Compare the best forex brokers with bonuses in 2024

A broker that offers a bonus to new users can be a great place to start trading forex. This page compares all of the best options along with the deals they offer.
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Updated: May 25, 2023
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Trade your favourite markets with our top-rated broker, Plus500.

7.8/10

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

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Here we discuss the different bonuses on offer from leading forex brokers and how to qualify for them. Get some tips on how to choose the right broker for you and find out which deals are available.

Best forex brokers with bonuses overall for 2024

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  1. Plus500: Best for international CFD trading*
  2. eToro: Best for beginners, copy-trading & demo-account

What are the best forex brokers with bonuses?

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These brokers offer some of the best bonuses in the business. You can sign up straight away by heading to their website through the links in the table below, or keep reading to learn how to compare them first.

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1
Min. Deposit
$ 100
Best offer
User Score
10
Trade +2000 CFDs on Shares, Forex, Indices, Crypto, Options, Commodities & more
Unlimited risk-free Demo Account
0 commissions & attractive spreads
Start Trading
Payment Methods:
American Express, Apple Pay, Bank Transfer, Credit Card, Debit Card, Discover, Google Pay, Mastercard, PayPal, SEPA, Trustly, Visa, , skrill
Full Regulations:
ASIC, FCA, FSA, MAS, cysec-250-14-regulator, isa-regulator

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

2
Min. Deposit
$ 10
Best offer
User Score
9.9
Join the Social Trading revolution. Connect with other traders, discuss trading strategies, and use our patented CopyTrader
eToro is the world’s leading social trading platform, offering a wide array of tools to invest in the capital markets
Largest number of currency pairs to trade
Start Trading
Payment Methods:
Bank Transfer, Credit Card, Debit Card, PayPal, Wire Transfer
Full Regulations:
CySEC, FCA

eToro offers real assets only, no CFD products. Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Invezz.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD.

3
Min. Deposit
$ 0
Best offer
User Score
9.0
Open a free account in minutes
Go global with fee-free foreign exchange
Finance tracking made simple
Start Trading
Payment Methods:
Credit Card, Debit Card
Full Regulations:

Top 4 forex brokers with bonuses, reviewed

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1. Plus500. Best for international CFD trading*

From 0.08%

Fees

$100

Minimum deposit

3,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Can get a free demo account A great mobile platform Well regulated in multiple jurisdictions Wide variety of CFDs to trade Several good risk management tools
No support on trading information and education Website isn’t brilliantly designed to help users find answers to their questions No MetaTrader trading platform compatibility

Overview

We love Plus500 because it is one of the industry’s most transparent and reliable brokers. Its fees are clear and you’ll know exactly what you will be paying before you make a trade. Its technology driven platform gives access to CFDs on over 60 forex pairs with leverage up to 30:1. 

Plus500 has something for all types of forex trader, no matter what level of experience. Its zero commission and tight spreads make it a top choice for day traders and its trading academy is packed with educational content, perfect for beginners just starting. 

For accurate instrument availability, visit plus500.com.

The fees: There are no commission fees on any trades with Plus500 and it makes it money through the Bid/Ask spread. Spread starts from 0.01% and varies depending on the instrument. Additional fees include overnight funding which is dependent on trade size and guaranteed stop orders, which add a minimum of 10% to the spread. There is an inactivity charge of £10 per month for accounts not logged in for three months. 

*Based on a comparison of 60+ leading brokers and trading platforms.

Highlights

Visit Plus500 Plus500 Review

CFD service. 82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

2. eToro. Best for beginners, copy-trading & demo-account

0% commission

Fees

$100

Minimum deposit

4,000

No. assets

Yes

Demo/virtual account

Pros & Cons

Great for beginners, simple to set up and get started Competitive, industry-leading commissions Popular ‘Copy Portfolios’ function lets you follow top traders Excellent customer service, with live chat support provided Over 2,000 CFDs available to trade for UK & EU users (not US, real assets only)
Comparatively high fees for withdrawals and account inactivity Does not integrate with the MetaTrader platform High spreads on some assets

Overview

We love eToro because it’s an easy place to trade the currency markets. Forex can be intimidating, but eToro strips back the complexity to give you a platform where you can trade 50+ currencies at competitive prices and with up to 30x leverage.

As well as being a broker that offers lots of investor protection, eToro offers a very social trading experience. You can easily see how all the major and minor forex pairs are performing every day, track how investors feel about every one of those currencies, and copy other people’s trade suggestions from your desktop or the eToro app.

