A Forex no-deposit bonus stands as an initial, cost-free deposit granted by your Forex broker. This enables you to commence trading without putting your personal funds at risk
Here is a comprehensive list and Trade guide of the top licensed Forex Brokers offering a Welcome No Deposit Bonus.
In this in-depth guide you’ll learn:
- Definition of forex no deposit bonus?
- What does a No Deposit Bonus entail?
- Who qualifies for a No Deposit Bonus?
- Why do brokers offer a No Deposit Bonus?
- What happens to profits made trading with a No Deposit Bonus?
- List of the best forex no deposit welcome bonus brokers.
- Can traders select Forex No Deposit Bonus broker without verification?
- Can I withdraw the Forex No Deposit Bonus without profit?
- Details on brokers that offer Withdrawable No-deposit bonus
- Trading with a No Deposit Bonus
- Latest Restrictions on Forex Trading with a No Deposit Bonus
- Best $30,$50, and $100 $500 welcome bonuses.
- How to claim your Forex no deposit bonus.
And lots more…
Let’s dive right in…
8 Best Forex No Deposit Bonuses (2024)
𝗕𝗿𝗼𝗸𝗲𝗿 𝗡𝗮𝗺𝗲 | 𝗠𝗶𝗻𝗶𝗺𝘂𝗺 𝗗𝗲𝗽𝗼𝘀𝗶𝘁 | 𝗖𝗹𝗮𝗶𝗺 𝗕𝗼𝗻𝘂𝘀 𝗛𝗲𝗿𝗲 | 𝗪𝗲𝗹𝗰𝗼𝗺𝗲 𝗕𝗼𝗻𝘂𝘀 𝗔𝗺𝗼𝘂𝗻𝘁 |
🥇JustForex / JustMarkets | $10 USD | 👉Click Here | 𝟭𝟬𝟬% 𝗦𝗶𝗴𝗻 𝗨𝗽 𝗕𝗼𝗻𝘂𝘀 – 𝗪𝗢𝗪! |
📢 Tickmill | $100 USD | 👉Click Here | 10% Deposit Reward |
🥉FBS | $1 USD | 👉Click Here | $100 Bonus |
📢 XM | $5 USD | 👉Click Here | $30 Bonus |
📢 RoboForex | $10 USD | 👉Click Here | $30 Bonus |
📢 Markets.com | $100 USD | 👉Click Here | Up to 35% Bonus Deposit |
📢 CM Trading | $100 USD | 👉Click Here | Africa’s Favorite Broker |
📢 ForexTime | $10 USD | 👉Click Here | $10 Bonus |
Definition of Forex No Deposit Bonus
A Forex No Deposit Bonus is “free money” that brokers offer new traders to encourage them to start trading forex on a live account. It’s given solely to new traders as a ‘welcome bonus’.
A free No Deposit Bonus is regarded as powerful leverage available to new traders and allows them to start trading forex almost instantly without an initial investment. It does come with rules and restrictions and new traders qualify for the trading bonus based on certain criteria.
8 Best Forex No Deposit Bonus Brokers (2024)
- ✅ JustForex / JustMarkets – Overall, leading No Deposit Bonus broker
- ✅ Tickmill – Provides a No Deposit Bonus as well as a $30 Deposit Bonus for initial deposits.
- ✅ FBS – Has received over 70 international awards.
