With forex deposit bonuses, the higher the rate, the lower the cap tends to be, and almost every bonus shrinks when you withdraw. Choose on the rate alone and you may receive far less than you expected.
As of 29 October 2026, FX Textbook lists nine deposit bonuses from seven brokers for residents of Japan. On a first deposit of JPY 100,000, Vantage (within 7 days of approval) pays the most at JPY 82,500, leaving aside invitation-only AXIORY. HFM's Halloween 100% stops at JPY 45,000.
The cushion feature, withdrawal rules, caps and deadlines sit side by side below, so you can match an offer to your deposit size and withdrawal plans.
In short: choose a deposit bonus by its cap and withdrawal rules
- Nine offers from seven brokers. Highest rate: Vantage's 120% first deposit (within 7 days of approval; fixed-amount offers aside)
- Largest bonus on a JPY 100,000 first deposit: Vantage, JPY 82,500 (excluding AXIORY)
- The cushion feature is stated by HFM and Axi JP25Axi
- None of the nine bonuses can itself be withdrawn
- XS, Axi JP25Axi and AXIORY remove the whole bonus if you withdraw before the conditions are met or during the period
| Offer | Rate and cap | Deadline |
|---|---|---|
| HFM Halloween 100% Deposit Bonus | 100% of the first deposit in the period, up to JPY 45,000 | Until 2 Nov 23:59 JST |
| HFM Top-Up 20% Deposit Bonus | 20% on every deposit, USD 5,000 in total | Standing |
| Vantage 120/100% + 50% + 20% | First deposit 120% or 100% (bonus up to JPY 75,000), second 50%, third onwards 20%; USD 20,000 in total | Standing |
| XS First Deposit Bonus | Fixed JPY 10,000 on a first deposit of JPY 20,000 or more | Standing (credit valid 60 days) |
| Axi 25% Cushioning Bonus (JP25Axi) | 25% of the first deposit, up to USD 500; minimum deposit USD 125 | Scheduled to end of October |
| Monaxa Lifetime Bonus | 30% on every deposit, USD 6,000 in total | Standing |
| Monaxa Welcome Bonus | Fixed USD 50 on a first deposit of USD 25 | Standing |
| INFINOX 20% Deposit Credit | 20% of the deposit; minimum USD 50; USD 20,000 in total | Until 31 December |
| AXIORY 15th Anniversary Welcome Package | 100% of the first deposit, up to USD 645 (invited new clients only) | Until 31 December |
※ AXIORY's cap is JPY 100,000 on its Japanese page; our English offer page shows it as USD 645. HFM Bonus Hunter needs no deposit and is covered in our no-deposit bonus article.
Every offer is trading credit for FX and CFDs. Losses reduce both the bonus and your own money. The rate and cap that apply to you are the ones shown in the broker's client portal.
Deposit needed to receive the full bonus
The deposit needed to reach each cap ranges from JPY 45,000 to USD 100,000. Check first whether the amount you can deposit reaches the full bonus.
| Offer | Deposit for full bonus | Full bonus |
|---|---|---|
| HFM Halloween 100% | JPY 45,000 as the first deposit in the period | JPY 45,000 |
| HFM Top-Up 20% | USD 25,000 in total | USD 5,000 |
| Vantage first deposit (within 7 days) | JPY 62,500 | JPY 75,000 |
| Vantage first deposit (day 8 onwards) | JPY 75,000 | JPY 75,000 |
| Vantage second deposit | JPY 300,000 | JPY 150,000 |
| XS first deposit | JPY 20,000 | JPY 10,000 |
| Axi JP25Axi | USD 2,000 as the first deposit | USD 500 |
| Monaxa Lifetime 30% | USD 20,000 in total | USD 6,000 |
| Monaxa Welcome | USD 25 as the first deposit | USD 50 |
| INFINOX 20% | USD 100,000 in total | USD 20,000 |
| AXIORY 15th | JPY 100,000 as the first deposit | JPY 100,000 (plus the separate no-deposit credit) |
The smallest deposits that reach the cap are XS's JPY 20,000 and HFM Halloween's JPY 45,000. INFINOX's full bonus needs USD 100,000 in deposits, about JPY 15 million at USD 1 = JPY 150.
