Forex trading offers

Octafx offers a deposit bonus of up to 50% on all deposits above $50 regardless of the currency base or preferred payment system.

No deposit forex bonuses

20 Best Forex Bonuses for 2020, forex trading offers.

This is available to all the trading accounts hosted by the broker, including ECN accounts. The trader is however at liberty to decide the level of bonus they prefer (below 50%) when making their deposit as this plays a key role in affecting the trading volume required to activate the credited amounts and transferring them to the withdrawable balance section. Additionally, the bonus can be traded on different platforms, including metatrader accounts integrated with an expert adviser. Profits can be withdrawn without restrictions, but withdrawing the deposit amounts below the level of the credited amounts cancels out the bonus. We’ve analysed all the forex bonuses in the market and found the following broker to have the best welcome offer, bonus terms, platform, usability and regulation. Click the link below to claim your bonus or read on to find out why this is our top choice.

20 best forex bonuses for 2020

As forex trading goes mainstream attracting forex trade enthusiasts, brokers get to understand that it is not enough to have a solid reputation of trust and reliability. They need to incentivize traders into registering with them, and most have found huge success introducing bonuses; both for no-deposit welcome bonus and initial or recurrent deposit bonuses.

In this post, we review the best forex brokers with the highest deposit bonuses, and also explain what it takes to unlock these benefits. These are often expressed in percentages of the deposit amount. Our approach to the high bonuses subject is holistic and extends way beyond the bonus to touch on aspects of the forex broker reputation like the ease of doing business with them, and their reliability.

Best overall forex bonus

We’ve analysed all the forex bonuses in the market and found the following broker to have the best welcome offer, bonus terms, platform, usability and regulation. Click the link below to claim your bonus or read on to find out why this is our top choice.

1. Plus500: $25 bonus for customers outside of europe (best for south african traders)

Plus500 is a well-regulated forex broker holding licenses from the cysec, FCA and listed on the london stock exchange.

This broker offers a fantastic forex trading platform where investors can trade on 60+ forex pairs including the most popular forex pairs like EUR/USD, GBP/USD and EUR/GBP with leverage up to 1:30. They offer a very low minimum deposit of $100, which means your forex account can be worth up to $3,000 if using leveraged positions.

Their platform also counts with various advanced trading tools such as stop loss and stop limits, to ensure full customization and control over your forex trades, and minimize losses, a factor that is very important especially when using leverage. Plus500 also offers free forex signals and indicators as well as access to advanced charts and educational resources.

Plus500 offers low spreads starting from 1.9 pips on forex trading, and the account opening process is smooth and hassle-free.

Plus500 is currently offering a $25 free bonus to all traders outside of europe on forex trading. This bonus is available when you deposit the minimum required amount on the platform and open your account using this link. The welcome offer is only available to new customers, and the terms and conditions apply (check your country is eligible for the bonus before depositing). The offer is available to redeem within 90 days. Click the link below to claim your bonus today.

Plus500: claim your free £/€/$25 forex bonus

Free $/£/€25 bonus for new clients

Fully regulated forex broker

$/€/£100 minimum deposit

Best US forex bonuses

Even though the number of US forex brokers delivering access to the financial markets is rising, the actual number of companies offfering their services for US customers and residents is a number that has barely moved through the years.

If you are interested in starting a career in the forex market and you are a citizen or a resident of the US, check out these brokers below, all offering fantastic bonuses for american traders.

1. Libertex – 100% welcome bonus

Libertex rewards new traders a 100% welcome bonus for every deposit over $100. While the minimum deposit amount to receive the welcome bonus is $100, the maximum bonus amount is $10,000. Libertex welcome bonus will be paid over the course of 90 days in 2% payment chunks. A user simply needs to register for a trading account and fund the account with the minimum amount of $100 in order to get the libertex welcome bonus.

The converted bonus gets paid to your trading account and you are free to withdraw or trade with this money, however, libertex maintains basic requirements for rewarding its new traders. Whenever a trader reaches a certain percentage of the bonus earned, libertex pays the converted bonus to the trader’s account.

2. Forex.Com – $50 bonus

If you are interested in trading in the US, you see yourself being rejected by most european brokers due to tight requirements needed for americans. If this did not make you drift towards a different asset class you might want to consider opening a trading account with forex.Com. The firm might not offer any of the marketing tools and benefits from the majority of firms in europe, but in exchange, you will gain access to one of the most respected and stable forex brokers in the world.

