If you’re thinking of getting into Forex trading, then you’ve likely already heard of the concept of the Forex no deposit bonus. But what is it exactly — and is it as good of an idea as everyone says?
While you do need to meet certain requirements and make sure that you verify your brokers’ reputation before you accept one, a Forex no deposit bonus is a great way to get your feet wet in the trading world.
In this post, we’ll tell you everything that you need to know about Forex no deposit bonuses.
You’ll also learn where you can go to find out about the latest no deposit free bonus opportunities.
What Is a Forex No Deposit Bonus?
Before we get into anything else, let’s make sure that you understand what exactly Forex no deposit bonuses actually are.
After all, even if you’re getting a great deal, you’re still putting some of your money on the line. So, it always pays to do your research ahead of time — and to make sure that you know what you’re getting yourself into.
In the past, it used to be fairly common for people to get free Forex trades. It was a smart way for brokers to incentivize their customers to place more trades with them in the future.
Unfortunately, the truth is that the concept of a free bonus no deposit required to trade isn’t nearly as common as it used to be.
However, that doesn’t mean it’s disappeared completely. You just have to know where to look.
Some brokers are still giving out no deposit bonuses, also sometimes called a “welcome bonus.”
While you shouldn’t think of them as “free money” to play around with, they are a way for people who are new to the Forex world to practice making trades.
Usually, you start by giving your name and your email address (and in some cases, your phone number) to a broker. You’ll need to create an account with the broker, and the details they need will vary based on their individual requirements.
Once you’ve verified your personal information?
You’ll get a free bonus in your account. In some cases, these Forex no deposit bonuses can be as high as $5000.
What Can You Do with a Free Bonus No Deposit?
Now, let’s look at what taking advantage of a Forex no deposit bonus can do for you.
Without having to put up any of your own money (though some brokers will require a deposit of $10 that you can get back) you can start to make trades.
This way, you can learn the ropes of Forex trading, and if you make a mistake, you won’t have to pay for that error yourself. And yes, you will be trading with actual money, not just fake, digital Monopoly money.
So, what are you able to trade specifically? You’ll be pleased to learn that bonuses are a great way to practice trading on commodities, Forex, and even cryptocurrencies.
We know that this no deposit bonus sounds like a serious win for you as the trader, but a loss for the broker. However, you need to remember that their goal is to get people comfortable with the idea of Forex trading.
When you know that it’s not actually your own money that’s up for a loss, you’ll be much more likely to practice — and get hooked. Once you get the hang of it, you’ll be surprised by not just how lucrative, but also how fun trading Forex can be.
But What About The Profits I Made?
So far in this post, we’ve only spoken about how Forex no deposit bonuses will benefit you if you lose money.
Of course, we also know you want to understand what happens if you actually make a profit! Will you be able to claim it? Or because it was never really “your” money in the first place, will it go right back to the broker?
One of the best things about taking advantage of these opportunities is that you’ll actually be able to keep the profits that you make. Most of the brokers, however, will require you to deposit a certain sum of money into the account before you are allowed to withdraw the profit.
Some brokers have stricter rules and regulations. You might need to trade certain volume of the trade before you are eligible for the profit withdrawal.
Nevertheless, as long as you abide by the terms and conditions of the no deposit bonus, you might be able to make a small sum of the money at the end of the day.
Understanding Forex No Deposit Bonuses: What’s Next?
We hope this post has helped you to better understand not just what a Forex no deposit bonus is, but also why it’s such an awesome way to get into the market.
You literally have nothing to lose — but you might also discover a lucrative and fun new hobby.
Of course, getting a grasp on no deposit free bonus opportunities is just one small part of the larger Forex world.
We wish you good fortune in acquiring the no deposit bonus.