10 Best Forex Brokers With Bonuses (Up To 150%+)

A forex bonus is an incentive offered by brokers to attract and retain users (traders). It’s an added benefit (either in the form of extra trading funds or rebates) on top of your own deposited trading capital. These bonuses help reduce your trading costs, increase your access to capital, and reward your loyalty to the broker. Common types include deposit bonuses, welcome bonuses, cashback programs, free VPS or trading platform access, and referral bonuses.

In this review, we took a hands-on approach by testing, comparing, and analysing numerous top forex brokers to see which ones actually deliver the best bonus offerings. The result we present here is a carefully curated list of the top 10 forex brokers we believe to have the most rewarding, trader-friendly bonus programs as of this writing.

Find the best FX Platforms with different free bonuses in the comparison table below:

Here is the breakdown and a detailed look at each of the top 10 brokers with their respective bonuses. We assessed bonus size and value, terms, eligibility, bonus duration, and any added perks, such as access to trading tools, to identify which ones offer the best forex bonuses. 

1. Vantage Markets

First and foremost, based on our comprehensive analysis and comparison, Vantage Markets takes first place when it comes to forex bonuses. Overall, we like that the broker runs frequent, reliable promos with clear, dated terms and a quick opt-in process through the app. In addition, Vantage Markets also has a solid reputation when it comes to its bonus offerings, especially when compared with other forex brokers.

Vantage Market is regulated in Australia, Vanuatu, Cayman Islands, Mauritius, the UK, and South Africa. The broker lets you start trading with a $50 minimum deposit. Its mobile app (Vantage: All-In-One Trading App) is available on both the Google Play Store and the Apple App Store. 

Vantage Markets Ongoing Bonus Details

Bonus Type	Offer	Conditions
1. Deposit Bonus	150% on first deposit, plus 25% on subsequent deposits, up to stated caps	Opt-in via Client Portal or app, complete facial verification, eligible account types include STP, ECN, Cent, Perpetual, and Copy Trading. Get trading credits (not cash), and subject to removal. Only in eligible countries.
2. Referral Bonus	Up to USD 100 per successful referral	Referrer and referee must meet account and residency rules. Country eligibility applies.
3. Rebate Bonus	Redeem a 0.5% Transaction Rebate	Deposit USD via eligible payment methods and complete 10 trades to receive the rebate. Country eligibility applies.
4. Switch Bonus	Switch to Vantage and receive up to $700 in cash bonuses	Needs to opt in after signing up for a live account, then deposit within 30 days of account opening to qualify.
5. Loyalty Reward “Vantage Rewards” Bonus	Earn V-Points per notional volume; redeem for cash, vouchers, loss-protection, etc.	Benefits depend on the tier (Bronze, Silver, Gold, Platinum). Must have an active account to earn V-points with each trade, then complete missions to earn additional V-Points. Redeemable rewards: Wheel of fortune spin and lucky draw, cash redemption, vouchers for profit booster, deposit rebate, and loss protection.
6. Free VPS	Get access to Vantage’s VPS	Must meet the deposit requirement of at least $1,000, then select the VPS you prefer, trade the minimum monthly notional value on closed trades to be eligible, then submit your invoice via the client portal.
7. Free Trading Platform Access	Free TradingView monthly access	Open a live account and opt in for the refund program. Then fund your live account with at least $500 and trade the minimum notional volume ($1 million) to be eligible.

Important Limitation: Vantage’s forex bonuses are restricted for traders in the EU and UK. Also, it does not offer its services to residents of the US, Canada, Singapore, China, and countries on the FATF/EU/UN sanctions lists.

2. StarTrader 

From our evaluation, StarTrader lands second for its flexible deposit credits that are easy to opt into and are auto-credited once you fund. The broker frequently runs 100% first-deposit plus 20% subsequent offers, with occasional cashback promos with clear lot rules. Overall, it’s a consistent, simple bonus offering that stacks well for active traders.

StarTrader is regulated in the UK, Australia, South Africa, UAE, Seychelles, and Mauritius. Its minimum deposit is $50 and its mobile app (StarTrader: Online Trading App) is available on both the Google Play and the Apple App Store.