As a symbolic benefit, forex.Com offers a one time bonus of $50 per user after they’ve deposited at least $250 to start their own account. This might not sound like much but considering the fact that it is an american broker, it is more than I would have ever expected!

3. Paxforex- 100% loyalty deposit bonus

Paxforex rewards new and existing clients 100% deposit bonus for every deposit over 1200$. The bonus will be paid over the course of one year and the first payment will be sent to your account as soon as your deposit clears. Paxforex will match your deposit in bonus money which will be divided by 12 equals parts and granted every month. The bonus amount can be used only for trading and cannot be withdrawn. Paxforex has a limitation of $10,000/EUR 9,000 on the total deposit bonus amount on one forex account.

Best non-U.S. Forex bonuses

If you are outside of the U.S, there are a number of well-regulated brokers offering attractive welcome bonuses for all forex traders. Below, we list the top fx bonuses for traders in europe and rest of the world. Be sure to read the broker’s terms and conditions before you deposit to ensure the bonus is suitable for your needs.

1. Global pro trader – 100% bonus on FTD via card, 150% bonus on FTD via crypto

Global pro trader rewards traders with 100% bonus on first time deposit (FTD) via card and 150% bonus on first time deposit (FTD) via crypto. Note that, the bonus is only available to one account and cannot be transferred between accounts. It also has a minimum trading volume of the bonus amount divided by 4 in order to withdraw bonus funds. The bonus and profits made on the trading account can be withdrawn once the minimum trading requirements have been fulfilled.

More importantly, the bonus can be redeemed once a trader has executed 30 standard lots for every $1000 bonus, within 60 days (44 market days) of receiving it. To qualify for the globalprotrader bonus, traders must complete the registration process and deposit funds through credit card or cryptocurrency.

2. Avatrade- welcome bonus up to $16,000

Avatrader is also keen on incentivizing individuals who wish to open trading accounts with them by offering deposit bonuses of up to $16,000. Unlike most other forex brokers who express their deposit bonus as a percentage of the deposit amount, avatrader maintains a graduated scale for rewarding its new traders. Individuals interested in their platform can use the online calculator on the avatrader website to determine the bonus attributable to their initial deposit. The bonus is however only available to new trading accounts that deposit a minimum 1000 units of their preferred base currency (USD/GBP/EUR). To move the credited amounts to the withdrawable balance side, you must execute a trading volume 10,000 times your deposit within six months.

3. Easy markets- 50% deposit bonus

Easymarkets rewards anybody who opens a trading account with them with up to 50% bonus on their first deposit amount. This is only applicable to new accounts that receive the upwards of $100 as initial deposit. The graduated bonus scaling technique rewards 30% bonus for deposits below $200 and 50% for initial deposits between $200 and $1000 while the rest, above $1000, get a 40% burp as a bonus. The broker has set the maximum allowable bonus per account at $2000. Unlike most forex industry insiders that avail the bonus for withdrawal after a target volume of trade, easymarket’s bonus is not withdrawable. There is however no restriction to profits earned by trading the bonus amount.

4. FXTM- up to 30% welcome bonus

The percentage of deposit bonus reward by forex time (FXTM) brokers depends on your geographical region. For instance, FXTM clients hailing from south east asia and the greater china region are eligible for a deposit bonus of up to 30% and a maximum amount of $100. FXTM trading account clients in africa will also get back 30% of their deposit amounts with the maximum amount allowed capped at $300. Traders in the middle east who open and fund a trading account with FXTM will get back 10% of their deposit amounts and a maximum of $300. To qualify for the bonus, the trader must complete their trading account registration and verification and also fund their respective account with the minimum deposit within six months.

5. Instaforex- 100% deposit bonus

Instaforex offers one of the widest ranges of deposit bonuses to its clients, depending on the trading accounts opened with the broker. The most popular in the 100% marching bonus to initial deposit made to any trading account. The broker also gives out a 30% bonus for all other subsequent deposits with instaforex club accounts receiving a 40% bonus. There is also the 50% chancy deposit bonus that is given once a month for deposits exceeding $3000. They also have a promotional 55% deposit bonus program for all accounts opened after june 2013. Withdrawing profits derived from the deposits with broker’s bonus is allowed but the credited deposits amounts will only be moved from the credit to the balances section once the trader hits the required trade volume limit.

