Forex no deposit bonus south africa

It is best to read the terms of the bonus before signing up, so that you don’t get surprises later.

Top forex bonus list

Best No Deposit Bonus Forex Brokers 2020, forex no deposit bonus south africa.

Tickmill is a FSCA regulated forex broker, and also regulated by multiple top tier regulators including FCA. So they are considered safe.

Best no deposit bonus forex brokers 2020

We've listed the top no deposit bonus forex brokers that offer bonuses ranging from $10 to $100.

In forex trading, an initial capital is required to open a live account. This capital is used to place orders in the market.

No deposit bonus by a forex broker is a service extended in form of free capital that the trader gets in his/her real trading account while starting to trade with the broker. This free capital is the bonus given by the forex broker, so you can start trading without risk of investing your money.

These “no deposit bonus” programs are mostly offered by brokers to attract new customers. But, as these “no deposit bonuses” are provided free of charge, there are certain guidelines, withdrawal restrictions etc. That depend from broker to broker.

Although there are quite many bonus programs out there, but we have only listed the no deposit bonus by forex brokers that are popular & well regulated globally.

Best no deposit bonus forex brokers in south africa for 2020

XM – $30 no deposit forex bonus

Fxopen – $10 forex bonus

FBS – $100 no deposit bonus

Tickmill – $30 no deposit bonus

Hotforex – 100% first deposit bonus (on $250+ deposit)

Best no deposit bonus forex brokers compared

We have compared the bonus conditions & terms for all the forex brokers that offer no deposit bonus to south african traders.

1. XM no deposit bonus – $30

Overall rating 9.0/10

Benchmark EUR/USD spread: on average 1.5 pips.

Welcome bonus: $30 (profits can be withdrawn)

Regulation: ASIC

Ranked #1 no deposit bonus forex broker

XM broker gives a $30 “no deposit bonus” to new traders only if you sign up for it via their special page. XM is a reputed broker so they are considered safe.

Getting XM broker’s $30 no deposit bonus is a straightforward process and the amount is credited to the trading account after registration and account verification. This bonus can be used straightaway to start trading with access to the MT4 and MT5 platforms. This account would also provide access to MT4 live trading without making any further deposits.

Note: it should be kept in mind that this bonus cannot be withdrawn, only the profits made can be withdrawn provided certain volume conditions & terms are met.

2. Tickmill no deposit bonus – $30 (not available currently in SA)

Overall rating 8.0/10

Benchmark EUR/USD spread: on average 1.6 pips.

Welcome bonus: $30 (profits can be withdrawn)

Regulation: FSCA, FCA

Ranked #2 no deposit bonus forex broker

Tickmill is a FSCA regulated forex broker, and also regulated by multiple top tier regulators including FCA. So they are considered safe.

Tickmill was founded in 2014 and offers attractive trading conditions. They provide various trading instruments like forex, stock indices & oil, precious metals and bonds. They provide MT4 and webtrader platforms. They are regulated with top tier bodies like FSA SC, FSA UK, and cysec.

Update: tickmill’s ‘no deposit bonus’ is not available for traders in south africa currently. New traders can signup for a live account with $30 as a bonus into the trading account. This trading account has trading conditions similar to the pro account, benefits of which include low spreads and commission, multiple asset classes, etc. A point worth noting here is the use of expert advisors (eas) is not allowed on welcome accounts.

Tips for wisely using the no deposit forex bonus

It is very easy to see the no deposit bonus as free cash, but it is not. In most cases (with reputed brokers) there will be many terms levied by the broker before you can withdraw any profits made with the bonus.

Traders should treat this bonus as a trading investment to learn and apply their trading strategies in real market conditions.

Following are some tips on how to best use the no deposit bonus:
1) all forex brokers that offer no deposit bonus will have the terms and conditions about it – including conditions for withdrawing profits made with the bonus. So carefully read all the terms & fine prints, understand all those conditions before signing up.

If there is any ambiguity in the terms and conditions, make sure to clarify the doubts with the broker before opting for the broker.

2) some broker may offer bonus that would seem to be really attractive. However, the broker’s reputation & regulations should be considered before choosing any such broker, even in case if it is a free bonus. An exciting bonus should not be the only point to start trading with the broker.

3) always keep in mind that the no deposit bonus is an initial capital for trading and not free cash which can be used otherwise.

The real intention here is to trade properly and earn profits. One should be clear about their trading goals. Hence, we should keep our trading strategies and requirements in mind in order to put the bonus to its intended use.

No deposit bonus is a win-win situation for both the broker and the customer. While the broker will increase its customer base, the customer can train oneself and gain useful insights from trading by using the free bonus.