- XM – Offers bonus up to $5000 on Live accounts
- RoboForex – Hosts a partnership program with up to 70% profit-sharing
- Markets.com – Up to 20% deposit bonus on 1st time deposits
- CM Trading – World class 24/7 online support
- ForexTime – Spreads as low as zero
10 Best Forex Brokers for 2024
Rank
Broker
Review
Regulators
Min Deposit
Official Site
JustForex /JustMarkets
The relaunched JustMarkets, formerly known as JustForex, establishes itself as a reputable brokerage, renowned for its dedication to transparency and trader-centric services. A unique offering of 0% deposit and withdrawal fees is one way that JustMarkets distinguishes itself, guaranteeing that traders can effectively manage their assets and settling them in as a No Deposit Bonus Forex Broker
Min Deposit
USD 1
Regulators
FSA, CySec, FSCA, FSC
Trading Desk
MT4, MT5, MT4/5 WebTrader, mobile (iOS & Android)
Crypto
Yes
Total Pairs
240+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
The broker optimizes the trading experience for its clients by providing competitive low spreads with an emphasis on cost-effectiveness. With a large sign-up bonus of $30 / ZAR R460,
JustMarkets Overview
𝗕𝗿𝗼𝗸𝗲𝗿 | 𝗝𝘂𝘀𝘁𝗙𝗼𝗿𝗲𝘅 / 𝗝𝘂𝘀𝘁𝗠𝗮𝗿𝗸𝗲𝘁𝘀 |
---|---|
📜 Headquartered | Providence, Mahe, Seychelles |
📅 Year Founded | 2012 |
🚀 Regulating Authorities | FSA / CySec / FSCA / FSC |
🎁 Sign Up Bonus | $30 Welcome Bonus 120% Deposit Bonus |
🥇 Demo Account | Yes |
📈 Maximum Leverage | 1:3000 |
💰 Minimum Deposit | $0 |
☪️ Islamic account (swap-free) | Yes |
🚀 Open an Account | 👉Click Here |
JustMarkets Pros & Cons
✅ Pros | ❎Cons |
---|---|
Allows risk-free initial trading | High trading volume requirements or withdrawal restrictions. |
Beginners can practice real trading without using their own funds. | Restrictions on available trading instruments. |
Traders can test the trading platform's features without committing money. | May lead to unrealistic trading habits due to no risk. |
Profits can be withdrawn after meeting bonus conditions. | Risk of encountering unregulated or fraudulent brokers |
Successful trading with bonus can increase trader's confidence. | Brokers might push for high trades, not considering trader's best interests. |
Tickmill
Tickmill, established in 2014, has transformed from a basic MetaTrader platform provider to a diversified multi-asset broker, now offering an expanding range of platforms.
Min Deposit
USD 100
Regulators
CySEC, FCA, FSA, FSCA, Labuan FSA
Trading Desk
MT4, MT5
Crypto
Yes
Total Pairs
62
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
This expansion is coupled with highly competitive spreads available on its VIP and Pro accounts, both of which operate on a commission-based structure and a No-deposit bonus structure.
Tickmill Overview
𝗕𝗿𝗼𝗸𝗲𝗿 | 𝗧𝗶𝗰𝗸𝗺𝗶𝗹𝗹 |
---|---|
📜 Headquartered | Providence, Mahe, Seychelles |
📅 Year Founded | 2014 |
🚀 Regulating Authorities | CySEC, FCA, FSA, FSCA, Labuan FSA |
🎁 Sign Up Bonus | $30 Welcome Bonus |
🥇 Demo Account | Yes |
📈 Maximum Leverage | 1:500 |
💰 Minimum Deposit | $0 |
☪️ Islamic account (swap-free) | Yes |
🚀 Open an Account | 👉Click Here |
Tickmill Pros and Cons
✅ Pros | ❎Cons |
---|---|
Allows risk-free initial trading | High trading volume requirements or withdrawal restrictions. |
Tickmill is a solid choice of platform for professional trading. | Restrictions on available trading instruments. |
Offers 'n No Deposit Bonus | Tickmill still only offers a limited range of tradeable assets compared to the best forex brokers. |
Well regulated | Provide Limited platform options |
FBS
Established in 2009, FBS emerged as an international brokerage firm with headquarters in Belize and Cyprus. Over time, its global presence has extended to more than 190 countries, operating under the regulation of both CySEC and IFSC.
By obtaining Cypriot regulation, FBS broadened its reach to European traders, resulting in an impressive count of 16,649,156 active traders to date.
FBS caters effectively to both new and experienced traders, offering a range of valuable trading platforms such as MT4, MT5, and the proprietary FBS trader.
FBS Overview
𝗕𝗿𝗼𝗸𝗲𝗿 | 𝗙𝗕𝗦 |
---|---|
📜 Headquartered | Belize |
📅 Year Founded | 2009 |
🚀 Regulating Authorities | IFSC, CySEC, ASIC, FSCA |
🎁 Sign Up Bonus | 100% Deposit Bonus |
🥇 Demo Account | Yes |
📈 Maximum Leverage | 1:3000 |
💰 Minimum Deposit | $1 |
☪️ Islamic account (swap-free) | Yes |
🚀 Open an Account | 👉Click Here |
FBS Pros and Cons
✅ Pros | ❎Cons |
---|---|
Offers a range of account types | High trading volume requirements or withdrawal restrictions. |
Leverage up to 1:3000 | No service to clients from USA, UK, Japan, Israel, Canada |
Allows risk-free initial trading | |
Well regulated |
XM
XM, established in 2009, provides a user-friendly trading experience through popular platforms like MetaTrader 4 and MetaTrader 5. With a diverse selection of account types, including Micro, Standard, and XM Zero accounts, traders of all levels can find a suitable option.