6. FP markets- 20% credit bonus

FP markets rewards its traders with a 20% initial deposit bonus that is credited to their trading account. Qualifying for the bonus starts by completing the trader verification process and funding an account with an initial deposit of between $100 and $25,000. Note that, this is only available to traders maintaining the standard, raw MT4, and MT5 trading accounts. It also has a maximum allowable bonus amount set at $5000. While the amounts may be used to cover drawdowns, it will only be activated in the case of negative balance. Profits from the bonus amount can be withdrawn freely but you have to fulfill the required trading volume requirements to convert the bonus into cash.

7. Octa FX- 50% bonus on each deposit

Octafx offers a deposit bonus of up to 50% on all deposits above $50 regardless of the currency base or preferred payment system. This is available to all the trading accounts hosted by the broker, including ECN accounts. The trader is however at liberty to decide the level of bonus they prefer (below 50%) when making their deposit as this plays a key role in affecting the trading volume required to activate the credited amounts and transferring them to the withdrawable balance section. Additionally, the bonus can be traded on different platforms, including metatrader accounts integrated with an expert adviser. Profits can be withdrawn without restrictions, but withdrawing the deposit amounts below the level of the credited amounts cancels out the bonus.

Factors to consider when choosing forex deposit bonus

Before requesting for the 100%+ bonus or cash rebates, there are a few factors you need to consider. These are all contained in the fine print of the broker’s terms and conditions, and touch on how you interact with the ‘free trading money’ and its impact on your actual deposit. They include:

Size and impact on your trades

Ideally, the higher the deposit amount you request the larger the impact it has on your trades. For instance, some brokers will set a minimum or maximum lot size that you can execute as long as the deposit amount remains active. More importantly, the larger the advanced amounts, the higher the trading volume lots required to convert it into cash.

Flexibility and adaptability

To what extent can you use the deposit amounts or the profits accrued from its use? Can it be used to shield against negative balances? How easy is it to withdraw the profits derived from its trade or do you need to fund the account to activate it like in the case of no-deposit bonus? Pay attention to these details when reading through the terms and conditions a broker has attached to their bonus and only accept it if you consider them tolerable.

Time limit to trade volume execution

If you accepted a 20% bonus on a $1000 deposit that requires a trade of 10x the deposit amounts to release $1 of the bonus to your account, you will have to execute trades worth $2,000,000 before the full bonus amount is converted into cash. This explains why a majority of traders taking up bonus offers never get to enjoy them. Plus the higher the bonus amount, the larger the trading lots and the longer it will take to execute them. Take this into account and only take it if you consider the trade volume and the time given to be reasonable.

Should you accept a forex bonus?

Deposits bonus play a key role in helping advance your profitability. While all these forex brokers treat the bonus as a credit advance, they don’t restrict the use of any profits derived from its use. Most will also give you a chance to win and claim it as cash as long as you fulfill their set conditions that revolve around limiting the withdrawal of your deposit, as well as, executing enough trades.

You, however, have to be careful when interacting with the free deposit bonus. Take time to vet a forex broker, paying attention to how they disburse and handle credited bonuses. Consider brokers with flexible deposit bonuses that cover drawdowns and allow for the unconditional use of profits accrued from their trading the bonus. Avoid the rest whose credited amounts won’t cover drawdowns.

Other types of forex bonuses available

Forex no-deposit bonus: this refers to the deposit awarded to a trader for every account opened with the forex broker. It is credited to the trader’s account and is not withdrawable until a set of terms are fulfilled. These are perfect for testing the effectiveness and transparency of the forex broker.

Forex welcome bonus: this is advanced to new traders who open an account with a broker, regardless of whether they make the first deposit or not. It may, therefore, double up as a no-deposit or initial deposit bonus. The difference between the two is that while most brokers offer a no-deposit bonus to multiple accounts by the same client, most will only advance the welcome bonus to a client once regardless of the number of accounts opened.

Cashback (rebate) bonus: this works like the recurrent deposit bonus with the only exception that the rebate bonuses are offered in terms of specific amount and not as a percentage of the deposit. For instance, a broker may award $100 for every deposit a client makes above $1000.

Personalized/VIP bonus: this is a specialized type of bonus advanced to a selected group of clients. In most cases, VIP bonus is advanced to high volume traders operating special types of accounts and their terms are also more favorable.

