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No deposit forex bonus is a starting point and a great way to bolster customers’ balances without having to fork out their own cash. Almost every top forex broker provides some form of an introductory offer to their new customers. The funds come as a promotional gift for eligible customers, so there is no money risk. While this type of bonus is incredibly catchy, there are strict trading and cash-out terms stated. Check out our latest no deposit bonus forex list, how to trade with bonus, terms and conditions, and more.
List of Forex Brokers With a No Deposit Bonus
CFD Service. Your capital is at risk
| Broker | Bonus | Conditions | Action |
|---|---|---|---|
| XM Broker | $30 | Valid until: December 31, 2022 Available for: new clients Broker’s Trustability:  |  or Read about bonus |
| FBS | $140 | Valid until: December 31, 2022 Available for: new clients Broker’s Trustability:  | or Read Review |
| InstaForex | $3,500 | Valid until: December 31, 2022 Available for: new clients Broker’s Trustability:  | or Read Review |
| TemplerFX | $30 | Valid until: December 31, 2022 Available for: new clients Broker’s Trustability:  | Get No Deposit Bonus |
| JustForex | $30 | Valid until: January 31, 2022 Available for: new clients Broker’s Trustability:  | Get No Deposit Bonus |
| SeventyBrokers | $35 | Valid until: March 31, 2022 Available for: new clients | Get No Deposit Bonus |
| AGEA | $5 | Valid until: December 31, 2022 Available for: new clients | Get No Deposit Bonus |
| MKD FX | €50 | Valid until: December 31, 2022 Available for: new clients | Get No Deposit Bonus |
| SFEX | $50 | Valid until: December 31, 2022 Available for: new clients | Get No Deposit Bonus |
| XSOCIO | $5 | Valid until: December 31, 2022 Available for: new clients Broker’s Trustability: | Get No Deposit Bonus |
| RoboForex | $30 | Valid until: December 31, 2022 Available for: new clients Broker’s Trustability: | Get No Deposit Bonus |
How to Trade with No Deposit Bonus
To get the bonus, you need to register a live account with the broker. Your balance is then credited with the amount based on your choice of the base currency. For example, you may open an account in USD, EUR, or JPY, depending on your location and the provider.
Once the bonus arrives, you can start trading in the real market right away, without investment. Note that your broker will need to verify your identity, and some limitations may apply. Check the conditions of the no deposit bonus first to make sure you are eligible. Remember that this type of bonus may only be received once.
As we have extensive information and acquaintance with the Forex industry for some people, a few queries still can be trendy. We all love making money! This is particularly when we can learn how to earn money without leaving home. If we do not have to capitalize on it in our money, it becomes more interesting.
This already sounds and seems fascinating, right? Well, certainly, in the current world, modern tech such as operations may be achieved. However, you still have to be well-versed with specific aspects that will further help you in knowing how to earn your money.
Forex is a globally recognized asset that offers the chance of trading, buying and selling, investing, and benefit to consumers. Forex trading may be complicated, and that is why you need to be conversant and have skills. Many are the benefits that come with this knowledge, such as the ability to start trading without money.
However, you need to attain some more understanding, not risking all of your money, and stay safe mostly. Best brokers usually give you reliable and cheap openings via which you will have the ability to earn your first multiple dollars.
Terms and Conditions of the Bonus
You need to read through the agreement that has been given to you. By this, we don’t mean reading the heading or the bulletins. The point we are driving home is reading through the agreement and understanding the overall idea of the topic. Have you followed the mentioned laws and regulations of the contract?
Pay close attention to the following aspects of the Forex no deposit bonus:
- The no deposit bonus forex is only provided to new clients who open live (real) accounts.
Like any other promotional deals, no deposit forex promotions come with specific conditions that should be satisfied before taking full advantage of these free credits. And the first thing is creating a live trading account. New users who create a demo account aren’t eligible to redeem these credits.
- Registration requires identity verification following KYC standards.
To get a forex no deposit bonus, you need to verify your identity. Identity verification includes filling out the registration form, uploading documents, etc. However, this depends on the brokerage firm of your choice.
- Restriction on the amount of profit you can cash out
The amount of profit you can withdraw is determined by the client’s trading volume in many instances. For example, if two lots are equivalent to $2, you need more than 200 lots to cash out $200. In most cases, the maximum amount you can cash out is fixed. And most customers don’t have enough time to satisfy the requirements. However, the precise timeline varies from broker to broker.
- The bonus is available once and upon registration.