For first-deposit-only offers, the first amount fixes the bonus. With HFM Halloween, Axi JP25Axi and AXIORY, a second deposit does not raise the first-deposit bonus.
How much you receive on JPY 30,000, 100,000 and 300,000
The same JPY 100,000 deposit earns anything from JPY 10,000 to JPY 100,000 in bonus. Each offer has a different cap and a different point where the rate changes.
| Offer | JPY 30,000 | JPY 100,000 | JPY 300,000 |
|---|---|---|---|
| HFM Halloween 100% | 30,000 | 45,000 | 45,000 |
| HFM Top-Up 20% | 6,000 | 20,000 | 60,000 |
| Vantage first deposit (within 7 days) | 36,000 | 82,500 | 122,500 |
| Vantage first deposit (day 8 onwards) | 30,000 | 80,000 | 120,000 |
| XS first deposit | 10,000 | 10,000 | 10,000 |
| Axi JP25Axi | 7,500 | 25,000 | 75,000 |
| Monaxa Lifetime 30% | 9,000 | 30,000 | 90,000 |
| INFINOX 20% | 6,000 | 20,000 | 60,000 |
| AXIORY 15th (invitation only) | 30,000 | 100,000 | 100,000 |
※ Monaxa's Welcome Bonus is a fixed USD 50 on a USD 25 deposit, so it is left out. AXIORY adds a separate no-deposit credit of JPY 15,000.
Vantage pays 120% on the first JPY 62,500 deposited. On JPY 100,000 that is JPY 75,000, plus 20% of the remaining JPY 37,500 (JPY 7,500), for JPY 82,500 in total, as in Vantage's own example.
HFM's Halloween 100% does not apply above JPY 45,000. Only the first deposit in the period counts, so a first deposit of JPY 10,000 caps the 100% at JPY 10,000.
Bonuses where deposit timing changes the amount
At Vantage, HFM and AXIORY, the day you pay in changes the bonus. Fix your deposit date first, counting from the day your account opens.
| Offer | Timing that pays more | If you miss it |
|---|---|---|
| Vantage | First deposit within 7 days of account approval | 100% from day 8: JPY 100,000 earns JPY 80,000, JPY 2,500 less |
| HFM | First deposit during Halloween (until 2 November) | Standing 20% afterwards: JPY 45,000 earns JPY 9,000 |
| AXIORY | Claim within 14 days of the invitation email | After 14 days you no longer meet the conditions |
Depositing JPY 45,000 at HFM earns JPY 45,000 in the period and JPY 9,000 after it. The gap of JPY 36,000 is 80% of the deposit.
Benefits of a deposit bonus, and what to know first
Benefits: more margin from the same deposit
- More margin: JPY 100,000 into HFM Top-Up 20% gives JPY 120,000
- Easier small start: a JPY 20,000 deposit at XS gives JPY 30,000 of margin
- Profit can be withdrawn: no restriction at HFM
- Later deposits count too: every-deposit offers build to their cap
Cautions: limits on accounts and withdrawals
- Bonus accounts differ: Monaxa uses a 30% stop out and up to 1:500
- Withdrawing reduces the bonus or removes it entirely
- Tight-spread accounts are excluded: HFM KATANA and Pro, Vantage Premium
HFM pays its bonus only into the Top-Up Bonus account, where spreads start at 1.4 pips. KATANA (from 0.3 pips) and Pro (from 0.6 pips) get no bonus.
Types of deposit bonus: 100% match, tiered, every deposit, fixed
| Type | How the bonus grows | Listed examples |
|---|---|---|
| 100% match | Equal to the deposit up to the cap, then stops | HFM Halloween (JPY 45,000), AXIORY (USD 645) |
| Tiered | Highest on the first deposit, lower each time | Vantage (120% or 100%, then 50%, then 20%) |
| Every deposit | Same rate each time, up to a total cap | HFM 20%, Monaxa 30%, INFINOX 20% |
| First deposit only | Paid once; later deposits get nothing | Axi JP25Axi (25%, up to USD 500) |
| Fixed amount | Same sum whatever you deposit | XS (JPY 10,000), Monaxa (USD 50) |
None of the brokers listed on FX Textbook advertises a 200% deposit bonus as of 29 October 2026. Monaxa's fixed Welcome Bonus pays USD 50 on a USD 25 deposit, which works out to a 200% top-up.
