Best no deposit bonus forex brokers

A typical turnover bonus format would be: trade X number of lots per calendar month, to receive Y amount of bonus money.

Top forex bonus list

Forex Bonus, best no deposit bonus forex brokers.

Brokers typically hand out such no deposit bonus deals with the goal of getting traders hooked on what they offer. The primary goal of every online forex broker is to “usher people in” and get them to start trading. No deposit bonuses are indeed very effective at meeting this objective.

Forex bonus

The forex bonus was once seen as the go-to promotional tool of online forex/CFD brokers. From no deposit bonuses, to rebates or a deposit match bonus, a new trader had a number of choices to boost their trading capital. Nowadays however, it has been relegated to the fringes of the industry, due to mounting regulatory pressure.

According to the provisions of mifid II for instance, brokers are no longer allowed to offer any sort of bonus incentives to their clients. Most regulators the world-over have adopted similar stances in this regard.

Still, some brokers continue to offer promotions in certain jurisdictions. Thus the forex bonus has remained part and parcel of the online forex ecosystem. So where can traders still get a welcome offer, and equally – should they take it?

Forex bonus offers january 11 2021

What is a forex bonus?

We can best define bonuses in forex as monetary incentives offered to clients, with the goal of encouraging them to perform a certain action. This action can be registration, the achievement of certain trading volumes, or any other objective set by the broker.

Strict conditions apply to most forex bonuses. Brokers set such conditions according to their own needs and preferences.

Typically, brokers aim their bonus deals at traders who deposit less than $5,000. Some forex bonuses can encourage over trading, or trading beyond a trader’s means.

It is therefore imperative that traders should understand all the terms and conditions that apply to a bonus, before accepting it.

Different types of forex bonuses

Over the years, forex brokers have been very creative with their incentives. Scores of different types of forex bonuses were created, promoted and optimised.

Forex bonuses are as diverse as the creative minds of those cooking them up allow them to be. That said, they can mostly be put into one category or another, based on some key features.

Some brokers hand out their forex bonus without requiring traders to make a deposit. Others might call for a deposit, but offer very lax bonus redemption conditions. Still others dangle attractive bonuses, but torpedo the deal through the fine print, hoping that the targeted clients won’t read through that.

No deposit bonus

Because of their no-strings-attached nature, no deposit forex bonuses are some of the most popular promotional deals. Traders and would-be traders love them, because they do not assume any risk through these bonuses.

Within their own little category, no deposit bonuses come in a few different variants. Some brokers effectively hand out free money. They do it in the hopes that traders hooked through this act will continue trading with real money and offset the cost.

Such brokers may view no deposit bonuses as effective, albeit rather steep, promotional expenses.

However, traders can never cash out most no deposit bonuses. Nor can they ever pocket any of the profits resulting from such bonuses. In such cases, the bonus deal is mostly a nominal one. Its sole purpose is to give traders a chance to take a risk-free “peek inside”.

They say that there are no free rides in life. This truth applies to no deposit bonuses, with scant exceptions. Always check the turnover requirements to see how realistic they are, and if profits can be withdrawn eventually.

Deposit bonus

Unlike a no deposit bonus, a deposit bonus requires the trader to transfer real money to his/her broker account. The broker then awards the bonus money in a manner proportional with the size of the deposit.

Given its mutually advantageous nature, the deposit bonus is usually a much more serious deal than a no-deposit one.

At face value, it is supposed to complement the ability of the trader to invest. Brokers who adhere to this approach might tie their deposit bonuses to certain conditions. But they do not aim to make it impossible for traders to withdraw these bonuses.

At the other end of the spectrum, brokers abuse such bonuses. By setting impossible-to-fulfill redemption requirements, they often tie up the trader’s actual deposit with the bonus money.

This is yet another reason why you should always choose your forex bonus from a trusted source. Strong regulation is often enough to ensure bonus deals are marketed correctly.

Welcome bonus

The peculiarity of this bonus type is that it is only available to newly registered clients. Beyond that, it can take any shape. It can be a no-deposit bonus, a deposit “match” bonus, or turn-over bonus, etc.

Welcome bonuses are typically only available once per household. If you have had an account with a broker for some time, you can forget about picking up a welcome bonus.

Turnover bonus

A turnover bonus directly rewards trading activity and volume. As such, it is one of the pet peeves of regulators everywhere. It directly encourages clients to trade more.

