Top 7 Forex Brokers Signup Bonuses

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In the dynamic realm of forex trading, bonuses and promotions have become a commonplace, enticing new traders to embark on their trading journey. Numerous forex brokers extend generous sign-up bonuses to individuals initiating their live trading accounts for the first time.

Top Forex Brokers Welcome Bonuses

Broker with Welcome Bonus

Welcome Bonus
up to $10 000
Min Deposit: $100

Welcome Bonus
NONE
Min Deposit: $100

Welcome Bonus
NONE
Min Deposit: $100

Welcome Bonus
50%
Min Deposit: $50

These welcome bonuses manifest as trading credits deposited into the account, empowering traders to engage in various financial markets without risking their initial capital. Profits amassed during the utilization of these bonuses can be reinvested or withdrawn, subject to the policies of the respective forex broker.

Despite the inherent advantages, it’s noteworthy that some forex brokers have ceased providing sign-up bonuses due to associated risks. However, the following discussion sheds light on the seven best Forex Brokers in South Africa that continue to offer these enticing bonuses.

IFX Brokers Welcome Bonus

IFX Brokers, an established South African-based forex and CFD broker since 2018, stands out for its diverse tradable instruments spanning multiple asset classes. The broker boasts innovative trading technology, optimal trading conditions, and supports MetaTrader 4 and MetaTrader 5. Additionally, traders benefit from educational resources and advanced tools.

Pros
  • Offers MetaTrader 4 and 5
  • Diverse financial instruments
  • Range of advanced trading tools
  • Well-regulated and trusted
  • Provides bonuses to traders
Cons
  • Spreads are higher than those of other Forex brokers
  • No educational materials, market reviews, analytics, or trading calculators on the website
  • Contacting support in live chat and instant messengers is not available

AvaTrade Welcome Bonus

AvaTrade, established in 2006, is a multi-regulated STP and Market Maker broker renowned for offering over 1,250 tradable instruments through cutting-edge platforms. The broker prioritizes transparent and low fees, commission-free trading, reliable execution speeds, flexible funding options, and dedicated customer support.

Pros
  • Multi-award-winning
  • Competitive trading conditions
  • Flexible trading platforms
  • Social trading available
  • No deposit and withdrawal fees
Cons
  • Variable spreads are not offered
  • Spreads are not the tightest

Tickmill Welcome Bonus

Founded in 2015, Tickmill is a well-regulated ECN and STP broker with a global presence. The broker provides over 80 financial instruments across various asset classes, coupled with flexible retail accounts and powerful trading platforms. Tickmill’s experienced team integrates innovative technology with premium conditions for an optimal trading experience.

Pros
  • Negative balance protection on retail accounts
  • Offers VPS, FIX API, and access to AutoChartist
  • Multi-regulated by reputable entities
  • Commission-free trading
  • Client funds in segregated accounts
Cons
  • Crypto trading is not offered
  • Fixed spreads not offered
  • Limited education

Exness Welcome Bonus

Established in 2008, Exness is a UK and Cyprus-based broker offering tailored solutions across different asset classes. Traders benefit from competitive conditions, including tight spreads, low commissions, high leverage, and a low minimum deposit. Exness supports MetaTrader 4 and MetaTrader 5 on various platforms.

Pros
  • Well-regulated
  • High maximum leverage
  • Demo account available
  • Supports MetaTrader
  • Tight spreads and low commissions
Cons
  • Tradable instruments limited

FXTM Welcome Bonus

FXTM, a well-regulated ECN and STP broker, operates in multiple jurisdictions, including South Africa. The broker offers competitive conditions, user-friendly platforms, and educational materials. New traders receive a sign-up bonus upon account verification through the KYC procedure.

Pros
  • Well-regulated by several entities
  • Member of the FSCS
  • Social trading opportunities
  • Advanced charting
  • Choice in powerful trading platforms
Cons
  • Inactivity fees charged

FXCM Welcome Bonus

Established in 1999, FXCM is a well-regulated UK-based STP broker with a global presence. The broker provides a wide range of tradable instruments through innovative platforms. FXCM’s competitive pricing is backed by reputable liquidity providers.

Pros
  • Well-regulated by several entities
  • Social trading opportunities
  • Advanced charting
  • Choice in powerful trading platforms
Cons
  • Spreads are not the tightest

HotForex Welcome Bonus

HotForex, a reputable CFD and forex broker, caters to a vast client base with diverse tradable instruments. The broker is known for competitive conditions, powerful platforms, and offers a sign-up bonus to traders upon account verification.

Pros
  • Well-regulated and trusted
  • Member of an investor compensation fund
  • Negative balance protection
  • Commission-free trading
  • Wide range of tradable instruments
Cons
  • Fixed spreads are not offered

Frequently Asked Questions:


What is a sign-up bonus?

A sign-up bonus is a credit deposited into a trader’s account upon registering a live trading account with a broker, facilitating initial trading activities.


Why do forex brokers offer a sign-up bonus?

Forex brokers extend sign-up bonuses to attract more clients to register live trading accounts.


What are the terms and conditions for claiming a sign-up bonus?

Traders must register a live trading account, with some brokers requiring a specific deposit. Typically, traders can access the trading credit after verifying their accounts through the KYC procedure.


Can I withdraw the bonus money from a sign-up bonus?

No, the trading credit cannot be withdrawn, but some brokers permit the withdrawal of profits generated from the sign-up bonus.


Are sign-up bonus brokers regulated?

Yes, the brokers listed are well-regulated by the Financial Sector Conduct Authority (FSCA) and other reputable authorities.

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