Industry News

10 Best Forex Brokers Who Offer No Deposit Bonus – Rekord East

The term “no deposit” means that the brokerage company you chose to trade with allow to start trading without having to worry about funding their own trading account. Usually your broker will provide the trader with a certain amount of money as a welcome benefit.

Table of Contents

What does “no deposit bonus “mean?

The term “no deposit” means that the brokerage company you chose to trade with allow to start trading without having to worry about funding their own trading account.

Usually your broker will provide the trader with a certain amount of money as a welcome benefit.

This advantage allows the trader to learn to trade the market without having to invest any of their own personal funds into their account.

Is this type of incentive common among Forex Brokers?

Yes, this is very common amongst brokerage companies across the world. The amount payable to the trader varies depending on the company set-up, but the concept stays the same.

Most beginner traders are a bit sceptical when it comes to investing their own funds in the financial markets. Therefore, firms provide them with the welcome bonus option. The idea is that once the trader feels comfortable with the tools and brokers services, he/she will be more willing to invest their own money into their trading account.

It is important to note that the funds given by the broker cannot be withdrawn by the trader. These funds must be used to learn how to trade and make money online. The broker you choose to trade with will have certain requirements that the trader needs to comply with upon receiving this type of incentive.

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How do I receive my welcome bonus?

This all depends on the broker and their company set-up. In most cases, the trader will be required to open an account with the firm and provide their broker with personal details such as name, surname, e-mail address and even in some cases -your mobile number and proof of identity.

It is better to get your account verified before starting to trade. This will make your withdrawing process a lot easier, should you reach a stage where you feel like extracting all the profits incurred.

Advantages and disadvantages of a no deposit welcome bonus

Some of the advantage’s traders can look forward to upon receiving their welcome bonus includes;

As a trader, the biggest advantage you well receive is the fact that you are getting the opportunity to actively engage in the financial markets without having to invest your own money.
Have the opportunity to practise trading in multiple financial markets, some of which include forex, commodities and even cryptocurrencies.
All the profits made during your trading experience is yours to keep.
The bonus has a lifeline. After a certain duration, outlined by the broker, the bonus will expire and no longer cease to exist.

Our list of ten “No Deposit Bonus” Forex Brokers in 2020

1. Tickmill

Tickmill, also known as Tickmill Ltd, is an accredited forex broker that is recognised by the Seychelles Financial Services Authority, the Cyprus Securities and Exchange Commission and even the Financial Conduct Authority.

This company has more than one hundred and fifty employees working to assist traders to engage in profitable trades online.

When you choose to trade with Tickmill, you will be granted immediate access to more than eighty different trading instruments and spread options as low as 0.0 pips.

*As of 23 June 2020.

Pros

Start your trading career the right way with the Tickmill thirty-dollar welcome account. This option is specifically aimed at new clients who wish to join the Tickmill family. As a trader who chooses this account option, you will not have to deposit any funds into your account since Tickmill provides you with thirty dollars free to use for trading.
To ensure the safety of their client’s funds, Tickmill makes use of a segregated account, in which all their trader’s funds are kept separately from that of the brokers.
Tickmill has an Islamic account option for all Muslim traders. This account is a swap free option that complies with the Sharia Laws.

Cons

Existing clients cannot use the Tickmill thirty-dollar trading account.
New clients are only allowed to open one welcome account with Tickmill. This account option will be kept open for a duration of sixty days i.e. two months.
All people who are interested in opening an active trading account with Tickmill as their broker need to be at least eighteen years of age before they can successfully register as a trader with any broker online. Tickmill does require the client to provide legal documentation to verify their trading account before engaging with the markets. These documents can include proof of identity or even proof of residence.

2. SuperForex

Choose a broker that has a global presence online. SuperForex is an internationally acclaimed broker that has clients located in over one hundred and fifty different countries worldwide.

This broker is regulated with the International Financial Services Commission (IFSC) and has a team of professionals working twenty-four-hours a day to help their clients with all their trading queries.

SuperForex supplies their traders with multiple trading account options to use to trade online. These accounts are broken down into two distinct groups; the STP account group and ECN account group. Traders are also provided with a demo account option that allows them to get a practise trading online.

*As of 23 June 2020.

