Best no deposit bonus forex
Whether you are just entering the forex markets or planning to trade in currencies in the future, the no-deposit bonus can help you set up nice and easy.
Top forex bonus list
Forex racer
Forex no deposit bonus
The best free forex no-deposit bonuses 2019
Make money in forex without investment
People say that the number one rule of financial trading is that you need a good deal of investment to start. That is no longer true. You can start trading in the forex market with as little as 100 dollars on a part-time basis. The key is to only make trades when you get a profit. If you know the market and study forecast accurately you can make a good steady income even with a small initial investment. Another good way to make money without investment is through a no-deposit forex bonus account. These accounts allow you to trade without investing your own money and still create a regular income stream.
What is a no-deposit bonus?
Whether you are just entering the forex markets or planning to trade in currencies in the future, the no-deposit bonus can help you set up nice and easy. It is the key to understanding the forex without risking any of your own, hard-earned money. If you discover that you have a knack for forex trading and are a natural at it, you can invest your own money and take up forex trading full time. If your trades don’t go as well as you hope, or you realize that forex trading just isn’t for you, you can just close the account without paying anything. No loss, no gain.
The popularity of no-deposit forex bonus
Forex trading platforms are always coming up with new incentives and ways to attract investors to their platforms. They have tried the virtual currency accounts and zero-fee for a month’s accounts. However, the no-deposit forex accounts gained more popularity than any other incentives. No-deposit forex bonus accounts are aimed specifically at new investors who lack experience of the currency markets. They also attract investors who have the time to research markets, but can’t spare enough funds to really get into forex. The no-deposits bonus accounts allow investors to make a significant amount of money with virtually zero risks. This is precisely what makes them better than any other type of incentives.
The risks in forex trading
Forex is a risky investment market that is not meant for people who cannot handle losses. There are millions of individual, retail and institutional traders trading daily in the forex market but only a handful of traders actually find success. Beginners can use demo trading, and it does help them understand the risks in the market. However, demo trading does not replicate the real-life emotions and risks of live forex trading. Many people turn apprehensive when they switch to real trading from demo accounts which affect their trading tactics. New traders are often unwilling to make trades because they don’t want to take the risk. This is where a forex no-deposit bonus can be useful. It works for both amateurs and more experienced traders. The no-deposit bonuses are in high demand in the FX market, but there are only a few online brokers that actually offer this facility for new accounts. Let’s take a closer look at how no-deposit bonus accounts work, and which platforms currently offer the best no-deposit forex trading in the market.
How do forex no-deposit accounts work?
Traditional forex accounts require you to deposit a sum of money into the account before you can start trading. The minimum balance can be $500, $1,000 or $5,000 depending on the broker. Once an investor has deposited the balance, the broker makes a commission on every trade that’s carried out through that account. This commission is the main source of income for the broker. In this type of traditional account, the depositor bears all the risk while the broker is guaranteed a return through commission. In no-deposit bonus accounts, the investor is not required to make an initial deposit and receives a bonus amount from the broker. This balance can be used for trading normally as if the investor deposited the money. You can also withdraw the balance without verification under the terms of the broker. If the depositor makes a profit through their trades, it belongs entirely to them. If they make a significant loss and lose all the initial deposit, they don’t have to pay anything. The broker bears the trading loss. The broker still collects a commission on the transactions which can compensate some of the costs for giving out the initial bonus to depositors.
Why forex brokers offer no-deposit bonus?
It is evident from the model that brokers have everything to lose from the no-deposit bonus and very little to gain. If a new investor makes risky trades for a greater return and the bet pays off, they can increase their balance significantly. If the bet fails, the broker bears the cost and they walk away without losing anything. So why do brokers offer the no-deposit bonus? There are two main reasons. The first is from a marketing perspective. Brokers that offer a no-deposit bonus usually get higher visibility on broker comparison platforms. No-deposit bonus is a huge attraction for both new and seasoned traders. The bonus brings more traders to the broker’s platform and increases their earning potential compared to its competitors. The second reason is that of all the traders that invest through the broker, some win and some lose. Brokers hopes that the big winners will continue trading through the platform while earning them commission in the process. People who win the first few trades are also likely to deposit their own funds into the accounts to scale their winnings.
No deposit bonus forex
Forex no deposit bonus lists with guidelines - 2021
Forex no deposit bonus is for new traders in real account offer by forex brokers. To start forex trading you don’t need any deposit, the offer for practicing real market trading – just a risk-free start.
A lot of forex brokers offering and the amount of the bonus will vary. You have to search for and need some patience to compare and choose the best one. After practicing on a demo account this free bonus is a very good opportunity to be a professional.
You can practice trading and check the broker platforms and opportunity to pick the best broker.
How to use a best no deposit bonus forex
Using best no deposit bonus forex is a perfect way to be a professional. If you can use this free bonus perfectly, you will be a good trader, no doubt!
So, when you will start with a free bonus, you have to focus on these:
Broker trading platform: the broker trading platforms are different. If you have done demo trading then you can see a lot of difference between demo trading vs live trading. The free bonus gives you an opportunity to test the broker platform. Also, you can check the mobile and desktop versions.
Brokers comparing: there are a lot of forex brokers and offering a lot of bonuses. The broker is half of the way to earn a profit. So choosing the best broker is important for traders. Through the broker bonuses, you can compare brokers to choose the best one.
Try something new and educative mind
The free bonus gives you e lesson to learn new something. If you are trading USD/EUR pair then you can try different currency pairs. You have to focus on learning new something.
No deposit pros and cons: A free bonus is really good for both parts (brokers and traders) of the trading market. Here is the one line pros and cons for you:
Pros: free money to trade learn, practice and making a profit
Cons: newbie traders don’t practice demo trading
Conclusion: forex no deposit bonus is undoubtedly good. Finding a free bonus is not difficult but the good one is some difficult. So compare bonuses before choosing the bonus. Most of the brokers offer to withdraw
Expose what is the meaning of forex no deposit bonus. You gain a real forex trading account with original money on it no deposit required from your side
Youвђ™re probably interested in forex live trading. It is a good way to increase your wealth if you have the right skills and knowledge about the industry as a whole. However, itвђ™s worth to mention that there are a lot of pitfalls in forex trading. If you fail to become an expert in trading before investing large sums of money in it, you may be leading yourself towards financial ruin.
