Trading broker with free bonus

Regulated by: ASIC, cysec your capital is at risk

Best no deposit bonus forex brokers 2021

The brokers below represent the best no deposit bonus forex brokers.

Top forex bonus list

Cfds are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.27% and 73.32% of retail investor accounts lose money when trading cfds with tickmill UK ltd and tickmill europe ltd respectively. You should consider whether you understand how cfds work and whether you can afford to take the high risk of losing your money.

Cysec, FCA, FSA(SC), FSCA, labuan-fsa

Trading derivatives and leveraged products carries a high level of risk, including the risk of losing substantially more than your initial investment. It is not suitable for everyone. Before you make any decision in relation to a financial product you should obtain and consider our product disclosure statement (PDS) and financial services guide (FSG) available on our website and seek independent advice if necessary.

Your capital is at risk

Ctrader, MT4, MT5, proprietary

Dealing desk, ECN, market maker, no dealing desk, STP

Your capital is at risk

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Your capital is at risk

ECN, no dealing desk, STP

Your capital is at risk

Note: not all forex brokers accept US clients. For your convenience we specified those that accept US forex traders as clients.

Tickmill

Regulated by: cysec, FCA, FSA(SC), FSCA, labuan-fsa

Headquarters : 3rd floor, 27 - 32 old jewry, london, england, EC2R 8DQ.

Tickmill was founded in 2014 and is regulated by the UK financial conduct authority (FCA), the cyprus securities and exchange commission (cysec) and the seychelles financial services authority (FSA).

The broker provides more than 80+ CFD instruments to trade on covering forex, indices, commodities and bonds through three core trading accounts called the pro account, classic account and VIP account. They also offer a demo trading account and islamic swap-free account.

GO markets

Regulated by: ASIC, cysec

Headquarters : level 22, 600 bourke street, melbourne, VIC 3000, australia

Australian brokers are definitely making a name for themselves in the trading arena as some of the most reliable, intuitive and forward thinking firms around. This broker is no different with a wide variety of tools, assets and reasonable trading conditions.

GO markets pty ltd an ASIC regulated broker has been in operation since 2006. The head office is located in melbourne, australia. With over a decade of experience, GO markets has grown to become a leading broker with a huge client base from over 150 countries. GO markets offers forex, share cfds, indices, metals and commodities for trading on the MT4 and MT5 trading platforms.

Roboforex

Headquarters : 2118 guava street, belama phase 1, belize city, belize

Your capital is at risk

The roboforex brand is operated by the roboforex group, and is located in belize. Roboforex began operations in 2009 and has grown in size and capacity. The brand offers over multiple trading instruments which include forex, stocks, indices, etfs, commodities, energies, metals and cryptocurrencies.

They also offer cutting edge platforms. Roboforex boasts of over 800,000 clients from 169 countries. They are both a dealing desk and non dealing desk broker offering ECN and STP trading accounts through their platforms. This means a different payment model to you the trader eg. Lower spreads for ECN accounts with some commissions to pay.

*leverage depends on the financial instrument traded and on the client’s country of residence.

Axiory

Headquarters : no.1 corner of hutson street and marine parade belize city, belize

Axiory was founded in 2012 and is a trading name of axiory global ltd which is authorised and regulated by the international financial services commission (IFSC) of belize. The broker segregates client funds from their own and offers negative balance protection. The company is also audited by pricewaterhousecoopers and is a member of the financial commission.

Users can choose from three types of trading accounts called nano, standard and max to trade on 80 different markets covering forex and cfds on indices, energies, stocks and metals. Axiory offers maximum leverage of up to 1:500 and also provides access to islamic swap-free accounts and a demo trading account. Users can also access data regarding execution times and slippage distribution for even more transparency.

Justforex

Regulated by: not a regulated broker

Headquarters : suite 305, griffith corporate centre, P.O. Box 1510, beachmont, kingstown, st. Vincent and the grenadines

Your capital is at risk

Justforex was founded in 2012 and is a brand name of JF global limited which is a registered company in st. Vincent and the grenadines. The broker offers 7 different types of trading accounts ranging from commission-free to commission-based accounts, islamic swap-free accounts and even ECN trading accounts.