A typical turnover bonus format would be: trade X number of lots per calendar month, to receive Y amount of bonus money.

Since turnover bonuses require traders to “do the work” upfront, they are often transferred to trader’s accounts without any strings tying them.

Pending bonus

A pending bonus offers the trader a bonus once they meet a particular milestone. This might be trade volume or deposit totals etc. Again, the terms and conditions are crucial, particularly in the milestones must be met within a certain time frame.

Reload bonus

Unlike a welcome bonus, a reload forex bonus is aimed at existing clients of a brokerage. It is awarded to those who reload their account balances through subsequent deposits.

Reload bonuses have drawn the ire of the regulators because they directly encourage traders to deposit more money.

Reload bonuses are like a poor man’s first deposit bonus. Their sizes are usually smaller and their redemption requirements may be steeper. Often, they are nothing more than a downsized version of a deposit bonus.

Tradable bonus

A tradable bonus becomes part of one’s full tradable balance as soon as awarded. This type of bonus can be traded and lost.

Attached conditions may make it impossible for traders to withdraw profits incurred through the tradable bonus however. Since it is difficult to keep track of which profit came from which invested funds, it may not be simple for traders to know where they are with the bonus.

When working as intended though, forex tradable bonuses are among the best bonuses one can get.

Rebates

Forex brokerage clients pay the broker for the services it renders, through spreads and/or commissions.

Such expenses cut right into one’s profit margins. Some brokers offer rebates on commissions and spreads, provided the trader fulfills certain (usually trading volume-related) requirements.

While apparently fair and quite attractive, rebates encourage increased trading volumes too. As such, they present yet another problem from a regulatory perspective.

Forex gifts

Forex brokers reserve the right to give certain clients gifts. Such gifts range from various gadgets to event tickets and indeed: special bonuses. The broker has even more freedom to set the terms associated with such gifts than with regular bonuses.

It can award them as contest prizes, for trading volume achievements or as the result of random draws.

Forex freebies

Freebies other than actual forex bonuses can add a great deal of value to the services of a forex broker. This category covers a wide range of benefits, such as demo trading contests, live contests, raffle draws, and various prize-bonuses.

Education packages (webinars, video libraries, live seminars) are also in this category.
Serious and well established brokerages offer free VPS services to clients they deem worthy. Usually, trading volumes are instrumental in determining who gains access to such a service.

In some cases, intricate, multi-tiered VPS services are offered, mostly from third-party providers.

Brokers also make use of third party signal services, to offer their traders yet another non-monetary incentive.

Obviously, the best services in every category go to those who log trading volumes that the broker deems significant.

Refer-a-friend bonuses reward existing traders who convince their friends to join the broker. The deals are set up to be beneficial for all parties concerned, though – as any other bonus deal – they do leave some room for abuse.

How to find the best forex bonuses

Finding the best forex bonus is a matter of common sense and some research.

Start by locating a serious and trusted source for bonus information and comparison.

This can be more challenging than simply running a search for “best forex bonus”, “forex bonus deals” or some other related keyword.

You need independent forex bonus comparison and appraisal. Reviews from most dedicated forex portals are unreliable.

Your best bet is a page like this one, coupled with feedback left by actual traders. Never underestimate the power of the community when it comes to shedding light on the finer details of various forex bonus deals.

Typical forex bonus conditions

After everything has been said and done, take time to read into the fine print. Here’s what the terms attached to a typical forex bonus look like:

– your first step is to register an account. Fill out the forms and complete the confirmation procedure.

– make sure you opt for the account type that supports the bonus that you want.

– some brokers issue bonuses automatically. Most of the time however, you will have to request it manually.

– you request your $100 welcome bonus (for example), on an MT4 classic account. You are aware that you will have to generate a turnover of $10,000,000 to withdraw it.

– understanding turnover. While $10 million may seem like a very steep requirement for a $100 bonus, it is in fact quite reasonable. Both the opening and closing of your position counts towards the turnover.

If you buy 1 lot of EUR/USD at X price and sell it at Y price, your turnover will be (100,000*x)+(1,000,000*y). That will make more than $200,000 on that position alone.
Tossing leverage into the equation, that $10 million does not seem a distant objective at all. Profits and losses do not count towards turnover in any way.

– make sure you understand the validity of your bonus. It may be valid for an undetermined amount of time, or the broker may decide to impose a limit (a few months, a year) in this regard.

