Best Deposit Bonus Forex Brokers 2018
As the regulators’ requirements get stricter over time, fewer brokers are able to offer promotions like the Forex Deposit Bonus. In order to save you the legwork for searching out the brokers that still offer it, here we have compiled a list of the very best Deposit Bonus Forex Brokers.
Introduction: What is a forex deposit bonus?
A forex deposit bonus is an award of extra trading capital into a traders account, by the forex broker, as soon as the trader makes the first deposit into the forex account. The forex deposit bonus is therefore not free cash from the broker, but is only a form of margin lending to traders to enable them to increase their trade volumes. An example of a Deposit Bonus is when a broker gives a percentage of the trader’s deposit into the account eg. 30% of the deposit amount.
The forex deposit bonus can only be withdrawn when the trader has satisfied certain volume trading requirements as laid out by the broker.
What should I do to get my bonus?
There are various ways that forex brokers award forex deposit bonuses.
- Some brokers may have pre-defined bonuses, which are awarded as a percentage of the account deposit. All the trader needs to do here is to choose the account type, make the deposit into the trading account and the bonus is awarded automatically.
- Some forex brokers require traders to secure their bonuses by signing up for a trading account through affiliate partners. The forex deposit bonuses awarded using this method are usually special bonuses, which cannot be obtained directly from the broker’s website.
- There are brokers which require the trader to negotiate the bonus awards with their account officers.
What is the Difference Between No Deposit Bonuses and Deposit Bonuses?
Forex deposit bonuses usually require some deposit to be made into the trading account before the bonus is unlocked. Forex no-deposit bonuses however do not require the trader to make an initial deposit before the bonus is given.
Forex deposit bonuses are typically larger in size than the forex no-deposit bonuses.
What Other Bonus and Promotion Types Do Brokers Offer?
Forex deposit bonuses are usually given when the first deposit is made by a new trader into the account. But there are other bonuses and promotions that may be given out from time to time.
- A forex re-deposit bonus is a bonus that is provided to traders who reactivate dormant trading accounts by depositing additional funds. This category of traders is made up of those who may have blown their accounts in trade losses, or who simply left off trading for a long time. Brokers need the income from spreads generated by trades of their clients, so it is in their interest to see their clients trading. To incentivize these traders to resume trading, they are given a forex deposit bonus if they go ahead to make a re-deposit.
- Some brokers provide what is known as the cashback bonus. A cashback bonus is not a deposit bonus per se, but rather a system of returning the capital invested and lost in the first few trades a new trader performs on the forex platforms. This is usually provided to new traders only and is limited to the first 5 trades placed on the forex platform.
Here is our list of the best forex deposit bonus brokers for 2017. Remember, bonuses are to be used wisely.
- New Zealand
- South Africa
- South Korea
- Hong Kong
- United Arab Emirates
- Russian Federation
List of Brokers
|BROKER||USER RATING||REGULATED BY||HEADQUARTERS||MIN. DEPOSIT||OFFICIAL SITE|
|ASIC, CySEC, FCA||Israel||$100||Open Account|
|ASIC, BVI, FSA(JP), FSB, MiFID||Ireland||$100||Open Account|
|ASIC, CySEC, FCA||Cyprus||$200||Open Account|
|CySEC, FSB||Cyprus||$100||Open Account|
|BaFin, FCA||United Kingdom||$300||Open Account|