Forex Brokers with bonuses

5 best Forex brokers with free bonuses: Platform comparison

Table of Contents

See the list of the 5 best Forex Brokers with bonus program:

Broker:
Review:
Types of bonuses:
Regulation:
Assets:
Advantages:
Open account:
1. RoboForex
RoboForex logo
+ Welcome Bonus
+ Deposit bonus
+ Rebate / cashback bonus
IFSC
9,000+
(40+ currency pairs)
+ Many awards
+ Huge diversity
+ Many account types
+ 1:2000 Leverage
+ Bonus program
+ Low spreads
+ Low commissions
+ 9,000+ assets
Live account from $10(Risk warning: Your capital can be at risk)
2. Vantage Markets

+ Welcome Bonus
+ Deposit bonus
+ Rebate bonus
CIMA, ASIC
300+
(40+ currency pairs)
+ Fast execution
+ MT4 & MT5
+ Low trading fees
+ No hidden costs
+ Free bonus
+ Multi-regulated
Live account from $200(Risk warning: Your capital can be at risk)
3. FBS
+ Welcome Bonus
+ Deposit bonus
+ Cashback bonus
+ Level-Up bonus
IFSC, CySEC
500+
(40+ currency pairs)
+ MT4 & MT5
+ 24/7 support
+ Bonus program
+ Low spreads
+ Low commissions
+ Leverage up to 1:3000
+ International trading
Live account from $1(Risk warning: Your capital can be at risk)
4. InstaForex
+ Welcome Bonus
+ Deposit bonus
+ InstaForex club bonus
BVI FSC
200+
(50+ currency pairs)
+ Multilingual support
+ User-friendly broker
+ Bonus programs
+ Leverage up to 1:1000
Live account from $1(Risk warning: Your capital can be at risk)
5. XM Forex
XM logo
+ Welcome Bonus
+ Deposit bonus
IFSC, CySEC, ASIC
1,000+
(55+ currency pairs)
+ Cheap trading fees
+ No hidden costs
+ Regulated and safe
+ International trading
+ 1000+ assets
Live account from $5(Risk warning: 75.59% of retail CFD accounts lose)

Forex brokers use forex bonuses to attract new traders and increase their profit by offering incentives. The forex bonus gets given out when forex traders can satisfy certain conditions the broker has dictated. It is not to imply that forex bonuses are a bad thing, they are beneficial to both the trader and the forex broker if they are in the interest of the trader. Various bonuses get offered after registration and through the trading process. 

Forex traders with well-regulated and reliable brokers can take advantage of the bonuses offered to increase their profits

Professional chart analysis in forex trading

What is a Forex bonus?

A forex bonus is an offer of a cash reward on opening an account in a forex broker. It could also or increasing trading volume to a certain threshold. It also encourages traders to become more active when trading. 

Types of Forex bonuses 


1. Welcome bonus 

A welcome bonus is a cash reward that forex brokers give to new forex traders when they open an account on their platform. They are two types of welcome bonuses, the no deposit welcome bonus and the deposits bonus. 

The no deposit bonus requires a new trader to register for a trading account with a broker and verify it to receive the bonus. 

The deposit bonus needs a new trader to register a trading account, verify the account and deposit some funds to get the bonus. The deposit bonus comes in two ways, it can be in cash deposits or a percentage of the total deposit the forex trader deposits. 

2. VIP bonus 

This bonus is given to forex traders who open a VIP account. At times, the forex broker offers this bonus when the forex trader has been a loyal client of the VIP account for some time, so they are allowed to apply. 

While some forex traders are eligible for this bonus when they open a VIP account on a forex broker. The VIP bonus is a substantial amount forex traders should consider opening VIP accounts. 

Bonus in forex trading

3. Rebate bonus / cash back bonus

A forex rebate is a certain percentage of the total amount of the trade placed through a forex broker. If your forex broker offers a 50% rebate on the trade, which means if you trade let us say $1000 you will get a rebate of $500

Your forex account will still have $500 as 50% of the total trade size regardless of whether you lost or made a profit. It is an offer that encourages traders to continue trading. 

4. Deposit/reload bonus 

It is the percentage of the total deposit or a fixed amount that forex traders receive when they deposit to their forex broker. The deposit bonus or the reload bonus is usually lesser than the deposit that a forex trader has made. 

