Forex trading without deposit | No deposit bonus explained

Start Forex trading without depositIt’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 a free no deposit bonus offered by the top Forex brokers, you can start trading without a 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, which offers their services within the US and is known to be one of the best brokers in the world.

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 a free Forex trading account with real money, 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 join Forex trading now. 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 the 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 start Forex trading without investment is a good way for ensuring success in the long run.

No Deposit Forex BrokersHow 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: a free Forex trading bonus without deposit is most frequently offered by unqualified 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!

Best no deposit bonuses available on the market

The best way to determine a suitable broker with no deposit bonus would be to carry out thorough research on the credibility of the best brokers on the market. Finding professional, detailed reviews on the brokers and bonuses is extremely helpful, as the reviews point out key factors to pay attention to so that none of them slip through your sight. Moreover, often those bonus programs are limited in time and are not always present on the market. Therefore, constantly updating reviews will make sure that you get acquainted with up-to-date information regularly. We have prepared a table on which broker offers the best trading app without deposit and top no deposit bonuses currently offered by the Forex market below.

XM

XM 30 USD No Deposit Bonus – Claim here

Size

30 USD

Platform

MT4, MT5, Web

Min. volume

N/A

Action

SMS

Tickmill

Tickmill $30 Welcome Account

Size

$30

Platform

MT4

Min. volume

N/A

Action

Email

FBS

FBS Trade 100

Size

$100

Platform

MetaTrader 5

Min. volume

5 Lots

Action

Verification

EasyMarkets

EasyMarkets No Deposit Bonus

Size

25 EUR

Platform

MT4

Min. volume

N/A

Action

SMS

Grand Capital

Grand Capital No Deposit Bonus

Size

$500

Platform

MT4

Min. volume

N/A

Action

SMS

FreshForex

FreshForex Deposit Bonus

Size

N/A

Platform

Web

Min. volume

N/A

Action

N/A

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 opportunities to trade without deposit have their time and place; one just has to seize that exact moment.

FAQ for trading without deposit

Can you start trading for free?

You can absolutely start trading Forex for free contrary to the common view that starting Forex trading requires considerable amounts of money. However, it does not mean that you can start anywhere and any time you want without making any investment. You can start trading for free only if you find a broker that offers no deposit bonus, meaning that you can trade without making an investment or deposit. No deposit bonus is usually a welcoming bonus for the new clients and can be anything between $5 to $30, which will be credited to the user’s trading account. However, it does not mean that the no deposit bonus is a hack into how to make money in Forex without actually trading since you would not be able to withdraw the bonus money only. If and whenever you generate the profit with the bonus, then you are able to withdraw the profits, but pulling out no deposit amount without ever trading is not allowed.

Can you make a living trading Forex?

There are a lot of people who make more than living thanks to a profitable business in the Forex market. Obviously, the answer to the question depends on how successful your trades will turn out. In case, you construct a plan and come up with a decent strategy of trading, you have greater chances of succeeding and generating profits enough to cover all of your living expenses and retain extra money. On the other hand, not many traders know how to start a Forex business and avoid the risk of losing all of their financial resources due to inexperience, greed, or rushed decisions. They say that people with discipline, patience, and decent intuition are the most profitable traders on the market. If you look at the world’s number one trader in Forex – George Soros, who earned 8.3 US dollars worth of fortune thanks to his ingenious plans in Forex trading, you will understand that there are no upper limits to how much you can make trading Forex. But at the same time, there are a lot of examples of how famous traders lost scary amounts of their finances due to miscalculation or impulsive trading. Therefore, every inexperienced or even intermediate trader would have to consult with the professional or cooperate with the top Forex broker, as Forex trading without a broker is very unprofitable and risky.

Which brokers offer no deposit bonus?

There is an increasing number of brokers who offer various bonus programs globally, however, not all of them can be trusted. Most of the brokers, that will display unbelievably convenient bonus schemes will appear to be scam companies. As bonus programs are not something that is caused by the generosity of the brokerage firms. You should always check the credibility of the broker twice before opening a trading account with it. The most important factor when deciding the reliability of the firm is its license or regulation. If the firm is not regulated by the official authority or regulatory body, then you should avoid it at all costs. The best trading app without investment requirement at the moment is XM Forex broker, which offers no deposit bonuses to its new clients. The XM has a reputation as a trustworthy and professional broker for more than a decade now and never deceives its customers when offering promotions, bonus programs, and schemes. No deposit bonus of XM amounts to 30 USD and can be claimed by several countries’ residents. The rules of the bonus are displayed on the official website of XM and state a clear description of the eligibility for claiming the bonus, as well as, the withdrawal conditions. Any verified client on XM will be able to withdraw the profits generated when trading with the no deposit bonus at any given moment. Therefore, XM is the best answer to how to trade without money as a beginner in Forex.