Millions of new traders come to the Forex market every year, and each broker tries to attract as many of them as possible. While favorable trading conditions and low fees are crucial in this competition for new users, many brokers offer additional bonuses to make their platforms even more attractive. Some of them are pretty straightforward: they give you free money just for signing up, and that’s called a no deposit bonus. In this article, we explain how it works and give you a couple of options for starters.
How such bonuses work
No deposit bonuses are extremely popular on the Forex market. They allow you to save some money while trading with free currencies provided by your broker. With such bonuses, you can start trading in a real market environment without investing anything, and that’s exactly why they are so popular with novice traders. If you’re completely unfamiliar with Forex trading, such a bonus can be a great start in this niche. However, you should be very careful when choosing a broker, even if its bonus is large.
Each broker has its own conditions: some of them won’t allow you to withdraw your bonus funds, and others ask you to complete certain tasks to get them. If you don’t know what to choose, check out our list of the best no deposit bonus options provided by the most reputable brokers.
RoboForex gives its new users $30 for free as a no deposit bonus. However, you have to deposit $10 and verify your account to get that bonus. You can’t withdraw the initial sum, but you can take profits starting from the very first trade.
FBS is a reputable international broker licensed and regulated by CySEC. It provides an initial bonus of $100 for new users, and all you have to do to receive it is open a new MT5 account and request it from the broker. You can withdraw your funds after trading at least 5 lots in 30 days.
Tickmill is a well-known Forex broker that offers a no deposit bonus of $30. You can receive it just by signing up to the platform, but it will be deposited to a special bonus account. In order to withdraw it, you have to open a real account and deposit at least $100 to it.
FXOpen is another popular broker that offers a no deposit bonus. While you get just $10 here, all you need to do to receive it is create an account and verify your phone number. The bonus can’t be taken, but you can withdraw profits after trading 2 lots.