Pros

New traders who choose to work with SuperForex as their broker will receive as welcome bonus of fifty dollars to use to trade with. This incentive is given to those traders who have not yet opening an active trading account with SuperForex, but are interested in the concept of trading. Simply open and verify an account with SuperForex before selecting the “Get the No Deposit Bonus” option on their website.
All SuperForex clients can take comfort in the fact that they will receive twenty-four-hour customer support over five days a week. This ensures that traders can ask for assistance at any time needed.

Cons

If you would like to receive a second bonus, traders would need to make a deposit of ten dollars into their account.

3. XM

Get daily access to forex trading research and market signals when you become a member of the XM family. This broker has been facilitating transactions in the Foreign Exchange Markets since 2009, and has grown to reach international brokerage status, with more than three million traders registered on their platform in over one hundred and ninety-six different countries worldwide.

XM aims to share their expert services with people who are interested in investing in the financial markets. The company has a team of four hundred and fifty staff members who are ready to assist you in becoming the most successful trader in your country.

Besides receiving unlimited access to the financial markets, all XM clients will also get twenty-four-hour customer support over five days a week.

And if that’s not enough, XM provides sixteen different platform for trading, and supports over thirty different language variants on their website.

*As of 23 June 2020.

Pros

XM traders will receive a bonus of one hundred-thousand-dollars’ worth of currency when they open a demo account online.
Those traders who opt for a live trading account will receive thirty dollars free that they can use to trade.
The company does not charge their traders with any deposit or withdrawal fees.

Cons

All traders who choose to use a debit/credit card for withdrawals will have to wait for a period of two to five working days before the money can reflect into your account.
The company does not allow traders residing in the United States of America, Canada, Iran and Israel to use their services for trading.

4. RoboForex

RoboForex was established in 2009 and has since assisted more than eight hundred thousand traders who are in one hundred and sixty-nine different countries across the world.

RoboForex is a regulated forex broker that is recognised by the International Financial Services Commission Belize under the license number IFSC/60/217/TS.

When you choose to trade with RoboForex, you are choosing an award-winning broker that holds over then prestigious awards. Some of the most recent titles received by the company includes Best Global Mobile Trading App, Best Broker of CIS and Best Investment Platform.

*As of 23 June 2020.

Pros

RoboForex is a regulated forex broker that gives a welcome bonus of thirty dollars (or three thousand cents, depending on which account type the trader chooses) to each and every trader that opens an active trading account online. This allows their traders to learn how to trade online without having to invest too much of their funds during the initial stages of their forex trading journey.
RoboForex provides their traders with the option to invest in eight different asset classes, and access to over twenty secure online payment methods to use to fund their forex trading account with real money.
The company provides traders with a swap-free Islamic forex trading account.

Cons

The thirty-dollar welcome bonus only applies to traders who choose to use a Pro Cent or Pro Standard account on the MetaTrader 4 platform.
It takes five working days for your welcome bonus to be transferred into your trading account.

5. Fresh Forex

Fresh Forex has more than fifteen years of experience as a broker in the financial markets. Traders who choose to use this broker as their service provider will be able to trade with leverages of 1:2000 and spreads starting from as little as 0 pips.

Fresh Forex is an accredited broker that is recognised by the Financial Services Authority of Saint Vincent and the Grenadines. This broker has clients from one hundred and fifty-eight different countries across the world using their services online and provides access to more than one hundred and thirty tradable instruments.

*As of 23 June 2020.

Pros

New clients who sign-up with Fresh Forex as their broker of choice will receive two hundred and twenty thousand dollars to use to trade online as part of their welcome bonus. To receive this incentive, traders need to open a Classic, Market Pro or ECN trading account online.

Cons

All traders who choose to open an account with Fresh Forex need to be at least eighteen years of age.
The welcome bonus can only be used for seven consecutive days.

6. FBS

FBS is known as one of the most popular international brokerage companies for trading. Over the years, FBS has assisted approximately fifteen million traders in over one hundred and ninety-six countries worldwide.

This brokers mission is to provide their clients with the most innovative platform for trading and supply quality forex trading education online. These resources will ultimately benefit the trader and assist them with making informed decisions online.

FBS is regulated by the International Financial Services Commission Belize under the license number IFSC/60/230/TS/19. This firm has been operating as a broker in the financial markets since 2009. Within the first year of operating, FBS had a total of fifty thousand clients registered on their platform.

In terms of trading, FBS allows their traders access to the Forex, Stocks, Metals, and even CFD’s markets.

*As of 23 June 2020.

