No deposit bonus forex south africa

Ranked #1 no deposit bonus forex broker following are some tips on how to best use the no deposit bonus:

Top-3 forex bonuses

Best No Deposit Bonus Forex Brokers 2020, no deposit bonus forex south africa.

1) all forex brokers that offer no deposit bonus will have the terms and conditions about it – including conditions for withdrawing profits made with the bonus. So carefully read all the terms & fine prints, understand all those conditions before signing up.

Best no deposit bonus forex brokers 2020

We've listed the top no deposit bonus forex brokers that offer bonuses ranging from $10 to $100.

In forex trading, an initial capital is required to open a live account. This capital is used to place orders in the market.

No deposit bonus by a forex broker is a service extended in form of free capital that the trader gets in his/her real trading account while starting to trade with the broker. This free capital is the bonus given by the forex broker, so you can start trading without risk of investing your money.

These “no deposit bonus” programs are mostly offered by brokers to attract new customers. But, as these “no deposit bonuses” are provided free of charge, there are certain guidelines, withdrawal restrictions etc. That depend from broker to broker.

Although there are quite many bonus programs out there, but we have only listed the no deposit bonus by forex brokers that are popular & well regulated globally.

Best no deposit bonus forex brokers in south africa for 2020

XM – $30 no deposit forex bonus

Fxopen – $10 forex bonus

FBS – $100 no deposit bonus

Tickmill – $30 no deposit bonus

Hotforex – 100% first deposit bonus (on $250+ deposit)

Best no deposit bonus forex brokers compared

We have compared the bonus conditions & terms for all the forex brokers that offer no deposit bonus to south african traders.

1. XM no deposit bonus – $30

Overall rating 9.0/10

Benchmark EUR/USD spread: on average 1.5 pips.

Welcome bonus: $30 (profits can be withdrawn)

Regulation: ASIC

Ranked #1 no deposit bonus forex broker

XM broker gives a $30 “no deposit bonus” to new traders only if you sign up for it via their special page. XM is a reputed broker so they are considered safe.

Getting XM broker’s $30 no deposit bonus is a straightforward process and the amount is credited to the trading account after registration and account verification. This bonus can be used straightaway to start trading with access to the MT4 and MT5 platforms. This account would also provide access to MT4 live trading without making any further deposits.

Note: it should be kept in mind that this bonus cannot be withdrawn, only the profits made can be withdrawn provided certain volume conditions & terms are met.

2. Tickmill no deposit bonus – $30 (not available currently in SA)

Overall rating 8.0/10

Benchmark EUR/USD spread: on average 1.6 pips.

Welcome bonus: $30 (profits can be withdrawn)

Regulation: FSCA, FCA

Ranked #2 no deposit bonus forex broker

Tickmill is a FSCA regulated forex broker, and also regulated by multiple top tier regulators including FCA. So they are considered safe.

Tickmill was founded in 2014 and offers attractive trading conditions. They provide various trading instruments like forex, stock indices & oil, precious metals and bonds. They provide MT4 and webtrader platforms. They are regulated with top tier bodies like FSA SC, FSA UK, and cysec.

Update: tickmill’s ‘no deposit bonus’ is not available for traders in south africa currently. New traders can signup for a live account with $30 as a bonus into the trading account. This trading account has trading conditions similar to the pro account, benefits of which include low spreads and commission, multiple asset classes, etc. A point worth noting here is the use of expert advisors (eas) is not allowed on welcome accounts.

Tips for wisely using the no deposit forex bonus

It is very easy to see the no deposit bonus as free cash, but it is not. In most cases (with reputed brokers) there will be many terms levied by the broker before you can withdraw any profits made with the bonus.

Traders should treat this bonus as a trading investment to learn and apply their trading strategies in real market conditions.

Following are some tips on how to best use the no deposit bonus:
1) all forex brokers that offer no deposit bonus will have the terms and conditions about it – including conditions for withdrawing profits made with the bonus. So carefully read all the terms & fine prints, understand all those conditions before signing up.

If there is any ambiguity in the terms and conditions, make sure to clarify the doubts with the broker before opting for the broker.

2) some broker may offer bonus that would seem to be really attractive. However, the broker’s reputation & regulations should be considered before choosing any such broker, even in case if it is a free bonus. An exciting bonus should not be the only point to start trading with the broker.

3) always keep in mind that the no deposit bonus is an initial capital for trading and not free cash which can be used otherwise.

The real intention here is to trade properly and earn profits. One should be clear about their trading goals. Hence, we should keep our trading strategies and requirements in mind in order to put the bonus to its intended use.

No deposit bonus is a win-win situation for both the broker and the customer. While the broker will increase its customer base, the customer can train oneself and gain useful insights from trading by using the free bonus.

However, you should be mindful of not falling into false traps and see it as investment capital. You should instead wisely use the bonus to learn trading with a reputed broker & test your strategy in real market conditions.

Frequently asked questions: no deposit bonus forex brokers

Which forex brokers offer no deposit bonus in south africa?

Many forex brokers offer no deposit bonus & most of them accept SA based traders. But we have only reviewed & tested the welcome no deposit bonus by 3 popular brokers:

XM – $30 bonus: ASIC regulated broker.

Fxopen – $10 bonus: FCA regulated broker.

FBS – $100 no deposit bonus FCA regulated broker

Can I withdraw the no deposit forex bonus?

This depends on the broker, but generally the profits made with trading bonus are withdraw-able provided some conditions are met. Almost all brokers that offer no deposit welcome bonus impose strict terms & trading volume requirements before you can withdraw any profits.

It is best to read the terms of the bonus before signing up, so that you don’t get surprises later.

Are no deposit bonus brokers safe?

Unfortunately not all brokers are safe. Most brokers that offer no deposit bonuses are not trusted. That is why it is really important to only choose a broker that is reputed & well regulated. If a regulated & popular broker is offering no deposit bonus then there are lesser risks.

