Starting forex without a deposit raises two questions: which no-deposit bonuses are still live, and how much profit you can withdraw.
As of 29 October 2026, brokers listed on FX Textbook offer four no-deposit bonuses: XS's JPY 5,000, Vantage Trading's up to USD 100, HFM's Bonus Hunter and AXIORY's invitation-only JPY 15,000.
We turn each withdrawal condition into trade counts and days, so by the end you will know which offer to claim first and how to unlock it.
In short: four no-deposit forex bonuses
- XS: JPY 5,000 once identity verification (KYC) is complete; no application
- Vantage Trading: USD 100 if KYC is done within 7 days of approval
- HFM Bonus Hunter: JPY 45,000 in trading funds; profit converts into a bonus
- AXIORY: JPY 15,000 credit, only for invited new clients
- None of the four bonuses can be withdrawn; profit withdrawal has conditions
By ease of claiming: XS credits automatically, Vantage needs an application and AXIORY needs an invitation email. HFM turns profit made with its trading funds into the next bonus.
Only XS and Vantage let you withdraw profit without ever depositing. AXIORY needs a JPY 20,000 deposit before any withdrawal.
No-deposit bonus comparison table
| Broker and amount | How to claim | Profit withdrawal condition |
|---|---|---|
| XS: JPY 5,000 | Automatic after KYC; Japan residents with Japanese nationality | 5 lots on the same account; only trades held 2 minutes or more count |
| Vantage: USD 100 / USD 70 | Open an eligible account, pass KYC, apply in the client portal | Without a deposit, 3 standard lots and profit capped at USD 70 |
| HFM: JPY 45,000 trading funds | Open a Bonus Hunter account within 30 days of verification | JPY 15,000 profit, 3+ round trips and 1 lot in total to convert |
| AXIORY: JPY 15,000 | Claim within 14 days of the invitation email | A single JPY 20,000 deposit, then 1.0 lot of FX pairs |
| Broker | Expiry | Times you can claim |
|---|---|---|
| XS | 60 days from the credit date | Main profile only |
| Vantage | Removed after more than 30 days without trading | Once per person |
| HFM | Profit transfer within 30 days | Once per person |
| AXIORY | 31 December 2026 23:59 JST | Once per person |
Vantage's terms show USD 100 as JPY 15,000 and USD 70 as JPY 10,000. AXIORY's terms set JPY amounts (checked 29 October 2026); USD or EUR accounts receive the converted amount.
Who can claim? Eligibility by broker
The biggest difference among the four is how existing clients are treated.
| Broker | Who qualifies | Existing clients |
|---|---|---|
| XS | People living in Japan with Japanese nationality (main profile only) | Eligible, even if KYC is already done |
| Vantage | New clients in eligible countries or regions | New clients only, once per person |
| HFM | Clients who have completed verification | Not limited to new clients in our data; open within 30 days |
| AXIORY | Invited new clients aged 18+ | Only those who never deposited before the promotion |
XS requires Japanese nationality. Living in Japan without Japanese nationality does not qualify.
Vantage credits the first eligible account you open. If your first account is in BTC or ETH, the credit goes to a later USD or JPY account.
What is a no-deposit bonus? How it differs from a deposit bonus
A no-deposit bonus is trading credit added to your account without a deposit. It is also called a welcome bonus or registration bonus.
| Item | No-deposit bonus | Deposit bonus |
|---|---|---|
| Deposit | Not needed | Needed |
| Amount | Fixed by the broker | Deposit × rate (capped) |
| Trigger | KYC or an application | A deposit to the eligible account |
| Live examples | XS JPY 5,000, Vantage up to USD 100 | XS first deposit JPY 10,000, HFM 20% top-up |
Credit can be used as margin. It shrinks with losses, and the credit itself cannot be withdrawn.
What the four brokers call them
| Broker | Official name | What you get |
|---|---|---|
| XS | KYC Welcome Bonus | JPY 5,000 credit |
| Vantage | No Deposit Bonus Promotion | USD 100 or USD 70 trading credit |
| HFM | Bonus Hunter | A dedicated account with JPY 45,000 in trading funds |
| AXIORY | Support credit bonus (Stage 1 of the starter pack) | JPY 15,000 no-deposit credit |
AXIORY's official page says its credit has a loss cover feature: it absorbs losses and lets you trade on credit alone (checked 29 October 2026).
