Best Forex Bonus 2024
Are you interested in Forex no-deposit bonuses or sign-up and verification promotions? We have researched and compiled a list of the best offers on the market that are safe and advantageous for traders. From simple account funding to meeting specific conditions—discover how to earn more in 2024.
Top 5 Best Forex Bonuses in 2024
| Broker | Bonus Type | Bonus Amount | Get Bonus |
|---|---|---|---|
| InstaForex | No-Deposit Bonus | $1000 | Get Bonus |
| Roboforex | Welcome Bonus | $30 | Get Bonus |
| Admirals | Welcome Bonus | 100%, up to $5000 | Get Bonus |
| FIBO Group | Welcome Bonus | $30 | Get Bonus |
| XM | Welcome Bonus | 100%, up to $5000 | Get Bonus |
After thorough research of numerous offers in the Forex market, our experts have compiled a list of the five most attractive bonus programs for traders. This exclusive ranking features outstanding no-deposit and welcome bonuses and bonuses that require a deposit.
This ranking makes choosing the optimal bonus for yourself much easier, and you can implement your trading strategies more effectively.
Why do we recommend these bonuses?
Reputable companies. All Forex brokers in our ranking have been rigorously checked and have a positive reputation among traders and experts.
Attractive offers. We considered the bonus amount and the withdrawal terms, making these offers genuinely beneficial.
Flexible terms. Brokers with the best promotions usually provide flexible trading conditions, significantly increasing your chances of success.
Bonuses for everyone. Regardless of your experience and deposit size, this ranking has offers that you will appreciate.
InstaForex's Free No Deposit StartUp Bonus
Broker InstaForex offers a no-deposit StartUp bonus that new company clients should consider. This program provides extensive opportunities for beginner traders and includes many attractive features.
Bonus Terms
Bonus Type: No Deposit.
Bonus Size: 1000 USD.
Account Currency: USD.
Account Type: Standard type accounts. MT5 accounts are not eligible.
Fund Withdrawal: Bonus funds cannot be withdrawn, but profits from trading with bonus funds are available for withdrawal according to established conditions.
Other Restrictions: If the new account is not funded within 7 days, it will be converted to a demo account.
What do we like about InstaForex's bonus?
Ideal for beginners. This no-deposit bonus allows new traders to start trading without any financial risk.
Flexible withdrawal conditions. While the bonus funds cannot be withdrawn, their profits are available for withdrawal, which is a significant advantage.
Platform Support. Additional features, such as copying trades through the ForexCopy program, make this bonus even more attractive.
Broker Reliability. InstaForex is a well-known and respected broker, adding extra confidence when using this bonus.
The StartUp bonus is an excellent opportunity for new traders to begin their career in Forex trading with minimal risks. It provides a financial safety net and allows you to try different trading strategies without risking your funds.
RoboForex's Welcome Bonus $30
RoboForex offers a unique Welcome Bonus to new clients eager to start trading Forex. This free bonus provides initial trading funds and offers a range of unique advantages.
Bonus Terms
Bonus Type: Welcome.
Bonus Size: 30 USD.
Account Currency: USD or EUR.
Account Type: Available for standard and cent accounts on MT4/MT5 platforms.
Verification: Identity, address, and phone number verification required.
Minimum Deposit Amount: An account must be funded with a minimum of 10 USD via a bank card.
Profit Withdrawal: Profits can be withdrawn using both personal and bonus funds.
What do we like about RoboForex's bonus?
Initial Funds: A 30 USD bonus offers a great starting position for new traders looking to try trading without significant risks.
Flexible Fund Withdrawal: Profits earned using personal and bonus funds are available for withdrawal, making this bonus attractive.
Simple Verification: The verification process is straightforward and quick, allowing for a swift start in trading.
Wide Selection of Account Types: The bonus is available for various account types, including standard and cent accounts, making it accessible to traders of different experience levels and capital.
RoboForex's Welcome Bonus provides a fantastic opportunity for newcomers to the Forex. This bonus reduces risks and offers the chance to explore the platform and trading strategies without risking large amounts of money.
Admirals' $100 No-Deposit Bonus
Admirals presents one of the most attractive offers in the Forex for 2024 — 100% Welcome Bonus. This offer is available to new and existing clients outside the EU and UK.
Bonus Terms
Bonus Type: Welcome Bonus.
Bonus Size: 100%, up to $5000.