StarTrader Ongoing Bonus Details

Bonus Type	Offer	Conditions
1. Deposit Bonus	50% on first deposit (up to $500 credit) plus 20% on subsequent deposits.	Requires you to opt-in; applies to qualifying accounts; first vs. subsequent deposit rules defined on page. The accounts designated as Cent accounts, Cryptocurrency accounts, PAMM, and MAM are excluded. Country eligibility applies.
2. Switching Bonus	1% “Switch Allowance” up to $200 cashback when you transfer funds from another broker	Provide proof of withdrawal/deposit from previous broker (certain e-wallet/card channels excluded). Each client could only claim once. Accounts designated as Cent accounts, Cryptocurrency accounts, PAMM, and MAM are excluded from participating. Country eligibility applies.
3. VPS Refund	Monthly VPS cost reimbursement with caps once deposit/lot thresholds are met.	Reimbursement tiers depend on initial funds and monthly trading volume of at least $0.5 million.

Important Limitation: StarTrader’s forex bonuses are restricted for traders in the EU, UK, and Australia. Also, it does not offer services to residents of the United States and jurisdictions on the FATF or other global sanctions lists.

3. VT Markets

VT Markets is also one of our favorites due to its straightforward and well-documented deposit bonus structure, with automatic opt-in after you open your account, as well as an easy switch in your client portal. In addition, you usually get 100% on your first deposit (up to a set cap), then 20% on subsequent deposits, with the rules and guidelines spelled out clearly on the promo pages, making it reliable, transparent, and quick to claim.

VT Markets is regulated in Mauritius, South Africa, UAE, and Australia. The broker’s minimum deposit is $50 and it has its own mobile app , which you can download on both Google Play (VT Markets – Trading App) and the Apple App Store (VT Markets-Online Trading). 

VT Markets Ongoing Bonus Details

Bonus Type	Offer	Conditions
1. Welcome Bonus	50% on first deposit (up to $500) plus 20% on subsequent deposits, with a cap of $10,000.	A $500 minimum first deposit is required to receive the 50% portion. Country eligibility applies.
2. Deposit Bonus	20% on succeeding deposits, with a total credit cap of $10,000.	Automatic opt-in when eligible. Note that certain e-wallet/crypto deposits (including USDT, Neteller, Skrill) are excluded. Also, the credits are not withdrawable. Country eligibility applies.
3. “Active Trader” Bonus	Weekly reward equal to 0.25% of Eligible Funds ( up to 13% p.a.)	Needs to opt-in, then maintain at least $5,000 eligible Funds daily and trade at least 1 lot per $5,000 each week. Bonus is credited once every 4 weeks.
4. Referral Bonus	Up to $200 per referral when the referee deposits and trades ≥ 5 lots within 60 days.	Accounts must be funded and complete at least 5 lots in trades within 60 days. Then share your unique link. Bonus can be claimed after referee meets requirements (program page and Help Centre outline rules and timelines).
5. Loyalty Reward Bonus	VT Markets ClubBleu	New clients can join by opening a Live Account and making their first deposit. Existing clients can access ClubBleu through the Client Portal. See Loyalty page for tiers and FAQs.
6. VPS Refund	Get up to $50 in VPS refunds	Must meet the minimum deposit requirement of $1,000 and maintain a monthly trading volume of at least $0.5 million notional value.

Important Limitation: VT Markets’ forex bonuses are restricted for traders in the EU, UK, and Australia. Also, it does not offer services to residents of the United States, Singapore, Russia, or jurisdictions listed by FATF or under international sanctions.

4. PU Prime

Fourth, PU Prime earns its place for breadth: multiple deposit-bonus formats (including 100% and 50% structures), rebates per lot, refer-a-friend rewards, free VPS, and an app/portal toggle to activate promos before funding. The mix also includes a first-deposit cashback path and a “Funds Growth” daily cashback style promo when weekly trading goals are met. It’s a busy promo calendar with clear activation steps.

