Forex brokers offer a variety of bonus programs.
You can get it just by opening an account, or you can double the margin when you make a deposit.
By making good use of bonuses, you can start trading without risk and aim for larger profits.
There are pros and cons to the bonuses of forex brokers.
There are detailed conditions for withdrawal, and as a result sometimes it is not very usable.
I personally am a bonus affirmative.
My policy is, “Get what we can get!”.
Certainly, there are some that are not easy to use, and some that do not make much sense, but I will clearly tell you that I do not recommend those that I do not recommend.
In this article, I will compare the contents of each broker that offers bonus programs among the brokers I introduce, and introduce the brokers that I recommend from the viewpoint of bonuses in a ranking format!
Please see here for a list of forex brokers and comparative articles introduced in this blog.
Let’s get started!
- Forex Broker Bonus Types
- How Bonuses are Treated
- Forex Broker Bonus List
- Non-Deposit Bonus Ranking
- Deposit Bonus Ranking
- Other Bonus and Campaign Ranking
- Other Bonus and Campaign Ranking 1st : HotForex
- Other Bonus and Campaign Ranking 2nd : iFOREX
- Other Bonus and Campaign Ranking 3rd : XM
- Other Bonus and Campaign Ranking 4th : HotForex
- Other Bonus and Campaign Ranking 5th : FBS
- Other Bonus and Campaign Ranking 6th : TMGM (TradeMax)
- Other Bonus and Campaign Ranking 7th : LAND-FX
- Summary
Forex Broker Bonus Types
It is classified as follows.
- Non-deposit Bonus
- Deposit Bonus
- Other campaigns, etc.
Non-deposit bonus, sometimes it’s called account opening bonus.
Non-deposit bonus is a bonus type that you can get when you open an account.
Deposit bonus, a certain percentage of the amount will be added as a bonus according to the deposit amount.
Campaigns, brokers offer various campaigns. Some are for a limited time.
How Bonuses are Treated
Many bonuses put into the credit frame rather than cash (balance).
Margin required for trading is calculated by balance (cash) + credit. In other words, if you get a bonus, your margin will increase, so you can aim for a bigger profit with the same funds.
Entering the credit limit is not a profit, so there is no tax on the bonus earned.
Regarding withdrawals, you cannot withdraw bonus itself because it is a credit, but you can withdraw the profits obtained by using the bonus.
In other words, you can trade without risk.
Each broker has detailed rules regarding withdrawals, so please check them on their official website.
Forex Broker Bonus List
I summarized it in a list.
| Non-Deposit Bonus | Deposit Bonus | Others | |
|---|---|---|---|
XM | $30 | 50%/20% (Max $5,000) | XM Point (Cash Back) |
FXGT | – | 50%/20% (Max $500/$70,000) | – |
FBS | $100 *No longer available | 100% (Max $10,000) | Cash Back |
GEMFOREX | – | – | – |
HotForex | – | -50%(Max $1,000) -30%(Max $7,000) | – Cash Back (2 types) – Loyalty Program |
TitanFX | – | – | – |
LAND-FX | – | 10% (Max $3,000) | Recovery Bonus (Cash Back) |
Axiory | – | 50% (Max $5,000) *Dec,2020 – Mar,2021 | – |
Tradeview | – | – | – |
iFOREX | – | – | 3% Interest |
TMGM | – | 10% (Max $10,000/Q) | Gift Program |
From here on, I would like to introduce each bonus type in a ranking format in the order of my recommendation.
- Non-deposit bonus ranking: 1st to 2nd
- Deposit bonus ranking : 1st to 6th
- Other bonus and campaign ranking : 1st to 7th
The ranking is based on my own judgment and prejudice.
Let’s see the ranking!!
Non-Deposit Bonus Ranking
First is Non-deposit bonus.
Actually, there aren’t many brokers that offer it.
Non-Deposit Bonus Ranking 1st : XM
The 1st place is XM.
The amount of the bonus is not so large at $ 30, but there is not much limit.
You can trade for just $ 30 even if you haven’t deposited.
In other words, there is NO RISK.
