Exploring the Top 4 No Deposit Forex Bonuses

In the world of online forex trading, securing a good deal can significantly enhance your trading journey, and nothing quite piques the interest of traders like a no-deposit bonus. These bonuses, offered by select brokers, allow traders to kickstart their trading adventure without having to deposit any funds upfront.
In this article, we suggest four forex brokers that offer valid no deposit forex bonuses[1]  for South African traders, as well as some of the best ways to choose a broker with a no deposit forex bonus.

What is a Forex No Deposit Bonus?

A no-deposit forex bonus is an incentive offered by brokers to new customers, who open accounts, without requiring any initial deposit. Traders can use this bonus money to trade, but they usually cannot withdraw it directly. Profits made from trading with the bonus can only be withdrawn after meeting certain conditions, like reaching specific trading volumes.

The Top 4 Forex Brokers that Offer Valid No Deposit Forex Bonuses for South African Traders

XM – $30 No Deposit Bonus

For new traders in South Africa, XM’s $30 trading bonus is a great way to start without risking your own money. With XM’s minimum deposit of $5, this bonus can boost your starting funds significantly. Although you cannot withdraw the bonus itself, any profits you make are yours to keep. Plus, the bonus is automatically added to your trading account when you sign up, so you can start trading right away.

Admirals – $100 No Deposit Bonus

Admiral’s no-deposit initiative offers newcomers $100 to engage in trading across any of its four available accounts. This bonus caters to clients who have not yet funded a live account, providing them with a risk-free opportunity to kickstart their trading journey. Notably, traders will appreciate that the bonus is only reduced by profits generated from their trades. This means that if their trades yield no profit, the bonus remains intact and unaffected.

FBS – $140 No Deposit Bonus

The FBS Level Up Bonus offers a no-deposit bonus of $70, which can be increased to $140 upon fulfilling specific requirements. This bonus is particularly attractive to beginner traders seeking to explore the markets without investing their own funds. To qualify for the initial $70 Level Up bonus, traders must register with FBS, verify their email address, and link their Facebook account to their FBS Personal Area. To double the bonus to $140, new clients must additionally download the FBS Trading Broker mobile app and complete the same procedures.

Tickmill – No Deposit Welcome Account

The Tickmill Welcome Account presents a risk-free opportunity for traders, offering a no-deposit trading account with $30 available for trading. This account is accessible to South African residents without the need for full registration or identity verification. However, it has a limited lifespan of 60 days, and while the $30 bonus cannot be withdrawn, profits up to $100 can be withdrawn. Upon initiating any withdrawal, the Welcome Account will be closed, although profits can be utilised [2] to open the Tickmill Pro Account, renowned as the most cost-effective trading account globally.

Traders need to note that the Welcome Account operates exclusively in USD, and the use of Expert Advisors is not permitted, even when utilising the MT4 (MetaTrader 4) trading platform. Furthermore, to facilitate withdrawals or fund transfers from the Welcome Account, traders must complete registration with Tickmill and undergo identity verification.

Conclusion

In conclusion, no deposit bonuses present an excellent opportunity for traders to dip their toes into the world of online forex trading without assuming any financial risk. By choosing a reputable broker that offers a lucrative no deposit bonus, traders can embark on their trading journey with confidence and capitalise on market opportunities.

However, it is crucial to conduct thorough research and choose a broker that aligns with your trading goals and preferences. With the right broker by your side, you can unlock the full potential of online forex trading and achieve your financial objectives.