HERE IS A LIST OF FOREX BROKERS THAT OFFER ATTRACTIVE WELCOME BONUSES
Welcome Bonus Forex $30
Traders and brokers are involved in trading financial instruments to make maximum profits from the financial markets. Due to massive competition, brokers are always looking for creative ways to attract new clients (traders). One common marketing tactic among brokers is the promise of different types of bonuses (like a welcome bonus) which could be a fixed amount or a percentage of the trading deposit. A welcome bonus is usually credited to a trader's live trading account when they sign-up or deposit a minimum trading capital.
Reputable brokers who give welcome bonuses are generally very transparent and state their terms and conditions on their websites. It is important to note that a welcome bonus should not be the only criterium for choosing a broker, as there are more important criteria like a broker’s regulation and trading fees. Though a welcome bonus seems to be an attractive offer, not all reputable brokers actually offer welcome bonuses.
Different Types Of Welcome Bonuses
Some brokers promise to give traders a fixed or variable amount of live trading capital when they sign-up for a live trading account or when they make their initial live trading deposit. A welcome bonus is a very attractive offer that is sure to attract traders provided all other factors like regulation and trading fees are also suitable for traders. After a detailed analysis of some of the best forex brokers that accept South African clients, we want you to understand that there are different types of welcome bonuses and most times terms and conditions apply. There is the deposit welcome bonus and the no-deposit welcome bonus.
It is more common for the no-deposit bonus to be a fixed amount since traders do not have to deposit any money before receiving the bonus, all traders have to do is sign-up for a live trading account to receive the no-deposit welcome bonus. On the other hand, deposit welcome bonuses are usually a percentage of the initial live trading deposit that is made by a trader and there is usually a minimum live trading deposit that must be made before the trader qualifies to receive any deposit welcome bonus. Also, there is usually a maximum limit for the percentage-based deposit welcome bonus.
Best Forex Brokers with a $30 Welcome Bonus
Octa
Great Terms and Conditions
Terms and Conditions Apply. Trading Forex and CFDs entail risk. Your capital is at risk.
Octa is a reputable broker that provides traders with competitive trading conditions and an attractive welcome bonus. The broker provides an attractive 50% deposit bonus to all new traders. This bonus program offers traders the opportunity to enhance their trading funds by receiving an additional amount proportional to their deposit amount.
To claim the 50% bonus, traders only need to open a live trading account and make a deposit. The deposit will be available to them but not withdrawable. To make the bonus withdrawable, traders are required to trade a volume of lots equal to half the bonus amount. For instance, a trader depositing $400 would need to trade a minimum of 100 lots to withdraw a $200 bonus.
One of the standout features of Octa is its extensive collection of market products. On this broker site, investors can trade shares as real underlying assets alongside CFDs on forex, cryptocurrencies, commodities, indices, and stocks. The trading platforms available to use include MetaTrader 4, MetaTrader 5, and OctaTrader.
There are two trading accounts available to traders. These include the OctaTrader and MetaTrader 5 accounts. Octa offers tight spreads starting from as low as 0.6 pips on all its accounts, making it suitable for cost-conscious traders. Additionally, there are no commissions nor spread markups on any of these three accounts. When trading shares, the broker charges a commission of 15 USD or 0.1% per transaction, whichever is higher. For regulation, Octa operates under the supervision of the FSCA, the CySEC, and the MISA.
TradingMoon
Terms and Conditions Apply. Trading Forex and CFDs entail risk. Your capital is at risk.
TradingMoon has a $30 welcome deposit bonus that is available to all new traders. To get this bonus, traders need to register a real money account with TradingMoon and get verified. From there, traders need to deposit a minimum of $25 and that’s it. TradingMoon then deposits the $30 welcome bonus into the trader’s account. The $30 deposit bonus is not available to withdraw directly. However, any profits made from the bonus are withdrawable. Additionally, traders can use the deposit bonus as an extra margin in trading. However, traders can lose the welcome deposit bonus if there is no trading activity in their account for 90 consecutive days.
South African investors can use this deposit bonus to diversify their accounts using a variety of assets. TradingMoon offers to traders from South Africa exposure to a variety of market products. These include markets such as forex, stocks, commodities, indices, and cryptocurrencies. These markets are available to trade using various trading platforms that include MetaTrader 4, cTrader, and Moon Trader. This allows traders to pick the trading platform they best prefer.
Notably, the spreads charged on this broker site are within market standards and depend on the account a trader is using. The standard account has spreads as low as 0.7 pips for major currencies with no commission paid. On the other hand, the premium account features spreads as low as 0.2 pips with a commission from $35 per million traded upwards. In terms of regulations, the broker has license from the FSA in Seychelles.