As per our check XM broker, fxopen are brokers that are regulated with at-least 1 top tier regulator & offer no deposit bonus. But you should still carefully read terms of these brokers before signing up for any of their bonus.

No deposit bonus brokers comparison summary

Here are our 3 recommended best no deposit bonus forex brokers for 2020.

Trading cfds is risky. Your capital is at risk.
Disclosure: we earn a commission if you sign up with a broker through referral links in this review. This helps us cover the expenses for running the website.

XM $30 welcome no deposit bonus

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Risk disclaimer

Risk warning: trading leveraged instruments such as forex & cfds are risky and can result in lose of your capital. Read full risk disclaimer..

What is no deposit bonus and how to choose the best one

Welcoming bonuses are one of the most popular ways for brokers to attract customers. It has some of the best advantages you can think of – you get free money on your account that you can use for stress-free trading, it gives you the possibility to test out the broker as well as yourself and get the full experience of how trading actually works. At the same time, it is good for the brokers as they can stand out from others.

Thus, forex free no deposit bonuses are popular worldwide. But even so, sometimes it can be very hard to find a good deposit bonus as all of them come with certain conditions. Even more, there might be a scam broker behind it. Since it is a very common practice and since the no deposit bonuses are very popular I decided to explain what they are, how do they work, why it is a good idea to take it and where to find the best south african no deposit bonus conditions.

What is a no deposit bonus?

If you’ve been searching for a new broker to trade with you would see that some of them are offering welcome no deposit bonuses to new customers. It is kind of a greeting for newly registered users. The amount of these bonuses are not very high and mostly varies between ZAR 400 and ZAR 700, some broker can offer higher bonuses as well. Why would the broker offer me free money? – you might ask. There is a simple explanation for it. Offering no deposit bonuses is a very good way for brokers to attract new customers. Let’s put it this way: you have spent hours to find a good broker to start trading with, out of thousand brokers you ended up with two that you evenly like and now you need to decide between them. One of these brokers is offering the welcoming bonus of ZAR 400. The other brokerage does not have a bonus. In this situation, it would be logical if you choose the broker that is offering free no deposit bonus. The reason is quite simple, as it helps to determine the quality of the company as mentioned earlier.

How do no deposit bonuses work?

Welcoming bonuses are easy to get and easy to use as well. After registration, in many cases, you will need to verify your account. However, you can find forex no deposit bonus without verification as well. When you finish the whole registration process the bonus amount will be transferred to your account automatically. Usually, it takes a short time but in some cases, it might take up to 24 hours. The best thing is that you do not need to deposit any money on your account in order to receive it. When the bonus is transfered, you can start trading immediately. You do not need to worry about losing if your trades end up being a loss, however, if you trade successfully you will receive the profits. This is another big advantage of the no deposit bonus. Speaking of advantages, let’s discuss it more broadly.

Advantages of forex no deposit bonuses

A great thing about no deposit bonuses is that it is equally accessible for both experienced and beginner traders. Everyone can claim and use the welcoming bonus when creating an account with the new broker. It also means that traders with all the levels of experience and even without any of it – can find something that is good in it.

Stress is one of the major factors that hinder the traders while trading, it happens to everyone but is most common among the inexperienced traders. The stress is of course due to the risk of losing the trade and therefore losing the money. While trading with no deposit bonus one can be free from the risk and stress. Did you lose all the bonus money? That’s okay. It was not the money from your pocket. Therefore there’s nothing to worry about.

You get the profit

There are other ways to trade without risks and stress, but all of them have the same thing in common -they are not profitable. It is mostly done with demo/practice account. With the forex no deposit bonuses you can trade without stress and at the same time get real profit from it.

You get to know the broker

Getting to know the broker is one of the benefits of the welcoming bonuses. Even if you devote a lot of time towards choosing the right broker, the trading experience could be completely different from the results of your research. Using no deposit forex bonuses offered by south african brokers is a good way to determine if it is a reliable broker, if conditions, support, and withdrawal terms are acceptable for you before you decide to commit to long-term trading.

You test the platform

Another thing you would like to try out beforehand while still gaining the profits is the platform that the broker is offering. Just like any other features of the broker you can see if the platform suggested by it is the one you want to trade on.

As you can see, free no deposit bonus does not come only with free money to trade with but with some other great opportunities as well.

Be careful while choosing

As I have mentioned above, there is a high chance that when you have a choice between the two brokers it is more likely that you will choose the one that offers the welcoming no deposit forex bonus. Brokers know that as well. This is why there are many scam brokers that might want to attract your attention with high bonuses. Therefore there are some necessary steps you should take before applying for no deposit bonuses. First things first, the brokerage should be reliable. It is hard to choose the good broker between so many scam or not-that-good ones and it might take a lot of time. But believe me, it is better to spend more time on research in the beginning than lose time on trying to get your money back from the scam broker afterward. It might be a nightmare! Therefore choose the best broker in south africa that offers no deposit bonus to its customers before you commit to it.

To choose the legit and good no deposit bonus you need to understand the way brokers look at it. There are not many reliable brokers that are offering such bonuses, simply because it can be not profitable for them. Usually, bonuses without deposits are offered by the brokers that have had a profitable period and can afford to give ZAR 500 or so to every eligible customer that will open an account with them. Hence, if you see the broker offering high amount bonus to the customers it might be a red flag for you. In forex trading, bigger is not always better. Hence, if you are seeing one broker offering ZAR 400 and the other ZAR 3000 it is not a good idea to rush the larger amount immediately, it can very easily turn out to be a scam! So when you find it, don’t just think you got lucky, check the broker, see its website, number of traders and check the review, then ask yourself – can this broker afford the high bonus it offers?

