10 Forex brokers offering free bonuses in 2026: Choose wisely or lose out?

If you’ve just started in the Forex world or are looking for a new forex broker, the term “free bonus” might seem like an offer you shouldn’t refuse. But before rushing to register, you need to understand one important point: in the Forex market, nothing is truly free. Hidden conditions behind the bonus can turn that “free” offer into a more expensive investment than you might expect.

This article will help you explore the top 10 forex brokers in 2026, analyze who each bonus is suitable for, and highlight the conditions to watch out for.

Why Do You Need to Clearly Understand Forex Broker Bonuses?

First, let’s understand what a forex broker bonus is. It’s not cash you can withdraw immediately, but a “trading credit” provided by the broker to increase your margin for trading.

Why do brokers give away free bonuses? The answer is to attract new clients and stimulate trading volume. The more you trade, the more spreads and commissions the broker earns. Bonuses are thus an investment in long-term customer retention.

3 Types of Bonuses: Know the Differences

No-Deposit Bonus

This is a dream for beginners without capital. Register, verify your identity, and you’ll get $20-$50 to trade without depositing a single baht.

For example, XM offers a $30 bonus, and Tickmill also offers $30. It’s as easy as giving away real money, but… withdrawal conditions on the profits may make that “free” bonus less free.

Deposit Bonus

When you decide to deposit funds, some brokers will offer an additional percentage of your deposit as a bonus, ranging from 10% to 120%, depending on the broker and campaign.

For example, deposit $500 and get a 100% bonus = your account will have $1,000 to trade with. It looks like your trading power doubles.

Tiered Welcome Bonus

Nowadays, advanced brokers no longer give one-time bonuses. They design tiered bonuses to guide new traders through familiarization with the platform. For example, Mitrade offers $10 just for logging in, $20 after registration, $30 after verification, and $40 after the first deposit, totaling $100.

This approach is clever because it compels you to complete each step, creating engagement with the platform rather than just handing out a lump sum.

Bonus Conditions: 4 Common Traps That Traders Often Fall Into

1. Trading Volume Requirements (Lot Turnover)

This is often the most burdensome condition. Most brokers require you to trade a certain number of lots before you can withdraw profits.

For example, a $30 bonus might require trading 1 lot of EUR/USD with a $10 spread. You’d pay $10 in spread costs to meet the condition, which the broker has already profited from, leaving you with only $10 in profit after fulfilling the requirement.

2. Profit Cap

Some brokers (like Tickmill) limit the maximum profit you can withdraw, e.g., no more than $100, even if your real profit is $500. The excess profit just disappears.

3. Bonus Cancellation

Usually, when you withdraw your own funds (your deposits), all bonuses are canceled immediately. Worse, if you have open positions, the sudden loss of the bonus (margin reduction) can trigger a margin call or stop out.

4. No Automated Trading (EA Ban)

Some brokers prohibit the use of Expert Advisors (EAs) on accounts with bonuses, forcing you to trade manually. This restriction can be a significant obstacle for traders who want automated systems.

10 Forex Brokers Offering Free Bonuses in 2026

1. Mitrade – $100 Bonus Step-by-Step: Choose First, Free!

Mitrade is an Australian broker (ASIC licensed) known for its “Reward Program” instead of a one-time bonus. It’s divided into 4 steps:

• Step 1: Log in = $10
• Step 2: Complete registration = $20
• Step 3: Verify identity = $30
• Step 4: First deposit = $40
• Total: $100 credited

This system is good because it encourages you to “try trading” at each step, helping beginners better understand the platform.

Unlocking condition: Trade the specified product to complete the lot requirement, then the bonus converts to real money. For example, 0.1 lot of gold (XAUUSD) unlocks $2.

Pros: User-friendly app, clear mission system, 4.6/5 stars on Trustpilot.

Cons: Must complete all steps, cannot withdraw ununlocked bonus.

Best for: Beginners wanting to learn gradually.

2. XM – $30 No-Deposit Bonus: The Classic

XM is a well-known global forex broker. The no-deposit bonus of $30 is permanent. Register + verify = get $30 instantly, no deposit needed.

Withdrawal condition: Trade at least 0.1 standard lot (or 10 micro lots) with at least 5 orders.

Pros: Bonus never expires as long as the account is active, profits can be withdrawn, regulated by CySEC + ASIC.

Cons: No multiple accounts with the same IP, must trade at least 5 orders.

Best for: Beginners wanting to “try for real” without risking their own money.

3. Tickmill – $30 Bonus + Easy Conditions: For Low-Spread Lovers

Tickmill is FCA (UK) regulated, known for tight spreads and fast servers. The $30 bonus is in a separate “Welcome Account” for free trading.

How to get the bonus: Create a Welcome Account, verify documents = get $30 trading capital immediately.

Pros: Low spreads, EA allowed on bonus account, FCA regulated (trustworthy).

Cons: Withdrawal process is complicated (must open a live account + deposit $100 to transfer profits), profit cap around $30-$100.

Best for: Scalpers, traders needing fast server response.

