The best no deposit bonus Forex brokers are FBS, XM, Axiory, and SuperForex.
To choose the best Forex brokers with no deposit bonus, the availability and amount of no-deposit bonuses, overall broker reliability, the ability to withdraw profits, trading commissions, and bonus conditions are the most important criteria.
FBS is the best no deposit bonus Forex broker overall, with the FBS Quick Start Bonus of $100, and the Level Up Bonus with up to $210 bonus upon completing specific steps. two no deposit bonuses under its IFSC-regulated branch.
XM, Axiory, and SuperForex follow FBS as the best no deposit bonus Forex brokers. XM offers a $50 no-deposit bonus for new clients under offshore regulation. Axiory provides a $25 no-deposit bonus after account verification. SuperForex offers an $88 no deposit bonus for USD-denominated accounts.
What are the best no deposit bonus brokers?
Before diving into the list, it is worth noting that bonuses and promotions are not accessible to European, British and Australian customers, as well as in countries where these cannot be offered for regulatory reasons.
Read the no deposit bonus T&Cs before applying.
Warning
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
FBS
$100 no deposit bonus
FBS offers two no deposit bonuses through its IFSC branch. The Quick Start Bonus is $100, while the Level Up Bonus totals $210, both with withdrawal conditions.
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About FBS
FBS is a global forex and CFD broker founded in 2009, offering trading on currencies, commodities, indices, stocks, and cryptocurrencies. FBS provides MetaTrader 4, MetaTrader 5, and proprietary platforms. FBS is regulated by multiple authorities including CySEC, ASIC, and IFSC. FBS serves over 27 million clients in 150+ countries. FBS is known for low minimum deposits, extensive educational resources, and copy trading services.
FBS Features
The features of FBS are listed below.
- FBS offers two no deposit bonuses under their IFSC regulated branch.
- FBS’s Quick Start Bonus is a no deposit bonus of $100 on the FBS Trader platform, so the user can learn to trade risk-free.
- FBS’s Level Up Bonus, on the other hand, offers a total no deposit bonus of $210, which can be achieved by completing the steps required by the broker.
- FBS’s no-deposit bonus can be withdrawn if certain conditions are met. The trader can still withdraw any profits made from the bonuses.
FBS Pros and Cons
Advantages of FBS
The advantages of FBS are listed below.
- Low minimum deposit
- User-Friendly Platforms
- 90 international awards
Disadvantages of FBS
The disadvantages of FBS are listed below.
- Limited Financial Instruments
XM
$50 no deposit bonus
XM provides a $50 no deposit bonus exclusively for new clients. The bonus is under offshore regulation. Profits from the bonus are withdrawable.
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About XM
XM is a global forex and CFD broker founded in 2009, offering trading on currencies, commodities, indices, stocks, and cryptocurrencies. XM provides MetaTrader 4, MetaTrader 5, and proprietary platforms. XM is regulated by multiple authorities including CySEC, ASIC, and IFSC. XM is known for competitive spreads, extensive educational resources, and multilingual customer support. XM serves over 5 million clients from 196 countries. XM offers various account types and a no-requote policy.
XM Features
The features of XM are listed below.
- XM offers a $50 no-deposit bonus under its offshore regulation.
- This bonus is exclusively available for new XM clients.
- While the XM no-deposit bonus cannot be withdrawn, profits made from it can be withdrawn.
XM Pros and Cons
Advantages of XM
The advantages of XM are listed below.
- There’s a wide range of account types
- The demo account at XM is unlimited
- Wide range of educational resources
Disadvantages of XM
The disadvantages of XM are listed below.
- No social trading features available
- The account availability changes depending on the location of the trader
- High minimum deposit to invest in securities ($10000 for the XM Shares account)
Axiory
$25 no deposit bonus
Axiory gives a $25 no deposit bonus. Clients need to open and verify an account to receive it. Profits are available for withdrawal, but not the bonus itself.
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About Axiory
Axiory is a global online broker founded in 2012, offering trading on forex, CFDs, stocks, indices, commodities, and cryptocurrencies. Axiory provides MetaTrader 4, MetaTrader 5, and cTrader platforms. Axiory is regulated by the International Financial Services Commission (IFSC) of Belize. Axiory is known for competitive spreads, fast execution, and extensive educational resources. Axiory offers various account types including ECN accounts. The CEO of Axiory is Roberto d’Ambrosio.
Axiory Features
The features of Axiory are listed below.
- Axiory offers its traders a $25 no deposit bonus.
- To get the bonus you simply need to open an account at Axiory and verify it.
- Axiory’s no deposit bonus cannot be withdrawn, but you can withdraw profits from trading through the bonus.
Axiory Pros and Cons
Advantages of Axiory
The advantages of Axiory are listed below.
- Competitive Spreads
- Diverse Account Types
- Robust Educational Resources
Disadvantages of Axiory
The disadvantages of Axiory are listed below.
- Limited Regulation
- High Inactivity Fees
- Withdrawal Fees
Superforex
$88 no deposit bonus
SuperForex offers an $88 no deposit bonus. Clients open a live account, choose USD, and verify details to qualify. The bonus requires specific account settings.
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About Superforex
SuperForex is a global forex and CFD broker established in 2013, offering trading on various financial instruments including currencies, commodities, indices, and cryptocurrencies. SuperForex is regulated by the International Financial Services Commission (IFSC). SuperForex provides trading services in over 150 countries. SuperForex offers competitive spreads, low minimum deposits, and multiple account types. However, there are conflicting reports about SuperForex’s reliability and regulatory compliance. The SuperForex CEO is Vladimir Syrov.
