Best Forex Bonuses for Traders
Free Forex Bonuses, No Deposit Bonus & Rebates
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. Here you will get the scoop on updated bonuses and promotions being offered by our most recommended brokers. We also explain to you how each type of Forex bonus works, and what each broker offers, so that you can make an informed decision.
Here is a list of bonus campaigns from seven well-established brokers:
Back to top ⬆
Back to top ⬆
XM
Join Over 10 Million XM Traders
Reach your trading goals with: Spreads from 0.6 pips, leverage up to 1000:1*. Trades executed in <1 second. No hidden fees, rejections, or re-quotes. Amazing offers and promotions with big prizes*. XM Copy Trading*: Copy successful strategies or share yours. Award-winning support in 30 languages. Free Live Education: 60+ expert-led shows. *Offers, promotions, and products available depend on your trading entity’s regulations. Maximum leverage for EU
Claim Your BonusRead more on XM review
Back to top ⬆
Exness
Trade with better-than-market conditions
"Discover Exness' industry-leading liquidity and execution quality. Experience tight and stable spreads starting at 0 pips, as you trade popular instruments with no overnight fees on our swap-free accounts. Deposit or withdraw anytime without fees using our automated withdrawal processing. Protect your trades from unexpected market swings with our Stop Out Protection, Negative Balance Protection, and flexible leverage options. Exness Group entities are licensed by reputable financial regulators, including FSA (Seychelles), FSC (BVI), CBCS (Curacao), FSCA (South Africa), CMA (Kenya), CySEC (Cyprus), and FCA (UK), . Product features may differ. Exness Cyprus and Exness UK offer B2B services only. Need help? Contact our support team 24/7 via live chat, email, or phone. Terms and conditions apply."
Claim Your BonusRead more on Exness review
Back to top ⬆
Octa
50% Deposit Bonus
Octa is offering all new traders a 50% deposit bonusand $8when you open a new account with Octa and make yourfirst deposit with them. Your Octa trader account allows you to increase your trading power by up to 1.5 times and you can even withdraw your bonus as profit, once you’ve reached the necessary trading volume. Best of all, Octa allows you to claim the bonus on all of your deposits, without any limits. Another benefit of opening an account includes earning more with your bonus, as bonus funds add up to your free margin, so you can open more orders at greater volume, making higher profits Octa traders may also be able to join the Champion MT4 Demo Contestand receive cash prizes from $40 to $500? Octa also offers gifts and gadgets for trading, including a smartwatch, smartphone and laptop.
Claim Your BonusRead more on Octa review
Back to top ⬆
How do Forex No Deposit Bonuses Work?
With demand for Forex trading experiencing a renewed surge, making the most liquid financial market even more popular, the competition among Forex brokers is equally heating up. A Forex bonus represents one key offering that can often sway a new trader to pick one broker over another one, especially if the core trading environment, from trading platforms, asset selection, and cost structure, is similar. Emerging and frontier markets represent the bulk of new entrants to the world of trading but developed markets account for the most substantial deposits. While some regulatory jurisdiction passed legislation banning bonuses and limiting leverage, most notably the European Securities and Markets Authority (ESMA), Forex brokers under its jurisdiction operate under a distinct disadvantage. Cyprus falls under this category, making all Cyprus Securities and Exchange Commission (CySEC)-only regulated entities a less desirable option for the high-growth countries globally.
Many CySEC brokers open subsidiaries in business-friendly jurisdiction and off-shore locations, which generally is a very cost-efficient method to expand the operational reach and offer an attractive trading environment for all international traders. One of the most sought-after promotion remains the Forex no deposit bonus. It is available to all new traders for opening an account, and as the name suggests, traders are not required to make an initial deposit. Forex brokers use them to attract new traders to their trading environment and allow them to experience it in a live setting. The amount is usually small and enough to open one position. Some brokers run promotions with more substantial bonuses of up to $100, especially during festive seasons or essential corporate milestones.
While a Forex bonus without deposit may sound appealing at first, interested traders must consider the terms and conditions associated with it. Since Forex brokers operate a business, each incentive must primarily benefit them. The rules can differ from broker to broker, but generally, traders cannot withdraw profits earned from the bonus until they make a deposit first. The minimum amount of the deposit is often equal to the no deposit bonus, so if you received $20, you must deposit at least $20 before you can withdraw any profits. The bonus amount is not available for withdrawals unless specified otherwise by the broker. In case of a withdrawal bonus amount, traders must meet trading volume requirements, which tend to be excessive. One example would be to trade 1.0 standard lot per bonus dollar received, resulting in 20.0 lots in our $20 scenario noted above.
Since most retail traders lose money, most brokers will never have to pay out anything while creating a lucrative revenue stream. Many brokers get paid by their liquidity providers for generating trades, and through the no deposit bonus, they attract an army of eager traders chasing returns. It allows brokers to earn a significant amount of cash flow, risk-free to them. The idea behind any Forex free bonus is to attract deposits from new traders. The strategy usually pays off, and while most will never benefit directly from the incentive, it is possible to incorporate them successfully. They often serve as a platform for emerging and frontier traders to get interested in Forex trading and slowly grow their knowledge and portfolios.
Is A Forex No Deposit Bonus A Welcome Bonus?