4. RoboForex – $30 Bonus + Withdrawable Profits

RoboForex, protected by FSC (Financial Commission) up to €20,000, offers a $30 welcome bonus for first deposits of at least $10.

How to get the bonus: Open Pro/ProCent account → verify → deposit $10+ → receive email code to activate bonus.

Pros: Profits can be withdrawn without lot restrictions, bonus can be dragged, FSC protection.

Cons: Minimum deposit of $10 (not entirely free).

Best for: Small capital traders, risk-averse traders.

5. FBS – 100% Deposit Bonus: For Aggressive Traders

FBS is an Asian-style broker famous for high leverage and bonuses. The 100% deposit bonus means deposit $100 = $100 bonus = $200 trading capital.

Key point: FBS bonus is Margin Booster, not withdrawable. It helps open larger lots, and profits can be withdrawn.

Condition: If you withdraw your deposit, or if your equity drops below the bonus amount, the bonus is canceled.

Pros: Large bonuses, suitable for aggressive traders, regulated by ASIC + CySEC.

Cons: Bonus cannot be withdrawn, canceled if equity falls below bonus.

Best for: Traders seeking high leverage.

6. FxPro – $50 Refer-a-Friend Bonus (Withdrawable!)

FxPro’s highlight isn’t a bonus per account but a “Refer a Friend” program. Referrers get $50 (cash, withdrawable!), and friends also get $50.

Conditions: Referrer must trade 3 lots + deposit $100; friend must do the same within 30 days.

Pros: Cash reward, FCA + CySEC regulated, 3.8/5 Trustpilot.

Cons: Need to find friends to sign up, friends must meet trading conditions.

Best for: Traders with community or social groups.

7. HFM – 100% Deposit Bonus (Limited Time): High Leverage

HFM, loved by Thai traders, regulated by FSCA, FCA, FSC, CySEC, offers up to $200 bonus during promotions.

Warning: Sometimes, to unlock a $100 bonus, you need to trade 50 lots, which is quite demanding.

Pros: Additional programs (Loyalty, Referral), real account competitions.

Cons: High trading volume needed to unlock, some bonuses expire.

Best for: High-volume traders.

8. IUX Markets – 35% + 25% Bonuses: Multiple Rounds

IUX Markets is a rising broker in Thailand, offering a two-tier deposit bonus: 35% on first deposit up to $300, then 25% on subsequent deposits.

Limit: Total bonus up to $3,300.

Note: Bonuses are used to increase margin, cannot be withdrawn, but profits can.

Pros: Leading margin support, fast deposits/withdrawals, regulated by ASIC + FSC.

Cons: Withdrawal conditions are hidden in fine print.

Best for: Day traders, traders needing margin support.

9. GMI Markets – 15%-20% Deposit Bonus: Reliable Server

GMI Markets, favored by Thai traders, regulated by FCA + VFSC, offers 15%-20% deposit bonuses per deposit, with total up to $5,000.

Pros: Stable servers, quick bank deposits, bonus can be dragged, good customer service.

Cons: Some bonuses have expiry dates, spreads are not the lowest.

Best for: Safe traders, those needing drawdown buffers.

10. JustMarkets – 120% Bonus: For Big Portfolios

JustMarkets is known for high bonuses: 50% for deposits ≤$100, 100% for $100+, 120% for $500+, up to $40,000.

Caution: Conditions require you to keep the bonus; withdrawing funds (even small amounts) cancels the bonus immediately.

Pros: High bonus percentage, large limits, regulated by CySEC + FSA.

Cons: Bonus disappears upon withdrawal, complex conditions.

Best for: Large portfolios, overlot traders, those who don’t plan frequent withdrawals.

Quick Comparison Table

Beware of “Bonus Traps”: 4 Common Pitfalls for Beginners

1. The Evil Lot Turnover

A $30 bonus might require trading 3-5 lots. If the spread per lot is $10, you pay $30-$50 in spread costs just to unlock the bonus, which could wipe out your profit or even cause losses.

2. Profit Cap - “Small Fish” Profits

If a broker states “withdraw up to $50 profit from bonus,” even if you make $500, you can only withdraw $50. The rest just vanishes.

3. Bonus Cancellation - Instant Loss of Bonus on Withdrawal

The most critical point: withdrawing your own funds (deposits) can cancel the bonus immediately. If you have open positions, margin calls or stop outs can happen suddenly.

4. No EA Usage

Some brokers prohibit using EAs on bonus accounts, forcing manual trading. For those wanting automation, this is a significant restriction.

Choosing a Forex Broker with Free Bonuses: A Wise Decision

If you want to start with Mitrade’s tiered system, it’s a smart choice because it encourages learning and understanding the platform. If you lack funds, XM or Tickmill offering $30 without deposit are good options.

For traders with small capital needing margin support, RoboForex is suitable because profits are withdrawable without heavy lot requirements.

But most importantly, don’t decide solely based on high bonuses. Sometimes, the conditions are worse than the benefits. The best broker choices depend on regulation, server stability, and customer service, not just bonus offers.