5 Best No Deposit Bonus Forex Brokers in South Africa 2022 with Reviews!

So, by trading with a regulated broker you are reducing your risk of bad practice by the broker. Similarly, all genuine forex brokers that offer No deposit bonus offer will have clear terms page or downloadable file for their exact terms. This free capital is the bonus given by the Forex Broker, so you can start trading without risk of investing your money. You should treat the bonus only as a way to practice CFD trading with a reputed & well regulated broker. And not be tempted by bonus offers from brokers that are unregulated.

And there would be no grievance redressal in such a situation as the broker is not regulated in SA or any other major jurisdiction. 2) Some broker may offer bonus that would seem to be really attractive. However, the broker’s reputation & regulations should be considered before choosing any such broker, even in case if it is a free bonus. An exciting bonus should not be the only point to start trading with the broker.

Tips for Wisely Using the No Deposit Forex Bonus

In most cases there will be many terms levied by the broker before you can withdraw any profits made with the bonus. However, you should be mindful of not falling into false traps and see it as LimeFX capital. You should instead wisely use the bonus to learn trading with a reputed broker & test your strategy in Real market conditions. The real intention here is to trade properly and earn profits or learn trading CFDs with the broker.

LimeFX is a FSCA regulated forex broker, and also regulated by multiple Top tier regulators including FCA. ForexBrokers.co.za is a broker comparison & education website for South Africans. We aim to help traders in South Africa find the best forex brokers. Also check the broker’s fees for deposits & withdrawals. Make sure that the broker is not charging a very high fees during withdrawals. It is very easy to see the no deposit bonus as free cash, but it is not.

Best No Deposit Bonus Forex brokers Compared

Hence, we should keep our trading strategies and requirements in mind in order to put the bonus to its intended use. XM Broker gives a $30 “No Deposit Bonus” to new traders only if you sign up for it via their special page. No Deposit Bonus is a win-win situation for both the broker and the customer. While the broker will increase its limefx scam customer base, the customer can train oneself and gain useful insights from trading by using the free bonus. 3) Always keep in mind that the no deposit bonus is an initial capital for trading and not free cash which can be used otherwise. In Forex & CFD trading, an initial capital is required to open a Live account with a broker.

• We have only listed the no deposit bonus by forex brokers that are popular & well regulated globally.
• But once you deposit the funds to trade, you will find that the trading conditions & the fees on the bonus account & the one with your money may be different.
• ForexBrokers.co.za is a broker comparison & education website for South Africans.
• You should instead wisely use the bonus to learn trading with a reputed broker & test your strategy in Real market conditions.
• The real intention here is to trade properly and earn profits or learn trading CFDs with the broker.

1) All forex brokers that offer no deposit bonus will have the terms and conditions about it – including conditions for withdrawing profits made with the bonus. So carefully read all the terms & fine prints, understand all those conditions before signing up. But once you deposit the funds to trade, you will find that the trading conditions & the fees on the bonus account & the one with your money may be different. We have compared the bonus conditions & terms for all the forex brokers that offer no deposit bonus to South African traders. Most brokers that offer no deposit bonuses are not trusted. That is why it is really important to only choose a broker that is reputed & well regulated.

Frequently asked questions: No Deposit Bonus Forex brokers

If a regulated & popular broker is offering No deposit bonus then there are lesser risks. This depends on the broker, but generally the profits made with trading bonus are withdraw-able provided some conditions are met. Almost all brokers that offer No deposit welcome bonus impose strict terms & trading volume requirements before you https://limefx.club/ can withdraw any profits. Although there are quite many bonus programs out there, but no all brokers offer their bonus in South Africa. We have only listed the no deposit bonus by forex brokers that are popular & well regulated globally. We’ve listed the top no deposit bonus forex brokers that offer bonuses ranging from $10 to $100.

Trading leveraged instruments such as Forex & CFDs are risky and can result in lose of your capital. It is best to read the terms of the bonus before signing up, so that you don’t get surprises later. If there is any ambiguity in the terms and conditions, make sure to clarify the doubts with the broker’s chat & email support before opting for the broker.

Are no deposit bonus brokers safe?

The intention of the scam broker with no deposit bonus could be to not offer any withdrawals to customers that make a profit with no deposit bonus account. As per our check XM Broker, LimeFX are brokers that are regulated with at-least 1 Top Tier regulator & offer no deposit bonus. But you should still carefully read terms of these brokers before signing up for any of their bonus. When you are depositing money with an unregulated or ‘Offshore regulated’ forex broker, there is a high risk that you will face withdrawal issues.

• However, you should be mindful of not falling into false traps and see it as LimeFX capital.
• XM Broker gives a $30 “No Deposit Bonus” to new traders only if you sign up for it via their special page.
• They provide various trading instruments like Forex, Stock Indices & Oil, Precious Metals and Bonds.
• So, by trading with a regulated broker you are reducing your risk of bad practice by the broker.

Getting XM Broker’s $30 No Deposit Bonus is a straightforward process and the amount is credited to the trading account after registration and account verification. This bonus can be used straightaway to start trading with access to the MT4 and MT5 platforms. This account would also provide access to MT4 live trading without making any further deposits. LimeFX was founded in 2014 and offers attractive trading conditions. They provide various trading instruments like Forex, Stock Indices & Oil, Precious Metals and Bonds. They are regulated with Top Tier bodies like FSA SC, FSA UK, and CySEC.

These ‘No Deposit Bonus’ programs are mostly offered by brokers to attract new customers. But, as these ‘no deposit bonuses’ are provided free of charge, there are certain conditions or terms, withdrawal restrictions etc. that depend from broker to broker. Regulated forex brokers have to be compliant with the policies of the regulators.