To find the best forex free no deposit bonus you need to dig deeper. And with it, I mean the terms and conditions. The broker is not your kind relative that will give you cash on your birthday to enjoy. The bonus money you are getting comes with certain conditions that you need to fulfill to be able to profit from it. The main requirement is the trading volume. The broker is setting a certain volume of the traders that you need to make when you are using the bonus. This rule applies to every broker, but the volumes are always different. There might be two cases

1. The broker sets a deadline and volume of the trades that it is impossible for anyone to meet if the person does not have trading superpowers. If you find that the volume is too high you need to understand that it is a trap for you to deposit more and more money additionally and in the end lose it all. Just if you will somehow be able to gain some profit, the most cases withdrawal will not be possible for you.

2. It might be the case that volume is high with good brokers as well. It will be more reasonable than with the scammer brokers, but still high. If you see that the broker has reasonable volume, but still seems high for you, it means that you still lack the experience for it.

Another thing to consider is forex no deposit bonus withdrawal rules. Getting the bonus is very easy, it must be easy to get the money from the account as well. But do not be mistaken here, you cannot withdraw the initial deposit money that was given to you. At the same time, if you make profits and withdraw the money, the initial deposit will be proportionally reduced. Therefore when I talk about no deposit bonus withdrawal, I mean the withdrawal of the profits made from it.

If you have fulfilled all of the conditions that were required it should be very easy to withdraw the profit from your account. Just like in any other case. However, things are different with scam brokers. Just imagine, you get the bonus amount on your account, you trade and do everything that is required, your trades were successful so you got some profit which you want to withdraw and strange things start to happen. You make the withdrawal request but it is unavailable, you get a response that you have violated some of the laws and cannot get the money, or they transferred the money but it is nowhere, or they simply do not let you know anything and do not answer your emails or calls. Trust me, you would love to avoid it all, therefore make sure to always read the withdrawal terms and conditions well. If it is too complicated and unreal – leave it and search for a better south african forex no deposit bonus with a better company.

How to find the best south african no deposit bonus?

Okay, now you know what no deposit is, how it works and what you need to pay attention to when choosing it. But how to find the best south african no deposit bonuses available for SA traders?

First of all, and you should have already guessed it – do thorough research and avoid any promotional campaigns. The bonuses depend on how profitable the brokers are, therefore there are certain times when no deposit forex bonuses are available. If you have already chosen one or two brokers you want to trade with, make sure to check their websites time after time. Also, it is a good idea to subscribe to their newsletter, many large brokerages have newsletters that often include promotional offerings as well. This way you will always be the one who will get the latest updates first.

FOREX NO DEPOSIT BONUS

A forex no deposit bonus is “free money” that brokers offer new traders to encourage them to start trading forex on a live account. It’s given solely to new traders as a ‘welcome bonus’.

A no deposit bonus is regarded as a powerful leverage available to new traders and allows them to start trading forex almost instantly without an initial investment. It does come with rules and restrictions and new traders qualify for the bonus based on certain criteria.

Forex no deposit bonus is common practice in south africa, malaysia and indonesia but isn’t available to residents in the eurozone and united states. It incentivises new traders to switch over to a real forex live account from a demo account without massive financial risk.

This type of forex trading promotion is available to new traders who meet certain requirements to open a real forex account and the free money can only be used under certain trading conditions, as specified by the broker. Forex traders cannot withdraw the free bonus money that’s put into their account by the broker.

10 best forex no deposit bonuses in south africa ( updated 2021 )

What does a no deposit bonus entail?

The forex no deposit bonus means a new trader does not need to make a deposit to activate a real live account and in effect, gets ‘free money’ to begin trading. The bonus amount is usually small, ranging from $10 to $50.

The ‘welcome bonus’ encourages new traders to open a live account with a broker and place more trades in a short period of time, while limiting their risk of losing their own money at the start.

After providing your name and email address to a broker, a real live trading account is opened. Some brokers require documents such as utility bills, ID or proof of residence to verify a live account. Some open an account with a no deposit bonus without verification.

Thereafter, ‘free money’ in the form of a no deposit bonus is deposited into the account. How much you receive depends on the broker’s promotional offering. It can be as high as $50.

Who qualifies for a no deposit bonus?

The no deposit bonus is only offered to first-time forex traders who sign up and register an account with a broker who offers the promotion. If you’ve been given a no deposit bonus before by a broker, you are not entitled to it again.

Trading with a no deposit bonus

Once the deposit is in your account, you can start trading live and in real time on the forex market. Continuing on from trading through a demo account, a new trader can experience real live trading without risk until the bonus period ends. Mistakes made don’t cost the new trader money out of his or her pocket but it is a loss to the broker.

Why do brokers offer a no deposit bonus? Well, it’s part of a broker’s long-term relationship to build a client’s confidence and experience live trading on multiple financial instruments while minimising risk in the early days of trading. New traders are more inclined to trade more often with ‘free money’ and gain invaluable experience before making a deposit with their own money.

Why do brokers offer a no deposit bonus?

A no deposit bonus is also known as a ‘welcome bonus’ and is a popular method used by brokers to attract beginner traders and encourage them to trade multiple financial instruments using a real live account.

Most new traders begin their forex trading journey using a demo account. A no deposit bonus is the perfect incentive for beginners who want to practice trading forex with a real live account but are wary of using their own money.

New traders get the opportunity to actively engage in the forex market for a period of time and keep any profits made at the end. The no deposit bonus expires after 30 or 60 days, depending on the broker’s bonus conditions. This puts new traders under pressure to make full use of the ‘welcome bonus’ before it ceases to exist.

Restrictions on forex trading with a no deposit bonus

Having given you ‘free money’, the brokers are entitled to apply certain restrictions on trading with live account. They’re no onerous restrictions and are designed as much to protect you as themselves.

Brokers offering no deposit bonuses to first-time traders restrict their clients from opening orders with a large lot size. Typically, the maximum limit for a lot size is 0.01 lot.

The downside of a limit on the size of a lot is it makes it harder to make a profit.

