Best Forex Bonuses for Traders
Free Forex Bonuses, No Deposit Bonus & Rebates
With so many different Forex brokers to choose from, choosing the right one can be complicated. After all, so many brokers boast fast execution, competitive spreads, and a wide range of tradeable assets. So, what can really make a Forex broker stand out from the crowd? The Forex bonuses and promotions it offers. Forex bonuses aren't available in all jurisdictions, but when they are available, they can provide great incentives to traders looking for their first broker or for a new broker.
Different types of Forex bonuses will appeal to different types of traders and may even signal what type of trader a specific broker is looking for. For example, a small no deposit bonus is ideal for emerging markets, where interest in Forex trading is widespread, but capital for trading is often limited or unavailable. With a Forex no deposit bonus, new traders can start their first portfolio and learn how to trade in a live trading environment, without the need to risk their limited capital resources. It helps brokers to build a relationship with traders and convert recipients of bonuses into depositing traders. Other bonuses reward existing clients based on trading volume, which can unlock an additional revenue stream and boost overall profitability. Trading contests, often disguised as Forex bonuses, can be of great appeal to experienced traders who think they can not only conquer the markets, but can out-trade other traders as well.
There are many bonus offers available today, but not all are beneficial to traders. Therefore, reading and understanding the terms and conditions remains essential before accepting any offer. Always remember that brokers must turn a profit, which is the primary incentive why a bonus campaign exists. It does not mean that the bonuses on offer are bad for traders, as well-established and trustworthy brokers offer some very beneficial offers that can assist committed long-term traders. Deposit bonuses, granted with each deposit, will go a long way in building a portfolio so that it can yield the desired results. Make sure that any incentive will suit your trading goals and not the other way around. Selecting the right bonus or opting to go without one can have a significant impact on your trading outcome.
Here is a list of bonus campaigns from seven well-established brokers:
AVATrade
Up to $10,000 welcome bonus
Minimum deposit of $1000 required
Why Avatrade?
- Well-regulated broker globally
- Transparent about involved trading costs
- Comprehensive asset selection, especially for equity traders
- Excellent proprietary mobile trading platform
- In-depth educational section
- Full support for automated and social trading
FXTM
Collect up to $5 with every trade
FXTM Loyalty Program registration required
Why FXTM?
- Trusted and well-regulated broker
- Low minimum deposit of $10 with a maximum leverage of 1:2000
- Excellent educational division and in-depth market research
- Competitive pricing environment
- FXTM Invest supports retail account management
- Third-party add-ons for MT4/MT5
IFC Markets
Up to X% welcome bonus
The requirement for a Welcome Bonus is a minimum deposit of $1,000
Why IFC Markets?
- Trusted broker with over 14 years of operating experience
- Innovative proprietary trading platform
- Over 600 assets plus 30,000 synthetic ones
- Competitive spreads and maximum leverage of 1:400
- Autochartist and comprehensive in-house research
- Excellent educational section
Moneta Markets
50% deposit bonus
$500 minimum deposit required
Why Moneta Markets?
- Member of trusted Vantage International Group
- User-friendly proprietary trading platform
- Excellent trading tools
- Maximum leverage of 1:500
- Web TV channel
- Daily technical trading recommendations
XM
50% deposit bonus
Available only in certain countries. T&Cs apply
Why XM?
- Multi-regulated and trusted trading environment
- Comprehensive asset selection
- Competitive commission-free spreads
- Maximum leverage of 1:888 from a minimum deposit of $5
- No requotes or dealing desk
- Outstanding trading tools and add-ons for MT4/MT5
Fineco Bank
50 first trades free
Must be used in the first two months
Why Fineco Bank?
- Leading Italian bank and online broker in Europe
- Excellent proprietary trading platform
- Outstanding asset selection
- Very competitive cost structure
- Automatic ETF investments
- In-depth educational offering
Want to better understand your options when it comes to Forex bonuses?
Check out the quick explanations below to get an idea of which type of promotion is best for your trading style.
Trading Bonus
This type of Forex bonus is ideal for intermediate to advanced traders who will be able to reach certain trade volumes successfully without wiping out. While trading bonuses may sound appealing to new traders, it may be hard for novices to meet the requirements in order to be eligible for the payout.
No Deposit Bonus
As an incentive, a Forex no deposit bonus is extremely rare, mostly because it commits the Forex broker to provide something (usually money) to the trader without demanding a deposit. If you can find a Forex no deposit bonus, it’s a good idea to read the fine print before submitting your personal details.
Deposit Bonus
An ideal incentive for new traders, a Forex deposit bonus offers exactly what its name suggests – a monetary award or incentive for new traders who are depositing into their account for the first time. While it may be possible to find deposit bonuses for repeat deposits, this type of Forex promotion is not as common as a deposit bonus for a broker’s new clients.
Forex Rebates
Another promotion that is suited for intermediate to advanced traders, a Forex rebate is the opportunity for a trader to receive money back into his account for every trade placed. This differs slightly from the Forex trading bonus, which usually has a set threshold of trading volume that must be met in order to receive the rebate.
Ready to get started?
Choose the right free Forex bonus from the chart above and test it out – it may be just the incentive you’ll need to succeed in the Forex market!