While the broker offers more than 150+ asset classes to trade on, covering forex ECN, stocks, indices, commodities and bonds, access to certain markets depends on the account type opened. Justforex provides users with the globally-recognised metatrader 4 and metatrader 5 trading platform for PC, as well as the metatrader mobile trading app for android and ios users.

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 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.

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.

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.

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.

Conclusion

Are you looking for the best no deposit bonus forex brokers for 2017? 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.

Best no deposit bonus forex brokers 2021

The brokers below represent the best no deposit bonus forex brokers.

Cysec, FCA, FSA(SC), FSCA, labuan-fsa

Your capital is at risk

Ctrader, MT4, MT5, proprietary

Dealing desk, ECN, market maker, no dealing desk, STP

Your capital is at risk

ECN, no dealing desk, STP

Your capital is at risk

Note: not all forex brokers accept US clients. For your convenience we specified those that accept US forex traders as clients.

Tickmill

Regulated by: cysec, FCA, FSA(SC), FSCA, labuan-fsa

Headquarters : 3rd floor, 27 - 32 old jewry, london, england, EC2R 8DQ.

Tickmill was founded in 2014 and is regulated by the UK financial conduct authority (FCA), the cyprus securities and exchange commission (cysec) and the seychelles financial services authority (FSA).

GO markets

Regulated by: ASIC, cysec

Headquarters : level 22, 600 bourke street, melbourne, VIC 3000, australia

Roboforex

Headquarters : 2118 guava street, belama phase 1, belize city, belize

Your capital is at risk

*leverage depends on the financial instrument traded and on the client’s country of residence.

Axiory

Headquarters : no.1 corner of hutson street and marine parade belize city, belize

Justforex

Regulated by: not a regulated broker

Headquarters : suite 305, griffith corporate centre, P.O. Box 1510, beachmont, kingstown, st. Vincent and the grenadines

Your capital is at risk

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.

What should I do to get my bonus?

What is the difference between no deposit bonuses and deposit bonuses?

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.

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.

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.

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.

Conclusion

Trading broker with free bonus

Deposit bonus – A bonus on funding a live account. The bonus credited on percentage of the deposit amount.

No deposit bonus – free bonus on account registration for the new clients to trade live without any risk.

Tradable bonus: A deposit bonus that can be lost and traded as the part of your trading equity.

Volume bonus – most common type of deposit bonus, it allows you to increase your trading volume. Often the bonus can be cashed on trading lot requirement.

Forex gift – A gift for the clients for completing certain requirements, everything from bonus to latest gadget

Freebies – free stuff by forex brokers like ebook, courses, trading materials etc.

Rebate – cash-back withdrawable bonus on each lot traded.

Demo contest – contests held on demo account, win cash/tradable money with no-risk involve!

Live contest – contest held on live account, deposit requires. Win bigger cash/prizes.

Refer – a-friend– refer your friend to your broker, when your friend deposit you will get a special bonus

Free signals – get free trading signals from the broker.

Free VPS – get access to an optimized forex virtual private server for free on maintaining a certain amount of trading balance.

Binary options – binary bets trading on forex instruments

Forum posting: get a small trading bonus for each of your post in forms.

3 affiliate IB: receive a commission from your fellow traders, specially design for the marketers.

Draw bonus: the winners chosen by a draw

Seminars webinars: find the schedule to participate in the online/offline events.

Expos events: inviting to attend the forex events & expos globally.

Forex trading without deposit | no deposit bonus explained

It’s generally known that in order to get started in forex, you need to put a lot of resources into it. And while these resources can be your time and energy, the most straightforward one is, of course, your money.

It’s no surprise that one regular lot is equal to 100,000 currency units – forex trading is definitely an expensive endeavor. However, there are still some ways in which you can start trading forex while maintaining some sort of profitability without spending hundreds of thousands of dollars.

