Deposit bonus terms in forex are the conditions a broker attaches to a deposit bonus offer — covering turnover requirements, withdrawal rules, time limits, and profit caps. Understanding these terms is the difference between a bonus that adds value and one that quietly costs you more than it gives. This guide breaks down every major term with real lot math so you can evaluate any offer yourself.
If you are new to deposit bonuses, start with what a deposit bonus is and how forex bonuses work first.
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Why Bonus Terms Matter More Than the Headline Number
A broker advertising “100% deposit bonus” is giving you only half the picture. Two brokers can both match a $500 deposit, but one requires 5 standard lots with a 90-day deadline while the other demands 25 lots in 14 days. The first is achievable through normal trading. The second will cost you more in spreads than the bonus is worth.
Every deposit bonus term exists to ensure the broker recovers the bonus cost through your trading activity. That is not inherently bad, but you need to understand each term to know whether the deal is fair.
Turnover and Volume Requirements
The turnover requirement (also called the volume requirement or lot requirement) is the single most important term in any deposit bonus. It specifies the total trading volume you must complete before the bonus or its profits become withdrawable. Volume is measured in standard lots (100,000 units of the base currency).
How Turnover Is Calculated
Brokers express turnover requirements in different ways, and the phrasing matters:
- “Trade X lots” — You must close X standard lots of qualifying trades.
- “Trade X times the bonus amount” — If your bonus is $500 and the multiplier is 5x, most brokers mean 5x in lots (2,500 lots of notional value), not 5x in dollars. Always confirm.
- “Turnover of X USD” — Total notional value of all closed trades must reach X. For example, $5,000,000 in turnover equals 50 standard lots.
Most brokers count only one side of the trade (the close) toward turnover. Some count both the open and the close, effectively halving the requirement. This distinction matters — a broker counting round-trip trades halves your actual workload.
The Lot Math: A Worked Example
Suppose you deposit $500 and receive a 100% bonus ($500). The broker requires 25 standard lots within 60 days.
Step 1: Calculate the spread cost per lot. On EUR/USD with a typical 1.5-pip spread, one standard lot costs roughly $15 in spread.
Step 2: Multiply by the required volume. 25 lots x $15 per lot = $375 in total spread costs.
Step 3: Compare to the bonus value. The bonus is $500. The spread cost is $375. The net benefit is roughly $125 — assuming your trades break even on average.
Step 4: Check feasibility. 25 lots in 60 days means about 0.42 lots per day. If you trade 0.5 lots per session on most weekdays, that is achievable without changing your strategy. If you normally trade 0.1 lots per day, you would need to increase your size five-fold — and that forced behavior change is where traders get hurt.
Now consider a worse offer: the same $500 bonus but requiring 50 lots in 30 days. That is 50 x $15 = $750 in spread costs to earn a $500 bonus. You lose $250 before considering any trading gains or losses. For more on this cost-benefit calculation, see are forex bonuses worth it.
What Counts as a Qualifying Trade
Not every trade counts toward turnover. Common restrictions:
- Instrument limits — Only forex pairs may qualify. CFDs on indices, commodities, or crypto may be excluded or count at a reduced rate.
- Minimum hold time — Trades must be held for a minimum duration, often 2 to 5 minutes. Scalping strategies may not count.
- No hedging — Simultaneous buy and sell positions on the same instrument are excluded.
- Minimum pip movement — Some brokers require the trade to move 3-5 pips before it counts.
If the qualifying criteria are not published transparently, treat that as a warning sign. Our review methodology checks for transparent terms before featuring any broker.
Time Limits
Nearly every deposit bonus imposes a deadline to meet the turnover requirement.
| Timeframe | Feasibility |
|---|---|
| 7-14 days | Very aggressive. Often leads to overtrading. |
| 30 days | Tight but achievable for active traders doing 0.5-1 lot per day. |
| 60 days | Reasonable for most active traders. |
| 90-180 days | Fair. Accommodates part-time traders and smaller positions. |
| No time limit | Rare but ideal. |
What happens when you miss the deadline: The broker removes the bonus credit. Profits earned from the bonus may also be forfeited depending on the terms. Your original deposit should remain untouched — but verify this before claiming.
Short deadlines are the most common trap in deposit bonus terms. A $500 bonus with a 7-day deadline creates urgency that overrides strategy. Traders increase position sizes and take marginal setups just to hit the lot target. The behavioral cost almost always exceeds the bonus value.
Withdrawal Conditions: Lock vs. Cancel
What happens to the bonus when you request a withdrawal before completing turnover is one of the most misunderstood terms. There are two models.
Bonus Cancellation on Withdrawal
Requesting any withdrawal causes the bonus to be cancelled and removed. Your remaining balance (deposits plus or minus trading P&L) is available for withdrawal. This is the trader-friendly structure — you keep your own money and lose only the bonus credit.
Balance Lock
The bonus and sometimes your deposit are locked until turnover is met. You cannot withdraw any amount — not even your own deposited funds — until conditions are satisfied or you formally request bonus removal through support.
Which to prefer: Balance locks that freeze your deposited capital are the riskiest structure. If the broker delays withdrawals, your own money is inaccessible. Always prefer the cancellation model.