Maximum active positions

Certain brokers who offer no deposit bonuses set a limit on the number of active positions that a new trader is allowed to open. This may include pending orders.

This limit does affect a trader’s trading strategy and can somewhat spoil the trading experience when a new trader cannot open more positions, particularly if he or she is using the trend-following method.

Limit on assets traded

Certain brokers who offer no deposit bonuses specify which trading currencies may be traded, particularly in a volatile market situation. Typically, new traders are restricted to the mainstream trading pairs and can’t trade on exotic pairs.

Time limit on no deposit bonus

A no deposit bonus usually has a time limit and will expire after a certain period of time. It’s important to find out what this time limit is because you need to get in as much trading time as possible with the ‘free money’ before you need to commit your own money.

Typically, the time limit on a no deposit bonus is between 30 to 60 days. The longer, the better so shop around for a broker who offers a ‘welcome bonus’ for a 60-day period. This gives you ample time to practices forex trading on a real live account.

Hedging is not allowed

As a general rule, hedging is not allowed when trading on an account with a no deposit bonus. Hedging involves having two trades open at the same time but in different directions.

Hedging is used in certain trading strategies and generally provides short-term relief for forex traders. Hedging helps to temporarily eliminate or minimise risk in the forex market.

Scalping is not allowed

As a general rule, scalping is not allowed when trading on an account with a no deposit bonus. Scalping is a popular trading strategy that allows traders to potentially earn small amounts of profit many times a day. The profit is usually between 5 to 10 pips.

Scalpers hold an open position for a very short time which is a good strategy to use in volatile market conditions. Many small pips can add up to a comfortable profit. The reason why brokers do not encourage scalping on a no deposit bonus account is because it can very quickly deplete the funds in the account.

Leverage is limited

Leverage is usually limited on an real live account with a no deposit bonus. Leverage is where a small amount of money is borrowed from the broker to trade a larger forex position. Leverage is key to trading forex.

When leverage is limited, it means a new trader cannot open a large position. It lowers the trading volume and increases the amount of trades a new forex broker must make to realise a decent profit, if only using the no deposit bonus amount in the account.

Expert advisors are not allowed

Expert advisors (eas) may not be used on a real live account that’s been set up with a no deposit bonus. Eas can be likened to robot trading, where forex trading is automated.

Eas are very useful for beginner forex traders because they simplify the trading process, which includes opening and closing a trade and analysing forex market conditions using indicators.

What happens to profits made trading with a no deposit bonus?

One would think that the brokers would take any profits made on a new account with a no deposit bonus, but here’s the good news; you pocket any profit made. Further proof that brokers are committed to supporting new traders on their forex trading journey as they switch from a demo account to a live account.

You are welcome to withdraw the profit you make but the idea is to reinvest it back into your account and continue trading. You’ll have had enough time to decide if you have an appetite for the risk involved in forex trading and can either continue to trade or you can withdraw the money and call it quits.

As a note of warning, some new forex traders find it difficult to withdraw profits from an account set up with a no deposit bonus. You may be asked to deposit a certain amount of money into the account before you can withdraw profits. The reason for this is simple; brokers want to encourage you to continue trading, not to give up and cash out.

Top 10 forex brokers in south africa : who offers a no deposit bonus

Get a free $10 (1000¢) bonus without making a deposit

Disclaimer

Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. Forex trading involves a high degree of leverage which increases the risk associated with forex trading.

The best forex no-deposit bonuses in africa

Forex bonuses are cash incentives that online forex brokers offer to newly registered traders. Some brokers also offer bonuses to existing clients to encourage them to make another deposit into their trading accounts. Online brokering services offer several types of bonuses and give them away either as cash or percentages of clients’ deposit amounts.

Types of forex bonuses

The following is a brief introduction to various types of bonuses clients come across at online forex brokers:

Welcome bonus – this is the most common variety of forex bonus, given away to clients who have just loaded funds into their trading accounts.

No deposit bonus – this is a bonus given away to newly registered clients just to encourage them to start trading without risking their own money.

Loyalty bonuses – these are offers designed to reward clients who stay loyal to the forex broker.

Forex rebates – the FX broker credits to clients’ accounts a part of the commission or spread after they close positions. While some brokers credit rebates instantly, others do it on a weekly or monthly basis.

Why forex brokers offer bonuses

Forex bonuses serve multiple purposes, and here is a brief list of their benefits:

Forex bonuses give clients the feeling that the broker is interested in their welfare.

No deposit forex bonuses and welcome bonuses serve to attract new clients to online forex brokers, thus expanding their customer base.

Loyalty bonuses give existing clients an incentive to make deposits and continue trading.

Bonuses help minimize the risks of trading as you are trading with the broker’s money, not your own.

Bonuses are marketing tools that not only attract new clients to the brokering business, but also makes them feel special and welcome. In addition, they serve the purpose of client retention.

Bonuses serve the purpose of popularizing the online forex broker and help it to compete effectively with its rivals.

How forex bonuses work

To receive a forex bonus, traders have to either open a trading account or make a qualifying deposit or both. Once you have qualified for a bonus, you may have to wait for a few hours or days for the broker to credit the bonus to your account.

At this point, you should remember that the bonus you have just received is not yours to withdraw. It is still the forex broker’s money, given away as an incentive for you to trade. So you have to “work” for your bonus by completing the required volume of trade.

Top 3 forex brokers offering no deposit bonuses

There are several top-rated forex brokers that welcome south african traders with no deposit bonuses. If you are a bonus-hunting south african investor or trader, we recommend the following top 3 no-deposit forex bonus offers:

#1 get $100 at FBS

FBS offers a trade 100 bonus, which is extremely beneficial for beginners as well as experienced traders. When you claim your trade 100 bonus at FBS, you get the following three benefits:

A real account with real money so that you can start trading instantly

Complete set of educational material so that you can learn everything you need to know about forex trading

Start trading and make profits without making any deposit

The best thing about this bonus is that you can withdraw $100 of profit. All you have to do is register a bonus account and get your $100 no deposit bonus. Spend the next 30 days as an active trader at FBS. The broker wants you to trade five lots. If you succeed, you can withdraw up to $100 as profits.