Moreover, if you make a profit, you can withdraw the full amount of profit.
After upload your identity verification documents, you can receive $30 bonus once the verification is complete.
Please note that it is not automatically transferred and you need to make a request from the member page.
Don’t forget to request.
For more information, please refer to separated article, “XM Bonuses and Promotions Review“.
>>Check Non-Deposit Bonus on XM Official Website
＼Just 3 minutes!!／
Non-Deposit Bonus Ranking 2nd : FBS
*As of January 2021, Trade 100 Bonus is no longer available.
The 2nd place is FBS.
Like XM, FBS offers account opening bonus. The amount is $100.
It sounds good to hear this much, but it’s actually not very easy to use.
The FBS non-deposit bonus can only be used with only Trade 100 Bonus MT5 account dedicated to non-deposit bonus.
When you open it, you already have $ 100 in your account. There are detailed rules, but you can withdraw profits for the time being.
The biggest condition is that this account is for a limited time and will automatically disappear after the period expires.
Other conditions are as follows.
- Expiration date 50 days
- Required trading days is 30 days and more
- Required trading lots is 5 lots and more
- Withdrawal of profit is up to $ 100
In other words, if you do not trade for 30 days or more (about 2 months excluding Saturdays, Sundays, and holidays), profit withdrawal will not be allowed even if you make a profit.
If you have that much time, it’s better to open a real account.
Think of it as an account for forex beginners to study trading with real money or to check the usability of FBS.
Please check the official website for details.
For more information, please refer to separated article, “FBS Bonus Program Review“.
>>Check Non-Deposit Bonus on FBS Official Website
＼Just 3 minutes!!／
Deposit Bonus Ranking
Next is the ranking of deposit bonuses.
There are many brokers that offer this, and there is a considerable difference in the maximum amount.
Deposit Bonus Ranking 1st : FXGT
The 1st place is FXGT.
FXGT bonuses change every month for a limited time as promotion.
As of March 2021, FXGT is offering a bonus of 50% of the deposit amount at the first deposit and 20% after the second deposit.
(Until a while ago, the first time was 100%)
The maximum amount is $ 70,500 in total. It’s amazing!
Let’s use it well.
For more information, please refer to separated article, “FXGT Bonus Program Review“.
>>Check Deposit Bonus on FXGT Official Website
＼Just 3 minutes!!／
Open an Account
Deposit Bonus Ranking 2nd : FBS
The 2nd place is FBS.
Non-deposit bonus is not very good, but FBS offers quite good deposit bonus.
A 100% bonus will be given to the deposit amount.
The maximum amount is $10,000, which is exceptional. Moreover, it can be applied as many times as you like until your deposit reach the upper limit.
Some brokers only offer one-time deposit bonus,, but FBS deposit bonus can be used as many times as you like until you reach the upper limit.
In other words, if you deposit $10,000 totally, the final margin will be $20,000. This is quite big!
Please note that the applicable account is MT4 only, and ECN account is not applicable.
Only for Cents, Standard, Zero spreads and Micro accounts.
In addition, there are detailed rules such as the stop out level is calculated excluding the bonus amount, and the bonus disappears when the account balance becomes 30% or less of the bonus amount.
For more information, please refer to separated article, “FBS Bonus Program Review“.
>>Check Deposit Bonus on FBS Official Website
＼Just 3 minutes!!／
Deposit Bonus Ranking 3rd : XM
The 3rd place is XM.
You can get a total deposit bonus of up to $ 5,000.
You will receive a 50% bonus on your deposit until you reach the first $ 500, and a 20% bonus on your deposit until you reach $ 5,000 thereafter.
Compared to FBS, the maximum amount is $ 5,000, lower than FBS, but there is no limit to the number of deposits same as FBS.
You will definitely get it until you reach $ 5,000.
For more information, please refer to separated article, “XM Bonuses and Promotions Review“.
>>Check Deposit Bonus on XM Official Website
＼Just 3 minutes!!／
Deposit Bonus Ranking 4th : HotForex
The 4th place is HotForex.
