- A promotion is not portable across entities or countries
- EU and UK retail CFD rules restrict trading inducements
- Bonus credit is not the same as withdrawable cash
- Withdrawal, expiry and qualifying-volume clauses can matter more than the headline percentage
- Save the dated terms shown during enrolment
Quick Decision Framework#
Short Answer
There is no reliable universal ranking of Forex bonuses. Offers change by legal entity, country, account and date. Verify the regulator and the exact official terms shown to your account before depositing. Treat every worked calculation in this guide as hypothetical.
Detailed Explanation
XM, HFM, FBS, Tickmill, JustMarkets and other groups operate through multiple companies. A promotion on a global page may be unavailable under the entity serving an EU or UK resident. ESMA’s CFD measures restrict incentives to retail CFD clients; the FCA’s UK rules require firms to stop cash or other inducements that encourage retail CFD trading. Bonus credit is often not withdrawable cash. Withdrawal, expiry and qualifying-volume clauses can matter more than the headline percentage.
Example
Assume—not as a statement about any broker—that a promotion gives $100 trading credit, requires 20 qualifying lots, and incremental round-turn cost is $7 per lot. Incremental trading cost is $140, so net before market loss is −$40. Two 100% match offers are not equivalent if one removes credit on withdrawal and the other locks the deposit until volume is done.
Common Mistake
Counting the entire credit as cash while ignoring qualifying volume, expiry and what happens to credit when you withdraw. Assuming a search result or old PDF applies to a newly opened account.
Professional Tip
Identify the contracting entity and regulator, open the official promotion page from the broker domain, and save the dated terms, URL, entity name and support confirmation before funding. Calculate net value under your normal position size; if the condition forces larger trades, skip the promotion.
Short answer: do not rank a volatile contract by its headline#
There is no defensible worldwide “best Forex bonus” table. XM, HFM, FBS, Tickmill, JustMarkets and other groups can operate through multiple companies. A promotion visible on a global page may be unavailable under the entity serving an EU, UK or other resident.
ESMA’s CFD measures include a restriction on incentives offered to retail CFD clients. The FCA’s permanent UK rules require firms to stop offering cash or other inducements that encourage retail consumers to trade CFDs.
Detailed explanation: compare contractual conditions, not marketing labels.
Example — hypothetical: two offers both advertise a 100% match. Offer A removes credit proportionally when funds are withdrawn; Offer B locks the deposit until a qualifying volume is completed. They are not economically equivalent.
Common mistake: assuming a search result, affiliate page or old PDF applies to a newly opened account.
Professional tip: save the exact terms, URL, date, entity name and support confirmation before depositing.
What the official pages establish#
| Provider or authority | What the primary source establishes | What it does not establish |
|---|---|---|
| ESMA | EU product-intervention framework restricts CFD incentives | Availability outside the EU |
| FCA | UK retail CFD firms must not offer trading inducements | Terms of an offshore group entity |
| XM | Official terms documents can define eligibility, non-withdrawable credit and amendment rights | That one PDF applies to every XM client |
| HFM | The official promotions directory lists current campaigns and links to terms | Eligibility for every HFM entity or country |
| FBS | The official legal-documents page is the starting point for contractual documents | That an older campaign remains active |
| Tickmill | Its General Deposit Reward terms expressly limit availability to certain countries and an identified entity | A group-wide offer |
| JustMarkets | The official promotions directory lists promotions currently published on that site | Account-level eligibility without confirmation |
The live directories contained provider-specific promotions when checked. That evidence is intentionally not converted into a sales ranking: the terms are time-sensitive and often entity-specific.