PU Prime is regulated in Cyprus, Mauritius, Australia, South Africa, and Seychelles. It requires a minimum deposit of $50, and its mobile app is available on both Google Play (PU Prime – Trading App) and the Apple App Store (PU Prime: Trade Forex & CFD). 

PU Prime Ongoing Bonus Details

Bonus Type	Offer	Conditions
1. Welcome Bonus	100% bonus for a deposit of at least $1000	Head to your Client Portal to activate the promotion under the “Promotions” tab and make your first deposit. 100% of your first deposit will be awarded as a credit bonus, up to a maximum of $1,000.
2. Deposit Bonus	20% bonus on additional deposits	Must be activated first on your client portal. Subsequent deposits are subject to a 20% bonus, up to a maximum of $9,000.
2. Referral Bonus	Earn US$150 per successful referral	Friend opens, funds, and starts trading. You can then track and claim via the Client Portal.
3. Rebate Bonus	Get up to 100% cash rebate	Must be activated in your portal. Must then make a minimum deposit $1,000; rebates credited daily in $0.15/0.1-lot increments
4. VPS Refund	Get up to $50 monthly VPS refund	Deposit at least $1,000 and meet monthly notional volume to claim $25 (if at least US$0.5M) or $50 (if at least US$1M). Only one refund per month is allowed.

Important Limitation: PU Prime’s forex bonuses are restricted for traders in the EU, UK, and Australia. Also, it does not offer services to residents of the United States, Singapore, China, the Philippines, and FATF-blacklisted/sanctioned regions.

5. RoboForex

Fifth, RoboForex stands out for depth and variety: a $30 no-deposit “Welcome Bonus,” Classic Bonus up to 120%, Profit Share up to 60%, balance interest up to 10% p.a., permanent rebates, free withdrawals on set days, and free VPS under stated conditions. If you want multiple ways to extract value beyond a one-off credit, this lineup is hard to beat.

RoboForex is registered and regulated in Belize. It has one of the lowest deposit requirements in this list, with only a $10 minimum deposit. Its mobile app is available on both the Google Play Store (MobileTrader: Online Trading) and the Apple App Store (MobileTrader FX Trading Online).

RoboForex Ongoing Bonus Details

Bonus Type	Offer	Conditions
1. Welcome Bonus	$30 initial funds for trading.	Must be new and recently verified, available on MT4/MT5 Pro/ProCent and Standard accounts. Then deposit at least $10 via eligible bank cards. Country eligibility applies.
2. Rebate Bonus	Monthly rebates based on volume; available from 10 lots/month; higher tiers pay more.	Available on all client types and any account types as long as they are verified. You then need to trade at least 10 lots a month.
3. Interest Bonus	Receive up to 10% extra funds on your account balance	Go to the Members Area and read and accept the conditions. You then need to meet the monthly trading volume requirements.
4. Free Withdrawals	Zero-fee withdrawals on three Tuesdays each month.	Valid on the 2nd, 3rd, and 4th Tuesday (server time); first withdrawal on each day only. Maximum of 3 withdrawals a month.
5. VPS Refund	Free VPS access	Apply via the Members Area. Must have at least $300 in your account and at least 3 lots/month.

Important Limitation: RoboForex’s forex bonuses are restricted for traders in the EU, UK, and Australia. Also, it does not offer services to residents of the United States, Canada, Japan, Australia, Russia, Belarus, Ukraine, and other restricted countries.

6. Trading.com

Sixth, Trading.com is unique in this list because the US entity offers a $100 no-deposit bonus to verified US clients, which is rare under NFA/CFTC oversight. The steps are straightforward, and they also run trading competitions for extra prizes. Simple, accessible, and compliant for US residents.

Trading.com is regulated in the US, UK, EU, and Australia and requires a minimum deposit of $50. It also has a mobile app that is available on both the Google Play Store and the Apple App Store. Compared with other forex brokers, Trading.com is widely regarded as one of the best brokers for US, UK, EU, and Australian residents.

