Many Forex brokerages provide their customers with appealing promotional incentives to set themselves apart from the crowd and attract the attention of new investors. Traders often get the chance to redeem deposit-match bonuses, referral bonuses, and no deposit bonuses. The last type easily wins the race when it comes to popularity.
A no deposit bonus is granted to new traders who set up an account with a given brokerage. When available, it can be obtained immediately after registration and does not require depositing funds into your real-money trading balance, or at least not right away. No deposit bonuses are typically small and consist of nominal amounts. However, they are still worth their salt if you are looking to test the platforms of brokerages you are unfamiliar with.
Here you can find a comprehensive list with all free Forex bonuses available online. Choose a broker and start your Forex trading career with zero risk. Below you can read how it works in three easy steps.
- Select a Broker From the List Below and Visit the Website
- Register an Account Providing Your Details (name, country, e-mail …)
- The Bonus is Added To Your Account Automatically
Forex Brokers Offering No Deposit Bonuses
With so many brokers competing among themselves for clientele, sometimes it can be difficult to find the no deposit Forex trading site that best suits your style and needs. The good news is our experts have done all the hard work to make things simpler for you. All fifteen brokers listed below are regulated and offer decent no deposit bonuses.
- $1,000 Free Trading Credits
InstaForex was launched in 2007 and presently has over 7 million registered traders under its wing. The website offers a staggering diversity of more than 200 instruments. Copy trading is also an option at InstaForex whose database features more than 11,000 experienced traders. As for the no deposit bonus, new traders can start with $1,000 in free trading credits.
- $30 No Deposit Bonus
XM is a fully licensed and regulated brokerage that executes trades with the permission of the regulatory authorities of Cyprus, the UK, Australia, and Dubai. The broker offers a $30 no deposit bonus to new customers. The funds are non-withdrawable but traders get to cash out their associated winnings.
- $100 in Real Money
FBS is a globally recognized brokerage that services more than 15 million customers from over 190 jurisdictions, bar clients based in the UK, the USA, and Canada. Registrants can benefit from a very high leverage that reaches 3,000:1. New customers will benefit from $100 in real money to start their trading journey with. The free funds should be used within a 30-day period.
- €25 No Deposit Bonus
Plus500 has been servicing traders since 2008 under the regulations of the FCA, CySEC, and the South African FSCA, among others. In 2019 alone the brokerage handled over 35 million opened positions. It presently services over 200,000 active customers, offering them trading with cryptos, commodities, indices, shares, and currency pairs. Newcomers are treated to a €25 no deposit bonus.
- $10 No Deposit Bonus
FXOpen is one of the most trusted and fastest-growing brokerages in the industry, with a long history that can be traced back to 2005. The company has been offering Bitcoin trading since 2014. It utilizes the powerful MetaTrader terminal and offers competitive spreads for a variety of instruments, including Forex pairs and stocks. New registrants who sign up for STP accounts are eligible for a $10 no deposit bonus. Traders can withdraw the associated profits once they reach a trading volume of 2 lots or higher.
- $30 No Deposit Bonus
Emporio Trading welcomes newcomers who have fully verified their live accounts with a $30 no deposit bonus. The broker’s website caters to international customers with the availability of multiple languages, including English, Spanish, Russian, and Portuguese. The brokerage works with the MetaTrader 5 platform. The browser-based version WebTrader is also on offer.
- $30 No Deposit Bonus
FXQM (short from fxqmarket) is overseen by the Financial Services Authority of Seychelles. The regulated dealer offers over 70 instruments and boasts an average order execution speed of 0.14 seconds. Several account types are available, including Standard and Raw ECN accounts. Both require minimum deposits of $10 and offer a maximum leverage of 1,000:1. You can start trading with no risk with the help of a $30 no deposit bonus.
- $30 Free Funds
Tickmill is a dynamic brokerage that supports trading with more than 80 CFD products at ultra-competitive spreads. Registrants have a choice from Classic, Pro, and VIP accounts. Traders can open and close positions both on their desktop computers and mobile devices. As for the available platforms, Tickmill supports MetaTrader 4 and its browser-optimized version WebTrader. New customers have the opportunity to trade with $30 in free funds, granted as a no deposit bonus.