Eligibility: Clients residing outside the EU and UK.
Profit Withdrawal: The bonus available for withdrawal is calculated weekly. The amount available for withdrawal is $10 for every $1 million of transaction value.
Restrictions: Only trades lasting at least 3 minutes are considered.
Account Types: Trade.MT5, Trade.MT4, Zero.MT5, Zero.MT4.
Activation: Via the Dashboard in the Admirals control panel.
What do we like about Admirals' bonus?
Availability. The bonus is available to new and existing clients, which is a significant advantage.
Profit Withdrawal Opportunity. While the bonus cannot be withdrawn, the profits earned from trading can be.
Risk-Free Trading. This bonus allows for trading without any financial risks, perfect for beginners and those wanting to test a new strategy.
Easy Activation. All you need to do is log in to the Dashboard and activate the bonus, making the process quick and hassle-free.
Admirals' No-Deposit Bonus is a fantastic opportunity for traders of any level to gain real Forex trading experience without any financial risks. With such conditions and opportunities, this bonus is certainly worthy of consideration.
FIBO Group's Welcome Bonus $30
FIBO Group offers one of the most attractive Forex bonuses out there. The FIBO Group's welcome bonus concept is straightforward: new clients who meet specific criteria receive $30 in their trading account.
Bonus Terms
Bonus Amount: $30 (or equivalent in another currency at the company’s internal rate).
Account Types: MT4 NDD, MT4 Fixed.
How to Receive: Confirm your email and phone number and complete full verification in the Client Area.
Activation: A bonus code for activation may be sent via email or presented by a company representative.
Additional Requirement: A deposit of at least $10 is required to activate the bonus.
Trading Conditions: Bonus funds can be used in trading without restrictions and are included in the drawdown.
What do we like about FIBO Group's bonus?
Accessibility. A sizeable initial deposit is not required for the bonus, just $10.
Flexibility. Bonus funds can be used on different accounts and in various currencies.
Fair Terms. Very transparent and understandable conditions for profit withdrawal. You need to make 16 trades with a standard volume, which is feasible for experienced traders.
Drawdown Protection. Bonus funds are included in the drawdown, which can be a proper 'safety cushion' for beginners.
Overall, the welcome bonus from FIBO Group appears to be an excellent opportunity for new traders to start trading without risking large sums and for experienced ones to have another chance to increase their capital.
XM's 100% Welcome Bonus
XM's 100% welcome bonus is among the most beneficial and attractive offers in the Forex market for 2024.
Bonus Terms
XM offers new clients an enticing welcome bonus of up to $5000. This bonus is credited automatically and instantly upon opening a real account. For every entire standard Forex lot traded, the bonus is $10. To receive the bonus, you need to:
Open a real account with XM.
Gain access to the Client's Area.
Trade and accumulate total standard lots.
The number of lots traded and the corresponding bonus amount can be tracked through the Member's Area. The bonus is automatically credited to the trading account after applying. The Client's Area page displays all necessary data for obtaining the bonus.
What do we like about XM's bonus?
Flexibility. XM's bonus system allows you to control the bonus amount based on your trading volume.
Generous Bonus Amount. With a bonus of up to $5000, this program is one of the greatest in the Forex market.
Instant Credit. The absence of delays in bonus crediting means you can use it immediately in trading.
Loyalty. Participation in the XM loyalty program further enhances the attractiveness of this bonus.
Transparency. All information about the bonus is easily accessible through the Client's Area, making obtaining and using the bonus as transparent as possible.
Profit Withdrawal Possibility. XM allows profit withdrawal anytime, while the credited bonuses are annulled proportionally to the funds withdrawn.
What is a Forex Bonus?
Forex bonuses are marketing tools brokerage companies use to attract new clients or retain existing ones. These bonuses can vary, ranging from no-deposit bonuses provided to traders without making any deposits to various deposit bonuses, cashbacks, and loyalty programs.
Why Do Forex Brokers Offer Bonuses?
Forex brokers offer bonuses with several key objectives:
To attract new clients. The financial markets are highly competitive, and brokers use bonuses to attract potential clients. Bonuses can be the first step in building long-term relationships with new traders.
To retain existing clients. Bonuses may also be aimed at keeping current clients, encouraging them to continue trading, and actively use the broker's services.
To increase trading activity. Additional funds in an account can boost trading activity, which, in turn, leads to increased commissions and profits for the broker.