However, you should be mindful of not falling into false traps and see it as investment capital. You should instead wisely use the bonus to learn trading with a reputed broker & test your strategy in real market conditions.

Frequently asked questions: no deposit bonus forex brokers

Which forex brokers offer no deposit bonus in south africa?

Many forex brokers offer no deposit bonus & most of them accept SA based traders. But we have only reviewed & tested the welcome no deposit bonus by 3 popular brokers:

XM – $30 bonus: ASIC regulated broker.

Fxopen – $10 bonus: FCA regulated broker.

FBS – $100 no deposit bonus FCA regulated broker

Can I withdraw the no deposit forex bonus?

This depends on the broker, but generally the profits made with trading bonus are withdraw-able provided some conditions are met. Almost all brokers that offer no deposit welcome bonus impose strict terms & trading volume requirements before you can withdraw any profits.

It is best to read the terms of the bonus before signing up, so that you don’t get surprises later.

Are no deposit bonus brokers safe?

Unfortunately not all brokers are safe. Most brokers that offer no deposit bonuses are not trusted. That is why it is really important to only choose a broker that is reputed & well regulated. If a regulated & popular broker is offering no deposit bonus then there are lesser risks.

As per our check XM broker, fxopen are brokers that are regulated with at-least 1 top tier regulator & offer no deposit bonus. But you should still carefully read terms of these brokers before signing up for any of their bonus.

No deposit bonus brokers comparison summary

Here are our 3 recommended best no deposit bonus forex brokers for 2020.

Trading cfds is risky. Your capital is at risk.
Disclosure: we earn a commission if you sign up with a broker through referral links in this review. This helps us cover the expenses for running the website.

XM $30 welcome no deposit bonus

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Risk disclaimer

Risk warning: trading leveraged instruments such as forex & cfds are risky and can result in lose of your capital. Read full risk disclaimer..

South african forex no deposit bonus offers from trusted brokers

If you’re out there looking for a new forex broker to deal with, you might want to start considering working with one that offers a very beneficial bonus for trading with them. Though you might not be aware of what a forex bonus is, in which case, let us discuss the concept with you and explain why forex bonuses are some of the best and worst things south african forex broker or any other broker might offer.

The idea behind a forex no deposit bonus is simple: to attract new customers. There are many types of forex bonuses and all of them are there to attract new traders to a platform. Whether this is a welcome bonus forex broker offer or some kind of bonus received after trading a certain amount, there is no question about it, it is always there to attract a new customer. Some brokers might offer more than others and some scams might use bonus offers as a way to attract new victims, but there is always a way to find out what the intentions of the company are. I believe bonuses to be a blessing, simply because they give you more money to work with and a chance to generate more income, but I also cannot shed a feeling that they are a curse. A curse, since a bonus might make you think that it is okay to take a risk you should not be taking because the money isn’t yours, which results in more money being lost than you should have.

Though let’s get over the philosophical deliberations over what the dangers and advantages of a forex bonus are and get into the thick of it: how do you go about getting some sweet, sweet bonus money on your forex account?

What is a no deposit bonus?

First, let us explain what exactly no deposit welcome bonus is and how does it work. Unlike deposit bonuses, the no deposit bonus is usually the one that most traders are looking for in a new FX broker to work. These no deposit bonuses are welcome bonus forex brokers like to offer the least of. S outh african forex brokers with no deposit bonus will usually offer no more than 400 rand, but it will still be a significant benefit to a trader who knows what they are doing. For experienced traders, a no deposit bonus is like a free, no risk capital that can be spent on experimental currency pairs to see the results. If the capital is lost, it doesn’t mean much, but if it has returned, then the results are positive and indicate that further trading might be a good idea. The bonus can also be a nice piece of bait for the industry newcomers, who do not know which broker to start working with. While this is not a problem if you end up with a good broker, the danger of starting to trade with a scammer or a brokerage that trades against you is very real.

On the other hand, the no deposit bonus forex is also one of the best ways to start trading for a beginner trader. The cause for this is simple – new traders, with little experience, are too afraid to invest real money into forex trading. Many of them spend time working on demo accounts, trying to figure out how the market works. While a respectable endeavor, it is a limited one – a simulated market is not capable of showing the full spectrum of problems that perk up on the real market. This is why a nice no deposit bonus is a good way for a trader to move onto the market without risking their real money on the market.

How to find the best south african forex bonus

Where do you go about looking for F orex brokers with no deposit bonus offers, and how do you find them? That question is one that has bothered many before. If you are new to the industry or are simply looking for a new way to make money within it, a bonus is definitely something you might want to look into. But where?