Trading.com Ongoing Bonus Details

Bonus Type	Offer	Conditions
1. No Deposit Bonus	$100 promotional credit (profits withdrawable)	New, verified U.S. clients. Credit itself isn’t withdrawable; it vests $5 into cash per 1 lot traded. One-time credit; losses beyond cash are deducted from credit. Opt-in in portal/app.
2. Competition Bonus	Monthly Paper Trading Competition with cash prizes ($6,000 / $3,000 / $1,000)	You first need to validate your account (no deposit needed), join the monthly round, and trade on your practice balance. Winners ranked by ROI %.

Important Limitation: Trading.com’s forex bonuses are restricted for traders in the EU, UK, and Australia. Also, while its US entity serves US residents (CFTC-registered RFED, NFA member), its EU entity does not accept U.S. residents, and the AU entity limits offers to Australia.

7. Moneta Markets

Seventh, Moneta Markets makes the cut for targeted, region-specific promos that still add real value: a 20% deposit bonus for select countries, a 20% redeposit credit for larger top-ups, and a cashback track that converts activity into withdrawable cash. Terms are explicit about opt-in, settlement timing, and anti-abuse clauses, which keep expectations clear.

Moneta Markets is regulated in Seychelles and South Africa. Its minimum deposit is $50, and its mobile app (Moneta Markets AppTrader) is available for download on both the Google Play Store and the Apple App Store. 

Moneta Markets Ongoing Bonus Details

Bonus Type	Offer	Conditions
1. Deposit Bonus	20% deposit bonus for a minimum deposit of $1,000	Applies to redeposits only (initial deposits excluded). Needs to make a minimum redeposit of $1,000; see page for specific caps.
2. Cashback Bonus	50% bonus credit on each eligible deposit;	Deposit $500+ and must opt-in in the Client Portal. Cashback is withdrawable monthly. Only available for Direct STP and Prime ECN Accounts. PAMM, MAM, Ultra ECN, and “Cent” accounts are not eligible.
3. Free VFS	Get free VFS access	You must complete a single deposit of $500 or more to be eligible. Then you need to make at least 5 lots of trading volume must be accrued during a full calendar month to be eligible.

Important Limitation: Moneta Markets’ forex bonuses are restricted for traders in the EU, UK, and Australia. Also, it does not offer services to residents of Canada, Cyprus, France, Spain, Russia, Ukraine, Italy, and the United States.

8. XM

Eight, XM remains a staple because its long-running bonus framework is well defined (50% on the first tranche and 20% thereafter up to an overall cap) alongside a loyalty scheme where XMP points convert to credit. XM has also run no-deposit and welcome-bonus variants, with detailed PDFs that spell out the mechanics. It’s structured, familiar, and easy to understand. 

XM is regulated in UAE, Cyprus, and Belize. It offers the lowest minimum deposit of only $5. Its mobile app is available on both the Google Play Store (XM – Trading & Investment) and the Apple App Store (XM – Trading Point).

XM Ongoing Bonus Details

Bonus Type	Offer	Conditions
1. Deposit Bonus	Two-tier scheme: 50% up to $500 + 20% up to a combined $5,000	Non-withdrawable trading credit. Withdrawals remove the bonus proportionally. Available under eligible XM entities; exact availability shown in your regional portal.
2. Loyalty Reward Bonus	Earn XM Points per lot; redeem for credit/cash	Standard & Micro accounts eligible (Ultra Low excluded). Crypto CFDs don’t earn XMP.
3. Referral Bonus	Earn up to $80 for each successful referral	You need to ask your friends to encode the unique referral code when they sign up. Referral bonus amounts then go to your trading account.

Important Limitation: XM’s forex bonuses are restricted for traders in the EU, UK, and Australia. Also, availability is entity-specific: the EEA/Cyprus entity serves EEA residents, while other entities state the site is not directed at U.S. residents and restrict services where prohibited by local law/sanctions.

9. FBS

Ninth, FBS stays on the list for aggressive headline offers like a 100% deposit bonus and higher-tier percentages on subsequent deposits, plus frequent seasonal promos that add cashback per lot. Activation is handled in-app or via the site, and there is a steady rhythm of short-term campaigns that keep value flowing for active accounts.

