Best Forex Brokers with Bonuses and Promotions

logomark Filippo Ucchino calendar Last Updated: January 2022 timer 11 min read
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At InvestinGoal, we adhere to strict standards to ensure an unbiased review process. We conduct our reviews by examining each broker’s offering and performance across 4 key categories. A final rating is produced for each forex broker based on a total of 187 data points. Learn more about our review process and methodology.

Are you on the lookout for the best forex brokers with bonuses and promotions to offer?

They can be tricky to find, but if the answer is yes, then you are certainly in the correct place. Here we will give you all of the information you need, not only on the top recommended brokers if you are looking for a bonus, but also what these promotions mean, and how they can best work to your benefit as a trader.

However, you should know that bonuses may not be available in every country and that brokers are not allowed to offer these to customers based in the EU, UK, Australia, and other jurisdictions due to local regulatory restrictions. in order to know if a bonus is available in your country read the T&C of the promotion.

With that in mind, let’s take a closer look at the best brokers we have found that can offer bonuses and promotions to you as a trader.

Table of contents

Round-up of the best forex brokers with bonuses

Brokers Deposit bonus Contests Loyalty program
FBS Yes Yes Yes
XM Yes No Yes
Instaforex Yes Yes No
Roboforex Yes Yes No
HotForex Yes No No
OctaFX Yes Yes No
FXTM Yes Yes No
Vantage Yes No Yes
Axiory Yes No No
FxOpen Yes Yes No

WARNING

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Between 74-89% of retail investor accounts lose money when trading CFDs.
You should consider whether you can afford to take the high risk of losing your money

Top 10 forex brokers with bonuses and promotions

Here are the ones we have found available:

FBS has some of the top promotions and bonus offers in the industry. They are well-known as being a very respected broker around the world, and they have a huge amount of bonuses on offer.

At FBS you can win a wide range of prizes from holidays to new cars, and you can also double your deposit with the great FBS 100% deposit bonus they have in place. An FBS no deposit bonus is also available at no-risk at all to your funds as well as a cashback bonus if certain conditions are met.

The FBS bonus offering continues to grow and expand with many contests and challenges also available where you can win cash, trips, and VIP event invites. They also run contests directly on social media like Facebook where all you need to do is share posts with your friends. These are just some of the reasons why FBS is a top bonus broker for all traders.


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74-89% of retail CFD accounts lose money

XM is another top international broker, and one of the most easily recognizable in the industry. They too offer a strong range of bonuses and promotions. These start with an excellent $30 no deposit bonus which you can use for completely risk-free, real money trading.

Beyond this you will also find a deposit bonus of up to $4500 which means your deposit will be matched by the broker with free money up to this high value. Aside from those regular types of bonus offerings, XM also runs a lucky draw which has a huge total value of $1,000,000. As a regular trader with the broker you can also join their loyalty program which is points based. You can redeem these points through your trading actions to obtain a wide range of great benefits with the broker.

 

Please note that these bonuses may not be available with every XM entity.


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73.57% of retail investor accounts lose money

InstaForex is the next broker to make the top list of brokers providing bonuses and promotions. They too are very well-trusted by a broad range of traders across the industry. They start their bonus offering with one of the very best no deposit bonus offers in the sector. This is the InstaForex $1,000 no deposit bonus.

Further to this monster bonus offer, the broker also provides a deposit bonus of 30% so you can always receive an additional 30% on top of your initial deposit as risk-free bonus funds to trade with the broker. Added to this, InstaForex makes a huge range of contests and challenges available where you only need to have a demo account to participate and win. Here you can win a great range of physical prizes including cars, money, and much more.


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61.14% of retail investor accounts lose money

RoboForex are in on the act too as another respected top broker offering bonuses and promotions to their traders. The excellent bonus infrastructure here starts with a deposit bonus that can be either 10%, 60%, or a huge 120% depending on how much you are depositing.