The bonus offer comes with a few conditions, as follows:

This bonus is available on MT5 platforms.

The order volume is 0.01 lot.

You can open a maximum of five positions simultaneously.

#2 instaforex.Com’s $500 startup

Instaforex.Com encourages newly registered traders to start trading without making any investments or taking any risks. New customers only have to claim the FX broker’s $500 startup bonus. The steps are quite simple:

You have to open a new trading account at instaforex.Com. They don’t have to verify their details.

They don’t have to make any qualifying first deposit.

The forex broker instantly credits the bonus to their accounts.

You can trade seven classes of assets at instaforex—energy, indices, commodities, equities, currencies, metals, and cryptocurrencies. The instaforex trading environment is quite comfortable, featuring the following:

Community of over seven million traders and investors

Fast and secure deposits and withdrawals

Over 400 trading instruments

Order execution speed starts from 0.05 seconds

Fixed spreads without hidden commissions

24/7 customer support

Leverage of up to 1:1000

#3 $30 welcome account at tickmill

Tickmill offers a world class trading environment and gives customers the opportunity to use it risk-free with its $30 welcome account. New clients do not have to make any qualifying first deposits to claim these free funds. They can easily open a welcome account and get their $30 bonus. This gives customers not only a risk-free opportunity to trade, but also to withdraw their profits.

The FX broker disables trading on the welcome account at the end of 90 days after opening it.

However, traders can continue to access their welcome account for 30 more days to transfer their profit from their welcome account to a live MT4 account, which they need to create.

The welcome account is available only in USD, and the broker automatically credits $30 into the welcome account as soon as it is opened.

Forex bonus terms & conditions

As attractive as forex bonus offers sound and look, traders must understand that there is a lot of fine print involved. Before claiming a bonus or even showing any interest in it, traders have to read all this fine print, which they will find on the terms & conditions page.

Here are some of the common bonus terms & conditions:

To become eligible for a bonus, you must be a registered client of the forex broker.

Most bonus offers require a qualifying deposit.

A single bonus offer cannot be claimed multiple times.

Usually, online brokers credit bonuses in separate accounts called “bonus accounts.”

Customers can withdraw their bonus only after meeting the “minimal trading requirements,” which indicates that they should trade the required lots within a given time frame.

Bonuses have expiry dates.

Forex brokers can cancel the bonus under certain conditions.

Conclusion – should you claim a forex bonus?

Making the most of your forex bonus is not as easy as eating cake. In the first place, you should never claim a bonus without first reading the terms and conditions.

You should also remember that you cannot make any withdrawal request until and unless you meet the “minimum trading requirements” of the bonus. You have to trade a lot, depending on the bonus terms and conditions, before you can be allowed to make a withdrawal.

You should also satisfy these requires before the bonus expires. That means a lot of trading, which may not be possible for new traders who either don’t know much about trading or just don’t want to take too many risks.

So, we strongly recommend reading the bonus terms and conditions and clearing all your doubts with the customer support team before claiming a forex bonus. Accept the bonus only if you feel that it will be of any use to you.

The best forex no-deposit bonuses in africa

Types of forex bonuses

The following is a brief introduction to various types of bonuses clients come across at online forex brokers:

Welcome bonus – this is the most common variety of forex bonus, given away to clients who have just loaded funds into their trading accounts.

No deposit bonus – this is a bonus given away to newly registered clients just to encourage them to start trading without risking their own money.

Loyalty bonuses – these are offers designed to reward clients who stay loyal to the forex broker.

Forex rebates – the FX broker credits to clients’ accounts a part of the commission or spread after they close positions. While some brokers credit rebates instantly, others do it on a weekly or monthly basis.

Why forex brokers offer bonuses

Forex bonuses serve multiple purposes, and here is a brief list of their benefits:

Forex bonuses give clients the feeling that the broker is interested in their welfare.

No deposit forex bonuses and welcome bonuses serve to attract new clients to online forex brokers, thus expanding their customer base.

Loyalty bonuses give existing clients an incentive to make deposits and continue trading.

Bonuses help minimize the risks of trading as you are trading with the broker’s money, not your own.

Bonuses are marketing tools that not only attract new clients to the brokering business, but also makes them feel special and welcome. In addition, they serve the purpose of client retention.

Bonuses serve the purpose of popularizing the online forex broker and help it to compete effectively with its rivals.

How forex bonuses work

Top 3 forex brokers offering no deposit bonuses

#1 get $100 at FBS

FBS offers a trade 100 bonus, which is extremely beneficial for beginners as well as experienced traders. When you claim your trade 100 bonus at FBS, you get the following three benefits:

A real account with real money so that you can start trading instantly

Complete set of educational material so that you can learn everything you need to know about forex trading

Start trading and make profits without making any deposit

The bonus offer comes with a few conditions, as follows:

This bonus is available on MT5 platforms.

The order volume is 0.01 lot.

You can open a maximum of five positions simultaneously.

#2 instaforex.Com’s $500 startup

You have to open a new trading account at instaforex.Com. They don’t have to verify their details.

They don’t have to make any qualifying first deposit.

The forex broker instantly credits the bonus to their accounts.

Community of over seven million traders and investors

Fast and secure deposits and withdrawals

Over 400 trading instruments

Order execution speed starts from 0.05 seconds

Fixed spreads without hidden commissions

24/7 customer support

Leverage of up to 1:1000

#3 $30 welcome account at tickmill

The FX broker disables trading on the welcome account at the end of 90 days after opening it.

However, traders can continue to access their welcome account for 30 more days to transfer their profit from their welcome account to a live MT4 account, which they need to create.

The welcome account is available only in USD, and the broker automatically credits $30 into the welcome account as soon as it is opened.

