker on the list offering top promotions and bonuses is fxopen. They kick their bonus offering off with a $10 no deposit bonus. This is great if you are new to trading and looking to try out the broker with no risk at all to your own money.
Another great offer for beginners is the $1 welcome bonus on micro accounts. This makes sure you are covered to trade with free money, even at lower risk levels. Like many of the other brokers they also provide access to a large number of trading contests with a unique prize attached. This prize is that if you reach a certain benchmark of profit in the contest with virtual funds, they will then turn 10% of these funds into real money for you to trade with. A very attractive bonus proposition indeed from this popular broker.
5. Roboforex
Roboforex are in on the act too as another respected top broker offering bonuses and promotions to their traders. The excellent bonus infrastructure here starts with a deposit bonus that can be either 10%, 60%, or a huge 120% depending on how much you are depositing.
The offers do not stop there with roboforex either. Just for joining the broker, you will be entitled to a $30 welcome bonus. This can be used for completely risk-free trading on the markets of your choice. You will also be entered into weekly and monthly contests which are free to enter but where you can win real prizes on both demo, and live accounts. Regular traders are not forgotten either with cash rebates stretching up to 15% based on how much you trade.
6. Hotforex
Hotforex are one of the cornerstones of the industry and regularly feature as a top broker in many listings. They too have a very strong bonus infrastructure though it may not be available in every country the same. This is particularly true in europe.
Outside of that though, their offer is strong. They provide a number of unique bonuses the first of which is a 100% credit bonus. This acts to double your deposit with completely free bonus funds. They also offer a very unique 30% rescue bonus. This bonus protects your funds from drawdowns up to $7,000. The 100% supercharged bonus is one of their most popular though. This provides for a huge amount in cash rebates that can reach up to $8,000, on top of a 100% deposit bonus. All of these great offerings maintain hotforex as a very popular bonus broker of choice.
Please note that these bonuses may not be available with every XM entity
7. Octafx
Octafx is another popular, and rapidly growing name in the sector. They are not stepping back when it comes to offering a bonus either. If you are trading with this broker, the first thing you may want to try out are some of the demo account contests.
These great contests come with prizes of up to $500 real cash if you are trading through metatrader, and $150 if you are using ctrader. If these pique your interest, then you can decide to deposit for real, and benefit more from a 50% deposit bonus which is on offer. On top of this, there are many other prizes including merchandise to be won from a broker who is strong, trusted, and growing all the time.
8. FXTM
FXTM is one of the biggest names in the industry. They have also not forgotten a strong bonus infrastructure, and for this reason, they too feature on our list of the best brokers for bonus offers and promotions.
At the core of the FXTM bonus offering is their excellent loyalty program. Here, the more you trade, the more you can get paid. At the maximum level you have the ability to earn as much as $10,000 from the program. Also offered by the broker are a great range of both demo and live trading contests where you can compete against your fellow traders to win top prizes.
9. Vantage FX
Vantagefx is next in our selection of the best forex brokers who offer a good range of bonus systems. Here you will be able to take advantage of a 50% deposit bonus that will allow you to trade risk-free with bonus cash from the broker based on how much you deposit.
Vantagefx also offers a great and very rewarding loyalty program where you can avail of 10% rebates on your trades up to $2 per lot traded when you deposit at least $1,000. With the broker and this program, there is no limit on the trade size at all. The higher the lot size you trade, the higher your bonus will be.
Different type of bonuses
When choosing your forex broker bonus, it is also important to keep in mind that there are many different bonus types available. Here is a more detailed look at exactly the kind of bonuses that are offered by brokers:
Forex deposit bonus: the forex deposit bonus is a certain amount of money offered as a bonus based on the amount which you deposit. In the case of many brokers, this can mean matching your deposit amount with an equal bonus amount.
Forex no deposit bonus: A forex no deposit bonus, as you might gather from the name, is a bonus which is offered to you with no deposit required. In most cases, you simply have to complete the registration process. This money is free and can be used in real trading at no risk to your own money.
Welcome forex bonus: the welcome bonus can be similar to a no deposit bonus. You will get a bonus money amount for completing registration, and in some cases based on the amount of your first deposit.
Loyalty program: A forex broker loyalty program, just like any other, is usually based on how much you use the service. In this case, the more you trade, the more you will be rewarded by such programs. These rewards could come in the form of lower trading costs, additional premium trade tools, physical prizes, access to live events and meetings, and much more.