Loyalty bonus: loyalty bonus is set aside by forex brokers for their distinguished existing clients. In most cases, the broker establishes a loyalty program that rewards traders with points for every trade or lot executed. Traders are then promised a cash bonus upon hitting a particular milestone.

Criteria we used to rank forex bonuses

Deposit bonuses are gradually evolving into one of the most critical factors enthusiastic traders put into consideration when deciding the broker to invest with. This has allowed most brokers of ill repute to lure innocent traders and entice them into making a deposit with them with the promise of huge but complicated deposit bonuses. We have however taken time to sort these out and present to you only the most reputable and highly reliable industry operatives. Safe for high deposit bonus and reputation, other factors we put into consideration when vetting the forex brokers include:

Regulation

Minimum deposit amounts

Flexibility (withdrawable profits and ease of conversion to cash)

Brokers with low spreads

Risk management tools

Conclusion

There is a huge number of forex bonuses available in the market, and choosing the right one based on your country, legislation, budget and trading needs is crucial. Forex bonuses are a great way to get started if you have a limited budget, or if you want to grow you account. However, it is important to keep in mind that even though a bonus might look like a great benefit to have, in most cases it is simply used as bait to attract and lure inexperienced investors and traders, so we urge you to read the broker's terms and conditions carefully before depositing funds in hopes of receiving a bonus which may not be suitable for you.

Plus500: claim your free £/€/$25 forex bonus

The 11 best UK CFD and forex brokers in 2021

Etoro - the #1 broker

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Forex and CFD brokers are responsible for facilitating trades on the foreign exchange market, essentially by providing a platform through which traders can buy and sell a wide range of currency pairs.

Forex is the largest financial market in the world; as such there are many brokers operating in this field. Figuring out which one is right for you is a confusing but vital process, since your choice of broker can be influential to your success; choosing the wrong one could be financially devastating.

This article looks at the key points to consider when making your choice, before offering our list of the 11 best forex brokers in the UK.

We also recommend you view this list of FCA regulated UK forex brokers created by the team at compareforexbrokers.Com.

Key considerations when choosing a forex or CFD broker

A broker that suits one trader is not necessarily right for another, and it’s important to conduct thorough research to find the right one for you.

Considerations should be relevant to your personal circumstances, but here are a few key points that you’ll need to keep in mind:

Is it regulated?

The primary consideration when choosing a forex or CFD broker is safety.

You’re entrusting it with monetary funds and personal information, and will want a guarantee that both are protected.

You’ll also want confidence in your chosen broker’s reputation and credentials; essentially ensuring that it's not likely to go out of business, or worse, scam you out of profits.

The best forex and CFD brokers in the UK will be regulated by the financial conduct authority (FCA). This means it is obliged to operate to the highest standards with fairness and transparency.

Regulation information should be clearly visible on a broker’s website and its FCA registration number listed.

What is its trading costs?

The next thing to consider when choosing a forex or CFD broker is cost.

While some work on commission, most make money through spreads.

The spread is the difference between the buy and sell price on a currency pair and, depending on the type of trader you are, can have a significant impact on your profit margin.

Look at the average spreads each broker offers to find one that works best for you.

In addition to spread, you’ll also need to consider the minimum deposit required and any other fees the broker may apply, such as rollover costs (a charge to hold an open position overnight), interest rates and withdrawal charges.

Be sure to read the small print of each broker's service agreement to avoid unexpected costs. Also remember that the cheapest option is not always the best. Look for value for money rather than the lowest cost.

What trading platforms does it use?

The trading platforms offered by a forex or CFD broker are extremely important, since it’s through them that you’ll conduct all trading activity.

You’ll want a platform that’s intuitive, easy to navigate, suitable for your level of experience and that comes with a range of useful features to help inform the best trading decisions.

Many of the best forex or CFD brokers in the UK offer the popular metatrader 4 (MT4) platform as well as their own platforms, most of which you can try out before making any commitment with a free demo account.

Does it offer good customer service?

A broker doesn’t provide you with a one-off service. It supports you throughout your trading career, so it’s vital it provides good customer care.

A good broker should be easily contactable, handle problems efficiently and offer trustworthy trading guidance. Check out customer reviews of each potential broker on your list to see how they stack up.

When considering customer service, also keep in mind the level of support each broker offers through educational tools and resources. The best forex or CFD brokers want you to turn a good profit and will often provide video tutorials, articles and webinars, most of which are free to access for account holders.

