Since the development of foreign exchange trading, major brokers have offered generous foreign exchange welcome bonuses to enhance traders' trading skills.。

Forex brokers use various methods to attract new clients, and promotions are one of them。Such promotions can be used to get gifts, extra money, free analytics services and more。The bonus creates a "win-win" for Forex brokers and their clients, so it remains one of the most popular incentives。

The Forex Welcome Bonus is a form of broker promotion that allocates a specific percentage of deposit increments whenever a customer initiates the first deposit on their trading account。This type of bonus is usually the highest among Forex bonuses and may range from 50% -100% -200%。

For example, suppose a forex broker offers a 100% welcome bonus to its clients from a deposit account。A client deposits $2,000 and the broker rewards him with an additional $2,000, bringing the account balance to $4,000。

The process of getting the bonus is very simple, first register on the broker's website to open a trading account, verify the account, inject capital, get the bonus, and finally meet the conditions for withdrawing the bonus。

Brokers offering the best welcome bonuses in 2023

After understanding the meaning of the welcome bonus, let's learn more about the top Forex welcome bonus in 2023:

• XM: 100% Welcome Bonus and $30 Zero Deposit Bonus。Tickmill: $30 welcome bonus for traders who sign up for a special account。OANDA (BVI): Welcome bonus up to $5,000。FP Markets: $30 welcome bonus for MT4 standard account。Below you can find more information on how to receive each bonus and the terms and conditions:

XM

The broker offers clients a welcome bonus of up to 100% and is available to all traders, regardless of the type of trading account they open。To receive the Forex Welcome Bonus from XM, traders need to first register on the broker's website, complete validation, recapitalize the account and contact technical support。

Upon completion of the process, the trader will receive a 100% deposit bonus。Please note that $5,000 is the maximum amount of the Welcome Bonus offered by XM。Profits earned from trading with the bonus will be credited to the real trading account.。

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XM Founded in 2009, it is a company called Trading Point of Financial Instruments Ltd..A member of an online brokerage firm。To serve customers worldwide, the company has split into XM Australia and XM Global, as well as XM Cyprus。Each member has a different head office and license, XM Australia is registered under the Australian Securities and Investments Commission (reference number: 443670), XM Worldwide is registered under the International Financial Services Commission (60 / 354 / TS / 19), and XM Cyprus is registered under the Cyprus Securities and Exchange Commission (reference number: 120 / 10).。

XMis one of the more experienced brokers in the world of online forex trading today。Since its inception, the broker has undergone many changes, including the addition of an ultra-low account and webinar function, which supports 19 different languages with 35 local instructors in each language。

In terms of trading instruments, XM is known for its diversity of asset providers, ranging from foreign exchange, commodities, CFDs for equity indices, precious metals, energy, to equities。XM prides itself on being the ideal broker to execute trades, providing a statistic that 99.35% of orders executed in less than a second。Trading at XM also offers a strict no-re-quote policy, no virtual trader plug-ins, no rejection of orders, real-time market execution, and the option for traders to place orders online or over the phone.。

In the Ultra-Low account, the spread of all major currency pairs can be as low as 0.6 points, while the spread of other accounts usually starts at 1 point。XM chose to limit their leverage to a scale of 1: 888, rather than offering a maximum leverage of 1: 500 or 1: 1000 (whole numbers), a unique number now widely recognized as a trademark of XM.。

To protect client funds in extremely volatile situations, XM offers negative balance protection for each type of account。Deposits for micro and standard accounts start at $5, while Ultra-Low accounts require a minimum deposit of $50。Traders who open an account at XM can get conditions similar to a penny account environment in a micro-account, where each lot has a contract size of only 1,000 units.。If you use the smallest number of lots on the MetaTrader platform, which is 0.01 lots, then the trader can trade only 10 units per trade。

For deposits, XM applies zero-fee deposits in most of its available payment methods。Traders can choose to deposit and withdraw money by wire transfer, credit card, and the most popular electronic payment options such as Skrill, Neteller, and FasaPay.。

XMIslamic accounts are also available for Muslim traders who comply with Sharia law that prohibits the use of interest-bearing overnight swaps for each currency pair.。In order to provide their customers with the best trading experience, XM has opened access to MT4 and MT5 platforms, each with more than 6 display formats (PC, Mac, Multiterminal, WebTrader, iPad, iPhone, Android and Android tablets).。

Overall, there is no doubt that XM has gone global, with its deep commitment to providing trading services on a global scale available in more than 15 languages.。In addition to simplifying the trader's experience through mainstream trading platforms and high-quality trade execution, XM is open to all types of traders, from small capital traders to more experienced traders who prepare large deposits.。Even a penny trading environment for traders if they choose to register under a micro account。

For their global approach, XM has ensured that traders from various countries can easily access their services.。This has resulted in different domain names for traders in specific jurisdictions。