FBS is regulated in Belize, Cyprus, Australia, and South Africa. Together with XM, it has the lowest minimum deposit requirement of only $5. Its mobile app (FBS – Trading Broker) is available on both Google Play Store and the Apple App Store.

FBS Ongoing Bonus Details

Bonus Type	Offer	Conditions
1. Deposit Bonus	100% on first deposit; up to 60% on following deposits	Available to verified clients only. No opt-in required, and it is automatically applicable. Bonus is not withdrawable (only the profits made from it). Subsequent deposits must be at least $100 each to qualify.
2. Seasonal Bonus	Time-limited promos with per-lot cashback ($0.5–$1.5/lot)	Runs as scheduled campaigns; requires opt-in and meeting activity thresholds. Not permanent; details vary by promo.

Important Limitation: FBS’s forex bonuses are restricted for traders in the EU, UK, and Australia. Also, it does not offer services to residents of the USA, the EU, the UK, Israel, Iran, and Myanmar.

10. HFM

Lastly, HFM rounds out the top 10 with multiple entity-based schemes (such as 100% Credit Bonus, 30% Rescue Bonus, and 50% Welcome Bonus) plus a loyalty program where “HFM Bars” redeem into benefits, and a Return on Free Margin program that pays daily earnings from a prize pool. It’s a varied toolkit, though availability and terms depend on the specific HFM entity.

HFM is regulated in Kenya, St. Vincent & the Grenadines, UAE, Mauritius, UK, Cyprus, Seychelles, and South Africa. HFM does not have a minimum deposit on most of its accounts, (except for its Pro account which requires $100). Its mobile app is available on both the Google Play Store (HFM – Forex, Gold, Stocks) and the Apple App Store (HFM – Online Trading). 

HFM Ongoing Bonus Details

Bonus Type	Offer	Conditions
1. Deposit Bonus	20% top-up bonus	Available to all account types; only profits made can be withdrawn and the top-up bonus cannot be withdrawn.
2. “Rescue” Bonus	30% tradable credit used as a drawdown buffer	Proportional bonus removal on withdrawals; deposit minimums apply; one account per client. Region/entity specific.
3. Loyalty Reward Bonus	Trading Rewards Loyalty Program	Earn “HFM Bars” redeemable for cash/services.

Important Limitation: HFM’s forex bonuses are restricted for traders in the EU, UK, and Australia. Also, it does not offer services to residents of the USA, Canada, UAE, Sudan, Syria, Iran, North Korea, and other restricted jurisdictions.

What is a Forex Trading Bonus?

A forex trading bonus is an incentive offered by brokers to attract new users and retain current ones, providing extra value beyond a trader’s own capital. This special offer can take many types, such as deposit-match bonuses, cashback rewards, free VPS services, or even refer-a-friend rewards, and in some cases, limited-time seasonal offers tied to holidays or special events.

Note that each bonus comes with specific rules and guidelines (such as trading volume requirements, withdrawal conditions, and eligibility criteria). For brokers, forex trading bonuses are also intended to make them more competitive by matching other brokers’ offerings or even actively undercutting the competition to encourage (or nudge) users from other brokers to switch to them.

Which Types of Forex Trading Bonuses Exist?

The following are the most common types of forex trading bonuses you will encounter:

• Deposit Bonus: The broker tops up your account with extra funds based on how much you deposit. Hence, it essentially gives you more trading capital right from the start.
• No Deposit Bonus: Unlike a deposit bonus, this type of bonus is a small trading credit offered without needing to first fund your account. It’s mainly there to let new traders try the broker’s platform in real trading conditions, though withdrawals usually come with certain restrictions.
• Cashback/Rebate Bonus: A portion of the spreads or commissions you’ve paid gets returned to you. Over time, this helps lower your total trading costs over the long term.
• Free VPS Bonus: The broker covers the cost of VPS or “Virtual Private Server,” so you get uninterrupted, low-latency trading. This is particularly handy for experienced traders that use advanced and automated strategies or need 24/7 connectivity at all times.
• Referral Bonus: Here, you earn a reward, whether in cash or trading credit, when someone you sent a referral code opens an account and starts trading with the broker.
• Seasonal or Promotional Bonus: These are limited-time offers that usually come during holidays, key market events, or certain occasions.
• Loyalty Program Bonus: Here, you can build up points or rewards through your trading activity over time, which you can redeem for cash, trading credit, or other benefits.

