A no deposit bonus is a great way to try out forex platforms without having to risk any of your own money. And the platforms let you keep whatever profit you make from your trading. So you could also potentially be a good way to make some extra cash on the side. So read on to find out where the best places to get a no deposit forex bonus are and how you can claim one:
What’s a No Deposit Bonus?
A no deposit bonus is a small amount of real currency that is deposited into your trading account. You can use just like real currency to open trades in forex and stocks. Now while you’re never going to get rich using a no deposit bonus, it is a good way to learn about forex trading. I’ve always believed that the best way to learn forex, is to jump in and start trading. But it’s best to not jump in with your own money and use the free money you get with a no deposit bonus.
What’s the Catch
Now there is a catch. You can’t just take the no deposit bonus and withdraw it. No company would be silly enough to just give you free money. Instead most brokers will only let you withdraw the profits you make from your trades. Some brokers will even require you to trade with the profits a certain amount of times before withdrawing. Personally we don’t like those brokers as we feel they are just trying to get you to lose money.
How to get a no deposit bonus on XM
In our opinion the best no deposit bonus currently available is on offer from XM. XM is a one of the worlds largest and most trusted forex brokers. They’ll give you a $30 no deposit bonus, just for signing up with a real trading account.
Here’s how to get your bonus on XM:
- Register for an account here
- The $30 will be automatically credited to your account
Here’s a few things you’ll need to know about this bonus
- It’s only for new customers.
- No deposit is required
- You have 30 days to use your bonus
- You can withdraw the profits from your bonus. You can’t withdraw the original $30.
While there are many brokers that offer no deposit bonuses, there aren’t many that are genuine brokers with a good reputation among traders.