For advertising and branding. Bonuses are an excellent way to enhance brand recognition and create buzz around the Forex platform.
To test new features. Some brokers offer bonuses to encourage using new tools or platforms, allowing traders to familiarize themselves with them without financial risks.
To differentiate services. Offering unique or high-quality bonuses can help a broker stand out from competitors.
For data and analytics. The active use of bonuses also provides brokers with valuable data on trader behavior, which can be used to improve services and develop new products.
To reinforce loyalty. Regular bonuses and loyalty programs can strengthen relationships with current clients, increasing their satisfaction and loyalty to the broker.
It's important to note that, despite all the benefits, bonuses often come with terms and conditions. Traders should carefully read the terms of bonus provisions to understand precisely how they work.
Pros and Cons of Using Forex Bonuses
Utilizing Forex bonuses comes with its set of pros and cons. It's important to carefully examine the terms and consider whether they align with your trading strategy and the level of risk you are willing to accept.
Advantages of Bonus Offers
Additional capital. One of the most attractive aspects of Forex bonuses is the opportunity to receive additional funds for trading, which can increase your trading power and allow you to open more prominent positions.
Risk reduction. Using bonus funds can reduce the trader's financial risk level.
Platform testing. Bonuses allow you to familiarize yourself with the trading platform and its tools without financial commitments.
Incentive for learning. For novices, it’s an excellent way to start learning about Forex trading without significant financial losses.
Reward for activity. Some brokers offer bonuses as a reward for trading activity or reaching a particular trading volume.
Risks and Limitations
Withdrawal conditions. Most bonuses come with strict conditions for funds withdrawal. It is essential to carefully study these conditions to understand when and how to withdraw bonus funds.
Increased risk. Bonuses can tempt traders into imprudent and risky trades despite the additional capital.
Restrictions on trading instruments. Sometimes, bonus funds can only be used for trading specific financial instruments.
Bonus expiration. Some bonuses expire, after which unused funds will be annulled.
Hidden terms. There's always a risk that a broker may introduce additional, non-obvious terms that can make profit from the bonus more difficult.
Impact on psychology. The presence of bonus capital can distort the realistic perception of risks, leading to erroneous trading decisions.
Different Types of Forex Bonuses
Each type of bonus has its features and may suit different types of traders depending on their strategies, experience, and trading preferences. It's crucial to thoroughly examine the terms and requirements before deciding on a bonus.
The following are the Forex bonuses available:
Welcome Bonus
Forex Deposit Bonus
Forex No-Deposit Bonus
Cashback and Loyalty Programs
Switch Broker Bonus
Refer-a-Friend Referral Bonus
Welcome Bonuses
Welcome bonuses are designed for new clients and are activated after registering on a trading platform and after the first deposit. Typically, these bonuses provide small funds or a percentage of the first deposit. They offer newcomers a chance to start trading quickly and become acquainted with the platform's features.
Best Welcome Bonuses in 2024
| № | Broker | Bonus Amount | Claim the Bonus |
|---|---|---|---|
| 1 | Roboforex | $30 | Claim the Bonus |
| 2 | FIBO Group | $30 | Claim the Bonus |
| 3 | XM | 100%, up to $5000 | Claim the Bonus |
| 4 | Tickmill | $30 | Claim the Bonus |
| 5 | Forex Chief | 100%, up to $500 | Claim the Bonus |
Deposit Bonuses
This category of bonuses will interest both new and experienced traders. Deposit bonuses are provided when funding a trading account and are often expressed as a percentage of the deposit amount. For instance, if you deposit $1,000 with a 20% bonus, you will receive an additional $200 in your trading account.
Best Deposit Bonuses
| № | Broker | Bonus Amount | Limitations | Get Bonus |
|---|---|---|---|---|
| 1 | Roboforex | 120% | Up to $50,000 bonus | Get Bonus |
| 2 | InstaForex | 100% | Deposit up to $2,000 | Get Bonus |
| 3 | AMarkets | 100% | Up to $10,000 bonus | Get Bonus |
| 4 | FIBO Group | 20% | Up to $5,000 bonus | Get Bonus |
| 5 | Grand Capital | 40% | Up to $20,000 | Get Bonus |
No-Deposit Bonuses
No-deposit Forex bonuses are top-rated among beginners as they do not require personal funds to start trading. After registration and account verification, the broker provides a small sum for trading. However, such bonuses often come with stringent withdrawal conditions.