No deposit bonus in a glance

In forex trading you can, in fact, start trading with no money of your own or even making a deposit. With free no deposit bonus offered by the top forex brokers, you can start forex trading without deposit with a good boost.

There is no sense in hiding the fact that FX trading is risky, especially if you are trading without proper knowledge and at least minimal experience. In an attempt to prevail over the risk of losing your money and to stay safe, it is undoubtedly better to start trading with a free forex account or no deposit bonus offered by various FX brokers. Especially if such deals are not so rare at this time and even best forex brokers sometimes offer such deals.

It is always better to preview all conditions that offer you an option to trade without money of your own. So, be sure to start forex trading without a deposit now and get yourself a good and reliable deal!

But let’s say that although you’ve learned how to start deposit free forex trading, it’s still too risky for you. Thankfully, there is an alternative. One way to start trading with a broker is by opening a free forex demo account for beginners. A demo account will allow you to try your hand at trading on the real market without ever touching real money. One of the best brokers to try a free demo account with would be FXTM. If you don’t want to be working with FXTM and want access to a reliable forex broker that offers its services around the globe, alpari offers a similar service, including forex trading demo accounts. If you are a US citizen that wants to trade with local brokers, then you should go for forex.Com, who offer their services within the US and are known to be one of the best brokers in the world.

Transparent pricing and fast, reliable trade executions on over 80 currencies

Start trading with the largest forex broker in the US

How to start forex trading without deposit: tips & recommendations

As a matter of fact, a lot of brokers worldwide try to offer their clients those no deposit deals, and we’ve even seen some trading apps without deposit popping up here and there. Do not perceive this as an act of generosity though, those bonuses serve as a sort of protection for them also. But still, this is good for you if you want to start forex trading without a deposit.

Here are some of the main considerations that can help you spot a decent no deposit bonus:

If you somehow dislike conditions and terms offered by the broker – simply skip the promotion. Let’s investigate the ways that may help you find the best bonus in FX. First of all, bonuses must be easy to understand and transparent in general conditions. If you see non-explicit information presented, avoid the promotion or ask the broker for clarification.

If you wish to take part in the particular promotion and start forex trading without investment, then do not overlook terms and conditions. Even the smallest detail must be in your sight. A free bonus is actually not always 100% free. Some brokers may ask you to deposit some money in order to collect your profits. Indeed, such promotions are scams.

Be attentive, because some forex brokers can demonstrate a good opportunity with their no deposit bonus, however it may ask to complete the trading volume requirement. Stay away from the bonus that asks to complete more than 1 lot for $10 to further unlock the profits and balance.

Bonuses can vary in terms of geographical location requirements. Therefore, ensure that FX bonus accounts of the broker are given in your country as well if you desire to start forex trading without investment. Furthermore, there can be account restrictions. This means that no deposit bonuses may not always be available for every account at a particular broker. Thus, check whether you applied for a correct account.

In addition, make sure what instruments can be traded to withdraw your profit before you begin trading as sometimes FX bonus accounts are not available for some of them. As for the withdrawal, some forex bonus brokers limit the maximum profit available to withdraw from the account. So, do not miss this field before you start trading on your no deposit FX bonus account.

Bonuses are frequently represented only in 1 currency equivalent. However, there are many no deposit bonuses that evaluate a similar amount in your local currency, so doing your research in order to figure out how to join forex trading without making any deposits is a good way for ensuring success in the long run.

Not ready for live trading? Try IQ option demo account!

Practice your trading skills with free $10,000 practice account!

How to start forex trading without a deposit?

As one of the cases, no deposit bonus may come with SMS verification. It is recommended to make sure that you have the right phone number prior to start applying for the bonus.

One of the last tips that can help you find a trustworthy no deposit bonus, or at least help you get through a scammer, is to save the terms and conditions document as a .Pdf file. Do this even if you deal with the best no deposit forex bonus account. You can use the help of your account manager and ask him to confirm all the statements of the bonus promotion in which you participate.