The best forex bonus is one that is found quickly, easily applied for and easily received. To find such a bonus, all you need to do is check with a forex broker. Most international forex brokers and most south african forex brokers no deposit bonuses get updated during certain times of the year. These times are usually specific seasons when these brokers have had a certain surplus in revenue that they can reallocate towards further increasing their user base. Usually, these become welcoming bonuses for new customers and traders, encouraging them to sign up and deposit money to receive the bonus. Finding such a bonus is not that tough. All you have to do is look at the website of some of the brokers that you might be interested in. If they are offering a welcome bonus, they will usually have it promoted on their home page. If such a promotion is not present on the page, then it is probably not being offered currently.

If you can’t find a bonus with a company that you would like to work with, you might want to find and sign up for their newsletter. Brokerages usually have promotional offers for their clients, those who have signed up for their newsletters or subscribed to their social media platforms. This is where you might find nice south african forex brokers with bonus offers or some kind of alternative bonus program that might interest you.

Better safe…

Though be careful! The hard part of the process is not finding a forex bonus. Forex bonuses are usually offered in droves, and simply searching the words on google will result in a whole bunch of results on the subject. The real complicated part of the process is identifying which of these are legitimate offers and which are simple bait to attract you and then never provide you with the bonus. Whether it is a scam or an unscrupulous broker trying to attract you to trade with them, it is important to consider what kind of reputation the broker has in the south african forex broker community.

Knowing what forex bonus to pick with a south african broker

The process of choosing what bonus to pick with what broker can be a complicated one. If it is not a complicated process for you, you are not doing it right. The thing is, you have to do a lot of research before choosing to trade with a forex broker. Think of it this way, if you were making an investment into a building, that as a bonus offered you to install a pool free of charge, would you not make sure that both the house and the pool are of good quality? Would you not make sure that you are getting what you paid for?

The same goes for south african F orex brokers offering no deposit bonus . You should not invest simply because you are looking to make some free cash, but also because you believe the company to be trustworthy. All south african FX brokers offer some kind of benefit for investing with them, but not all of them offer the same kind of quality of service or reputation. A bonus and broker choice should go together and should be done with great care.

Just consider this: one forex broker is offering a no deposit bonus of 2750 rand as long as you start trading with them, while the other is offering a 350 no deposit bonus. Which company would you start trading with? If you are anything like me five years ago, you will be thinking that the first option sounds pretty good. In fact, it sounds a little too good. While the information provided is not enough to decide whether a company is trustworthy, one thing is true: if something sounds too good to be true, you need to make sure it is not a lie. In some cases, companies will make great promises, only to do their best to not deliver on them. The better the premise sounds, the more likely the broker is to not deliver on it. They might give you the promised money and you make more money off of it, but they will simply block you from withdrawing the money. Or they might make the promise of the bonus once you deposit some cash, but you end up never receiving the bonus and have a hard time withdrawing the money you deposited with them. Whatever it is you do, you need to know why you are picking whatever you are picking.

Something else you need to consider: what kind of terms and conditions they have for their bonuses. Usually, a broker, whether it is a south african FX brokerage or otherwise, will have some terms and conditions attached to the bonus. It might be a no withdrawal policy unless you deposit a certain amount, or unless you make a certain amount of money off of the bonus. It could be that you need to complete certain actions to be able to receive the money. It is important to know these, so you can intelligently apply and gain benefit from the bonus.

Finally, it is important to know the general no deposit bonus withdrawal conditions, associated fees and other possible money related conditions that a forex brokerage might have. If the brokerage has a nice bonus, but does not offer an agreeable spread system, has commissioned or has other aspects that you do not find to be agreeable to you, it is not recommended to try and get the bonus from the broker. Make sure to check if the broker is offering F orex no deposit bonus without verification, this should raise your suspicions and validate more research.

How to avoid south african scam forex brokers and scam bonuses

The way to avoiding the scams we have mentioned so many times up to this point is simple: do your research and know the signs. While this might seem like a complicated and time-consuming process, it is an important one nonetheless. Just like with any other kind of investment activity, you need to know what you are doing, and need to know that your money is safe. This is why you need to research the forex trading scams and treat all others with suspicion. If a broker has an underdeveloped and ugly website, is promising something that might seem too good to be true and has many negative broker reviews online, it might be a good idea to abstain from investing with them, as they are most likely to be either a scam or a very unscrupulous company. Here is a quick checklist of red flags to look for:

If their website is underdeveloped or badly optimized

If they are offering bonuses that seem unrealistic

If they are not licensed by any regulatory body

If they do not respond to chat, emails or calls

If they have bad reviews on official websites, as well as user reviews

Or if they have demonstrated any suspicious activity

These red flags should provide you with enough evidence to decide against investing with a company, despite the amazing bonuses they may offer. We have provided a number of reviews of good and bad forex brokerages in south africa on our page that you can take a look at. Those should be able to help you understand what the best forex broker qualities are and how to choose the best south african broker offering no deposit bonus.