The eight-point bonus due-diligence table#
| Check | Question to answer before funding | Evidence to retain |
|---|---|---|
| 1. Contracting entity | Which legal company will hold the account? | Client agreement and account-opening email |
| 2. Regulator | Which authority supervises that exact company? | Regulator register entry, not a group logo |
| 3. Country eligibility | Is your residence expressly included or excluded? | Current terms and written support response |
| 4. Account eligibility | New client only, one account, selected account type or opt-in? | Offer screen and account identifier |
| 5. Nature of benefit | Cash, trading credit, fee rebate, points or prize? | Definition section in the terms |
| 6. Conversion | Can any credit become cash, and by what formula? | Worked formula and qualifying-instrument rules |
| 7. Withdrawal effect | What happens to credit, profits and deposit when you withdraw? | Withdrawal and cancellation clauses |
| 8. Time and discretion | Expiry date; amendment, abuse and termination powers? | Dated PDF or screenshot |
How to test “real value” without inventing a ranking#
Use this framework only after obtaining the applicable terms.
Hypothetical formula:
net promotion value = withdrawable benefit − extra spread/commission − financing cost − tax − expected loss caused by extra risk
Hypothetical example#
Assume—not as a statement about any broker—that a promotion gives $100 trading credit, requires 20 qualifying lots, and your incremental round-turn trading cost is $7 per lot.
- Credit shown: $100
- Incremental trading cost: 20 × $7 = $140
- Net before market loss, financing and tax: −$40
The example shows why a larger headline can have negative economic value. It is not current pricing, not a recommendation and not a provider term.
Common mistake: counting the entire credit as cash while excluding the trading cost needed to satisfy the condition.
Professional tip: calculate the result under your normal position size. If the condition requires larger trades, the correct decision may be to ignore the promotion.
Terms that need special attention#
Trading credit versus cash#
Short answer: credit may support margin without being withdrawable.
Read separate definitions for “bonus,” “credit,” “balance,” “profit,” “cashback,” “reward currency” and “prize.” Do not assume profits remain withdrawable after a prohibited strategy, early withdrawal or account inactivity.
Volume requirements#
Short answer: confirm both the formula and what counts.
Check whether “lot” means standard lot, round turn or one side; whether symbols carry different weights; minimum holding time; excluded hedged trades; and the deadline.
Withdrawals and internal transfers#
Short answer: a withdrawal can cancel credit or alter eligibility.
Check proportional removal, full cancellation, deposit locks, profit rules and whether an internal transfer is treated as a withdrawal.
Entity and regulation#
Short answer: group regulation is not account regulation.
A group may list several licences, but your protections follow the company in your contract. Verify that company in the regulator’s own register. EU or UK retail protections should not be inferred for an account contracted elsewhere.
A neutral comparison worksheet#
| Item | Offer A | Offer B | No promotion |
|---|---|---|---|
| Contracting entity verified | |||
| Regulator register verified | |||
| Terms dated and saved | N/A | ||
| Benefit immediately withdrawable | N/A | ||
| Required qualifying volume | 0 | ||
| Estimated spread and commission | |||
| Expiry or inactivity deadline | N/A | ||
| Withdrawal consequence | None | ||
| Expected net value at normal risk | Baseline |
Do not complete this worksheet from a comparison site. Use the official terms displayed to your account.
Red flags#
| Claim or practice | Why it matters |
|---|---|
| “Guaranteed withdrawable bonus” without linked terms | The key contractual conditions are missing |
| A licence logo without the serving company name | Group credentials may not cover your account |
| Pressure to deposit before reading terms | Prevents informed consent |
| Requirement to trade unusually large volume quickly | Encourages risk and transaction costs |
| Support refuses to identify the entity in writing | You cannot verify legal responsibility |
| Crypto-only funding plus unclear withdrawal policy | Recovery and complaint routes may be weaker |
For broader checks, read Are Forex bonuses legitimate or a scam? and Forex bonus terms explained.
Risk warning: Forex and CFDs are leveraged products and can cause rapid losses. A promotion increases neither your forecasting ability nor your expected return. Choose a provider for legal protection, execution, costs and withdrawals—not for a headline reward.
Comments 4
The lot requirement comparison table is exactly what I needed. Most bonus pages just show the headline number without revealing how many lots you need to trade before withdrawing. This saved me hours of reading terms and conditions.
I'd be careful with any bonus that requires more than 5 lots per $100 bonus. Did the math on a $500 bonus once — I'd need to trade over 25 standard lots, which at my position size would take months and cost more in spread than the bonus is worth.
Add a useful note for other traders. We review comments before publishing.