Start forex trading without deposit: introduction to best no deposit bonuses

Although there are very good no deposit bonuses offered by industry leaders and most proficient brokers, you should understand one fact: FX bonuses without a deposit are most frequently offered by bad brokers. That is the very reason why you should be very careful not to get entangled with a scammer.

All this leads to us stressing how important it is to be attentive at all times, so be attentive to details when researching how to start trading with no deposit bonuses. Fortunately, we have examples of the best brokers/investment firms.

Start forex trading without investment: XM forex broker

To begin with, XM is recognized by the united kingdom-based organization – investors in people for its powerful efforts in developing individuals to realize their entire potential and achieve both individual and corporate goals. We should also admit that this organization provides a huge amount of proven tools and resources specially designed to complement its unique framework with an aim to boost performance and indeed maximize sustainability. XM achieves this standard by showing that it is a driving force in the online trading sector and is committed to the provision of services and products of the best quality. How to start forex trading without money? If you are interested, you can claim the XM 30 USD no deposit bonus!

Get your 30 USD no deposit bonus with XM, and start trading today

*clients registered under the EU regulated entity of the group are not eligible for the bonus

No deposit bonus as an alternative – is it worth it?

So, now that you know what no deposit bonuses are and how they work, one question remains active: is it actually worth it to sign up for one yourself? Will you get any significant benefit from it?

The answer to that question is subjective; some traders can definitely find use in this type of promotion by amassing a small account balance and then turning it into a full-blown trading career. But in order to do so, you need to be very careful not to catch a scammer instead of a legitimate promotion issuer.

As for other traders, they often prefer spending their own money, which gives them more incentive to be more careful in the market – after all, it’s their own money they’re risking.

So, suffice to say no deposit bonuses have their time and place; one just has to seize that exact moment.

Trade for glory

FBS - official trading partner of FC barcelona

Transparent registration conditions

Daily analytics and free educational materials

Multiple methods for deposits and withdrawals

Easy trading options both for beginners and experts

Over 10 years of expertise

We share experience and educate clients

We solve your issues and collect feedback

Increased leverage 1:500 for professionals

Fast deposit and withdrawal

Join to work your money fast and easy

Open account

For experienced market players making their way to forex heights

For beginners who want to trade real funds without risking too much.

Perfectly suits those who are starting their way to success on forex

For cautious traders who want to test their trading skills and tools on small virtual funds

Your capital is at risk. We protect you with negative balance protection.

Choose your payment system

Be armed with the latest news

FBS acquired the FBS banking trademark

New heights – annual report for 2020

GBP/USD still enjoys brexit deal but for how long?

Brexit: the future of the GBP

Dollar slightly softer to start the session

Will the USD grow with the US labor market?

Will the US CPI boost the USD?

Risk warning: 74% of retail accounts lose money when trading ᏟᖴᎠs with this provider. ᏟᖴᎠ's are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how ᏟᖴᎠ's work and whether you can afford to take the high risk of losing your money. Please refer to our risk acknowledgement and disclosure

The website is owned and operated by tradestone limited (address: 89, vasileos georgiou street, 1st floor, office 101, potamos germasogeias, 4048 limassol, cyprus), registration number HE 353534, authorized by cyprus securities and exchange commission, license number 331/17.

$50 free no deposit bonus – trade360

Trade forex, cfds, bitcoin and oil with $50 free no deposit bonus powered by trade360. No-deposit required to begin live forex trading. Register and get $50 free bonus in real credit to start trading your favorite forex and trading instruments. Take the opportunity to trade without investment and experience live trading were no risk at all. It is time to move on to live trading rather than strict into demo & explore the pleasure of real trading where no threat of losing your own money.

Get forex $50 free no deposit bonus

Joining link: free no-deposit

Ending date: december 31, 2017

Offer is applicable: new clients

How to apply:

Get verified your profile.

Bonus withdrawal:

Withdrawal condition not found.

Please be advised to ask their support about the withdrawal conditions before apply.

Terms & conditions – trade360 $50 no deposit bonus

Require to verify mobile no.

Find all the details regarding the free bonus from by visiting the above link.

Please be advised to read and understand the terms of the no deposit bonus before applying for it.

