Compare the best forex brokers with bonuses in 2023

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: Jan 23, 2023
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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 2023

  1. eToro: Best for beginners, copy-trading & demo-account
  2. OANDA: Best for trading with live market data
  3. Capitality: Best for trading like a pro

What are the best forex brokers with bonuses?

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.

1
Min. Deposit
$ 10
Promotion
User Score
10
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
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro. Your capital is at risk.
2
Min. Deposit
$ 10
Promotion
User Score
10
55+ currency pairs available
Trade on a trusted platform
24/7 support via live chats, email or phone call
Start Trading
Payment Methods:
Bitcoin, Credit Card, Debit Card, Visa
Full Regulations:
LonghornFX offers high-leverage trading on a wide variety of assets. Trading with leverage carries a degree of risk which may result in losing more than your investments. Clients should practise risk management to protect themselves from losing more than they can afford when trading with leverage.
3
Min. Deposit
-
Promotion
User Score
9.8
Take a position on major global indices, including US Wall St 30 and France 40
Low spreads and accurate pricing reflecting the underlying market
Comprehensive analysis and new for better decision making
Start Trading
Payment Methods:
Bank Wire, Check, Credit Card
Full Regulations:
CFTC, FCA, IIROC, MAS, NFA
Leveraged trading in foreign currency contracts or other off-exchange products on margin carries a high level of risk and may not be suitable for everyone. We advise you to carefully consider whether trading is appropriate for you in light of your personal circumstances. You may lose more than you invest.

Top 4 forex brokers with bonuses, reviewed

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

1500

No. assets

$10

Minimum deposit

Forex

Platform type

Pros & Cons

Overview

Visit eToro Read Review

2. Oanda. Best for trading with live market data

oanda logo

1500

No. assets

$10

Minimum deposit

Forex

Platform type

Pros & Cons

Overview

Visit Read Review

3. Capitality. Best for trading like a pro

capitality logo

...

No. assets

...

Minimum deposit

Forex

Platform type

Pros & Cons

Overview

What is a forex broker

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

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

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

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

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

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

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.

Quick answers to key questions

Can I sign up for more than one bonus?

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?

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?

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.

Where can I learn more?

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.

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Sources & references
Risk disclaimer

Invezz is a place where people can find reliable, unbiased information about finance, trading, and investing – but we do not offer financial advice and users should always carry out their own research. The assets covered on this website, including stocks, cryptocurrencies, and commodities can be highly volatile and new investors often lose money. Success in the financial markets is not guaranteed, and users should never invest more than they can afford to lose. You should consider your own personal circumstances and take the time to explore all your options before making any investment. Read our risk disclaimer >

James Knight
Editor of Education
James is a lead content editor for Invezz. He's an avid trader and golfer, who spends an inordinate amount of time watching Leicester City and the… read more.