Best Forex Brokers With No Deposit Bonuses
No deposit bonus brokers offer free trading credit when you open a forex account. They are popular because you do not need to fund your trading account to get the bonus.
To rank the best forex brokers with no deposit bonuses, our team compared:
The size of the bonus
How fast the money is credited to your account
Whether you can withdraw the forex trading credit
The terms and conditions attached to the promotion
The reliability of the forex broker
List of Best Forex No Deposit Bonuses in 2024
- RoboForex: $30 No Deposit Bonus
- ForexChief: $100 No Deposit Bonus
- GOFX: $50 No Deposit Bonus
No deposit forex bonuses are not available to traders in certain countries due to regulatory restrictions, including the EU, UK and Australia.
What Is A No Deposit Forex Bonus?
A no-deposit forex bonus is an amount of money credited to your trading account when you sign-up. Importantly, a deposit is not required to access the funds.
The money is usually credited to your trading account as soon as you register and verify your profile. You can then use the money to speculate on the broker’s assets, such as forex, stocks, commodities and crypto.
Pros & Cons
- A no-deposit bonus allows you to trade forex without risking your own funds
- It can act as a segue way between demo trading and real-money trading
- You don’t need to verify your account to access the trading credit at some forex brokers
- Terms and conditions can make it difficult to withdraw bonus funds or associated profits
- No deposit bonuses can attract beginners and encourage over-trading
- The sum of a no-deposit bonus is usually lower than a deposit bonus
How We Compare Forex No Deposit Bonuses
The Amount Of Money Available
The size of the no-deposit reward varies between forex brokers, but based on our findings, typically ranges between $10 and $100. RoboForex, for example, offers an ongoing $30 no-deposit bonus.
Importantly, the larger the sum, the more capital you have to practice trading currencies.
How Fast The Money Is Credited To Your Account
The best forex brokers giving no deposit bonuses instantly credit your account with promotional funds when you sign-up.
We favor firms that take this approach over new forex brokers that require you to verify your identity first or require you to contact the customer support team. This is because we have found that you sometimes have to wait days to receive the money.
Whether You Can Withdraw The Credit
One of the key factors we consider is any withdrawal stipulations.
In our experience, lots of no-deposit bonuses cannot be withdrawn, and if they can, traders typically have to meet a large volume requirement within a period, such as 30 days. This also applies to profits generated from no-deposit bonus funds.
We favor no-deposit forex bonuses that can be withdrawn or that have reasonable volume requirements.
The Terms And Conditions
We also consider whether there are any restrictions in terms of the account type, trading platform or market you can trade with the credit.
For example, we see forex brokers that restrict bonus funds to MetaTrader 4 (MT4) / MetaTrader 5 (MT5) accounts.
In addition, some forex brokers only allow you to trade a selection of currencies with the credit, such as major pairs. Our team scores forex brokers with the widest market coverage higher.
The Reliability Of The Forex Broker
We have evaluated dozens of forex brokers with the biggest real no deposit bonuses and many are based in tax havens with limited regulatory scrutiny. This can substantially increase the chance of you falling victim to scams.
With this in mind, our experts recommend checking whether a forex brokerage is also regulated by a trusted regulator like the CySEC, FCA or ASIC, as well as its offshore operations. This is generally a good indication that the company is legitimate and reliable.
Importantly, we never recommend signing up with an unregulated or offshore forex broker just to obtain a no-deposit bonus.
FAQ
What Is The Best Forex Broker With A No Deposit Bonus?
We have ranked the top no-deposit forex bonus brokers.
To compile a list of forex brokers with no deposit bonuses, our experts considered the size of the bonus, terms and conditions, whether it can be withdrawn, and how quickly it is applied to your account.
How Do I Get A No Deposit Forex Bonus?
You will need to sign up with a forex broker that offers a no-deposit bonus. After opening an account, you can either claim the offer using a promo code or the funds will be automatically added to your forex account.
Can I Withdraw A No Deposit Forex Bonus?
No deposit forex bonuses can normally only be withdrawn after meeting certain criteria, such as trading 5 lots in a month.
Always check the terms and conditions before opening an account and claiming the offer.
Are No Deposit Forex Bonuses Available Everywhere?
No – regulators in the EU, UK and Australia prevent authorized forex brokers from offering no-deposit welcome bonuses.
Traders in these countries can sign up with an offshore forex broker, but this may significantly reduce the legal and account safeguards available.