HotForex has also launched various campaigns for a limited time.
As of this writing, HotForex is offering a deposit bonus called the 30% Rescue Bonus.
When you deposit, you will get a 30% bonus. A minimum deposit of $ 50 or more. It is a one-time application.
The limit is $ 7,000.
Please note that the bonus itself cannot be withdrawn. Also, if you lose more than the deposit amount, the bonus will disappear.
With regard to the deposit bonuses of other brokers, even if the deposit amount is lost, the bonus amount remains as credit and trading can be continued. XM is so.
But in the case of HotForex, it will be a forced stopout at that point. It’s strict.
So, you can think of it as a way to increase the margin by 30% of the deposit amount while there is no loss.
Please refer to the following official website and related articles for detailed conditions such as applicable accounts.
For more information, please refer to separated article, “HotForex Bonus Program Review“.
>>Check Deposit Bonus on HotForex Official Website
Deposit Bonus Ranking 5th : LAND-FX
The 5th place is LAND-FX.
LAND-FX offers a 10% deposit bonus, but to be honest, it’s not very user-friendly.
10% cash back for deposits over $ 3,000.
However, it is applicable only once.
In addition, cashback has a certain amount of trading conditions.
This is also a fairly high hurdle.
To be honest, I don’t really recommend this bonus.
LAND-FX sometimes offers limited-time promotions, so check out the official website.
For more information, please refer to separated article, “LAND-FX Bonus Program Review“.
>>Check Deposit Bonus on LAND-FX Official Website
＼Just 3 minutes!!／
Deposit Bonus Ranking 6th : TMGM (TradeMax)
The 6th place is TMGM (TradeMax).
TMGM offers deposit bonus.
10% deposit bonus will be given to the deposit amount.
Bonuses are given as credits and the bonus itself cannot be withdrawn, but profits can be withdrawn.
While deposit bonuses in other brokers are granted when you deposit, in TMGM only granted after you have cleared the prescribed transaction volume after depositing.
Prior application is required for application.
>>Check Deposit Bonus on TMGM Official Website
＼Just 3 minutes!!／
Other Bonus and Campaign Ranking
From here on, I will introduce the bonuses and campaigns that each broker offers independently in a ranking format.
Unlike non-deposit bonus and deposit bonus, it is not something that can be evaluated uniformly based on the applicable conditions, but the ones that are attractive due to my own judgment and prejudice are listed first!
Other Bonus and Campaign Ranking 1st : HotForex
The 1st place is HotForex “Rebates” program.
It is a cashback service according to the transaction volume.
It seems that many people don’t know much about it, but it doesn’t require any application to apply, and it’s quite attractive.
To summarize the conditions,
- Deposits $ 250 or more
- Applies to only one account per customer
- Maximum cashback is $ 8000
- For each positions of 0.1 lot or more
- Applicable products are currency pairs and gold
- Automatically calculated each time a position is closed
- $ 2 cashback per one lot
- Rebates 0% for transactions within 1 minute, 50% for transactions within 2 minutes, 100% for transactions over 2 minutes
- Pay daily (starting at $ 5)
In other words, it will be applied after depositing $ 250 or more, and will accumulate before you know it while you are trading.
Also, unlike other bonuses, it is cash back, so you can withdraw the full amount regardless of profit.
Cashback requirements are not very strict. Please note that this does not apply to scalping in a very short time.
The more you trade, the more cash you get back, so this is one of the main reasons for choosing HotForex as a broker.
For more information, please refer to separated article, “HotForex Bonus Program Review“.
>>Check Campaign on HotForex Official Website
Other Bonus and Campaign Ranking 2nd : iFOREX
The 2nd place is iFOREX “3% Interest” program.
This is quite unique.
It is a cashback service that grows big depending on how you use it.
You will receive an annual interest rate of 3% on the amount deposited (effective holding amount).
There are some conditions, such as holding $ 1000 or more and trading even once within 30 days, but I think it is not difficult to clear.
Interest is calculated monthly.
While clearing the conditions, 3% will be cashed back every month.
