When foreign exchange traders register as new traders in the foreign exchange market, they will find that a minimum deposit is required to start executing trades in live market conditions.
Retail forex traders will find that some forex brokers will provide them with free funds that can be used to start trading. No-Deposit Bonuses are promotional offers that allow forex traders to start trading without paying a minimum upfront deposit.
Top 10 Forex Brokers
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A forex no-deposit bonus is a tradable bonus or bonus credit paid into the real forex live account. This helps forex brokers attract new customers, and while there are some terms and conditions associated with this type of bonus, it can give traders free cash that they would not ordinarily have.
To qualify for a forex no-deposit bonus, forex traders must register a live trading account with a forex broker who offers this initiative. Once the trading account has been verified, the forex trader will receive the trading credit in their trading account.
This can then be used to open/close positions in the live market, and the profits that traders make on this bonus can be withdrawn.
The advantages of a forex no-deposit bonus include.
- The largest benefit is that new traders are getting the chance to participate in financial markets before they risk real money.
- Novice traders can use the forex no-deposit bonus to practice trading across multiple financial markets, allowing them to gain experience before they risk real money.
- The profits traders make while they use the trading credit are typically withdrawable.
- Experienced traders and professional investors can use the forex no-deposit bonus to test their trading strategies in live market conditions.
Forex traders must ensure that they understand the risks involved with forex no-deposit bonuses before they decide to use them. Some considerations for using these bonuses include.
- Beware of brokers who offer such bonuses as their offer can sound too good to be true and turn out to be a scam, resulting in traders losing their investment.
- When brokers offer minimal forex no-deposit bonuses, the amount given could be too small to trade in live market conditions, which means that traders end up spending capital to be able to trade.
- Some brokers claim to offer a forex no-deposit bonus, but once traders register their real account, they are required to pay an initial deposit.
SuperForex
SuperForex is an international forex broker with clients from around the world that use its services. SuperForex is regulated and offers traders a choice between several dynamic retail investor accounts that can be used online.
SuperForex is based in Belize and is regulated by the International Financial Services Commission (IFSC). SuperForex was founded in 2013, and it is a global broker with a high trust score from more than 200,000 clients from more than 150 countries worldwide.
Superforex has a decent market share in the CFD trading and forex market, providing traders with a no-deposit bonus of $88, which is available to all customers on any live trading account that has been verified.
The process involved with getting the bonus is.
- Traders can register a standard trading account on the official SuperForex website. The only account currency that is eligible for the bonus is USD.
- Traders can verify their live trading account, including their name, address, phone number, and email address. Once proof of this is provided, it will take up to 48 hours for the account to be verified.
- Once the account has been verified, traders can choose the “Bonus Program” tab in their Client Cabinet and select “No Deposit Bonus”.
The procedure to claim and withdraw the bonus is simple, and traders will be allowed to withdraw the profit that they make while using the bonus. The amount that is free for withdrawal depends on the trading volume, where 1 lot is equal to $1.
RoboForex
RoboForex was founded in 2009, and it is one of the best market makers, STP, and ECN international forex brokers in the world. RoboForex is a trusted and multi-award-winning forex broker who facilitates forex and CFD trading across 9,400 instruments.
RoboForex offers new traders a welcome forex no-deposit bonus of $30 that they will receive when they register for a real account.
To qualify for the no-deposit bonus, traders must fulfill the following criteria.
- Register either a Cent or Standard Account on MetaTrader 4 or MetaTrader 5 and choose between USD or EUR as the base currency.
- Verify the trading account by providing proof of identity, residential address, and mobile number. This can be completed in the Member's Area.
FreshForex
FreshForex is an STP and ECN forex broker that offers a wide range of trading instruments across several financial markets. FreshForex offers comprehensive services to traders of all trading skills, offering an attractive forex no-deposit bonus.
FreshForex has been in operation since 2004, and it provides novice traders, and professional investors access to competitive spreads, ECN trading, fast trade execution, and a range of advanced trading tools.
The FreshForex forex no-deposit bonus can be claimed by completing the following steps.
- Register for a Classic, Market Pro, or ECN Account.
- Complete the client verification by providing proof of identity and residential address.
