The market has experienced a vigorous competition amongst forex brokers and just to entice more new traders, bonus packages are being used as a medium. One such which has managed to attract the most amount of newbies is forex bonus no deposit. This package is a part of a new market trend and is said to benefit new traders amazingly.
‘It’s a win-win situation’- that’s what traders who have used it or are presently using it have to say.
Forex bonus no deposit
No deposit bonus from forex is a broker-sponsored trading fund to newbie traders. They just have to get a live trading account without paying up anything. The procedures are standard (which will be explained in details below).
Once these are done and dusted the No deposit bonus from forex amount will be credited to your account and that too in real US Dollars. You can use that to actually trade in the real forex marker and earn some real money.
What makes it a great option for new forex traders?
You as a trader do not have to pay back your broker for funding your trading account. Forex trading free bonus no deposit account cash is an inventive give out by your broker. You simply keep all the gains and if you lose, you do not have to pay a single dime to your broker.
Even though the profits which you earn are small, you are getting the scope to engage in real live trading and the experience is what matters in the long run.
With a trading account of your own, you are getting the chance to try out all the tools and indicators which your broker is offering. That helps you put your knowledge about forex to the test. It also helps you devise various trading strategies and checks which one applies to your needs and trading style.
Getting started with a free cash bonus no deposit forex
When talking about the range of free forex bonus with no deposit it is something in between $5-$100. However, each of the brokers has different terms and conditions applicable and hence it would be wise to visit their website and check it out.
Steps to follow for getting no deposited bonus forex:
- The first step is to open a live trading account page and get registered.
- The second step is the verification. The procedures may vary and generally speaking, you have to submit a scanned copy of your passport or documents which prove your identity. This has to done in the verification cabinet of your trading platform.
As these are done and dusted, you will be notified within 72 hours and of your account status.
- The third step is to request for the bonus. As registrations and verifications are complete, there will be another round of verification which will be carried out. An order will need to be forwarded to get bonus no deposit forex amount.
You will also have to agree to all terms and conditions laid down by your brokerage company. In case your account is not verified or some issues popped out regarding the information you shared, your request will be rejected.
Its withdraw criterion:
Apart from this one crucial thing to remember regarding no deposit bonus in forex trading is that you cannot withdraw the bonus amount until you carry out a particular volume of trade operations. Only after that will you be able to draw the amount.
Forex bonus no deposit is a great way to start off your trading livelihood. However, several rules and conditions apply for becoming eligible for it. So check them properly. One more thing, learn forex and trade smartly not excessively.
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.