No deposit forex bonus is one of the most desired forex bonus and promotions by forex traders because you can trade without depositing your own money. Forex brokers offer many types of bonus and promotions to attract more clients or to reward the clients for choosing them as their broker. Free forex bonus and promotions certainly benefit the clients since they allow the clients to trade with a larger balance than they have deposited.

What About Forex No Deposit Bonus 2020?

Of course, I am assuming that the Broker is not a scam. Because, there are tons of scam brokers out there who allure novice traders through attractive bonuses just to fraud them at the end by rigging the trading conditions or simply pocketing the client’s deposit.

Therefore, free forex bonus and promotions should not be your only criteria when choosing a forex broker. Regulation, trading conditions, reputation and customer services are some of the other features that every trader has to take into account on the road to pick a suitable forex broker for yourself.

What is No Deposit Forex Bonus?

There are many forex bonuses offered by brokers, some of them being granted to the traders post-trading, and others being rewarded to the trader’s forex account conditional on a certain amount of deposit or trading checkpoints. Deposit bonus, welcome bonus, redeposit bonus, rescue bonus and volume bonus are examples for different types of forex bonuses.

In addition to those, there is another type of free forex bonus. This forex bonus is credited to the trader’s account without any initial deposit or other condition whatsoever. Well, of course there is one condition; opening a forex account with the broker. As soon as you open the trading account, you will be rewarded with a free bonus. This type of forex bonus is called no deposit forex bonus.

No Deposit Free Forex Bonus Brokers in 2020

BrokerRegulatorSpreadsNo Deposit BonusNext Step
CySEC, ASiC, IFSC Low $30

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FCA, CySEC, Seyschelles FSA Very Low $30

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CySEC, BVI FSC Medium $30

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CySEC, IFSC Very Low $50

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Why is No Deposit Free Forex Bonus Important?

No deposit free forex bonus is a great opportunity for beginner traders to gain experience without risking their real money. Besides, it allows seasoned traders to evaluate the services and live trading conditions provided by the broker before depositing money into their trading account.

Since it is not your own money, it will not hurt you financially and emotionally in case you blow up the account. The bonus is also very useful for traders who wish to develop and test new trading strategies without investing and risking their capital.

It is a common exercise followed by the forex brokers to provide different trading conditions in terms of spread, execution time and slippage between demo and live trading accounts. Therefore, trading with a demo account may mislead traders regarding the trading conditions that come with a live account. No deposit forex bonus allows traders to experience a live trading environment with the actual conditions.

How to Choose the Best Free Forex Bonus?

It is never an easy task to choose a forex broker. I always emphasize the inappropriateness of choosing a forex broker solely due to the appealing free bonus and promotions. Never pick a forex broker just because it gives you a higher percentage of free bonus than the other brokers do.

  • Prefer a Regulated Forex Broker

Regulation must be the first and foremost quality of a forex broker that you are going to trade with. You should always put regulation and license above all else when selecting a forex broker. I don’t recommend openening an account with an unregulated forex broker no matter how good the bonus and promotions are offered. After all, what is the use of a free $5000 bonus if you will not be able to withdraw your capital from the forex broker?

Another point to keep in mind is that many unregulated or poorly regulated forex brokers use free forex bonuses as a tool to attract more clients just to fraud them. Those are the scam forex brokers that you have to stay away from no matter how big bonus and promotions they pledge.

  • Consider the Trading Conditions

Spreads, execution time and slippage are going to have a decisive impact on the fate of your trading strategy. Free forex bonus and promotions are very alluring however the trading conditions may be against your advantage just to strip you off the benefits of the bonus. In another word, the brokers may give you the bonus but may not let you benefit from it through adverse spreads, execution time and slippage.

  • Read and Understand the Terms and Conditions

Forex bonus and promotions usually come with certain terms and conditions. Some forex brokers let you enjoy the free bonus without verifying your trading account while some others require you to validate your account first. Some forex brokers even allow you to withdraw the free bonus conditioned on certain prerequisites.

Therefore, it is always a good idea to read and understand the terms and conditions of the no deposit bonus to avert an unpleasant surprise afterwards.

Forex Brokers With Best Money Withdrawal Options

Forex.com

Forex.com is owned and operated by an industry giant; GAIN Capital Holdings who has been around for more than 20 years. Forex.com is registered and regulated by CFTC, NFA and CIMA. The Broker accepts clients from the US. Investors can deposit and withdraw funds by credit card, bank card and wire transfer. Digital wallets are going to be available soon.

Money Withdrawal Options: Credit Card, Bank Card, Wire Transfer

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XM

XM puts more than ten methods of deposit and withdrawal under disposal of its clients. In addition to international bank transfer and credit card which has become industry standards as deposit and withdrawal methods, XM clients can use various other methods. Those methods include Neteller, Skrill, UnionPay, Web Money, iDeal, Moneybookers, MoneyGram, Sofort and Western Union. One important detail which makes XM even more favorable is that the Broker covers international wire transfer commission of its own part which considerably reduces the withdrawal cost.

Money Withdrawal Options: Wire Transfer, Credit Card, Neteller, Skrill, UnionPay, Web Money, iDeal, Moneybookers, MoneyGram, Sofort, Western Union

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FxPro

Regulated by FCA,CySEC and SCB, FxPro is headquarted in London and one of the most prominent forex brokers in the industry. Traders who open an account at FxPro can withdraw and deposit funds through credit card, international bank transfer (SWIFT), PayPal, Skrill, Neteller and China UnionPay.

Money Withdrawal Options: Wire Transfer, Credit Card, PayPal, Skrill, Neteller, UnionPay

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HotForex

Established in 2010 and headquartered in Cyprus, HotForex is an award winning forex broker that offers a wide range of account types and trading instruments. The broker is pursuing a policy of providing the most convenient and advantageous trading conditions for the traders. You can deposit money in HotForex using credit or debit cards and bank wire transfers. Apart from that HotForex also accepts Skrill, Neteller, FasaPay, Sofort, mybitwallet, iDeal and Webmoney.

Money Withdrawal Options: Wire Transfer, Credit Card, Skrill, Neteller, FasaPay, Sofort, iDeal, Webmoney, Bitcoin

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Exness

Exness was founded in 2008 in Russia and has grown into one of the most popular forex brokers in Europe since then. The Company is regulated by CySEC in Cyprus and FCA in UK. Having a wide array of payment methods, transacting money on this brokerage platform is pretty easy and quick.

Money Withdrawal Options: Wire Transfer, Credit Card, Skrill, Neteller, Webmoney, Perfect Money, SticPay, Jeton Wallet

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