Still, it is a good bonus since it helps traders to continue trading and making more deposits. Forex brokers offer deposit bonuses more than once, especially for forex traders who actively trade. 

5. Volume bonus

It is a bonus you get when you achieve a certain target set by your forex broker. It is a good offer for forex traders who like trading high volumes as they can meet the conditions more often than low volume traders. 

The volume bonus at times has conditions traders have to meet to receive it. It could be a certain amount of traders within a specific time like 24 hours or a week. Either way, active volume traders, can apply for this type of bonus, if their forex broker happens to be offering it

Bonus in forex trading

How to apply for a forex bonus 

You can apply for any forex bonus as long as you are eligible to get it. Different forex bonuses have various ways to apply.

  1. Check the terms and conditions you need to follow to get the forex bonus. It assists to know what they need you to do to be eligible. Reading the terms and conditions will help you decide whether you agree with them or not. 
  2. If you agree with it, start the application process. It means you have to fill in your details like your name and the type of account you are using. 
  3. Submit the application where the forex broker will verify whether you qualify for the bonus. 

You should note that different applications have different methods, and the process you would use to apply for a welcome bonus is not the same process for a rebate bonus. Some do not require an application process like a no-deposit welcome bonus in other forex brokers. 

List of the 5 best Forex brokers with bonuses in comparison:


1. RoboForex 

The official website of the forex broker RoboForex

It is a forex broker founded in 2009 and has continued providing services to more than three million users worldwide. It is regulated by the ;

  • Cyprus Securities and Exchange Commission in Cyprus
  • The International Financial Service Commission in Belize 

Roboforex accesses financial markets like Stocks, ETFs, Energies, commodities, Metals, and Forex.

Pros and cons of Roboforex:


Pros

  • It has a low minimum deposit of $10.
  • It uses the STP and ECN software that helps traders access the market directly.
  • No deposit and withdrawal costs.
  • It has fast deposits and withdrawals. 
  • It has a reliable trading record.

Cons

  • It is not available in most countries.
  • Limited trading instruments.

(Risk Warning: Your capital can be at risk)


Features of Roboforex 

Roboforex has 5 types of trading accounts; Prime, ECN, R Trader, Pro-Cent, and the Pro-Standard account. These accounts offer different trading experiences through spreads, commissions, and other services. 

It has a demo account that traders can use before moving to the live trading account. It has an educational analytics center that has educational content such as videos and tutorials. They also have a variety of trading platforms traders can choose from. 

They are the Meta Trader 4 and 5, c Trader, and its proprietary platform R Stocks trader. They are all compatible with the forex accounts, there is also an additional CopyFX which is a copy trading platform. 

It offers brokerage services through web-based, mobile, and desktop platforms. These versions have a fast execution rate, numerous trading tools, and charting software. 

Their customer care team is present 24/7 and can support over 14 commonly spoken languages. You can get in touch with them via phone calls, emails, and live chats, they respond within 24 hours. 

Advantages of RoboForex
Advantages of RoboForex

Fees 

 Roboforex spreads start from 1.3 pips per standard lot. It is a variable spread and changes according to the market and the type of account you are using. You can open positions starting from 0.01 lots to 100 lots. 

It has no deposit and withdrawal fees but has a $10 inactivity fee for a trading account that has been dormant for over a year. 

Bonuses offered on Roboforex:


1. Welcome bonus 

Roboforex has a welcome bonus of $30 that works as a deposit bonus. New forex traders have to do the following to get the welcome bonus;

  • Open a forex trading account on Roboforex, trading accounts can be either the Cent or the Standard trading account.
  • Verify the accounts by completing the verification procedure. 
  • Deposit the funds through the bank account.

2. A deposit bonus 

Roboforex has a deposit bonus where the forex traders have to fill in a deposit form to access it. They can choose between 25%, 50%, 100%and 200%. It is available in the Cent and the Standard account that works through the Meta Trader 4 or 5

The number of times you can get the deposit bonus is unlimited, but there is a limit on the amount you can receive according to the instrument you are trading. 

3. Rebate/cashback bonus 

Roboforex also has a rebate bonus of 20% charged per round turn lot for all the other account types and 8% for the prime account. It also has the VIP client program that offers more rebate bonuses when you become active. This program needs traders to have $3000 on their accounts or more to apply. 

