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The concept of a forex no deposit bonus evolved out of a desire by forex brokers to gain a competitive advantage against the many other forex brokers competing for investors. Now, many forex brokers offer this no deposit bonus as an incentive for trading. Essentially, the forex no deposit bonus is a small sum of money that is allocated to a new investor for trading purposes.
These bonuses are usually small, and the average bonus range is from as low as $5 to as high as $100.
With a no deposit bonus, a new forex trader or investor is not required to make a deposit in order to trade through the platform. The proceeds may be used to start trading on the platform and basically allows the trader or investor to try out the broker’s platform for free. That’s a great incentive! Also, the no deposit bonus allows a trader or investor to gain some trading experience while having the opportunity to test the broker that they signed up with. This presents an opportunity for the trader or investor to actually make profits using the broker’s own funds.
Usually, if a trader or investor uses the no deposit bonus and realizes a profit, he/she will be able to withdraw that profit, up to a certain limit. However, if a loss is made, the trader or investor loses nothing. The trader or investor is usually not able to withdraw the no deposit bonus unless certain conditions are met. This may have to do with things such as trading volume as well as whether the trader or investor has gone on to invest their own funds after receiving the no deposit bonus or not.
If a trader or investor is promised a no deposit bonus by a broker, and yet is asked to deposit his/her own funds before they can start trading, that is a red flag that indicates that there is really no bonus being offered. The offer is likely to be fake. Also, a trader or investor who gets a no deposit bonus, should be able to withdraw at least some of the profits made.
How to Claim Your No Deposit Bonus
To claim a no deposit bonus, the trader must sign up for the offer on the broker’s website. Usually, you will receive the no deposit bonus in the form of a coupon which you will enter into the system upon signing up. Once the registration is complete, you will receive real money in order that you can begin trading. Usually, the no deposit bonus is only available to brand new customers who have never opened an account in which they deposited funds before.
If a demo account was opened previously, but no actual funds were deposited, that does not disqualify you for a no deposit bonus. To be able to make a withdrawal, a minimum amount of trades need to have been made and there may be a limit to how much profit can be withdrawn.