Points system: the forex broker point systems can also be based on loyalty programs. With these systems, the more you trade, the more points you will earn. These points can then be used to access monetary prizes, cars, vacations, and more.
Cash back and rebates: cash back and rebate programs are also a very common form of bonus. Just as the name suggests, with this form of bonus, you can earn money back for each lot you trade.
Money protection bonus: this is not a very common form of forex broker bonus, though it exists, nonetheless. This kind of bonus from your broker actually protects your funds from reaching a certain negative level, and in some cases, anything beyond this negative point can be refunded.
Forex contest prize: there are a wide range of brokers who organize contests which you can participate in with virtual funds against other traders. If you win some of these contests through making the most profit from virtual funds, then you can win all kinds of great prizes including cash, cars, and more.
Why do brokers offer forex no-deposit bonuses and other bonuses?
There are several reasons why your broker may offer a no deposit, or other type of bonus. One of the primary reasons for this is to create value for you as a trader, and to attract new traders to the industry and that broker.
This method is accepted in many parts of the world, though not in europe. Within the EU, the offering of the majority of these kinds of bonuses is not allowed by the regulator. ESMA does this in a large part to protect beginners from getting involved in trading without the proper knowledge and ultimately losing their money.
Tips on how to choose a bonus and a broker
If you are thinking about choosing a forex broker, the bonus is just one element of this choice, and it should not be a large factor in your decision-making process. First and foremost, you have to choose a broker who is trustworthy, and well-regulated. Luckily all of the brokers on our listing are both of these things.
Once you have done this, then you can think about the bonus they are offering, but do not make your choice based on the broker bonus alone. You have to consider all of your trading needs. In this case, you may want to try out a broker first. This would be a great time to select a no deposit bonus broker so you can try out their real trading at no risk to you.
XM deposit bonus: policies and limitations
Platform
Expiration
Min. Volume
If you are someone who trades on the forex market for a while now, you shall definitely know the XM forex broker. As that is undeniably one of the most reliable and trustworthy ones out there. However, if you are a beginner, you shall undeniably consider taking a look at it. This is a broker you should go for if you are looking for trust and reliability, as well as if you are seeking for the beneficial XM deposit bonus.
With the metatrader 4 and metatrader 5 platforms, the brokerage gives you a wide spectrum of ways to increase your trading profit. Moreover, that allows you to get the deposit bonus we will talk about in more details in that article. Reliability is vital for one to make a deposit with a broker and this is why we have decided to highlight the main points of the XM deposit bonus. However, now without any hidden conditions, XM gives you an impulse with their new deposit bonus for you to start trading right away. Should you or shouldn’t you go for it? Find out in the XM bonus review!
XM deposit bonus description
XM forex broker guarantees that your account will be increased by 50% for any deposit below $1,000. Thus, if you deposit, for instance, $50, then you will get an additional bonus of $2.50. And your trading capital will reach $7.50.
However, the maximum amount of the bonus that might be received equals $500. That means that you are granted a 50%-bonus only until your deposit does not exceed $1,000.
Once your deposit amount is more than $1,000, you will still have that 50% added on the first $1,000 of your deposit. Also, 20% will be given as a bonus for any amount more than that.
This means if you deposit an amount of USD $22,500, your account balance will become USD $28,500. The math on this is pretty simple and you can see it in more details in this table:
Any account holder can have his own bonus! No matter if you are a new customer or have been trading with XM for years. However, as you see from the table above, the biggest bang for your buck can be achieved with actually a $1,000 worth deposit.
XM bonus limitations
That is important to mention that the bonuses are not available on the XM ultra low account, as well as on the XM shares account.
This is not a limited one-time deal offer. If a client an XM bonus deposit worth $250 four times, $125 will be added each time to the account until it reaches the $1,000. However, the maximum bonus a person can receive is $5,000. Trading bonus is there to help new and existing clients to hold their positions open for a longer period. XM forex bonus is not eligible for clients registered under trading point of financial instruments ltd and trading point of financial instruments UK ltd.
XM trading bonus withdrawal policies
Even though getting a deposit bonus is easy with that broker, the withdrawal procedure is not that primitive. And is rather targeted to make traders leave the funds on their accounts.