Four offers are limited-time: HFM's Halloween 100%, Axi JP25Axi, INFINOX and AXIORY. The other five are standing offers with no set end date.
A 100% match boosts small deposits, but HFM's stops at JPY 45,000. An every-deposit bonus pays only 20% to 30%, yet the total keeps growing as you deposit more.
How far a cushion pushes back the stop out
With a cushioning bonus, the bonus counts toward equity. Using HFM's Top-Up Bonus account and hypothetical numbers, here is the move you can absorb before stop out.
| Item | No bonus | With Top-Up 20% |
|---|---|---|
| Deposit | JPY 100,000 | JPY 100,000 |
| Bonus | JPY 0 | JPY 20,000 |
| Required margin (USD/JPY 1 lot, 1:1000) | JPY 15,000 | JPY 15,000 |
| Equity at stop out (20%) | JPY 3,000 | JPY 3,000 |
| Loss you can absorb | JPY 97,000 (97 pips) | JPY 117,000 (117 pips) |
The bonus adds 20 pips of room. With JPY 45,000 under the Halloween 100%, you could absorb 87 pips, against 42 pips with no bonus.
Holding on longer before stop out can mean trading until all your own money is gone. Use the calculation to size trades, not to stretch them.
Cushion feature: which bonuses absorb losses
A cushion feature is the informal name for a bonus that absorbs losses after your own money runs out. It is not an official term, so read the wording of each set of terms.
| Offer | When the account loses | Source |
|---|---|---|
| HFM Halloween 100% and Top-Up 20% | Also works as a stop loss; you can lose all of it | Top-Up Bonus terms (checked 1 Sep) |
| Axi JP25Axi | Cushioning bonus; any remainder lapses if used for negative balance adjustment (NBA) | Axi's terms (checked 1 Oct) |
| AXIORY 15th | Losses come off the balance first; remaining credit covers a zero-cut | Official page and terms (checked 19 Sep) |
| INFINOX 20% | Counts as margin but does not prevent margin calls or stop out | Terms (checked 15 Aug) |
| Monaxa 30% / USD 50 | Removed in whole or part if the balance goes negative or hits the 30% stop out | Terms (checked 2 Sep) |
| Vantage | Not stated in the terms we checked | Terms (checked 5 Aug) |
| XS first deposit | Not stated in the data we hold | Official page (checked 19 Sep) |
| Axi AXI100 (not for Japan residents) | No cushion: credit is removed when the cash balance falls below zero | Axi terms (checked 22 Oct) |
Deposit JPY 100,000 with HFM's Top-Up 20% and your margin is JPY 120,000. If losses pass JPY 100,000, the JPY 20,000 bonus keeps the trade open, and you can lose that bonus too.
How the cushion feature works, with worked numbers (beginner guide)
Withdrawal rules: when profit can leave and what is removed
What differs by offer is when profit can leave, and how much bonus disappears when it does.
| Offer | Profit withdrawal | On withdrawal or transfer |
|---|---|---|
| HFM Halloween 100% and Top-Up 20% | No restriction (terms 3.13) | The same share of bonus as the share withdrawn is removed |
| Vantage | Through the normal withdrawal process | No deduction up to realised profit; proportional deduction beyond it |
| XS first deposit | 5 lots in 60 days on FX, BTC, gold or silver (positions held 2+ minutes) | Whole credit removed if you withdraw or move funds before that |
| Axi JP25Axi | No separate profit rule in the terms | Cancelled if you withdraw before the period ends; internal transfers count |
| Monaxa 30% / USD 50 | Profit and deposits can be withdrawn any time (not instant) | Removed in proportion to equity; all removed on full withdrawal |
| INFINOX 20% | Not stated in the terms | May be removed or adjusted in proportion on withdrawal or transfer |
| AXIORY 15th | Deposit JPY 20,000+ in one go, then trade 1.0 lot of FX pairs | Remaining credit removed before that; reduced pro rata after |
HFM, Vantage and Monaxa have no trading-volume rule for profit. XS and AXIORY keep profit locked until their conditions are met.
