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Best Forex Bonus Deposit Offers
Most forex brokers offer a bonus on your initial deposit to get you to trial their currency trading platform. These forex bonuses are often a percentage of your deposit and will be awarded after a set ‘turnover’ target is set. This offer is a great incentive for new forex traders.
Compare the best forex bonus deposit offers available to Australians below.
By Justin Grossbard / Updated: Thursday, January 02nd, 2020
City Index Has The Best Forex Bonus Offer for Traders
Trading with an Australian Financial Services License: 345646, City Index is a retail and trading provider that operates globally. City Index’s finds itself under the GAIN Capital Holdings Inc umbrella which was established in the late 90’s. Aiming to foster a connection with retail traders whilst offering easy and affordable access to markets with strong forex deposit bonus offers, providing incentives for traders to open City Index accounts and commence trading. Since 2006, City Index’s headquarters are in London, UK but founded a headquarters in Sydney, solidifying their Australian operations.
Number 1 bonus offer in the Australian market
Australia’s most established OSCA Broker
Offers both AT PRO & MT4 Trading platforms
Outstanding customer service
City Index has an enviable record of winning top trading awards
The overall rating is based on review by our experts
7 / 10
10 / 10
8 / 10
3 / 10
Range of Markets
7 / 10
7 / 10
City Index Has the Best Forex Bonus Deposit Offer
City Index’s bonus offers are tiered, operating on two levels. They satisfy the broker’s overall aim of catering to new and mid-level traders. The bonus offers are quite simple to receive and require minimum trading and deposits that beginner and intermediate traders would deem as appropriate.
The first a $200 bonus is received once you’ve completed two simple steps!
(1) $1,000 has been deposited into your new account.
(2) Place at least 6 trades either through: a. FX, with a minimum notional value of $3.3 million AUD b. Equity CFDs with a minimum notional value of $90,000 AUD c. Other CFDs with a minimum notional value of $660,000 AUD
City Index’s second bonus offer operates for traders either with more experience or perhaps more to invest. The bonus offer being $1,000. (1) A minimum of $7,500 has been deposited into your new account (2) Place at least 12 trades either through: a. FX, the minimum notional value of $31.2 million AUD b. Equity CFDs with a minimum notional value of $450,000 AUD c. Other CFDs with a minimum notional value of $2.3 million AUD
These bonus offers are known as Instant Bonuses, immediately added to your Forex account. They are strong incentives to try out a specific platform and develop a relationship between broker and trader. Retail traders are likely to get excited by the opportunity to obtain bonuses, open an account and begin trading to simply receive the bonus offer. Although there is a significant deposit, to secure the bonus on offer, City Index offers one of the highest deposit bonus offers in the market, with many brokers requiring significant account movement and a long list of transactions prior to awarding bonuses. There are other bonus offers available in the market, but for traders looking for a starting point to seek their teeth into, City Index’s offers seem ideal. Open a demo account >>Visit City Index >>
Omnibus Segregated Clearing Account (OSCA) sets City Index Apart
City Index offers central counter party clearing on ‘certain markets.’ This isn’t the same as DMA access as the broker still operates a dealing desk, first executing the trade and then transferring the client’s credit exposure to the central clearinghouse. The OSCA nature of segregation, allows for funds to be held with other retail client funds, pertaining to no account fees and full trading features available.
City Index Trading Platforms
City Index have a few types of forex platforms. The AT Pro Trading Platform in particular is designed for advanced traders, enabling coding opportunities for traders desiring to build their own unique strategies in C#, .NET and Visual Basic. Traders that aren’t too interested in designing their own strategies can choose from a variety of built-in strategies also available.
The trading platform includes, automated trading signals that automatically display a potential trade entry and exit point. The ability to customise your strategies based on your own trading requirements. Charts with 100+ indicators, with a back-testing excel tool to see how trade signals have performed against detailed historical data.
The charts provided by AT Pro are designed for users who want to perform powerful analysis, employing the bonus offers provided by City Index to their maximum capacity. Dealing can be made directly through charts, with positions, stops and limit orders amended by dragging the lines. AT Pro offers extensive drawing tools, that can be saved for future trading use.
AT Pro offers a technical and fundamental analysis portal, scanning markets for chart patterns, presenting the best buy and sell opportunities for traders, who have limited time for market research. Advantage web trader is the lighter AT Pro option for mobile trading, with no requirement for downloads using reliable and fast HTML 5 technology. Mobile trading is also available through iOS and Android trading apps.
Heralded as the most popular Forex trading platform, MT4 analyzes financial markets and employs Expert Advisers to assist brokers. The integral aspects of this platform are it’s ability to mobile trade, strong trading signals as well market knowledge all enhancing brokers Forex trading experience.
The platform offers opportunities for different types of traders, including advanced technical analysis for expert traders, a flexible trading system benefiting traders on the go and finally guidance from experts for novices.
MT4’s strongest aspect are its analytical functions. The ability to offer online quotes and interactive charts with 9 periods allows traders to examine quotes and details in a matter of moments, responding immediately to changes in price.
MT4 offers 1,700 + trading robots as well as 2,100 + technical indicators that guarantee traders are well educated prior to making purchases, ensuring transparency, simplicity and security.
Regulated by several agencies
City Index receives regulatory oversight from several agencies. The FCA regulates the firm in the UK, while the Markets in Financial Directive allows the company to operate as a regulated entity throughout the European Union. Australian operations fall under ASIC. ASIC’s oversight ensures that client money is held in a trust and completely separate from City Index’s own money. Unlike in other jurisdictions, there is no additional compensation scheme in place to cover your deposit. This doesn’t mean its unsafe to deposit with City Index, rather you are offered only the legal protection afforded by the Australian legal system.
Diverse Range of Payment Methods
There are different funding methods for your City Index account, including Credit or Debit Cards, EFT, BPAY or PayID.
To obtain more information about payment and depositing funds, click on the ‘Funding’ tab on the top-right corner of the trading platform, then select ‘Deposit.’ There is a maximum of three cards that can be registered to an account at any time.
Traders using City Index have multiple ways to reach out to the company’s support staff when they need to, including:
Live chat assistance
Direct phone support based in Australia
In addition to these methods of contracting support, traders can also try to find the answers to their questions in the FAQ section of the brokerage’s website. This set of common questions will provide answers and solutions for most issues. When more rigorous support is needed, however, City Index’s staff is there to help.
City Index Is Award Winning
City Index has won multiple awards from Global Banking & Finance Review, including:
– Best Forex Broker Australia (2018) – Best CFD Broker Australia (2018) – Best FOREX Education Provider (2018)
When it comes to integrating bonus types into the wider interface of a Forex Broker, City Index provides conservative and intermediate traders with the right incentives to deposit money into their account. Bonus Offers come in different shapes, sizes and amounts – however, City Index should be the first stop for any individual looking to open an account for the sake of trading bonus offers with instant reward.