As a regulated broker, that offers leverage up to 1000:1, XM prioritizes the security of funds and ensures a seamless trading environment.
XM Overview
𝗕𝗿𝗼𝗸𝗲𝗿 | 𝗫𝗠 |
---|---|
📜 Headquartered | UK |
📅 Year Founded | 2009 |
🚀 Regulating Authorities | FCA, IFSC, CySec, ASIC |
🎁 Sign Up Bonus | $30 Trading Bonus 50% Deposit Bonus up to $500 20% Deposit Bonus up to $4500 |
🥇 Demo Account | Yes |
📈 Maximum Leverage | 1:1000 |
💰 Minimum Deposit | $5 |
☪️ Islamic account (swap-free) | Yes |
🚀 Open an Account | 👉Click Here |
XM Pros and Cons
✅ Pros | ❎Cons |
---|---|
Allows risk-free initial trading | High trading volume requirements or withdrawal restrictions. |
Beginners can practice real trading without using their own funds. | Restrictions on available trading instruments. |
Licensed and Regulated (ASIC, Cyprus Securities and Exchange Commission & IFSC)No banking license | May lead to unrealistic trading habits due to no risk. |
55+ Currency pairs to trade with | No banking licence |
RoboForex
RoboForex, which was founded in 2009, is a global retail brokerage that offers a wide range of assets.
It offers customers a variety of trading platforms to choose from and the chance to interact with over 12,000 trade products across 7 asset categories.
Min Deposit
USD 10
Regulators
FSC
Trading Desk
MT4, MT5
Crypto
Yes
Total Pairs
32
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
RoboForex offers access to CFDs for equities, indices, commodities, metals, and energy resources as well as forex trading for 40 different currency pairs.
Additionally, RoboForex expands the scope of its offerings to cover ETFs, a flexible trading tool that enables the combination of many assets into a single tradeable entity.
RoboForex Overview
𝗕𝗿𝗼𝗸𝗲𝗿 | 𝗥𝗼𝗯𝗼𝗙𝗼𝗿𝗲𝘅 |
---|---|
📜 Headquartered | Belize |
📅 Year Founded | 2009 |
🚀 Regulating Authorities | IFSC |
🎁 Sign Up Bonus | $30 Welcome Bonus |
🥇 Demo Account | Yes |
📈 Maximum Leverage | 1:2000 |
💰 Minimum Deposit | $10 |
☪️ Islamic account (swap-free) | Yes |
🚀 Open an Account | 👉Click Here |
RoboForex Pros and Cons
✅ Pros | ❎Cons |
---|---|
Allows risk-free initial trading | High trading volume requirements or withdrawal restrictions. |
Beginners can practice real trading without using their own funds. | Restrictions on available trading instruments. |
Tight spreads from 0 pips | Don't accept clients from US, Canada, Australia or Japan |
Fast order execution | |
5 different account currencies (EUR, USD, CNY, RUB, GOLD) |
10 Best Forex Brokers for 2024
Rank
Broker
Review
Regulators
Min Deposit
Official Site
Markets.com
Markets.com is a global CFD and FX broker that is licensed by a number of authorities, including the UK’s FCA, Australia’s ASIC, Cyprus’s CySEC, and South Africa’s FSCA.
Min Deposit
USD 100
Regulators
FSC, FSCA
Trading Desk
MT4, MT5
Crypto
Yes
Total Pairs
57
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
The deposit and withdrawal processes on Markets.com are quick and cost-free, and you can use a variety of methods, such as credit/debit cards and electronic wallets.
Additionally, opening an account is simple and quick.
Markets.com Overview
𝗕𝗿𝗼𝗸𝗲𝗿 | 𝗠𝗮𝗿𝗸𝗲𝘁𝘀.𝗰𝗼𝗺 |
---|---|
📜 Headquartered | British Virgin Islands, Cyprus, United Kingdom, Australia |
📅 Year Founded | 2008 |
🚀 Regulating Authorities | FSCA, ,FCA, ASIC, CySEC, FSC |
🎁 Sign Up Bonus | $20 Welcome Bonus |
🥇 Demo Account | Yes |
📈 Maximum Leverage | 1:300 |
💰 Minimum Deposit | $100 |
☪️ Islamic account (swap-free) | Yes |
🚀 Open an Account | 👉Click Here |
Markets.com Pros and Cons
✅ Pros | ❎Cons |
---|---|
Allows risk-free initial trading | High trading volume requirements or withdrawal restrictions. |
Great tools for learning and research | Hosts High forex fees |
Free and fast deposit and withdrawal | Inactivity fee |
No withdrawal fee | No clear fee report available |
Beginners can practice real trading without using their own funds. |
CM Trading
CM Trading, which was founded in 2012 and offers a wide variety of trading solutions, has become a well-known online trading platform.
