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CFDs are complex instruments and carry a high risk of losing money rapidly due to leverage. A bonus or reward does not reduce that risk. Offers change often and vary by country and entity, so confirm the live terms on the broker's site. Some links are affiliate links; they never change which offers we list or how we describe them.
Top loyalty programme offers checked this month
Each brand below holds at least one top-tier licence in its group. Points programmes run through the groups' international entities; volume rebates such as OANDA's and Pepperstone's are paid as trading discounts, which several top-tier regulators allow for professional or high-volume clients. Each card names the entity.
XMCoins per lotCash, credit, toolsFSC Belize; group CySEC, DFSA
HFMPoints and prizesCash, giftsFCA, CySEC, FSCA, DFSA
VantagePoints per $1mCash, vouchersASIC, FCA, CIMA
OANDACash rebateCashCFTC/NFA, FCA, ASIC
PepperstoneCommission rebateCashASIC, FCA, CySEC, BaFin
FXTMPoints per tradeCashFSC Mauritius
ExnessEXD per spreadCashbackFSA, FSCA, CMA and othersXM Traders Club Loyalty Program
Offered by XM Global (FSC Belize); group also licensed by CySEC and the DFSA
- Reward
- XM Coins on every lot
- Tiers
- 5 status levels
- Redeem for
- Cash, bonus credit or tools
- Members
- 1.5 million, per XM
The catch: Coins redeemed as bonus credit follow XM's bonus rules, so only the cash option leaves the account freely.
Best for: Regular traders who want rewards without a volume minimum
Not available to: EU, UK and Australian retail clients
HFM Loyalty Program: Trophy Road
Offered by HFM's international entities; group also licensed by the FCA, CySEC, FSCA and DFSA
- Reward
- Trophy Road Points (TRP)
- Levels
- Rookie, Rising Star, Pro, Legend
- Prizes
- Cash, electronics, holidays, a supercar
- Launched
- January 2026
The catch: Points are earned through trading and set tasks; the top prizes need very high volume, so value them at the cash rate, not the headline prize.
Best for: HFM clients who trade every week
Not available to: Clients of HFM's UK and EU entities
Vantage Rewards (V-Points)
Offered by Vantage Global Limited (VFSC); group also licensed by ASIC, the FCA and CIMA
- Earn rate
- Bronze 100, Silver 150, Gold 200, Platinum 250
- Tier based on
- 90-day trading volume
- Points valid
- 12 months
- Redeem for
- Cash and vouchers
The catch: Points are earned per $1 million notional traded, so casual traders collect them slowly, and unused points expire after a year.
Best for: Mid- to high-volume traders on MT4, MT5 or TradingView
Not available to: Residents outside Vantage's eligible countries
OANDA Elite Trader Rebates
Published for OANDA Corporation (US, CFTC and NFA); group also licensed by the FCA and ASIC
- Minimum volume
- $10 million a month
- Rebate tiers
- $5, $7, $10, $15, $17 per million
- Elite Extra
- $5 to $20 per million with a $50,000 balance
- Extras
- Free VPS, TradingView reimbursement
The catch: Clients who joined through an introducing broker cannot take part, and the rebate only starts at $10 million of monthly volume.
Best for: High-volume traders who want cash rebates from a US-regulated broker
Not available to: Traders below $10 million a month
Pepperstone Active Trader Programme
Offered across Pepperstone's entities to qualifying high-volume clients; group licensed by ASIC, the FCA, CySEC, BaFin, DFSA and others
- Reward
- Commission rebate, from $1 per FX lot
- Paid
- Daily, the day after a trade closes
- Account
- FX trades on Razor accounts
- To stay in
- Meet volume over 3 months
The catch: The rebate rises with monthly lots, but only FX trades on Razor accounts earn it, and you drop out if volume falls over a 3-month period.
Best for: Professional and high-volume traders
Not available to: Beginners and occasional traders
FXTM Rewards
Offered by Exinity Limited (FSC Mauritius, licence C113012295)
- Earn
- Tier Points and Reward Points per trade
- Value
- 500 Reward Points = $1
- Tiers
- Entry to VIP Master
- Multiplier
- Up to 3x on Rewards Plus
How it works, step by step
- Open a Rewards, Rewards Plus or Advantage account
- Activate loyalty in MyFXTM
- Earn points on qualifying trades
- Redeem from Bronze tier as withdrawable cash
The catch: Reward Points expire three months after you earn them and Tier Points reset every 12 months, so slow traders lose value. Redemption starts only at Bronze tier.