General terms and conditions apply.

$30 new year no deposit bonus – justforex

$25 no deposit bonus – velocity trades

US $50 no deposit bonus, afghanian – unicorn

$30 USD no deposit bonus – profitto ltd

30,000 JPY NO DEPOSIT MARGIN BONUS – GEMFOREX

$30 NO DEPOSIT BONUS OFFER – XM group

$50 USD no deposit bonus – iam-trader

$30 BONUS, no deposit required – fxgrow

$140 NO DEPOSIT BONUS, withdraw profits – FBS

$30 NO deposit trading bonus, withdraw $60+ – hotforex

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This looks like a good way of getting a bonus to start real trading. That is, if the bonus is really being given.

Bonus defo given, I’ve been on there for a week now and up at $155.65. Only thing is don’t no how much u have to earn before release of funds.

How to register at trade 360

I neva get bonus,i think this is a liar

I neva get bonus,i think this is a liar, i need bonus

About withdrawal the support answered this:
“the bonus and the earned profits will become withdraw-able once you complete ALL of the following steps:

A. Completed know-your-client documentation.

1) if you will make a deposit with a credit card, a scanned copy of the credit card you used for the deposit.(front and back)
2) photocopy of your ID or passport.
3) proof of address. (example: utility bill showing your full name and current address can serve as a proof of address).

B. Minimum deposit of US$25
c. Opening of one trade
d. Fulfilling a minimum trade volume of US$250,000
e. Clients are eligible to receive the bonus once, and for one account only. Each account opened qualifies for the bonus once per registered IP address, phone number, and email.
F. The account in question contains a minimum balance of US$70.”

B: opening of one trade? After you have deposited the 25$??

Unfair conditions high margins
gave me 50usd nice but i wanted to buy gas for 25 eur at 2.080 , ordered to close it at 2.100 – profit of that deal would be 1.5 usd , so i cancelled acount and left

It looks they are good broker, wondering how I would apply for no deposit bonus. I think $50 is a decent amount for start live with free money. My experience is not great when ever I tried with some bonus previously. Anyway let me see how it works for me.

If u want a genuine free no deposit bonus… only one broker I can boldly tell u is good for now.Xm.Com. Very good conditions. Free $30 and u can even withdraw same day if u make profit. Dey will only remove d $30 but all profit can be withdrawn or withdraw some n leave a little to continue trading

Why cant i ise my bonus $50 to trade with. No deposit yet made on my part just the free bonus.

Thats a deposit bonus
it’s not a no deposit bonus -_-
you need to deposit 25$ to withdraw

How to claim your free $ 50

I neva get bonus,i think this is a liar, i need bonus

A good way of getting a bonus is to start trading with trade 360

Hi all spreads in trade360 is huge in almost all pairs. Nzdusd 12 pips gbpusd 20 pips never seen even in most wide spread companies.. Not sure how anyone can complete the lots .. 10 lots it i will take life time with that spread to complete..

Trade360.Com is big scam broker not paying just time waist please d,nt work on it i worked hard i earned 530$ with 10 lots then i deposit 25$ after verify account i could not received withdrew trade360.Com my email account:[email protected] there were 25$ deposited refunded and account was bloked

Forex no deposit bonus in 2021

Risk warning: losses could exceed deposits.

Haroun kola

Questions?

Risk warning: losses could exceed deposits.

How to trade forex for free

If you always wanted to trade forex, but just don’t have the money to start or you want to try out the live servers instead of demo servers then these brokers have made it possible for you to do just that.

These accounts come with their own terms and conditions and I urge you to read each of them so that you know exactly what to expect from these accounts.

Don’t expect to be able to withdraw this amount, you may be able to withdraw profits, but there WILL be trading volume restrictions and most of them (ALL I think) will want you to make a deposit of your own cash before they make any of the proceeds of this bonus available to you.

Tigerwit

Tigerwit have just announced a new $25 no deposit bonus for ALL new traders to try out their live trading conditions. It could also be a celebration of liverpool winning the EPL after a 30 year wait, but whatever the reason, I’m thrilled they’re doing this.

