- A choice of deposit or no deposit forex bonuses
- A secure and safe trading platform
- Quick and simple deposits and withdrawals
- Excellent customer service
Your best forex bonus offers in October 2019
Are your ready for the best online forex bonuses of Oct 2019? Our team of experts has rated and reviewed dozens of forex brokers to bring you our list of the best trading bonus offers.
We’ll explain the many types of forex bonuses and show you how they differ. Whether you’re looking for a forex deposit bonus to boost your trading balance, or a no deposit forex bonus that will get you started on your trading career, our list of carefully selected brokers has the right one for you.
Sign up to one of our top-rated brokers and claim your free forex bonus today.
Our top forex bonus brokers for Oct 2019Advertiser disclosure
How we rate and review forex brokers
When we say we recommend an FX trading broker, we mean it.
Because our team of forex experts has carefully sifted through dozens of sites, testing them and running them through our rigorous rating criteria.
Forex brokers who don’t rate well won’t appear on our site. It’s that simple.
How do we do it?
We analyze the forex bonuses on offer.
Forex trading contests, forecast bonuses, bonus draws, or even forex rebates are great promotions that reward traders for using a site. And they let you have fun too because making money should be fun.
We investigate these forex promotions. Our experts then compare them to compile our list of the best forex bonus brokers.
That lets you concentrate on what’s important: signing up to the best forex broker deals, hassle free.
Licensing and Regulation
We don’t care if a broker is offering the best forex bonus. Unless they are licensed properly we don’t put them on our list.
That’s our promise to you.
We know that trading is hard enough. You shouldn’t have to worry about the integrity of your chosen forex broker. So, we do that for you.
Platform and tools
That makes a good forex bonus broker. And that’s what we’ve delivered, because our listed brokers excel at this.
Find your perfect broker in 3 easy steps
What types of forex bonus can you get?
There are many forex bonuses that brokers offer. They vary from forex welcome bonuses, to the ever-popular forex no deposit bonus. Add in rebate bonuses, forex trading contests, forecast bonuses and draw bonuses and the choice can get bewildering.
However, help is at hand. We know that choosing the right forex bonus is just as important as choosing the right broker. So, we’ve created a guide to the many types and how they work.
Forex Welcome Bonus
A forex welcome bonus is just that. It’s a bonus that welcomes you to a trader’s site. Often, you get a forex welcome bonus when you open a trading account and make a deposit. As a result, it’s also called a deposit bonus.
The size of your deposit bonus is often expressed as a percentage. This percentage reflects the bonus you will receive based on the size of your deposit.
For example, if the broker you are signing up with offers a forex welcome bonus of 30% and you deposit $1,000 you would receive $300 in bonus money.
However, you can’t immediately withdraw your bonus cash from your forex account. If you did the broker would make a loss, and no business can run at a loss. Instead, you must use your forex deposit bonus to trade. But that’s why you signed up!
When you accept a welcome bonus from a forex broker you must reach a trading turnover target before you can withdraw funds from your account. This is an amount you trade on your forex account by buying and selling currency. The more you trade, the quicker you unlock any restrictions from your forex welcome bonus.
The forex deposit bonus is a great way to boost your funds available for trading. However, if you are a casual trader, you might struggle to reach the required trading turnover, and thus this might not be the best bonus for you. If you are a regular trader, then a welcome bonus from a forex broker is an easy way to boost your funds.
No Deposit Forex Bonus
A no deposit bonus from a forex trader is just that: bonus money without making a deposit. That sounds crazy. What broker gives away free money? Is it a scam?
No, it’s not. No deposit forex bonuses are both popular, and completely legit.
This trading promotion is a great way to dip your toe into the forex world. You get a small amount of initial funds and can jump straight into trading to get the feel of things, without risking a cent of your own money.
There are rules and regulations that come along with a no deposit forex bonus. You can’t withdraw the money at once as the broker will be out of pocket. You may also have restrictions on when you can withdraw your profits, such as first trading a set amount of lots.
Despite that, a no deposit forex bonus is a great way to get started in your trading career. Experienced traders with funds ready to invest in might find they are better served with a forex welcome bonus.