Pros

FBS accommodates all Muslim traders who are interested in buying and selling foreign currencies online with a swap-free Islamic account.
All new traders who register with this broker will receive a welcome bonus. The Trade 100 bonus allows traders to have the opportunity to learn all about trading before investing your own money. FBS issues new traders with one hundred dollars and access to their educational resources online when they sign up as a client with the company.

Cons

The FBS Trade 100 bonus is only available for a period of thirty consecutive days and allows trading on a minimum of five lots.
All traders living in countries such as the United States of America, Japan, Canada, the United Kingdom, Myanmar, Brazil, Malaysia, Iran and Israel are not allowed to use FBS services for trading.

7. InstaForex

Receive instant access to more than three hundred different market tools when you register as a trader with InstaForex.

This broker has been assisting traders across the word buy and sell foreign currencies online since 2007 and holds a total of more than seven million clients using their platform online.

InstaForex aims to ensure that their clients have all the necessary resources and support they would need to make successful and profitable trades in the Foreign Exchange Markets. The company has more than two hundred and sixty offices located across the world.

InstaForex also supplies their traders with twenty-four-hour customer support for seven days a week. This allows the traders the opportunity to seek assistance at any time, whenever they may need it.

*As of 23 June 2020.

Pros

InstaForex supplies new clients with the opportunity to receive a one-thousand-dollar bonus when they choose to use InstaForex as their broker of choice. Once a trader requests to receive their welcome bonus, the broke will automatically be credited into your account, should your request be approved.
This broker makes it possible for their traders to access easy and quick deposit and withdrawal methods online.

Cons

All traders who receive the one-thousand-dollar welcome bonus will not be allowed to withdraw the funds from their trading account. It is strictly for trading purposes only.
InstaForex requires all new clients to open a trading account on the MetaTrader 4 platform, should they wish to benefit from this bonus.

8. FXOpen

Engage in ECN trading on the MetaTrader 4 platform when you register as a trader with FXOpen.

FXOpen has been providing their services as a broker since 2005, and allows their clients to invest in the Cryptocurrencies, and Forex markets online, and provides four very distinct account options for their trading purposes.

Back in 2013, the FXOpen London branch was launched and received its regulation license with the Financial Services Authority. The company is registered under the number 579202.

*As of 23 June 2020.

Pros

FXOpen provides new clients with an added advantage of a ten-dollar welcome bonus, should they choose to trade with FXOpen as their broker of choice. The ten-dollar welcome bonus allows new clients to trade without having to invest their own money.

Cons

The FXOpen ten-dollar welcome bonus must be used on an STP account option.
New clients who choose to trade with a Micro account will only receive a no deposit welcome bonus of one dollar.
Unfortunately, due to regional restrictions that the company holds, all traders living in the United States of America are not allowed to use this broker’s services for trading.

9. FXGiants

FXGiants is a multilingual forex trading platform that allows their clients the opportunity to trade with more than two hundred assets. Millions of traders worldwide have chosen this firm to assist them with buying and selling in the Foreign Exchange Markets. This is because the company offers transparent services to their traders.

FXGiants provides their traders with twenty-four-hour customer support during five days a week i.e. Monday to Friday. This broker also makes sure that their clients have multiple funding methods to use to deposit funds and withdraw their profits from their trading account.

*As of 23 June 2020.

Pros

When you choose to trade with FXGiants as tour broker of choice, you will receive a thirty-dollar credit bonus courtesy of FXGiants, should you choose to versify your account via email.
New clients who choose to use mobile verification their forex trading account will receive a forty dollar no deposit welcome bonus into their trading account.

Cons

All beginner traders need to understand that they will not be allowed to withdraw the bonus funds from their trading account. The bonus should be used for trading purposes only.
People who are interested in opening an account with FXGiants need to ensure that they are at least eighteen years of age.
FXGiants does not allow any person residing in countries such as the United States of America, Cuba, Iran, Sudan, Syria and North Korea to use their platform for trading.

10. JustForex

Join the JustForex community today to start actively buying and selling foreign currencies online. This company has millions of traders registered to use their platform in roughly one hundred and ninety-seven countries worldwide.

JustForex bases their company success on the level of professionalism their traders receive daily. The company has a team of skilled staff members who are ready to assist you with all your trading needs. This ultimately creates a great trading environment for all their clients to use online.

When you start trading with JustForex, you will obtain access to more than one hundred and seventy tradable instruments and leverages from 1:1 to 1: 3000.