They have a copy trading solution and in partnership with an EA provider we’re experimenting to see how profitable it could be. More details will be provided to every trader that signs up for this free trading account.

Markets.Com

My favourite broker for this kind of bonus is markets.Com who are offering a R250 in trading credit.

Now I’ve never tried one of these accounts myself, I’d much rather learn with at least a reasonable amount of funds to see me through any consecutive number of losing trades, but I definitely know that other’s are looking for this. So, if you take this up, I’d love to know what your experiences are.

Tickmill

Experience one of the best trading environments in the industry risk-free with tickmills $30 welcome account.

No need to deposit funds

No risk of losing your money

Profits earned can be withdrawn

Trade for free with XM

XM is offering a $30, no deposit bonus to try out their services. Many brokers are now offering this risk free way to give you a taste of their services.

You probably won’t get rich from this free account, you’ll need a decent size account of at least $500 if you want to start making some real money but if you haven’t ever traded before or you want to see what their service is like, sign up with XM.

Instaforex offers A no deposit bonus

Instaforex, asia’s favourite broker also offers a no deposit bonus. There’s is one of the most generous at $1000, but before you get too excited, listen up to what their terms and conditions are.

As soon you reach a 10% profit, ie. $100 in profit, your account won’t allow you to trade any longer until you make a deposit of at least $100.

If you’d like to take advantage of this, then open an account here.

$10 free from fxopen

It’s very easy to apply for the $10 no deposit bonus from fxopen. All you need to do is register an fxopen ewallet. Verify your mobile no and finally, open an STP trading account.

You may withdraw all profits after trading 2 standard lots. The initial $10 USD bonus can’t be withdrawn though, it’s not your money, honey.

I must re-iterate, these trading accounts won’t make you rich for free. You’ll have to make a deposit and trade a certain amount to be able to withdraw either the free deposit amount or

Why you shouldn’t take the deposit bonus from forex brokers

It’s everywhere…brokers offering you a forex bonus, but here’s why you shouldn’t take it. “deposit $500 and we’ll give you a $100.” “we’ll match 100% of your deposit up to $1000!” have you seen them? It’s tempting to take this “free money” offer. After all, that extra cash gives your new trading career a nice boost. Don’t take the forex broker bonus. There are several reasons why.

Don’t take the forex broker bonus – withdrawal issues

The main reason not to take a forex broker bonus is that it’ll likely lead to withdrawal issues.

Let’s say you deposit $1000 into a forex account, and for this you get a $200 bonus (see day trading with $1000 or less). While this gives you $1200 in capital to trade with, you can’t withdraw that amount. In fact, while you may have $1200 in your account, if you go to withdraw $300 for emergency expenses, the forex broker won’t likely allow it. Why? Because now their money is mixed with yours. They have a vested interested in keeping your capital in the account because it protects theirs

What if you want to switch brokers, so you go to pull out your money? The bonus you accepted forces you to stay.

The only way you can withdraw the bonus, or any of your own capital, is to trade enough so that the full forex bonus is “released” to you. Typically, you need to trade $10,000 for each $1 of the bonus (read the fine print, bonus terms may vary). So in order for that $200 to become yours, you need to trade $2,000,000 worth of currency. Forex bonus terms vary, but the bottom line is that you need to trade a lot, regardless of how it’s structured. Some brokers do allow withdrawals while in the “bonus accumulation” phase, but often you’ll lose the bonus accumulated, or the bonus is pro-rated to the withdrawal amount (this is fair, but we still have other issues). This brings us to the next reason you shouldn’t take a forex broker bonus.

The forex broker bonus isn’t worth squat

Think about the above statement for a second “you need to trade $10,000 for each $1 of the bonus.” this statement seems typical across the sites reviewed (not all of them of course), but in some cases up to $100,000 needs to be traded to release just $1 of the bonus!