Therefore, when you are trying to withdraw funds from your XM bonus account, the broker will charge you with the amount of the bonus that will be proportional to the amount of the funds for withdrawal. Just to illustrate: imagine you deposited $1,000 and you were given $500 as a bonus (50%). Then you decided to withdraw $250 (25%) out of $1,000 available, as you still can’t withdraw the bonus. As a result, a total sum of $125 (25% of the bonus) will be removed.
But, for instance, if you have managed to generate some additional profit, then the picture will be a bit different. Imagine that you have deposited $1,000, received a $500 worth XM deposit bonus, and things turned out to be great for you. And you gained a profit of $2,000 from trading. Now you have $3,000 available to withdraw and you want to take them all out of the account. In that case, $500 of the bonus will be removed just because that will equal 100%. Maybe the table will help you to understand that easier:
Another XM bonus program
XM forex broker is constantly coming up with innovative bonus programs that will ensure that traders will stay loyal and interested. Thus, augmented XM points service was recently launched as an added bonus one may use while trading on the platform. You can subscribe and unsubscribe to that any time you want without any restrictions.
XMP has a status of reward for the loyal customer. Thus, as you trade, you received those bonus points that might be later transferred to the monetary bonus. That can be calculated in the following way:
However, in order to received XMP in the first place, you need to create an account and sign up for the loyalty program. There are several you may choose from XM executive, XM gold, XM diamond, XM elite.
If you are the part of the executive loyalty program, then you will receive 10XMP per lot straight away. If you are the gold loyalty program’s member, then you will receive 13XMP per lot after at least 30 days of trading. If you are a member of diamond loyalty program, then you will be guaranteed to receive 16XMP per lots only after 60 days of trading on the platform. Finally, if you are the holder of elite loyalty program, then you will be provided with 20XMP per lot after 100 days of trading with XM broker.
So, imagine you have 10,000XMP gained and you have decided to redeem 3,000XMP. Then, according to the formula provided above, you will receive $1,000 of bonus and will still have 7,000XMP on your account to convert and withdraw later.
However, there are some details worth mentioning when it comes to withdrawal of XMP from an account. For instance, you have 3,000XMP to redeem and you have gained an additional $1,500 while trading that you are allowed to withdraw. You have decided to withdraw only the part of it, $750, which is 50% of the total sum stored on the account. That means that the same 50% will be removed from your XMP bonus, which will equal $500 (3,000XMP / 3= $1,000). Take a look at the table below to understand the process better:
XM broker account types
There are various account options available while registering with the XM broker. Thus, you can choose between micro, standard and XM ultra low one. They differ depending on the size of lots, as well as the minimum deposit rate and leverage, availability of the bonus.
- The micro account has a leverage of 1:1 to 1:888, the spreads can be as low as 1 pip, the minimum deposit can be $5, the minimum trade volume is 0.01 lots, and there is no commission charged. However, you won’t be able to obtain an XM deposit bonus on that account.
- The standard account has a leverage of 1:1 to 1:888, the spreads can be as low as 1 pip, the minimum trade volume is 0.01 lots, the minimum deposit is $5 as well. And you can obtain bonus using that account.
- The XM ultra low account has a leverage of 1:1 to 1:888, the spreads can be as low as 0.6 pip, the minimum deposit should be at least $50, the minimum trade volume is 0.01 lots, and there is no commission charged. And you cannot get the bonus on that account as well.
Among the currencies available for trading there are:
- USD
- EUR
- GBP
- JPY
- CHF
- AUD
- HUF
- PLN
- RUB
Advantages
Even though we would recommend you to open an account with XM, there is one big benefit of the XM deposit bonus. It comes with a multi-account availability. When an XM bonus deposit comes to an account and then it’s transferred to another one, the bonus value will be transferred as well! The system calculates the share of the bonuses that should be transferred and makes sure you get an equal proportion on your other account. This is quite comfortable, as many brokers would simply remove your bonus if you try to move funds from one account to another.
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No deposit
Starting your forex trading with a no deposit forex bonus is an excellent way to start. And that’s because you’re not risking any of your own money. You get a real live trading account, with real money and don’t have to put up any of your own precious cash. Your live account practicing is paid for by the broker. Make a profit and you keep it, lose money and you’ve lost nothing of your own.
*CFD service. 80.6% lose money
What is a free no deposit forex bonus?