The offers do not stop there with RoboForex either. Just for joining the broker, you will be entitled to a $30 welcome bonus. This can be used for completely risk-free trading on the markets of your choice. You will also be entered into weekly and monthly contests which are free to enter but where you can win real prizes on both demo, and live accounts. Regular traders are not forgotten either with cash rebates stretching up to 15% based on how much you trade.


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61.41% of retail CFD accounts lose money

HotForex are one of the cornerstones of the industry and regularly feature as a top broker in many listings. They too have a very strong bonus infrastructure though it may not be available in every country the same. This is particularly true in Europe.

Outside of that though, their offer is strong. They provide a number of unique bonuses the first of which is a 100% credit bonus. This acts to double your deposit with completely free bonus funds. They also offer a very unique 30% rescue bonus. This bonus protects your funds from drawdowns up to $7,000. The 100% Supercharged bonus is one of their most popular though. This provides for a huge amount in cash rebates that can reach up to $8,000, on top of a 100% deposit bonus. All of these great offerings maintain HotForex as a very popular bonus broker of choice.

 

Please note that these bonuses may not be available with every HotForex entity.


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71.64% of retail investor accounts lose money

OctaFX is another popular, and rapidly growing name in the sector. They are not stepping back when it comes to offering a bonus either. If you are trading with this broker, the first thing you may want to try out are some of the demo account contests.

These great contests come with prizes of up to $500 real cash if you are trading through Metatrader, and $150 if you are using cTrader. If these pique your interest, then you can decide to deposit for real, and benefit more from a 50% deposit bonus which is on offer. On top of this, there are many other prizes including merchandise to be won from a broker who is strong, trusted, and growing all the time.


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74-89% of retail CFD accounts lose money

FXTM is one of the biggest names in the industry. They have also not forgotten a strong bonus infrastructure, and for this reason, they too feature on our list of the best brokers for bonus offers and promotions.

At the core of the FXTM bonus offering is their excellent loyalty program. Here, the more you trade, the more you can get paid. At the maximum level you have the ability to earn as much as $10,000 from the program. Also offered by the broker are a great range of both demo and live trading contests where you can compete against your fellow traders to win top prizes.


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81% of retail investor accounts lose money

Vantage is next in our selection of the best forex brokers who offer a good range of bonus systems. Here you will be able to take advantage of a 50% deposit bonus that will allow you to trade risk-free with bonus cash from the broker based on how much you deposit.

Vantage also offers a great and very rewarding loyalty program where you can avail of 10% rebates on your trades up to $2 per lot traded when you deposit at least $1,000. With the broker and this program, there is no limit on the trade size at all. The higher the lot size you trade, the higher your bonus will be.


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74-89% of retail CFD accounts lose money

The next broker featured that offers a bonus amount is Axiory. They are a popular broker choice for many and are regulated by the IFSC.

Their current bonus promotion offer is valid until 31st March 2022 and is a 50% deposit bonus. This means you can get an additional 50% on your deposits as a bonus up to $5,000. 

The broker also offers a $25 no deposit bonus just for opening your account. In the case of both amounts, they are not withdrawable directly or right away, but you can withdraw profits you make from trading off these bonus amounts.


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(Your capital is at risk)

The next broker on the list offering top promotions and bonuses is FXOpen. They kick their bonus offering off with a $10 no deposit bonus. This is great if you are new to trading and looking to try out the broker with no risk at all to your own money.

Another great offer for beginners is the $1 welcome bonus on micro accounts. This makes sure you are covered to trade with free money, even at lower risk levels. Like many of the other brokers they also provide access to a large number of trading contests with a unique prize attached. This prize is that if you reach a certain benchmark of profit in the contest with virtual funds, they will then turn 10% of these funds into real money for you to trade with. A very attractive bonus proposition indeed from this popular broker.


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74-89% of retail CFD accounts lose money

Are these bonuses really free money?

Although it may be hard to believe at first, it is true. The bonuses really are free money that is sent to your account by the broker. Now what is often asked is, can I withdraw these bonus funds?