– have your bonus added to your regular balance and withdraw it.

Regulators and forex bonuses

Beginning with july 30, 2018, the european securities and markets authority (ESMA) has banned all forms of forex bonuses and gratuities. Brokers regulated under different jurisdictions may still offer such deals.

Thus, mifid II was born, ushering in a host of strict regulatory requirements aimed at reining in rogue FX operators.

Forex bonuses were not the only variable addressed. ESMA also banned binary options, limited leverage and made the displaying of risk warnings mandatory on all FX websites.

By banning forex gratuities in particular, ESMA aimed to prevent new traders from being suckered into trading. By eliminating this ruthlessly efficient promotion tool from the arsenal of FX operators, the regulator has indeed succeeded in making potential beginners think twice about coughing up their money.

Conclusion

Forex bonuses and gratuities are illegal in EU-regulated jurisdictions. The US markets are mostly off-limits to brokers, so there is not much going on bonus-wise there either.

Keep that in mind when looking for a lucrative FX bonus. The broker that can give you what you’re looking for is likely an offshore operator, with a shoddy regulatory background.

Best no deposit bonus forex brokers

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Forex recent information

Forex featured brokers

Forex is the most popular currency exchange market. It becoming more popular day by day. Currently averaged $6.6 trillion currency traded per day from april 2019.

But, this industry is technical and more professional. So, to make it interesting and easy forex broker offers bonuses and contests for traders.

At forexnewbonus.Com we published all types of bonuses and contests. Here you will get all the latest forex news, bonuses, contests, broker comparison, guide, etc. Mostly forex no deposit bonus and forex deposit bonus.

What is forex no deposit bonus?

Forex broker offers no deposit bonus to start live trading free. This bonus is completely free, broker provides free credit to a live trading account.

You can trade currencies, cfds, stock, indices, metals, gold, silver, oil, commodity, and more. This is a very good opportunity to risk free trading.

What is forex deposit bonus?

Very interesting bonus from brokers. You will fund your account for trading and the broker will give you some free money to enjoy it. This bonus increase trading funds and leverage.

All deposit bonuses are tradable as the offer conditions. Sometimes broker offers deposit bonus include loyalty VIP bonus.

How to find the best forex bonus?

Finding the best bonuses is important for traders. You can visit on the web, read reviews and broker platforms. But this is difficult, so we made it easy for traders.

To finding the best bonus check our website regularly. We publish new and a lot of bonuses offered by brokers.

Bonus $123

Bonus $123 — for an ultimate start on the forex market

Requirements

Notice! Welcome bonus $123 is not available anymore.

The new bonus is available!

Hooray, the new bonus is here! Get it and start your trading journey.

To start trading with FBS is as simple as to count to one-two-three!

Great achievements are easier to obtain with a little help from someone who cares. Do you want to find out how much can you trade in a week? We want to give you a chance to try your hand and make your first steps in trading with FBS as smooth as possible – so we credit you a bonus of $123!

For this bonus you need no verification or contact details! Just open a bonus account , and $123 will be credited to it automatically. From that moment you have exactly 7 days to trade and earn as much as you can – take full advantage of this week! You can’t execute any financial operations while using this bonus – no withdrawals, deposits or transfers, just concentrate on trading and getting to know the market and FBS platform.

After the week ends, the account balance will go to zero, but don’t worry, you don’t lose a single dollar of your profit. You account turns into “standard” and the whole profit you’ve made is recorded in the promotion zone in your personal area.

The time during which you can use this money is unlimited – there’s only one condition. You can withdraw money from your promotion account every month according to the numbers of lots you traded multiplied by three. It’s easy: for example, to withdraw 150$ from your profit amount you need to trade 50 lots in one month. After this, you can either withdraw money or transfer it to your trading account to trade more.

This bonus is a great opportunity for all the beginner traders to see what trading with FBS is all about. No initial investments or special verifications – just register a bonus account, request your $123 and explore our trading platform and market!

Experienced traders can use this bonus to get to know FBS as a broker company better – plus, some additional investments to boost your trading can always be useful. Use extra $123 to explore FBS, use different trading instruments, give a try to our trading platform and see how easy and comfortable trading with FBS is!

Register a bonus account now, get your $123 welcome bonus and start your road to the market success with a reliable broker!