Min Deposit
USD 100
Regulators
FSA
Trading Desk
MT4
Crypto
Yes
Total Pairs
51+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
It offers traders a safe and open environment in which to trade in a variety of financial markets, including FX, commodities, indices, and stocks.
CM Trading has a reputation for dependability and remains a trustworthy partner for traders of all experience levels because to its dedication to first-rate customer service and education.
CM Trading Overview
𝗕𝗿𝗼𝗸𝗲𝗿 | 𝗖𝗠 𝗧𝗿𝗮𝗱𝗶𝗻𝗴 |
---|---|
📜 Headquartered | Johannesburg, South Africa |
📅 Year Founded | 2011 |
🚀 Regulating Authorities | FSCA, FSA |
🎁 Sign Up Bonus | $20 Welcome Bonus |
🥇 Demo Account | Yes |
📈 Maximum Leverage | 1:200 |
💰 Minimum Deposit | $100 |
☪️ Islamic account (swap-free) | Yes |
🚀 Open an Account | 👉Click Here |
CM Trading Pros and Cons
✅ Pros | ❎Cons |
---|---|
Regulated by FSCA and FSA | Fixed spread of 1.5 pips. |
Has fast Withdrawal system. | Inactivity and other fees charged |
Their customer support is very good and available 24/5 from Monday to Friday. | No Customer Support during weekend. |
Lots of bonus for clients. |
ForexTime / FXTM
ForexTime, also known as FXTM was established in 2011.
A top-notch commission-based Forex pricing environment is also provided by Forextime.
Min Deposit
USD 10
Regulators
FCA, CySEC
Trading Desk
MT4, MT5
Crypto
No
Total Pairs
63+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Since Forextime joined the network of brokers catering to millennial and Generation Z traders who prefer no commissions, quality CFD trading is now commission-free.
ForexTime / FXTM Overview
𝗕𝗿𝗼𝗸𝗲𝗿 | 𝗙𝗼𝗿𝗲𝘅𝗧𝗶𝗺𝗲 / 𝗙𝗫𝗧𝗠 |
---|---|
📜 Headquartered | Cyprus |
📅 Year Founded | 2011 |
🚀 Regulating Authorities | CMA, CySEC, FCA, FSC Mauritius, FSCA |
🎁 Sign Up Bonus | $30 Welcome Bonus |
🥇 Demo Account | Yes |
📈 Maximum Leverage | 1:2000 |
💰 Minimum Deposit | $10 |
☪️ Islamic account (swap-free) | Yes |
🚀 Open an Account | 👉Click Here |
ForexTime / FXTM Pros and Cons
✅ Pros | ❎Cons |
---|---|
Excellent environment for commission-based forex pricing and transparency | There are no cryptocurrencies and few options for commodities. |
MT4/MT5 trading platforms plus mobile trading app | |
Copy trading platform with low minimum deposit, and high leverage offered | |
Demo option for practice trading available |
Brokers that offer Withdrawable No-deposit bonus
🚀 Broker | 📌 Withdrawable No-Deposit Bonus Details |
---|---|
FBS | Previous offers included withdrawable no-deposit bonuses |
XM | XM has offered withdrawable no-deposit bonuses in the past. |
Tickmill | Regularly offers promotions that include withdrawable no-deposit bonuses. Terms may vary. |
RoboForex | RoboForex has provided withdrawable no-deposit bonuses as part of their bonus programs. |
Grand Capital | Past promotions from Grand Capital included withdrawable no-deposit bonuses. |
InstaForex | InstaForex has historically offered no-deposit bonuses that traders could withdraw after fulfilling certain conditions. |
SuperForex | SuperForex has been known to offer withdrawable no-deposit bonuses in the past. |
Trading with a No Deposit Bonus
Once the deposit is in your account, you can start trading live and in real-time on the forex market.
Continuing on from trading through a demo account, a new trader can experience real live trading without risk until the bonus period ends.