Now, sure, you have read dozens of articles on forex and how to make a profit on it. You have seen dozens of people talk about their immense fortunes earned by trading. What you havenвђ™t seen is thousands of people who only suffered losses when they started trading. Donвђ™t become one of them, trade with skill.
You canвђ™t get experience unless you fail. But how do you get trading skills if you donвђ™t want to lose your own money to learn? The answer is to get a no deposit forex bonus on a forex trading platform.
It is a free bonus (no deposit required) with no deposit required and no strings attached. You just have to register to get anywhere from $30 to $500 for free to get you started in trading. Make sure you don't waste the money and work hard to learn the basics.
Is bonus with no deposit on forex a scam?
While the industry has seen some fraudulent projects, most places that offer trading bonuses with no deposit are trustworthy. The thing is there are so many trading platforms that they have to compete against each other to win new paying customers. Giving away some free money for you to learn how to trade is only beneficial for them.
Profit from their offers. Browse the list of trading platforms that offer no deposit bonuses and chose the most beneficial option fo you.
Forex no deposit bonus is risk free and deposit free bonus. You don’t need any deposit, the broker will give you bonus after opening a new account. Just you need to register with a forex broker and verify your account. Then you can start your live trading.
This how forex broker makes their potential client. Forex broker utilizes no deposit bonuses to pull in new customers, particularly in the event that they are new brokers, to expand their demographic as quickly as conceivable which is the reason they offer such free rewards.
Presently, forex trading becoming more popular, so there are too many traders and they want to start deposit free welcome mean no deposit bonus. Luckily, there is various forex broker offering no deposit bonus for beginners. They offer amazing bonuses, often $5 USD to 100 USD.
How free bonus is important?
Most of the brokers offering bonus. In any case, the greater part of them is unregulated. They are doing it is a great way to find new clients and they can’t find another good way. But regulated forex broker is good they offer some good bonuses for a newbie to familiar with live trading and their trading platform. We reviewed unregulated forex broker offer a free bonus with too many conditions and trading period is very short like 15 days, 20 days maximum 30 days, also you can’t withdraw the bonus, you have to trade required standard lot volume within a short time. Also, you fell trouble with leverage, the maximum amount of withdrawing and withdrawal method and other things. Then?
However, forex free reward is significant for currency traders. A regulated broker always offers a good bonus with some easy conditions to familiar with them. I think finding a trustable broker is important, so a beginner can join with a regulated broker bonus and they have to check some important factors like leverage, speared, fees and commissions and other things. One other thing is a security issue and trading platform.
So you already got it free bonus is important and joining with a regulated broker is better.
In this case, if you are a newbie in this forex trading market, obviously you can start with a free no deposit bonus. Forex is an extremely entangled and professional market, you need some experience to success on trade. In this case, if you are new in the FX market, utilizing a free reward can enable you to make some profit and increase some knowledge on how the market actually work you can make money more.
When you get familiar with your way (strategy, techniques), you don’t need the free reward again. You'd have the option to trade and make plenty of benefits by live trading. Moreover, experience traders, sometime takes a free bonus to multiply their profit and test a new strategy.
Terms and conditions for free forex bonuses
The different broker set different terms and conditions. There are a lot of terms and conditions in a free bonus, some terms and conditions are really hard. Like you have to trade a certain number of standard lot volume to withdraw profit. But there have also some good trader they regularly making money with this free bonuses. They use tricky techniques, they always hunt bonus presenting a website to choose an amazing bonus. The choose bonus then joins, start trading make some money, and build up their special strategy.
On the other hand, some other brokers will give you one time to withdraw conditions. Some will ask to deposit for withdrawing and some will say to start live trading and internal transfer your amount.
Discover more about the free bonuses
You have learned a lot already from here, but sometimes beginner asks some question us this like:
Is forex free bonus is a welcome bonus?
Actually, most of the time broker gives the bonus after joining with them so you can say it is forex welcome bonus.
Also, some reputed broker gives a bonus to their old clients and new clients, its deposit bonus like a 20% deposit bonus. Example: a trader after deposit $100 the broker will give $20 and the trader will able to trade with $100.
Does forex broker give no deposit bonus without verification?
Yes! Usually, a broker doesn’t provide the free bonus without verification. First things you need to fill-up at least your name and email, you have to confirm your email id for the complete creation of account.
Usually, the broker wants some individual data like ID card, passport or utility document after opening or before withdrawing profit.
But sometimes it happens that forex broker offers no deposit bonus without any verification.
Can I make money with a free bonus?
Why not? The broker gives the bonus to trade on the real market. It totally depends on you, if you can make some profit it’s obviously yours. But we suggest free bonus for newbie and learn something and for familiar with real market trading and for preparing themselves for the future.
So you can make with free bonus and withdraw it after meeting the terms and conditions.
What is the best thing in a free bonus?
The best thing is if you have a no fund you can start live trading, you can learn new thing and if you can make some profit further you can trade it with a forex deposit bonus that will boost your trading capital.
So you have to start with a free bonus wisely.
Conclusion
Forex no deposit or deposit free trading bonus is a kind of blessing for a newbie, they can start live trading with it easily. Here is some good opportunity will help you to take a decision to choose a free bonus.
