We try to do our best to keep our resource up to date with the latest attractive offers from the latest brokers. One of the popular requests we get from our visitors is the type of bonus you get without the need to make the first deposit.
Plus500 offers $30 bonus - no deposit required
Capital Markets brings new registrations $100 - no deposit required
Real Trade has $10 promotion - no deposit required
FX open offer $50 bonus - no deposit needed
Freshforex brings you one of the biggest no-deposit bonus $2018 Golden Ticket - no deposit required
Instaforex has $5000 bonus - no deposit needed
Xtreamforex launches $34 Forex Bonus - no deposit required
World Forex starts with $20 promotion - no deposit required
Continue FX offers new sign ups $20 bonus - no need to make a deposit
XM broker has $30 bonus offer - no deposit required
STForex welcomes Russian traders with $10 bonus - no deposit required
What is this FREE no deposit bonus any and why do I need it?
Here is the thing, we all love things we don't need to pay for. With the latest advancement in forex industry and abundant amount of online Forex brokers, there is a fierce competition to attract new registrations and investors among those companies.
One of the popular offers you might have spotted with some of the brokerage is called "No-Deposit Bonus" and it is exactly what it sounds. You do not have to make any kind of investment of your own funds in order to receive this free money to trade.
In most cases, all you need to do is to register a live real trading account with a broker and you are ready to take advantage of your Forex account with the credited real money in it. The bonus cash can be used to trade the real market right away and No deposit is needed at this point.
Now that you understand the overall definition of this deal, let's go over some of the advantages of this type of offer:
- you don't risk your own money
- you can get to know the broker's platform in real mode instead of demo account
- you can experiment with your trading skills and get the feel of the real market
- you can actually earn profits but if not, you won't lose any of your own money
What are the downfalls of the No Deposit Bonuses? It cannot be all cotton candy, can it? You are absolutely right, there is always a so called catch. So let's see what you are getting yourself into:
- No deposit bonuses usually are not high ranging from just $5 to maximum of $100. It is great for micro and cent accounts. The main thing to understand is that trading such small amounts require very different strategy and skills compared to largely funded account. Full understanding of risks involved and experience are necessary to trade micro, mini and standard accounts. Yes, at this point you are not using your own money, but rather trade the free cash you have received from the broker, however, you can either gain some experience from it, or wipe the whole account funds in literally a second. So yes, trading knowledge is necessary even when you trade bonus money.
- While the profits you make can usually be withdrawn, the bonus amount you receive cannot be taken out. Make sure to go over the terms and conditions of the bonus you receive, especially the part about trading volume requirement, account funding, minimum amount you are allowed to withdraw and so on.
Some offers are not a no-deposit bonus if
- your brokerage requests you to make a deposit in order to start trading your fee bonus
- you cannot withdraw the profits you make with the bonus money received. As stated earlier, there might be all sorts of terms attached to the offer, however the profits must be available for withrdrawal. If this condition is not met - the offer is a fake non deposit promotion, created only to trick new traders into registering.
What brokers get out of this type of promotions?
No matter how you look at this, providing no-deposit bonus for newbies is one of the top marketing strategy used not only in online trading but in every product ever sold in the history of human kind. And, obviously, promoting brokerage falls into this category as well. Such offer makes the company brand stand out and receive lots of potential new traders.
The bad thing is when the promotion is not marketed well enough or imposes impossible terms on traders causing lots of misunderstanding and anger among clients, which eventually leads to scam reputation.
Brokers must be very careful in proposing a no-deposit promotion to the customers and be fair to the potential investors. Transparent terms and conditions of the offer is a must if you don't want to ruin your name.
Below are couple of extra points to look for in brokers no-deposit promotion in order not to be dissapointed
- Make sure the offer is a true "no-deposit bonus" and not just a pretty name on a piece of paper (in our case, a flashy banner on a screen). As a new trader you want to be able to take the profits out. And no, you do not want to make a deposit before the bonus is eligible for trading. If you cannot make a withdrawal - the offer should be called "Deposit bonus" or "Match".
- Find out if you are eligible to receive a no-deposit bonus in the first place. Some offers are not accepting specific countries, while others run global promotion. Check out the restricted countries before you get your hopes up.
- Be aware that every broker reserves the right to change terms and conditions of every offer (and not only promos, but in fact of all conditions and features available within the platform itself). It is possible that the bonus rules change in between the time frame of the promotional offer.
We hope that this resource was useful and shred some light on no-deposit bonus promotions.
If you know any Forex broker that runs a no-deposit bonus offer at the moment, you are welcome to suggest it in the feedback comment below.