Competition amongst forex brokers has started a bit of a trend – forex bonus UK no deposit. A great advantage for all you new traders out there! A forex no deposit bonus is completely free, as it’s the broker who is sponsoring the forex account. All that is required is that you complete an application form for a new account and that account will be credited with the bonus that the broker is offering, meaning you can start trading straight away.
The advantages of this bonus are:
- You get to try out the brokers trading platform, without risking any of your hard earned cash
- You can practice your trading skills and gain some valuable experience
- You get the chance to make a profit but if it all goes wrong you lose absolutely nothing
how cool is that!
But there are some important features of a forex bonus UK no deposit offer that you should keep in mind. Namely that you can usually withdraw any profits you make but in order to withdraw the bonus itself you will have to meet certain conditions. Each broker will have its own specific requirements but as a rule it generally means funding your account with an actual deposit or meeting certain trading volume requirement. Also the no deposit bonus tends to be fairly minimal for example $25 – $50. This should enable you to open only the most basic account, as in a micro account. This small amount of money will actually limit the experiences you can enjoy as trading foreign currencies is much different if you’re trading larger amounts.
How to get your free forex no deposit bonus UK
Each broker will have their own specific requirements but they do have a few things in common. You will have to download the software that the broker features and create an account. It’s not really complicated and you usually only have to provide a few personal details. You then carefully follow the steps given by the broker, which often involves entering a promotional code. There are rules you have to follow and the bonus is only offered for new customers and limited to one bonus per household.
Can you cash out a forex bonus UK no deposit?
The simple answer is no, not straight away. And that’s really understandable. Why would a broker offer a free no deposit bonus if it wasn’t to attract new customers and get them trading. It is usual that a broker will require you trade a number of positions before you cash out any bonus received. But if you’re serious about forex trading why would you want to cash out at all. Don’t worry too much about cashing out such a small sum but instead set yourself a limit of say $10 000 before you cash out.
Having said that don’t turn down the chance of trying a broker offering a no deposit bonus. After all it’s free money!
Tips for profiting from a no deposit bonus
- Don’t turn down the chance to make a profit however small the no deposit may be. Even if you make some terrible trades you won’t be losing any of your own money. All the experience you can get will be worth it in the long run.
- You’re not risking anything at all so go for it and practice your strategies as often as you can.
- Be careful of any conditions the broker may have. Read the small print carefully and make sure you completely understand any specific requirements.
- Brokers offer these bonuses to test out their trading platforms and attract new customers so grab this free chance to win.
- This is a great opportunity to hone your skills so take it and we’re pretty sure you’ll have no regrets, and hey you could even make some money.
We hope that the information we’ve given you will help you with your new financial venture. All that’s left now is to remind you that trading in foreign currencies is a risky business. Using a forex free no deposit bonus is a great way to start. Don’t make the mistake of jumping in with both feet and putting up truck loads of your hard earned cash. Start simply and practice, practice, practice before you trade for real.
50% bonus on each deposit
1. Open an account
2. Make a deposit in your account
3. Increase your deposit by half with our bonus
4. Withdraw bonus funds
| your deposit amount | $400 |
| 50% bonus we provide | $200 |
| divide your bonus by half | $200/2 |
| number of lots to trade | 100 lots |
Trade more and get more profit with our bonus
Without bonus
Get more profit using 50% bonus 50% bonus
Manage your bonuses wisely
Know when to apply the bonus: you can activate it for your deposit at any time.
Decide upon the bonus amount you want to apply.
If you cancel the bonus, mind that it will be deducted from your free margin at full.
When your bonus progress hits 100% you can use this money for other accounts and go on investing.
What you can do with a deposit bonus
Every day
- Apply for a 50% bonus.
- Set a maximum leverage.
- Open positions of up to 750 times greater than your initial investment.
On special occasions
- Make a deposit and track our offers.
- Seize the best trading conditions during our events.
- Multiply your profit potential 2,000 times.
Promotion rules
- And
- Deposit bonus can only be claimed by a verified customer.
- The bonus amount available is 10% to 50% for each deposit amount. You can also claim 100% bonus during certain special offer periods.
- Bonuses are available in multiples of 10%, so you can claim 10%, 30%, 50% or 100% on a deposit, but not 11%, 25%, or 47%, for example.
