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Forex Brokers That offer Free No Deposit Bonus

A no deposit bonus is a reward offered to traders without making a deposit by a broker. It is often known as a complimentary bonus without a deposit, as traders are offered a free bonus without a deposit being made. These bonuses are highly popular because the trader can gain a bonus without risking any funds. However, the no deposit bonuses comprise smaller sums that are credited in comparison to a deposit bonus.

Traders can claim the no deposit bonus with a forex broker by opening an account and verifying their identity, then the forex broker funds their account with the no deposit bonus. It is credited instantly to the trader’s accounts for trading the bonus funds.

The brokers make the deposits once traders activate their live account on the platform, which allows them to understand the live trading conditions and explore different options without jeopardizing their funds. This enables novice and seasoned traders to utilize the bonus fund and develop in-depth knowledge about the brokerage platform and its systems. The accessibility of a free bonus varies depending on the broker.

What is a No Deposit Forex Bonus?

A no deposit forex bonus is a cash award that is deposited by the broker into the forex trader’s account, without requiring an initial deposit into the trading account by the trader.

Just like the deposit bonuses in Forex (which require you to deposit first), the no-deposit bonus is used strictly for trading purposes and can only be withdrawn from the account on fulfillment of the broker’s trade volume requirements.

Typically, the no-deposit forex bonuses are not as large as the deposit bonuses. They range from between $10 and $200, depending on the broker. They are actually meant to introduce new traders into the world of real money trading and are not meant to be used for profit-oriented trading. Think of it as a form of live, real money practice account where you keep all the gains. If you lose money, you have lost nothing.

What Should I Do to Get My Bonus?

Most of the no-deposit forex bonuses in the market can be obtained as exclusive offers through affiliate partners of the forex brokers that offer them. The forex brokers who award the no-deposit forex bonuses directly are typically in the minority.

What is the Difference Between No Deposit Bonuses and Deposit Bonuses?

No-deposit forex bonuses do not require an initial deposit into the trading account before they are awarded. This factor distinguishes the no-deposit forex bonus from the deposit bonus, which like the name implies, requires a deposit from the trader before it is awarded.

No-deposit forex bonuses are smaller in size as they mostly serve for live account practice.

What Other Bonus and Promotion Types Do Brokers Offer?

Other bonuses and promotions may be given out by brokers occasionally.

  1. The cashback is the commonest bonus which a trader can get. Although this requires that some previous deposit would have been made by the trader, cashbacks are a good way to earn back any money that has been lost in previous trades. These are provided by brokers automatically without requiring further deposits.
  2. Trade contest awards do not require a previous deposit. You can participate in various trade contests on broker platforms for a share of the prizes. Cash prizes are usually awarded to traders as a no-deposit bonus. All you need is to ensure your account KYC documents are in place and you can claim your award if you win.
  3. Some brokers provide traders with tools they need to trade with on fulfillment of certain conditions such as attaining certain trade volumes within a specified time frame.

1. XM

2. Tickmill

3. GrandCapital

4. WindsorBrokers

Conclusion

We hope this article helped you to choose the brokers that offer a free no deposit bonus. You may also want to see our ultimate guide verifying a forex broker and our comparison of the best mpesa forex brokers.

Are you looking for the best no deposit bonus forex brokers for 2022? Here we show a list of these brokers which we have compiled after careful evaluation of various candidates. Ensure you use the no-deposit forex bonus wisely and use it to enhance your live account trading experience.

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