(Risk Warning: Your capital can be at risk)


2. Vantage Markets

The official website of the forex broker Vantage Markets
Vantage Markets website

It is an Australian-based forex broker launched in 2009 and has over half a million forex traders worldwide. It offers access to more than 300 trading instruments ranging from Metals, Indices, Shares, Commodities, Cryptocurrencies, CFDs, and forex

It is regulated by:

  • Australian Securities Investment Commission
  • Financial Conduct Authority 
  • Cayman Islands Monetary Authority  

Pros and Cons of Vantage Markets:


Pros

  • It is regulated by top tier 1 regulatory bodies making it safe for investors.
  • It has some of the leading trading software in the forex industry.
  • Users can access a variety of financial markets.
  • It has fast execution rates due to STP and ECN.
  • It has a range of forex trading features. 

Cons 

  • It has a high initial deposit for its ECN accounts.
  • Wide spreads on the standard account.  

(Risk warning: Your capital can be at risk)


Features of Vantage Markets

Vantage FX has three types of trading accounts, Standard STP, Raw ECN, and the Pro ECN account. The standard STP is for new traders, and it has no commission, Pro ECN is for traders looking for tight forex spreads while the Pro ECN is for professional forex traders. 

Vantage FX is one of the few forex brokers that integrated the MT4 and MT5 trading platforms. These platforms have a wide array of trading tools traders can use, including multiple charts, indicators, reliable trading signals, and MQL4 automated trading.

It has a free demo account for new and experienced traders to practice strategies. Forex traders can also benefit from the copy trading accounts from expert traders through Zulu Trade, MyFXbook auto trade, and Duplitrade. 

Vantage Markets works with trading central and its forex experts to provide research materials for its users. Its educational and research materials consist of a wide range of Trading Central training videos. It has a mobile application, desktop, and web version.

Their customer support team is available 24/5 and can get contacted via phone, live chat, and email. 

Vantage Markets logo

Fees and commission 

Their spreads range from 0 to 1.4 pips for most trading instruments and vary according to the market prices and the account type. The standard account has no commission, while the raw ECN has a $3 per traded lot, and the Pro ECN charges $2 per lot. 

Users can access leverage of up to 1:500 and open position sizes starting from 0.01 lots. Vantage does not have an inactivity fee, deposit, or withdrawal fee. There is only one free withdrawal in a month for bank transfers, after which withdrawals get charged $20. 

It accepts bank transfers, credit/debit cards, and electronic wallets such as Skrill, Neteller, Bitwallet, Union Pay.

Bonuses offered on Vantage Markets:


1. Welcome bonus 

Vantage FX has a deposit bonus of 50% for new forex brokers who register an account on their platform. The welcome bonus is a deposit welcome bonus so traders need to register, verify, and deposit on their accounts to qualify for the welcome bonus.

2. Deposit bonus 

It has an additional 10% credit bonus for deposits made of over $1000. It also comes with a 10% deposit bonus for any future deposit made. It got restricted in some regions, and traders need to check if they are eligible for this offer. 

3. Rebate bonus 

 Vantage FX has a rebate bonus for the standard STP and ECN accounts. They have a $0.6 rebate bonus for the STP account per round turn lot and $1.5 per round turn lot.

(Risk warning: Your capital can be at risk)


3. FBS 

The official website of the forex broker FBS
Official website of FBS

It is a forex broker launched in 2009 and has served forex traders from over 150 countries. FBS users can access trading instruments such as Forex, Energies, Commodities, Bonds, Metals, Indices and CFD indices.  

It is regulated by the:

  • Cyprus Securities Exchange Commission in Cyprus
  • Australian Securities Investment Commission in Australia
  • International Financial Services Commission in Belize
  • Financial Sector Conduct Authority in South Africa

Pros and cons of FBS:


Pros

  • It has credibility among many forex traders around the world. 
  • Industry-leading trading platform and one of the leading mobile trading platforms.
  • It accepts many payment methods.
  • It has responsive and available customer support.
  • It offers high leverage of up to 1:3000.

Cons 

  • Limited trading instruments.
  • The customer support team is available 24/5.

(Risk Warning: Your capital can be at risk)


Features of FBS

FBS has six types of accounts; Cent, Micro, Standard, Zero Spread, ECN, and the Crypto account. Each forex trading account is customized with features to suit various traders, from new and economic traders to professional traders. 

The FBS demo account is equipped with similar features to the live forex trading account except, it uses virtual money. It works with the MT4 and MT5 with advanced trading tools like the VPS, numerous charting software and indicators, and copy trading.