- The bonus cannot be added to internal transfer deposits and to deposits from contests/promotions, etc. Unless stated otherwise.
- Deposit bonus shall not be credited in case account free margin is less than your bonus amount.
- Ctrader deposit bonus can only be claimed by a verified customer.
- The client can claim a deposit bonus on each deposit he makes. The bonus amount available is 10% to 50% for each deposit amount. You can also claim 100% bonus during certain special offer periods.
- Bonuses are available in multiples of 10%, so you can claim 10%, 30%, 50% or 100% on a deposit, but not 11%, 25%, or 47%, for example.
- "total bonus" denotes the total amount of bonus in a client’s account. Total bonus comprises all the bonuses claimed by the client for the trading account. Total bonus is affected when a part of the total bonus is withdrawn or cancelled or when additional bonuses are credited to the client’s account.
- "active bonus" denotes the amount of bonus which can be used to open positions by adding it to the account’s equity. The amount of active bonus cannot exceed 100% of the account’s unrealized profit & loss + balance, therefore this value will fluctuate according to live conditions.
- Ctrader deposit bonus can’t be used instead of, separately or before the account’s balance. If the account’s balance is zero, so will be the amount of active bonus.
- It is required to trade (bonus amount)/2 (bonus amount divided by two) standard lots to be able to withdraw a bonus.
- The deposit bonus cannot be added to internal transfer deposits and to deposits from contests/promotions, etc., unless stated otherwise.
- The deposit bonus shall be added to the total bonus in your account and remain there until the volume requirements are met or the bonus is canceled. After the required volume is traded the bonus will be withdrawn from the total bonus in your account and an equal amount of money will be added to your account’s balance.
- The bonus for each deposit is considered a separate bonus and will have its own volume requirements.
- Volume calculation starts from the first bonus and continues consecutively. This means that you can't withdraw later bonuses before you trade the required volume for the first bonus, and so on. The volume calculation starts from the moment the bonus is credited to the client’s account. The required volume for each deposit is calculated separately.
- The bonus can be withdrawn ONLY if by the moment of lots calculation, the bonus is still present in the account. If a client had traded the required volume, but the bonus has already been canceled, it would not be added or compensated.
- If the trader's own funds are withdrawn after the bonus has been credited, the bonus will be canceled.
- A client can cancel deposit bonus at any time. Once deposit bonus is cancelled, it cannot be reinstated.
- Octafx may reject client's bonus application(s) at any time without prior notification or providing reasons for such decision.
- Octafx may cancel a client's bonus at any time without prior notification.
- Any situation not described in these rules shall be subject to the company's decision.
- Octafx reserves the right to change, update or cancel this promotion with notification in the company news.
Bonuses explained in examples:
ex.1: you make a 1000 USD deposit and get a 500 USD bonus. Your account balance will be 1000 USD, equity 1000+500=1500 USD, total bonus 500 USD. To be able to withdraw this bonus you will need to trade 500/2=250 standard lots, without time limit. Later you make another 800 USD deposit to your account and get a 400 USD bonus. Your balance will be 1800 (1000 + 800) USD, equity will be 2700 (1000+500+800+400) USD, total bonus will be 900 (500+400) USD. To be able to withdraw the second bonus you will need to trade another 400/2 standard lots.In this example after you trade first 250 standard lots and complete the volume requirements for the first deposit bonus in your account, the bonus amount (500 USD) will be withdrawn from the total bonus, leaving its value at 400 (900 -500) USD. At the same time the equal amount of money (500 USD) will be added to your account’s balance.
Ex.2: you make 200 USD deposit and get 100 USD bonus. The balance in your account will be 200 USD, equity 300 USD, total bonus 100 USD, active bonus 100 USD. Then you close 1 unfortunate trade with a loss of 110 USD. Account balance will be 90 USD, total bonus will still be 100 USD, but active bonus will be also 90 USD now, therefore equity will be 180 USD.
Top 10 forex broker bonus no deposit 2020
Check out the latest offers and promotions to find the best no deposit bonus. Brokers offer you a free bonus and allow you to start trading without depositing your money and risking your capital. All you need to do to get your free bonus is find a trusted broker and open an account.
No deposit forex bonus is a bonus on a real forex account that a forex broker gives to first-time investors without having to make a new deposit.
Forex broker bonus no deposit :
guideThe forex no deposit bonus is one of the most exciting promotions for newbie investors. You can practically start trading in the forex market without any initial investment.
