Forex Brokers with Bonuses 2022
What are the leading and best forex brokers with bonuses 2022 or promotions to offer you? The answer is probably yes if you are looking for them, but you are certainly in the wrong place if the answer is no.
The information we’re providing you here is about the top-recommended brokers if you’re looking to get a bonus. It will even help you understand how to make the most of these promotions as a trader.
There may be restrictions on bonuses in some countries, and brokers cannot offer them to customers from the European Union, the United Kingdom, Australia, and other jurisdictions since local regulations prohibit this. Therefore, if you are interested in a bonus, you should check the T&Cs of that promotion.
To start with, let’s take a closer look at which brokers offer the best bonuses and promotions for traders.
Forex bonuses: understanding the concept
It may seem impossible, especially if you plan to earn that amount by trading the markets, to increase your capital instantly by an average of 30%–100%.
However, you will be able to achieve that phenomenal figure with the help of a bonus package if you keep a small amount of money in your trading account.
If you are looking to scalp the markets or invest for the long run, the forex brokerage business model provides a service geared toward investors. Obtaining as many traders as possible to its platform is the primary goal of a forex broker.
So, bonuses are an excellent marketing tool since word-of-mouth advertising leads to excellent leads for both the broker and trader, resulting in a win-win scenario for all involved.
While forex bonuses can come in many shapes and sizes, free money usually comes with a few conditions attached. For example, if any trading restrictions are attached to the promotional program, you may want to be cautious about accepting a forex broker bonus.
The market is flooded with numerous brokers who offer many unique features that promise to attract as many clients as possible.
When looking for the best forex trading partner, traders are guided by many parameters, but bonuses are significant in determining whether they choose a broker.
What are the advantages of availing of a forex bonus?
- Without using extra leverage or increasing the monetary risk, capital and market exposure can be increased.
- There is no investment required for no-deposit bonuses.
- The risk-averse trading environment allows you to trade with free money.
- Your knowledge of the market is easy to improve if you become more familiar with it.
- Capital increases the possibility of experimentation.
- In most cases, you can withdraw profits.
- With free trading credits, traders can devise new strategies and take on additional risks.
- Free trading credits or contest prizes can be used to evaluate the broker.
Why do brokers provide forex bonuses such as no-deposit bonuses?
You will receive a no deposit bonus or another type of bonus from your broker for several reasons. Creating value for a trader and attracting new traders to the industry and that broker are two primary reasons.
In many parts of the world, this method is widely accepted, but not in Europe. As a result, EU regulators do not allow most of these bonuses to offer.
ESMA broadly protects beginners by preventing them from entering the market without the proper knowledge and ultimately losing their money.
Major things to look for when signing up for a bonus
As a trader, several factors are to consider to ensure a secure trading environment. Bonuses can significantly influence a positive trading experience.
Before you register for a forex bonus, you should know these points.
1. Terms and conditions
A terms and conditions document typically outlines whether a user qualifies for the offer, how long the bonus will last, and other requirements related to the use of trading credits in live market situations.
It is essential to read and understand the terms before signing up with a broker, even if the documentation seems lengthy.
2. Go for the right offer.
Different brokers may offer traders different rewards and benefits. However, a trader can enrol in only one rewards program at a time.
As a result, you should select a marketing campaign that fits your needs. Huge welcome bonuses are available at registration and reload bonuses on subsequent deposits. Promotional policies vary according to the broker.
3. Policy of withdrawal
It is common for bonus programs to place several restrictions on your account.
You will yet possibly not be able to entirely withdraw your trading capital if you have chosen a bonus unless you have met specific trading requirements. Similarly, there may be restrictions on the bonus amount, and the free trading credits are possible to withdraw in some instances.
To lift the restrictions on bonus capital, brokers may impose wagering requirements of anywhere between 5* and 30*. In addition, brokers may withdraw the bonus amount and, in some cases, profits from an account if the trader fails to complete the required lots within the timeframe.
4. Instruments supported
Often promotional campaigns are targeted towards promoting a specific market or financial instrument. Due to the popularity of cryptocurrencies, brokers have been obligated to launch crypto-based promotional campaigns. It can be used only by cryptocurrency traders.
In practice, therefore, the broker can remove credits from an account if traders use these bonuses in combination with other instruments and markets. A broker may even delete whole accounts if they violate the trading agreement.
Before using a bonus, you should always be alert to any conditions that might apply.
List of forex brokers offering bonus and other promotions 2022
Promotions and bonus offers at FBS are among the best in the business. Their reputation as a trusted broker is well-known across the globe, and they offer a wide range of bonuses.
The few best prizes available at FBS are holidays and new cars, as well as a 100% deposit bonus doubling your deposit. Additionally, FBS offers no deposit and cashback bonuses if you meet specific requirements.
You can also win cash, trips, and VIP invitations as part of the bonus offer of FBS. On Facebook, you can also enter contests by sharing posts directly with your friends.
FBS is regarded as one of the best bonus brokers by traders for various reasons.