Best for: Regular traders who redeem points every few weeks
Not available to: Clients of FXTM's EU and UK entities
Exness Rewards
Offered by Exness's international entities to selected clients
- Earn
- Exness Dollars (EXD) from spread paid
- Value
- 1 EXD = $1
- Cashback
- Up to 50% of later costs
- Tier period
- Rolling 30 days
How it works, step by step
- Trade on an eligible account
- Collect EXD as a share of the spread
- Keep trading to convert EXD
- Receive withdrawable cashback
The catch: Open to selected clients only, so not every account sees it. EXD turns into cash only as you keep trading, at up to half of each later trade's cost.
Best for: Active Exness traders, since Exness pays no deposit bonus
Not available to: Accounts not invited to the programme
Prefer a simple rebate? Per-lot cashback schemes such as IUX LotBack and RoboForex cashback pay on smaller volumes than OANDA or Pepperstone. They are compared on our forex cashback page.
How a forex loyalty bonus works
A forex loyalty bonus rewards clients for continued trading instead of a deposit. Brokers use two main models: a points programme, where each lot earns points you redeem for cash, credit or gifts (XM, HFM, Vantage), and a volume rebate, where part of the spread or commission comes back as cash once you pass a volume threshold (OANDA, Pepperstone).
Most programmes are tiered. You start at the bottom level, and your trading volume over a set window moves you up. Vantage, for example, sets your tier on 90-day volume and pays 100 to 250 V-Points per $1 million traded; OANDA's Elite Trader rebate rises from $5 to $17 per million as monthly volume grows.
Loyalty rewards lower your trading cost rather than add to your balance. Their value is best measured the same way as a cashback rebate: the cash you get back per lot, compared with the spread and commission you pay.
Types of loyalty reward
Each model suits a different trader. Compare by the cash value per lot, not by the prize list.
| Type | How it works | Example | Best for |
|---|---|---|---|
| Points per lot | Each trade earns points, redeemed later | XM Coins, HFM TRP | Regular traders at any size |
| Tiered points | Earn rate rises with rolling volume | Vantage Rewards | Traders whose volume grows |
| Volume rebate | Cash back per million traded above a threshold | OANDA Elite Trader | High-volume traders |
| Commission rebate | Part of the commission refunded daily | Pepperstone Active Trader | High-volume Razor traders |
| Per-lot cashback | A fixed amount per lot from the first trade | IUX LotBack | Smaller accounts |
Points per lot
- How it works
- Each trade earns points, redeemed later
- Example
- XM Coins, HFM TRP
- Best for
- Regular traders at any size
Tiered points
- How it works
- Earn rate rises with rolling volume
- Example
- Vantage Rewards
- Best for
- Traders whose volume grows
Volume rebate
- How it works
- Cash back per million traded above a threshold
- Example
- OANDA Elite Trader
- Best for
- High-volume traders
Commission rebate
- How it works
- Part of the commission refunded daily
- Example
- Pepperstone Active Trader
- Best for
- High-volume Razor traders
Per-lot cashback
- How it works
- A fixed amount per lot from the first trade
- Example
- IUX LotBack
- Best for
- Smaller accounts
Swipe for each type
Loyalty terms that decide the value
Headline figures sell the offer. These clauses decide what it is worth, and they sit in the terms, not on the banner.
Convert points to dollars at the cash-redemption rate and divide by the lots needed. That number is the true reward.
Rolling volume (Vantage's 90 days) can drop you a tier after a quiet month; lifetime status cannot. Check which one applies.
Vantage points last 12 months. Unused points vanish, so redeem regularly.
Cash is the only reward that leaves the account freely. Points taken as bonus credit carry bonus withdrawal rules.
Short holding times, some instruments and swap-free accounts are often left out of the earn rate.
OANDA's Elite Trader excludes clients referred by an introducing broker. Signing up through a partner can close the programme to you.
Points programmes usually sit with the group's international entity, not its FCA, ASIC or CySEC company.
A reward means little if the account carries a wider spread. Compare the all-in cost after the rebate.
How to get the most from a loyalty programme
- Check your account qualifies
FXTM pays on Rewards, Rewards Plus and Advantage accounts; other brokers have their own lists.
- Turn it on
Some programmes, such as FXTM's, need activating in the client area before trades count.
- Value it per lot
Convert points to dollars per lot so you can compare it with spreads and commission.
- Redeem before points expire
Set a reminder around the expiry window.
- Withdraw redeemed cash if you don't need it
Redeemed cash is yours; there is no reason to leave it at risk.