Why Japanese domestic brokers do not offer them
All brokers listed on FX Textbook are offshore. Brokers registered in Japan are bound by Article 39 of the Financial Instruments and Exchange Act.
Article 39 bans giving clients financial benefits to make up for their losses. Credit that absorbs losses is not something registered Japanese brokers offer.
Pros and cons of a no-deposit bonus
| Pros | Cons |
|---|---|
| You can place real orders without your own money | The bonus itself cannot be withdrawn |
| You can test the platform and withdrawal flow before depositing | Profit withdrawal needs trading volume (1 to 5 lots) |
| All four show negative balance protection as available* | Deadlines apply (7, 14, 30 and 60 days) |
| Some brokers lead on to a deposit bonus | Withdrawals and transfers can remove the credit |
※ *Conditions and exceptions in each broker's terms take priority.
Starting without a deposit does not make losses disappear. What you lose is the credit, and profit stays locked until the conditions are met.
AXIORY states that if negative balance protection applies and all positions are closed, the remaining credit covers the shortfall.
XS JPY 5,000 welcome bonus: credited after KYC
Once KYC is done, XS creates a dedicated Welcome 5000 account and adds JPY 5,000. There is nothing to apply for.
| Item | Details |
|---|---|
| Eligible clients | New and existing clients living in Japan with Japanese nationality |
| Account | MT5 JPY Welcome 5000 account |
| Initial leverage | 1:2000 (13 settings from 1:1 to 1:2000) |
| Instruments | Forex, precious metals and BTC |
| Withdrawal condition | 5 lots on the same account; only trades held 2 minutes or more count |
| Expiry | 60 calendar days from the credit date |
- 01Register with XS and pass KYC
Japanese nationals qualify. Once KYC is approved, the process starts.
- 02Check the Welcome 5000 account
An MT5 JPY account is created with JPY 5,000 of credit.
- 03Trade 5 lots within 60 days
Only trades held 2 minutes or more count. Forex, precious metals and BTC are available.
You can withdraw profit or your own deposits at any time. When you do, the whole credit is removed.
Existing clients who already passed KYC qualify. Duplicate registrations and sub-accounts do not, and XS reclaims the credit if it finds them.
The XS page says that once the 5-lot condition is met, the bonus is converted into withdrawable balance at set intervals (checked 29 October 2026). Our offer data says the credit itself cannot be withdrawn. What your account shows takes priority.
What the XS FAQ confirms
- The 5 lots are the cumulative volume of closed positions
- The Welcome 5000 account works as a normal account and accepts deposits
- You can move the balance, but doing so sets the credit to zero
- The account stays usable after the bonus is lost or expires
XS bonuses: JPY 5,000 welcome and JPY 10,000 first-deposit rules
Vantage Trading registration bonus: up to USD 100
Vantage's amount depends on when you finish KYC. Within 7 days of real-account approval you get USD 100; from day 8, USD 70.
| Item | Details |
|---|---|
| Eligible accounts | Standard (USD/JPY), ECN and copy-trading accounts |
| Excluded | Premium accounts and BTC/ETH accounts |
| Verification | ID, proof of address and a selfie |
| Claim | In the client portal, once per person |
| Withdrawal without a deposit | 3 standard lots; profit capped at USD 70 (JPY 10,000) |
| Withdrawal after a deposit | At least one trade, no profit cap |
| Holding time | Each trade held 5 minutes or more |
- 01Open an eligible account
Standard, ECN or copy trading, in USD or JPY.
- 02Finish KYC within 7 days
Submit ID, proof of address and a selfie. Within 7 days of approval, you get USD 100.
- 03Apply in the client portal
Apply from the promotion display. One application per person.
The terms say the credit arrives within 24 hours of KYC, while the promotion text says 48 hours. Check the claim screen.