Best No-Deposit Bonuses in 2024
| № | Broker | Bonus Amount | Restrictions | Claim the Bonus |
|---|---|---|---|---|
| 1 | InstaForex | $1000 | Only trading profits from bonus funds can be withdrawn. If the account is not funded within 7 days, it will convert to a demo account. | Claim the Bonus |
| 3 | NPBFX | $100 | The bonus is available for trading and can be withdrawn with the profits. | Claim the Bonus |
| 4 | FreshForex | $99 | The bonus is available for 7 days and cannot be withdrawn. | Claim the Bonus |
| 5 | Forex Chief | $100 | The bonus can be withdrawn after trading a turnover of $10 million. | Claim the Bonus |
The Catch with Forex No Deposit Bonuses for Registration
Many Forex brokers with no-deposit bonuses never allow the bonus funds to be withdrawn routinely. The trader must fulfill conditions to withdraw real money, often a minimum trade volume. For instance, to withdraw $10, the client must trade 1 lot (100,000 of the base currency).
Sometimes, a restriction allows only the profit, not the bonus itself, to be withdrawn (the so-called non-withdrawable bonus). Brokers may also limit the number of trades over a certain period (no less than a set number) or open the bonus deposit for a limited time.
With the restrictions above and a small account, traders cannot manage risk appropriately, often leading to capital loss.
Brokers are aware of this significant risk, and for them, the bonus without making a deposit is an excellent way to attract a client, accustom them to interact with the platform, and not spend significant funds.
No-deposit bonuses should not be considered entirely useless either. Their use provides several advantages:
You can familiarize yourself with the broker's operations in practice, evaluate the platform, and the accuracy of order execution.
The trader learns about live trading and how to cope with the excitement.
There is also a chance to meet the broker's conditions and earn real money.
Ultimately, the bonus is free. And even if the trader does not achieve success – no problem, new no-deposit bonuses are often offered by various brokers.
Cashback and Loyalty Programs
These bonuses are aimed at retaining experienced and active clients. The scheme often operates on a cashback basis: traders receive back a certain percentage of the spreads or commissions paid to the broker. This encourages clients to trade long-term on the platform and increases their trading activity.
Top Forex Brokers with CashBack Program
| № | Broker | Cashback Amount | Dependent On | Get Bonus |
|---|---|---|---|---|
| 1 | Alpari | Up to 20% of spread or commissions on ECN accounts | Trading volume | Get Bonus |
| 2 | Roboforex | Up to 15% rebates | Trading volume | Get Bonus |
| 3 | AMarkets | Up to $14 per lot | Trading volume | Get Bonus |
| 4 | NPBFX | Up to 60% of the spread or up to $7 per lot | Trading volume | Get Bonus |
| 5 | Grand Capital | Up to $1.5 per lot | Number of days of continuous trading | Get Bonus |
Switch Broker Bonus
This type of bonus is intended for Forex traders who decide to change their current broker and move to a new trading platform. Switch broker bonuses can often be very generous and include monetary incentives and other benefits such as free educational materials, trading signals, or even a personal consultant.
The rationale behind such bonuses is simple: brokers want to attract experienced traders who already have specific expertise and trading volume. For many, it's an excellent opportunity to re-evaluate their current trading conditions and potentially secure more favorable offers on a new platform.
List of Brokers with an Account Transfer Bonus
| № | Broker | Bonus Amount | Claim the Bonus |
|---|---|---|---|
| 1 | AMarkets | 20% on deposit | Claim the Bonus |
| 2 | NPBFX | 30% of the transferred funds | Claim the Bonus |
Refer-a-Friend Referral Bonuses
Referral bonuses have become a popular method of attracting new clients in the Forex world and other sectors. The concept is simple: you invite a new trader to the platform and typically receive a certain sum or a percentage of the new client's trading turnover. This benefits all parties: the broker gains a new client, the new client usually receives some start-up bonus, and you get your share for the referral.
Referral programs can vary and include different reward structures. They can be one-time or cumulative, where you receive a certain percentage of your referred client's profits or trading turnover over a certain period.
If you're interested in how to earn from referral programs, we recommend looking into the best Forex brokers affiliate programs.
