The no deposit forex bonus is a free fund granted to new forex traders by their brokers. Once the trader registers with the broker, the trader have the right to apply for this bonus, or get it automatically without applying for it. This is also known as a welcome bonus for newbies and a way of encouraging traders to get involved in the forex market without exposing their personal funds to risks. To gain access to a forex bonus no deposit account is as simple as signing up for a forex trading account; which is as simple as it can be.
THE DIFFERENT BONUSES TRADERS CAN ACCES IN THE FOREX MARKET
The “forex no deposit bonus” is not the only bonus traders stand to gain in the forex market. A trader can also get a bonus from winning a demo contest. In the demo contest, the trader competes with other traders in a simulated forex market environment; they trade to the best of their knowledge, and at the end of the day, the best trader gets a cash price. This cash price is a forex bonus credited into the winners live account; its only purpose is for it to be invested in the forex market as the trader wills and also with regards to the terms and conditions of the broker. Traders participating in this contest must be aware of the terms and conditions before entering for the contest to avoid any surprises.
FOREX NO DEPOSIT BONUS TERMS AND CONDITIOND
Be it through a demo contest or just as a welcome bonus, the forex no deposit bonus ranges from $5 to %1000 (a really attractive one) or more. Some of the common terms that go with these bonuses are as follows
The trader must not trade more than one lot at a time
The trader must not open more than five positions simultaneously
Whatever is left of the bonus is taken away after 7 days
However, like has been mentioned earlier, it is important that traders take a really careful look at these terms and conditions in order to understand how these bonuses really work. One good thing about these bonuses (asides the other benefits) is that the trader does not have to pay the broker back for the bonus. If the trader does well in trading with the bonus and makes some profits, then good for the trader; if the trader was not able to make any profits, nothing is lost at least (on the path of the trader).
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.