Once the account has been verified, traders can use the $3 to start practice trading or to test trading strategies.
XM
Established in 2009, XM Group is one of the world’s largest and most trustworthy international forex brokers. XM Group is well-regulated by several market regulators, offering over 2.5 million clients some of the most competitive trading conditions.
XM Group offers a choice in live trading accounts in addition to the competitive average spread, a decent execution policy, low commissions, and negative balance protection.
XM Group offers new traders who register a live trading account a $30 forex no-deposit bonus that can be used to start trading. The conditions involved to receive this bonus are as follows:
To receive the forex no-deposit, the new trader must verify their mobile number via SMS.
- Traders must register one live account with XM Group that will be the designated forex no-deposit bonus.
- While the bonus with XM Group cannot be withdrawn, profits that are made from the bonus can be withdrawn once the trading volume reaches 10 micro lots once five round turn trades have been carried out.
InstaForex
InstaForex is a trusted and reputed forex broker and one of the largest market makers in the industry. Instaforex is well-known for its transparency, range of tradable instruments, user-friendly trading platforms, and educational materials.
InstaForex offers an impressive $1,000 start-up or forex no-deposit bonus on all live trading accounts. There is no verification of the live trading account, no minimum deposit needed, and the funds are automatically credited to the trading account.
To get and withdraw this bonus, traders must note the following.
- When traders use the trading bonus, and they earn profits from the forex no-deposit bonus, they can withdraw the profits if all terms are fulfilled.
- The InstaForex no-deposit bonus is only designated for clients of the broker, and once the trader deposits funds, the bonus will be canceled.
FBS
FBS is a popular and trusted Belize-based forex broker that has been in operation since 2009. FBS is well-regulated and is globally recognized as a reputable broker with competitive trading conditions, tight variable spreads, low trading fees, and rapid execution of trades.
FBS offers new traders who register a trading account for the first time a no-deposit bonus of $140. In addition to this forex no-deposit bonus, traders will receive free educational materials that can guide them through starting to trade forex.
To receive the $140 forex no-deposit bonus and to withdraw funds, traders can sign up for a live trading account on the official FBS website. There are no restrictions or limits on the trading bonus other than traders being unable to withdraw the bonus amount.
However, traders can withdraw the profits that they make while trading with the no-deposit bonus.
Tickmill
Tickmill is a well-known international broker with offices in the United Kingdom, Cyprus, and Seychelles with corresponding authorization and regulations through reputable market regulators.
Tickmill is a trustworthy ECN and STP forex broker that has a large market share in the forex and CFD trading industry. Tickmill offers new traders a $30 no-deposit welcome account that is credited with free funds.
New clients who have never held a live account with Tickmill can use this account to practice trading or to test their trading strategies. Tickmill's conditions and limitations with regards to the bonus are as follows.
- Existing clients do not qualify for the no-deposit forex bonus.
- The welcome bonus is not available to traders who reside in Algeria, Armenia, Angola, Australia, Azerbaijan, Belarus, Brazil, Bulgaria, Columbia, Georgia, Hong Kong, Iceland, Israel, Kazakhstan, Lebanon, Liechtenstein, Macau, Moldova, Morocco, Mozambique, Norway, State of Palestine, Switzerland, Taiwan, Tunisia, Yemen, North Korea, Iran, USA, Indonesia, Venezuela, Lesotho, Pakistan, Bangladesh, Ghana, Egypt, Russia, San Marino, South Africa, Ukraine, Uzbekistan, Kyrgyzstan, Tajikistan, Turkmenistan and Kenya.
- Citizens of the European Union may not apply for the welcome account.
- When traders use the welcome account, they are not allowed to use trading robots.
- The trading conditions on the account are like those on the Pro Account.
- Traders may raise or lower the maximum leverage ratio on the account.
- The welcome account is only available for 60 days after it has been registered and approved.
- The only base currency that can be used is USD.
- When traders withdraw their profits, they can withdraw a minimum of $30 and a maximum of $100.
AM Broker
AM Broker is an STP, ECN, and Direct Market Access (DMA) forex broker that is based in Saint Vincent and the Grenadines. AM Broker is a trusted forex and CFD trading provider that offers trading instruments across several asset classes.