- You can start live trading without any deposit
- You can change your broker platform of a broker
- You can earn some money and grow your confidence
You can change your trading instruments (currency pair, stocks, indices, share, commodities, and crypto currency)
You can start trade without pressure and risk free
You can develop your trading plan, strategy, and pattern
So you may say the free bonus is a really good opportunity to learn real forex trading, familiar with live trading environment and prepare yourself to take the challenge (forex trading contest)
No deposit forex bonus brokers - 2020
No deposit forex bonus is one of the most desired forex bonus and promotions by forex traders because you can trade without depositing your own money. Forex brokers offer many types of bonus and promotions to attract more clients or to reward the clients for choosing them as their broker. Free forex bonus and promotions certainly benefit the clients since they allow the clients to trade with a larger balance than they have deposited.
What about forex no deposit bonus 2020?
Of course, I am assuming that the broker is not a scam. Because, there are tons of scam brokers out there who allure novice traders through attractive bonuses just to fraud them at the end by rigging the trading conditions or simply pocketing the client’s deposit.
Therefore, free forex bonus and promotions should not be your only criteria when choosing a forex broker. Regulation, trading conditions, reputation and customer services are some of the other features that every trader has to take into account on the road to pick a suitable forex broker for yourself.
What is no deposit forex bonus?
There are many forex bonuses offered by brokers, some of them being granted to the traders post-trading, and others being rewarded to the trader’s forex account conditional on a certain amount of deposit or trading checkpoints. Deposit bonus, welcome bonus, redeposit bonus, rescue bonus and volume bonus are examples for different types of forex bonuses.
In addition to those, there is another type of free forex bonus. This forex bonus is credited to the trader’s account without any initial deposit or other condition whatsoever. Well, of course there is one condition; opening a forex account with the broker. As soon as you open the trading account, you will be rewarded with a free bonus. This type of forex bonus is called no deposit forex bonus.
No deposit free forex bonus brokers in 2020
Why is no deposit free forex bonus important?
No deposit free forex bonus is a great opportunity for beginner traders to gain experience without risking their real money. Besides, it allows seasoned traders to evaluate the services and live trading conditions provided by the broker before depositing money into their trading account.
Since it is not your own money, it will not hurt you financially and emotionally in case you blow up the account. The bonus is also very useful for traders who wish to develop and test new trading strategies without investing and risking their capital.
It is a common exercise followed by the forex brokers to provide different trading conditions in terms of spread, execution time and slippage between demo and live trading accounts. Therefore, trading with a demo account may mislead traders regarding the trading conditions that come with a live account. No deposit forex bonus allows traders to experience a live trading environment with the actual conditions.
How to choose the best free forex bonus?
It is never an easy task to choose a forex broker. I always emphasize the inappropriateness of choosing a forex broker solely due to the appealing free bonus and promotions. Never pick a forex broker just because it gives you a higher percentage of free bonus than the other brokers do.
- Prefer a regulated forex broker
Regulation must be the first and foremost quality of a forex broker that you are going to trade with. You should always put regulation and license above all else when selecting a forex broker. I don’t recommend openening an account with an unregulated forex broker no matter how good the bonus and promotions are offered. After all, what is the use of a free $5000 bonus if you will not be able to withdraw your capital from the forex broker?
Another point to keep in mind is that many unregulated or poorly regulated forex brokers use free forex bonuses as a tool to attract more clients just to fraud them. Those are the scam forex brokers that you have to stay away from no matter how big bonus and promotions they pledge.
- Consider the trading conditions
Spreads, execution time and slippage are going to have a decisive impact on the fate of your trading strategy. Free forex bonus and promotions are very alluring however the trading conditions may be against your advantage just to strip you off the benefits of the bonus. In another word, the brokers may give you the bonus but may not let you benefit from it through adverse spreads, execution time and slippage.
- Read and understand the terms and conditions
Forex bonus and promotions usually come with certain terms and conditions. Some forex brokers let you enjoy the free bonus without verifying your trading account while some others require you to validate your account first. Some forex brokers even allow you to withdraw the free bonus conditioned on certain prerequisites.
Therefore, it is always a good idea to read and understand the terms and conditions of the no deposit bonus to avert an unpleasant surprise afterwards.
Best no deposit bonus forex brokers 2021
Forex trading can offer opportunity to make good income if you have enough trading experience. But there is an obligation to deposit funds in your trading account with the broker, before you can start trading live.
But this is not the case with no deposit bonus offered by brokers!
Usually you may be unable to start because of limited funds, or you may want to test out your strategy on live before trading with actual money. The no deposit bonus can help in this case.
The no deposit bonus is a promotion by forex brokers where they offer free starting capital into the forex trader’s account, without any initial deposit.
But you still must be cautious in choosing a broker that offers no deposit bonus or any similar promos. We have done the research on the brokers that are currently offering bonus to traders from nigeria.
Best no deposit bonus forex brokers in nigeria in 2021
There are a few forex brokers that offer sign up bonus without any deposit.
5 best no deposit bonus forex brokers
We looked into all the brokers that offer no deposit bonus to nigerian traders, and then we hand-picked the few popular ones.
Let’s start by comparing the bonus & the terms to avail the bonus for 4 brokers in our list!
1) $30 bonus by XM:
Overall rating 9/10
XM is in our recommended forex broker list
Globally acclaimed XM is a broker regulated by cysec, FCA, IFSC, ASIC among others. It’s a global trading platform that offers a US $30 no deposit bonus to first-time clients who open a real trading account.
How to avail $30 XM forex bonus:
1) open trading account: to avail this bonus, traders must open a real trading account with XM. You can easily open it from here.
2) verify account: log in to the member’s area to validate the credentials sent via email. Then, traders must provide documentation for identification and account validation. SMS phone verification must then be carried out.
3) credit bonus: following this, the bonus is credited to the live account, ready for trading. The bonus is only available till you lose it or withdraw profits from the account.Post email and SMS confirmation, the user can confirm the transaction and log into the system.
An MT4 ID is assigned as a username while logging into the platform.
Bonus terms and conditions at XM forex
- Bonuses cannot be withdrawn.
- The bonus account can only be opened by new XM clients.
- Profits generated can be proportionally withdrawn as per provisions of XM any time.