The research and educational materials start with fundamental trading knowledge to advanced trading strategies. It has books, webinars, and video trading courses available on the platform. 

FBS has a fully functional mobile application that comes with copy trading capabilities. It also has a desktop and web-based version integrated with the MT4 and MT5 trading platforms. The customer support team is present 24/7 through live chat, emails, phone calls, and social media. 

Fees 

FBS offers variable and fixed spreads that start from 0.0 -0.9 pips. They also vary according to the accounts. It has an initial deposit starting from $1 in the Cent account and $100 for the standard forex account. 

It has no inactivity fee, no deposit, and withdrawal fees. FBS accepts different payment methods like credit cards and e-wallets such as Stic pay, Skrill, Neteller, and perfect money. 

FBS logo

Bonuses offered on FBS:


1. Welcome bonus 

FBS has a no deposit bonus of $50 for beginner traders who open accounts on its platform. It only requires you to register and verify your details to be eligible for the deposit bonus. 

2. Deposit bonus

 It has a 100% cashback bonus for its users’ deposits. Forex traders have to apply for this deposit bonus from their account, if they are eligible it is credited to their accounts. 

3. Cashback bonus 

IT offers a 20% of spread cashback when you trade any instruments on the FBS trading platform. 

4. Level Up bonus 

It is a bonus of $140 when FBS users fill the Level Up bonus sheet, where they are required to confirm their emails. They will get the Level Up bonus credited in the personal area and another $70 on the Personal Area app. 

(Risk Warning: Your capital can be at risk)


4. InstaForex 

The official website of the forex broker InstaForex

It is a forex broker serving 7 million forex traders worldwide since its launch in 2007. It is an ECN broker with access to over 200 assets that range from Forex, derivatives, CFDs, cryptocurrencies, commodities, stocks, and many other assets. 

It is regulated by the BVI FSC. It has one difference from other forex brokers, its 1 standard lot is equal to 10,000 currency units rather than 100,000. 

Pros and cons of Instaforex:


Pros 

  • It has many forex trading tools.
  • The trading platform is user-friendly for all types of forex traders.
  • It has a rich library of educational materials.
  • Low trading costs.
  • It has a minimum deposit.

Cons

  • It is not available in other countries.

(Risk Warning: Your capital can be at risk)


Instaforex features 

It has a free demo account that forex traders can start with before venturing to the live trading account. Forex traders can choose to open any 5 accounts available on InstaForex. They are the Standard, ECN, ECN pro, Eurika, and the Scalping account. 

It only uses the meta trader 4 trading platforms to access the market. It has all the trading resources like charts, signals, and indicators. In addition to that forex traders have access to the VPS server and the copy trading account. 

Instaforex has the Meta Trader 4 working on its mobile application, desktop, and web-based platform. Forex traders can enjoy trading using their phones or laptops. 

New traders can benefit from the educational resources offered, which can help them catch up with more knowledge about different financial markets. Forex traders participate in making profits and rewards as bonuses. 

Customer support is present 24/7 through emails, phones, and lives chats. 

InstaForex logo

Fees 

Instaforex has an average spread of 0.2-1.2 pips for most instruments. Forex trading commissions vary according to the type of account, but the Eureka account has a commission of 0.02 %. 

It has leverage that starts from 1:30, according to regulatory guidelines in the EU. 

The minimum deposit you can make is $1 and has no withdrawal or deposit fees. Forex traders can fund their accounts through Visa or MasterCard, Skrill, Neteller, Payco, and Bitcoin. 

Bonuses offered on InstaForex:


1. Welcome bonus 

 It has a welcome bonus of 30% of the total deposit made. New forex traders have to register their accounts and deposit some funds, where 30% returns as the bonus for opening a trading account. 

2. Deposit bonus

It has several deposit bonuses for users ranging from a 100% bonus for the first deposit made on the account. There is also the 55% bonus or the 30% bonus and leverage of 1:200 and 1:1000 consecutively. 

3. InstaForex club bonus  

It is a club for traders on InstaForex where traders apply to join. They need to increase their deposits to access up to a 40% bonus on any amount they deposit. 

(Risk Warning: Your capital can be at risk)


5. XM 

The official website of the forex broker XM
XM trading official website

It got founded in 2009, and since then, it has served many traders for over 14 years. Its users can access trading instruments such as Stocks, Indices, CFDs, forex, Gold, and other numerous instruments.

