Best Forex Welcome Bonus

Forex brokers often offer bonuses and promotions to attract new traders to their platforms. These bonuses come in various forms, either as a percentage or a fixed amount, and are accessible when one opens a live trading account or makes a deposit into it.   

Types of welcome bonuses

There are different welcome bonuses you might encounter:

• No Deposit Bonus: This is a bonus a broker offers without requiring any initial deposit from you.
• Deposit Bonus: A deposit bonus is a bonus based on your deposit amount and is usually issued after making your first deposit. This bonus can be presented as an exact amount or a percentage.
• Lot Rebate Bonus: This is a bonus given based on your trading volume, typically measured in lots traded. For every lot you trade, you receive a certain amount as a rebate, either in cash or as trading credits.
• Cashback Bonus: With this bonus, you receive a percentage of the spread or commission paid on each trade as a cash reward.
• Welcome Package: A welcome package combines different bonuses and incentives into one offer.                                       

Overview of The Best Forex Brokers Welcome Bonus Offers

Broker	Welcome Bonus
AvaTrade	20%
XM Group	50% of up to $500 + 20% of up to $4,500
IFX Brokers	100% deposit bonus
Roboforex	30% deposit bonus
Forex.com	20% deposit bonus
Trading.com	$100 no deposit bonus
FXCM	2% to 5% deposit bonus

AvaTrade

With a history dating back to 2006, AvaTrade is a reputable broker that prioritizes forex and CFD trading, offering a wide range of excellent trading platforms. It also offers exceptional educational resources on trading.

Now and then, AvaTrade gives new clients a 20% welcome bonus. You can claim this bonus on the broker’s website. You can even determine the amount of your bonus by calculating it according to your deposit.

Terms and Conditions

• All CFD and FX trades are eligible for bonuses
• Valid for USD, EUR, AUD, and GBP base currency accounts only
• Maximum deposit limit is 50,000 
• Not available to Skrill and Neteller users. 
• Requires KYC and account verification first. 
• The bonus can be canceled if you don’t reach sufficient trading volume within 6 months.
• Not available in several jurisdictions including the UK, UAE, Japan, European countries, and China. 

XM Group

With XM Group, you get access to a wide range of trading options, including over 1,000 instruments like forex pairs. They have been recognized for their top-notch educational materials, which consist of daily videos, webinars, podcasts, courses, and articles.

XM currently has two main welcome bonuses in its bonus program:

• 50% bonus of up to $500 or its currency equivalent + a 20% of up to $4,500 maximum or its currency equivalent. This is a two-tier bonus on your deposit. When combined, you can get a considerable $5,000 on top of your investment amount.  
• The Africa Odyssey 100% welcome bonus is available to traders in African countries. With this bonus, you can get up to $500 extra credit.

In addition to the welcome bonus, XM also has special seasonal and highly exclusive bonuses, available on an invitation-only basis.

Terms and Conditions

• Bonuses are automatically available who deposit funds. 
• Bonuses can’t be withdrawn, only profits. 
• Instant credit on your deposit
• Applied to deposits from just $5
• Available for MT4 and MT5 accounts
• Ultra Low Micro and Ultra Low Standard accounts are not eligible for deposit bonuses.

IFX Brokers

From South Africa, IFX Brokers has been a CFD and forex broker since 2018. It has diverse tradable instruments, offers advanced trading tools and educational resources, and supports MetaTrader 4 and MetaTrader 5. 

IFX has a standard 100% deposit welcome bonus on your first deposit of up to $5,000 (cumulative). This bonus also applies to recurring clients. 

Terms and Conditions

• Only available on IFX Standard Accounts.
• No minimum deposit amount
• Can’t withdraw the bonus amount.
• Currencies available are ZAR, USD, EUR, and GBP.
• You must maintain the 50% margin call and 30% stop-out level

Roboforex

Established in 2009, RoboForex boasts of over 12,000 trading instruments, low spreads and commissions, and has various trading platforms including R StocksTrader MetaTrader 4 and 5.

RoboForex offers a $30 welcome bonus once you register and deposit. You will need to pass the broker’s verification process and deposit at least $10 to your account via China UnionPay, Maestro, MasterCard, and VISA cards. You can activate the welcome bonus code, in the “Extras” section of your Members Area, and the bonus will be transferred to your account within 5 business days.

Terms and Conditions

• Available to standard MT4/MT5 accounts (Pro and ProCent)
• Base currencies are USD and EUR as the base currency. 
• Valid for only 30 days
• Limited in jurisdictions

Forex.com

Forex.com is an industry leader with over 20 years of experience. Offering over 5,500 instruments, including more than 80 currency pairs, Forex.com has a leverage of up to 50:1 and some of the lowest forex fees in the market. It also supports TradingView and MT5. 

Forex.com offers a 20% welcome bonus of up to $5,000 when you deposit a minimum of $250 within 14 days. To qualify, you must apply and be approved for a self-directed Standard, MT4, MT5, or the Commission account type. You can choose to either make one lump sum deposit or a series of deposits within those 14 days. 

Terms and Conditions

• Minimum of 2 qualifying trades (within 60 days of your initial deposit date)
• Minimum Bonus redeemable is $50
• Your bonus can be used for trading or it can be withdrawn. 
• Your account must be opened directly with FOREX.com and not through a broker
• Not available to US, UK, or China residents
• Your first deposit date must be after July 24, 2023

Trading.com

Trading.com is a fast-growing firm designed for new traders. With competitive spreads, cost-effectiveness, free demo accounts, and a minimum deposit of 50%, Trading.com reinforces its commitment to safeguarding client interests.

Trading.com has a $100 no-deposit welcome bonus offered to new traders. To claim the bonus, you will need to complete your account registration and validate your identity and mobile number. You can use your bonus to trade. 

Terms and Conditions

• No deposits required
• Any portion of the bonus can be withdrawn. For example, for every lot traded, $5 of the bonus is withdrawable. 
• You can withdraw all profits you earn from trading with the bonus.
• Residual trade losses more than the cash balance are deducted from credit until depleted.

FXCM

FXCM, founded in 1999, is considered one of the pioneers in the brokerage industry. This UK-based broker offers a wide range of tradable instruments across various platforms such as TradingView Pro and MetaTrader 4.

FXCM currently has three promotions you can choose from based on the timing of your deposit.

• If you deposit your account within 24 hours you get a 5% bonus of up to $500. 
• If you deposit within a week, the bonus is 3% up to $300. 
• A deposit within 1 month gets a 2% bonus of up to $200. 

Terms and Conditions

• You must generate a minimum of 2 standard lots in forex.
• The maximum bonus is $500
• Bonus is received within 14 business days of deposit

How can I access a welcome bonus?

Getting a welcome bonus is easy. All you have to do is open an account with the forex broker. Once your account is approved the deposit is credited into your account.

How do I know a bonus is available in my country?

To know where a bonus is available, check the broker’s terms and conditions. While most brokers offer bonuses to all their clients, some bonuses are only available to clients from specific countries.  

Finally

A forex welcome bonus is free money sent to your trading account by a broker. However, this bonus has conditions attached. For example, in most cases, direct withdrawal of the bonus amount is not allowed. It is paramount that you read the T&Cs before accepting a bonus.