Does it fit with your trading style?

The type of trader you are will have a significant influence on the best broker for you, so be sure to assess how well what it offers fits with your trading style.

If you’re a scalper, opening and closing trades to accumulate small profits several times a day, you’ll need a broker that offers tight spreads and does not insist on a minimum time frame between entering and exiting the market.

If your strategy is focused on the carry trade, where you intend to hold positions over time to profit from interest rate differentials, you’ll want to look at a broker’s rollover pricing and swap rates.

In addition to the above, you should also keep in mind things like:

Available leverage

The types of accounts on offer

The range of currency pairs available for trade

Ultimately, choosing a good forex or CFD broker comes down to thorough research. The following list of the best forex and CFD brokers in the UK should give you a good starting point.

11 best forex and CFD brokers in the UK

There are numerous brokers available and we would always recommend that you conduct your own thorough research and due diligence before making your own personal choice.

Although we have listed several brokers below, it should be noted that this is through online research, not personal experience.

At wikijob, we are not financial advisors and any information provided throughout this article is for educational purposes only.

1. Etoro

Recommended for: beginners

Founded in 2007, etoro is considered a very low-risk broker as it is highly regulated by the financial conduct authority (FCA) in the UK and many other regulatory bodies elsewhere.

Opening an account is free and you can access a $100,000 demo account to test the system.

It offers 47 currency pairs for trading. Spreads for forex trading have recently been significantly reduced and range from a very competitive 1 to 3 pips for major currency pairs.

Typical spreads for EURUSD and USDJPY trades, for example, are just 1 pip.

You can see the full list of spreads on the etoro website.

You’ll need to deposit a minimum of $200 for copy trading, etoro's standout feature which allows you to follow other traders and copy their trades.

This forex broker is great for beginners due to its user-friendly interface and app and 24-hour customer support. It allows you to trade currencies, stocks and cryptocurrencies in one portfolio and the copy trading system is a great way to learn.

The company also offers trading courses and features a learning lab which houses a variety of tools to support clients with their trading experience.

2. Pepperstone

Recommended for: social copy trading

Founded in 2010, pepperstone has been quick to adapt to the social copy trading trend, providing plenty of tools for traders to share and mimic trading styles.

With over 60 currency pairs, it offers two account types:

Standard – the standard account comes with market average spreads and zero commission

Razor – this account operates on a commission basis but with exceptionally low spreads

Pepperstone does not have its own platform but offers the complete MT4, MT5 and ctrader solutions, as well as supporting zulutrade, myfxbook and metatrader signals for copy trading.

There is no minimum deposit required but pepperstone recommends a minimum of £500.

3. Trading212

Minimum deposit: $1
regulations: FCA, FCS

Although its spreads are not as competitive as some others, trading212 does work on zero commission, so it is well worth considering your potential profit margins with this broker.

Its proprietary platform comes with a custom-built mobile app designed specifically for on-the-go trading. With a clean user interface and several analytical tools and features, it is a valuable solution for those wanting a mobile trading experience.

Be aware, though, that if you are a more experienced trader looking for advanced functionality, you may find the simplicity of trading212’s mobile app somewhat limiting.

Another benefit of trading212’s service is that you can easily switch between active and demo accounts, allowing you to test out new styles and strategies risk-free.

4. FXCM

Recommended for: high volume trading

Another well-established broker, FXCM has served forex traders since 1999.

It offers a comparatively low range of currency pairs, with just 39 available, and its spreads are a little above the market average. However, for those looking to trade often and at high volume, its active trader account provides very competitive pricing.

FXCM also offers multiple trading platforms, including MT4, ninjatrader, zulutrade and its proprietary platform, trading station.

Leverage is available up to 30:1 on many major pairs, and a minimum deposit of £300 is required for standard accounts. The active trader account requires a minimum deposit of £25,000.

5. City index

Recommended for: competitive spreads

A well-established and highly regarded UK forex broker, acquired by parent company GAIN capital in 2014.

It currently offers 84 currency pairs across major, minor and exotics, with spreads on many majors standing around 0.8 when trading through its proprietary platform. You’ll need to deposit a minimum of £100 to start trading.

City index provides several platforms, with its web trader and advantage apps aimed at beginner or casual traders, and MT4 and its own AT pro platform for more experienced users.

