Forex no deposit bonus, welcome bonuses and promo codes
What each of our partner brokers actually offers new clients, which code to enter, and who can claim it. Bonuses are banned for retail clients in the EU, UK and Australia, so where you live decides most of this.
Researched and written by the calc.forex Editorial Team. Last reviewed . Based on each broker's own promotion terms.
Offers by broker
$30 no deposit bonus, then 100% / 50% / 20% deposit bonus up to $5,000
New clients of XM's global entity on a Standard account. Not EU, UK, Australia, US or Canada.
50% credit up to $500 on the first deposit, then 20%, capped at $10,000
Clients of VT Markets' Mauritius entity. Not US, Singapore, India, Hong Kong, Russia or sanctioned countries.
No code. Free stocks worth $10 to $500 on the first deposit
New eToro accounts in the EU/EEA, UK, UAE, Australia and Singapore; a crypto version in the US.
No bonus or code. Swap-free trading and cashback for selected clients
All Exness clients get the same conditions; Exness Rewards is for selected clients only.
14 days of VIP4 pricing for new clients, promo codes for trading bonuses
Not US, Canada, Japan, New Zealand, EU/EEA, UK, Israel or sanctioned countries.
Affiliate links. calc.forex is free and funded by affiliate commissions: if you open an account through a broker link on this site, we may be paid by the broker at no extra cost to you. This never changes the numbers our calculators produce.
How forex bonuses work
Almost every forex bonus is credit, not cash. The broker adds it to your account as extra margin, so you can open larger positions or survive a deeper drawdown, but you cannot withdraw it. Profits made while trading with it are yours.
Withdrawing your own money shrinks the bonus. At XM and VT Markets the bonus goes down in proportion to what you take out, and at PrimeXBT a withdrawal reduces or removes it. If your equity falls below the bonus, it can be removed, which may close your trades.
A no deposit bonus, like XM's $30, lets you trade real prices without risking your own money. The catch is a minimum amount of trading before profits can be withdrawn.
Why there is no bonus in the EU, UK or Australia
Regulators banned bonuses on CFD and leveraged forex accounts for retail clients: ESMA across the EU in 2018, the FCA in the UK in 2019 and ASIC in Australia in 2021. They found that bonuses push new traders into larger, riskier positions. In the US, retail clients cannot trade CFDs at all.
That is why XM and VT Markets offer bonuses only through their international companies. eToro's welcome bonus is allowed in Europe because it is paid in real stocks, not as trading credit.
Do partner codes change anything?
A partner or referral code tells the broker which website sent you. At XM and VT Markets the bonuses are the broker's own and are the same with or without our codes; the codes do not change spreads, fees or leverage. calc.forex may earn a commission when you open an account this way.
Codes promising a bigger bonus than the one on the broker's own promotions page are a warning sign. So is any bonus described as withdrawable cash, or one that needs a trading volume you would never reach.
Forex bonus FAQ
Which forex broker has a no deposit bonus?
Of our partner brokers, XM offers a $30 no deposit trading bonus through its global company. It is not available in the EU, UK or Australia, and only profits made with it can be withdrawn.
Can you withdraw a forex bonus?
Almost never. Bonuses at XM, VT Markets and PrimeXBT are trading credit: profits made with them can be withdrawn, the bonus itself cannot, and withdrawing your own money reduces it.
Which broker has the biggest welcome bonus?
VT Markets gives 50% of the first deposit up to $500 and 20% on later deposits, up to $10,000 in total. XM's deposit bonus goes up to $5,000. Both are margin only.
Is there a forex bonus in Europe?
Not on CFD or forex trading: EU rules ban it for retail clients. eToro offers free stocks on the first deposit in the EU, UK and Australia, because that bonus is paid in real stocks.
Do I need a promo code to open an account?
No. eToro and Exness use no codes at all. At XM and VT Markets the codes are optional and the links on this site fill them in.
Risk warning: CFDs and leveraged forex are complex instruments and come with a high risk of losing money rapidly due to leverage. 55% of retail (non-professional) investor accounts lose money when trading CFDs with eToro; each broker publishes its own figure. Consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.