Mistakes made don’t cost the new trader money out of his or her pocket but it is a loss to the broker.
Best $30, $50, and $100 $500 Welcome Bonuses
🚀 𝗕𝗿𝗼𝗸𝗲𝗿 | 📌 $𝟯𝟬 𝗪𝗲𝗹𝗰𝗼𝗺𝗲 𝗕𝗼𝗻𝘂𝘀𝗲𝘀: |
---|---|
Tickmill: | Tickmill has offered $30 no-deposit bonuses to new clients, allowing them to trade without an initial deposit. |
XM | XM has provided $30 no-deposit bonuses to traders as part of their promotions. |
📌 $𝟱𝟬 𝗪𝗲𝗹𝗰𝗼𝗺𝗲 𝗕𝗼𝗻𝘂𝘀𝗲𝘀: |
|
FBS: | FBS has offered $50 welcome bonuses that allow traders to start trading without making an initial deposit. |
📌 $𝟭𝟬𝟬 𝗪𝗲𝗹𝗰𝗼𝗺𝗲 𝗕𝗼𝗻𝘂𝘀𝗲𝘀: | |
InstaForex | InstaForex has historically provided $100 no-deposit bonuses to new traders, enabling them to experience live trading. |
📌 $𝟱𝟬𝟬 𝗪𝗲𝗹𝗰𝗼𝗺𝗲 𝗕𝗼𝗻𝘂𝘀𝗲𝘀: | |
Grand Capital: | Grand Capital has offered $500 no-deposit bonuses to new clients, giving them the opportunity to start trading without risking their own funds. |
Restrictions on forex trading with a No Deposit Bonus
Having given you ‘free money’, the brokers are entitled to apply certain restrictions on trading with a live account. They are no onerous restrictions and are designed as much to protect you as themselves.
1️⃣ Maximum lot size
Brokers offering No Deposit Bonuses to first-time traders restrict their clients from opening orders with a large lot size. Typically, the maximum limit for a lot size is 0.01 lot.
The downside of a limit on the size of a lot is it makes it harder to make a profit.
2️⃣ Maximum active positions
Certain brokers who offer No Deposit Bonuses set a limit on the number of active positions that a new trader is allowed to open. This may include pending orders.
This limit does affect a trader’s trading strategy and can somewhat spoil the trading experience when a new trader cannot open more positions, particularly if he or she is using the trend-following method.
3️⃣ Limit on assets traded
Certain brokers who offer No Deposit Bonuses specify which trading currencies may be traded, particularly in a volatile market situation.
Typically, new traders are restricted to the mainstream trading pairs and can’t trade on exotic pairs.
4️⃣ Time limit on No Deposit Bonus
A No Deposit Bonus usually has a time limit and will expire after a certain period of time.
It’s important to find out what this time limit is because you need to get in as much trading time as possible with the ‘free money’ before you need to commit your own money.
Typically, the time limit on a No Deposit Bonus is between 30 to 60 days.
5️⃣ Hedging is not allowed
As a general rule, hedging is not allowed when trading on an account with a Deposit Bonus.
Hedging involves having two trades open at the same time but in different directions.
Hedging is used in certain trading strategies and generally provides short-term relief for forex traders.
Hedging helps to temporarily eliminate or minimize risk in the forex market.
6️⃣ Scalping is not allowed
As a general rule, scalping is not allowed when trading on an account with a No Deposit Bonus.
Scalping is a popular trading strategy that allows traders to potentially earn small amounts of profit many times a day. The profit is usually between 5 to 10 pips.
7️⃣ Leverage is limited
Leverage is usually limited to a real live account with a No Deposit Bonus.
Leverage is where a small amount of money is borrowed from the broker to trade a larger forex position. Leverage is key to trading forex.
When leverage is limited, it means a new trader cannot open a large position.
8️⃣ Expert Advisors are not allowed
Expert Advisors (EAs) may not be used on a real live account that’s been set up with a No Deposit Bonus.
EAs can be likened to robot trading, where forex trading is automated.
EAs are very useful for beginner forex traders because they simplify the trading process, which includes opening and closing a trade and analyzing forex market conditions using indicators.