- The credit is removed after more than 30 days without trading
- If the first account has no deposit or trade for 90 days, it is archived
- Withdrawing anything other than profit reduces the credit by the terms' formula
- On copy-trading accounts, only trades you place manually count
How far USD 100 goes on EUR/USD
| Trade size | P/L per pip | Move that uses up USD 100 |
|---|---|---|
| 0.01 lot | USD 0.1 | About 1,000 pips |
| 0.1 lot | USD 1 | About 100 pips |
| 1 lot | USD 10 | About 10 pips |
Without a deposit, only USD 70 can be withdrawn even if profit is higher. To remove the cap, deposit your own funds and make one trade.
HFM Bonus Hunter: how the JPY 45,000 trading funds work
Bonus Hunter is a dedicated account with JPY 45,000 in trading funds. The funds themselves cannot be withdrawn.
Transfer qualifying profit to a Top-Up Bonus account and it becomes a 100% deposit bonus of the same amount, up to JPY 150,000.
| Stage | Condition |
|---|---|
| Open the account | In the client area within 30 days of verification |
| Trade | Forex, gold, silver and crypto |
| Apply to convert | JPY 15,000 profit, 3+ round trips, 1 standard lot in total |
| Transfer | Move the profit to a Top-Up Bonus account within 30 days |
| After conversion | Treated as a Top-Up Bonus trading bonus |
For example, JPY 20,000 of qualifying profit becomes a JPY 20,000 100% deposit bonus. After the transfer, the Bonus Hunter account is closed automatically.
- Based on the Premium account, maximum leverage 1:1000
- Once per person
- Close all positions and pending orders before applying
- The converted bonus cannot be withdrawn and is removed in proportion to withdrawals
Examples by profit amount
| Bonus Hunter profit | Bonus after conversion | Note |
|---|---|---|
| JPY 10,000 | Cannot convert | Below the JPY 15,000 profit condition |
| JPY 15,000 | JPY 15,000 | Exactly the profit condition |
| JPY 50,000 | JPY 50,000 | Same as the profit |
| JPY 150,000 | JPY 150,000 | The cap |
How much JPY 45,000 can hold (up to 1:1000)
| Trade size | Margin | P/L per pip |
|---|---|---|
| 0.01 lot | JPY 150 | JPY 10 |
| 0.1 lot | JPY 1,500 | JPY 100 |
| 1 lot | JPY 15,000 | JPY 1,000 |
At 1 lot, a 45-pip move against you would use up JPY 45,000. The JPY 15,000 profit condition equals a 15-pip move at 1 lot.
Rules on the Top-Up Bonus account after conversion
- After 60 days with no deposit, withdrawal or trade, the account closes without notice
- Withdrawing 30% of the withdrawable amount removes 30% of the bonus
- Maximum leverage 1:1000, spreads from 1.4 pips
- DMA products and ETFs cannot be traded on bonus accounts
Each deposit to the Top-Up Bonus account also earns a 20% bonus, up to USD 5,000 in total.
AXIORY's no-deposit credit is invitation only
AXIORY's 15th Anniversary Welcome Package is only for new clients who receive an invitation email. AXIORY sends invitations automatically by its own criteria; you cannot request one.
| Item | Details |
|---|---|
| Stage 1 | No-deposit credit of JPY 15,000 |
| Stage 2 | 100% of the first deposit into the same account, up to JPY 100,000 |
| Claim deadline | Within 14 days of the invitation email |
| Receiving account | MT4/MT5 account with zero balance and no positions |
| Excluded accounts | Alpha, cTrader and Islamic accounts |
| Expiry | 31 December 2026 23:59 JST |
To claim, follow the link in the email to the AXIORY portal and press the dedicated badge. Demo users can join by upgrading to a live account.
Unlocking profit takes two steps. First deposit JPY 20,000 or more in a single deposit to the same account, then trade at least 1.0 lot of FX pairs.
| Stability Score | Usable credit |
|---|---|
| 0-249 (Level 1) | 100% |
| 250-349 (Level 2) | 50% |
| 350 or more (Level 3) | 0% |
※ Our offer data includes the Tera account. The eligible accounts listed on the official page are Standard, Nano, Zero and Max (checked 29 October 2026).
