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Brokers That Give Free Bonus – Do you want to start forex trading without investing from scratch? Our no deposit bonus is just for that: to allow forex beginners to use our services and start making profits without risking their funds.
Our no deposit bonus amounts to $88 and is available to every customer with a live trading account that is fully verified. You do not need to make a deposit to claim the bonus.
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The process to claim the No Deposit Bonus is very simple – register a live account, complete its verification and submit the “Claim No Deposit Bonus” button at the bottom of the page.
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Profits earned from trading on no deposit bonus can be withdrawn. The free withdrawal amount is determined by your trading volume with the formula: 1 lot = $1. In other words, you must have traded at least 50 lots to withdraw $50.
You can register a real trading account here. Accepted account currencies that can claim the bonus are USD.
Our verification process is quick and easy. You will need to verify all four aspects of your account – name, address, phone and email. We will notify you within 48 hours if your account has been verified.
Once your account is verified, please select the Bonus Program tab on the left menu in the Client’s Cabinet and select No Deposit Bonus. Click the “Get No Deposit Bonus” button at the bottom of the page.
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The Easy Deposit Bonus amounts to a whopping 3000% of your chosen deposits. With a small deposit amount like $25 you can get a full $750 to trade, allowing you to operate with more volume than your deposit would normally allow.
Our clients can claim 300% hot bonus while adding funds to their accounts for unlimited period. This offer is ideal for those of you who want to order in bulk and make huge profits. Forex trading can offer good earning opportunities if you have enough trading experience. But before you can start live trading it is mandatory to deposit funds in your trading account with the broker.
Usually you cannot start because of limited funds or you can test your strategy live before trading with real money. A no deposit bonus can help in this case.
A no deposit bonus is a promotion by forex brokers where they offer free initial capital to a forex trader’s account without any initial deposit.
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But still you should be careful to choose a broker that does not offer any deposit bonuses or similar promos. We have researched brokers that are currently offering bonuses to traders in Nigeria.
We searched all the brokers that offer no deposit bonuses to Nigerian traders and then we selected some popular brokers.
Let’s start by comparing bonuses and terms to get bonuses for 4 brokers on our list!
Globally acclaimed XM is a broker regulated by CySEC, FCA, IFSC, ASIC. It is a global trading platform that offers a US $30 no deposit bonus to first-time customers who open a real trading account.
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1) Open Trading Account: To avail this bonus, traders must open a real trading account with XM. You can easily open it from here.
2) Verify Account: Log in to the member’s area to verify the credentials sent via email. After that, merchants must provide documents for identification and account verification. SMS phone verification must be activated after that.
3) Credit Bonus: After this, the bonus is directly credited to the account, which is ready for trading. The bonus is only available until you lose it or withdraw the profit from the account. Post email and SMS confirmation, the user can confirm the transaction and log into the system.
FBS is a CySEC and IFSC regulated broker offering the highest bonuses. It is currently running several bonus offers, each with different amounts and terms. One of their most popular no deposit bonus offers is the Trade 100 bonus, where you can get $100 in free funds.
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2) Verify your account and get credit: You need to verify your account with FBS. Once your account is verified, bonus funds will automatically be credited to your account.
3) Start Trading: You must use MT5 account to trade for 30 days. And you must meet the conditions set by FBS before withdrawing any profits made with the bonus.
InstaForex is another broker that offers no deposit bonus. Their promotional bonus is called Start Up. They don’t require any verification to get the bonus, but you have to make an initial deposit before you can withdraw the profits.
Note: InstaForex is not on our recommended forex broker list for 2019, so we do not recommend them. If you choose to take advantage of their no deposit bonus, please do so at your own risk.
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1) Open a trading account: To take advantage of the signup bonus you need to open a trading account with InstaForex.
FXOpen is a regulated forex broker. They have been offering a $10 signup bonus with their STP account for a while now and it is also available to Nigerian traders.
3) Get Bonus: After this, the bonus is automatically credited to the STP account. To get this bonus, you must register FXOpen eWallet.
First you must understand that the bonus is for trading only. It should be used as a way to practice in a live trading environment and you shouldn’t see it as free cash.
Best No Deposit Bonus Forex Brokers In Nigeria 2022
Generally, some general rules (that you need to know) set by all no deposit bonus forex brokers are:
1. You cannot withdraw the bonus but you can withdraw the profit you made while trading with that bonus.
2. You must trade at least lots for the required period until the broker’s conditions are met.
4. There may be other conditions set by the broker and you should check them first before choosing any deposit bonus broker.
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We have compiled this list of some important points that you should consider before claiming a bonus with any broker.
Just because you don’t deposit any money to trade, doesn’t mean you should choose any broker that offers bonuses. Some brokers will lure you in with exorbitant bonus offers, but their withdrawal terms are very vague and bad, often requiring you to make a deposit before withdrawing any profits made with the bonus.
For example: Instaforex requires you to make a deposit before withdrawing any profits made with the bonus. This term is not favorable. XM also requires a certain level of trading activity in terms of trading volume before you can withdraw any profits through bonus trading.
So read the terms carefully before choosing any broker for no deposit bonus. If there’s something you’re not sure about, don’t be shy to contact the broker’s support.
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Unregulated brokers have no obligation to follow the terms set by regulatory bodies and often use no deposit bonuses to attract new traders and get them to deposit real money.
Check if the broker is approved, certified and regulated by an authority such as FCA (UK), CySEC (Cyprus), ASIC (Australia) or FSCA (South Africa).
Without regulation, you cannot back up the legitimacy of the broker or file any complaint against the broker in case of any bad practice.
Note: If you are looking for a highly regulated and reliable broker to start forex trading with a low deposit, you can check out our list of the best forex brokers in Nigeria.
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Don’t fall for the huge bonus amount, instead go for a trusted platform that has a proven track record of reputation among existing traders over the years.
Most regulated forex brokers who offer generally good service may also offer transparent bonus offers. So if a well-regulated forex broker is offering a bonus, it’s a no-brainer to go for it.
Before choosing any broker that does not offer a deposit bonus you should carefully read the reviews of other traders and talk to other traders if they have any experience with the broker you are choosing.
For example: XM Forex is a reputable forex broker and is also the #5 forex broker in Nigeria according to XM Forex reviews by our experts and users. So no deposit bonus from them is a great opportunity to start.
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Before trusting a broker, check their reviews, website and online reputation, even without a deposit bonus. Your time is at stake.
Don’t be tempted by big bonuses, as some brokers who offer deposit bonuses may not be trustworthy or may be arbitrary. In such a situation, you risk wasting your time and effort.
Instead, base your decision on the broker’s reputation and choose a broker that is regulated by multiple top-tier regulators and offers the right trading platform and services. If a regulated broker offers a deposit bonus, you can trust it.
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