How to claim your Forex No-Deposit Bonus
𝗦𝘁𝗲𝗽𝘀 | 𝗙𝗼𝗿𝗲𝘅 𝗡𝗼 𝗗𝗲𝗽𝗼𝘀𝗶𝘁 𝗕𝗼𝗻𝘂𝘀 |
---|---|
𝗦𝘁𝗲𝗽 𝟭: | Decide which broker you would like to sign up with |
𝗦𝘁𝗲𝗽 𝟮: | Open a live trading account with the broker by completing the registration forms |
𝗦𝘁𝗲𝗽 𝟯: | Go through the verification process and provide the requested identification documentation |
𝗦𝘁𝗲𝗽 𝟰: | Once your account is activated and minimum deposit is paid, your account will be credited with the applicable welcome bonus amount and you can start trading risk free. |
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Forex Brokers who also offer a No Deposit Bonus
💻 𝗕𝗿𝗼𝗸𝗲𝗿 | 🚀 𝗢𝗽𝗲𝗻 𝗮𝗻 𝗮𝗰𝗰𝗼𝘂𝗻𝘁 | 📌 𝗡𝗼 𝗗𝗲𝗽𝗼𝘀𝗶𝘁 𝗕𝗼𝗻𝘂𝘀 |
---|---|---|
AvaTrade | 👉Click Here | Get a free $50 bonus without making a deposit |
Exness | 👉Click Here | Offer a no deposit bonus in 2020 |
FXCM | 👉Click Here | Get a free $50 bonus without making a deposit |
FXPRO | 👉Click Here | Offer a no deposit bonus in 2020 |
FXTM | 👉Click Here | Get a free $10 (1000¢) bonus without making a deposit |
HFM/HotForex | 👉 Click Here | Get a free $30 bonus without making a deposit |
IC Markets | 👉Click Here | Offer a no deposit bonus in 2020 |
Plus500 | 👉Click Here | Get a $50 (approx R850) bonus with an R 4 000 minimum deposit |
Tickmill | 👉Click Here | Get a free $50 bonus without making a deposit |
XM Trading | 👉Click Here | Get a free $30 bonus without making a deposit |
Disclaimer
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. Forex trading involves a high degree of leverage which increases the risk associated with forex trading.
Conclusion
In conclusion, JustForex / JustMarkets, Tickmill, FBS, XM, RoboForex, Markets.com, CM Trading, and ForexTime are some of the best Forex No Deposit Bonus brokers. No deposit bonus gives new traders the freedom to practice and zone in on trading skills and to develop a good understanding before trading with their own funds in a live trading account.
Frequently Asked Questions
What is a Forex no-deposit bonus?
Forex No Deposit Bonus is common practice in South Africa, Malaysia, and Indonesia but isn’t available to residents in the Eurozone and the United States. It incentivizes new traders to switch over to a real Forex live account from a demo account without massive financial risk. This type of forex trading promotion is available to new traders who meet certain requirements to open a real forex account and the free money can only be used under certain trading conditions, as specified by the broker. Forex traders cannot withdraw the free bonus money that’s put into their account by the broker.
What does a No Deposit Bonus entail?
The Forex No Deposit Bonus trading means a new trader does not need to make a deposit to activate a real live account and in effect, gets ‘free money’ to begin trading. The bonus amount is usually small, ranging from $10 to $50.
What happens to profits made trading with a No Deposit Bonus?
You as trader pocket any profit made. Further proof that brokers are committed to supporting new traders on their forex trading journey as they switch from a demo account to a live account.You are welcome to withdraw the profit you make but the idea is to reinvest it back into your account and continue trading. As a note of warning, some new forex traders find it difficult to withdraw profits from an account set up with a No Deposit Bonus. You may be asked to deposit a certain amount of money into the account before you can withdraw profits. The reason for this is simple; brokers want to encourage you to continue trading, not to give up and cash out.
Why do brokers offer a No Deposit Bonus?
A No Deposit Bonus is also known as a ‘welcome bonus’ and is a popular method used by brokers to attract beginner traders and encourage them to trade multiple financial instruments using a real live account.
Who qualifies for a No Deposit Bonus?
The No Deposit Bonus is only offered to first-time forex traders who sign up and register an account with a broker who offers the promotion. If you’ve been given a No Deposit Bonus before by a broker, you are not entitled to it again.
Can traders select Forex No Deposit Bonus broker without verification?
All brokers that provide a No Deposit Bonus in South Africa is governed by law to do the complete FICA verification of every trader before an account can be opened.
Can I withdraw the Forex No Deposit Bonus without profit?
In most cases, the Forex No Deposit Bonus cannot be withdrawn without making a certain amount of profit. Brokers often require traders to meet specific trading volume requirements or achieve a certain level of profit before the bonus funds can be withdrawn.