Forex bonus terms & conditions

Here are some of the common bonus terms & conditions:

To become eligible for a bonus, you must be a registered client of the forex broker.

Most bonus offers require a qualifying deposit.

A single bonus offer cannot be claimed multiple times.

Usually, online brokers credit bonuses in separate accounts called “bonus accounts.”

Customers can withdraw their bonus only after meeting the “minimal trading requirements,” which indicates that they should trade the required lots within a given time frame.

Bonuses have expiry dates.

Forex brokers can cancel the bonus under certain conditions.

Conclusion – should you claim a forex bonus?

Making the most of your forex bonus is not as easy as eating cake. In the first place, you should never claim a bonus without first reading the terms and conditions.

Forex brokers with and without deposit bonuses

The no deposit concept means that you will be given some free cash for trading by the no deposit bonus brokers . All you need to is establish a trading account. Once you have signed up and completed the verification process through the mobile phone, you will instantly have access to the amount deposited in your trading account.

No deposit bonus brokers at forex ensures risk-free trading.

All trading you carry out using your account is entirely risk-free. In case you make losses in your trading, you don’t need to worry about the hustle of paying back the funds. The fact that the money is a bonus given out to you by the no deposit brokers at forex , you don’t owe them any funds.

Therefore, a free bonus is important in helping new traders who are cash strapped and can’t raise the initial funds required in trading. This gives them an excellent chance to secure all their investments while trading risk-free.

Why do some people do not want free bonuses?

There are a few reasons why people don’t like the idea of free bonuses thus preferring to risk their investments. Here are top reasons why free bonuses are loathed at times;

The main problem with bonuses has something to do with the issue of withdrawing profits. When you are operating on a bonus, you can’t withdraw your profits before trading the entire required amount. The only way to withdraw your capital is to achieve this goal.

Another thing is the second deposit you make. In case you had not reached the set volume during the previous trading, your new deposit will be subjected to the same rules. At this point, you might compel yourself to change brokers or never deposit the funds at all.

Youtradefx

Youtradefx is an online investment and brokerage firm offering an array of advantages and features to traders who wish to trade from any of their accounts.

It is one of the top bonuses giving brokerage firms with a sumptuous 50% bonus u to USD $2000.

Ironfx

This brokerage firm offers over 220 instruments in about 180 countries with forex. It is one of the top providers of promotions and bonuses which come in different packages. The double bonus entails a 100% unlimited bonus sharing while the 20% bonus on deposits amounting to USD $2,000. Both minimum and maximum leverages are based on specific parameters.

Plus500

Plus500 offers various bonuses which vary from time to time. At this moment (at the time of writing this review), a deposit bonus is granted to any deposits placed in a new account. This bonus depends on the amount of the deposit itself.

L $100 attracts a bonus of $30

L $500 initial deposit gets an extra $150

L $750 receives an extra $200

L $5000 receives an extra $1000.

CM trading

CM trading has a diversified range of instruments on offer to its clients but it is quite unimpressive when it comes to bonuses. The maximum deposit bonus is only 15% of the deposit you make. The bonuses tend to rise as the deposits increase.

Easy markets

Easy markets is quite generous with its bonus plan. The firm offers up to 50% bonus on all deposits up to $5000. But this incentive only applies to its european union clients.

Avatrade

Avatrade is another credible yet generous bonus giver. The maximum deposit liable for a bonus is $10,000. However, all deposits attract a 50% bonus at the instant they are made. For this reason, the bonus award scheme is based solely on the volume of transaction.

Etoro

Etoro offers great incentives and credit plans to its traders. Anyone inviting 10 friends to etoro receives a bonus of $1000. Each friend referred receives $100 deposit bonus in the account. The number of people you can refer is unlimited.

Trade360

Every new trader who signs up with trade360 receives a bonus of $10 for opening the position and $20 for closing a position. A bonus of $30 also applies if the trader has made a profit totaling to $30 or more. The requirement is a trade360 account.

IQ options

It is one of the fastest growing binary brokerage companies with competitive bonuses. A 20% bonus is awarded to deposits totaling $100 or more. The bonuses grow with the increasing deposits.

Capital index

Capital index has only one bonus scheme on offer so far and it involves a bonus of up to $10,000 on deposits. The requirement is a functional account only.

With FXTM a new account receives a bonus of up to 20% on up to $150 deposit and in the first 30 days after deposit. The main requirement for this incentive is to set up a trading account with FXTM.

XM tends to have a ra n ge of offers at different times. The outstanding long term scheme involves a bonus of 30% on all deposits up to $5000.

Trio markets

Trio markets offers a 25% sign up bonus which depends on the time of sign up. It also has loss protection scheme that protects clients from losses amounting to a maximum of 25%.

Hotforex

Hotforex has two bonus plans. The 100% credit bonus plan is aimed at increasing the trading volume while the 30% rescue bonus plan is for new account holders.

Markets.Com

Markets.Com offers a bonus of $25 in any new account created. You don’t need to deposit funds in the new account.

Trade.Com

Trade.Com offers a deposit of 10% on all deposits totaling to a maximum of $2,000 which end up leveraging at a ratio of 5:1.

Brokers without deposit bonuses

JCMFX

This brokerage firm used to offer deposit bonus until 14 th july 2016 when the plan was stopped for restructuring and verifying all the applications submitted. Therefore, any account registered from that date onwards don’t have the bonus on deposits made.

Forexmart

Forexmart has a $300 bonus but is not linked to deposits. The no deposit bonus plan allows traders to begin trading immediately with more capital without involving a lot of risks.

The no deposit program awards bonuses to new clients who open and verify their accounts. You don’t need to make deposits. The bonus ranges from $2 to $50 depending on the type of account.

Indigo DMA

Indigo DMA has a $50 no deposit bonus plan for all new clients. All you need is to open and verify your account. But the promotion can be changed abruptly.