How to Claim a Forex Bonus?

Here’s the general step-by-step process of claiming a forex bonus:

Step 1: Choose a forex broker and check the bonus offer

Visit the broker’s promotions page and read the bonus details, including the rules, expiry date, and eligibility.

Step 2: Open and verify your account

Complete the sign-up process and submit any required documents for verification.

Step 3: Opt in to the bonus

Some brokers apply bonuses automatically, while others require you to click a “Claim” or “Join Promotion” button in your dashboard.

Step 4: Make your deposit

For a deposit bonus, transfer the required amount to your trading account.

Step 5: Receive and use the bonus

Once credited, you can use the bonus to open trades. Just remember to meet the trading volume requirements before attempting a withdrawal.

When Should You Claim a Forex Bonus?

Based on our experience, the best time to claim a forex bonus is when it actually complements your trading goals, not just because it looks attractive on paper. For instance, we usually take advantage of a deposit bonus when we are planning to trade actively in the coming weeks and can realistically meet the volume requirements. Meanwhile, seasonal offers can also be worth it, especially if they give significantly better terms than usual.

Nevertheless, we generally avoid claiming bonuses when we know we won’t be trading that much, as unused bonuses with strict rules can end up limiting withdrawals. Also, some bonuses may nudge you to overtrade just to hit the volume requirement, which may end up becoming disadvantageous as it reinforces a bad habit and does more financial harm than the potential upside from getting the bonus.

Is a Forex Bonus Suitable for Beginners?

Yes and no. Yes, because a forex bonus can be valuable for beginners since it gives extra capital to trade with, helping you take positions in potential trades that fit in your trading strategy and plan. That said, it’s not always a good idea, especially if you don’t fully understand the conditions attached or if you jump into trades without a clear trade plan. 

In fact, we’ve seen many beginner traders jump into getting a forex bonus, rush to meet volume requirements, and end up overtrading, which does more harm than good. Hence, if you’re new, we advice you to take the time to read and understand the specific bonus rules and how it works, as well as make sure you will not compromise your trading strategy and plan just to meet the bonus requirement.

What are the Rules for Forex Bonuses?

In general, every bonus has a unique set of rules. That said, here are the usual rules you will encounter:

• Eligibility Criteria – Some bonuses may be exclusive for only new clients, certain account types, or even traders from specific countries.
• Trading Volume Requirement – In general, most bonuses requires that you must trade a set number of lots before you can withdraw the bonus or profits earned from it.
• Withdrawal Restrictions – The bonus itself usually cannot be withdrawn directly and also contain a clause regarding withdrawal of any profits made using the bonus.
• Time Limit – A specific period is given to meet the bonus requirements, after which the bonus may expire and not give any benefit.
• Tradable Asset Limitations – Certain bonuses can only be used on specific currency pairs or CFDs and cannot be used to trade outside of the stated tradable assets.

Can You Withdraw Your Forex Bonus?

Yes, but not always. Note that some brokers allow you to withdraw the bonus once you meet their trading volume requirements, while others only let you withdraw the profits you earned from using the bonus as added capital. From what we’ve observed, in many cases, the bonus is really meant to be used as simply an extra margin for trading. Hence, it is important to read the specific terms of a bonus to know whether you can withdraw the bonus or only the profits from it to help you decide if the offer is worth it for your use case.

Do Regulated Forex Brokers Offer Bonuses?