Forex Trading Contests
A forex trading contest doesn’t rely on you making a deposit or signing up with a broker. Instead, this trading promotion is for existing clients.
Brokers run forex trading contests to allow traders to compete against each other in a structured environment. The contest has rules and guidelines, including which trades you can make and how long the contest will run. The trader with the biggest profit at the end gets the bonus.
Forex Draw Bonus
Unlike a contest, a forex draw bonus is more like a lottery. A trader is randomly selected by a broker to receive a bonus. Obviously, you need to be a client to take part and draws may be restricted to traders who meet specific criteria, such as trading volumes.
Still a forex draw bonus is a nice way to reward your loyalty to a broker.
Forex Forecast Bonus
A forecast bonus is a form of competition, with forex traders competing to predict something, such as what price a currency pair reaches at the end of a week. The trader that gets closest to the target wins the bonus. Promotions such as the forex forecast bonus are a great way for traders to have fun while trading while also being rewarded for their loyalty in using a broker’s platform.
Forex Rebate Bonus
A forex rebate bonus provides you with cashback on your trades. The broker decides which trades apply, along with a percentage cashback you will receive.
For example, if you had a 50% forex rebate bonus on a specific trade and you traded $100, you would get $50 back whether you made a profit or not from the trade.
There are rebate promotions offered by forex brokers which only apply to losses. In these cases, you receive a percentage of your trade value back only if you make a loss.
Understand that there will be terms and conditions tied to a forex rebate bonus. Obviously, you will need to have an actual trading account and not a demo account. Check out any specific terms and conditions that apply before you make any forex trades with an attached rebate bonus.
Forex Rewards Bonus
Many traders offer forex rewards bonuses. These are often tied to earning points through completing actions, such as signing up to the site or learning about trading. You can then exchange the points for gifts from the forex trader, such as smartphones or tablets.
Forex rewards bonuses are great for new traders. You get to learn, trade and experiment, all while earning points you can exchange for great gifts or bonuses. But experienced traders will find less value in them.
How do you claim a forex welcome bonus?
The steps you go through to claim a welcome bonus from your forex broker will vary although some things will remain common. We’ll walk you through the major milestones, so you’ll find it easy to get your hands on a forex bonus.
Find a great forex broker that offers a bonus
Sign up to a broker’s site
You also must choose which forex trading account you want: micro, mini or standard. Micro accounts are best for traders with a small amount of capital, while bigger traders will want a standard account. Bigger accounts trade larger volumes and thus carry more risk and reward on the trades.
Make a deposit
Of course, if you have opted for a no deposit forex bonus, then you’ll get your bonus on registering with the broker.
Terms and conditions of forex bonuses
“There’s no such thing as a free lunch” holds true in the forex world. Forex brokers are giving you free money to trade with when they give you a trading bonus, but there is fine print attached to it.
You are expected to use the bonus money for forex trading. This shouldn’t come as a shock as it was why you signed up to the site in the first place. Also, there will be restrictions on your account until you have traded a certain volume.
Brokers do this to make sure they earn fees from your transactions before you start pulling money from your account. That is expected as they have just financed your trading with their own cash, sometimes even doubling your initial investment.
This means you can’t have a lucky couple of trades and pull out a chunk of money. You are committed to doing a fair bit of trading when you accept that free money. Despite that, a forex bonus is still a great way to jump start your account, and experienced traders will hit the volume requirements quickly.
What about country restrictions and forex bonuses?
Forex bonus offers are not available to everyone and can vary from country to country. They may be restricted by legislation or the regulator of the region in which a broker operates.
Your forex broker will show any geographical restrictions on any of their trading promotions, so keep an eye out for that. Our team has found the best forex bonus brokers who offer their promotions to as many countries as possible.
Are you ready to get your forex bonus?
Yes, you are, and it’s just a few clicks away. Sign up to one of our top-rated forex bonus brokers and you can enjoy the great welcome and no deposit forex bonuses in just a few minutes.
Start your trading career with a forex bonus today.