What is no deposit bonus and how to choose the best one

Welcoming bonuses are one of the most popular ways for brokers to attract customers. It has some of the best advantages you can think of – you get free money on your account that you can use for stress-free trading, it gives you the possibility to test out the broker as well as yourself and get the full experience of how trading actually works. At the same time, it is good for the brokers as they can stand out from others.

Thus, forex free no deposit bonuses are popular worldwide. But even so, sometimes it can be very hard to find a good deposit bonus as all of them come with certain conditions. Even more, there might be a scam broker behind it. Since it is a very common practice and since the no deposit bonuses are very popular I decided to explain what they are, how do they work, why it is a good idea to take it and where to find the best south african no deposit bonus conditions.

What is a no deposit bonus?

If you’ve been searching for a new broker to trade with you would see that some of them are offering welcome no deposit bonuses to new customers. It is kind of a greeting for newly registered users. The amount of these bonuses are not very high and mostly varies between ZAR 400 and ZAR 700, some broker can offer higher bonuses as well. Why would the broker offer me free money? – you might ask. There is a simple explanation for it. Offering no deposit bonuses is a very good way for brokers to attract new customers. Let’s put it this way: you have spent hours to find a good broker to start trading with, out of thousand brokers you ended up with two that you evenly like and now you need to decide between them. One of these brokers is offering the welcoming bonus of ZAR 400. The other brokerage does not have a bonus. In this situation, it would be logical if you choose the broker that is offering free no deposit bonus. The reason is quite simple, as it helps to determine the quality of the company as mentioned earlier.

How do no deposit bonuses work?

Welcoming bonuses are easy to get and easy to use as well. After registration, in many cases, you will need to verify your account. However, you can find forex no deposit bonus without verification as well. When you finish the whole registration process the bonus amount will be transferred to your account automatically. Usually, it takes a short time but in some cases, it might take up to 24 hours. The best thing is that you do not need to deposit any money on your account in order to receive it. When the bonus is transfered, you can start trading immediately. You do not need to worry about losing if your trades end up being a loss, however, if you trade successfully you will receive the profits. This is another big advantage of the no deposit bonus. Speaking of advantages, let’s discuss it more broadly.

Advantages of forex no deposit bonuses

A great thing about no deposit bonuses is that it is equally accessible for both experienced and beginner traders. Everyone can claim and use the welcoming bonus when creating an account with the new broker. It also means that traders with all the levels of experience and even without any of it – can find something that is good in it.

Stress is one of the major factors that hinder the traders while trading, it happens to everyone but is most common among the inexperienced traders. The stress is of course due to the risk of losing the trade and therefore losing the money. While trading with no deposit bonus one can be free from the risk and stress. Did you lose all the bonus money? That’s okay. It was not the money from your pocket. Therefore there’s nothing to worry about.

You get the profit

There are other ways to trade without risks and stress, but all of them have the same thing in common -they are not profitable. It is mostly done with demo/practice account. With the forex no deposit bonuses you can trade without stress and at the same time get real profit from it.

You get to know the broker

Getting to know the broker is one of the benefits of the welcoming bonuses. Even if you devote a lot of time towards choosing the right broker, the trading experience could be completely different from the results of your research. Using no deposit forex bonuses offered by south african brokers is a good way to determine if it is a reliable broker, if conditions, support, and withdrawal terms are acceptable for you before you decide to commit to long-term trading.

You test the platform

Another thing you would like to try out beforehand while still gaining the profits is the platform that the broker is offering. Just like any other features of the broker you can see if the platform suggested by it is the one you want to trade on.

As you can see, free no deposit bonus does not come only with free money to trade with but with some other great opportunities as well.

Be careful while choosing

As I have mentioned above, there is a high chance that when you have a choice between the two brokers it is more likely that you will choose the one that offers the welcoming no deposit forex bonus. Brokers know that as well. This is why there are many scam brokers that might want to attract your attention with high bonuses. Therefore there are some necessary steps you should take before applying for no deposit bonuses. First things first, the brokerage should be reliable. It is hard to choose the good broker between so many scam or not-that-good ones and it might take a lot of time. But believe me, it is better to spend more time on research in the beginning than lose time on trying to get your money back from the scam broker afterward. It might be a nightmare! Therefore choose the best broker in south africa that offers no deposit bonus to its customers before you commit to it.

