Forex is a market that abounds in bonus opportunities. Now and then, traders can spot one or the other bonus or promotion offered by a certain broker. The bonuses vary from regular to somewhat unusual bonuses. This review’s focus will be on the no deposit bonus, one of the common bonus types in the market. The Forex business would not be the same without the bonuses, and probably, it would not enjoy half the popularity it does without them. The bonuses attract traders and keep them in the market. They are an efficient tool for successful marketing strategies employed by Forex brokers. Broker companies know how to attract new customers and what it takes to trigger people’s interest.
Bonuses in General
Bonuses have been a part of the market since its establishment, and they will stay a magnet for people around the world. Everyone loves bonuses, either in the form of a coupon or cash. People tend to perceive bonuses as free gifts, and nobody rejects such gifts.
The No Deposit Bonus in the Forex Market
The Forex market provides a dynamic surrounding for all Forex traders who sometimes need all the support they can get from their broker. Many traders leave a lot of money in the Forex market, and they deserve a gesture of appreciation from time to time. The welcome, deposit, and no deposit bonuses count to the most popular and widely- known bonuses. All of them offer a kind of special treatment. The no deposit bonus counts to one of the favorites because the bonus does not come with any obligations on the part of the trader. The no deposit bonus is a type of welcome bonus because it is handed out only to beginner traders. Unfortunately, this bonus is given only once. The bonus represents a generous gesture to welcome new traders to the market and to let them taste their first real trades on the expenses of the broker. Many newcomers are grateful for the bonus, and as soon as they have access to it, they gladly use it for trading. Please note that the trading bonus cannot be withdrawn in cash. First, traders have to make a few trades, and if they win a profit based on the bonus, then they can securely withdraw their profit with no further obstacles. The goal of the no deposit bonus is not to reward traders just for signing up and not returning to their account, but to stimulate beginners to trade. That is why the bonus comes in the form of trading credit. As already stated, if you earn something with the bonus money, then you are entitled to it undoubtedly.
How to Get the Forex No Deposit Bonus?
First, sign up with a broker you find convenient and see if they offer a no deposit bonus (the majority does). Once you did that, register with an account, verify your identity and apply for the bonus. The bonus money will be transferred to your account as fast as possible (sometimes immediately, sometimes tomorrow, etc.). Once the money appears in your account, feel free to brush up your trading skills on a real trading account at the expense of your broker. Place a trade or two, with no risk of loss of your own money. If you lose the bonus amount while trading, you have no obligations towards your broker. This bonus makes the first steps in the real market much easier. Traders are not required to deposit or invest any money, and they can trade risk-free. This is one of the greatest benefits the bonus provides.
Terms and Conditions
All new traders should read the terms and conditions that refer to the no deposit bonus. If you do not do that, you might be unpleasantly surprised by the many conditions imposed upon you as a trader. The professional brokers have a decent policy on the no deposit bonus, but this does not mean that you can withdraw the bonus without fulfilling certain criteria. One of the general requirements related to the no deposit bonus is that the trader has to invest the bonus money in trading. Another condition by some brokers is that traders have to trade a certain amount of trading rounds to qualify for the bonus withdrawal. The number of trading times required can vary from 5 times to 30 times. This decision depends on the broker’s no deposit bonus policy. Some of these conditions can sound harsh, especially to beginners who do not know yet how the market works. The best thing is to calculate if the bonus requirements will end up more costly than the bonus amount. If that is the case, you should look for another broker. Sometimes, the brokers are not to be blamed either, given that they try to reduce the risk of abuse on the part of the traders who would just sign up to collect the bonus and never show up again. Our advice is to carefully read the terms and conditions and to decide whether it is worth applying. You might even want to consult some experienced traders in your surroundings. Many brokers set an expiry date on the bonus. This means that you should have made few trades before expiry time. For example, you cannot let the bonus lie around for two months if it expires in one. Take into consideration to use the bonus timely. Many brokers reserve the right to change the terms and conditions without providing reasons for it. It takes a really good broker to be able to turn the bonus to your favor.
Reliable No Deposit Bonus Brokers
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What’s in it for the Broker?
The no deposit bonus is part of the regular bonus package with the purpose to attract as many potential traders as possible and to turn them into real traders. Bonuses are one of the major marketing tools here, which increase the customer base. That is one reason how brokers benefit from this bonus. Also, these bonuses come with certain requirements that are always connected to the trading activity, and sometimes to reach the requested trading volume, some traders have to make additional deposits. In that way, it can happen that the deposit money ends up being bigger than the bonus money. This is, again, an advantage for the broker. Not to get it wrong, the majority of professional no deposit Forex brokers will have a bonus policy that works for your benefit too. They promote no deposit bonuses to increase their customer-base and because they care about their reputation.
What Does Forex No Deposit Bonus Look Like?
This bonus cannot be given in percentage, but it can be given in cash. The no deposit bonus comes in the form of a fixed amount specified by the broker. Some brokers offer only $5, others offer $500, etc. We see that the bonus cannot be reduced to a price frame given that every broker decides on the amount. Very high no deposit bonuses are the ones that require particular attention when it comes to terms and conditions. Traders should check if the withdrawal requirements are feasible at all. A majority of the brokers stick to the so-called medium amounts like $25, $30, or $50.
More Forex Brokers Bonuses
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This review gives traders an insight into the no deposit bonus policy of many brokers. The review reveals the sometimes harsh bonus conditions, but also the advantages of the bonus system. In the end, a majority of traders finds no deposit Forex bonuses extremely helpful, which means that they are efficient and boost profits, regardless of the requirements.