Bonus left after a withdrawal: pro rata versus all-or-nothing
In HFM's own example, withdrawing USD 224 (40%) of USD 560 available removes USD 20 of a USD 50 bonus. USD 30 of bonus remains.
| Case | Bonus before | Bonus after |
|---|---|---|
| HFM 20%: deposit JPY 100,000, profit JPY 10,000, withdraw JPY 55,000 of 110,000 | JPY 20,000 | JPY 10,000 |
| Monaxa 30%: deposit USD 1,000, withdraw everything | USD 300 | USD 0 |
| XS: deposit JPY 20,000, withdraw before 5 lots | JPY 10,000 | JPY 0 |
| Axi JP25Axi: deposit JPY 100,000, withdraw part during the period | JPY 25,000 | JPY 0 |
| AXIORY: first deposit JPY 50,000, withdraw before 1.0 lot | JPY 65,000 | JPY 0 |
With pro rata removal, splitting withdrawals into small amounts still removes the same share. With all-or-nothing rules, even a small withdrawal ends the bonus.
Withdrawing only your profit
| Deposit JPY 100,000, profit JPY 20,000, withdraw JPY 20,000 | Bonus before | Bonus after |
|---|---|---|
| HFM Top-Up 20% (1/6 of JPY 120,000 withdrawable) | JPY 20,000 | About JPY 16,667 |
| Vantage first deposit (within 7 days; withdrawal within realised profit) | JPY 82,500 | JPY 82,500 (no deduction) |
| Axi JP25Axi (withdrawal during the period) | JPY 25,000 | JPY 0 |
Taking out only your profit leaves Vantage's bonus intact. At HFM, even a profit-only withdrawal removes the same share of the bonus.
Forex bonus withdrawal rules by broker (cushion and credit types)
Trading costs on bonus accounts before you can withdraw
Bonus accounts can have wider spreads. Where profit withdrawal needs a set number of lots, count the cost of meeting that condition.
| Offer | Trading needed to unlock profit | Spread cost estimate |
|---|---|---|
| XS first deposit (JPY 10,000) | 5 lots (average 1.1 pips) | About JPY 5,500 |
| AXIORY 15th | 1.0 lot of FX pairs (USD/JPY 0.5 pips) | About JPY 500 |
| HFM Halloween 100% (JPY 45,000) | No volume rule | About JPY 800 more per lot than the Pro account |
| Vantage | No volume rule | About JPY 1,500 per lot at 1.5 pips on Standard |
Against XS's JPY 10,000, five lots cost about JPY 5,500 in spread. At HFM, about 56 lots of trading makes the spread gap with Pro add up to JPY 45,000.
Internal transfers: does moving funds earn a bonus?
Funds moved in from another account earn a bonus at HFM, Monaxa and AXIORY.
| Offer | Funds moved in from another account | Funds moved out of the bonus account |
|---|---|---|
| HFM Top-Up 20% | Counts (every deposit or transfer) | Same share removed (terms refer to withdrawals) |
| Monaxa Lifetime 30% | Counts (transfers between accounts included) | Removed in proportion to the transfer |
| AXIORY 15th | Counts (first transfer also gets 100%) | Remaining credit removed before unlock |
| Vantage | Does not count (internal transfers excluded) | Deducted on the same basis as withdrawals |
| XS first deposit | Not stated in what we checked | All removed before the conditions are met |
| Axi JP25Axi | Not stated in what we checked | Treated as a withdrawal and cancelled |
| INFINOX 20% | Not stated in what we checked | May be removed or adjusted in proportion |
Moving money out of a bonus account reduces or removes the bonus at all seven brokers, as the table shows. Read the transfer section of the terms first.
Eligible accounts and how their conditions differ
Most deposit bonuses are paid only into a specific account. On HFM's comparison page, TOP-UP BONUS sits as the sixth, separate account.
| Offer | Eligible account | What changes |
|---|---|---|
| HFM (both) | Top-Up Bonus account (MT4/MT5) | Max leverage 1:1000; no DMA products or ETFs |
| Vantage | Standard, ECN, Copy Trading | Premium, BTC and ETH accounts excluded |
| XS | MT5 Standard account | Only trades held 2+ minutes count toward 5 lots |
| Axi JP25Axi | Live account with the code applied | Demo accounts excluded; once per person |
| Monaxa (both) | Lifetime Bonus and Welcome Bonus accounts (USD) | 30% stop out; leverage up to 1:500 (1:2000 on regular accounts) |
| INFINOX | STP, ECN, ZERO (MT4/MT5) | Apply in the portal; credited after approval |
| AXIORY | MT4 and MT5 live accounts | Alpha, cTrader and Islamic accounts excluded |
HFM's Top-Up Bonus account has a USD 0 minimum deposit and a 0.01-lot minimum trade. You can choose USD, EUR or JPY, and trade on MT4, MT5, WebTrader or the HFM app.