Traders must meet volume requirements to withdraw bonus funds, i.e. trade a specific lot within 30 days。The broker will be credited a bonus of $10 per trading lot。Therefore, if a trader receives a bonus of $1,000, it should be divided by 10。Once the trader's trading volume reaches 100 lots, the bonus can be withdrawn。

XM also offers a $30 zero deposit bonus。As of press time, the broker is currently running a $1 million tenth anniversary promotion that will run through June 2023.。The broker randomly selects an account each month and the trader has the opportunity to win multiple prizes。

Tickmill

Tickmill offers $30 welcome bonus to new customers who sign up for a live trading account。Getting this bonus is completely free and does not require the client to deposit any funds, just open an account to get it。

Tickmill's welcome bonus for new customers gives new traders the opportunity to experience Tickmill's various first-class services for free, such as a smooth trading experience, high-speed execution of orders, and first-class trading tools and resources。

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Tickmill is an award-winning global ECN broker licensed and regulated by the Financial Conduct Authority (FCA), Cyprus CySEC and the Seychelles FSA。Founded in 2014, the company offers a variety of trading services to retail and institutional clients with a focus on foreign exchange, equities, commodities, CFDs and metals.。

For traders who prioritize spread value in broker selection, Tickmill offers premium services with low spreads, from 0.From 0 o'clock。

The London-based company's mission is to provide clients with the best possible trading environment so that they can focus on trading and become successful traders, such as offering 0.15 seconds of quick execution。With this setup, Tickmill gets CFI.Best Forex Executive Broker Award 2019 from co Awards。In addition, Tickmill has been awarded "Best CFD Broker in Asia 2019" by International Business Magazine, "Best Forex Broker in Asia" by Forex Awards and "Most Transparent Broker in 2019."。

After registering with Tickmill, traders can choose the most desirable asset among the 60 currency pairs available for trading。If the trader is not yet sure whether to open a real account, Tickmill recommends learning to trade through a demo account。

There are also educational features such as webinars, seminars, e-books and video tutorials。Traders can use all these facilities to increase their knowledge about trading and the financial markets in general。If traders already have enough knowledge, they have a greater chance of consistently earning profits。

For traders who sign up for a real account, they can choose to offer three types of accounts, including professional accounts, classic accounts and VIP accounts。Traders can take 0.01 minimum order opening。This applies to all types of accounts。

The company offers advice to traders who are still confused when choosing an account。For example, for novice traders, Tickmill encourages customers to opt for classic accounts。It provides the best conditions for fast order execution while enabling traders to use almost any trading strategy。In addition, the account does not charge a trading commission, so the trader only pays the buy / sell spread。In addition to the above three main accounts, Tickmill also offers Islamic accounts (free of overnight interest).。

At Tickmill, however, traders can only use MetaTrader 4 as their trading platform.。Although not much compared to other brokers, the Tickmill platform provides a user-friendly and highly customizable interface with sophisticated order management tools to help traders control positions quickly and effectively。

One-click EA integrated on MT4 enhances the convenience of Tickmill trading。Traders will automatically receive stop loss and take profit calculations; most importantly, Tickmill provides VPS hosting for automatic traders who do not need to worry about technical issues such as Internet connection。

They offer a variety of third-party research solutions, including Autochartist, a popular pattern recognition software that uses automated technical analysis to make predictions and generate trading signals.。Autochartist is available in the portal of Tickmill and as a platform plug-in for MetaTrader 4。

As a Tickmill customer, traders can deposit and withdraw money using multiple payment methods including Visa, Mastercard, Bank Transfer and Skrill。Tickmill accepts deposits and withdrawals in 4 currencies, including USD, EUR, GBP and Polish Zloty。

Overall, Tickmill is a competitive spread broker and offers a safe trading environment with its regulated entities located in three different jurisdictions.。Although the trading platform is not great, the analytical tools they provide to meet the needs of traders meet the standards of retail brokers。

The Welcome Bonus is only available for certain types of accounts offered by Tickmill, such accounts are not available for EU citizens and cannot use EA。

Customers can choose to increase or decrease the leverage of the Welcome Account。However, the account has a limited trading time and is only retained for 60 days from the date of opening.。Trading will stop once the 60-day time limit ends, but the account will remain accessible for 14 days so that traders can withdraw profits.。

OANDA (BVI)

OANDA (BVI) is a trusted global broker offering Welcome Bonus promotions for up to $5,000 as long as clients meet the necessary qualifications。Customers interested in this bonus must open an account and deposit $1,000 to $50,000 to receive a bonus of $500 to $5,000。

The process starts with opening a live account, and after completing the process with all the necessary documents, the customer must deposit a minimum of $1,000 to receive the bonus。Welcome Bonus if the client meets the broker's expected minimum trading volume requirements within 45 days。

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OANDA can be an option for traders looking for a precision broker。This is because OANDA is a broker that offers 5-digit accuracy quotes and active price movements that follow market developments.。The broker's orders are also executed faster。

