Switch Markets 100% Deposit Bonus - How to claim it + T&C

Switch Markets is an online broker offering trading services across forex, commodities, indices, and other CFD instruments. To attract and support traders, the broker provides promotional offers, including its 100% Credit Bonus. This promotion is designed to increase your trading power by giving you additional margin. However, like all bonuses, it comes with specific rules and limitations.

In this article, we break down everything you need to know about the Switch Markets 100% Credit Bonus, including eligibility, how to claim it, and the key terms and conditions to be aware of before participating.

What is the Switch Markets 100% Deposit Bonus?

The Switch Markets 100% Deposit Bonus is a credit-based promotion that matches your deposit dollar-for-dollar. This means that if you deposit $500, you may receive an additional $500 as bonus credit, giving you a total of $1,000 in trading margin. The maximum bonus available is $5,000 per client, and it is calculated based on the total cumulative deposits made over time rather than individual deposits.

It is important to understand that this bonus is not withdrawable and is not considered part of your actual account balance. Instead, it is provided strictly as trading credit to increase your available margin. This allows traders to open larger positions or maintain trades more comfortably, but it does not function as real cash in the account.

Subject to regional availability. Terms and Conditions Apply.
Your capital is at risk. Leveraged products may not be suitable for everyone.

How to Claim the Switch Markets 100% Deposit Bonus

Claiming the Switch Markets 100% Credit Bonus involves a straightforward process, but timing and eligibility conditions are critical. Follow the steps below:

Step 1: Open and Verify a Switch Markets Account

Begin by visiting the official Switch Markets website (www.switchmarkets.com) and registering for a live trading account. Complete the application process by providing your personal details. Once registered, you must complete the onboarding process, which includes completing the verification process. This typically involves uploading a government-issued ID and proof of address.

Step 2: Deposit Funds

Once your account is verified, log in to your client portal and make a deposit. The minimum deposit required to qualify for the bonus is $50. Switch Markets supports various deposit methods, including Bank transfer, Credit/Debit Cards, Interac, Neteller, Skrill, Fasapay, NganLuon.vn, PayTrust, UnionPay, DragonPay, and Cryptocurrencies, among others. Please note that the specific options available to you may vary depending on your region.

Step 3: Request the Bonus Within 72 Hours Before Trading

This is a critical step. The bonus must be requested before any trading activity occurs on the account. Importantly, the Credit Bonus is added automatically if you qualify, accept the Terms & Conditions in your account, and meet all the requirements.

If it is not added automatically, you can request it by contacting support through live chat or by emailing [email protected] after making your deposit, accepting the Terms & Conditions, and meeting the eligibility criteria. The request must be submitted within 72 hours of making the qualifying deposit.

Terms and Conditions of the Switch Markets 100% Credit Bonus

As with any promotional offer, understanding the terms and conditions is essential before participating. Below are the key terms:

Eligibility and Availability

The bonus is available to eligible clients who pass anti-money laundering (AML) and counter-terrorism financing (CTF) checks. However, residents of the European Union, Turkey, India, and Zimbabwe are strictly excluded from this promotion. The bonus may be denied if trading has already started or if the request is made outside the 72-hour window. Additionally, the broker reserves the right to approve or reject any participant at its discretion.

The 1:1 Bonus-to-Equity Matching Rule

The total credit bonus on any trading account must never exceed the value of the client’s real funds (equity). The bonus is maintained at a maximum 1:1 ratio to actual deposited funds. If your equity drops due to losses or withdrawals, Switch Markets reserves the right to reduce your bonus to maintain this 1:1 ratio.

Bonus Usage and Withdrawal Terms

The bonus is provided as margin credit only, meaning it is meant to help you open and maintain trading positions. It is non-withdrawable, so you cannot take out the bonus funds themselves. In addition, the bonus does not cover trading losses or drawdowns, as it is strictly intended to offer extra margin.

Withdrawals made while an active credit bonus is on the account result in a proportional reduction of the bonus. For example, if your account holds $500 in real funds and $500 in bonus, and you withdraw $250 (50% of your real balance), 50% of the bonus ($250) will also be deducted. This process is automatic.

Auto Stop-Out

Traders should pay close attention to the risk implications of this bonus. If your real funds are fully depleted, the bonus will be automatically removed from your account. Once this happens, a stop-out will be triggered, and all open positions may be closed immediately.

What Switch Markets Offers to Traders

Switch Markets gives traders access to over 1,000 market instruments from various market categories. Traders can explore a wide range of CFDs, including forex, commodities, indices, stocks, ETFs, and cryptocurrencies. To trade these markets, Switch Markets provides two of the most popular trading platforms in the industry, which include MetaTrader 4 and MetaTrader 5.

When it comes to trading costs, Switch Markets offers competitive pricing across its account types. The Standard account features spreads starting from around 1.4 pips on major currency pairs with no commission. On the other hand, the Pro account offers raw spreads from as low as 0.0 pips, with a commission of $3.5 per side per lot.

The Credibility of Switch Markets

When considering any promotion offered by a broker, it is important to assess the overall credibility of that broker. Switch Markets Pty Ltd operates under a license from the VFSC in Vanuatu, which serves as its primary regulatory authority. Additionally, it has oversight from ASIC in Australia, which adds an extra layer of credibility. However, note that Switch Markets does not provide services to Australian residents.

Beyond regulation, Switch Markets has earned a strong reputation among its users. It holds an impressive rating of 4.7 out of 5 on Trustpilot, based on more than 850 reviews. A large majority of users often praise its responsive customer support and reliable trading platforms.

Further, the broker has also received several industry awards, including Best MT5 Broker Global, Best Trading Experience Asia, and Best Partnership Programme MENA. These recognitions highlight its commitment to delivering a high-quality trading experience.

Final Comments

Opening an account with Switch Markets and claiming the 100% Credit Bonus can provide a significant boost to available margin. This allows traders to increase position sizes and explore more diverse trading strategies. However, it is not free money and comes with strict rules.

Traders should pay close attention to key conditions such as the non-withdrawable nature of the bonus. Additionally, traders should be keen about conditions such as the 1:1 equity rule and the automatic reduction of the bonus when withdrawals are made.

Beyond the bonus, Switch Markets offers access to a variety of trading instruments and supports the widely used platforms MetaTrader 4 and MetaTrader 5. As always, trading CFDs and forex involves a high level of risk and may not be suitable for all investors. Make sure you understand how the bonus works and only trade with funds you can afford to lose.