No deposit bonuses are gifts of free money given away to newly registered traders by certain online forex brokers. Although brokers offer several different types of bonuses, the no-deposit bonus is by far the most popular bonus because it requires no qualifying deposit. Some of the other types of bonuses offered by FX brokers are deposit bonuses, reload bonuses, and refer-a-friend bonuses.
Why Forex Brokers Offer Bonuses
Forex brokers offer bonuses for a number of reasons:
- Competition – There are so many forex brokers in the industry and each forex broker wants to show potential clients that it is the best. One of the ways of doing this is by offering no-deposit bonuses.
- Showcase the Product – No-deposit bonuses serve the purpose of capturing the attention of clients who may sign up just to claim the no-deposit bonus and do some risk-free trading. In this way, brokers not only attract new clients, but also give them a chance to trade for free.
- Incentive to Trade – When an online FX broker offers deposit bonuses, refer-a-friend bonuses, and other types of bonuses to existing clients, it is actually making the trading environment more attractive and giving clients an incentive to stay back and continue to trade.
Best Forex Brokers with Free Bonus Offers
Our team did a bit of research and came up with the following forex brokers with free bonus offers. Traders just have to sign up to claim the following bonus offers:
Free $100 from FBS Forex
FBS.com challenges new traders to kick start their trading career with its Trade 100 Bonus. It refers to this bonus offer as a “tool to tone up the brain.”
Traders who claim the Trade 100 Bonus get the following:
- Free $100 – They get $100 in real money, which they can use for trading.
- Develop Skills – The broker also gives clients a complete set of educational material along with the $100 bonus.
- No Deposit Required – Traders don’t have to make any deposit to claim this bonus. They can even make trading profits out of it.
Terms and conditions apply, and here are a few of those terms:
- The bonus offer is available only on the MetaTrader 5 platform.
- 01 lot is the order volume.
- Traders can withdraw up to US$100 in profits.
- Traders should put in at least 30 active trading days.
- They should have traded a minimum of 5 lots during that period.
Instaforex No Deposit Bonus
Instaforex offers a startup bonus of $1500, and it is a no-deposit bonus. This means that players can claim $1500 without making any qualifying first deposit. They can start trading without taking any risks or making any investments.
This bonus offer comes with the following terms and conditions:
- All new clients of Instaforex are eligible to claim this bonus.
- The startup bonus is not available on cent accounts.
- Clients cannot withdraw their bonus amount.
- However, they can withdraw up to 10% of the profits they make from using the Startup Bonus.
- Clients cannot invest their startup bonus in PAMM accounts, but they can use it to copy trades through the ForexCopy System.
FXTM Titans Demo Contest
ForexTime (FXTM) has brought back its Titans Demo Trading Contest so that players can trade with virtual funds and make real money profits. If they turn out to be one of the top five traders, they can grab up to $10,000 per round. The first round began on Feb 4, 2019 and will end on 29 March, 2019. The total prize pool is $20,000 and the top player gets half of it. The player who finishes second, third, fourth, and fifth get $5000, $2,400, $1,600, and $1000, respectively.
Traders interested in participating must either login to their existing FXTM accounts or create a new one. They should then read and understand the terms and conditions of the contest. Then they should start trading on their demo accounts. The top spot goes to the client who makes the most profits.
This contest works just like a no-deposit bonus as it gives traders the opportunity to trade without risking their own money, test trading strategies, improve their trading skills, and win real money if they make a profit.
Here are some of the terms and conditions of the contest:
- The contest applies only to trading CFDs in precious metals and forex.
- The contest applies only to MT4 accounts in USD.
- Only trade positions kept open for over five minutes are considered.
A-Markets’ Predict to Profit
Traders can be successful only if they learn everything they can about prediction and analysis. Successful traders do not rely on luck, but on hard work and research. To drive home this point, A-Markets has designed a contest called Predict to Profit.
A-Markets will announce the time brackets and financial instruments. It will then receive all the predictions and bets and notify the winners. However, this promotion is meant only for clients who have liked A-Markets’ Facebook page.
If a participant correctly guesses the price, he/she will receive a no-deposit bonus of $100. If nobody makes the correct guess, the five participants who make close-to-correct guesses will receive no-deposit bonuses of $30 each. Participants have to post their predictions only on A-Markets’ Facebook page.
Here are some of the terms & conditions of this promotion:
- Only clients holding verified accounts can take part in this contest.
- Only clients who have never before received a no-deposit bonus can receive the prize.
- Clients can use the bonus fund for trading till they make a withdrawal.
- Clients cannot withdraw the no-deposit bonus.
Conclusion
Forex bonus offers are attractive. However, traders should understand that the brokers design bonus offers with the intention of attracting clients and giving them an incentive to trade. Traders should never make the mistake of considering bonuses to be free money even if the broker uses the word “free” in association with the bonus.
Also, brokers never “give away” any money to traders. The bonus you have received from the broker is still the broker’s money mixed with your deposit amount and you have to do a lot of hard trading to meet the lot requirements if you want to make a payout request. Bonus terms are quite tough and unreasonable at several brokers as a result of which new traders have to spend a long time meeting the lot requirements just to withdraw their money.
Trading experts advise beginners never to claim bonuses. But this does not mean that all bonus offers are bad. To be on a safe side, traders should read the bonus terms thoroughly and clarify doubts, if any, with a customer care representative before claiming a bonus. Our advice to traders is to stay informed, research bonus offers well, get familiar with the fine print, and claim bonus offers only if they can satisfy the lot requirements.