What a trading bonus is
A trading bonus is credit that a platform adds to your account, either on top of a deposit (a deposit bonus) or without any deposit (a no deposit bonus). It usually looks like extra money. In practice it is a conditional credit. You can trade with it, but you usually cannot withdraw it, and sometimes not your own profit either, until you meet the conditions in the terms.
This is a consumer-protection guide. It does not recommend any offer. Leveraged forex and CFD trading can lose money fast, and a bonus does not change that.
Warning signs of an investment scam
- Promises of “guaranteed profit” or a fixed monthly return.
- Pressure to deposit now: “the bonus ends today”, “last places”.
- No licence, or a licence number the regulator's own register does not show.
- A “manager” or “mentor” who trades for you or asks for your login.
- Payments to a personal card, a private crypto wallet or a third party.
- Withdrawals blocked until you pay a “tax”, a “fee” or an “insurance”.
- First contact on social media, in a messenger or on a dating app.
- A website address that differs slightly from the real one.
Common forex bonus terms
Volume requirements
Most bonuses require a trading volume before the bonus, or the profit made with it, becomes withdrawable. Volume is the total size of the trades you open, measured in lots. A lot is a standard trade size. The terms usually link the required volume to the size of the bonus.
Volume requirements push you to trade more often and in larger size than you might otherwise choose. Each trade costs spread and possibly commission, so costs rise. A high volume target also encourages overtrading, which is a well-known way accounts get emptied. Our trading psychology and risk management guides cover why.
Withdrawal locks
Look for these clauses:
- Any withdrawal cancels the bonus. Taking out even part of your own deposit can remove the whole bonus and sometimes the profit linked to it.
- Profit is locked until the volume is met. Gains can stay on the screen but be impossible to withdraw.
- Expiry dates. If you do not meet the conditions in time, the bonus and related profit can be removed.
- Discretion clauses. Wording that lets the provider cancel a bonus "at its discretion" or for "abuse" without a clear definition.
How a bonus affects margin and stop-out
Margin is the money set aside to keep a leveraged position open. Stop-out is the level at which the platform closes your positions automatically because your margin is too low. Some terms count the bonus as margin while it lasts. If the bonus is removed, for example after a withdrawal, your margin level can fall at once and open positions can be closed at a loss. Read whether the bonus counts towards margin and what happens to open trades when it is cancelled.
Forex deposit bonus risks
- You deposit more to get a larger bonus, so you put more money at risk.
- Volume targets raise trading costs and push you towards larger, more frequent trades.
- Withdrawal locks can delay or block access to your own money.
- Bonuses are a common feature of offers from unlicensed platforms and scams. See scam warning signs and guaranteed profit claims.
Regulators and bonuses
Several regulators do not allow the firms they license to offer CFD trading bonuses to retail clients. These include the UK FCA and, under EU rules, CySEC in Cyprus. If a firm claims such a licence and still offers a bonus, check which entity of the firm you are actually dealing with. Our guides to the FCA register and the CySEC register explain how to find the official register on each regulator's own site. You can compare rules across regulators in leverage limits by regulator and what regulation protects.
The position in Pakistan
In Pakistan the supervisor is the Securities and Exchange Commission of Pakistan (SECP), with trading in listed securities and commodities only via SECP-licensed securities and futures brokers. For platforms based abroad, per the SECP, offshore forex/CFD platforms operate without regulatory approval in Pakistan. Also, per the SECP, offshore platforms have no Pakistani licence or oversight and offer no legal protection or recourse.
On payments, per the SBP, remitting foreign exchange to overseas forex/margin/CFD platforms is not allowed through any payment channel (FERA s.5(1)). Also, per the SBP, the purchase of offshore forex/margin/CFD products by Pakistani residents violates section 4(1) of FERA 1947. On warnings, the SECP issues SECP warnings by press release naming platforms (Quotex 09.04.2025; IBKR look-alikes, IGIL Securities, BMA Capital No.108 etc. 22.05.2025; Hillhouse Capital, S-169 Wharton 13.01.2026), none of which names Exness. More detail is in law and regulators and offshore vs onshore brokers.
How to read bonus terms
- Find the full bonus terms document, not only the advert.
- Note the volume requirement and calculate the trading costs it implies with our calculators.
- Check what happens to the bonus and to your profit if you withdraw anything.
- Check whether the bonus counts as margin and what happens to open positions if it is removed.
- Look for expiry dates and discretion or "abuse" clauses.
- Confirm which legal entity offers the bonus and check its licence on the official register. Our verify a broker guide and broker checklist explain how.
- If any clause is unclear, do not accept the offer until you understand it.
Frequent questions
Is a no deposit bonus forex offer free money?
No. It is conditional credit. Withdrawal usually depends on meeting volume or other conditions, and profit can be removed if you do not meet them.
Can I withdraw my own deposit while a bonus is active?
That depends on the terms. Many terms cancel the bonus, and sometimes linked profit, when you withdraw. Read the withdrawal clause before you accept.
Why do some regulators ban bonuses?
They see bonuses as an incentive that pushes retail clients to trade more and take more risk with leveraged products.
What should I do if a platform refuses a withdrawal because of bonus terms?
Keep copies of the terms and your correspondence. See file a broker complaint and report a scam. Be careful of anyone who offers to recover the money for a fee; see recovery scams.