At Monaxa, funds paid into a regular account become eligible once transferred to the Lifetime Bonus account (terms FAQ 4). A wrong deposit for the Welcome Bonus needs support's help.
Bonuses residents of Japan cannot receive
The same broker can offer different bonuses by country of residence. If you find a bonus on an English page or an international notice, check the eligible countries first.
| Offer | Residents of Japan | Basis |
|---|---|---|
| Axi JP25Axi | Eligible | For residents of Japan; residents of Australia, the UK, the EU, the US and others excluded |
| Axi AXI100 (100% Loyalty) | Not eligible | Japan is not among the eligible countries (checked 22 Oct) |
| Monaxa 50% first deposit and 50% redeposit | Not eligible | Terms cover 13 Middle East countries only; not on the Japanese page (checked 2 Sep) |
| HFM Top-Up 20% | Varies by region | Availability differs by region (terms) |
| Vantage deposit bonus | Depends on country | For eligible clients in eligible countries and regions (terms) |
The nine offers in this comparison were confirmed on pages or notices aimed at Japan. If an offer does not appear in your client portal, your account may not be eligible. AXI100 is open to residents of the countries listed in Axi's terms.
Check the operating company before you take a bonus
| Broker | Operating company and registration (FX Textbook broker data) |
|---|---|
| HFM | HF Markets (SV) Ltd, an international business company in St Vincent and the Grenadines (registration 22747 IBC 2015) |
| Axi | AxiTrader LLC, registered with the St Vincent and the Grenadines FSA (4303 LLC 2025); member of The Financial Commission |
| Monaxa | Monaxa Ltd, Mauritius FSC (GB23201577) |
| INFINOX | INFINOX Limited, Mauritius FSC (GB20025832) |
| AXIORY | Axiory Global Limited, Belize FSC (No. 4496214) |
| Vantage and XS | The applicable entity and licence are shown on the registration screen |
Bonus terms are set by the entity that holds your account. Check that the entity you deposit with matches the one named in the terms.
HFM's operating company and withdrawals, checked against official information
Deadlines and expiry: when to deposit and when bonus lapses
| Offer | Deposit by | Expiry or removal |
|---|---|---|
| Axi JP25Axi | Scheduled to end of October | Removed after the period |
| HFM Halloween 100% | 2 Nov 23:59 JST | Account closed after 60 days with no trades or transfers |
| INFINOX 20% | 31 December | Removed if requirements lapse or terms are broken |
| AXIORY 15th | 31 Dec 23:59 | Credit and profit removed if unlock conditions are not met by then |
| XS first deposit | Standing | Credit valid 60 days from issue |
| HFM Top-Up 20% | Standing | Account closed after 60 days with no trades or transfers |
| Monaxa (both) | Standing | May be cancelled a month after credit or if unused |
| Vantage | Standing | No separate inactivity expiry in the terms |
| Limited-time offer | Time left from 29 October |
|---|---|
| Axi JP25Axi | About 2 days (scheduled to end of October) |
| HFM Halloween 100% | 4 days (until 2 Nov 23:59) |
| INFINOX 20% | 63 days (until 31 December) |
| AXIORY 15th | 63 days (until 31 Dec 23:59) |
For Axi JP25Axi, the end time and October conditions shown in the client portal take priority.
HFM closes a Top-Up Bonus account without notice after 60 days with no deposits, withdrawals or trades. With no profit, the bonus goes back to HFM.
HFM deposit bonuses: Halloween 100% and standing 20%
- Halloween 100% runs from 26 Oct 14:00 to 2 Nov 23:59 JST
- Applies to the first deposit into a Top-Up Bonus account in the period, up to JPY 45,000
- Deposits made before account verification do not get the 100%
- Later deposits get the standing 20%, up to USD 5,000 in total
- One deposit never receives two bonuses
The screenshot shows HFM's page as captured on 29 October. The 100% box reads applies to first deposit, profit can be withdrawn, and applied automatically.