If the EURUSD moves 1 pip while you’re holding a mini lot ($10,000 worth of currency) that equates to a $1 increase or decrease in your account equity, depending on if the trade moves in your direction or not (see: introduction to forex trading). Essentially, the forex bonus is only worth 1 pip ($1) per mini lot trade. That amounts to squat when you really think about it.

For the potential withdrawal issues, is making $1 per mini lot trade really worth the hassle? Making 20 pips on the actual (1 mini lot) trade results in a $20 gain. Since most new traders aren’t full-time traders they’ll swing trade, seeking bigger profits from positions, potentially 100 pips or more. If you make 120 pips on a trade you make $120, or if you lose 120 pips you lose a $120. That $1 bonus per $10k traded starts to look pretty insignificant.

Thinking about this tiny amount is likely to induce you to trade more often, taking poor quality trades. Therefore, not only is the bonus worth squat, it is likely to actually negatively affect your trading.

The forex bonus is aimed at new or minimal capital traders

Let’s continue with the point above. Usually, forex broker bonuses are aimed at new traders, or traders with small amounts of capital typically depositing $5,000 or less, often $1,000 or less. If you have a $1,000 account, even with leverage it’s going to take most traders (who aren’t full-time) a long time to trade $2,000,000 in order to withdraw (their own funds and) their $200 bonus, as in our example above.

If you manage your risk and don’t risk more than 1% of your account balance on any one trade, on a $1,000 account ($1200 with the bonus) that means you can risk $12 per trade. If trading a mini lot, that means you need to take trades with a 12 pip risk or less (difference between entry price and stop loss order). You need to make 200 such trades in order to make that bonus yours. At one trade a day, that takes nearly a full calendar year. Making a trade every other day means two calendar years of trading before that bonus is yours. What if you want to make a withdrawal in that time?

Not quite as glamorous as it sounded in the ad, is it?

Now if you open an account for $10,000 and get a $200 bonus it works a bit better (see how much money do I need to trade forex?). Because you have a lot more of your own capital, you can take larger positions, and still keep your risk per trade under 1%. You attain your bonus much quicker, likely within a matter of months. But most traders who are taking this bonus aren’t depositing $5,000 or $10,000, they’re depositing $100 to $1000. If you take a $200 forex bonus on a $200 deposit you’ll likely never be able to withdraw your money. It’ll take you so long to trade the necessary $2,000,000 in currency that the learning curve in trading will have already eaten through the deposit.

So if you deposit more then a bonus is good? No!

Most forex bonuses are offered by mediocre brokers or to naive traders

Given all the information above, you’re likely now seeing that a forex broker bonus is actually a bit of a scam. Not a fraudulent one, but more of an ethical grey area. Every broker that offers a forex bonus knows the above stats, and that most traders will never get to withdraw the bonus. On top of this, by providing the forex bonus the forex broker is assured that the trader can’t withdraw funds and is thus forced to trade with them until they become profitable, attain the full bonus or lose all their capital.

What type of brokers don’t want you to withdraw funds? I’m not saying…I’m just saying.

Look up very large forex brokerages…oanda, forex.Com, FXCM, tdameritrade, interactive brokers and saxo bank…do you see “free MONEY. ” splashed across their sites? They may offer a tighter spread, rebates on commissions or some commission-free trades to very active traders, but you’ll almost never see “free money” dangled in a trader’s face. Something to think about.

NOT ALL FOREX BROKERS THAT OFFER CASH BONUSES ARE BAD (nor is the above statement recommending the brokers mentioned)! There are likely a

lot of brokers out there which are quite reputable, but that offer a cash bonus which may result in you not being able to withdraw your funds. Read the fine print and be suspicious of free “carrots” dangled in front you.

Other troublesome things squeezed into legal jargon

In the fine print here are a few things also of concern. The below statements have been copied and pasted from actual bonus terms and conditions on several forex broker sites:

The company reserves the right to cancel the [XX]% bonus without prior warning, so we strongly recommend refraining from use of bonus funds in developing your trading strategy. The company is not responsible for any consequences of bonus cancellation, including stop out, because the bonus is the ownership of the company until the customer earns it by completing trades of the total volume specified in the clause [X]of the present agreement.