Check out the full list of terms and conditions in the personal area

Company get the best advice on forex no deposit bonus

Employ these stockpicking suggestions to find groups the greatest markets and business groupings while investing in shares. Please possess a good shop around our website, you'll also find lots of quite beneficial forex brokers rating trading instructions and for we're continually changing it with an increase of forex trading reviews-related information and news articles. Security is normally based on the credibility, which would be manifested from the seal of the fx regulatory body of a company a nation holds. In the forex broker comparison list, view by looking at critiques from boards and evaluation websites which suits your considerations and additional research on it. Metatrader brokers are those forex brokers who provide the 4 (MT4) podium with their consumers.

You are able to consider most of the features of a fully functional variation of testing programs, use analysis resources and entry technical maps not to merely obtain an in-depth understanding of currency trading, but in addition to determine if the application software is straightforward to utilize and meets your needs. As soon as you take the action to a normal account, mastering how to acquire via a trading e mini forex brokers in pakistan account can make you successful. They could be broadly labeled directly into two form of strategies are profit maximizing risk and strategies minimizing techniques.

Those were some essential sides to forex trading south africa currency trading that is effective that you need to recall often. Sign up for the free ecourse on forex trading of john eather maintain currently with all the newest information concerning automated trading. This is meant to lessen your trading fees and exploiting trades' winning percentage. With this particular end-of-day trading process, you are able to deal differing crosses and six currency frames like AUDUSD, GBPUSD, EURJPY, EURUSD and USDCHF. Once you have created several effective deals in AROW, you can start trading reside.

Presume he moves long with all the dollar at $1.25 and the exchange-rate increases to $1.30. The dealer makes a profit since he gets 1.30 for each $1.25 of currency he bought to start with. A normal training bill enables you to utilize the trading system in the site to deal a fictional account for 30 days. Another guide will tell you that you should also consider some completely different indicators aswell.

Within the stockmarket, the arbitrage trading method is by using numerous investment deals as buying and selling paths. The fundamental technique using the help which the currency can be bought and marketed is easy. Purchase a currency that fees USD per unit, and market it for a currency that needs a good lesser USD per unit. This is exceptionally more difficult since it entails a rigorous review of the forex brokers list in india brokers list; simply click the following page, market than it appears. Well, the fact remains that there surely is plenty more to it than just randomly exchanging currency.

XM sign up bonus review south africa – revealed ( 2021 )

XM sign up bonus

A first time XM sign up bonus of $30 is offered by XM.

Traders who register a real account with XM are offered first time sign up bonus which is equivalent to that of a no deposit bonus.

The first time sign up is not subjected to any prior deposits and serves as a welcome bonus as well, and the $30 is automatically credited to the account of the trader. Although, traders should be aware that the deposit itself cannot be withdrawn.

Should traders make any profits on the bonus amount, the profits can be withdrawn at any time.

Traders should see this bonus as a start-up boost to start trading before investing their own capital, but traders should acknowledge that it might be lower than margin requirements on some trades.

The purpose of this bonus is to provide traders with a demo-account type of experience but with the added advantage that it is applied to a real account and it does not require any additional sign-up apart from real account registration.

This deposit is only available to new clients who have not previously registered a real account with XM, or whose information is not contained on XM’s data base in addition to the registering of a demo account not being eligible for this bonus.

In addition, traders who register a XM ultra low account will not be considered eligible either. Fortunately, XM has an array of other accounts that traders can register for that will be considered eligible.

In addition, XM also provides traders with a 100% deposit bonus of up to $500 along with an additional 20% deposit bonus, with a cumulative amount of maximum $4,500 or currency equivalent.

Brokers often offer these broker bonuses to new traders in an effort to draw in more customers in addition to encouraging trading activities. These bonuses are some of the best ways in which to assure traders that they will receive some cash back.

Bonuses such as these also serve as extra credit that traders can use to trade without risking their own funds and of which the profits, not the actual bonus, can be withdrawn.

This is an imperative notion for brokers as traders are more likely to register a real account with brokers that offer such bonuses as it helps increase the chance of gains without putting traders at more risk to lose their own capital.

Referral bonus

XM does not currently offer referral bonuses to new or existing traders who make use of the products and services offered by XM.

Referral bonuses are offered by brokers to traders in an attempt to draw in new clients and expand their customer base.

Often these types of bonuses have strict criteria that will have to be fulfilled before the trader can benefit from referring a friend or family member.