Both the 100% and the 20% go into the same Top-Up Bonus account, so you do not need a separate account for each.
| Deposit example | Bonus received |
|---|---|
| First deposit of JPY 10,000 in the period | JPY 10,000 (100%) |
| First deposit of JPY 50,000 in the period | JPY 45,000 (cap) |
| JPY 45,000 first, then JPY 20,000 | JPY 45,000 + JPY 4,000 (20% on the second) |
Easy-to-miss points in the Top-Up Bonus terms
- Full verification and phone number verification are required; 18 or over only
- No bonus is paid on a deposit that would earn less than USD 0.01
- DMA products and ETFs cannot be traded on a bonus account
- Losses from a stop out are not compensated
- In some regions the bonus is not offered at all
Vantage and XS: a tiered bonus and a fixed bonus
Vantage Trading: 120% on a first deposit within 7 days of approval
- First deposit within 7 days of approval 120%, from day 8 100% (bonus up to JPY 75,000)
- Second deposit 50% (up to JPY 150,000), third onwards 20%
- Total cap of USD 20,000
- Standard, ECN and Copy Trading accounts are eligible
- Internal transfers and balance adjustments do not count as deposits
Vantage's terms do not list KYC or a separate application as conditions for this bonus. Vantage says credit is added to the live account automatically once the deposit arrives.
Deposit JPY 62,500 within 7 days of approval and the bonus is JPY 75,000, for JPY 137,500 of margin in total.
The terms started on 1 April 2024 and run until further notice. Giving false information can lead to disqualification and removal of credit.
XS: JPY 10,000 on a first deposit of JPY 20,000 or more
- A one-off JPY 10,000 credit on a first deposit of JPY 20,000 or more
- MT5 Standard account; account opening and identity verification required
- 5 lots in total on FX, BTC, gold or silver within 60 days
- Only positions held for 2 minutes or more count
XS's JPY 10,000 does not grow with your deposit, so the effective rate is highest for small deposits.
| First deposit at XS | Total margin | Effective top-up |
|---|---|---|
| JPY 20,000 | JPY 30,000 | 50% |
| JPY 50,000 | JPY 60,000 | 20% |
| JPY 100,000 | JPY 110,000 | 10% |
Sizing trades with a bonus: calculate from your own money
A bonus shrinks with withdrawals and losses, and some accounts change how much of it you can use. Size trades on your own money, without the bonus.
| Step | Own money only | Including the bonus |
|---|---|---|
| Funds | JPY 100,000 | JPY 120,000 (Top-Up 20%) |
| Loss allowed per trade (2%) | JPY 2,000 | JPY 2,400 |
| Stop-loss distance | 20 pips | 20 pips |
| Trade size (USD/JPY) | 0.1 lot | 0.12 lot |
At 0.1 lot, a 20-pip move against you on USD/JPY loses JPY 2,000. At 0.12 lot sized on the bonus, it loses JPY 2,400, or 2.4% of your own JPY 100,000.
Sizing on the bonus means a withdrawal can cut the bonus straight away, so the same trade size suddenly risks a larger share of your account.
At AXIORY, usable credit drops to 50% once the stability score reaches 250. Monaxa's bonus accounts cut leverage from 1:500 toward 1:50 as open lots grow.