- $100 Risk-free Trading
FxPlayer was launched in 2014 and originally started as an ECN and STP platform. Today it offers a wide range of available instruments, including trading Forex currency pairs, gold, silver, copper, and indices. Traders at FxPlayer are treated to many useful tools such as an economic calendar, a pip calculator, currency converter, profit and margin calculators. The no deposit bonus of FxPlayer amounts to $100 in risk-free trading.
- $30+$40 No Deposit Bonus
FXGiants welcomes investors from more than 150 jurisdictions, allowing them to trade on roughly 200 assets. Some of the most popular options include currency pairs, commodities, futures, and stocks. Traders from the United States are not welcome here, though. The broker greets newly registered traders with a no deposit bonus of $30 upon successful email verification. Those who verify their accounts over the phone are eligible for $40 on top of that.
- $30 No Deposit Bonus
Windsor Brokers is one of the trading industry’s old dogs, having been established in 1988. Transparency, security, and competitive pricing are the biggest drivers of Windsor Brokers’ success. The brokerage provides a choice from MetaTrader 4 for desktop and mobile and the MT4 WebTrader. This fully regulated trading website gives you a good headstart with a no deposit bonus of $30.
- $100 No Deposit Bonus
Corsa Capital was established in 2007 by a group of trading experts. Its main focus falls on the foreign exchange markets. The company caters to novice traders with various educational materials and tools, including video tutorials, an economic calendar, and demo accounts. Its website supports English and Russian. It offers a no deposit bonus of $100 to each new registrant, who verifies and activates their new Corsa Capital live account.
- $10 No Deposit Bonus
World Forex has plenty of advantages up its sleeve to attract traders with, including withdrawals within a maximum of thirty minutes, the absence of commissions, and the option to autotrade. Additionally, the client-oriented brokerage offers free training, round-the-clock customer support, and a bespoke loyalty program. It has over 350,000 active customers from around 50 jurisdictions. You can start your World Forex experience at no cost by redeeming the $10 no deposit bonus.
- $50 No Deposit Trial Bonus
Mitrade is an award-winning online brokerage that specializes in trading with Contracts for Difference (CFDs). The broker has received authorization from one of the strictest financial regulators in the world, the Australian Securities and Investments Commission (ASIC). It provides negative balance protection to customers who trade with leveraged products. The ceiling on leverage varies between trading instruments but the maximum is capped at 200:1. Registering at Mitrade can earn you a no deposit trial bonus of $50.
- $30 Bonus Upon Registration
IUX Market is the right brokerage for all traders who insist on variety and portfolio diversification. Here you have a choice from over 1,000 instruments, with spreads starting at 0.5 pips and a maximum leverage reaching up to 1,000:1. Novices will benefit from a social trading service that allows them to copy the positions of experienced traders directly in their portfolios. New customers can start for free with a $30 bonus granted upon registration.
Registering an Account with a Forex Brokerage
If you want to claim a no deposit bonus, you need to sign up for a real-money account at your chosen brokerage. The process is rather straightforward and hassle-free as all you have to do is fill in the registration form with your personal information. This typically includes your name, street address, email, telephone number, and birth date.
Regulated brokers are required to ask about each customer’s social security number, their professional occupation, and current status of employment. You should be prepared to answer some income-related questions about your yearly salary and your overall net worth.
If you are looking to trade on margin, i.e. to use leverage, you will have to go through a brief questionnaire regarding your trading expertise, earnings, and experience. Then all that remains for you to do is to activate your live account via the link the brokerage will send to your email.
This usually also contains a username and a password along with detailed instructions on how you can deposit to your new live account. Of course, you can skip on this step if you want to redeem the no deposit bonus. Note there are different account types including ECN and Islamic (swap-free) accounts, so be sure to pick the one that best suits your trading style and preferences.
How to Claim a Forex No Deposit Bonus
Only customers who have undergone successful verification of their live accounts are eligible for no deposit bonus redemption. There is no need to add funds to your balance at this stage. It is worth noting that some brokers require customers to set up their accounts in specific base currencies to become eligible for bonus redemption.
Others also impose restrictions on the maximum leverage you can use when trading with the no deposit bonus. As for the verification process itself, it usually entails sending copies or scans of documents for personal identification. The payment method and your permanent place of residence also need to be verified.
Important Terms and Conditions to Consider
Like all promotional incentives available to online traders, Forex no deposit bonuses come with certain conditions that must be met before you can take full advantage of the free trading credits. The first and most important requirement is to set up a live trading account. New customers who register demo accounts upon arrival are generally not eligible for redemption.