This brokerage firm offers varying amounts of bonuses to new clients in its no deposit bonus plans . The amount you get depends on the enrolled program. You need to open the account and verify it before agreeing to the terms and conditions to claim it.

RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

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General risk warning: the financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose. For more infomation, read our disclaimer.

FOREX NO DEPOSIT BONUS

A forex no deposit bonus is “free money” that brokers offer new traders to encourage them to start trading forex on a live account. It’s given solely to new traders as a ‘welcome bonus’.

10 best forex no deposit bonuses in south africa ( updated 2021 )

What does a no deposit bonus entail?

The ‘welcome bonus’ encourages new traders to open a live account with a broker and place more trades in a short period of time, while limiting their risk of losing their own money at the start.

Thereafter, ‘free money’ in the form of a no deposit bonus is deposited into the account. How much you receive depends on the broker’s promotional offering. It can be as high as $50.

Who qualifies for a no deposit bonus?

Trading with a no deposit bonus

Why do brokers offer a no deposit bonus?

Restrictions on forex trading with a no deposit bonus

Brokers offering no deposit bonuses to first-time traders restrict their clients from opening orders with a large lot size. Typically, the maximum limit for a lot size is 0.01 lot.

The downside of a limit on the size of a lot is it makes it harder to make a profit.

Maximum active positions

Certain brokers who offer no deposit bonuses set a limit on the number of active positions that a new trader is allowed to open. This may include pending orders.

Limit on assets traded

Time limit on no deposit bonus

Hedging is not allowed

As a general rule, hedging is not allowed when trading on an account with a no deposit bonus. Hedging involves having two trades open at the same time but in different directions.

Hedging is used in certain trading strategies and generally provides short-term relief for forex traders. Hedging helps to temporarily eliminate or minimise risk in the forex market.

Scalping is not allowed

Leverage is limited

Expert advisors are not allowed

Expert advisors (eas) may not be used on a real live account that’s been set up with a no deposit bonus. Eas can be likened to robot trading, where forex trading is automated.

Eas are very useful for beginner forex traders because they simplify the trading process, which includes opening and closing a trade and analysing forex market conditions using indicators.

What happens to profits made trading with a no deposit bonus?

Top 10 forex brokers in south africa : who offers a no deposit bonus

Get a free $10 (1000¢) bonus without making a deposit

Disclaimer

How to get best forex deposit bonuses for south african traders?

Bonuses – we all love them, it is exciting to see the broker suggesting 100% or 200% deposit bonuses and we cannot stop thinking of how much more money we can earn with our tradings with additional money. However, not many traders are aware what exactly are forex deposit bonuses and what are the terms and conditions behind it. Before we will discuss forex bonuses lets have a short overview of what forex bonus is in general. Brokers offer a different kind of promotional bonuses to its potential customers, the idea is to make the best offering and persuade the customer to open an account with a particular broker. Some of the bonuses like forex welcome bonuses are for the new customers of the broker, however, there are types of bonuses that are applied to the users that are already trading with the broker to keep them motivated and involved in FX trading.

Bonus on deposit is arguably the most popular welcome bonus forex brokers have. The idea behind it is very simple to grab, the broker is offering a bonus when you open an account and make the first deposit. While for the no deposit bonus there is no need for the customer to make an initial deposit, for the deposit bonus it is needed, so why it is so popular? The reason is simple – with no deposit bonus, one can get a very limited amount of money as a bonus, while the bonus amount for the forex deposit bonuses can be as high as $5000. Sounds great right?! So how can you get your bonus? And most importantly what are the best south african deposit bonuses and what do you need to know before applying for the bonus?

How does deposit bonuses work?

First things first, let us explain how does the deposit bonuses exactly work. While the bonuses and terms and conditions of getting the deposit bonus can be different depending on which broker you choose to open an account with, the general scheme of how bonuses work is the same for all. Once you open an account you need to make the initial deposit, it should be of course more than the minimum deposit and less than maximum, sometimes the amount of minimum and the maximum initial deposit is different for getting the bonus. When you make the deposit the broker will activate the bonus on your account automatically or upon your request, you can accept it or deny even if it is automatically added on your account. The amount of welcome deposit bonus can be varied with the different brokers. Usually, it is from $50 to $5000 depending on the initial deposit, with some brokers it can be the percentage of the deposit the customer makes.

As you can see getting a deposit bonus is very easy. It only takes you to open an account and deposit the funds, which you might have already done, so there is nothing new with it. However, with getting the deposit bonus some of the terms and conditions are applied that you need to be well aware of. First of all, you need to trade. Of course, no broker will give you any money just so, the deposit bonus should be used for trading and many of the brokers determine the minimum trading amount you need to fulfill before you are able to withdraw the money from your account. This is why it is very important to choose the best south african broker offering a deposit bonus and get to know the terms and conditions very carefully.

Advantages and disadvantages of forex deposit bonus

The biggest advantage of the forex deposit bonus compared to the other welcome bonuses is, of course, the amount of it. While the no deposit bonus offerings are limited up to $50 mostly the deposit bonuses can be as high as $5000. It logically means that you can trade with more money and earn a bigger profit than you would be able to make with only your deposit or other bonuses. For example, if your initial deposit is $1000 and the deposit bonus applied is 30% of initial deposit you will get $300 added on your account and you can trade with $1300, meaning that the profits made will be higher.

However, sometimes the bigger is not better when we are talking about forex trading. The more money you get as a bonus could mean that you have to make more tradings than you usually do, which can be stressful for the new traders as they might not be used to actively trading. Hence, the more money on your account could lead to more loses because one has to make more trades.

Another disadvantage is that with the forex bonus on deposit you put your capital under the risk, which is not a case for the no deposit bonus. Let us explain with the example, trader X can get no deposit bonus of $50 and with only the bonus amount on his deposit he can trade without losing any of his money. If he will be successful with his traders, he will earn money, if he will make not successful trades – eventually, he will lose the money which was not from his own pocket. The case is different for the Y trader, he is trading with more money, however, the bonus he got is linked to his own money and if the trading will not go successfully for him, he will not only lose the bonus but his initial deposit money as well.