Some of the criteria includes, but is not limited to:

The referral has to register a real account with the broker using a unique referral link so that the registration can be traced back to the trader.

The referral bonus is only applicable should referrals register a real account as these bonuses are not available when using a demo account.

A certain minimum deposit amount has to be made by the referral.

The referral may be required to execute a certain number of trades on the new account before the trader becomes eligible to receive the referral bonus

Referral bonuses may also have a limited time in which they can be utilized by traders, perhaps in a given month that brokers see a decrease in activity and attempts to counter it by providing such bonuses.

Additional broker bonuses, promotions and rewards

XM offers trading bonuses to active traders and loyal customers through the XM loyalty program where traders are rewarded with special seasonal bonuses during specific calendar events and occasions.

In addition, XM provides traders with an additional 10-year anniversary promotion to the value of $1,000,000 where a random account will be chosen every month, providing traders with the chance of winning various prizes until 30 june 2021.

The lucky draw consists of a $80,000 prize pool and a total of 50 winners per month. To sign up for the draw, traders will have to adhere to the following criteria:

The trader will have to be in possession of a MT4 or MT5 real account which has been validated through the relevant channels, and

There must be a $500, or currency equivalent, account balance in the trader’s account.

There have already been numerous winners as follows:

1 winner of $10,000

1 winner of $8,000

1 winner of $7,000

1 winner of $6,000

1 winner of $4,000

10 winners of $2,000

15 winners of $1,000, and

20 winners of $200.

The funds that these traders have won are credited either in USD, or currency equivalent, to their XM MT 4 and/or MT5 live, and active, trading accounts.

Pros and cons

PROS	CONS
1. First time sign up bonus provided which serves as a welcome bonus and no deposit bonus	1. No referral bonus offered
2. Trading bonuses offered through XM loyalty program for active traders and loyal customers

Conclusion

XM caters extensively and comprehensively for new traders who register a real account, existing traders, and loyal customers through its array of bonuses and rewards in addition with its competitive trading conditions.

These trading bonuses offer traders a chance to use the funds credited to their accounts as a boost for trading as the funds cannot be withdrawn, but the profit made from it can be withdrawn.

Brokers who offer such bonuses often see an influx in new traders registering for real accounts eligible for the bonus and it is the best way through which brokers can expand their client base in addition to increasing trading volumes.

Such bonuses, especially trading bonuses, ensure that there is constant trading volume, in addition to increases during times when these bonuses are active, and it is the best way through which loyal customers and active traders can be rewarded. XM offers some of the lowest spreads and fees.

Best no deposit forex brokers

rank	broker name	trust score	bonus*	reviews
1	instaforex	80 / 100	100	instaforex reviews
2	XM	99 / 100	30	XM reviews
3	plus500	89 / 100	30	plus500 reviews
4	xtrade	94 / 100	55	xtrade reviews
5	markets.Com	98 / 100	25	markets.Com reviews

*bonus amounts may be adjusted to your local currency and may either be different or not be available for some countries

The above table contains the top ranked forex brokers in our database for opening a no deposit account.

What is a no deposit forex account?

Whilst almost every broker provides demo accounts with virtual currency, you might want the feeling of trading real money. Some brokers offer a cash bonus into your account without you needing to make a deposit with your own money.

Generally, these amounts are low – around $30 to $50 so you can only trade micro or mini lots and the bonuses come with terms and conditions but nonetheless they are free as they say. We have assessed the brokers in our database to score them in the following categories:

No deposit bonus amount – how much they provide for free without a deposit

Terms & conditions – how strict the terms and conditions are for withdrawing

Currency pairs – the number of currency pairs available to trade

Spreads – how low the spreads are for major currency pairs compared to other accounts

$50 no deposit bonus forex

Get our $50 no deposit bonus forex and start your forex trading career. Try our award-winning platform for free on any device and develop your trading skills.

FREE $50 WELCOME BONUS - AM broker gives you free money to start your forex journey and trade real

BOOST YOUR SKILLS - besides $50 you get a full set of educational materials and trading strategies

START WITHOUT DEPOSIT - learn how to trade and make a living out of it with a trusted forex broker

How to get the 50$ forex no deposit bonus?

Step 1: sign up

Just enter your details into the fields of our online form and click ‘submit’. Once email is confirmed you will be able to access the trader's room.