To choose the legit and good no deposit bonus you need to understand the way brokers look at it. There are not many reliable brokers that are offering such bonuses, simply because it can be not profitable for them. Usually, bonuses without deposits are offered by the brokers that have had a profitable period and can afford to give ZAR 500 or so to every eligible customer that will open an account with them. Hence, if you see the broker offering high amount bonus to the customers it might be a red flag for you. In forex trading, bigger is not always better. Hence, if you are seeing one broker offering ZAR 400 and the other ZAR 3000 it is not a good idea to rush the larger amount immediately, it can very easily turn out to be a scam! So when you find it, don’t just think you got lucky, check the broker, see its website, number of traders and check the review, then ask yourself – can this broker afford the high bonus it offers?

To find the best forex free no deposit bonus you need to dig deeper. And with it, I mean the terms and conditions. The broker is not your kind relative that will give you cash on your birthday to enjoy. The bonus money you are getting comes with certain conditions that you need to fulfill to be able to profit from it. The main requirement is the trading volume. The broker is setting a certain volume of the traders that you need to make when you are using the bonus. This rule applies to every broker, but the volumes are always different. There might be two cases

1. The broker sets a deadline and volume of the trades that it is impossible for anyone to meet if the person does not have trading superpowers. If you find that the volume is too high you need to understand that it is a trap for you to deposit more and more money additionally and in the end lose it all. Just if you will somehow be able to gain some profit, the most cases withdrawal will not be possible for you.

2. It might be the case that volume is high with good brokers as well. It will be more reasonable than with the scammer brokers, but still high. If you see that the broker has reasonable volume, but still seems high for you, it means that you still lack the experience for it.

Another thing to consider is forex no deposit bonus withdrawal rules. Getting the bonus is very easy, it must be easy to get the money from the account as well. But do not be mistaken here, you cannot withdraw the initial deposit money that was given to you. At the same time, if you make profits and withdraw the money, the initial deposit will be proportionally reduced. Therefore when I talk about no deposit bonus withdrawal, I mean the withdrawal of the profits made from it.

If you have fulfilled all of the conditions that were required it should be very easy to withdraw the profit from your account. Just like in any other case. However, things are different with scam brokers. Just imagine, you get the bonus amount on your account, you trade and do everything that is required, your trades were successful so you got some profit which you want to withdraw and strange things start to happen. You make the withdrawal request but it is unavailable, you get a response that you have violated some of the laws and cannot get the money, or they transferred the money but it is nowhere, or they simply do not let you know anything and do not answer your emails or calls. Trust me, you would love to avoid it all, therefore make sure to always read the withdrawal terms and conditions well. If it is too complicated and unreal – leave it and search for a better south african forex no deposit bonus with a better company.

How to find the best south african no deposit bonus?

Okay, now you know what no deposit is, how it works and what you need to pay attention to when choosing it. But how to find the best south african no deposit bonuses available for SA traders?

First of all, and you should have already guessed it – do thorough research and avoid any promotional campaigns. The bonuses depend on how profitable the brokers are, therefore there are certain times when no deposit forex bonuses are available. If you have already chosen one or two brokers you want to trade with, make sure to check their websites time after time. Also, it is a good idea to subscribe to their newsletter, many large brokerages have newsletters that often include promotional offerings as well. This way you will always be the one who will get the latest updates first.

The best forex no-deposit bonuses in africa

Forex bonuses are cash incentives that online forex brokers offer to newly registered traders. Some brokers also offer bonuses to existing clients to encourage them to make another deposit into their trading accounts. Online brokering services offer several types of bonuses and give them away either as cash or percentages of clients’ deposit amounts.

Types of forex bonuses

The following is a brief introduction to various types of bonuses clients come across at online forex brokers:

Welcome bonus – this is the most common variety of forex bonus, given away to clients who have just loaded funds into their trading accounts.

No deposit bonus – this is a bonus given away to newly registered clients just to encourage them to start trading without risking their own money.

Loyalty bonuses – these are offers designed to reward clients who stay loyal to the forex broker.

Forex rebates – the FX broker credits to clients’ accounts a part of the commission or spread after they close positions. While some brokers credit rebates instantly, others do it on a weekly or monthly basis.

Why forex brokers offer bonuses

Forex bonuses serve multiple purposes, and here is a brief list of their benefits:

Forex bonuses give clients the feeling that the broker is interested in their welfare.

No deposit forex bonuses and welcome bonuses serve to attract new clients to online forex brokers, thus expanding their customer base.

Loyalty bonuses give existing clients an incentive to make deposits and continue trading.

Bonuses help minimize the risks of trading as you are trading with the broker’s money, not your own.

Bonuses are marketing tools that not only attract new clients to the brokering business, but also makes them feel special and welcome. In addition, they serve the purpose of client retention.