Total credit by first deposit
| First deposit | Stage 2 credit | Total credit |
|---|---|---|
| JPY 20,000 | JPY 20,000 | JPY 35,000 |
| JPY 50,000 | JPY 50,000 | JPY 65,000 |
| JPY 100,000 | JPY 100,000 | JPY 115,000 |
| JPY 150,000 | JPY 100,000 (cap) | JPY 115,000 |
※ A first deposit of JPY 20,000 or more also completes Step 1 of the unlock. Later deposits earn no credit.
Losses come out of your deposited balance before the credit. Combined with other credit, the cumulative cap is JPY 650,000.
Stability Score: JPY 15,000 alone halves at 0.25 lot
The score is lots × value rate × 100,000, divided by balance plus credit in USD. The value rate is 1 for FX pairs and 3 for gold.
| Account state | Lots for score 250 (50%) | Lots for score 350 (0%) |
|---|---|---|
| JPY 15,000 credit only | About 0.25 lot | About 0.35 lot |
| JPY 20,000 deposit + JPY 35,000 credit | About 0.92 lot | About 1.29 lots |
| JPY 100,000 deposit + JPY 115,000 credit | About 3.60 lots | About 5.04 lots |
| JPY 15,000 credit only, gold | About 0.084 lot | About 0.117 lot |
Holding 1.0 lot at once on a JPY 20,000 deposit gives a score of about 271, Level 2. The 1.0-lot unlock only needs to be reached in total.
Buy and sell positions in the same symbol are netted. Buying 5 lots and selling 4 counts as 1 lot (official FAQ example).
What the AXIORY FAQ confirms
- A single transfer of JPY 20,000+ from another account also completes Step 1
- Trades before the Step 1 deposit do not count toward the 1.0 lot
- USD or EUR accounts can receive it, converted from JPY
- If you already hold a live account, you cannot upgrade a demo to join
- A negative balance is deducted from the credit and reset to zero
AXIORY bonus: how to claim the starter pack and unlock profit
Four steps to claim a no-deposit bonus
- 01Check the eligible account and register
Vantage excludes Premium accounts. AXIORY credit goes to an MT4 or MT5 account.
- 02Complete KYC
Submit ID and proof of address. Vantage also asks for a selfie.
- 03Claim it
XS credits automatically. Vantage needs a portal application and AXIORY a badge click. At HFM, you open the Bonus Hunter account yourself.
- 04Check the balance before trading
Confirm the account number and amount before you trade. If nothing arrived, contact support without trading.
At Vantage the amount drops if KYC is not done within 7 days of approval. Have your documents ready before you open the account.
Verification documents and review times
| Broker | Documents | Typical timing |
|---|---|---|
| XS | Driving licence, ID card, passport, residence permit and similar | No Japan-specific time stated |
| Vantage | ID, proof of address and a selfie | Credit within 24 to 48 hours of KYC |
| HFM | Passport or similar, plus a bank statement or utility bill from the last 6 months | Within 48 hours |
| AXIORY | As requested on the application screen | Claim within 14 days of the invitation |
At HFM, the name on your ID and on your proof of address must match. Enter your name and address exactly as they appear on the documents.
Turning the withdrawal volume into trade counts
Divide the required lots by your trade size to get the number of trades. At 0.01 lot, XS's 5 lots mean 500 trades.
| Broker | Required volume | At 0.01 lot | At 0.1 lot |
|---|---|---|---|
| XS | 5 lots | 500 trades | 50 trades |
| Vantage | 3 standard lots | 300 trades | 30 trades |
| HFM | 1 lot in total (3+ round trips) | 100 trades | 10 trades |
| AXIORY | 1.0 lot of FX pairs | 100 trades | 10 trades |
Example: how far JPY 5,000 can move against you
| Trade size | P/L per pip | Move that wipes out JPY 5,000 |
|---|---|---|
| 0.01 lot | JPY 10 | About 500 pips |
| 0.1 lot | JPY 100 | About 50 pips |
| 0.5 lot | JPY 500 | About 10 pips |
※ At 1:2000, margin for 1 lot is JPY 7,500 (USD/JPY at 150). You can open 0.5 lot for JPY 3,750, but a 10-pip move against you would use up the credit.