Defeats the purpose of a bonus. If they can retract that bonus at any time, and you are trading based on the amount of capital in your account (your own capital plus the bonus), if the bonus is taken away by the broker, it could leave you in trades that are way too big for the capital left in the account (just your your capital now).

If volume requirements are not met and the equity of the account goes below the bonus amount then the bonus is removed automatically by the system. In other words, if the cash equity (equity – credit bonus) becomes zero or less, all previously awarded credit bonuses will be canceled and withdrawn from the respective client’s account. In these circumstances the company shall not be liable for any consequences of the bonus cancellation, including, but not limited to, order(s) closure by stop out.

As indicated…that money isn’t free, and if you don’t do well that “free money” is going to be taken away. While wording of terms vary from broker to broker, the underlying tone is the same: you face potential complications by accepting the bonus, it takes a lot of successful trading for that bonus to become yours, there’s no actual free money, and it’s not going to be there for you when you actually need it.

Final word on forex broker bonuses

There may be some bonuses out there that are good, with minimal strings attached. Such forex broker bonuses are rare. Read the fine print, as each situation and broker are different. As a general rule, though…don’t take it!

When you open an account explicitly state that you don’t want the bonus. Send an email or make a phone call if you have to. If some of their money makes it into your account, it will complicate things. And when it comes right down to it, the bonus is usually so small (relative to potential trading gains or losses) that it really isn’t worth it. The bonus is worth the most to the small trader, yet it favors them the least since it could take years of trading before that bonus money becomes theirs. Most small accounts are wiped out by that time. And it’s probably best to trade with a regulated broker, in a major global financial center, that isn’t offering “free money” in the first place. If you want to be a real trader, ignore these gimmicks. Find a good broker and forget about bonuses. Ultimately, forex broker bonuses equate to tripping over pennies while the focus should be on the much bigger money available from actual trading.

Read all terms and conditions before opening an account.

In order to adequately test out a forex broker you need to be able to make withdrawals. This is part of the process outlined in how to find a forex broker that’s right for you.

Over 300 pages of forex basics and 20+ forex strategies for profiting in the 24-hours-a-day forex market. This isn’t just an ebook, it’s a course to build your skill step by step.

Best no deposit bonus forex brokers 2021

The brokers below represent the best no deposit bonus forex brokers.

Cysec, FCA, FSA(SC), FSCA, labuan-fsa

Your capital is at risk

Ctrader, MT4, MT5, proprietary

Dealing desk, ECN, market maker, no dealing desk, STP

Your capital is at risk

ECN, no dealing desk, STP

Your capital is at risk

Note: not all forex brokers accept US clients. For your convenience we specified those that accept US forex traders as clients.

Tickmill

Regulated by: cysec, FCA, FSA(SC), FSCA, labuan-fsa

Headquarters : 3rd floor, 27 - 32 old jewry, london, england, EC2R 8DQ.

Tickmill was founded in 2014 and is regulated by the UK financial conduct authority (FCA), the cyprus securities and exchange commission (cysec) and the seychelles financial services authority (FSA).

GO markets

Regulated by: ASIC, cysec

Headquarters : level 22, 600 bourke street, melbourne, VIC 3000, australia

Roboforex

Headquarters : 2118 guava street, belama phase 1, belize city, belize

Your capital is at risk

*leverage depends on the financial instrument traded and on the client’s country of residence.

Axiory

Headquarters : no.1 corner of hutson street and marine parade belize city, belize

Justforex

Regulated by: not a regulated broker

Headquarters : suite 305, griffith corporate centre, P.O. Box 1510, beachmont, kingstown, st. Vincent and the grenadines

Your capital is at risk

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.

What should I do to get my bonus?

What is the difference between no deposit bonuses and deposit bonuses?

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.

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.

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.

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.

Conclusion

So, let's see, what we have: FX empire’s top picks for the best forex brokers with no deposit bonus. We evaluated online brokers for their regulations, trading platforms, customer service, account types, commissions and more. At trading broker with free bonus