Best Forex Deposit Bonuses in April 2024 Review

This bonus review was updated and republished here.

Hey there! Let me tell you about a game-changer in the forex world: deposit bonuses. These little boosts can work wonders for your account balance, giving you more wiggle room to maneuver and reducing your overall risk. Picture it like adding extra fuel to your trading engine.

Now, not all forex deposit bonuses are created equal. It’s like picking the juiciest fruit from the tree, you want to make sure you’re getting the best deal possible. That’s where I come in. I’ve done the legwork, sifted through the fine print, and uncovered the 8 best forex deposit bonuses from reputable brokers in April 2024.

With my forex bonus review, you’ll discover the cream of the crop, the deposit bonuses that serious traders like yourself don’t want to miss out on. So, if you’re ready to supercharge your trading account, let’s dive in and find the best broker with a forex deposit bonus for you.

8 best Forex deposit bonuses 2024

I’ve put together a study and comparison list of the top Forex deposit bonuses for April 2024 to assist you in making wise choices. Name, quick broker review, bonus type, bonus amount, and bonus claim link are all included in the list. The list is as follows:

1. FBS broker -> Open an Account

Deposit Bonus: 100% from Deposit.

Short review of broker: FBS is a well-established international services provider that offers its services in 150+ countries across the globe. Notable features on offer from FBS include Safe Deposits and Withdrawals via 200+ Trusted Options, Fast Executions + Spreads from 0 Pips, and 24/7 Customer Support in 18 Languages.
FBS offers access to a 100% Bonus with an unlimited trading period and bonus amount. The FBS 100% Bonus will be automatically credited to the trader’s account upon request. FBS offers a loyalty program to all active traders. The Loyalty program works on a Points for Rewards system. Traders will earn points for trading which can then be exchanged for a wide range of prizes such as Cash, Private coaching sessions, and more.

Do not forget that your capital is at risk. 77.74% of retail investor accounts lose money when trading CFDs.

2. Forex4you broker -> Open an Account

Deposit Bonus: 100% of every deposit from $200.

Short review of broker: Forex4You is a popular broker choice thanks to its impressive range of promotional offers. Other notable features include Swap-Free Accounts, Free Market Analysis, and Super Fast Order Execution. Forex4You offers access to an up to 100% Deposit Bonus. To claim the bonus, traders must select the level (5% — 100%) at the time of funding their trading account. However, the higher the bonus percentage level chosen, the larger the trading turnover the trader must have on their account. Traders can select to become a part of the Forex4You cashback program. When traders switch their real accounts to the Casbcack account option, they can earn up to $8 back per lot on EUR/USD trades.

Do not forget that your capital is at risk. 77.74% of retail investor accounts lose money when trading CFDs.

3. RoboForex broker -> Open an Account

Deposit Bonus: a 50% deposit bonus and a “Classic bonus” program that offers up to 120% bonus on deposits.

Short review of broker: RoboForex is a trusted financial services provider with a long list of notable features, including Tight Spreads, Fast Order Execution, and Advanced Copy Trading. The RoboForex Classic Bonus is structured as a +25% — +120% Offer of up to $50’000. The RoboForex Classic Bonus is made available across all RoboForex standard and cent accounts. To claim the Bonus, traders must select the Bonus and the preferred percentage amount when making a deposit into their account.
The RoboForex Profit Share bonus is an additional bonus on offer. The RoboForex Profit Share bonus is available on the MetaTrader 4/MetaTrader 5-based cent or standard accounts. To claim the Bonus, traders must select the “Profit Share Bonus” option when making a deposit into their account.
Furthermore, a $30 Welcome Bonus is offered to new traders who open a New live trading account and make a minimum deposit of $10.

Do not forget that your capital is at risk. 77.74% of retail investor accounts lose money when trading CFDs.

4. Amarkets broker -> Open an Account

Deposit Bonus: a 25% deposit bonus, a “Double your deposit” bonus, and a “Cashback” bonus.

Short review of broker: AMarkets is a trusted Services provider that offers access to hundreds of assets, regular bonus offers and promotions, Spreads from 0.2, and, order execution from 0.03 sec. AMarkets offers access to a Double Your Deposit with a bonus amount of up to $10000. Bonus is paid in the form of non-withdrawable credits but will become available for withdrawal after reaching the required level of trading turnover. AMarkets offers a 20% Bonus Offer to traders who switch their accounts over to the broker. Furthermore, Standard and Fixed USD and EUR accounts in the MT4 and MT5 platforms can participate in the AMarkets loyalty program — receiving cashback for their trading activity in currency pairs and metals.