Typical Conditions for Withdrawing Forex Bonuses
Withdrawing bonus funds is often a complex process with its rules and limitations. Typically, brokers set so-called "trading volume conditions" that require the trader to perform a specific volume of trading operations before the bonuses become withdrawable.
Trading Volume Conditions. This is the number of trading operations or turnover required to withdraw the bonus.
Validity Period. Some bonuses have expiration dates, and the reward is annulled if the conditions are unmet within the set time.
Types of Trades. Brokers may limit the trades that can be made using bonus funds.
Minimum Withdrawal Amount. Even after meeting all conditions, a minimum amount can be withdrawn using the bonus.
Always familiarize yourself with the rules and conditions before deciding to receive a bonus. This will help you understand how feasible it is to meet the conditions and withdraw the bonus funds.
How to Earn Money Using Bonuses?
Earning money using a bonus is more challenging than working with a real account or participating in Forex contests. In addition to the mentioned restrictions, brokers offer excessively high leverage for such small capital.
However, there is a solution. The bonus is not always credited automatically after registering and verifying a trading account. Often, a separate request from the trader to the broker is required. Writing at least two bonus accounts with different brokers simultaneously is advisable.
Such an approach will allow you to open opposite positions on the same currency pair. Given the significant leverage, this can substantially increase one of the accounts. Then, you can trade with minimal compliance with capital management rules.
Where Are Forex Bonuses Prohibited?
Forex bonuses are not universally available and can be banned or restricted in certain jurisdictions. Particularly in countries of the European Union, the United Kingdom, the United States, and some Asian countries, financial market regulations may prohibit or limit the provision of such bonuses. The primary reason is to protect investors from imprudent risks and prevent brokers' unfair practices.
For instance, in late November 2016, CySEC (Cyprus Securities and Exchange Commission) stated in its circular:
CIFs (Cyprus Investment Firms) must avoid the practice of offering bonuses that are designed to encourage retail customers to trade complex speculative products such as CFDs, binary options, and Forex, as it is unlikely that the provision of such bonuses demonstrates that the company acts honestly, fairly, professionally, and in the best interests of its retail clients.
A week after CySEC's announcement, the regulator in the United Kingdom, the FCA (Financial Conduct Authority), banned brokers from using any form of trading bonuses or other incentives for opening accounts.
Frequently Asked Questions about Forex Bonuses
What are the minimum requirements for receiving a bonus?
Minimum requirements can vary significantly depending on the broker. However, in most cases, you must open an account and make a deposit, ranging from $10 to $100 or more. Some brokers offer no-deposit bonuses that do not require a deposit.
Is verification needed to receive a bonus?
In most cases, yes. Brokers want to ensure that you are a real user and not trying to abuse the bonus system. Typically, the provision of documents to confirm identity and residence is required.
In what currencies are bonus funds provided?
This depends on the broker, but bonus funds are often provided in U.S. dollars, euros, or British pounds.
How often can Forex bonuses be received?
The frequency of bonus provisions depends on the terms of the specific bonus program. Some brokers offer one-time welcome bonuses, while others have periodic promotions and special offers.
What size bonus can be considered normal?
The bonus size varies from broker to broker and can be from $5 to $5000. However, a large bonus does not always mean better conditions. It is essential to carefully read the terms to understand how feasible it is to meet the withdrawal requirements.
Can you make money from Forex bonuses?
Yes, it's possible. Bonus funds can often be used to trade on the global Forex market and, if successful, to earn money. However, remember the trading conditions that need to be met to withdraw these funds.
Can a no-deposit bonus be withdrawn immediately?
In most cases, no. No-deposit bonuses are often provided with conditions that must be met before you can withdraw either the bonus funds themselves or the profits earned with them.
Conclusion
Forex bonuses are a double-edged tool: on one hand, they provide additional opportunities for trading and allow traders to expand their capital; on the other hand, they entail several restrictions and conditions that can create some difficulties. It is crucial for beginner traders to thoroughly familiarize themselves with the broker's bonus policy to understand how these bonuses work and how they can be effectively used.
Before accepting a bonus, always pay attention to the fine print: playthrough conditions, restrictions on trading instruments, and other "traps" that may be embedded in the offer. And, of course, remember that no bonus can replace a good trading strategy and market knowledge. A bonus is just an additional tool in your arsenal.
We hope this article has helped you understand Forex bonuses, advantages, and risks. Happy trading!