Superforex Features
The features of Superforex are listed below.
- SuperForex offers a no deposit bonus of $88.
- To get it, you need to open a live account, verify your account, and request it by entering your personal trading account page.
- To get SuperForex’s no deposit bonus, you must open the account by choosing USD as the currency.
Superforex Pros and Cons
Advantages of Superforex
The advantages of Superforex are listed below.
- Low Minimum Deposit
- Diverse Financial Instruments
Disadvantages of Superforex
The disadvantages of Superforex are listed below.
- Regulatory Concerns
- Variable Spreads
- Customer Support Issues
Justforex
$30 no deposit bonus
JustForex allocates a $30 no deposit bonus after account registration. To withdraw, traders meet specific trading conditions which includes trading 5 lots in 30 days. The bonus transfers to selected account types.
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About Justforex
JustForex is a global forex and CFD broker established in 2012, offering trading on currencies, commodities, indices, and cryptocurrencies. JustForex provides MetaTrader 4 and MetaTrader 5 platforms. JustForex is regulated by the International Financial Services Commission (IFSC) of Belize. JustForex is known for competitive spreads, fast execution, and extensive educational resources. JustForex offers various account types including Islamic accounts.
Justforex Features
The features of Justforex are listed below.
- JustForex offers a no deposit bonus of $30.
- To claim it, it is necessary to register a trading account with JustForex.
- To transfer the bonus funds to another JustForex account, the trader must trade at least 5 lots in a 30-day period, making a profit or loss per trade of at least 6 pips.
- The no-deposit bonus from JustForex can be transferred to a Cent, Standard, Pro, or Raw Spread account.
Justforex Pros and Cons
Advantages of Justforex
The advantages of Justforex are listed below.
- Low Trading Costs
- Diverse Trading Instruments
Disadvantages of Justforex
The disadvantages of Justforex are listed below.
- Limited Regulation
- Withdrawal Fees
- Restricted Access for US Traders
How to choose a no deposit bonus broker
There are three main aspects to consider when choosing a no deposit bonus forex broker:
The first aspect is the regulatory one. In fact, it is necessary to consider how reliable the broker is before even opening a trading account and choosing a bonus. Very often brokers offering these bonuses are based in tax havens and/or nations where obtaining financial regulation is very easy.
As a result, it is very easy to fall for scams when trading with brokers that offer no-deposit bonuses. Therefore, look to see if the broker also offers tier-1 regulations such as the FCA or ASIC in addition to offshore regulations.
The second aspect is the no deposit bonus itself. The no deposit bonus must be taken as an opportunity to trade with real money, but without risking your own. Consequently, a very small bonus of $1 is useless since with very low amounts it will be impossible to meet the margin requirements of the forex market.
This means that you will receive free money from the broker, but in order to trade you will have to deposit more of it (which undermines the actual purpose of a no deposit bonus). When looking for a no deposit bonus, it is always best to find one from $20 and up.
The third aspect is the balance protection of the broker. When you use real money, even if it is not your own, you can always go into debt if you use very high levers. If the broker gives you $10 to start with, and you go all-in with very high levers, it may happen that your account will go negative.
In this case, although you have used “free” money, the broker may ask you to make up the losses by depositing money out of your own pocket. For this reason, unless you know exactly what you are doing, it is always best to make sure that the broker offers negative balance protection.
Are no deposit bonuses available in every country?
The no deposit bonuses are not available to traders based in the EU, in the UK, and in Australia.
On the other hand, no-deposit bonuses are available in most countries and areas of the world including in Central and South America, Africa, the Middle East, and Asia. This is due to the fact that there is little regulated trading market in these areas of the world, and as a result, online trading brokers can offer certain services that are instead prohibited in other countries of the world.
For instance, the European Securities and Markets Authority (ESMA), which is the European financial regulator, has banned certain types of forex broker bonus offers under the MiFID II regulations, just like FCA (UK) and ASIC (Australia) have done.
The result is that forex brokers’ no deposit bonus offers, and any kind of registration bonus offers are not allowed for traders who are in the EU.
Can I withdraw the No Deposit Bonus?
The no-deposit bonus can be withdrawn if certain criteria are met.
Withdrawal criteria vary from broker to broker, but generally the most common criterion is volume.
In other words, the broker will let you withdraw your no-deposit bonus only if by trading you manage to generate as much volume as the broker deems necessary. For example, if the broker requires you to generate a volume of 10 lots, it means that the trader (with the help of leverage) has to open orders for a total volume of US$1,000,000 in order to withdraw his no-deposit bonus.
However, the trader will be able to withdraw all the profits generated through the use of the bonus money. So if the user receives a $100 no-deposit bonus, and manages to earn $10, he will be able to withdraw the $10 earned but not the $100 bonus money.
No Deposit Bonus Pros and Cons
Here are some of the key advantages we have noted when it comes to your no deposit bonus, and some areas which you should be mindful of when trading with your bonus.
Pros
- The bonus allows you to trade completely risk-free but still benefit from using real money in trading.
- With some brokers you may not even need to fully verify your account to gain access to the bonus.
Cons
- The availability of such an easy bonus offer may work to attract inexperienced traders.
- The criteria that must be met in order to withdraw the bonus can often be difficult to reach.