Because up to 10% * of active forex brokers offer a no deposit bonus when you sign up with them.
No deposit forex bonus is the latest welcome package that brings in a new investor and encourages them to start trading.Most of the first time investors are unwilling to invest their money.
This is why brokers encourage them by putting money into a new account as part of their forex promotion. Of course, you have to meet certain conditions to open an account with them.
You should also check the reputation of your brokers before accepting any of them. Of course, investors cannot withdraw the money they receive for free.
They can only use them for trading purposes as per the broker’s requirements. In this guide, we will tell you everything you need to know about no deposit forex bonuses.
You will also find where you need to go to learn more about no deposit bonuses.
Forex broker bonus no deposit :
what is no deposit forex bonus?Before we get into the details, let’s make sure that you understand exactly what a no deposit forex bonus is.
After all, even if you get a good offer, you are still putting money on the line.
So it always pays to do the analysis ahead of time – and make sure you know what you’re getting yourself into.
A no deposit forex bonus is called a forex bonus because you don’t have to make a deposit before you receive it.
It is also only granted once to welcome you on board.
In the past, it was quite common for people to get a free bonus for trading in the forex market.
It was a smart way for brokers to encourage their clients to trade more with them in the future.
Fortunately, the concept of a free bonus is still quite common.
Is a forex no deposit bonus a welcome bonus?
Forex broker bonus no deposit :
is a forex no deposit bonus a welcome bonus?There are many reputable brokers who still give out no deposit bonuses, sometimes referred to as “welcome bonus”.
Additional note: the welcome bonus is the term used by forex brokers to describe the forex bonus.
This can mean both a deposit bonus and a no deposit bonus.
Although you shouldn’t think of it as “free money”, this is how people who are new to the world of forex can trade.
No deposit no verification forex bonus
Forex broker bonus no deposit :
no deposit no verification forex bonusYou usually start by giving your name and email address (and in some cases your phone number) to a broker.
You will need to create an account with a broker and the details they need will vary depending on your individual needs.
Some brokers may require an invoice or passport to prove their identity, while other brokers offer a no deposit no verification forex bonus.
Additional note: it is best to verify your account to rule out any issues that may arise if you wish to make a withdrawal in the future.
What happens when you have verified your personal information?
You will receive a free bonus on your account.
Top forex no deposit bonus in 2020
For a quick glance, we’ve put together a top forex no deposit bonus for year 2020
What can you do with a free no deposit bonus?
Forex broker bonus no deposit :
what is no deposit forex bonus?Now let’s see the benefits of using a no deposit forex bonus.
Without having to deposit your own money (although some brokers may require a small deposit amount to recover), you can start trading.
This way you can learn how to trade in the forex market, and if you make a mistake, you won’t have to pay for it yourself.
And so, you will be trading real money, not just fictitious digital money.
So what exactly can you trade?
You will be happy to learn that bonuses are a great way to practice trading commodities, forex and even crypto currencies.
We know this no deposit bonus seems like a win for you as an investor, but a loss for the broker.
However, you have to keep in mind that their purpose is to provide people with the convenience of trading in the forex market.
When you know that it’s not your own money that is at risk of loss, you’ll be much more likely to exercise – and get involved.
Once you do this, you will be amazed not only how lucrative it is, but also how cool forex trading can be.
But what about my profits?
So far in this guide we have only talked about how forex no deposit bonuses will benefit you if you lose money.
Of course, we also know that you want to understand what will happen if you make a profit!
Will you be able to withdraw this money from your account?
Or maybe because it wasn’t really your money, it will go back to the broker?
One of the best things about no deposit forex bonuses is that you will actually be able to keep the profits you make.
Yes, by keeping it that way we mean you can take your profit out.
You can choose to use what you have earned to invest your money in forex trading.
What if you are feeling lucky but forex trading is not for you?
Don’t worry – you can opt out.
Start trading forex with your profit
If you make money with no deposit forex bonus, it means you are good.
You can now reinvest the profit you have earned from the no deposit bonus into different types of trading accounts.
You will be able to specify your objectives as well as the amount of your initial deposit.
There are accounts that allow you to start trading even if you only deposit a dollar.
There are accounts that don’t have spreads, as well as options that allow you to take a close look at your potential profit.