- Review once a year
Tiers reset and terms change; compare your rewards with your costs each year.
Loyalty programme questions, answered properly
Is a loyalty programme better than a deposit bonus?
Usually, for steady traders. Loyalty rewards come from volume you already trade and most pay out as cash, while a deposit bonus is credit that shrinks when you withdraw. A deposit bonus can suit someone who wants extra margin for a short period.
Do loyalty points expire?
Often. FXTM's Reward Points last three months, and its Tier Points reset every 12 months. Check expiry before you plan a big redemption, because unused points can disappear.
Is loyalty cashback the same as a rebate site?
No. A broker's own programme is part of your account agreement. A third-party rebate site is paid by the broker as an introducer and passes part of that on, which is a separate contract worth checking.
Can loyalty rewards change my trading costs?
Yes, and that is the honest way to value them. Work out the reward per lot, then subtract it from your spread and commission per lot. Exness Rewards, for example, returns up to half of later trading costs.
Do demo accounts earn loyalty points?
No. Every programme here pays only on live trading, and some exclude certain account types or very short trades.
Should you trade more to reach a higher tier?
No. A higher tier might add cents per lot, while an extra trade you didn't plan can cost far more. Let tiers follow your normal volume.
Worked example
Illustrative case: Daniel, 41, TorontoThe name is invented; the rates follow OANDA's published Elite Trader tiers.
- His volume
Daniel trades about 25 standard lots of EUR/USD a day, roughly $55 million of notional a month.
- His tier
That volume clears the $10 million minimum with room to spare, so he qualifies for a rebate every month.
- His rebate
Assuming the $10 per million tier, the rebate comes to about $550 a month, paid as cash.
- His check
He sets that against his monthly spread cost to see the real saving before counting on it.
Loyalty rewards pay off for traders who already trade heavily. Daniel did not change his strategy to earn more; if he had, the rebate would not have covered the extra risk.
Where a loyalty programme is allowed
Top-tier regulators protect retail clients partly by limiting incentives. That is why most of these offers run through entities outside Europe, the UK and Australia.
| Region | Regulator | Status | Detail |
|---|---|---|---|
| European Union | ESMA, CySEC and national regulators | Limited | Bonuses on retail CFDs are banned; some firms offer cost rebates to professional clients. |
| United Kingdom | FCA | Limited | Retail incentives are banned; rebates for professional or high-volume clients are handled case by case. |
| Australia | ASIC | Limited | Retail CFD incentives banned since 2021; wholesale-client programmes exist. |
| United States | CFTC and NFA | Allowed | Volume rebates such as OANDA's Elite Trader are allowed for forex clients. |
| South Africa | FSCA | Allowed | Loyalty programmes are allowed if terms are clear. |
| Offshore hubs | FSA Seychelles, VFSC, FSC Mauritius | Allowed | Where most points-based programmes (XM, HFM, Vantage) run. |
European Union
- Regulator
- ESMA, CySEC and national regulators
- Status
- Limited
- Detail
- Bonuses on retail CFDs are banned; some firms offer cost rebates to professional clients.
United Kingdom
- Regulator
- FCA
- Status
- Limited
- Detail
- Retail incentives are banned; rebates for professional or high-volume clients are handled case by case.
Australia
- Regulator
- ASIC
- Status
- Limited
- Detail
- Retail CFD incentives banned since 2021; wholesale-client programmes exist.
United States
- Regulator
- CFTC and NFA
- Status
- Allowed
- Detail
- Volume rebates such as OANDA's Elite Trader are allowed for forex clients.
South Africa
- Regulator
- FSCA
- Status
- Allowed
- Detail
- Loyalty programmes are allowed if terms are clear.
Offshore hubs
- Regulator
- FSA Seychelles, VFSC, FSC Mauritius
- Status
- Allowed
- Detail
- Where most points-based programmes (XM, HFM, Vantage) run.
Swipe through the regions
Your country of residence decides which company in a group onboards you. A loyalty programme advertised on a brand's global site may not be open to your account.
Is a loyalty programme worth it?
- You already trade often with this broker and would anyway.
- Each reward has a clear cash value per lot.
- The programme is open to your country and account type.
- Your all-in cost after the reward beats other brokers.
- You would trade more just to reach the next tier.
- The rewards are mostly prizes with no cash option.
- Points expire before you would realistically redeem them.
- A tighter-spread broker would cost less even without rewards.