Bonuses serve the purpose of popularizing the online forex broker and help it to compete effectively with its rivals.

How forex bonuses work

To receive a forex bonus, traders have to either open a trading account or make a qualifying deposit or both. Once you have qualified for a bonus, you may have to wait for a few hours or days for the broker to credit the bonus to your account.

At this point, you should remember that the bonus you have just received is not yours to withdraw. It is still the forex broker’s money, given away as an incentive for you to trade. So you have to “work” for your bonus by completing the required volume of trade.

Top 3 forex brokers offering no deposit bonuses

There are several top-rated forex brokers that welcome south african traders with no deposit bonuses. If you are a bonus-hunting south african investor or trader, we recommend the following top 3 no-deposit forex bonus offers:

#1 get $100 at FBS

FBS offers a trade 100 bonus, which is extremely beneficial for beginners as well as experienced traders. When you claim your trade 100 bonus at FBS, you get the following three benefits:

A real account with real money so that you can start trading instantly

Complete set of educational material so that you can learn everything you need to know about forex trading

Start trading and make profits without making any deposit

The best thing about this bonus is that you can withdraw $100 of profit. All you have to do is register a bonus account and get your $100 no deposit bonus. Spend the next 30 days as an active trader at FBS. The broker wants you to trade five lots. If you succeed, you can withdraw up to $100 as profits.

The bonus offer comes with a few conditions, as follows:

This bonus is available on MT5 platforms.

The order volume is 0.01 lot.

You can open a maximum of five positions simultaneously.

#2 instaforex.Com’s $500 startup

Instaforex.Com encourages newly registered traders to start trading without making any investments or taking any risks. New customers only have to claim the FX broker’s $500 startup bonus. The steps are quite simple:

You have to open a new trading account at instaforex.Com. They don’t have to verify their details.

They don’t have to make any qualifying first deposit.

The forex broker instantly credits the bonus to their accounts.

You can trade seven classes of assets at instaforex—energy, indices, commodities, equities, currencies, metals, and cryptocurrencies. The instaforex trading environment is quite comfortable, featuring the following:

Community of over seven million traders and investors

Fast and secure deposits and withdrawals

Over 400 trading instruments

Order execution speed starts from 0.05 seconds

Fixed spreads without hidden commissions

24/7 customer support

Leverage of up to 1:1000

#3 $30 welcome account at tickmill

Tickmill offers a world class trading environment and gives customers the opportunity to use it risk-free with its $30 welcome account. New clients do not have to make any qualifying first deposits to claim these free funds. They can easily open a welcome account and get their $30 bonus. This gives customers not only a risk-free opportunity to trade, but also to withdraw their profits.

The FX broker disables trading on the welcome account at the end of 90 days after opening it.

However, traders can continue to access their welcome account for 30 more days to transfer their profit from their welcome account to a live MT4 account, which they need to create.

The welcome account is available only in USD, and the broker automatically credits $30 into the welcome account as soon as it is opened.

Forex bonus terms & conditions

As attractive as forex bonus offers sound and look, traders must understand that there is a lot of fine print involved. Before claiming a bonus or even showing any interest in it, traders have to read all this fine print, which they will find on the terms & conditions page.

Here are some of the common bonus terms & conditions:

To become eligible for a bonus, you must be a registered client of the forex broker.

Most bonus offers require a qualifying deposit.

A single bonus offer cannot be claimed multiple times.

Usually, online brokers credit bonuses in separate accounts called “bonus accounts.”

Customers can withdraw their bonus only after meeting the “minimal trading requirements,” which indicates that they should trade the required lots within a given time frame.

Bonuses have expiry dates.

Forex brokers can cancel the bonus under certain conditions.

Conclusion – should you claim a forex bonus?

Making the most of your forex bonus is not as easy as eating cake. In the first place, you should never claim a bonus without first reading the terms and conditions.

You should also remember that you cannot make any withdrawal request until and unless you meet the “minimum trading requirements” of the bonus. You have to trade a lot, depending on the bonus terms and conditions, before you can be allowed to make a withdrawal.

You should also satisfy these requires before the bonus expires. That means a lot of trading, which may not be possible for new traders who either don’t know much about trading or just don’t want to take too many risks.

So, we strongly recommend reading the bonus terms and conditions and clearing all your doubts with the customer support team before claiming a forex bonus. Accept the bonus only if you feel that it will be of any use to you.

Markets.Com ZAR 250 ($25) free bonus

Markets broker, a south african FSB regulated forex broker, offers a great ZAR 250 ($25) bonus to all its new clients from south africa for account registration. The traders can use the bonus amount for 3 months to trade and earn a profit!