6. Plus500

Recommended for: experienced traders

First on our list of the best forex and CFD brokers in the UK is plus500, providing an easy-to-use and accessible service.

You’ll find over 60 CFD currency pairs with competitive spreads, no commission and available leverage of up to 30:1.

Although metatrader and ctrader are not available, plus500’s own platform is very user-friendly. It comes with a range of intuitive risk management features and is available on web and mobile.

Plus500 requires a minimum deposit of £100 if using a credit or debit card, and £500 if using bank transfer.

Plus500 UK ltd authorized & regulated by the FCA (#509909).

76.4% 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.

Availability subject to regulations

7. Think markets

Recommended for: range of markets

Think markets was founded in 2010 in new zealand. Now headquartered in australia, in a short space of time it has become a preeminent, multi-regulated broker providing access to a broad range of markets and CFD products.

Think markets provides access to a range of markets including shares, forex, commodities (energy and agricultural), metals, equities and etfs, indices, futures, and cryptocurrencies.

It has over 38 currency pairs, 9 indices, 10 cryptocurrencies and 1,200 shares to choose from.

It offers three trading platforms – its proprietary platform, think trader, as well as the popular meta trader 4 and the new meta trader 5.

Traders can set up a demo account and practice trading for free with $25,000 in virtual funds.

A standard account can be opened without putting down any cash, allowing traders to explore their live account before they trade.

With a standard account, you can trade with a maximum leverage of 30:1. If you qualify as a professional trader, you can trade with 500:1 leverage.

There is also a think zero account for forex trading, which offers tight spreads from as low as 0 pips. There is no broker mark-up, only a small commission involved.

Think markets has 24/5 customer support via web or phone.

8. Fxpro

Recommended for: trading with metatrader

Compared to others in our brokers list, fxpro is a relative newcomer, having launched in 2006.

With around 70 currency pairs on offer, and several accounts available with differing spreads and commission rates, it is perhaps not the best option for first-time traders.

However, if you have experience and an established trading style, fxpro is a good choice.

It is one of two brokers on our list to currently offer the full metatrader suite, with MT4 and metatrader 5 (MT5) available. It also offers ctrader and its own platform, fxpro edge.

Fxpro recommends a minimum deposit of £500, though you can start trading with just £100.

9. XTB

Recommended for: customer service

The last of our best brokers in the UK is XTB, founded in 2002 with an excellent reputation for customer service.

It has 48 currency pairs available to trade through two account types:

Standard – offering market average spreads

Pro – offering much tighter spreads but with added commission

XTB supports the full MT4 suite, and its proprietary platform, xstation 5, offers a user-friendly, intuitive solution that works well on desktop, web and mobile.

You’ll need a minimum deposit of £250 to start trading and you’ll find that several educational resources are available, including XTB’s trading academy.

10. CMC markets

Recommended for: range of currency pairs

Established in 1989, CMC markets was one of the first UK brokers to provide online forex trading.

It offers over 300 forex pairs, with spreads as low as 0.7 on majors, including EUR/USD and USD/JPY, and leverage up to 30:1 on many major pairings.

Its award-winning proprietary platform, next generation, is available on both web and mobile, offering an intuitive interface suitable for users of all experience levels. MT4 is also available.

There is no charge to open an account and no minimum deposit required to start trading, making CMC one of the most accessible of the best forex brokers in the UK.

11. IG

Recommended for: great all-round broker

Founded in 1974, IG is the longest-standing firm in our brokers list and a popular choice with retail and professional traders alike.

It offers highly competitive spreads on many majors, such as an average 0.7 on EUR/USD, and has over 90 currency pairs available for trade.

IG’s proprietary web-based platform is renowned for its speed, reliability, functionality and ease of use, whilst its mobile app offers a highly comparable experience. MT4 is also available.

You can start trading with IG with a minimum £250 deposit.

Final thoughts

All of the above firms are regulated by the FCA which, as mentioned, is a primary consideration when choosing a forex or CFD broker.

Of course, this list is not exhaustive and is not intended to inform any final decision made on your part. Instead, use it as a reference tool to guide your research and find a broker that best suits your trading style and personal circumstances.

Wikijob does not provide tax, investment, or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. Investing involves risk including the possible loss of principal.

ESMA risk warning: cfds are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading cfds. You should consider whether you understand how cfds work and whether you can afford to take the high risk of losing your money.