- Find the cash value of one point or the rebate per lot
- Check how tiers are set and how long they last
- Note point expiry and redemption options
- Confirm your country, entity and account type qualify
- Check whether signing up through a partner excludes you
- Compare the all-in cost with the reward included
Loyalty programme trends in 2026
HFM launched its Trophy Road programme in January 2026, and Vantage runs Vantage Rewards: brokers are spending more on keeping clients than on one-off welcome offers.
Named levels, progress bars and prize catalogues (HFM's Rookie to Legend) borrow from gaming apps.
Electronics, holidays and cars sit alongside cash. The cash option is almost always the better value.
OANDA reimburses TradingView and offers a free VPS; XM lets clients redeem coins for trading tools.
Loyalty programme red flags
- Rewards you can only use on more trading
If points can only become bonus credit, the programme exists to raise your volume, not reward it.
- Pressure to reach a tier
Messages urging you to trade more before a deadline are a sales tactic, not a benefit.
- No published earn rate
A programme that will not say what a point is worth cannot be compared.
- Loyalty offers from unlicensed firms
Scam brokers use VIP tiers to justify extra deposits. Check the licence first.
Unsure about a firm? Check our scam broker blacklist and the regulator's own register first.
Loyalty programme glossary
- Tier
- A level in the programme, such as Bronze or VIP, that sets your earn rate.
- Tier Points
- Points that measure your volume and decide your tier.
- Reward Points
- Points you can redeem for cash or perks.
- Multiplier
- A boost to the earn rate, such as FXTM's up to 3x on Rewards Plus.
- EXD
- Exness Dollars, worth $1 each, earned as a share of the spread you pay.
- Volume rebate
- Cash paid per million traded or per lot, as at OANDA and Pepperstone.
- Redemption
- Turning points into cash, credit or rewards.
Promotions from brokers we list
The brokers FX Recap reviews run these offers. Each card links to our full write-up of the terms.
FXTMLoyaltyFXTM Rewards: Tiers, Reward Points and Cash Value
Earn Reward Points on qualifying trades and redeem them as withdrawable cash; seven tiers raise the multiplier.
ExnessLoyaltyExness Rewards: How EXD Cashback and the Tiers Work
Earn Exness Dollars on the spread you pay, then turn up to 50% of later trading costs into withdrawable cashback. Selected clients only.
XMLoyaltyXM Traders Club: Earn XM Coins
Earn XM Coins on every real-account trade across five statuses, then redeem them for cash, tradable bonuses or tools.
HFMDeposit bonusHFM 100% Supercharged Bonus up to $50,000
100% of each $50+ deposit as credit, up to $50,000, plus cash rebates of 0.2 pips per forex lot or $2 per gold lot, up to $8,000.
Loyalty programme FAQs
What is a forex loyalty bonus?
A forex loyalty bonus rewards clients for continued trading. It usually takes the form of points per lot redeemed for cash, credit or gifts, or a cash rebate per million traded once you pass a volume threshold.
Which regulated brokers have loyalty programmes in 2026?
XM (Traders Club), HFM (Loyalty Program, launched January 2026), Vantage (Vantage Rewards), OANDA (Elite Trader) and Pepperstone (Active Trader) all run programmes, and each has top-tier licences in its group.
How does the XM loyalty program work?
XM clients earn XM Coins on each lot traded. There are five status tiers, with a multiplier of up to three times at the top, and coins can be redeemed for cash, bonus credit or trading tools.
What is OANDA Elite Trader?
OANDA's rebate programme for traders with at least $10 million of monthly volume. Rebates run from $5 to $17 per million, or $5 to $20 through Elite Extra with a $50,000 balance, plus a free VPS and TradingView reimbursement.
Is a loyalty bonus the same as cashback?
They overlap. Cashback pays a fixed amount per lot from the first trade; loyalty programmes usually use points or volume tiers. Both lower your trading cost rather than add capital.
Can UK or EU traders join a broker loyalty programme?
Points and bonus-style rewards are generally off-limits for retail CFD clients there. Commission rebates work as a price discount, so programmes such as Pepperstone's Active Trader are offered by some top-tier entities; confirm with the entity that holds your account.
Do loyalty points expire?
Often. Vantage points last 12 months, so check expiry and redeem before points lapse.
Is a forex loyalty programme worth it?
Yes, if you already trade heavily with the broker and can redeem for cash. No, if it tempts you to trade more than your strategy calls for.
Sources: OANDA Elite Trader, HFM Loyalty Program, Vantage Rewards, Pepperstone Active Trader, XM Loyalty Program, ASIC CFD product intervention order.