The fees: eToro charges a fee on currency CFD trades through the spread. Spreads are variable depending on the currency and start from 1 pip for EUR/USD trades, 1.5 pips for EUR/GBP, and 2 pips for GBP/USD. Overnight and weekend fees apply.

Highlights

Visit eToro eToro Review

eToro offers real assets only, no CFD products. Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Invezz.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD.

What is a forex broker

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It’s a website that lets you trade the currency markets. The broker is the middleman through which you have to place your trades and each different platform offers its own pros and cons. Traditionally, forex brokers let you trade using contracts for difference (CFDs), are regulated, and have been operating for many years.

Many FX brokers have a sign up offer to entice new users to the platform. That might come in the form of a deposit matching bonus, a certain number of free trades, or a cash incentive that’s paid into your account as soon as you sign up.

Things to look out for

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When you’re choosing a broker you want to consider the overall experience along with the bonus on offer. The idea is that you want to use the platform to make trades as well as benefit from a starter deal, like a no-deposit bonus broker. Consider these factors when you’re deciding which one to use.

Design and ease of use

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You want to be able to find your way around the site. It should be easy to use on desktop and on mobile, ideally with its own forex trading app, and clearly display all of the most important information, such as the currencies available.

Currency pairs available

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Foreigh currency pairs are divided up into three groups, known as the ‘majors’, ‘minors’, and ‘exotics’. Most people trade the majors, which include the US Dollar paired with currencies like the British Pound and the Euro. The seven currencies that make up the majors account for more than 85% of trading volume.

If you want to trade the minors – any of the leading currencies except the US dollar – or the exotics – much smaller and more volatile currencies such as the Thai Baht – then you need to make sure the broker offers them before you sign up.

Deposit limits

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Some brokers require a minimum deposit in order to start using it. That’s usually as little as $50-100 but it can occasionally be a lot more. Sometimes the broker might only offer a bonus on deposits over a certain amount as well. That might mean you have to deposit more than $1000 in order to benefit from the bonus.

Fees and charges

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Every broker charges a fee each time you trade and may include charges on other actions such as deposits and withdrawals as well. As a general rule you should prioritise the lowest trading fees possible, as they can really mount up if you plan to be an active trader.

Lot sizes

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Forex is traded in lots, with the standard lot size being $100,000. Usually traders don’t put down that amount of money all at once, instead they use leverage to borrow money from a broker in order to make a trade of that size. 

Different brokers offer different lot sizes, though, and if you want to steer clear of too much leverage you can look for a platform that lets you trade in micro or nano lots, which are $1,000 and $100 respectively.

Compare trading platforms

Quick answers to key questions

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Can I sign up for more than one bonus?

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You can only use a bonus once per broker. You have to verify your account in order to sign up and they won’t let you sign up twice. However, you can sign up for lots of different brokers and benefit from each of their bonuses.

What types of bonuses are there?

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The most common ones are deposit-matching bonuses. In that case the broker matches the value of your first deposit. There are some others available too, a broker might let you trade 40 or 50 times for free, or some offer a no-deposit bonus where you can access it simply by signing up.

Should I sign up for a bonus?

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If you are going to trade forex anyway then it might pay to take advantage of a bonus to help you get started. A bonus can be a good way of boosting the initial money in your account so that you can make more trades, or of making a few risk-free trades as you learn the ropes.

Even if a broker offers a nice bonus, though, you should take time to research it and make sure it’s a reliable platform that you can trust. If you plan on trading for a while then you need to find a top broker that you still want to use long after the bonus has run out.

Choose a reliable broker

Where can I learn more?

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Here at Invezz, we have all the information you need to be successful in the foreign exchange market. You can get to grips with all the different currency pairs available, follow the latest forex news, or learn the basics of the market in our education section.

The USD/ZAR exchange rate rebounded this week as the US dollar index (DXY) bounced back and the countdown for the South African election continued. The pair initially slumped to a multi-week low of 18.40 and then spiked to 19. The US dollar index is soaring South Africa published encouraging economi
The USD/RUB pair held steady this week as the price of crude oil and other commodities rallied and after the US released strong inflation numbers. The pair rose to 93.55 on Friday, where it has been sitting for the past few weeks.  Commodity prices and inflation The Russian economy is doing wel
The GBP/INR exchange rate moved sideways on Friday after the strong UK GDP, manufacturing, industrial, and construction output numbers. The pound to Indian rupee pair was trading at 104.41 on Friday, a few points below the year-to-date high of 106.8. Strong UK GDP data The GBP/INR pair reacted mildl


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Risk disclaimer
James Knight
Editor of Education
James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.