Do not forget that your capital is at risk. 77.74% of retail investor accounts lose money when trading CFDs.

5. XM broker -> Open an Account

Deposit Bonus: up to $5000.

Short review of broker: XM is a well-established Forex Broker that offers its services to over 10,000,000 clients in 190 Countries across the globe. XM does offer a No-Deposit bonus of $30 for specific regulated entities. A Trader does not need to deposit to earn a deposit of $30. The XM sign-up bonus is structured as a $30 Welcome Account. Additional Bonus Offers made available by XM include A 50% Deposit Bonus with a Deposit Bonus of Up to $500 and a 20% Deposit Bonus with a Deposit Bonus of Up to $4500. Additionally XM, on occasion, makes Promotions and Competitions available.

Do not forget that your capital is at risk. 77.74% of retail investor accounts lose money when trading CFDs.

6. SuperForex broker -> Open an Account

Deposit Bonus: 50% Welcome Bonus, 300% Hot Bonus, 75% Energy+ Bonus, 3000% Easy Deposit Bonus.

Short review of broker: SuperForex can be summarised as a trustworthy broker with a low-spread offering and a user-friendly trading app. SuperForex makes a wide selection of additional Bonus offers available, including:
— A 50% Welcome Bonus on Each Deposit
— A 300% Hot Bonus on Each Deposit
— A 75% Energy+ Bonus on Each Deposit
— A +$750 USD Deposit Bonus called the 3000% Easy Deposit Bonus.
SuperForex does offer a No Deposit Bonus of $88 upon opening a new SuperForex live trading account. No deposit is needed to earn a $88 Sign-up bonus. A second $99, $10 deposit bonus is additionally made available.

Do not forget that your capital is at risk. 77.74% of retail investor accounts lose money when trading CFDs.

7. Weltrade broker -> Open an Account

Deposit Bonus: 50–120% for Deposit. Maximum deposit bonus sum — 40000$.

Short review of broker: Weltrade is an international broker. It has been in operation since 2006 and has offices in 18 countries that serve over 100,000 traders worldwide.

Do not forget that your capital is at risk. 77.74% of retail investor accounts lose money when trading CFDs.

8. InstaForex broker -> Open an Account

Deposit Bonus: 35–100% from Deposit.

Short review of broker: InstaForex is a leading service provider with over 16 years of experience in the financial markets. Notable features on offer from InstaForex include 300+ Trading Instruments, Cryptocurrency trading, and Deposit Bonus Offers. InstaForex offers access to a “double your deposit” option of up to $2000. The InstaForex 100% Bonus is made available to both first-time participants and account holders, either as a welcome bonus offer or replenishment option.

Aside from the InstaForex 100% Deposit Bonus traders can select from 55% or 30% Bonus Options. The 55% Bonus option is made available on all deposits made whereas the 30% Bonus is structured as a Welcome Offer on all new live trading accounts opened.

Do not forget that your capital is at risk. 77.74% of retail investor accounts lose money when trading CFDs.

About Forex deposit bonuses

Let me break it down for you. So, what’s the deal with these bonuses? Well, they’re sweet offers from Forex brokers where they toss some extra cash into your account. It could be a fixed amount or a percentage of your deposit, giving you more ammo for your trades.

Now, here’s the lowdown on how these bonuses work. They usually come in the form of trading credits, which you can use to beef up your margins or open new trades. But, here’s the kicker: each broker has their own rules for withdrawals, so it’s essential to read the fine print before jumping in.

But are these bonuses all sunshine and rainbows? Not quite. Let’s weigh the pros and cons. On the bright side, they’re a boon for traders with small deposits, offering extra trading opportunities without shelling out more cash. Plus, if you hit a rough patch, these bonuses can cushion your losses.

But, there’s a flip side. Some brokers slap on conditions that might not sit well with everyone. And forget about cashing out those bonus bucks until you meet their criteria. Plus, there’s the risk of getting swept up in emotional trading, especially for newbies, which could spell trouble for your bottom line.