Because this type of offer aims to encourage new customers to stay with a given forex company, each new member can apply and get the bonus, not more than once. The forex company you register with also matters. For example, some companies offer this bonus when you register through MetaTrader. Those who sign up using MT4 are unqualified in this case.
- The bonus is available to eligible clients who satisfy the criteria set out by the company.
The bonus is not eligible for redemption by anyone. New members have to meet the criteria set out by the provider. These include age and country, among others.
- The bonus is meant explicitly for trading. So, it cannot be withdrawn under any circumstance.
The bonus itself cannot be cashed out. It is cancelled immediately after you initiate a withdrawal request. A few brokerage firms allow you to withdraw the credits plus their associated profits.
- The clients must read, confirm, and acknowledge the terms and conditions of no deposit bonus forex brokers.
Some live accounts may not be qualified to receive any deposit bonus. The idea is to ensure you have read and understood the terms and conditions. Otherwise, you may have it cancelled due to violations.
- Also, the bonus size varies from provider to provider and mission to mission.
Various forex brokers offer no deposit bonuses differently. The bonus offer available to you is also subject to change depending on many factors.
The Steps to Follow When Getting a Bonus
Getting a no deposit bonus is now easier than ever before. Here are two strategies you can use to claim a no deposit bonus:
Option 1
- First, find a provider offering a no-deposit bonus. You can independently browse the internet or use our list above, which is updated regularly. An account with your trusted forex trader requires one to fill in the necessary information, including your name, address, and age, among others.
- Study, acknowledge, and confirm the terms and conditions. Remember, each website comes with its own terms and restrictions. That is why it is crucial to study the conditions of acquiring these welcoming bonuses in detail.
- Uploading documents for identity verification (if required), and
- Claiming the free bonus!
Option 2
- Search for a reputable forex company.
- Register your account with the right brokerage firm.
- Claim your free bonus.
- Upload your documents if necessary. These include proof of residence, and proof of identity, among others.
Many customers prefer the second strategy as it seems to be simple. But the majority of the brokerage firms use the first option. One of the main reasons most brokers prefer the first strategy is that it acts as a filter for determining serious traders.
Brokers use the second option just to attract prospective clients who don’t want the stress of the verification process until they have something to gain.
It is also worth mentioning that most no deposit bonus forex brokers don’t pay affiliate fees for any withdrawal.
Types of identity verification you need to know
There are four common types of verification that most brokers use before they accept new customers into their platform. The fast type is identity verification. Your trusted forex company will send you a verification code through a voice call or a text message. This is also called phone verification.
The second method is email verification. Your forex broker will send you an email link where you need to click it to verify your identity. The third method is the proof of identity. In this case, your brokerage firm will request you to upload documents for approval. This can be your ID, passport, or driving license. Lastly, the proof of residence. This can be any document containing your address, such as a bank statement or utility bills.
How to Choose the Best No Deposit Forex Bonus
Now you know why these risk-free bonuses are the most coveted rewards for Forex beginners. They are offered by a plethora of legit brokers, and the variety is overwhelming.
Regardless, there is always a requirement for obtaining such free promotions. Follow our tips to choose the most suitable no deposit bonus forex offer:
- Research
Before you decide on joining forex trading, you need to ensure whether the platform is legitimate. This is especially true if you are a beginner and you are less on forex ideas. The truth is there are many forex platforms out there, each claiming to offer no deposit bonus. But not all are trustworthy. Make sure you choose a provider with a license from one or more jurisdictions. Check our forex no deposit bonus ratings to find a trusted company in your region.
- Read reviews
It is always a good idea to read reviews from experts and forex review websites like this before you register with a forex broker. This will provide you with the relevant information that is crucial in deciding on a reliable firm. Reading expert reviews will also help you understand the pros and cons of a broker that offers no deposit bonus forex. If the brokerage firm is limiting customers from making transactions freely, that platform might not be suitable for you.
- Payment options
Choose a brokerage firm that offers the most reliable and flexible payment methods. Also, ensure the broker you choose allows cashing out of the profit gained from the no deposit bonus forex. Many companies restrict the withdrawal of the profits accrued.
- The size of the bonus offered
The size of the bonus varies from firm to firm. Usually, they range from $5-$100. Choosing a brokerage company with an attractive offer provides you with an exciting opportunity to maximize any profit made.
- Understand the terms and conditions
The amount is crucial, but you should also consider the reputation of the no deposit bonus forex broker, trading conditions, and the quality of services overall. Some of the general terms and conditions you need to be aware of include bonus validity, trading limitations, and many more.