- Bonuses cannot be activated for more than a single XM trading account.
- If the trading account is not active, the bonus is removed.
- Trading bonuses are not available for EU and UK clients, as the CYSEC and FCA regulated broker cannot offer this for traders from these countries. Clients registered under trading point of financial instruments UK limited and trading point of financial instruments limited cannot avail this bonus offer, therefore. Additionally, the bonus can be availed only once per IP address or household.
- The bonus is available within a 30 day period of signing up with XM only.
- XM permits trading activities of all kinds except arbitrage.
2) $100 bonus by FBS:
Not listed in our best forex brokers list
FBS is a cysec and IFSC regulated broker that offers the highest bonus. It is currently running multiple bonus offers, each with different amounts and rules. One of their most popular no deposit bonus offers is the trade 100 bonus, where you can get $100 of free funding.
How to avail $100 bonus at FBS?
To get the US $100 bonus, take the following steps:
1) register: the first step is to register and open a bonus account.
2) verify your account & get credited: you need to verify your account with FBS. Once your account is verified, your account will be credited automatically with the bonus fund.
3) start trading: you must use the MT5 account for placing trades for 30 days. And you must fulfil the conditions set by FBS before you can withdraw any profits made with the bonus.
Bonus terms at FBS:
- You cannot withdraw the bonus, but you can withdraw the profits that you make, once the conditions are met.
- Maximum leverage that you can use during trading with the bonus is 1: 500.
- Further, the bonus can only be claimed once by new traders only.
- Profit generated from trading with the bonus funds can only be withdrawn after 5 lots are traded, and $100 in profits or more are reached.
- Bonus is cancelled once the first withdrawal is made.
3) $500 bonus by instaforex
Not listed in our best forex brokers list
Instaforex is another broker that offers no deposit bonus. Their promotional bonus is called the start up. They don’t require any verification to avail the bonus, but you have to make an initial deposit before you can withdraw the profits.
Note: instaforex is not in our recommended forex broker list for 2019, hence we don’t recommend them. If you are choosing to avail their no deposit bonus, please do so at your own risk.
How to avail $500 bonus at instaforex?
1) open a trading account: to avail the benefit of signup bonus you need to open a trading account at instaforex.
2) verify account & get bonus: the bonus can then be claimed after verifying your account.
Bonus terms at instaforex:
- The new deposit bonus is available to new clients only.
- You don’t have to offer documents for account verification to receive the startup bonus.
- You can only withdraw the profit only once you deposit funds to your account. You have to deposit $50 to withdraw the bonus.
- The bonus profits available for withdrawal cannot exceed US $50.
- The bonus does not extend to instaforex cent accounts.
4) $10 bonus by fxopen
Not listed in our best forex brokers list
Fxopen is a regulated forex broker. They have been offering $10 signup bonus with theit STP account for some time now & it is available to nigerian traders as well.
How to get the $10 bonus at fxopen
1) open the STP account: the first step is to open the STP account at fxopen.
2) verify your account: the next step is to verify the account via SMS.
3) get bonus: following this, the bonus is automatically credited to the STP account. For availing this bonus, you must register an fxopen ewallet.
The bonus will be automatically added to the first STP account new traders open.
Fxopen bonus terms:
- Fxopen offers the US $10 no deposit bonus for STP forex trading accounts.
- While the bonus is received for free without any deposits, the conditions of the promotion must be met.
- $10 bonus amount is only for STP account holders to trade. It cannot be withdrawn.
- The maximum leverage allowed is 1:500. The bonus is credited directly to the trading account.
Common rules by no deposit bonus brokers
First you must understand that the bonus is for trading purposes only. It should be used as a way to practice in the live trading environment, and you should not see it as free cash.
Usually, there are some common rules (which you must know) set by all the no deposit bonus forex brokers:
1. You cannot withdraw the bonus but you can withdraw the profits you make while trading with that bonus.
2. You must trade a minimum number of lots for the required period until the broker’s terms are met.
3. You cannot claim the bonus in multiple trading accounts.
4. There may be other terms set by the broker, and you should check it out first before choosing any no deposit bonus broker.
How to choose a no deposit bonus forex broker?
We have prepared this list on few important points that you must consider before claiming bonus with any broker.
When it comes to no deposit bonuses, you need to consider the following factors:
1. Read the terms carefully (don’t just skim them)
Just because you not depositing any money to trade, doesn’t mean that you should choose any broker that offers bonus. Some brokers will lure you with extravagant bonus offers, but their withdrawal terms are very shady & bad, often requiring you to make deposits before you can withdraw any profits made with the bonus.
For example: instaforex requires you to make a deposit before you can withdraw any profits made with the bonus. This is not a favorable term. Even XM requires certain level of trading activity in terms of volume traded before you can withdraw any profits made via trading the bonus.
So make sure to read the terms carefully before choosing any broker for no deposit bonus. If there is something you are unsure about, don’t be shy to contact the broker’s support.
2. Always check the broker’s regulations
Unregulated brokers don’t have any obligation to commit to terms set by regulatory bodies, and often use no deposit bonus as a way to attract new traders and get them to deposit actual money.
Check if the broker has been approved, certified and regulated by the right authority like FCA (UK), cysec (cyprus), ASIC (australia) or FSCA (south africa).
Without regulation, you cannot back up the legality of the broker or file any complaint against them in case of any bad practice by the broker.
Note: if you are looking for highly regulated & trusted brokers to start trading forex with low deposit, then you can check our list of best forex brokers in nigeria.
Don’t fall for big bonus amount, rather go for trusted platforms that have proven history of reputation over the years, among existing traders.
3. Read the reviews (both good & bad)
Most regulated forex brokers that offer good services in general are likely to offer transparent bonus offers as well. So if a good regulated forex broker is offering a bonus, then it is a no-brainer to go for it.
You should carefully read the reviews of other traders, and also talk to other traders if they have any experience with the broker that you are about to choose, before you choose any broker that offers no deposit bonus.