Many traders may view a no deposit bonus as a welcome bonus since Forex brokers deploy it exclusively to new traders without an existing account, but this is incorrect when looking at the details. There are distinct differences between the two, which is also evident in marketing campaigns for both types of incentives. The former requires no deposit, and Forex brokers award it upon successful completion of the mandatory verification process of new accounts. The latter generally applies with a generous percentage-based offer on the initial deposit. While most bonus money from a no deposit campaign is not withdrawable, the opposite applies for a welcome bonus. Therefore, the terms and conditions may also differ, and most Forex brokers use various bonus campaigns to attract a different type of trader.
Those traders seeking a no deposit bonus usually have little capital to trade, are new to the Forex market and will deposit a small amount equal to the granted bonus to make a withdrawal if they generate profits. The retention rate of those traders is low, as many lose the no deposit money and will not make a deposit. Forex brokers have only a one-time limited opportunity to earn income via commissions from their liquidity providers. Since accounts require verification, brokers have all the necessary contact information to target new traders with follow-on incentives to make a deposit and continue trading. In many cases, the next step would be a welcome bonus tied to an initial deposit. Attracting new traders with generous incentives is pointless for brokers if they cannot retain them.
Marketing campaigns for a welcome bonus, despite applying to all new account openings, target traders capable and willing to make higher initial deposits. They are also often used to entice new clients to decide on a more substantial deposit than they initially planned. From a statistical perspective, the majority of traders make the same mistakes. One of the most significant errors is the failure to build a portfolio via multiple deposits over time. Forex brokers are aware that the initial deposit could be the only one a new client will commit. A welcome bonus helps brokers capitalize on this retail trader flaw, as it usually applies only to the first deposit. With the right marketing approach for this incentive, many new traders decide to boost their initial deposit to receive a more lucrative Forex sign-up bonus. Again, it remains essential to read and understand the terms and conditions.
Another way to view a no deposit bonus and a welcome bonus is that the former will attract new traders to test the trading environment of the broker. It is followed by the latter to ensure the trader will commit the maximum initial deposit amount. The higher the account balance of a portfolio, the more assets traders can hold, which can increase the profit potential and reduce risk. The marketing strategies for a no deposit bonus Forex campaign will often differ, but some brokers blur the lines between the two. One example would be a Welcome Bonus Forex $50 promotion, or an alternative amount, which would be a no deposit bonus rather than a traditional welcome bonus.
What Can You Do with A Free No Deposit Bonus?
Many may consider a small free no deposit bonus irrelevant, but there are numerous beneficial uses for it. It is not only suitable for new traders but can also be used by seasoned ones for various reasons. Let us take a look at how those new to trading can benefit from a no deposit bonus Forex promotion. One of the best uses is to learn how to trade. Those with a misguided preference for demo trading do so in a simulated environment, which is not ideal for educational purposes. A Forex no deposit bonus applies to a live and verified trading account, which means that new traders can learn how to trade without making a deposit. It is essential to understand that in most cases, traders will lose bonus money in the process, but the lessons learned are priceless.
New traders with a genuine intention to learn how to trade will follow through with a deposit to continue their educational path. Another excellent use of a Forex bonus is to test the trading environment for execution speed, requotes, and slippage. It is impossible to do this in a demo account, which is mostly useless for the majority of advertised purposes, and more brokers replace it with a Forex bonus without deposit. While the primary use of any incentive is to attract new traders, and the majority are first-time clients, established ones can also benefit from a Forex free bonus.
Advanced traders may use any Forex sign-up bonus to test new trading strategies in a live trading account. Given the limited amount of any such offer, for example, a Welcome Bonus Forex $50 offer, the transaction size should only be 0.01 lots. It is sufficient to test any strategy and also ideal for those seeking to adjust an existing one. Developing new ones is another task best accomplished risk-free through a no deposit bonus. Since this bonus generally applies to new traders at a broker, existing traders have to seek out a secondary broker to take advantage of any offer for testing purposes. Diversification of a portfolio across multiple brokers will reduce the overall risk profile, so this will be an excellent option to get to know different brokers.
Traders who prefer to trade a portfolio with an electronic advisor (EA) in an MT4 or MT5 trading account will be able to test them with a no deposit bonus. Since there are over 20,000 available, many completely free of charge, it will be challenging to find one that delivers promised results. Most free ones fail to generate profits consistently. Instead of risking capital, taking advantage of any no deposit bonus will allow traders to test any EA for several months in live trading conditions before deciding to commit a more significant deposit to one. Irrelevant to the use of any incentive, traders must understand that Forex brokers will never make an offer that does not benefit the company first. To successfully use a no deposit Forex bonus offer, make sure to understand the terms and conditions, and do not chase requirements to withdraw money. Be smart, use it for educational, evaluation, or testing purposes, and ignore the rest. Should you become profitable through any of the mentioned loss-making approaches, consider it as a definite bonus that you earned by doing the right thing.
Which broker has a no deposit bonus?
Many brokers are offering a no deposit bonus, but some of the more trusted ones include XM.
What is a Forex no deposit bonus?
A Forex no deposit bonus is a type of incentive awarded to traders without the requirement to make an initial deposit.
How can I trade Forex without a deposit?
A growing number of Forex brokers offer trades small real cash no deposit bonuses to get started.
Where can I find the best Forex no deposit bonuses?
Several online databases and lists are featuring current no deposit bonus offers. Feel free to take a look at the ones we outlined here.
How do I claim a Forex no deposit bonus?
You must open and verify your new account with your broker. Once verification is complete, it will either apply automatically or after you request/claim it.