Step 2: open real account

Click on create an account, select real account, leverage 1:500 and USD as currency. You will receive an email with the credentials: login and password.

Step 3: upload documents

Fill out your personal profile and upload the required documents: ID copy, bank book and proof of residence.

Step 4: activate your account

Deposit a minimum of $10 to activate a real trading account and be eligible for the promotion.

Step 5: claim your bonus

Click on "promo codes" and type in "WELCOME 50" to be eligible for the no deposit forex bonus limited campaign. Click on "claim your bonus" to activate the campaign and the 50$ welcome bonus will be visible in your live trading account.

Step 6: start trading

Access the trading account from any device with metatrader 5 for desktop, web and mobile and start trading. The maximum profit you can withdraw is 100$. Good luck and happy trading!

Forex no deposit bonus faqs

This promotion gives new client a chance to test our trading conditions (execution, spreads, work of the trading platform) on the real account (on the real trade server). If the client likes trading conditions, he/she can fund account and continue trading with us.

As an international company, AM broker respects the anti-money laundering (AML), meaning that clients can not receive funds without depositing funds previously. Allowing profit withdrawals from free money offerings may put ourself and our clients at risk. Clients have to make an extra $10 deposit to be able to get the welcome bonus and withdraw funds according to the AML policy.

You can easily add more funds to your real accounts by logging in to AM broker trader’s room. Once you log in to trader’s room, click the deposit button and select one of the multiple options available with AM broker.

The no deposit forex bonus can be used by the client in trading operations without any restrictions. You can use automated trading or scalping techniques, any trading method is allowed with AM broker

You can receive a no deposit forex bonus only once. It is an welcome bonus. However, you can get a new type of bonus for any of your new deposits with AM broker.

You can get up to 25% bonus at deposit and 12% fixed annual interest for your next deposits at your wish. Just choose the suitable campaing, make a deposit and claim your new bonus.

If you forgot your username, please contact us for assistance. If you forgot your password, please go to trader’s room to reset your password.

Your country may not be suitable for a no deposit bonus forex or you have not followed the steps above. Please contact us via chat, email or phone for step-by-step guidance to get started with your $50 no deposit bonus forex 2020

Yes, the no deposit bonus forex will expire at the end of 2020. Follow our website for more details about the no deposit bonus campaign and other types of deposit bonus we offer.

Trading
- Trading
- Accounts
- Demo trading
- Margin requirments
- Trading platform
- Web trading
- Android trading app
- Ios trading app

Markets
- Markets
- Forex
- Indices
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Resources
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- Robo advisor
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Other
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- Fixed annual bonus
- Bonus at deposit
- About us
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- Support center

Cfds are complex financial instruments traded on margin. Trading cfds carries a high level of risk and may not be suitable for all investors. Please ensure that you understand the risks involved as you may lose all your invested capital. Past performance of cfds is not a reliable indicator of future performance. Most cfds have no set maturity date and a CFD position matures on the date an open position is closed. Please read our ‘risk disclosure notice’. When trading cfds with AM globe services LTD, you are merely trading on the outcome of a financial instrument and therefore do not take delivery of any underlying instrument, nor are you entitled to any dividends payable or any other benefits related to the same.

AM globe services ltd. Is the holding company of AM broker.

AM globe services ltd, the financial services center, stoney ground, kingstown, st. Vincent and the grenadines is incorporated under registered number 24863 IBC 2018 by the registrar of international business companies, registered by the financial services authority of saint vincent and the grenadines.

AM glober services ltd reserves the right to amend and upgrade its policies, terms and conditions. Most updated and valid company policies are published on AM broker website. Using any services of AM broker, clients and partners agree with the current terms and conditions provided in the company's agreements and legal documents. Clients and partners are considered aware of all risks concerning financial services and charges applied by AM globe services ltd.

Please be advised, the services and products described on this website are not offered to citizens of E.U. Member states, the united states, canada, japan, turkey and australia. AM globe services ltd and its products and services offered on the site www.Ambroker.Com are NOT registered or regulated by any U.S. Or canadian regulator and not regulated by FINRA, SEC, NFA or CFTC.

Company get the best advice on forex no deposit bonus

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: forex bonus deals. Find the latest no deposit, rebate or deposit match bonuses at forex brokers 2021. Can you still get a free forex bonus? Find out! At best no deposit bonus forex brokers