In today’s world, the Forex market is rapidly developing. Because of this, the number of potential traders is increasing proportionally. The forex brokers want to grab the attention of the newbie traders and prefer to stay apart from the crowd. For this purpose, they are offering promotions and incentives to their customers to attract them.
No deposit Bonus
No deposit bonuses are typically small and consist of nominal amounts. It is given to the new traders by the selected broker in their registered accounts without investing their own money to start trading in the market. With the help of a no deposit bonus, the newbie traders gain the experience of trading real money in the market without investing a single penny of their own.
Forex no deposit bonuses
Forex market offers Forex no deposit bonuses, also termed a welcome bonus by the forex brokers. A selected broker gives a tradable bonus to the new traders in the Forex market with no deposits required. This type of bonus is more popular in Malaysia, South Africa, India, Pakistan, and Indonesia and restricted for European and American residents. In simple words, it is an alternative payment or bonus given to the new trader by the forex broker to help them so that they can trade without any emotions or risk and achieve their ambitions.
Choosing Forex no deposit bonus
It is quite difficult to choose an appropriate no deposit bonus. But if a new trader wants to grow well in the market, he should make the right choice. To select a suitable bonus, the new trader has to choose the right broker.
Choosing a trusted and reputable broker
Selecting the right broker is most important because a good broker can guide a newbie more appropriately, and also the right broker is the key to success in the trading market. For this purpose, a new trader should go through the reviews of the best brokers and choose a broker who has a limited amount of restrictions.
How does it work?
To get the Forex no deposit bonus, the new trader first selects a reputable broker he can trust and then registers an account by providing specific details. Once the account is opened, the bonus is added to the new trader’s account balance by the selected broker. So the newbie with this free capital provided by the Forex broker starts trading money with no risk. In short, the steps included in the work processes of Forex are
⦁ Select a reputable broker.
⦁ Register and open a trading account.
⦁ Bonus is added to the account balance automatically.
List of brokers with no deposit bonus
A forex broker is required to get a no deposit bonus. So, here is the list of some brokers who gives a decent amount of bonus without any deposit, and you can start trading your money to the market. These are the best brokers who guide you about the trading market so you can have a good experience and a high percentage in the market
| RANK | BROKER NAME | BONUS SIZE |
| No.1 | InstaForex | $1000 Free Trading Credits |
| No.2 | XM Group | $30 No Deposit Bonus |
| No.3 | FBS | $100 in Real Money |
| No.4 | Plus500 | $25 No Deposit Bonus |
| No.5 | FXOpen | $10 No Deposit Bonus |
| No.6 | Emporio Trading | $30 No Deposit Bonus |
| No.7 | FXQM | $30 No Deposit Bonus |
| No.8 | Tickmill | $30 Free Funds |
| No.9 | FxPlayer | $100 Risk Free Trading |
| No.10 | FXGaiants | $30 + $40 No Deposit Bonus |
| No.11 | Windsor Brokers | $30 No Deposit Bonus |
| No.12 | Corsa Capital | $100 No Deposit Bonus |
InstaForex
InstaForex was launched in 2007, and currently, it has been controlling more than seven million registered traders. InstaForex also offers the option of copy trading, and its database features consist of more than 11,000 professional traders. Its website also offers new traders a diversity of more than 200 instruments. Finally, the welcome bonus InstaForex provides to the new traders is $1000 in free trading credits to start trading.
XM Group
It is the most regulated and licensed brokerage regulated in the UK, Australia, Cyprus, and Dubai. The XM Group executes the operations with the permission of these regulated authorities. The brokers of this group offer the welcome bonus of $30 to its new customers. The bonus provided by the XM group cannot be withdrawn, but the traders can withdraw the profits earned by them.
FBS
FBS is recognized globally and offers its services to more than 15 million customers. It is regulated by CySEC (Cyprus). The new traders can get a bonus of $100 through which they can start trading. However, the bonus should be utilized in 30 days.
Plus500
Plus500 is a brokerage that provides services to traders in the market since 2008. It is mainly regulated by the South African FSCA, FCA, and CySEC, with others. In 2019, Plus500 regulated more than 35 million new customers alone. Currently, it provides services to almost 200000 new traders. It also offers its new customers trade with commodities, cryptos, currency pairs, indices, and shares. The new traders get a $25 no deposit bonus to start their experience of trading in the forex market.
FXOpen
FXOpen was launched in 2005 and is among the fastest-growing and most trusted brokerages in the Forex industry. It also introduced bitcoin trading in 2014. It offers stock and Forex pairs and a diverse variety of instruments with the help of the Meta trader terminal. The new traders are eligible to get a bonus of $10 without any deposits and can withdraw their earned profit after they reach the trading volume of two or more two lots.
Emporio Trading
Emporio trading brokerage works with international customers and has multiple languages, mainly Spanish, Russian, Portuguese, and English. It also utilizes the Meta trader 5 platform and offers a browser-based version of Web trader. This brokerage welcomes its new customers with the welcoming bonus of $30 who have their account registered and verified.
FXQM
The Financial Services Authority of Seychelles regulates Fxqmarket. It provides a $30 no deposit bonus to its new customers. There is the availability of different accounts in this brokerage that includes Raw ECN account and Standard account.
Tickmill
Tickmill is a brokerage that supports the browser-optimized web trader and offers trading with more than 80 CFD products. The new traders have an option to open a Classic, pro, and VIP account in it. It gives the no deposit bonus of $30.
FxPlayer
Originally it was introduced in 2014 as an STP and ECN platform. Today, it offers many instruments to trade that include gold, silver, indices, copper, and forex currency pairs. It gives a $100 no deposit bonus to new traders to start investing in the market without any risk.
FXGiants
FXGiants always welcome its new customers and allow them to trade on more than 200 instruments. It offers a $30 bonus to new traders who registered their accounts and $40 to those who verify their accounts.
Windsor Brokers
Windsor is a fully regulated brokerage that offers its new customers a bonus of $30 with no deposit and has been known in the trading industry since 1988.
Corsa Capital
It was established by a group of trading experts in 2007. It provides its new customers with a $100 no deposit bonus who registered and opened their real trading account in this brokerage.
Are Forex no deposit bonuses withdrawable?
Forex no deposit bonuses are like leverage for new traders. The new customers who hesitate to invest money in the forex market can start trading with this bonus. But naturally, the bonus given to the trader cannot be withdrawn. However, the traders can withdraw the earned profit from the bonus under certain conditions.
Is it legal in Pakistan?
As the economy of Pakistan is growing, it encourages new traders to start investing in the trading industry. So it is completely legal for the residents of Pakistan to trade in the forex market and grab the opportunity of Forex no deposit bonus and gain experience from it
Pros and Cons
The Forex no deposit bonus advantage is that it gives new traders a chance to test different platforms and experience a clear trading strategy. It also enables a newbie to compare different brokerages and be informed about selecting the right broker. It allows new traders in the market to learn about various instruments.
The weakness of a no deposit bonus is that it provides you with a nominal amount for trading in the market, and sometimes this nominal amount of bonus cannot be withdrawn, and you can get only the profit you earned. One of its weaknesses is that new traders register so many accounts because of the no deposit bonus that it causes a lack of consistency.