It is regulated by:

  • Cyprus Securities and Exchange commission
  • Australian Securities and Investment Commission 
  • International Financial Services Commission in Belize

Pros and cons of XM:


Pros 

  • It has fast account registration.
  • Comprehensive research and educational materials like articles and video courses. 
  • It has some of the top trading features and tools in the industry.
  • It has a low initial deposit and low trading costs.
  • It has many bonus offers and promotions for its users. 

Cons 

  • Wide spreads on the standard account.

(Risk warning: 75.59% of retail CFD accounts lose)


Features of XM Forex broker 

It has a demo account with 100,000 virtual currency that forex traders can start with to understand how XM works. Forex traders can open one of the four account types at XM. The Micro, Standard, XM Shares, XM Ultra-low account. The trading accounts are different in how they charge their trading costs. 

XM broker uses the MT4 and MT5 trading platforms to access the financial markets. They allow traders to use its premium trading tools, more than 1000 instruments, low spreads, and trade sizes as low as 0.01 micro-lots. 

XM has created a vast library of educational resources that can benefit new traders who want to learn trading strategies and financial management. Besides the demo account, it has tutorial videos and webinars. 

Although XM does not provide fundamental data, it has numerous technical tools, trading signals, and a comprehensive economic calendar. Forex traders can find these features in its mobile, desktop, and web platform designed to give traders a good trading experience.

XM has fast customer support that is available in more than 23 languages. They work 24/5, and you can get them through live chat, phone calls, and emails. 

Fees 

XM has average forex spreads, starting from 0.6 – 2.0 pips per standard lot. The forex spreads differ with the trading instruments and the accounts, as the XM Ultra-low has the lowest spreads and charges a commission, while others are commission-free. 

XM has no deposit and withdrawal fees and accepts bank transfers, credit /debit cards, and electronic wallets. 

XM logo

Bonuses offered on XM:


1. Welcome bonus

XM has a no-deposit welcome bonus of $30 for all traders who open a new account on its platform. They have to finish the registration and verification process to get the $30 welcome bonus credited to them. 

2. Deposit bonus 

XM also has a deposit bonus offered to clients of 50% for a limit of $500 and 20% for a limit of $5000. Forex traders have to apply for the deposit bonus, except for traders who use the XM Ultra-low account. 

(Risk warning: 75.59% of retail CFD accounts lose)


Conclusion – It is useful to compare different bonus programs with each other

Forex trading bonus is one-way forex brokers encourage traders to make more trades. They greatly help forex traders because they help boost their morale for trading. Some forex brokers can use the bonuses to lure traders, most of the time which encourages traders. 

Yet, before you decide to apply for a forex bonus, ensure you read and understand the conditions required for forex traders. 

Professional forex trading via tablet

FAQ – The most asked questions about Forex Brokers with bonuses:

Why is it that some Forex brokers have no bonus offers?

Some countries like the US or EU have strict regulations against bonuses and promotional offers. They prohibit forex brokers from promotions as they could be exploitative to the users. 

Are Forex bonuses beneficial?

They are profitable if you understand their terms and conditions. You also need to know how to manage them if you apply for one. 

Why am I unable to withdraw my bonus?

Forex brokers often offer bonuses as credit, which you can trade to profit. The profit you make from the bonus offer is what you can withdraw. 

How can I find the best forex bonus? 

The perfect way to know about the best forex bonus is to google it. Also, do some research on the brokers that are available. Dig into the brokers who offer the best bonuses according to the traders. Plus, keep in mind that you are eligible for their bonuses. Go through their eligibility and make sure it is what you need.

Additionally, check for any broker-hidden terms and conditions. When satisfied with all the broker details, move on and sign up.

Why is Trading Forex difficult?

There is a reason behind their failures. Most of the time, traders are undercapitalized concerning the size of their trades. With just a modest volume of capital, traders want to dominate and profit vast sums of money. Their greed and this kind of prospect make it a failure. Further, those traders let their doors open for fragile financial risk. 

What are the eligibility criteria for the Forex Bonus?

Well, each Forex bonus has distinct eligibility terms and conditions. It differs from every other Forex broker website. Accessing a Forex bonus requires having a verified account. If you claim a no-deposit account, you must deposit to declare the Forex bonus.