Axi, Monaxa, INFINOX and AXIORY deposit bonuses
Axi: apply JP25Axi, then deposit USD 125 or more
- Apply JP25Axi under Rewards, then Promo codes, in the client portal
- First deposit of USD 125+ and one trade in the period: 25%, up to USD 500
- For residents of Japan, once per person; cannot be combined with other offers
- If you enter with several accounts, only the first account is credited
- With copy trading, the credit can feed into trade size calculations
Axi AXI100: not open to residents of Japan
- Apply AXI100, then deposit USD 500+: 100% on each deposit, up to USD 10,000
- No cushion; runs 1 October to 31 December 2026 (UTC)
- Eligible countries are listed in Axi's terms; Japan is not among them
Monaxa: 30% builds up to USD 6,000
- 30% on every deposit to the Lifetime Bonus account, USD 25 to 20,000 each time
- Welcome Bonus: fixed USD 50 on a first deposit of USD 25
- Credited automatically, occasionally taking up to 48 business hours
- One account per profile, email, phone number, device and IP address
- No IB rebates are paid on trades made with the bonus
INFINOX: apply first, then deposit for 20%
- Apply for the promotion in the client portal and accept the terms
- 20% of deposits of USD 50 or more; minimum credit USD 10
- Deposits count up to USD 100,000; credit caps at USD 20,000
- Cashback of USD 1 per lot on FX and metals, USD 0.10 on indices and crude oil
AXIORY: invited new clients only
- USD 100 no-deposit credit plus 100% of the first deposit (up to USD 645)
- Invitations are sent automatically and cannot be requested
- Usable credit falls to 50% at a stability score of 250 and 0% at 350
- AXIORY caps total credit at JPY 650,000
- Claim through the dedicated badge on the portal dashboard
- The receiving account must have a zero balance and no open positions
| Offer | Deposit example | Bonus received |
|---|---|---|
| Axi JP25Axi | USD 125 | USD 31.25 |
| Axi JP25Axi | USD 3,000 | USD 500 (cap) |
| Monaxa 30% | USD 1,000 | USD 300 |
| INFINOX 20% | USD 500 | USD 100 |
| INFINOX 20% | USD 50 | USD 10 (minimum credit) |
| AXIORY 15th | JPY 50,000 | JPY 50,000 (JPY 65,000 with the no-deposit credit) |
| AXIORY 15th | JPY 150,000 | JPY 100,000 (cap) |
Four steps to receive a bonus, and a pre-deposit checklist
- 01Open an account and verify your identity
HFM gives no 100% on deposits made before verification. XS also requires completed verification.
- 02Open the eligible account, or apply the code or application
Open a Top-Up Bonus account at HFM or a Lifetime Bonus account at Monaxa. Apply JP25Axi at Axi, or apply at INFINOX, before you deposit.
- 03Deposit enough to qualify
Minimums are JPY 20,000 at XS, USD 125 at Axi and USD 50 at INFINOX. HFM's 100% covers only the first deposit in the period.
- 04Check the credit before trading
HFM, Vantage and Monaxa credit automatically after the deposit arrives. Axi credits after at least one trade in the period.
| Check before depositing | Where to look |
|---|---|
| Rate and cap that apply to you | The broker's client portal (Client Area at HFM) |
| Name of the account you pay into | Account list (Top-Up Bonus, Lifetime Bonus and so on) |
| Status of your code or application | Axi client portal, INFINOX client portal |
| Minimum deposit by method | The broker's deposit methods page |
| Bonus removal on withdrawal | The withdrawal and bonus removal sections of the terms |
The screenshot shows HFM's deposit methods page. As captured on 29 October, bank transfer starts at JPY 1,000 and JCB or VISA cards at JPY 750.
Prohibited trading and combining offers
Prohibited trading can cancel both bonus and profit. Check your own trading style against the rules before you deposit.
| Broker | Main prohibited trading | Combining offers |
|---|---|---|
| HFM | Hedging across internal or external accounts, joining with several accounts, arbitrage | One deposit never gets two bonuses |
| Vantage | Hedging, churning or abuse using credit | Not stated in what we checked |
| Axi | Arbitrage, hedging across accounts | Not combinable; once per person |
| Monaxa | Trading via VPS, scalping or high-frequency trading, hedging | Welcome Bonus combinable with a bonus on another account (two deposits) |
| INFINOX | Extra accounts or several IB links to claim twice | Not combinable with sign-up bonuses without written approval |
| AXIORY | Hedging across internal or external accounts | Combinable with other credit and cashback (up to JPY 650,000) |
Editor's verdict: choose by deposit size and withdrawal plans
Choose by when you plan to withdraw, not by the headline amount. If you will withdraw soon, put XS, Axi JP25Axi and AXIORY last, because an early withdrawal removes their whole bonus.