Holding time also matters. XS counts trades held 2 minutes or more and Vantage 5 minutes or more.
HFM also needs JPY 15,000 of profit. Three trades of 0.34 lot make 1.02 lots, at JPY 340 per pip.
Working through a withdrawal with sample numbers
Every figure below is hypothetical.
| Broker | Sample result | What you can withdraw |
|---|---|---|
| XS | 100 trades of 0.05 lot = 5 lots; JPY 3,000 profit | Withdraw the JPY 3,000; the JPY 5,000 credit is removed |
| Vantage | 3 standard lots, no deposit; USD 90 profit | Up to USD 70 |
| HFM | Conditions met with JPY 20,000 profit | Not paid out; becomes a JPY 20,000 100% deposit bonus |
| AXIORY | JPY 8,000 profit; deposit JPY 20,000 and trade 1.0 lot | Withdraw once unlocked; credit falls in proportion |
At HFM, depositing JPY 50,000 into the converted Top-Up Bonus account adds a further 20%, or JPY 10,000.
At AXIORY the JPY 20,000 deposit also earns JPY 20,000 of Stage 2 credit. The terms note that withdrawal fees apply.
Claim and expiry deadlines in days
| Broker | Deadline to claim | Bonus expiry |
|---|---|---|
| XS | None stated (credited after KYC) | 60 days from the credit date |
| Vantage | USD 100 if KYC within 7 days of approval | Removed after 30+ days without trading |
| HFM | Open the account within 30 days of verification | Profit transfer within 30 days |
| AXIORY | Within 14 days of the invitation email | 31 December 2026 23:59 JST |
The short windows are Vantage's 7 days and AXIORY's 14 days. Finish KYC in the week you open the account and you will meet both.
XS's 60 days are calendar days from the credit date, weekends included. Reaching 5 lots at 0.01 lot means 500 trades in 60 days, 8 to 9 a day.
If you deposit afterwards: the next bonus
All four brokers add another offer when you deposit after the no-deposit bonus.
| Broker | Next deposit bonus | Main conditions |
|---|---|---|
| XS | First deposit bonus JPY 10,000 | First deposit of JPY 20,000+, 5 lots within 60 days |
| Vantage | 120% first deposit (within 7 days of approval) | 120% on deposits up to JPY 62,500 (bonus up to JPY 75,000 / USD 500), 20% above that |
| HFM | 20% Top-Up Bonus account deposit bonus | 20% on every deposit, USD 5,000 in total |
| AXIORY | 100% first deposit (Stage 2) | Up to JPY 100,000, first deposit to the same account only |
From day 8 after approval, Vantage's first deposit bonus drops to 100%. The 7-day line matters here too.
XS's first deposit bonus goes to a separate MT5 Standard account. It is not added to the welcome bonus account.
Bonus by deposit amount
| Deposit | Vantage (within 7 days) | XS first deposit | HFM Top-Up |
|---|---|---|---|
| JPY 20,000 | JPY 24,000 | JPY 10,000 | JPY 4,000 |
| JPY 50,000 | JPY 60,000 | JPY 10,000 | JPY 10,000 |
| JPY 100,000 | JPY 82,500 | JPY 10,000 | JPY 20,000 |
XS pays a flat JPY 10,000 regardless of the amount.
Forex deposit bonus comparison: rates, caps and withdrawal rules
Actions that remove or cancel the bonus
| Broker | What removes or reduces the credit |
|---|---|
| XS | Withdrawing profit or moving funds to the wallet or another account removes it all |
| Vantage | Withdrawing anything but profit reduces it; internal transfers do not carry it over |
| HFM | The converted bonus is removed in the same proportion as a withdrawal |
| AXIORY | Withdrawing deposits before unlocking removes the credit and profit |
- Duplicate registrations and sub-accounts are excluded (XS)
- Internal or external hedging and churning can void eligibility (Vantage)
- Risk-free extraction trading and hedging lead to disqualification (AXIORY)
- Credit lost in trading is not re-granted after a new deposit (AXIORY)
At AXIORY you cannot move funds to another account until the conditions are met. Check that the conditions show as met before you press withdraw.
