Forex Broker Bonuses in 2017

Forex bonuses are very popular among new traders. Bonus deals, particularly no deposit promotions, can help beginners learn new trading strategies without risking any capital. However, finding a good forex bonus deal can be a challenging task. In this piece, we share some top forex bonus deals for our valued readers. We also highlight pros and cons of different forex bonus promotions.

Top current deals

Given below are the best forex bonus promotions for 2017;

RANK
Broker
MINIMUM DEPOSIT
BONUS
Avg Spread
Pros
RATING
MORE INFO
Min Deposit :
$250
20%-40% up to £5,000 Bonus!
Avg Spread :
N/A
  • Unregulated
  • Big Payouts (95%)
  • Unique Trading Tools
9.8/10
Min Deposit :
$100
N/A
Avg Spread :
0.5pips
  • Mobile trading
  • Social Trading Allowed
  • Regulated Broker
9.3/10
Min Deposit :
$100
No bonuses awarded
Avg Spread :
0.5pips
  • Regulated Broker
  • Mobile Trading
  • Wide Asset Range
9/10
4
Min Deposit :
$250
N/A
Avg Spread :
N/A
  • Mobile Trading Available
  • Regulated Broker
  • Good Track Record
9/10
5
Min Deposit :
$1000
N/A
Avg Spread :
N/A
  • Free Software
  • Highly Accurate Signals
  • Uses Sound Indicators
9/10
6
Min Deposit :
$100
N/A
Avg Spread :
0.5pips
  • Mobile trading
  • Regulated Broker
  • Robust Forex Education
8.8/10
7
Min Deposit :
$200
This promotion is valid for new and existing clients on their first deposit during the promotion period only
Avg Spread :
1 pip
  • Automated Trading
  • Well Regulated
  • Mobile Trading
8.8/10
8
Min Deposit :
$500
N/A
Avg Spread :
0.5 pips
  • Proprietary platform
  • Regulated Broker
  • Numerous Assets to Trade
8.5/10
9
Min Deposit :
$250
No-deposit bonus
Avg Spread :
0.5pips
  • Regulated Broker
  • Mobile Trading
  • Compendium of forex training tools
8.2/10
10
Min Deposit :
$500
No-deposit bonus
Avg Spread :
0.5pips
  • Multiple regulation and licensing
  • Mobile trading
8/10
11
Min Deposit :
$10
Deposit $1200 minimum for a 100% bonus
Avg Spread :
0.4pips
  • Mobile Trading
  • MT4 platform with robot trading capacity
8/10
12
Min Deposit :
$100
N/A
Avg Spread :
N/A
  • Downloadable Platform
  • Mobile Trading Available
  • Multiple Trade Types
7.5/10
13
Min Deposit :
$250
N/A
Avg Spread :
N/A
  • Automated trading
  • Easy to use
6.5/10

 

What Is A ‘Forex Bonus’?

After signing up to a broker, you are often awarded additional funds in excess of your deposited amount – this is what’s known as a forex bonus. You may notice that different brokers follow different strategies to reward their customers for opening an account, some of these are:

  • Deposit bonus – A bonus received after you make some deposit at broker.
  • No deposit bonus – This is a bonus received without making any deposit at broker.
  • Drawdown bonus – It is a kind of bonus that can sustain losing streak even when your actual funds are lost.
  • Referral bonus – A bonus received as a token of appreciation when you refer clients to the broker.
  • Lucky-draw bonus – Bonus awarded randomly through lucky draw.
  • Competition bonuses – Bonus received when you secure any position in a trading competition organized by the broker.
  • Cash back bonus – Volume based bonus which is received after trading certain number of lots.

As you can see there is a wide variety of bonuses to choose from with each broker offering a slightly different deal.

Why Do Brokers Offer Forex Bonuses?

Both deposit and no deposit bonuses are offered for various reasons. The simple truth is, it’s to lure online traders in – and it works! It just makes sense that you would sign up to the broker which suits your best bonus needs.

Another reason can be to attract the potential, but reluctant, traders. Sometimes brokers reward traders for their loyalty and appreciate them for actively trading certain volumes.

How To Claim Forex Bonuses?

Being a trader, you need to open an account with brokers by depositing the minimum amount of money required. Doing so, however, still doesn’t mean that you are eligible for the bonus. You may be required to fulfil some additional conditions including but not limited to;

  • Minimum trading volume
  • Verification of your identity
  • Verification of your address
  • Verification of your phone number

Bonuses always come along with certain terms and conditions, so make sure that you read the bonus terms properly.

Pros

  • You can start trading right away even without investing – All you need is to open a no deposit bonus account.
  • You are safe since you have no or very small amount of capital at risk.
  • You learn different trading skills and money management strategies without fearing major losses.

Cons

  • You may not be able to withdraw your profits unless no deposit bonus conditions are fulfilled.
  • You may need to satisfy certain conditions before your profits are released.
  • You may not be able to switch your broker after accepting the deposit or no deposit bonus offer.

How Do Forex Bonuses Work?

For better understanding, let’s use an example. For instance, Mr. John opens an account with a broker by depositing $1000. He receives a $200 deposit bonus. As soon as the account is verified, he wants to withdraw all $1200 at once. Wait, do you really think it is that simple? Obviously No! Mr. John would need to trade certain number of lots before he can withdraw the $1200 from his trading account.

Factors to Consider Before Choosing a Good Forex Broker

As mentioned earlier, finding a good forex broker offering reasonable deposit/no deposit bonus deals can be a challenging task. We try our level best to point out some important factors that you may consider before making a final decision.

Regulation

Selecting a good broker for forex bonus account is no different than selecting a broker offering no bonus. You may not want to open an account with a broker who takes your money and run away. Regulation ensures that the broker is bound to abide by the laws in place by respective regulatory authorities. In case of any dispute between you and the broker, you have a legal backup. In short, your investment is safe as far as it is held with a regulated broker, exceptions are there though. This, however, is not the case with unregulated brokers and therefore it is not recommended to open an account with an unregulated broker.

Bonus Offer & Associated Conditions

Before opening an account with a broker and accepting any bonus amount, you should, first, read terms and conditions in place by the broker. You should not accept any bonus offer that requires you to undergo unrealistic trading volume. Similarly, withdrawals should not be restricted because of the bonus promotion.

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