This type of Forex bonus does not require any deposits and is very popular among beginners. Trade Forex without any risks, while having the opportunity to earn money. However, to withdraw a no deposit encouragement or the profit received from it, you will need to fulfill certain conditions, for example, to trade the required volume.
The no-deposit Forex bonus is offered free of charge. You will pay absolutely nothing to the broker, but instead, the broker will pay you a certain amount, which will allow you to trade risk-free on a live account. All you need to do to get the forex no deposit bonus is to register on the broker’s website, confirm your account (by providing the necessary documents), and then download and install its trading platform to start trading with a free encouragement, which in turn will make you a potential client for this broker. Forex brokers use no deposit bonuses to attract new clients, and above all, new brokers try to increase their client base in a short time in this way.
The minimum amount of the initial deposit depends on the type of account: individual or corporate. The minimum deposit for an individual account is 10,000 EUR, and for a corporate account – 50,000 EUR. You can also deposit the equivalent amount in USD, GBP, CHF, CZK, RUB, or PLN.
It’s important to note that the number of currencies available for deposit may vary depending on the type of account. For more information, please contact your manager. When your account is approved, you can replenish it with any amount. Most brokers do not have fixed minimum and maximum transfer limits. However, you will only be able to trade once you have the minimum deposit amount in your account.
Can I earn this Bonus?
No deposit bonuses are usually offered in small amounts ($10, $25, $50, or $100) and once you start trading with such bonuses, you can make a profit and withdraw it from your account. However, you will need a trading strategy to achieve this goal. In other words, you must be quite experienced in trading and if everything goes as you planned, you will make a profit, which can sometimes be quite substantial. Many traders have been able to profit using such promotions, and who dares to say that you cannot be one of them?
But before you get carried away with free bonuses, you need to be well prepared. You should focus on your trading strategy and be able to weigh and analyze trading decisions well. Although it is not easy to make money with a no-deposit promotion, with a good trading plan you can do it.
Conditions for Promotion
Different brokers require different conditions to be met when offering free bonuses. Some brokers make the process of earning and withdrawing profits a little more difficult than others. For example, you may need to trade a certain number of lots to withdraw a promotion or profit from your account. The broker may also charge a significant amount of the fee for the first or any subsequent withdrawal request.
The following factors should be considered when choosing a Forex no deposit bonus:
- It is better if the bonus amount is more than $20, as this will facilitate trading.
- Access to high leverage will allow you to make more profits with less investment.
- The conditions for trading should be rational and without excessive prohibitions. The fewer restrictions on trading, the more chances to make a profit.
- Brokers offering promotions must be respectable and trustworthy.
Forex no deposit bonuses, in most cases, are issued under certain conditions or for a limited period and then debited. In this case, there is no risk, and the profit that will be traded or earned on investments is available for withdrawal. Having studied the Forex market and being able to trade on your own, you will not need free bonuses. You will be able to trade while making good profits without them. In addition, some brokers run Forex promotions for live account traders, which can also be used to increase profits.