- Starting with about JPY 30,000: Vantage first deposit (JPY 36,000) or HFM Halloween (JPY 30,000)
- JPY 100,000+ at once: Vantage first deposit (JPY 82,500); HFM Halloween caps at JPY 45,000
- Depositing in several steps: HFM 20%, Monaxa 30%, INFINOX 20%
- Withdrawing only profit soon: Vantage (no deduction within realised profit)
- Want losses absorbed: HFM and Axi JP25Axi (cushion stated)
- Running an EA on a VPS: avoid Monaxa bonus accounts
If you are unsure, narrow it down by the deposit needed for the full bonus and how long until you withdraw. Deposit JPY 20,000 and leave it for 60 days, and XS gives you 1.5 times the margin.
If you want to try a bonus without depositing, compare sign-up bonuses first. No-deposit offers such as XS's JPY 5,000 are covered separately.
Forex no-deposit bonus comparison (XS, Vantage, HFM, AXIORY)
Frequently asked questions
Q. Can a forex deposit bonus be withdrawn?
A. No bonus among the nine can itself be withdrawn. Profit made with it can be, once conditions are met: none at HFM, 5 lots in 60 days at XS, and a JPY 20,000 deposit plus 1.0 lot at AXIORY.
Q. Which forex broker has the highest deposit bonus rate?
A. Leaving fixed-amount offers aside, Vantage's 120% on a first deposit within 7 days of approval. It applies to the first JPY 62,500, so JPY 100,000 earns JPY 82,500. HFM's Halloween 100% caps at JPY 45,000.
Q. Which deposit bonuses have a cushion feature?
A. HFM's Top-Up Bonus account offers and Axi's JP25Axi state it. Monaxa removes bonus at a 30% stop out. For Vantage and XS, the terms we checked say nothing about losses.
Q. Do later deposits also get a bonus?
A. HFM 20%, Monaxa 30% and INFINOX 20% pay on every deposit. Vantage pays 50% on the second and 20% after that. XS, Axi JP25Axi, AXIORY and HFM's Halloween 100% cover the first deposit only.
Q. Why has my deposit bonus not been credited?
A. Usually you deposited before verification, paid into the wrong account, or skipped a code or application. HFM gives no 100% before verification, Axi ignores deposits made before the code is applied, and INFINOX needs an application.
Q. Can I receive deposit bonuses from several brokers at once?
A. Yes, if you meet each broker's conditions. Within one broker there are limits: HFM never pays two bonuses on one deposit, and Axi JP25Axi cannot be combined with other offers.
Q. What is the difference between a deposit bonus and a sign-up bonus?
A. A sign-up bonus needs no deposit, while a deposit bonus depends on how much you pay in. XS offers both: JPY 5,000 for opening an account and JPY 10,000 on a first deposit of JPY 20,000 or more.
Q. Is profit from a deposit bonus taxed in Japan?
A. Forex profit at overseas brokers is generally treated as miscellaneous income under aggregate taxation. How the bonus itself is treated can depend on circumstances. Ask the tax office or a tax accountant for a final view.
Sources and conditions
- HFM 100% deposit bonus, Halloween (official, checked 26 October 2026) →
- HFM bonus offers (official, checked 1 September 2026, captured 29 October 2026) →
- HFM account comparison (captured 29 October 2026) →
- HFM deposit methods (captured 29 October 2026) →
- Vantage Trading deposit bonus terms (checked 5 August 2026) →
- XS first deposit bonus (official, checked 19 September 2026) →
- Axi 25% Cushioning Bonus JP25Axi (Axi's terms, checked 1 October 2026) →
- Axi 100% Loyalty Bonus AXI100 (official terms, checked 22 October 2026) →
- Monaxa promotions and bonuses (official, checked 2 September 2026) →
- INFINOX 20% Deposit Credit Bonus (terms, checked 15 August 2026) →
- AXIORY 15th Anniversary Welcome Package (official, checked 19 September 2026) →
- Bonuses and campaigns (FX Textbook) →
- Advertising, affiliate relationships and risk disclosure →
FX Textbook is an independent information site, not a broker or provider of personal investment advice. Forex and CFDs involve risk. You may lose some or all of your invested capital. No trading result is guaranteed.
NEXT STEP
Chosen your account? Check HFM's Top-Up Bonus account next.
HFM's page sets out the Top-Up Bonus account and its 20% deposit bonus. Offers from other brokers are on the bonuses and campaigns page.
Brokers covered in this column
Account types, trading conditions and current offers are on each broker page.