In short
- FCA rules ban bonuses and trading incentives for retail CFD and spread betting clients.
- Information, education and tools are still allowed.
- A UK-facing bonus offer usually means an offshore entity.
Why bonuses were banned
Regulators found that deposit bonuses encouraged retail clients to deposit more and trade more often, and that bonus terms often locked clients' own money until they hit unrealistic trading volumes. Since the permanent retail CFD rules took effect, providers can't offer retail clients monetary or non-monetary benefits linked to trading.
Common bonus traps (offshore)
- Volume requirements: you must trade, say, 30 times the bonus amount before withdrawing.
- Locked deposits: withdrawing anything cancels the bonus — and sometimes profits.
- Higher leverage: bonus accounts often come with leverage far above UK limits.
What FCA brokers can offer instead
- Free demo accounts
- Education, webinars and market analysis
- Platform tools and research
- Lower pricing for active traders on raw-spread accounts
Bottom line
A bonus isn't worth losing FCA protections such as negative balance protection, the Financial Ombudsman and FSCS cover. Choose on regulation and cost instead.
Frequently asked questions
Are forex bonuses illegal in the UK?
FCA rules ban CFD and spread betting providers from offering monetary or non-monetary incentives to retail clients to trade. Offering them would breach the rules.
Are refer-a-friend schemes allowed?
Incentives linked to trading CFDs are banned for retail clients. Check carefully — anything that rewards depositing or trading is likely to fall foul of the rules.
Can I get a free sign-up bonus from a UK forex broker?
Not from an FCA-authorised broker as a retail client. Free sign-up and no-deposit bonuses are usually offered by offshore entities.
CFDs and spread bets are complex instruments and come with a high risk of losing money rapidly due to leverage. Most retail investor accounts lose money when trading these products. You should consider whether you understand how they work and whether you can afford to take the high risk of losing your money.