- Customer care support
Customer care services also matter. Forex trading happens 24/7, so the no deposit forex broker you choose should have customer support available at any time. Pick a provider that you can easily reach out to in case of any problem.
- The company’s background
Lastly, it must be a licensed broker. A suitable forex broker should comply with the rules and regulations and be registered by the relevant authority. Ensure you do thorough homework on the site. Include various keywords such as forex fraud, scam, etc., to ensure all reviews are negative. Just because a brokerage firm appears professional, it doesn’t mean it is regulated properly.
- Find out as much as possible about the no deposit bonus forex broker before signing up.
The Pros and Cons of No Deposit Bonus
Below are some of the significant advantages we have noted with regard to your no deposit bonus, together with some areas to be attentive to when trading.
Pros
- This bonus lets you trade utterly risk-free but still get value through real money in trading.
- The biggest benefit a dealer will receive is the fact that you are receiving the chance to dynamically participate in the financial markets without investing your own money.
- It helps uphold the trading balance with modest funds.
- You get the chance to practice trading in numerous financial markets, examples comprising forex, commodities, and even cryptocurrencies.
- These deposit bonuses can be used to recoup the cash deposits which you lose while trading.
- Profits made during your trading period are yours to keep in totality.
- This bonus aids one to adapt to the live trading environment and handle the no deposit forex bonuses effectively.
- They offer traders an option to hedge their investments in bigger trades.
- Some brokers would not need you to authenticate your account entirely to get access to the bonus.
Cons
- The majority of forex brokers set impractical standards with rigid terms and conditions.
- Obtaining such an easy bonus offer is likely to entice newbie traders.
- Most bonuses limit the withdrawals equally for profits and free bonuses.
- As a trader, you are greatly constrained to rules and regulations, which you are bound to keep an eye on as well as the terms and conditions.
- It has a lifeline. After a specific duration, defined by the broker, it will expire and be nonexistent.
- The criterion that is obligatory to be met in order to withdraw the bonus is regularly hard to attain.
- This free money commonly results in higher anticipations and in excess trading of deposit bonuses.
What If I Find That Even This Offer With No Deposit Deal Is Too Risky For Me?
There is always an alternative. You can use a demo account to practice trading without real money and develop your skills safely. It will unlock your trading platform in the simulator mode, so the interface will mimic live market conditions. All reputable Forex brokers provide opportunities for risk-free trading free of charge. You can switch to a real account at any time. Some demo accounts are unlimited; others come with a virtual deposit from the broker.
FAQ
Yes, you can make money with free forex no deposit bonus. You can begin forex trading without depositing any amount and earn more profit than you can imagine. In fact, there are so many ways forex no deposit bonus can help. For instance, it can help one to embrace the learning curve. In this case, you can avoid risking your hard-earned cash when experimenting with the forex trading strategies.Â
However, the withdrawal conditions vary from broker to broker. Typically, traders can collect their profit if they meet the lot/volume requirements. These limitations are found in the company’s T&C.
This free trading bonus is the amount of tradable money provided by Forex brokers. It lets their new clients open trades in the real market without topping up their accounts. With a free bonus, you can live trade and connect to the real market in real-time.
Yes, as no deposit forex bonuses are offered to new clients, they may be regarded as welcome bonuses. These rewards are only accessible to new traders, and they may only be used once. The most important part of this bonus is that it is risk-free. So, you can start your live trading without using your own cash. However, they should not be confused with welcome bonuses that require a deposit.
The short answer is yes. Everyone is accrued to withdraw the winnings any time from a no deposit bonus forex account. But this doesn’t necessarily work with the bonus. Bonus withdrawal depends on your service provider. Some forex brokerages offer no deposit bonus withdrawal and others cannot.
No. Don’t fall attempting to abuse any deposit bonus forex. This is a promotion/gift given to clients at goodwill. As a result, they are closely monitored by the company. So, with any sign of abuse, the provider might ban your account as soon as possible.
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My friend has been trading forex for years, and he says only scammers say you can trade without a deposit. Why would a trusted broker offer free money? You can still use their demo accounts for free. Such ads look fishy to me.
Today, competition between brokers is fierce, as there are so many companies in this market. No deposit bonuses are just a new way of marketing. This is not charity, it is a way to encourage new visitors to register. Every broker sets their own conditions for withdrawal. If a company is officially licensed and has a positive rating, there is no reason to worry.