XM.com
Great Terms and Conditions
Terms and Conditions Apply. Trading Forex and CFDs entail risk. Your capital is at risk.
XM.com is a popular broker with over 3.5 million clients from 196 countries including South Africa and is regulated by CySEC in Cyprus, FCA in the United Kingdom, and FSC in Belize. Traders from South Africa are allowed to trade with a ZAR account. XM.com is one of the few reputable brokers that offer a no-deposit welcome bonus to new clients. All you have to do to qualify for this $30 no-deposit welcome bonus is to register and open a live trading account and there is no need to deposit money before you’ll be credited with the welcome bonus. (T&C Apply).
Also, XM.com offer a two-tier deposit welcome bonus which is currently 50% and 20%. The first bonus is 50% of your initial trading deposit and can be up to $500 or its currency equivalent. While the second bonus is 20% of your initial trading deposit and can be up to $4,500 or its currency equivalent. This two-tier bonus is applied to deposits from just 94 ZAR. Please note that on both bonuses terms and conditions apply, but they are pretty fair.
FXGT
Terms and Conditions Apply. Trading Forex and CFDs entail risk. Your capital is at risk.
FXGT offers traders multiple welcome bonuses. First, there is the 50% welcome bonus with a maximum bonus value of $500. This bonus is applied on your first deposit only. Second, there is the Unlimited Loyalty Bonus which is 25% bonus for every deposit you make. This bonus is called unlimited because when you should exhaust the $10,000 limit, they will reset it back to zero.
Notably, the welcome bonuses are only available on the Mini and the Standard+ accounts. As expected, traders cannot withdraw this welcome bonus.
FXGT gives traders access to a wide variety of trading instruments. These include CFDs on forex, cryptocurrencies, equity indices, stocks, synthetic cryptocurrencies, precious metals, and energies. These trading instruments are available on two main trading platforms which include MetaTrader 4 and MetaTrader 5. The spreads on both the Standard+ account and the Mini account start from as low as 1.0 pips with no commission charged.
On regulations, this broker is under strict supervision of the FSCA in South Africa and the FSA in Seychelles. This suggests that the broker is committed to following the financial laws of the countries in which it operates. Unfortunately, the bonus is not available in Africa at the moment, only in Japan, Malaysia, Vietnam, and Thailand.
AvaTrade
Terms and Conditions Apply. Trading Forex and CFDs entail risk. Your capital is at risk.
AvaTrade is a reputable broker that is regulated by the FSCA in South Africa, ASIC in Australia, and DBI in Ireland. New traders with AvaTrade may be eligible to receive a welcome bonus on their initial live trading deposit. But unlike the XM $30 No Deposit Bonus, this is a deposit bonus. This means you have to deposit your money to receive the welcome bonus. This welcome bonus is often available and may have an expiry date. Also, eligibility for this deposit welcome bonus depends on jurisdiction but South African traders are qualified. Currently, the minimum live trading deposit to qualify for this welcome bonus offer is $200 and the welcome bonus is 20% of the initial deposit.
This means that the minimum welcome bonus is $40 on a $200 initial live trading deposit. If your Initial live trading deposit is more than $10000, you will need to discuss with your account manager to negotiate your welcome bonus. All live trading profits made on this welcome bonus can be withdrawn but the welcome bonus itself can not be withdrawn. (T&C Apply). If you already have a live trading account with AvaTrade, you can contact your account manager to know about other trading bonuses you may qualify for.
Benefits of Welcome Bonus Forex Brokers
A welcome bonus is a type of trading bonus that is usually only available to new clients. The terms and conditions for withdrawing your bonus differ from a broker to broker and the best practice is to verify this information directly with your broker. However, most brokers let you withdraw all profits made on all types of welcome bonuses- deposit and no deposit.
Also, all reputable brokers we found state that you can not withdraw the actual welcome bonus itself. If you already have a live account with a broker, you do not qualify for a welcome bonus but you can contact your personal account manager to know other trading bonuses that you may qualify for.
We can only mention reputable brokers because they are trusted by their clients. Therefore, XM.com seems to be one of the best brokers that offers a $30 no-deposit welcome bonus. As a forex trader, XM.com will give you a $30 free welcome bonus without requiring you to make any deposit. When you decide to make your first live trading deposit, XM.com also offers a deposit welcome bonus which is usually a percentage of your initial trading deposit.
There are so many forex brokers and choosing the best one that fits your unique trading needs can be overwhelming. A welcome bonus (deposit or no deposit) is an attractive offer but it is more important to check out a broker’s regulatory licenses and trading conditions. XM.com and AvaTrade are some of the best forex brokers (who accept South African clients) that give welcome bonuses, are licensed by reputable regulatory bodies, and have fair trading fees.