It does not mean that the forex deposit bonus is bad for you and you should not get it, but it is important to know your capabilities. If you have experience of forex trading and want to try trading with a particular broker, or simply want to increase the amount of money you want to trade with – deposit bonuses can be the best for you.

Things to consider when choosing a deposit bonus

There are choices that must be made with the great care and choosing the best deposit bonus in south africa is one of them. There are some of the things you need to consider when you decide to get the deposit bonus. Since the bonuses are promotional offerings to attract new customers, many of the scam brokers are offering them as well hoping to scam more and more people. This is why it is important to get the bonus from the best south african forex brokers offering no deposit bonuses. Usually, when people see the high bonuses they get excited and do not pay much attention to the terms and conditions that are attached to the bonuses. Here are the most important things you need to consider when viewing the offerings of the brokers.

Requested amount of trading

Everything comes with the rules and the same goes for the deposit bonuses, but it is important to know the conditions if they are fair and possible to fulfill or are designed in a way that you will not be able to gain any profit from it. However, even if the conditions are fair and well designed you need to evaluate if it is possible for you, as a trader to fulfill the conditions. The first rule of the bonuses is that you need to trade, but with the deposit bonus, it is not up to you how much you will trade.

The brokers offering a welcome deposit bonus determine the needed amount of trading. For example, if you got $100 deposit bonus, you might need to make the tradings worth of $10,000 for every $1 given as a deposit bonus. Some brokers require fewer trades, some more. You need to decide which broker is requesting the achievable amount of trades based on your experience. Also, keep in mind if the trade amount is too high for you, you can simply claim the less deposit bonus.

Time is given for trading

The requested amount of trading should be made in a certain period of time. Brokers add money on your initial deposit for you to be able to trade more, but you cannot leave the trading for some time and go back to it whenever you desire when you have the deposit bonus. Some of the brokers give traders over 180 days for trading with the bonus. Which is a reasonable time, some might give less than 90 – in this case, you need to be careful and ask yourself if you will be able to make the needed amount of trades in this short period of time. If the time given is too low – you might come across with the offering of a scam broker. Mostly the fraud brokerages offer high bonuses and give a short period of time to make sure that the customer will not be able to fulfil the terms and conditions of the deposit bonus and lose it alongside with the initial deposit. In case the amount of trades and time given is reasonable, but you still are not sure if you can make it or not – you can claim the less amount of deposit bonus.

Deposit bonus withdrawal

Unarguably the withdrawal conditions are the most tricky when it comes to the bonuses and the scam brokers are using it very well. The best south african brokers have very well defined and clear deposit withdrawal conditions. When reading the terms and conditions, or the best forex deposit bonus reviews make sure that the withdrawal conditions are written in a way that you can understand every aspect of it. What to pay attention to?

In any case, the withdrawal of the bonus is not possible and the profit made with the bonus cannot be withdrawn if you have not made a certain amount of trades.
However, the best brokers make it possible for you to withdraw part of your initial deposit, which results in the proportional decrease of the deposit bonus. If you see that the withdrawal conditions are designed in a way that it is impossible to meet the conditions or are not clear enough, you might want to stay away from this broker as it will be a scam and you will find yourself losing all the bonus and deposit money including the profits you have made.

How to get the best deposit bonus with south african FX brokers

The best way to get the best forex deposit bonus available in south africa is to find the best SA forex broker. When you want to get any bonus deposit, it is always the best idea to choose the best broker, as you will be sure that you will not get involved in scam scheme and the deposit conditions will be fair and possible o meet. We advise you to read the reviews of the best south african brokers and its bonuses. The reviews will cover all the topics you need to know about the broker, its tracking records, how reliable are they and what are the conditions of getting the deposit bonus and withdrawing the profits made from it.

Make sure that you will choose the right amount of the bonus for yourself as the more bonus you get – the more you will need to trade

Choose the broker that gives a fair period of time for the trading. If the time is so short that it requires you to trade 24/7 non-stop to meet the requirements – you might reconsider applying for it.

Read the withdrawal conditions carefully and make sure that it will be actually possible for you to withdraw your profits made from the forex deposit bonus
and you will not lose everything with the scam broker.

If you will consider this advice and spend some time on choosing the right broker with the right offering of the deposit bonus, you can no longer hesitate and apply for the best forex deposit bonus in south africa. If you are looking for the best brokers to trade with check the broker reviews on our page and stay informed about the best offering from most reliable south african brokers.

Markets.Com ZAR 250 ($25) free bonus

Markets broker, a south african FSB regulated forex broker, offers a great ZAR 250 ($25) bonus to all its new clients from south africa for account registration. The traders can use the bonus amount for 3 months to trade and earn a profit!

The eligible clients are required to sign up for a trading account at the broker in order to receive the free funds. The bonus amount and the earned profits will become withdrawable after meeting the required trading conditions - at least 10000 ZAR trading volume for every ZAR that you receive which is, in this case, will be 2,500,000 ZAR - and making a deposit.

Bear in mind that for a withdrawal request you need to provide a legitimate identification document such as a passport, a national id or a driverвђ™s license in addition to a utility bill or a bank statement for proof of address.

How to receive the markets.Com ZAR250 ($25) no-deposit bonus:

Simply become a member of the broker by open a trading account (complete the verification process), receive the bonus in the amount of $25 automatically, and begin your trading experience as well as making profits.

Certain conditions:

The bonus offer is applied once per client, and multiple account participation is not allowed.

Premature withdrawal requests will result in bonus cancellation.

So, let's see, what we have: see our list of trusted forex brokers with no deposit bonus available for traders in south africa. We have compared the bonus terms, withdrawal conditions. At no deposit bonus forex south africa