Once unlocked, credit falls in proportion to withdrawals. With a JPY 100,000 balance and JPY 5,000 credit, withdrawing JPY 20,000 leaves JPY 4,000 credit (official FAQ example).
Forex bonus withdrawal rules: how withdrawals remove bonuses
If the no-deposit bonus does not appear
- 01Check your verification status
All four need approved KYC. If it was rejected or is pending, read the reason and resubmit.
- 02Check the claim step
Vantage pays nothing without an application. AXIORY needs the badge via the email link, and at HFM you open the Bonus Hunter account yourself.
- 03Check the account
XS credits the Welcome 5000 account and HFM the Bonus Hunter account. Vantage BTC/ETH and Premium accounts are excluded.
- 04Check the deadline
Vantage pays USD 70 from day 8. AXIORY closes after 14 days from the invitation and HFM after 30 days from verification.
- 05Contact support before trading
Give your account number and KYC completion date. Do not trade on that account until you hear back.
AXIORY only credits accounts with zero balance and no positions. An account you have already funded or traded on will not receive it.
When AXIORY sends the invitation email, a dedicated badge also appears in the portal (official FAQ). No badge means you were not invited.
Whether corporate accounts qualify is not stated on the four brokers' official pages and terms we checked (October 2026).
How to choose: four things to compare
| What to check | Where to look | How the four differ |
|---|---|---|
| Does it absorb losses? | Margin and equity sections of the terms | AXIORY states a loss cover feature |
| Profit withdrawal condition | Withdrawal and volume sections | From 1 lot to 5 lots |
| Deadlines | Claim deadline and expiry | 7, 14, 30 and 60 days |
| Operator | Entity shown at registration | AXIORY: Axiory Global Limited (Belize FSC) |
Choosing on amount alone hides the withdrawal gap. XS's 5 lots and AXIORY's 1.0 lot differ fivefold in required volume.
The entity you contract with appears during account opening. HFM names HF Markets (SV) Ltd and Vantage names Vantage Trading Ltd. on their official sites.
AXIORY's equity examples
| Equity | Credit | Equity without credit | Bonus status |
|---|---|---|---|
| JPY 10,000 | JPY 5,000 | JPY 5,000 | Stays active |
| JPY 4,999 | JPY 5,000 | -JPY 1 | Stays active (total equity is positive) |
Credit that absorbs losses is often called a cushion bonus. It is not a standard term, so check in the terms whether the credit counts toward equity.
No-deposit bonuses, negative balance protection and stop out
On a no-deposit account, a stop out closes positions before the credit runs out. The level differs by broker and account.
| Broker | Negative balance protection (our listing) | Stop out (broker data) |
|---|---|---|
| XS | Yes* | Depends on account and conditions |
| Vantage | Yes* | Depends on account and conditions |
| HFM | Yes* | Stop out 20% (KATANA 0%) |
| AXIORY | Yes* | Stop out 20% (Max account 0%) |
※ *Conditions and exceptions in each broker's terms take priority. Check the account screen for any separate level on HFM's Bonus Hunter or AXIORY's bonus accounts.
AXIORY's FAQ gives an example where negative balance protection leaves the balance at -JPY 200. With JPY 20,000 of usable credit, JPY 200 is deducted, leaving JPY 19,800.
How to use a no-deposit bonus before you deposit
A no-deposit account lets you test the trading screens before putting in your own money. XS's dedicated account lets you choose leverage from 1:1 to 1:2000.
- Run through an order from entry to close on MT5 or the app
- Watch how the displayed spread changes across trading hours
- Change the lot size and check P/L per pip and margin
- Open the withdrawal screen and see what happens to the credit
Credit shrinks with losses. Size trades on the amount you can afford to lose, not on the credit.
