A trader cannot independently trade on the international currency market, therefore all operations are carried out through a broker acting as an intermediary between the trader and the interbank market. Obviously, the success of each trader largely depends on the broker, because it is the broker who determines the trading conditions, the list of available instruments, additional bonuses, etc. That is why it is so important for beginners to choose a Forex broker, guided by a list of criteria that allow them to start trading at the maximum advantageous and convenient conditions.
Below you can check out the Top 5 Forex Brokers with Bonuses 2023, which are ideal for both newbies and more experienced traders.
What is a forex bonus?
Many brokers use various marketing tools to attract new clients. The most common attraction method is bonuses. They are special offers for clients who, in one way or another, improve trading conditions in financial markets.
In most cases, getting a bonus is not so difficult and for this it is enough to fulfill a few simple conditions. For example, go through registration and verification or make the first deposit.
Bonuses also have their target audience, and most often these are novice traders, as well as users with a small deposit. The bonus is just a way to get additional free funds for trading. The bonus policy is also aimed at more experienced traders, since brokers need not only to attract new customers, but also to keep old ones. This is a way to maintain customer loyalty.
TOP forex brokers with bonuses
Below you can get acquainted with the main forex brokers that provide nice bonuses to their clients. Among them there are both popular brokers that have been on the market for more than 15 years, as well as those that have appeared relatively recently. But each presented company is the best bonus brokers.
|Broker||Bonus||Amount||Main conditions for receiving|
|RoboForex||Welcome bonus||120% on the first deposit or up to 50000 USD||Opening an account with RoboForex and verifying your account is mandatory
Get up to 120% bonus for deposits
|DotBig||Welcome bonus||10% on the first deposit||Opening an account with DotBig and verifying your account
Get up to 10% bonus for deposits
|ICMarkets||Welcome bonus||$100||Open a real account;
Replenish your account with any amount
|Exness||No deposit bonus||$20||Register an account;
Complete the verification of personal data in the Personal Account;
Go to the Promotions section in your Personal Account and get a bonus.
|FXTM||Welcome bonus||100% on the first deposit||Opening an account with FXTM and verifying your account
Get up to 100% bonus for deposits
How to get a DotBig broker bonus
At this point, you need to talk about how to get a bonus or how it is possible to get it in principle, and what it gives the client.
Broker DotBig offers the simplest conditions for receiving bonuses. It is worth noting that the welcome bonus is designed for new customers, primarily for novice traders.
Its essence is that after registration and replenishment of the account, the trader can receive bonus funds in the amount of 10% of the deposit amount. The broker has certain restrictions on the amount of replenishment. Here is a step-by-step instruction on how to get a small bonus:
- Register on the broker’s website.
- Pass verification – it takes from 15 minutes.
- Top up your account in the amount of 100 to 500 dollars.
- Activate the bonus.
Bonus funds will be credited to the corresponding account and in order to withdraw them, additional conditions must be met. In order to withdraw bonus funds to DotBig, you need to open trades until the total number of lots exceeds a certain amount. DotBig offers one of the best bonus forex.
Can I withdraw the bonus to my account?
Many clients are interested in one important issue regarding bonuses, namely the withdrawal policy. In most cases, the funds accrued as part of the bonus offer are not available for withdrawal unless special conditions are met. The only exceptions are those bonuses that are accrued under the cashback program, affiliate programs, rebate, and so on.
As for no deposit bonuses, % of the deposit, etc., they are credited to a separate account. For their withdrawal, several conditions must be met. Most often, such bonuses can be used to participate in lots. Brokers can incentivize trading using bonus funds and a certain number of lots.
In addition, some brokers offer bonuses without the possibility of withdrawing to a real account. But they can be actively used when concluding transactions and increase the margin.
The main types of forex broker bonuses
Depending on the conditions for providing forex bonuses, they are divided into three large groups:
- No deposit bonuses – can be received without the need to deposit funds;
- Forex bonuses to the deposit – provided for replenishment of the account for a certain amount;
- Welcome bonuses are designed for new customers and are usually awarded on the first deposit.
These are the three main types of bonuses, which we will discuss in more detail.
However, brokers may use other promotions for promotional purposes:
- Cashback is a return of part of the funds spent on trading. For example, from commissions and losing trades;
- Rebate – return of part of the spread;
- Reload Bonus – reward for regular deposit replenishment.
Pros and cons of bonuses from brokers
Brokers with bonuses are of interest to many users, but are the bonuses so useful? This is where the opinion differs, since broker bonuses have both advantages and disadvantages. Each company offers its clients to use this or that bonus forex or refuse it. Before agreeing to a special offer, it is necessary to weigh all the benefits and risks.
|Opportunity to get additional funding for traders with a small deposit
The ability to trade without replenishing the account (for a no deposit bonus)
Bonuses can be used to compensate for losses incurred by the trader after opening an unsuccessful trade.
Bonuses allow you to increase the margin, that is, to make an additional profit per trade.
|Many bonuses are very difficult to get because of the tough conditions.
Many companies prohibit withdrawing bonus funds until certain conditions are met
Using bonus funds can arouse greed and stimulate emotional trading.
Bonuses often restrict traders’ freedom of action during trading.
DotBig LTD offers a small bonus, but with the most favorable conditions for real account withdrawal. In addition, the bonus funds from the broker can be used to participate in transactions, increasing the margin. You can use the bonus with any DotBig investments and try using them in new strategies.