Comparison Table: Common Deposit Bonus Term Types
| Term | What It Means | Trader-Friendly? | Red Flag Level |
|---|---|---|---|
| Turnover requirement | Total lots you must trade before withdrawal | Depends on ratio (under 5 lots per $100 = fair) | Low if proportional; High if extreme |
| Time limit | Deadline to complete turnover | Fair at 60+ days; unfair under 14 days | Medium to High if short |
| Bonus cancellation | Withdrawal removes bonus; your deposit stays free | Yes | Low |
| Balance lock | All funds frozen until conditions met | No — capital trapped | High |
| Credit bonus | Bonus acts as margin only; never withdrawable as cash | Neutral — standard practice | Low |
| Cash bonus | Bonus converts to real cash after conditions met | Yes — best type | Low |
| Profit cap | Maximum withdrawable profit from bonus-funded trades | No — limits upside | Medium |
| Eligible instruments | Only certain pairs count toward turnover | Neutral if major pairs included | Medium if restrictive |
| Minimum hold time | Trades must stay open X minutes to count | Neutral for swing; negative for scalpers | Low to Medium |
| No hedging | Opposing positions excluded from turnover | Standard and reasonable | Low |
Credit Bonus vs. Cash Bonus
A credit bonus adds trading margin but is never itself withdrawable. Only the profits you earn while trading with the combined balance can be withdrawn after conditions are met. This is the most common structure.
A cash bonus converts into real, withdrawable money after you meet conditions. Both the bonus amount and profits become yours. This is rarer and typically carries higher turnover requirements.
How to tell the difference: Look for “bonus is for margin purposes only” (credit) versus “bonus becomes withdrawable balance upon completion” (cash). If the terms are unclear, ask the broker directly before depositing. For a deeper look, see our deposit bonus guide.
Profit Caps
Some deposit bonuses cap the maximum profit you can withdraw from bonus-funded trades. A $500 credit bonus might cap profits at $200 — even if your trades earned $1,000.
The cap limits your upside while your downside stays unlimited. To evaluate: if the cap is lower than the spread cost of meeting turnover, the bonus has negative expected value. If there is no cap, that is one fewer restriction working against you. Check whether the cap applies to total profits or only to profits from the bonus portion — brokers handle this differently.
What Happens If You Withdraw Early
Under bonus cancellation: The bonus is removed and your balance is recalculated. You keep everything except the bonus credit.
Under balance lock: You must contact support and request bonus removal before any withdrawal. This can take 1-5 business days.
Partial withdrawal trap: Some brokers reduce the bonus proportionally on partial withdrawals. Others cancel the entire bonus on any withdrawal. Read the terms carefully.
If you might need your money before completing turnover, choose a cancellation-model broker or skip the bonus.
Other Common Restrictions
Account type: The bonus may apply only to Standard accounts, not ECN or Raw Spread accounts. Open the wrong type and no bonus is credited.
Minimum deposit: Depositing below the required threshold means no bonus.
Maximum bonus cap: A “100% bonus up to $5,000” matches dollar-for-dollar only to $5,000.
One per client: Most offers are limited to one per household or verified identity.
Bonus codes: Some bonuses require a promo code during registration or an opt-in click in the client portal before depositing. Miss this step and the bonus will not be applied.
How to Evaluate Any Deposit Bonus in 5 Minutes
Use this checklist every time:
- Turnover ratio — Divide required lots by bonus amount. Under 5 lots per $100 is reasonable. Over 10 is expensive. Over 20 is almost certainly a net loss.
- Time limit — 60+ days is fair. Under 30 needs caution. Under 14 is a red flag.
- Withdrawal model — Cancellation or lock? Always prefer cancellation.
- Credit or cash — Credit means only profits are withdrawable. Cash is better but rarer.
- Profit cap — Is the cap realistic relative to bonus size and trading costs?
- Qualifying instruments — Do the pairs you actually trade count?
- Hold time and hedging rules — Will your trading style be penalized?
If the offer passes all seven checks, it may be worth claiming. If any single check reveals an extreme restriction, the bonus likely benefits the broker more than you.
Browse verified offers on our deposit bonus listings or read the complete forex bonus guide for a broader overview.
Important: Forex deposit bonuses are unavailable to retail clients in the EU, UK, Australia, and the US due to regulatory restrictions (ESMA, FCA, ASIC). Bonuses are legal and widely offered in eligible markets including Nigeria, South Africa, India, Indonesia, Malaysia, the Philippines, and the Gulf states.
Risk warning: Forex and CFD trading carries a high level of risk, and most retail trader accounts lose money. A deposit bonus does not reduce the risk of trading. Never deposit more than you can afford to lose, and never let a bonus change how you trade.
Compare deposit bonus terms in our Bonus Finder.
FAQ
What is a turnover requirement on a forex deposit bonus?
A turnover requirement is the total trading volume, measured in standard lots (100,000 units), that you must complete before the bonus or its profits become withdrawable. For example, 10 lots means closing 10 standard lots of qualifying trades within the timeframe. Turnover is how brokers recover the bonus cost through your spreads and commissions.
Can I withdraw my deposit before meeting the bonus turnover?
It depends on the withdrawal model. Under “bonus cancellation,” yes — you withdraw your deposit freely but the bonus credit is removed. Under “balance lock,” no — both deposit and bonus are frozen until turnover is complete or you formally request bonus removal. Always confirm which model applies before claiming.
What is the difference between a credit bonus and a cash bonus?
A credit bonus provides extra trading margin but is never itself withdrawable — only profits can be withdrawn. A cash bonus converts into real withdrawable money after you meet turnover. Cash bonuses are better but less common and carry higher lot requirements.
What happens to my bonus if I miss the time limit?
The broker removes the bonus credit. Your original deposit typically remains intact, but profits from the bonus portion may be forfeited. The real cost is often behavioral — overtrading and oversizing in a rush to hit the deadline.
How do I know if a deposit bonus offer is fair?
Calculate the turnover ratio: divide required lots by the bonus amount. Under 5 lots per $100 is generally fair. Over 10 is expensive. Over 20 almost guarantees you pay more in spreads than the bonus is worth. Also check for a 60+ day time limit, cancellation-based withdrawal, and transparent terms. Our review methodology details how we assess these factors.