Generally, the answer is yes with most top brokers. Their policy will vary though and in many cases, there are certain trading criteria that you must meet in order to withdraw the bonus funds from your account.

What should I check when choosing a bonus?

There are a couple of very important steps that you must run through when checking the bonus that you should choose, and the broker who is providing that bonus.

First off, it is vital that you read the terms and conditions carefully, so you know exactly what is on offer. Added to that, it is important to consider the whole offering of a broker. This means not only the bonus amounts, but what else they have to offer such as spreads, minimum deposits, and more.

Different type of bonuses

When choosing your forex broker bonus, it is also important to keep in mind that there are many different bonus types available. Here is a more detailed look at exactly the kind of bonuses that are offered by brokers:

Forex deposit bonus: The forex deposit bonus is a certain amount of money offered as a bonus based on the amount which you deposit. In the case of many brokers, this can mean matching your deposit amount with an equal bonus amount.

Forex no deposit bonus: A forex no deposit bonus, as you might gather from the name, is a bonus which is offered to you with no deposit required. in most cases, you simply have to complete the registration process. This money is free and can be used in real trading at no risk to your own money.

Welcome Forex bonus: The welcome bonus can be similar to a no deposit bonus. You will get a bonus money amount for completing registration, and in some cases based on the amount of your first deposit.

Loyalty Program: A forex broker loyalty program, just like any other, is usually based on how much you use the service. In this case, the more you trade, the more you will be rewarded by such programs. These rewards could come in the form of lower trading costs, additional premium trade tools, physical prizes, access to live events and meetings, and much more.

Points System: The forex broker point systems can also be based on loyalty programs. With these systems, the more you trade, the more points you will earn. These points can then be used to access monetary prizes, cars, vacations, and more.

Cash Back and Rebates: Cash back and rebate programs are also a very common form of bonus. Just as the name suggests, with this form of bonus, you can earn money back for each lot you trade.

Money Protection Bonus: This is not a very common form of forex broker bonus, though it exists, nonetheless. This kind of bonus from your broker actually protects your funds from reaching a certain negative level, and in some cases, anything beyond this negative point can be refunded.

Forex Contest Prize: There are a wide range of brokers who organize contests which you can participate in with virtual funds against other traders. If you win some of these contests through making the most profit from virtual funds, then you can win all kinds of great prizes including cash, cars, and more.

Why do brokers offer forex no-deposit bonuses and other bonuses?

There are several reasons why your broker may offer a no deposit, or other type of bonus. One of the primary reasons for this is to create value for you as a trader, and to attract new traders to the industry and that broker.

This method is accepted in many parts of the world, though not in Europe. Within the EU, the offering of the majority of these kinds of bonuses is not allowed by the regulator. ESMA does this in a large part to protect beginners from getting involved in trading without the proper knowledge and ultimately losing their money.

Tips on how to choose a bonus and a broker

If you are thinking about choosing a forex broker, the bonus is just one element of this choice, and it should not be a large factor in your decision-making process. First and foremost, you have to choose a broker who is trustworthy, and well-regulated. Luckily all of the brokers on our listing are both of these things.

Once you have done this, then you can think about the bonus they are offering, but do not make your choice based on the broker bonus alone. You have to consider all of your trading needs. In this case, you may want to try out a broker first. This would be a great time to select a no deposit bonus broker so you can try out their real trading at no risk to you.


About the Author

Filippo Ucchino

Co-Founder - CEO - Broker Expert
Filippo is the co-founder and CEO of InvestinGoal.com. He has 15 years of experience in the financial sector and forex in particular. He started his career as a forex trader in 2005 and then became interested in the whole fintech and crypto sector.
Over this time, he has developed an almost scientific approach to the analysis of brokers, their services, and offerings. In addition, he is an expert in Compliance and Security Policies for consumers protection in this sector.
With InvestinGoal, Filippo’s goal is to bring as much clarity as possible to help users navigate the world of online trading, forex, and cryptocurrencies.

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