20 best forex bonuses for 2020

Best overall forex bonus

1. Plus500: $25 bonus for customers outside of europe (best for south african traders)

Plus500 is a well-regulated forex broker holding licenses from the cysec, FCA and listed on the london stock exchange.

Plus500 offers low spreads starting from 1.9 pips on forex trading, and the account opening process is smooth and hassle-free.

Plus500: claim your free £/€/$25 forex bonus

Free $/£/€25 bonus for new clients

Fully regulated forex broker

$/€/£100 minimum deposit

Best US forex bonuses

If you are interested in starting a career in the forex market and you are a citizen or a resident of the US, check out these brokers below, all offering fantastic bonuses for american traders.

1. Libertex – 100% welcome bonus

2. Forex.Com – $50 bonus

3. Paxforex- 100% loyalty deposit bonus

Best non-U.S. Forex bonuses

1. Global pro trader – 100% bonus on FTD via card, 150% bonus on FTD via crypto

2. Avatrade- welcome bonus up to $16,000

3. Easy markets- 50% deposit bonus

4. FXTM- up to 30% welcome bonus

5. Instaforex- 100% deposit bonus

6. FP markets- 20% credit bonus

7. Octa FX- 50% bonus on each deposit

Factors to consider when choosing forex deposit bonus

Size and impact on your trades

Flexibility and adaptability

Time limit to trade volume execution

Should you accept a forex bonus?

Other types of forex bonuses available

Criteria we used to rank forex bonuses

Regulation

Minimum deposit amounts

Flexibility (withdrawable profits and ease of conversion to cash)

Brokers with low spreads

Risk management tools

Conclusion

Plus500: claim your free £/€/$25 forex bonus

Forex live trading

Live forex trading is usually short-term trading, based on real-time charts and quick execution. Forex live trading accounts make use of special trading platforms, which support this type of trading activity. Live trading webinars or forums also represent a great learning tool. Most live currency trading decisions stem from technical analysis. Read on to find out more…

Traders can use real-time charts and technical analysis to place long-term trades as well. In this case, however, tracking by-the-second changes in price offers no advantage.

We are taking a closer look at real-time forex trading and its peculiarities. We cover different aspects of the practice, such as:

Live forex trading brokers and accounts.

Live trading services.

Live prices, quotes, and charts.

Trading videos.

Live forex brokers in the united kingdom

Trading forex ‘live’

Live forex brokers are service providers that act as intermediaries between retail traders and the forex markets.

They make it possible for traders to access the markets. A live forex broker features real-time charts and extremely fast electronic execution. This way, it lets traders react to price movements in real-time.

Most forex brokers generate revenue through the bid/ask spread. They may also charge commissions. Some brokers have adopted unique, creative ways to “turn a buck” off their services.

Accounts

To access the services of a forex broker, you need to create a forex account. Brokers offer several types of trading accounts .

Of these, the demo account is the quickest and simplest to open. You may only need to provide an email address to get such an account going.

Real money accounts, on the other hand, require a lot of paperwork. Some brokers will want to know your financial situation, your revenue sources and other such sensitive bits of personal information.

You have to make sure that you open the right kind of forex trading account with the right broker.

Real-time forex trading is electronic. Given the need for real-time price information and near-instant execution, it cannot be of any other kind.

In addition to being an online operation, your real-time forex broker cannot be a market maker. Some brokerages engage in market making. There is not much point in trying to trade live with such a broker.

Live traders need real-time charts. What you need to know in this respect is that different brokers have different liquidity providers.

Depending on these liquidity providers, there may be slight differences in the real-time prices the brokers use.

Platforms

Forex trading platforms, such as metaquotes’ popular MT4, let traders place trades. Most such platforms offer live charts.

Some of these platforms even allow traders to open positions directly from the chart. In regards to the platform, you have to understand that it is a mere interface.

It does not define the offer of your broker. It does, however, define how you can interact with the markets.

What can you expect from your live forex platform?

All forex trading platforms feature charting these days. You need live charting.

Make sure your broker does indeed feature live prices. Understand that the pricing of your broker depends on its liquidity providers to some degree.

They also offer a selection of technical indicators and trading tools.

Most platforms also provide live news-streams. Through this feature, you can handle the fundamental part of your analysis.

Forex trading platforms support several order types. As a live trader, you need to understand how limit orders and stop orders work, among others.