For example: XM forex is a reputed forex broker & it is also the #5 forex broker in nigeria as per our XM forex reviews by our experts & users. So the no deposit bonus by them is a perfect opportunity to start.
Check out the reviews, website and online reputation of the broker before trusting them, even in case of no deposit bonus. It is your time at stake.
4. Make informed decision (not just choose a broker with bonus)
Don’t be tempted by big bonuses, as some brokers that offer deposit bonuses may not be trustworthy or might be unregulated. In such a case, you risk wasting your time & effort.
Instead, base your decision on the broker’s reputation, and choose a broker that is regulated with multiple top-tier regulators & offers the right trading platforms and services. If a regulated broker is offering a deposit bonus, then you can trust it.
In every case, read the terms and conditions and be clear about the offers and promotions. You must remember that the no deposit bonus offered by brokers should only be used to gain trading experience & not some way to earn without spending.
Be consistent about your trading style, don’t be drawn in by large bonuses, and in the end carefully evaluate bonus terms and the broker.
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 no deposit bonus is regarded as a 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 bonus based on certain criteria.
Forex no deposit bonus is common practice in south africa, malaysia and indonesia but isn’t available to residents in the eurozone and united states. It incentivises 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.
10 best forex no deposit bonuses in south africa ( updated 2021 )
What does a no deposit bonus entail?
The forex no deposit bonus 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.
The ‘welcome bonus’ encourages new traders to open a live account with a broker and place more trades in a short period of time, while limiting their risk of losing their own money at the start.
After providing your name and email address to a broker, a real live trading account is opened. Some brokers require documents such as utility bills, ID or proof of residence to verify a live account. Some open an account with a no deposit bonus without verification.
Thereafter, ‘free money’ in the form of a no deposit bonus is deposited into the account. How much you receive depends on the broker’s promotional offering. It can be as high as $50.
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.
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.
Why do brokers offer a no deposit bonus? Well, it’s part of a broker’s long-term relationship to build a client’s confidence and experience live trading on multiple financial instruments while minimising risk in the early days of trading. New traders are more inclined to trade more often with ‘free money’ and gain invaluable experience before making a deposit with their own money.
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.
Most new traders begin their forex trading journey using a demo account. A no deposit bonus is the perfect incentive for beginners who want to practice trading forex with a real live account but are wary of using their own money.
New traders get the opportunity to actively engage in the forex market for a period of time and keep any profits made at the end. The no deposit bonus expires after 30 or 60 days, depending on the broker’s bonus conditions. This puts new traders under pressure to make full use of the ‘welcome bonus’ before it ceases to exist.
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 live account. They’re no onerous restrictions and are designed as much to protect you as themselves.
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.
- 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.
- 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.
- 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. The longer, the better so shop around for a broker who offers a ‘welcome bonus’ for a 60-day period. This gives you ample time to practices forex trading on a real live account.
- Hedging is not allowed
As a general rule, hedging is not allowed when trading on an account with a no 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 minimise risk in the forex market.
- 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.
Scalpers hold an open position for a very short time which is a good strategy to use in volatile market conditions. Many small pips can add up to a comfortable profit. The reason why brokers do not encourage scalping on a no deposit bonus account is because it can very quickly deplete the funds in the account.
- Leverage is limited
Leverage is usually limited on an 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. It lowers the trading volume and increases the amount of trades a new forex broker must make to realise a decent profit, if only using the no deposit bonus amount in the account.
- 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 analysing forex market conditions using indicators.
What happens to profits made trading with a no deposit bonus?
One would think that the brokers would take any profits made on a new account with a no deposit bonus, but here’s the good news; you 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. You’ll have had enough time to decide if you have an appetite for the risk involved in forex trading and can either continue to trade or you can withdraw the money and call it quits.
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.
Top 10 forex brokers in south africa : who offers a no deposit bonus
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.
No deposit forex bonus brokers - 2020
No deposit forex bonus is one of the most desired forex bonus and promotions by forex traders because you can trade without depositing your own money. Forex brokers offer many types of bonus and promotions to attract more clients or to reward the clients for choosing them as their broker. Free forex bonus and promotions certainly benefit the clients since they allow the clients to trade with a larger balance than they have deposited.
What about forex no deposit bonus 2020?
Of course, I am assuming that the broker is not a scam. Because, there are tons of scam brokers out there who allure novice traders through attractive bonuses just to fraud them at the end by rigging the trading conditions or simply pocketing the client’s deposit.
Therefore, free forex bonus and promotions should not be your only criteria when choosing a forex broker. Regulation, trading conditions, reputation and customer services are some of the other features that every trader has to take into account on the road to pick a suitable forex broker for yourself.
What is no deposit forex bonus?
There are many forex bonuses offered by brokers, some of them being granted to the traders post-trading, and others being rewarded to the trader’s forex account conditional on a certain amount of deposit or trading checkpoints. Deposit bonus, welcome bonus, redeposit bonus, rescue bonus and volume bonus are examples for different types of forex bonuses.
In addition to those, there is another type of free forex bonus. This forex bonus is credited to the trader’s account without any initial deposit or other condition whatsoever. Well, of course there is one condition; opening a forex account with the broker. As soon as you open the trading account, you will be rewarded with a free bonus. This type of forex bonus is called no deposit forex bonus.
No deposit free forex bonus brokers in 2020
Why is no deposit free forex bonus important?
No deposit free forex bonus is a great opportunity for beginner traders to gain experience without risking their real money. Besides, it allows seasoned traders to evaluate the services and live trading conditions provided by the broker before depositing money into their trading account.
Since it is not your own money, it will not hurt you financially and emotionally in case you blow up the account. The bonus is also very useful for traders who wish to develop and test new trading strategies without investing and risking their capital.
It is a common exercise followed by the forex brokers to provide different trading conditions in terms of spread, execution time and slippage between demo and live trading accounts. Therefore, trading with a demo account may mislead traders regarding the trading conditions that come with a live account. No deposit forex bonus allows traders to experience a live trading environment with the actual conditions.