Now, onto other types of Forex deposit bonuses. First up, we’ve got the classic deposit bonus, where brokers sweeten the pot with each deposit you make. Then there’s the Welcome bonus, a little something extra for joining the club. Last but not least, the elusive no-deposit bonus, where brokers hand you cash on the house to kickstart your trading journey.

So, there you have it. Ready to dive into the world of trading with a little extra firepower of deposit bonuses? So, I’ll give some important information below.

Trading Strategies for Maximizing Deposit Bonuses

100% deposit bonuses offered by forex brokers might be alluring since they double a trader’s trading capital.
The extra money might be utilized to sensibly enlarge a trading portfolio or increase holdings. However, in order to fully benefit from these extra advantages, prudent risk and debt management techniques are required.

Leveraging Bonuses Effectively

• Experimentation with New Strategies: A forex deposit bonus might serve as a safety net for experimenting with different trading strategies without jeopardizing the trader’s initial capital. This could involve testing using different time frames, technical indicators, or even trading robots. It is preferable, though, to test these techniques on a trial account before applying them to real transactions.
• Strategic Position Sizing: Trades with larger position sizes may be made by traders using the extra money from deposit bonuses. But, it’s imperative to resist the temptation to raise leverage just because there are more money accessible. Determining the ideal position size based on the volatility of the currency pair and the trader’s risk tolerance is essential to effectively utilizing leverage.
• Diversification: You can diversify your transactions with a 100% deposit incentive without having to use additional personal funds. By spreading the bonus across multiple currency pairings or trading strategies, traders can reduce the amount of risk they take on. As a risk management strategy, diversification makes sure that losses on one transaction are offset by gains on another.

Risk Management Techniques

• Continuous Monitoring and Adjustment: Because of the volatility of the forex market, trading conditions can change rapidly. Traders need to be ready to adjust their strategies in response to changes in the market and regularly assess their positions. This entails reevaluating the effectiveness of take-profit and stop-loss orders and adjusting as necessary to account for shifting market conditions.
• Applying Stop-Loss and Take-Profit Orders: Two important risk management techniques used in forex trading are stop-loss orders, which restrict potential losses, and take-profit orders, which guarantee gains at predetermined levels. When trading with leveraged funds, these precautions — especially the 100% deposit bonus — are crucial since they protect the trader’s balance from significant market fluctuations.
• Managing Leverage Wisely: A deposit bonus increases a trader’s capital, but using too much leverage can increase earnings and losses. Given the rising volatility of the forex market, traders ought to exercise caution while using leverage. A conservative strategy can involve leveraging only a portion of the bonus rather than the entire amount in order to maintain control over risk exposure.

Rules of forex brokers

Before receiving a forex deposit bonus, it is crucial to review the broker’s trading credit withdrawal policy. Most of the time, after the special promotion is activated, the brokers restrict the amount of money that may be withdrawn. As a result, the businesses make an effort to stop fraudulent registrations meant to receive bonuses. As a result, you must examine the terms beforehand and choose whether they are appropriate for you.

Trading volume and withdrawal terms set by brokers are related. The money can be moved from the bonus account to the live account using one of three popular ways.

The companies may require an increase of the amount to a specific value before it becomes available for withdrawal. For example, if the company has x6 required for the trading volume, you will need to ‘turn’ the USD 100 bonus into USD 600.

Turnover by the number of trading lots

The brokers are interested in their clients trading as much as possible. Therefore, they often set requirements for lots. For example, Amarkets has this kind of requirement; its example was reviewed above. The companies set a check value by which the deposit amount is divided to receive the required number of lots.

Payment of a specific quantity of commissions

This is another widespread method for the transfer of bonus funds to the real account. The companies want their traders to pay as many commissions as possible, and for this, they have to trade actively. The funds can be credited to the trader’s account as they pay the required commission amounts.

Some brokers actually don’t allow withdrawal of bonuses altogether. However, in this case, they offer wide opportunities for using trading credits. They can be used to increase margin, compensate for losses, slippages, etc.

What are forex deposit bonus limitations

Brokers have the authority to set various kinds of restrictions and limitations on FX deposit incentives. These could arise, for example, from the law. In the US, EU, and UK, using these kinds of exclusive deals is governed by extremely strict laws. Therefore, brokers with licenses from these jurisdictions either sporadically or never offer forex incentives in order to avoid any regulatory accusations.
There can be a deadline set by the corporation for utilizing the incentive. Time constraints often range from one month to six months. The trader is provided this time so that he or she can meet the minimum trading volume requirement and pay the necessary commissions. The company’s client forfeits the FX deposit incentive if they don’t comply with the deadlines.