A proper trading platform comes with a reporting function. You will need to use this for tax purposes. Some platforms report transactions erratically, while others produce high-quality reports.

Demo accounts

Demo accounts let you trade for virtual money.

Not all brokers support such accounts, but the majority of them do.

Most forex trading platforms are free to download and use. There are some exceptions in this regard.

As an online forex trader, however, you will probably only deal with free platforms.

As a live trader, you have to resort to a demo account first. You need to acquaint yourself with the ins and outs of the platform.

You should place around 50 demo trades before you move on to real money trading. Experienced traders should go through these demo paces as well.

Only skilled traders should trade in real-time. How do you know whether you possess the minimum required skills? Ask yourself these questions:

Do you know what a limit order, a stop order and a market order are?

Can you set a limit and a stop when you enter a trade?

What is the typical spread of your broker?

Is the spread on your traded asset fixed or variable?

What lot sizes can you trade?

If your connection goes down, can you give the dealing desk a direct call?

Live forex trading apps

Most forex trading apps running on android and ios mobile devices are “mini” versions of the full trading platforms.

As such, they offer the same degree of functionality and the same features, reformatted for smaller screens.

You can download such live forex trading apps from google play or the app store. Forex trading apps are usually free to download and use.

Make sure you understand exactly what your forex trading app offers you. Take it on a demo spin, as most mobile trading platforms support demo accounts.

Ask yourself and answer all the mentioned questions before you begin real money trading through a live forex trading app.

Forex live trading room reviews

Live forex trading rooms are chat rooms through which professional traders interact with and educate an audience. Such chat rooms run from the most sophisticated, dedicated platforms, to simple skype chat groups.

Sophisticated live trading rooms allow their professional users to monetize their seminars and trading sessions.

Educators can share charts, embed various widgets, stream live video, perform analysis and complete trades in a live setting.

Some traders have found much value in such live trading setups. It is fair to say, however, that some of these trading rooms are little more than scams or half-hearted efforts.

Before joining such a trading room, read some reviews on it. Users are usually not shy to share their experiences, whether profitable or not.

What else should you consider?

The focus of the trading room. There are chat rooms focused on swing trading, on scalping, on forex only, on commodities, etc.
The reputation of the live trading room. As mentioned, users are generally keen to share their experiences.

The monetization model. With some trading rooms, you only have to pay for sessions that turn a profit. That sounds like an advantageous monetization model.

The platform used for communication. Trading-dedicated communication platforms are superior to ad-hoc solutions.

Live trading services

In addition to making good use of a demo account, a beginner live trader may also find it useful to employ the services of an expert.

Inthemoneystocks

Inthemoneystocks claims to have outperformed top hedge funds since 2007. The trading room peddles the services of several professional traders. Gareth soloway and nick santiago are their headliners.

The specialties of the mentioned traders include swing trading on stocks and options trading.The website of the trading room provides education as well as verified trading alerts.

Prices start from $299.99 per month.

Investors underground

Investors underground is a trading room that offers free video lessons, as well as full, step-by-step guidance.

Nathan michaud is the founder and star day-trader of the operation. He is something of a celebrity in trading circles.

Michaud is, however, only one of some 10 trading experts who peddle their services through investors underground.

The trading room is keen on not making outlandish claims. The community feedback concerning the quality of services offered by investors underground is outstanding, however.

Monthly subscriptions start from $297.

A basic package includes access to the live trading floor, study groups and pre-market broadcasts.

Forex.Com live trading webinars

Forex.Com’s live trading webinars offer market commentary, mixed with real-time insights.

Experts also answer live questions and offer actionable live trading ideas. Forex.Com users can sign up for the webinars through a special form at the broker’s official site.

Those who register can select up to three sessions.

Live trading signals

Forex trading signals are trade triggers. They tell the recipient whether to buy or sell a certain currency pair. The signal may contain additional information about the timing, stop loss, take profit, etc.

Trading signals may originate from expert traders or various technical indicators.

Live prices

For live forex traders, access to live prices and quotes is of the essence. The current price of a currency is its most recent selling price at an exchange.

Trading videos

The benefits of using trading videos to improve your profitability are obvious. Most educators deliver their lessons through videos.

Trading rooms use videos to disseminate knowledge as well.An interesting take on using videos for trading is to record yourself.

This way, you can analyze your emotional reactions later. It is important to record the screen as well as yourself when shooting such videos.

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