How to choose the best free forex bonus?
It is never an easy task to choose a forex broker. I always emphasize the inappropriateness of choosing a forex broker solely due to the appealing free bonus and promotions. Never pick a forex broker just because it gives you a higher percentage of free bonus than the other brokers do.
- Prefer a regulated forex broker
Regulation must be the first and foremost quality of a forex broker that you are going to trade with. You should always put regulation and license above all else when selecting a forex broker. I don’t recommend openening an account with an unregulated forex broker no matter how good the bonus and promotions are offered. After all, what is the use of a free $5000 bonus if you will not be able to withdraw your capital from the forex broker?
Another point to keep in mind is that many unregulated or poorly regulated forex brokers use free forex bonuses as a tool to attract more clients just to fraud them. Those are the scam forex brokers that you have to stay away from no matter how big bonus and promotions they pledge.
- Consider the trading conditions
Spreads, execution time and slippage are going to have a decisive impact on the fate of your trading strategy. Free forex bonus and promotions are very alluring however the trading conditions may be against your advantage just to strip you off the benefits of the bonus. In another word, the brokers may give you the bonus but may not let you benefit from it through adverse spreads, execution time and slippage.
- Read and understand the terms and conditions
Forex bonus and promotions usually come with certain terms and conditions. Some forex brokers let you enjoy the free bonus without verifying your trading account while some others require you to validate your account first. Some forex brokers even allow you to withdraw the free bonus conditioned on certain prerequisites.
Therefore, it is always a good idea to read and understand the terms and conditions of the no deposit bonus to avert an unpleasant surprise afterwards.
Forex racer
Forex no deposit bonus
The best free forex no-deposit bonuses 2019
Make money in forex without investment
People say that the number one rule of financial trading is that you need a good deal of investment to start. That is no longer true. You can start trading in the forex market with as little as 100 dollars on a part-time basis. The key is to only make trades when you get a profit. If you know the market and study forecast accurately you can make a good steady income even with a small initial investment. Another good way to make money without investment is through a no-deposit forex bonus account. These accounts allow you to trade without investing your own money and still create a regular income stream.
What is a no-deposit bonus?
Whether you are just entering the forex markets or planning to trade in currencies in the future, the no-deposit bonus can help you set up nice and easy. It is the key to understanding the forex without risking any of your own, hard-earned money. If you discover that you have a knack for forex trading and are a natural at it, you can invest your own money and take up forex trading full time. If your trades don’t go as well as you hope, or you realize that forex trading just isn’t for you, you can just close the account without paying anything. No loss, no gain.
The popularity of no-deposit forex bonus
Forex trading platforms are always coming up with new incentives and ways to attract investors to their platforms. They have tried the virtual currency accounts and zero-fee for a month’s accounts. However, the no-deposit forex accounts gained more popularity than any other incentives. No-deposit forex bonus accounts are aimed specifically at new investors who lack experience of the currency markets. They also attract investors who have the time to research markets, but can’t spare enough funds to really get into forex. The no-deposits bonus accounts allow investors to make a significant amount of money with virtually zero risks. This is precisely what makes them better than any other type of incentives.
The risks in forex trading
Forex is a risky investment market that is not meant for people who cannot handle losses. There are millions of individual, retail and institutional traders trading daily in the forex market but only a handful of traders actually find success. Beginners can use demo trading, and it does help them understand the risks in the market. However, demo trading does not replicate the real-life emotions and risks of live forex trading. Many people turn apprehensive when they switch to real trading from demo accounts which affect their trading tactics. New traders are often unwilling to make trades because they don’t want to take the risk. This is where a forex no-deposit bonus can be useful. It works for both amateurs and more experienced traders. The no-deposit bonuses are in high demand in the FX market, but there are only a few online brokers that actually offer this facility for new accounts. Let’s take a closer look at how no-deposit bonus accounts work, and which platforms currently offer the best no-deposit forex trading in the market.
How do forex no-deposit accounts work?
Traditional forex accounts require you to deposit a sum of money into the account before you can start trading. The minimum balance can be $500, $1,000 or $5,000 depending on the broker. Once an investor has deposited the balance, the broker makes a commission on every trade that’s carried out through that account. This commission is the main source of income for the broker. In this type of traditional account, the depositor bears all the risk while the broker is guaranteed a return through commission. In no-deposit bonus accounts, the investor is not required to make an initial deposit and receives a bonus amount from the broker. This balance can be used for trading normally as if the investor deposited the money. You can also withdraw the balance without verification under the terms of the broker. If the depositor makes a profit through their trades, it belongs entirely to them. If they make a significant loss and lose all the initial deposit, they don’t have to pay anything. The broker bears the trading loss. The broker still collects a commission on the transactions which can compensate some of the costs for giving out the initial bonus to depositors.
Why forex brokers offer no-deposit bonus?
It is evident from the model that brokers have everything to lose from the no-deposit bonus and very little to gain. If a new investor makes risky trades for a greater return and the bet pays off, they can increase their balance significantly. If the bet fails, the broker bears the cost and they walk away without losing anything. So why do brokers offer the no-deposit bonus? There are two main reasons. The first is from a marketing perspective. Brokers that offer a no-deposit bonus usually get higher visibility on broker comparison platforms. No-deposit bonus is a huge attraction for both new and seasoned traders. The bonus brings more traders to the broker’s platform and increases their earning potential compared to its competitors. The second reason is that of all the traders that invest through the broker, some win and some lose. Brokers hopes that the big winners will continue trading through the platform while earning them commission in the process. People who win the first few trades are also likely to deposit their own funds into the accounts to scale their winnings.
Best no deposit bonus forex brokers 2021
Forex trading can offer opportunity to make good income if you have enough trading experience. But there is an obligation to deposit funds in your trading account with the broker, before you can start trading live.