Marginal trading may be subject to restrictions from the brokers. There may be less leverage available when trading with bonus money. For your bonus monies, the broker may lower the leverage from, say, 1:100 on your trading account to 1:10 instead. Certain companies completely prohibit leveraged marginal trading.
Furthermore, the deals that are included in the trading volume may be subject to requirements from certain companies. For instance, pips may be subject to restrictions. A closed trade with a maximum of three pip is typically the minimal requirement.

The amount of extra money that can be used to start a deal can also have a cap. A broker may, for instance, set a trade limit of 10% or 20% of the trading credits available on the account. Furthermore, restrictions may be placed on the usage of bonuses as a slippage remedy.

Tax Implications of Forex Trading

In many countries, tax authorities mandate disclosure of the gains and losses from Forex trading. However, the tax laws that regulate forex trading gains varies significantly between nations and have distinct requirements for reporting short-term versus long-term income as well as restrictions regarding handling losses. A 100% deposit forex bonus could confuse things even further by raising the amount of capital required to trade and the potential gains or losses.

Understanding Your Tax Liability

• Tax Treatment of Losses: It’s important to know how your tax authority handles losses, especially if you trade forex and have significant volatility. Sometimes losses can be deducted from subsequent capital gains or even from regular income, although there may be rules and regulations controlling the carryover or backtracking of losses.
• Classification of Forex trading: Assessing how the tax authorities classify your trading activity is the first step towards finding out how much tax you owe. In several countries, trading forex is regarded as speculative and is subject to different taxes than regular or investment income. This classification affects the taxation of profits as well as the availability of credits or deductions.
• The Effect of Leverage and Forex Bonuses: The potential gains and losses can be significantly increased by using leverage or trading with a 100% deposit bonus. It is essential to comprehend how these factors affect the amount of taxes you must pay. For instance, according on the jurisdiction, earnings from leveraged trades or those involving bonus money may be subject to varying taxation.

Reporting Forex Income

• Specialist Advice and Support: It is advised that you get advice from a tax expert with experience in forex trading due to the complexity of taxation related to forex trading, especially while taking advantage of a 100% deposit bonus. A tax expert can provide guidance based on your particular situation, helping you to comply with regulations and even improve your tax status.
• Documentation and Record-Keeping: Forex traders are required to keep exact and accurate records. Dates, amounts, earnings and losses, and any associated costs or fees must all be recorded. These records are necessary to finish your tax return and provide evidence of the income and expenses you reported.
• Reporting Requirements: Each country has its own regulations for reporting foreign exchange income. Net earnings (total gains less total losses) for the tax year are typically required to be disclosed by traders. Certain nations require reporting when trading activity surpasses predetermined thresholds for capital or transactions.

Understanding the Risks of Forex Trading

Buying and selling currency pairs in order to profit from fluctuations in exchange rates is known as forex trading.
Despite the possibility of high returns, people who utilize a lot of leverage — often motivated by benefits like a 100% forex deposit bonus — run the risk of experiencing negative outcomes.

Potential Financial Losses

By offering a 100% deposit bonus, traders may be enticed to increase their positions beyond what they would with only their initial investment. While this can boost capital and earnings during favorable market swings, it also amplifies the risk of financial losses through leverage.

Stability in markets should not be assumed — volatile conditions could mean that losing more than one’s original investment is possible.

In order to steer clear of potential bonus dangers like withdrawal restrictions or higher trading volume requirements, traders need to be aware of any restrictions imposed by these alluring offers.

Market Volatility

The forex market is known for its volatility, influenced by economic indicators, political developments, and investor sentiment. Although the fluctuation could present favorable trading prospects, it also increases risks — especially when traders are not ready or lack a reliable strategy.

With such unpredictability in mind, offering a 100% deposit bonus could encourage traders to take on overly risky bets exceeding their abilities.

To comply with the bonuses offered by Forex brokers, traders must employ efficient risk management techniques, like establishing realistic profit targets and putting stop-loss orders in place to guard against large losses.

Keeping an eye on economic trends, market conditions, and technical indicators can help you manage any disruptions in the marketplace and make better judgments.