The maximum effective holding amount is $ 150,000, so it will be a considerable cash back for those who have enough funds.
This is pretty attractive!
For more information, please refer to separated article, “iFOREX Bonus Program Review“.
>>Check 3% Interest Program on iFOREX Official Website
＼Just 3 minutes!!／
Other Bonus and Campaign Ranking 3rd : XM
The 3rd place is XM “XM Loyalty” program.
XM has a point program that accumulates points called XM points (XMP) for each trade.
Traders have ranks according to their status, starting with EXECUTIVE and then increasing to GOLD, DIAMOND, and ELITE.
The condition for rank up is the number of trading days, and the rank will automatically rise as you continue trading.
The accumulated points can be cashed back at a conversion rate of XMP / $ 3.
No special registration application is required and it applies to all traders. If you trade, it will naturally accumulate, so please make use of it.
For more information about XM Loyalty Program, please refer to separated article, “XM Loyalty Program | How to Utilize XMP“.
>>Check XM Loyalty Program on XM Official Website
＼Just 3 minutes!!／
Other Bonus and Campaign Ranking 4th : HotForex
The 4th place is HotForex “Royalty” program.
HotForex is the second appearance in other campaign rankings.
In addition to the self-rebate program mentioned above, HotForex has a point program called the loyalty program.
Points called “Hot Forex Bars” are accumulated according to the trading volume and can be exchanged for various products and services including cash back.
For all traders, it starts with a rank called Red, and as the number of trading days increases, the membership rank goes up to Silver, Gold, Platinum.
The number of bars you can get depends on your membership rank.
You can get 6 bars per lot for red and 12 bars for platinum.
The accumulated HF bar (points) can be exchanged for various services such as cash back, free use of VPS, and 1 hour free session with a dedicated analyst of HotForex.
>>Check Loyalty Program on HotForex Official Website
Other Bonus and Campaign Ranking 5th : FBS
The 5th place is FBS “Cashback” program.
You can receive up to $ 15 cashback per lot, depending on your trading volume.
The cashback amount will vary depending on the account type and currency pair to be traded.
For example, USDJPY for a standard account is $ 2 per lot, and GBPJPY is $ 3.
The upper limit is $ 570. There are no withdrawal conditions.
Just by trading, you will be cashed back before you know it. It’s a great deal. Please make use of it.
The cashback amount for each product traded on the official website is published. Please check the official website for details.
>>Check Cashback program on FBS Official Website
I’ve summarized FBS cashback in another article, “How to get FBS Cashback“.
This shows also how to activate cashback.
Please refer to it.
＼Just 3 minutes!!／
Other Bonus and Campaign Ranking 6th : TMGM (TradeMax)
The 6th place is TMGM “Gift Exchange” program.
Various gifts are available for each deposit amount.
The image is part, there are others. It will be renewed on each period.
For some gift such as Airpod and iPhone, it is necessary to clear the specified transaction volume in addition to the deposit amount.
You can get supplements etc. by clearing only the deposit amount.
The transaction volume will be counted after you apply by email, so don’t forget to apply in advance.
＼Just 3 minutes!!／
Other Bonus and Campaign Ranking 7th : LAND-FX
The 7th place is LAND-FX “Recovery Bonus” program.
When a stop out occurs, 5% of the initial deposit will be cashed back. Not of the amount of loss.
This also requires certain conditions and an application is required.
Personally, I don’t think it’s an easy-to-use bonus, so I don’t recommend it very much.
Of course, it’s better not to get stop out, and I don’t think this bonus is the number one reason to choose LAND-FX.
It’s a bonus program that you don’t have to be aware of, but please check the official website for the time being.
For more information, please refer to separated article, “LAND-FX Bonus Program Review“.
>>Check Recovery Bonus on LAND-FX Official Website
＼Just 3 minutes!!／
Summary
How was it?
Each bonus has some points that must be cleared, such as applicable conditions, but by making good use of it, you can reduce the risk and trade, or aim for a larger profit.
Also, regarding non-deposit bonus, you can practice trading without risk while using a real account.
Please make use of it!!
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