But this is not the case with no deposit bonus offered by brokers!
Usually you may be unable to start because of limited funds, or you may want to test out your strategy on live before trading with actual money. The no deposit bonus can help in this case.
The no deposit bonus is a promotion by forex brokers where they offer free starting capital into the forex trader’s account, without any initial deposit.
But you still must be cautious in choosing a broker that offers no deposit bonus or any similar promos. We have done the research on the brokers that are currently offering bonus to traders from nigeria.
Best no deposit bonus forex brokers in nigeria in 2021
There are a few forex brokers that offer sign up bonus without any deposit.
5 best no deposit bonus forex brokers
We looked into all the brokers that offer no deposit bonus to nigerian traders, and then we hand-picked the few popular ones.
Let’s start by comparing the bonus & the terms to avail the bonus for 4 brokers in our list!
1) $30 bonus by XM:
Overall rating 9/10
XM is in our recommended forex broker list
Globally acclaimed XM is a broker regulated by cysec, FCA, IFSC, ASIC among others. It’s a global trading platform that offers a US $30 no deposit bonus to first-time clients who open a real trading account.
How to avail $30 XM forex bonus:
1) open trading account: to avail this bonus, traders must open a real trading account with XM. You can easily open it from here.
2) verify account: log in to the member’s area to validate the credentials sent via email. Then, traders must provide documentation for identification and account validation. SMS phone verification must then be carried out.
3) credit bonus: following this, the bonus is credited to the live account, ready for trading. The bonus is only available till you lose it or withdraw profits from the account.Post email and SMS confirmation, the user can confirm the transaction and log into the system.
An MT4 ID is assigned as a username while logging into the platform.
Bonus terms and conditions at XM forex
- Bonuses cannot be withdrawn.
- The bonus account can only be opened by new XM clients.
- Profits generated can be proportionally withdrawn as per provisions of XM any time.
- Bonuses cannot be activated for more than a single XM trading account.
- If the trading account is not active, the bonus is removed.
- Trading bonuses are not available for EU and UK clients, as the CYSEC and FCA regulated broker cannot offer this for traders from these countries. Clients registered under trading point of financial instruments UK limited and trading point of financial instruments limited cannot avail this bonus offer, therefore. Additionally, the bonus can be availed only once per IP address or household.
- The bonus is available within a 30 day period of signing up with XM only.
- XM permits trading activities of all kinds except arbitrage.
2) $100 bonus by FBS:
Not listed in our best forex brokers list
FBS is a cysec and IFSC regulated broker that offers the highest bonus. It is currently running multiple bonus offers, each with different amounts and rules. One of their most popular no deposit bonus offers is the trade 100 bonus, where you can get $100 of free funding.
How to avail $100 bonus at FBS?
To get the US $100 bonus, take the following steps:
1) register: the first step is to register and open a bonus account.
2) verify your account & get credited: you need to verify your account with FBS. Once your account is verified, your account will be credited automatically with the bonus fund.
3) start trading: you must use the MT5 account for placing trades for 30 days. And you must fulfil the conditions set by FBS before you can withdraw any profits made with the bonus.
Bonus terms at FBS:
- You cannot withdraw the bonus, but you can withdraw the profits that you make, once the conditions are met.
- Maximum leverage that you can use during trading with the bonus is 1: 500.
- Further, the bonus can only be claimed once by new traders only.
- Profit generated from trading with the bonus funds can only be withdrawn after 5 lots are traded, and $100 in profits or more are reached.
- Bonus is cancelled once the first withdrawal is made.
3) $500 bonus by instaforex
Not listed in our best forex brokers list
Instaforex is another broker that offers no deposit bonus. Their promotional bonus is called the start up. They don’t require any verification to avail the bonus, but you have to make an initial deposit before you can withdraw the profits.
Note: instaforex is not in our recommended forex broker list for 2019, hence we don’t recommend them. If you are choosing to avail their no deposit bonus, please do so at your own risk.
How to avail $500 bonus at instaforex?
1) open a trading account: to avail the benefit of signup bonus you need to open a trading account at instaforex.
2) verify account & get bonus: the bonus can then be claimed after verifying your account.
Bonus terms at instaforex:
- The new deposit bonus is available to new clients only.
- You don’t have to offer documents for account verification to receive the startup bonus.
- You can only withdraw the profit only once you deposit funds to your account. You have to deposit $50 to withdraw the bonus.
- The bonus profits available for withdrawal cannot exceed US $50.
- The bonus does not extend to instaforex cent accounts.
4) $10 bonus by fxopen
Not listed in our best forex brokers list
Fxopen is a regulated forex broker. They have been offering $10 signup bonus with theit STP account for some time now & it is available to nigerian traders as well.
How to get the $10 bonus at fxopen
1) open the STP account: the first step is to open the STP account at fxopen.
2) verify your account: the next step is to verify the account via SMS.
3) get bonus: following this, the bonus is automatically credited to the STP account. For availing this bonus, you must register an fxopen ewallet.
The bonus will be automatically added to the first STP account new traders open.
Fxopen bonus terms:
- Fxopen offers the US $10 no deposit bonus for STP forex trading accounts.
- While the bonus is received for free without any deposits, the conditions of the promotion must be met.
- $10 bonus amount is only for STP account holders to trade. It cannot be withdrawn.
- The maximum leverage allowed is 1:500. The bonus is credited directly to the trading account.
Common rules by no deposit bonus brokers
First you must understand that the bonus is for trading purposes only. It should be used as a way to practice in the live trading environment, and you should not see it as free cash.
Usually, there are some common rules (which you must know) set by all the no deposit bonus forex brokers:
1. You cannot withdraw the bonus but you can withdraw the profits you make while trading with that bonus.
2. You must trade a minimum number of lots for the required period until the broker’s terms are met.
3. You cannot claim the bonus in multiple trading accounts.
4. There may be other terms set by the broker, and you should check it out first before choosing any no deposit bonus broker.