Once you have gained some trading experience, you can improve and play with different types of accounts.
In short, the possibilities are virtually endless!
Is there a catch?
After analyzing and processing hundreds of no deposit bonuses, we realize that requesting a no deposit bonus and withdrawing profits might not be the easiest thing to do.
Each forex broker has their own terms and conditions. These rules are designed to protect the best interests of the forex broker, as well as to prepare investors to make a deposit and start trading.
Although applying for a no deposit bonus is a fairly straightforward process, you start to notice the limitations when trading with a no deposit bonus. However, the final step of withdrawing profit can be much more difficult than you might think.
We have identified most of the obstacles and restrictions associated with obtaining a bonus and withdrawing profits.
How to request no deposit forex bonus
We’ve told you that requesting a no deposit bonus is the easiest process – and it’s not far from the truth. We have identified two ways that forex brokers work.
So, let's see, what we have: looking for the best forex brokers with bonus and promotions? Discover this, and everything you must know, on bonuses and promotions! At deposit bonus brokers
Contents
- Top forex bonus list
- Top 10 best forex brokers with bonus and promotions for 2021
- Are these bonuses really free money?
- What should I check when choosing a bonus?
- Top 9 forex brokers with bonus and promotions
- Different type of bonuses
- Why do brokers offer forex no-deposit bonuses and other bonuses?
- Tips on how to choose a bonus and a broker
- Top 10 forex brokers with no deposit bonus – A synopsis
- Introduction
- What is a forex bonus?
- Forex bonuses – different types
- What are the pros and cons of forex bonuses?
- How does a bonus in forex work?
- Deposit bonus:
- No-deposit bonus:
- Terms and conditions for bonus:
- Minimum trade amount to withdraw:
- Time limit:
- Eligible pairs:
- Supported nationalities:
- Minimum deposit:
- How to find the best forex bonus?
- The best forex bonuses
- Best brokerage account bonuses in january 2021
- Advertiser disclosure
- How we make money.
- Editorial disclosure.
- Share
- Editorial integrity
- Key principles
- Editorial independence
- How we make money
- Best brokerage account bonuses in january 2021
- Ally invest: $50, $200, $300, $600, $1,200, $2,500 or $3,500 bonus
- Merrill edge: $150, $225, $375 or $900 bonus
- Charles schwab: $100, $200, $300 or $500 (if you’re referred by a friend)
- E-trade: $50, $100, $150, $200, $300, $600, $1,200 or $2,500 bonus
- Why you shouldn’t take the deposit bonus from forex brokers
- Don’t take the forex broker bonus – withdrawal issues
- The forex bonus is aimed at new or minimal capital traders
- Most forex bonuses are offered by mediocre brokers or to naive traders
- Other troublesome things squeezed into legal jargon
- Final word on forex broker bonuses
- Top 10 best forex brokers with bonus and promotions for 2021
- Are these bonuses really free money?
- What should I check when choosing a bonus?
- Top 9 forex brokers with bonus and promotions
- Different type of bonuses
- Why do brokers offer forex no-deposit bonuses and other bonuses?
- Tips on how to choose a bonus and a broker
- XM deposit bonus: policies and limitations
- XM deposit bonus description
- Another XM bonus program
- XM broker account types
- Advantages
- No deposit
- What is a free no deposit forex bonus?
- How to get your free forex no deposit bonus UK
- Can you cash out a forex bonus UK no deposit?
- Tips for profiting from a no deposit bonus
- 50% bonus on each deposit
- 1. Open an account
- 2. Make a deposit in your account
- 3. Increase your deposit by half with our bonus
- 4. Withdraw bonus funds
- Trade more and get more profit with our bonus
- Without bonus
- Get more profit using 50% bonus 50% bonus
- Manage your bonuses wisely
- What you can do with a deposit bonus
- Promotion rules
- Top 10 forex broker bonus no deposit 2020
- Forex broker bonus no deposit : guide
- Forex broker bonus no deposit : what is no deposit forex bonus?
- Is a forex no deposit bonus a welcome bonus?
- No deposit no verification forex bonus
- Top forex no deposit bonus in 2020
- What can you do with a free no deposit bonus?
- Forex broker bonus no deposit : what is no deposit forex bonus?
- But what about my profits?
- Start trading forex with your profit
- Is there a catch?
- How to request no deposit forex bonus
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