The eligible clients are required to sign up for a trading account at the broker in order to receive the free funds. The bonus amount and the earned profits will become withdrawable after meeting the required trading conditions - at least 10000 ZAR trading volume for every ZAR that you receive which is, in this case, will be 2,500,000 ZAR - and making a deposit.

Bear in mind that for a withdrawal request you need to provide a legitimate identification document such as a passport, a national id or a driverвђ™s license in addition to a utility bill or a bank statement for proof of address.

How to receive the markets.Com ZAR250 ($25) no-deposit bonus:

Simply become a member of the broker by open a trading account (complete the verification process), receive the bonus in the amount of $25 automatically, and begin your trading experience as well as making profits.

Certain conditions:

The bonus offer is applied once per client, and multiple account participation is not allowed.

Premature withdrawal requests will result in bonus cancellation.

Forex no deposit bonus south africa

Forex trading technology service in south africa is an easy way to buy and sell any stocks, bonds, futures and all types of securities.

A responsible approach to any of your investments is, first of all, the choice of your broker that provides a full range of services. A reliable personal account and zero-percentage commission when replenishing a trading account guarantee minimum costs and expenses.

Clients from more than 150 countries around the world, including for south africa, have much following great benefits:

An excellent option
to start your real trading

Classic

More than 130 tools
leverage up to 1:2000
0.01 of lot – minimum order

This type of account suits active
traders and scalpers perfectly

MARKET PRO

Precise quoting: 5/3 digits
spread from 0.9
execution from 0.1 sec

Professional trading
on the advanced level

Trading inside spread
high liquidity
prompt switch to interbank

Market order execution

Unlimited number of charts

Signals about system and trade events

download

Extended set of time frames

6 types of pending orders

Deep history of quotes and charts

Built-in economic calendar

download

All basic functions of metatrader are now in a browser!

Trade on any device fast and safely.

Clients from south africa who are taking their first steps and are already experienced players are offered free and free additional theme webinars to improve their skill, experience and competence. Professional technical support, round-the-clock services that advise you both by online and by phone make forex trading technology service as comfortable as possible.

Forex no deposit bonus in 2021

Risk warning: losses could exceed deposits.

Haroun kola

Questions?

Risk warning: losses could exceed deposits.

How to trade forex for free

If you always wanted to trade forex, but just don’t have the money to start or you want to try out the live servers instead of demo servers then these brokers have made it possible for you to do just that.

These accounts come with their own terms and conditions and I urge you to read each of them so that you know exactly what to expect from these accounts.

Don’t expect to be able to withdraw this amount, you may be able to withdraw profits, but there WILL be trading volume restrictions and most of them (ALL I think) will want you to make a deposit of your own cash before they make any of the proceeds of this bonus available to you.

Tigerwit

Tigerwit have just announced a new $25 no deposit bonus for ALL new traders to try out their live trading conditions. It could also be a celebration of liverpool winning the EPL after a 30 year wait, but whatever the reason, I’m thrilled they’re doing this.

They have a copy trading solution and in partnership with an EA provider we’re experimenting to see how profitable it could be. More details will be provided to every trader that signs up for this free trading account.

Markets.Com

My favourite broker for this kind of bonus is markets.Com who are offering a R250 in trading credit.

Now I’ve never tried one of these accounts myself, I’d much rather learn with at least a reasonable amount of funds to see me through any consecutive number of losing trades, but I definitely know that other’s are looking for this. So, if you take this up, I’d love to know what your experiences are.

Tickmill

Experience one of the best trading environments in the industry risk-free with tickmills $30 welcome account.

No need to deposit funds

No risk of losing your money

Profits earned can be withdrawn

Trade for free with XM

XM is offering a $30, no deposit bonus to try out their services. Many brokers are now offering this risk free way to give you a taste of their services.

You probably won’t get rich from this free account, you’ll need a decent size account of at least $500 if you want to start making some real money but if you haven’t ever traded before or you want to see what their service is like, sign up with XM.

Instaforex offers A no deposit bonus

Instaforex, asia’s favourite broker also offers a no deposit bonus. There’s is one of the most generous at $1000, but before you get too excited, listen up to what their terms and conditions are.

As soon you reach a 10% profit, ie. $100 in profit, your account won’t allow you to trade any longer until you make a deposit of at least $100.

If you’d like to take advantage of this, then open an account here.

$10 free from fxopen

It’s very easy to apply for the $10 no deposit bonus from fxopen. All you need to do is register an fxopen ewallet. Verify your mobile no and finally, open an STP trading account.

You may withdraw all profits after trading 2 standard lots. The initial $10 USD bonus can’t be withdrawn though, it’s not your money, honey.