Sizing a trade from a loss limit
| Bonus | Loss limit per trade (2% example) | Room at 0.01 lot |
|---|---|---|
| XS JPY 5,000 | JPY 100 | 10 pips (USD/JPY) |
| Vantage USD 100 | USD 2 | 20 pips (EUR/USD) |
| HFM JPY 45,000 | JPY 900 | 90 pips (USD/JPY) |
| AXIORY JPY 15,000 | JPY 300 | 30 pips (USD/JPY) |
Platforms on the bonus accounts
| Broker | Bonus account | Platforms |
|---|---|---|
| XS | Welcome 5000 (MT5, JPY) | MT5 |
| Vantage | Standard, ECN, copy trading | MT4, MT5, WebTrader, Vantage app |
| HFM | Bonus Hunter (based on Premium) | MT4, MT5, WebTrader, HFM app |
| AXIORY | MT4/MT5 trading account | MT4, MT5 (cTrader excluded) |
The Vantage and HFM rows list each broker's platforms in general. Check which ones the bonus account supports once it is open.
Tax on profit from a no-deposit bonus (Japan)
| Item | Details |
|---|---|
| Income category | Generally miscellaneous income, taxed together with other income |
| Rates | Progressive income tax of 5-45% plus 10% resident tax |
| Filing threshold | Salaried workers file when non-salary income exceeds JPY 200,000 a year |
| Losses | Cannot be offset against salary or other income |
Profit from trades made with bonus credit is counted as forex profit. The JPY 200,000 line decides whether you must file; it does not make the income tax-free.
The JPY 200,000 is income after expenses, not revenue. It includes profit at other brokers and other miscellaneous income such as crypto gains.
The National Tax Agency pages we checked do not address forex bonuses themselves (October 2026). Keep your trade history and ask a tax office or tax accountant if unsure.
Listed brokers without a no-deposit bonus, and what they offer
Of the 10 forex brokers listed on FX Textbook, four have a no-deposit bonus in our data. The other six offer deposit-based promotions or none that we list.
| Broker | Offers listed (as of 29 October 2026) |
|---|---|
| Axi | 25% cushion deposit bonus (scheduled to end in October), Peska deposit cashback (to 31 October) |
| Monaxa | USD 50 welcome bonus for a USD 25 deposit, 30% lifetime bonus |
| INFINOX | 20% deposit credit bonus (to 31 December 2026) |
| DecodeFX | Peska deposit cashback (to 30 October, server time) |
| Exness | Official FAQ says it offers no welcome or deposit bonus (checked 29 October 2026) |
| XMTrading | No bonus in our offer data |
Some offers need only a small deposit. XS's first deposit bonus gives JPY 10,000 for a deposit of JPY 20,000 or more.
Axi's 100% loyalty bonus (AXI100) is not open to Japan residents, so it is not in the table above. Readers elsewhere can check eligibility on the offer page.
Checking the latest conditions on official screens
Bonus conditions can change without notice. Before applying, check these screens at each broker.
| Broker | Where | What to look for |
|---|---|---|
| XS | Official KYC Welcome Bonus page | Key terms table (account type, expiry, instruments) |
| Vantage | Client portal | The promotion display; no display means not eligible |
| HFM | Client area | The menu to open a Bonus Hunter account |
| AXIORY | AXIORY portal dashboard | The exclusive bonus badge |
Vantage's terms say clients who do not see the promotion in their portal are not eligible. AXIORY's badge stops working 14 days after the invitation.
If a screen differs from this article, the screen takes priority. Save a copy of it to use when contacting support.
Ended account-opening campaigns (September 2026)
In September 2026 FX Textbook ran account-opening campaigns with XS and Axi. Both are closed.
| Campaign | Reward and condition | Closed |
|---|---|---|
| XS x FX Textbook new account | JPY 5,000 Amazon gift card for a new account and one 0.01-lot trade | 17 September (30 places filled) |
| Axi x FX Textbook new account | JPY 5,000 Amazon gift card for a new account and one 0.01-lot trade | 30 September |
We post the start and end of our campaigns on the news page. Live offers are listed on the bonus and campaign page.