How to choose a no deposit bonus forex broker?
We have prepared this list on few important points that you must consider before claiming bonus with any broker.
When it comes to no deposit bonuses, you need to consider the following factors:
1. Read the terms carefully (don’t just skim them)
Just because you not depositing any money to trade, doesn’t mean that you should choose any broker that offers bonus. Some brokers will lure you with extravagant bonus offers, but their withdrawal terms are very shady & bad, often requiring you to make deposits before you can withdraw any profits made with the bonus.
For example: instaforex requires you to make a deposit before you can withdraw any profits made with the bonus. This is not a favorable term. Even XM requires certain level of trading activity in terms of volume traded before you can withdraw any profits made via trading the bonus.
So make sure to read the terms carefully before choosing any broker for no deposit bonus. If there is something you are unsure about, don’t be shy to contact the broker’s support.
2. Always check the broker’s regulations
Unregulated brokers don’t have any obligation to commit to terms set by regulatory bodies, and often use no deposit bonus as a way to attract new traders and get them to deposit actual money.
Check if the broker has been approved, certified and regulated by the right authority like FCA (UK), cysec (cyprus), ASIC (australia) or FSCA (south africa).
Without regulation, you cannot back up the legality of the broker or file any complaint against them in case of any bad practice by the broker.
Note: if you are looking for highly regulated & trusted brokers to start trading forex with low deposit, then you can check our list of best forex brokers in nigeria.
Don’t fall for big bonus amount, rather go for trusted platforms that have proven history of reputation over the years, among existing traders.
3. Read the reviews (both good & bad)
Most regulated forex brokers that offer good services in general are likely to offer transparent bonus offers as well. So if a good regulated forex broker is offering a bonus, then it is a no-brainer to go for it.
You should carefully read the reviews of other traders, and also talk to other traders if they have any experience with the broker that you are about to choose, before you choose any broker that offers no deposit bonus.
For example: XM forex is a reputed forex broker & it is also the #5 forex broker in nigeria as per our XM forex reviews by our experts & users. So the no deposit bonus by them is a perfect opportunity to start.
Check out the reviews, website and online reputation of the broker before trusting them, even in case of no deposit bonus. It is your time at stake.
4. Make informed decision (not just choose a broker with bonus)
Don’t be tempted by big bonuses, as some brokers that offer deposit bonuses may not be trustworthy or might be unregulated. In such a case, you risk wasting your time & effort.
Instead, base your decision on the broker’s reputation, and choose a broker that is regulated with multiple top-tier regulators & offers the right trading platforms and services. If a regulated broker is offering a deposit bonus, then you can trust it.
In every case, read the terms and conditions and be clear about the offers and promotions. You must remember that the no deposit bonus offered by brokers should only be used to gain trading experience & not some way to earn without spending.
Be consistent about your trading style, don’t be drawn in by large bonuses, and in the end carefully evaluate bonus terms and the broker.
So, let's see, what we have: brokers are now offering forex no deposit bonus that gives you a chance to test your trading skills without risking own money. Check the best forex bonuses and promotions. At best no deposit bonus forex
Contents
- Top forex bonus list
- Forex racer
- Forex no deposit bonus
- The best free forex no-deposit bonuses 2019
- Make money in forex without investment
- What is a no-deposit bonus?
- The risks in forex trading
- How do forex no-deposit accounts work?
- Why forex brokers offer no-deposit bonus?
- No deposit bonus forex
- Forex no deposit bonus lists with guidelines - 2021
- How to use a best no deposit bonus forex
- So, when you will start with a free bonus, you have to focus on these:
- Try something new and educative mind
- Expose what is the meaning of forex no deposit bonus. You gain a real forex trading account with...
- How free bonus is important?
- Terms and conditions for free forex bonuses
- Discover more about the free bonuses
- Is forex free bonus is a welcome bonus?
- Does forex broker give no deposit bonus without verification?
- Can I make money with a free bonus?
- What is the best thing in a free bonus?
- Conclusion
- No deposit forex bonus brokers - 2020
- What about forex no deposit bonus 2020?
- What is no deposit forex bonus?
- No deposit free forex bonus brokers in 2020
- Why is no deposit free forex bonus important?
- How to choose the best free forex bonus?
- Best no deposit bonus forex brokers 2021
- 5 best no deposit bonus forex brokers
- Common rules by no deposit bonus brokers
- How to choose a no deposit bonus forex broker?
- 1. Read the terms carefully (don’t just skim them)
- 2. Always check the broker’s regulations
- 3. Read the reviews (both good & bad)
- 4. Make informed decision (not just choose a broker with bonus)
- FOREX NO DEPOSIT BONUS
- 10 best forex no deposit bonuses in south africa ( updated 2021 )
- What does a no deposit bonus entail?
- Who qualifies for a no deposit bonus?
- Trading with a no deposit bonus
- Why do brokers offer a no deposit bonus?
- Restrictions on forex trading with a no deposit bonus
- What happens to profits made trading with a no deposit bonus?
- Top 10 forex brokers in south africa : who offers a no deposit bonus
- No deposit forex bonus brokers - 2020
- What about forex no deposit bonus 2020?
- What is no deposit forex bonus?
- No deposit free forex bonus brokers in 2020
- Why is no deposit free forex bonus important?
- How to choose the best free forex bonus?
- Forex racer
- Forex no deposit bonus
- The best free forex no-deposit bonuses 2019
- Make money in forex without investment
- What is a no-deposit bonus?
- The risks in forex trading
- How do forex no-deposit accounts work?
- Why forex brokers offer no-deposit bonus?
- Best no deposit bonus forex brokers 2021
- 5 best no deposit bonus forex brokers
- Common rules by no deposit bonus brokers
- How to choose a no deposit bonus forex broker?
- 1. Read the terms carefully (don’t just skim them)
- 2. Always check the broker’s regulations
- 3. Read the reviews (both good & bad)
- 4. Make informed decision (not just choose a broker with bonus)
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