Yes, regulated forex brokers do offer bonuses, but not under all regulators. This is because in some parts of the world, regulating bodies do not allow forex bonuses, as it is seen as high-risk incentives that can do more harm than good. Notably, this includes the following:

• Countries under the European Union (EU), where forex brokers are regulated by the European Securities and Markets Authority (ESMA)
• Australia, where forex brokers are regulated by the Australian Securities and Investments Commission (ASIC)
• UK, where brokers are regulated by the Financial Conduct Authority (FCA)

In contrast, brokers regulated in offshore jurisdictions such as Seychelles, Belize, and other caribbean (and often considered tax haven) countries often offer a wide range of bonuses with no to minimal bonus restrictions. Hence, whether you see a bonus or not largely depends more on the broker’s licence location than on the broker itself.

Where are Forex Deposit Bonuses Not Allowed?

Forex deposit bonuses are not allowed in regions where regulating bodies have banned them. This includes all brokers regulated in the European Union under ESMA, as well as those licensed by the FCA in the UK and ASIC in Australia. In addition, brokers regulated in the US are also prohibited by the CFTC from offering bonuses.

Hence, as a result, brokers licensed and regulated under these jurisdictions cannot advertise or provide such bonuses, and traders looking for them often turn to brokers regulated in offshore jurisdictions (such as those licensed in the Caribbean-island countries) where bonuses are still permitted.

Why Forex Brokers Give Bonuses to New Users?

Forex brokers offer bonuses for several reasons. First, it’s a way to attract attention in a crowded market, helping them stand out from their numerous competitors. They can be a tool for staying competitive or directly undercutting rivals, especially when multiple brokers have relatively similar offerings.

Second, bonuses also act as an incentive for traders to open and fund their accounts more quickly. Third, bonuses can also help build customer loyalty which will translate to higher customer retention as it is extremely easy to switch to a different forex broker.

What are the Pros and Cons of Forex Bonuses?

The following are five benefits of using forex bonuses:

• Magnifies Trading Capital: It essentially gives you more funds to play with, allowing you to open larger positions or take more trades without additional deposits on your part.
• Helps Offset Trading Costs: Forex bonuses can reduce spreads or commission expenses that you pay, especially over a long period of time.
• Access to Additional Tools: Some bonuses come with free VPS or premium platform features that facilitate better trading conditions for you.
• Boosts Margin: Due to having a larger balance, it can help you prevent margin calls, particularly when trading volatile pairs.
• Increases Trading Opportunities: More capital allows you to take advantage of trading opportunities that may present themselves.

Here are the top five reasons to avoid forex bonuses:

• Strict Conditions: Trading volume requirements can be deviously high and hard to meet for beginner/unfamiliar traders.
• May Encourage Overtrading: Trying to meet lot targets quickly can lead to poor trade decisions and can distract you from taking a much more careful approach to trading.
• Time Limits: The limited trading window may put pressure on traders to trade more aggressively even if the right trade conditions are not present.
• Not Always Available in Regulated Markets: Many regulators (such as in the EU, UK, Australia, and the US) ban bonuses entirely, limiting your broker choices.
• Hidden Terms: Unfortunately, some brokers prioritize the marketability of their bonuses and bury key conditions and nuanced terms in the fine print to make the bonus look better than it is. By doing this, some traders will erroneously believe that the bonus is better than it actually is.

Conclusion: Forex Bonuses Can Help Reduce Costs and Increase Profits

All things considered, we recommend viewing forex bonuses as “cost savers,” and not necessarily “free money,” which, unfortunately, many traders (particularly beginners) tend to consider. In fact, most bonuses, including those offered by forex brokers in this list (such as by Vantage Markets and VT Markets), generally aim to cut on spreads and commissions or add margin flexibility, which ultimately leads to higher net profit compared to the scenario without using these bonuses. 

That said, forex bonuses are not automatic “good deals” as the trade-off is that most offers are heavily conditional, with relatively high lot targets, caps, time windows, limits on tradable assets, and minimum hold times. Hence, if you are not careful, these bonuses can inadvertently nudge you to overtrade and/or to seek more risks by having bigger positions, making them risky incentives, particularly for beginners that in some parts of the world (such as in EU, UK, Australia and the US), these bonuses are largely not allowed at all by the regulatory bodies.