One of the most well-known brokers in the industry is XM. Their bonus and promotion offerings are also impressive. With these, you can trade for real money utterly risk-free with a $30 no deposit bonus.
Additionally, the broker offers a deposit bonus of up to $4500. It means your initial deposit is matched by free cash up to the amount of this bonus.
XM offers a total of $1.0 million in lucky draws and regular bonuses.
Members of the broker’s loyalty program can also earn points if they trade regularly. You can redeem these points for many great benefits by trading with the broker.
The following broker in our list is InstaForex, which provides bonuses and promotions. A broad range of traders within the industry trust them as well.
With one of the best no deposit bonuses in the industry, they start their bonus program. The amount of the deposit bonus is $1,000.
Aside from this massive bonus offer, the broker also offers a deposit bonus of 30%. Hence, this means that you will always receive an additional 30% in risk-free bonus funds over and above your initial deposit.
Additionally, InstaForex offers a wide range of contests and challenges where you can only take part and win if you have a demo account. Here you will find many physical prizes, such as cars, money, and more.
Likewise, RoboForex offers bonuses and promotions to its traders as another respected top broker. Bonuses here start with a matching deposit bonus, which can range from 10% to 60% to a whopping 120% for deposits over $200.
RoboForex does not stop there with its offers. A welcome bonus of $30 will be yours as soon as you join the broker. Hence, this allows you to trade effectively on any market of your choosing without any risks.
On both demo and live accounts, you can also take part in free weekly and daily contests with the chance to win real prizes. In addition, regular traders also benefit from cash rebates, which can reach up to 15% based on their trading volume.
HotForex is one of the industry’s cornerstones and appears regularly as a top broker. Although not every country has the same bonus infrastructure, they are also powerful. Europe is an example of this.
However, aside from that, they have a firm offer in addition to the 100% credit bonus. You will get to double your money when you use this bonus. Hence, the broker also offers an exceptional 30% rescue bonus.
Up to $7,000 is protected from withdrawals with this bonus. Their most popular promotion is the 100% Supercharged Bonus. With this offer, you can get up to $8,000 in cash rebates, on top of a 100% bonus.
HotForex has these great features, making it one of the most popular bonus brokers.
OctaFX is another name that has been growing in the sector. But they aren’t backing down either when it comes to bonuses. Try out some demo account contests if you are trading with this broker.
If you are using Metatrader, you can win up to $500 in actual cash, and if you are using cTrader, you can win up to $150. Once you’re interested in these, you can choose to deposit real money and take advantage of a 50% deposit bonus.
Additionally, there are several prizes, including merchandise to be won from a broker that is strengthening, trusted, and growing every day.
A quick guide on different types of bonuses
A few different types of bonuses offered by the brokers are:
In addition to the fact that there are many different types of forex bonuses available, it is also essential to keep that in mind when selecting your bonus. Here is a more detailed explanation of precisely what brokers offer in terms of bonuses:
1. Forex deposit bonus
You receive a bonus based on your deposit amount when you receive the forex deposit bonus. In many cases, the bonus will equal the deposit amount.
2. Forex no deposit bonus
From the name, you can expect that a forex no deposit bonus is a bonus that does not require a deposit on your part. Registration is usually all that is required. You can trade in real-time without risking your own money with this money.
3. Welcome Forex bonus
Welcome bonuses are similar to no deposit bonuses. However, as soon as you complete registration, you may receive a bonus amount depending on your first deposit amount.
4. Loyalty Program
Like all loyalty programs, forex broker programs are generally based on how much you use their services. Therefore, you will be rewarded based on how much you trade in such a case. Lower trading costs, access to live events and meetings, physical prizes, or lower trade costs could all be included in these rewards.
5. Points System
Loyalty programs can also be used in forex broker point systems. You earn points by trading more in these systems. As a result, the points can be redeemed for prizes such as money, cars, and vacations.
6. Cash Back and Rebates
In addition to cashback and rebate programs, there are also many other forms of bonuses. As its name implies, you earn money for every lot you trade through this form of bonus.
7. Money Protection Bonus
Forex broker bonuses like this are not very common, but they exist nonetheless. By receiving a bonus from your broker, you can protect your funds from going negative, and if they do, you will get your money back.
8. Forex Contest Prize
With the help of virtual funds, you can compete with other traders through a wide range of brokers. In some contests, you can win prizes such as cash, cars, and other fantastic items by making the most money from virtual money.
The bonus is just one component of choosing a forex broker, and it shouldn’t play an essential role in your decision. Choosing a well-regulated and trustworthy broker is paramount. All of our brokers are both well-regulated and trustworthy.
After that, you can decide whether to take the broker bonus, but you shouldn’t base your decision solely on the broker bonus.
All of your trading needs must play an important role. Trying out a broker may be the best option in this case. Choosing a no deposit bonus broker at this time would allow you to try out their real trading platform at no risk to yourself.
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Heinrich is a forex and CFD enthusiast with a passion for writing good informative quality content. He strives to showcase the best forex brokers in Africa. Join him on his Journey!
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