It provides benefits for novice traders because they can use a calculation system based on currency value for smaller trading volumes, which is different from other brokers that use lot systems。

OANDA was founded in 1996 by Dr. Michael Stumm, Lecturer in Computer Engineering at the University of Toronto, Canada, and colleagues at The Olsen Ltd, one of the leading econometric research institutes..Dr. Richard Olsen co-founded the institution。Their headquarters are located in San Francisco, USA。

OANDA Branches Everywhere。Some of these offices are located in the UK, Singapore, Japan and Canada。With the distribution of the number of offices, OANDA increasingly attracts the attention of global customers。

OANDA's companies are registered in several well-known jurisdictions in the field of financial transactions。They are regulated by the US CFTC and NFA, UK FCA, Australian ASIC and others。Traders no longer need to worry about security when trading OANDA。However, these advantages make OANDA's trading rules more stringent than other brokers。

For example, OANDA only allows a maximum leverage of 1: 20 because the rules in the United States and Japan do not allow higher than that leverage。In addition, the registration process is more complicated due to various additional requirements that other forex brokers do not submit。Most importantly, hedging is not allowed in one trading account, as the client must open another account to hedge。

Nevertheless, OANDA is known as a leading broker and offers many advantages。OANDA faces greater market risk during periods of price volatility, such as economic and political news announcements。When market spreads increase or decrease, their pricing engine expands or narrows spreads accordingly。In this way, traders can be more quickly updated on market price movements。

Prices in the market move very quickly, especially when news releases have a large impact on market volatility。Brokers often exploit this situation to take advantage of clients by re-quoting。However, traders do not need to worry about additional fees when trading with OANDA。

Firms never withdraw re-quotes, so traders get maximum profit。When traders cannot monitor open positions, they can set take profit orders to lock in profits and stop loss orders to help prevent further losses。

As an experienced and well-known online forex broker, OANDA is committed to maintaining an efficient trading environment, reducing delays and providing tools to help clients manage acceptable levels of slippage.。

With OANDA's fast and reliable trading platform, customers can trade at 0.Execute within 012 seconds。This is suitable for traders who choose a broker based on execution speed。

Due to this outstanding executive service, it is no surprise that Oanda has won many awards, including the world's best retail forex platform award in the prestigious e-FX awards.。The broker was also rated number one for consistency in executing trades on quote, execution speed and platform reliability.。

There is no minimum deposit or minimum balance requirement to open an OANDA account, both deposits and withdrawals can be done easily。OANDA offers multiple payment method facilities including Paypal, wire transfer, credit and debit cards。Traders can adjust according to the region they live in。

OANDA offers more than 100 trading instruments, including 71 currency pairs, 16 indices, 8 commodities (Brent, copper, corn, natural gas, soybeans, sugar, etc.), 6 bonds and 23 metals.。

fxTrade and MetaTrader platforms available on OANDA。These platforms are available for desktop and mobile devices。Another advantage is that they have OANDA technical analysis in cooperation with Autochartist technical analysis provider。

With these platforms, customers can more easily monitor price movements and automatically identify patterns created on charts and receive alerts when waiting patterns appear。The technology can be used for free。

In summary, OANDA is the ideal broker for traders who need fast execution backed by years of experience.。The firm is also a good choice for those looking for a broker with good regulation and flexible trading and deposit conditions。

FP Markets

FP Markets offers a $30 welcome bonus, but only for new clients who choose the broker's MT4 standard account。Customers can get the welcome bonus details directly by phone or email。Therefore, only new customers who have completed all compliance and account opening processes are eligible for this bonus。

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Maintaining an overnight position will not result in overnight / rollover fees reducing your income, so you don't have to worry about。FP Markets offers the most competitive swap rates in the industry by introducing swap points in the form of real-time swap rate listings on the MT4 and MT5 platforms。For example:

• ACWI: long position is -5.00, the short position is -2.50。
  ADAUSD: long position at -20.00, with a short position of -20.00。
  AGG: long position is -5.00, the short position is -2.50。
• Each customer can only receive one welcome bonus, unless otherwise stated, this offer cannot be used in conjunction with other offers from FP Markets。In addition, FP Markets' welcome bonus is only available for a specified period and amount and will not be subject to any extension or modification。

Advantages and Disadvantages of Forex Welcome Bonus

The welcome bonus has two sides, so traders need to consider multiple factors before choosing a broker's bonus。

Advantages

It is an additional source of financing for traders, especially those who cannot afford large deposits。

Bonus funds can be used to cover slippage or losses that a trader may incur while trading。

Disadvantages

Forex Welcome Bonus with special conditions that may limit traders。

Bonuses can only be withdrawn if certain conditions are met.。

Trading with forex welcome bonuses carries the risk of emotional trading that could trigger a series of illogical trading decisions。