If you are a beginner in Forex trading, there is no better way to go about it than trading with a live account with real money. But without any prior experience in live trading, you could easily make losses that could kill your hopes of making money in the Forex Market.
Starting your Forex journey with a no-deposit trading bonus account can make a lot of difference – you trade with real money while exploring the nature of Forex trading and markets.
In this article, we’ll share how you can use a no-deposit bonus to start Forex trading and forex brokers that offer a no-deposit trading bonus.
10 Forex Brokers with No-deposit Bonus
Not every broker offering a no deposit bonus is legit – in fact, many sites offering promotional offers are scams. Additionally, most top Forex brokers rarely offer no deposit trading bonus, and for the brokers that offer the bonus, it is usually small, ranging between $5 and $25.
Fortunately, we did the hard work for you, so you don’t have to spend weeks doing endless searches. Here is our list of 10 trusted brokers with no deposit bonus:
- Instaforex: One of the brokers with the highest bonus amount. They have no-deposit bonuses of up to $1000.
- SuperForex: Offers a no-deposit bonus of $88 on sign-up. You get a second bonus of $99 if you make a $10 deposit.
- Tickmill: Tickmill offers a low spread and a no-deposit bonus of $30.
- HotForex: Get up to a $30 bonus.
- Forexchief: $100 no-deposit bonus.
- Pomelofx: $100 no-deposit bonus.
- RoboForex: RoboForex is an award-winning broker offering a $30 no-deposit bonus.
- Axiory: $25 no-deposit bonus.
- JustForex: $30 no-deposit bonus.
- FXGiants: $45 no-deposit trading bonus.
Why It’s Smart To Use a No Deposit Trading Bonus
Forex trading is a high-risk endeavor. Markets are not only highly volatile but also unpredictable.
To earn decent profits with Forex, you need to fund your trading account substantially. $5 will hardly earn you solid money. But $30- $200 in your Forex account is an excellent place to start for a rookie. You can then get a feel of the trading platform and experience the dynamics of Forex trading and the FX market.
No-deposit Forex trading bonus
Being an unpredictable market, you can easily lose money in the Forex market. If you’re not experienced in Forex trading, starting low is advisable. It’s not wise to start with $1000 in your account when you don’t know what you’re doing. A skillful strategy is to start with a demo account – although a demo account doesn’t give you the same thrill as live trading, where you get to risk real money.
There is also another smart way you can experience live Forex trading at low risk and with the potential to earn sizable profits. The idea is to use a no-deposit trading bonus offered to new members on sign-up with some Forex brokers.
What Is a Forex Bonus?
A no deposit trading bonus is a reward or promotion offer extended to new customers by a broker to introduce users to the service/platform. What makes no deposit trading bonuses attractive is that new users don’t need to make any deposit to take advantage of the bonus.
On the one hand, the no-deposit bonus benefits the broker because the incentive attracts new users and encourages them to make a deposit. It also stirs a high trading activity. As for new traders, no deposit bonuses are intriguing because they give you a chance to start trading risk-free without investing real money. You can start Forex trading with literally no money or experience.
Additionally, if you have tried trading before and made losses – you can always start over by opening a trading account with a broker that offers no deposit bonus.
As we’ve pointed out, it makes sense to start small to get a chance to learn and experience the trading platform. As you gain more trading experience, you can add more money to your account. A no deposit trading bonus ranging from $30 to $100 is a logical amount to start Forex trading.
Still, it’s not uncommon to come across brokers offering no deposit trading bonus of $1000. However, you have to do your due diligence so you don’t get scammed – It’s hard enough to find a top broker offering a no deposit trading bonus, leave alone one offering $1K bonuses.
How to Get Started with Forex with A No Deposit Trading Bonus
Getting a no deposit trading bonus is relatively straightforward. The hard part is looking for a legit site that will not scam you. You can check the brokers we’ve listed below to apply for a no deposit bonus and start trading.
Here is how to get the no deposit bonus:
- Register for a live trading account with a particular Forex broker.
- Verify your account details – your identity and address.
- Select a base currency for your account – it can be in USD, EUR, GBP, or JPY.
- Apply for the bonus remuneration based on the currency you chose above. You will receive your amount within no time.
Terms of Use for No Deposit Bonus
Although brokers freely give no deposit bonuses to new signups, these promotion offers often come with several terms and conditions. It’s a safe practice to read and understand the terms of use associated with any no deposit bonus before you apply. Here is what to keep in mind when applying for no deposit bonuses:
- Only works with verified accounts: Only verified users with a live trading account can claim the no deposit bonus. You must pass the KYC requirements.
- Meet eligibility criteria: Only users who have satisfied the terms of use outlined can claim the bonus.Some common restrictions include age, country of residence, or region.
- Bonus amounts vary: The bonus amounts you can claim differ from broker to broker. The amount can also vary depending on season and campaign type.
- Applicable to one account: In most cases, the bonus incentive applies to only one account.
- Bonus cannot be withdrawn (at least not immediately): Another limitation is that you cannot withdraw the bonus amount. But once you make profits, some brokers allow users to withdraw profits along with available bonus amounts. However, you have to meet a minimum trading volume in most cases.
No Deposit Trading Bonus FAQ
Not every Forex broker running promotion offers is a scam, but there are a good number of scammers out there. Basically, brokers offer no deposit bonuses as a way to market themselves and persuade more traders to sign up on their site. This brings them business while offering an opportunity for less-experienced traders to get acquainted with Forex market dynamics.
Yes, the bonuses are real credits you can use in a live FX account. Although it’s free money, terms and conditions apply before you can receive your bonus and withdraw any profits made.
Always remember to read through the terms and conditions in detail. Understand the requirements needed before you can withdraw bonus funds. In addition, check countries that are eligible for the bonus and the requirements and verification procedures to follow.
A no deposit bonus is an incentive that provides you with real money to start trading. With this option, you’re not required to deposit to get the bonus. You simply need to create an account with the broker and verify it to get the bonus. In contrast, a deposit bonus is a promotional offer given to new and existing customers for making a deposit. It’s the most common type of Forex deposit bonus.