I must re-iterate, these trading accounts won’t make you rich for free. You’ll have to make a deposit and trade a certain amount to be able to withdraw either the free deposit amount or

Markets.Com south africa no deposit bonus

Markets.Com south africa is one of the major players in the forex trading arena not only in south africa but the world at large. The firm is known for many things among them offering its customers some intuitive features which make trading easier, exciting and ‘informed’ for traders. But the one thing that separates the broker from the rest is the markets.Com no deposit bonus feature. This feature is enjoyed by traders who opt to trade in commodities, currency pairs and even cryptocurrencies. Even though the broker is based in south africa, it has clients from all over the world and its services are offered in 15 different languages.

Trade with no fees & free VPS!

Get started with XM and enjoy the pro trading conditions. Stop settling for an average. Choose the best.

The markets.Com no deposit bonus

Like many FX brokers out there, markets.Com has tailored its platform so as to ensure that traders not only have an easy time understanding how to trade but also enjoy doing so. The south africa-based firm now offers its south africa customers a no deposit bonus. The markets.Com bonus no deposit amounts to R250. All a trader is needed to do in order to get this free R250 is to sign up for an account. You will be required to complete the registration process after which you will receive the bonus in your trading account. You can then start trading immediately. Click here to get XM 30 USD bonus instead!!

Markets.Com as a whole

The brokerage itself is considered to be one of the best south african forex brokers as it has been attracting arguably the most amount of locals to its platform. This no deposit bonus is a testimony to their devotion to the development of the financial knowledge for the local population. The knowledge gap between financial freedom and poverty has been becoming smaller and smaller in south africa and markets.Com is one of the companies to thank for it. In terms of regulation, you are completely covered as the brokerage is listed on the country’s regulation list, by the financial watchdog FSCA.

Why go for the markets.Com free account?

For the traders who are based in south africa and who have never traded a live account before, markets.Com offers them the ideal learning opportunity. The markets.Com bonus without deposit helps traders especially the newbies get a good idea of the trading conditions.

The traders also get to master their trading strategies. When a trader manages to build their account from R250 to maybe R500, they become more confident and also learn the tricks they can employ when it comes to dealing with real money. Even when such a trader loses the bonus money, they learn the mistakes they will not repeat when it comes to trading using their hard-earned cash. On top of that, the money they lose here is not real money.

Top 10 best forex brokers in south africa for 2021

Top rated:

If you are a forex trader in south africa looking for a broker, we are here to help.

Finding the best forex broker in south africa can seem like a difficult task sometimes. That is why we have collected as much information as possible to help you along the way.

As a forex trader in south africa, you will find information here on some of the top forex brokers, as well as the best forex trading platforms available and much more about the top-tier FSCA regulation provided by many brokers.

Is forex trading legal in south africa?

This is a very common question that comes from forex traders in south africa and around the world. In regard to the legality of south african forex trading. The answer, in short, is yes.

Forex trading is completely legal in south africa.

In fact, forex trading in the country is well regulated by the FSCA (formerly FSB). Through their experience and good practice in the industry, they have risen to become one of the most respected regulatory bodies in the forex market.

Beyond that, the FSCA regulation provides such a trusted experience that many non-south african traders from around the world also seek out top forex brokers regulated by the FSCA.

This is possible in just the same way it is also possible for south african forex traders to choose forex brokers who are regulated outside the country by other bodies.

How to trade forex in south africa

The process of forex trading and starting your account with a south african forex broker is not unlike that you may find in another country.

The basic steps you should follow are to choose your broker (we have listed many of the top south african forex brokers below), provide the documents required by the broker to prove your identity and residence, and finally fund your account.

If you are depositing more than 1 million ZAR ($65,000 approx) you may need a tax clearance certificate (TCC) since most of the top brokers keep their accounts outside south africa, you would actually be sending money to another country to fund your account. This is not too difficult but does require a tax clearance if you are depositing more than that amount of money.

If the amount is smaller, then the process of funding is much easier through the single discretionary allowance (SDA). This allows you to move as much as 1 million ZAR per year abroad without the need for the same documentation. You can find more information on these regulations here.

It is worth noting that these processes are not needed if your broker has a deposit account within south africa.

Top 10 best forex brokers in south africa

Getting into our listing of the best forex brokers in south africa for you, the first 6 brokers we have listed for your convenience are FSCA regulated brokers, while the brokers numbered 7 to 10 are top international forex brokers who accept south african traders.

So, let's see, what we have: see our list of trusted forex brokers with no deposit bonus available for traders in south africa. We have compared the bonus terms, withdrawal conditions. At forex no deposit bonus south africa