Some Forex brokerages cater with no deposit bonuses only to traders based in specific jurisdictions due to financial regulatory restrictions. The general rule of thumb is that all types of promotional offers are off-limits to customers registering from countries based within member states of the European Union (EU).
Another important condition stipulates the customer must undergo a full verification of their account to become eligible for a no deposit bonus. As far as withdrawals go, traders can cash out the profits acquired from using the free funds anytime they wish. However, most brokerages would require you to make a real-money deposit before you can request a withdrawal.
There may be restrictions on the amount you can cash out in the form of profits. In some cases, the withdrawable sum is determined by the customer’s trading volume. For example, if 1 lot is equal to $1, you will need a trading volume of 100 lots or more before you can cash out $100.
In many instances the maximum withdrawable amount is fixed rather than trading-volume dependent. Traders sometimes have a limited time to meet these requirements, starting from the day of opting in for the offer. However, the exact timeframe customers are granted differs between brokers.
Restrictions apply to the maximum leverage customers can use when trading with a no deposit bonus but these are largely broker-specific. Some brokers would also impose limitations on the maximum trading volume allowed with an active no deposit bonus.
More often than not, the bonus amount itself is non-cashable; only the associated profits can be withdrawn. Of course, you need to trade with your personal funds to unblock the bonus-related earnings. The bonus itself is canceled when the trader sends a withdrawal request and is removed from their account. Few brokers would allow you to cash out both the bonus and its associated earnings.
Since this type of offer aims to incentivize new customers to try the platform and potentially stay with a given broker, each new registrant can apply and receive a no deposit bonus no more than once upon signing up.
The type of account you open also matters with some brokerages and so does the platform you register for. For instance, some trading sites offer this type of incentive only to customers who sign up via the MetaTrader 5 platform. Those who use MT4 are ineligible in this case.
Certain live account types may not be eligible for redeeming a no deposit bonus. The bottom line is you should always make sure you read and understand the promotional terms and conditions or else you might have your bonus forfeited due to violations.
Key Benefits of Using Forex No Deposit Bonuses
There are numerous advantages of using Forex no deposit bonuses, especially if you are interested in online brokerages that do not give you the option to sign up for a free demo account. No deposit bonuses are important, first and foremost, because they offer traders the chance to test a given platform and develop a clear trading strategy.
With these deals, you can open and close positions to test the waters via a broker’s desktop platform or its mobile application before you start investing real money. This type of promotion also enables you to draw comparisons between several brokerages. It furthers decision-making and helps you make a better-informed choice when selecting a broker.
Claiming a no deposit bonus allows novice traders to experiment with new instruments and currency pairs to broaden their knowledge and scope. For example, a rookie trader might have previous experience with the pair USD/EUR while being unfamiliar with USD/CAD. One such person can easily familiarize themselves with the second pair by putting their no deposit bonus to good use.
Cons to Consider before You Opt In for a No Deposit Bonus
As appealing as no deposit bonuses are, they are not entirely lacking in disadvantages. To begin with, you may not be eligible for redemption in the first place when based in some jurisdictions, particularly the EU.
Another weakness of no deposit bonuses is that they usually give you very nominal amounts to trade with for free. The exact amount is brokerage-specific but normally ranges between $10 and $100. This may be insufficient for clients who are complete novices where Forex trading is concerned, even more so if you have to invest at least $5 or $10 per position.
From this perspective, beginners are better off registering a free demo account (if available). The latter would provide them with more time to hone their Forex trading skills. If a customer happens to exhaust the demo account’s balance in full, they have the option to request a reload and start afresh.
Another widespread downside of the no deposit bonus is that often the bonus amount itself is uncashable. The free funds are removed from your account when you request a withdrawal. No deposit bonuses are generally available solely for trading. Only the associated winnings can be cashed out with a cap on the maximum allowed sum in most cases. The winnings are not available for withdrawal straight away, either. You have to cover the minimum required trading volume, which may be an issue for inexperienced investors.
Some traders are in the habit of hunting solely for no deposit offers and end up registering way too many accounts. This habit may be detrimental since it leads to a lack of consistency. Finally, some offers appear too good to be true. If you dig deeper into the terms, though, you may quickly notice the bonus is not as beneficial as it originally appeared to be.