AM Broker offers traders a $30 no-deposit bonus when they register for a live account for the first time. The process involved with claiming the bonus is as follows.
- Traders can register a real account on the official website for AM Broker.
- Traders can verify their accounts in the personal area.
- Once the account has been verified, traders can go to the Promotions section and choose the option to “Get this Bonus”.
- The bonus amount of $30 will be transferred into the trading account of the trader, where it will be available for 14 days.
- The profit that the trader makes on this amount will be available for withdrawal once the trader has used at least 10% of their bonus during trading activities.
- To qualify, traders must hold each position for at least 5 minutes before they close their position.
- The minimum price change for every trade is 10 pips, and the minimum profit that traders can withdraw is $15, with a maximum of $200.
- The trading bonus can only be used while trading major currencies, minor currencies, or exotic pairs.
How to Find the Best Forex No-Deposit Bonus
To find the best no deposit bonus, forex brokers traders must conduct thorough and in-depth research.
The process involved with finding the best forex no-deposit bonus relates to.
- Reading reviews on the broker to determine their level of customer service and the quality thereof
- Evaluating their regulatory status and their trustworthy score
- Viewing the terms and conditions of the no-deposit forex bonus
- Weighing up the amount that they offer versus the cost of trading
- Reviewing the withdrawal limitations, restrictions, and terms and conditions
Things that traders must be aware of include.
- Brokers who offer guaranteed profits
- Brokers who charge a fee to release funds
- Brokers who offer unrealistic bonuses and promotions without terms and conditions
- Brokers who have ridiculous demands relating to terms and conditions
- Brokers who offer low minimal no-deposit forex bonuses that are not worth the effort
The best way to find reputable brokers who offer no-deposit bonuses along with several other promotions is to consult websites such as Forex Recommend. This will provide traders with a comprehensive overview of different forex brokers, their trading conditions, regulations, and overall reputation.
When traders want to register a live trading account, they must visit the official website of the broker. They will be required to complete an online application with their personal, financial, residential, and employment information.
Traders must then verify their account by providing proof of their identity and their physical address as part of KYC. Once the account has been verified, traders can fund their account or make use of the no-deposit bonus.
What are the Requirements for a Forex No-Deposit Bonus?
The requirements and forex broker policies for a no-deposit bonus are.
- Traders must fulfill the trading volume required to become eligible for the bonus, with bonus funds frozen until this is met.
- There may be time limits on the bonus and expiry dates.
- There may be restrictions on the financial instruments that can be traded, especially if the forex broker tries to increase liquidity on some currency pairs.
- There may be restrictions on some nationalities, especially in areas with strict forex trading regulations.
- Traders will be restricted from withdrawing the deposit until certain conditions are met.
What are the Limitations of Forex Bonuses?
The limitations for forex bonuses relate to the following.
- Withdrawal limitations imply that forex traders can only withdraw a certain percentage of their profits on the account where the bonus is active. Forex brokers will provide minimum and maximum withdrawal limits.
- Buy limitations imply that traders may be restricted from opening positions of certain sizes on certain instruments.
- Usage limitations refer to how the trader uses their forex no-deposit bonus and in which markets they can use it, the trading strategy that they may use, and the base currency in which they may transact.
How can you withdraw a No-Deposit Bonus?
To withdraw the profits from a no-deposit bonus, traders must consider the following.
- That the trader must fulfill the trading requirement to withdraw their profits.
- That there may be withdrawal limitations on how much they can withdraw.
Once traders have complied with the criteria as indicated by their forex broker, their forex broker will provide them with detailed instructions on how to withdraw their profits from the trading account.
What are the other types of Forex Bonuses that are like a No-Deposit Bonus?
Other types of forex bonuses include.
- A sign-up or welcome bonus is given to all new traders who register an account for the first time. This bonus is given to the trader after they have verified their real account and made their first initial deposit.
- Deposit bonuses are given to new and existing clients as a percentage or flat rate that will be added according to their initial deposit. These bonuses are credited to the account once the deposit of the trader has cleared in the trading account.
- Referral bonuses are given to traders who have referred friends and/or family. The bonus is given to the trader and their referral once the referral has registered a live account, deposited the minimum required amount, and fulfilled the trading volume requirements.
