While the competition for new investors among global Forex brokers continues to grow, there is an emerging trend where Forex platforms offer new clients a No-Deposit bonus. As the name states, these bonuses are totally free, broker-sponsored funds deposited to new forex trading accounts. As a forex investor, you only need to open a trading account with a Forex broker of your choice, and the no-deposit bonus credited to your account automatically. This bonus allows you to execute orders in real market trading conditions without risks or personal investments.
The no-deposit bonus is a sure way to place yourself on the billionaire roadmap, by joining the largest and most liquid financial market in the world. Forex trading has and will continue serving as a dependable source of income for many investors around the globe.
In this article, we will learn how the No-Deposit bonus is a great option for new investors, standard procedures for getting started and some of the rules to maintain while trading with these bonuses.
What makes the No-Deposit bonus a great option for forex newbies?
The forex no-deposit bonus can be a real value deal, especially to new forex traders. The amount of free forex bonus varies depending on the broker but often ranges between $10 and $100. Nevertheless, here are some ways in which you can benefit from such free cash bonuses on any forex trading platform.
- It brings an opportunity to invest in the forex market without initial investment cost. Additionally, as a trader, you are not required to pay back the broker for crediting your trading account. Forex no-deposit bonus is an incentive given out by the broker, often with the goal to captivate new traders.
- An opportunity to test your trading skills and gain experience – With a live trading account, you get the chance to understand all the indicators and tools on your broker’s platform. This helps you gain more knowledge on forex, and particularly how the platform works. Engaging in real live trading allows you devise investment strategies and check the most effective trading styles, thus gaining more experience in the global forex market.
- A no-risk opportunity to earn money – Even though profits can be relatively small, you can make money from a forex platform without paying a single dime to the broker. And in the worst-case scenario that you lose, you will not incur any personal loss.
Rules to Maintain
While traders can withdraw profits made, it is not possible to withdraw the bonus itself. However, the withdrawal criterion differs and requires that traders meet specific conditions such as trading volume, extra deposits or additional account funding for a successful withdrawal. As a trader whose experience on forex trading is at the micro level, use this bonus to improve your money management skills so that you can deal with large portfolio trading later. Greater portfolios involve higher financial risks and demand more experience on the market trends and factors controlling asset value.
The free no-deposit bonus, however small, is a great deal for those who strive to make the best out of their forex investments. Use this opportunity to your benefit and trade according to the terms and conditions of your broker.
It is important that both brokers and traders learn from their mistakes. As a general practice, coming up with effective strategies and executing them properly is the only way to making more profits. Therefore, before making any decision, research on the benefits and issues associated with no-deposit bonus offers to avoid losses (cash and time).
Final Statement on the No Deposit Bonus
The Forex No-Deposit Bonus is a very effective strategy for promoting brokerage. In fact, startup forex companies that offer these bonuses get known in the market within a few weeks. However, new brokers need proper planning and marketing strategies to ensure such promotion does not backfire and give the company a bad reputation. In the trader’s point of view, the no-deposit bonus gives every trader a reason to join and earn money with the largest and fastest growing global market. Worth noting is that eligibility for no-deposit bonus depends on the broker’s rules. Therefore, make sure you check the terms and conditions. One final tip for traders, take your time, learn forex and invest smartly not excessively.