Which no-deposit bonus to claim first
For the least effort, start with XS's JPY 5,000; for more money, finish KYC within 7 days for Vantage's USD 100. To test with larger funds, use HFM's Bonus Hunter. If AXIORY invited you, claim within 14 days.
| Your situation | Look at first | Why |
|---|---|---|
| Skip applications | XS JPY 5,000 | Credited automatically after KYC |
| Get the most credit | Vantage USD 100 | USD 30 more than USD 70 with KYC in 7 days |
| Test with larger funds | HFM Bonus Hunter | JPY 45,000 in trading funds |
| Happy to deposit a little | AXIORY (if invited) | Unlock with JPY 20,000 and 1.0 lot |
If you claim at several brokers, go in order of the shortest deadline: Vantage's 7 days, AXIORY's 14 days, HFM's 30 days and XS's 60 days.
All four are standing offers or run to the end of the year.
Frequently asked questions
Q. Are forex no-deposit bonuses really free of any deposit?
A. XS's JPY 5,000, Vantage's up to USD 100 and HFM's JPY 45,000 trading funds need no deposit. AXIORY's credit also needs none, but only invited new clients qualify. None of the four bonuses can be withdrawn.
Q. How much profit can I withdraw from a no-deposit bonus?
A. At Vantage, without a deposit, up to USD 70 after 3 standard lots; after a deposit there is no cap. XS lets you withdraw profit after 5 lots, and the credit is then removed. HFM converts profit into a 100% deposit bonus instead of paying it out.
Q. Can I get a no-deposit bonus twice?
A. No. Vantage, HFM and AXIORY allow one per person, and XS covers the main profile only. Duplicate registrations or sub-accounts can lead to the credit being cancelled or reclaimed. AXIORY allows one live account per email address.
Q. Can I combine a no-deposit bonus with a deposit bonus?
A. At XS you can receive the welcome bonus and, separately, the JPY 10,000 first deposit bonus for a deposit of JPY 20,000 or more. At AXIORY the first deposit 100% follows the no-deposit credit on the same account. Vantage adds 120% on a first deposit within 7 days of approval, and HFM adds 20% on deposits to a Top-Up Bonus account.
Q. Is there a no-deposit bonus worth JPY 20,000 or more?
A. Among brokers we list, HFM's Bonus Hunter provides JPY 45,000 in trading funds. The funds cannot be withdrawn, and profit converts into a deposit bonus. Vantage and AXIORY are worth about JPY 15,000, and XS JPY 5,000.
Q. Can I trade with the no-deposit bonus alone?
A. Yes. On an account with no deposit, the credit or trading funds serve as margin. Using XS's JPY 5,000 at 0.01 lot, one pip is worth JPY 10. Once the credit is gone, you cannot trade further.
Q. Is profit from a no-deposit bonus taxed in Japan?
A. Profit from trades using bonus credit is generally treated as miscellaneous income, like other offshore forex profit. Salaried workers must file if non-salary income exceeds JPY 200,000 a year. We have not found National Tax Agency guidance on the bonus itself.
Q. What if the no-deposit bonus does not arrive?
A. Check that KYC is approved and that you are looking at the eligible account. Vantage needs an application and AXIORY needs an invitation email. If it still has not arrived, contact the broker's support before trading.
Sources and conditions
- XS KYC welcome bonus (official, checked 29 October 2026) →
- Vantage Trading registration bonus terms (official, checked 19 September 2026) →
- HFM Bonus Hunter (official, checked 19 September 2026) →
- AXIORY 15th Anniversary Welcome Package (official, checked 29 October 2026) →
- AXIORY Welcome Package terms (official PDF, checked 29 October 2026) →
- AXIORY FAQ: campaigns and bonuses (official, checked 29 October 2026) →
- Financial Instruments and Exchange Act, Article 39 (e-Gov, checked 29 October 2026) →
- National Tax Agency Tax Answer No.1521 (forex taxation) →
- XS welcome bonus details (FX Textbook) →
- Vantage Trading registration bonus details (FX Textbook) →
- HFM Bonus Hunter details (FX Textbook) →
- AXIORY Welcome Package details (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.
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