This broker is recognised by the Financial Services Authority, under the license number 23993.

*As of 23 June 2020.

Pros

When you decide to become a trader with Just Forex as your broker, you will receive a welcome bonus that is yours to use on the MetaTrader 4 platform. All you need to do is register and open an account with JustForex online and verify your account before having the funds paid into your trading account.
JustForex has a wide variety of deposit and withdrawal methods to use online. These include the likes of Skrill, Bitcoin and even VISA.
You can choose to download the JustForex mobile trading app straight on to your Android or iOS device today. Simply head on over to the Apple App Store or Google Play Store to download and install the software on to your device.

Cons

All withdrawals made online may take anywhere between one to two hours to reflect into the traders account.

As a new trader, we know that it can be a daunting task to try and find a forex broker that you are comfortable with. While on your search, be sure to take out some time to view the ten best forex brokers with no deposit bonus options online. This is a risk-free option that will ultimately asset you in figuring out if the firm is the right one for you.

Visit Diversit-e Smart Trade College’s website and learn how to trade Forex, Stocks, Commodities, CFDs and Bitcoin.

Daily Financial News

What is the best crypto wallet ?

What is the best crypto wallet: a hardware wallet, a software wallet, or a mobile wallet?

In the early stages of learning how to use Bitcoin, the security question arises: how to ensure your coins remain in your possession? Only by generating and storing keys in a way that can be verified can you be certain. It is impossible to be sure no one else has a copy of your keys unless you know they were created properly and stored offline.

Hardware wallets create your keys offline using a random number generator, so they cannot be logged. Additionally, the keys are kept permanently offline, so they cannot be accidentally shared on a network.

In software wallets and mobile wallets, random number generators are often built into the device the wallet is installed on. Since they use inputs like the current time to calculate randomness, they are difficult to verify and generally not secure. Even if your device generates randomness in a secure manner, host the resulting keys on a networked device, and an attacker can extract, view, or intercept them at any time.

It is transparent to verify that open-source hardware wallets create and store randomness securely, and that your keys are kept offline while being protected from threats like phishing. It is different in the case of open-source Bitcoin wallet though.

In addition to protecting against other vulnerabilities, hardware wallets resolve new attacks both progressively and reactively among security researchers. Supporting bug bounty programs ensures that all types of security issues are regularly checked.

What is the best crypto wallet_ a hardware wallet, a software wallet, or a mobile wallet_

Stay more secure everywhere

Hardware wallets have set a new standard for universal cybersecurity, as we discussed above. According to speculators, the future of the internet – dubbed Web3 – will rely on cryptographically secure keys backed up physically. In the cryptosphere, as well as in everyday business, e-commerce, and social media, hardware wallets are essential.

Your assets and identity are both protected offline when you use a hardware wallet for authentication, so there is no counterparty risk.

As a result of forgetting passwords and changing authenticator devices, security has long relied on third parties. Using the open recovery seed standard, users can backup their accounts safely without relying on a third party and recover accounts from any compatible device. Using Shamir backup, the recovery seed is split into multiple equal parts for stronger security.

Keeping in mind that not just crypto can be targeted is important. Similarly, your data can be leaked, resulting in phishing attacks, hostage situations, or compromised devices arriving by mail.

It has become easier and more affordable for everyone to have verifiable security thanks to hardware wallets.

The base layer of crypto security is hardware wallets

By bridging the digital and physical worlds, hardware wallets create digital keys offline and keep them safe. Crypto assets can be controlled with the keys in many ways, such as two-factor authentication, digital signatures, or two-factor authentication.

With open standards, you can ensure the same level of security across any app you use. As a result, dozens of hardware wallet manufacturers have appeared around the world, accelerating the adoption of crypto security and ensuring standards are maintained to ensure your coins remain yours regardless of wallet.

Industry News

School4Trading Review – How to Spot Possible Forex Broker Fraud

In this School4trading Review, we will look at the features of the software, as well as the customer support. First, let us look at the interface. The design is simple and easy to navigate. It also provides a chatbot, which helps you to communicate with the broker. The customer service is warm and inviting, which is a hallmark of a good broker. In contrast, a fraudulent broker will use cold and impersonal customer support to lure people in.

Another problem with the system is that the login process is not always intuitive. You may have to retype your password several times to get in. Then, you may experience difficulties withdrawing your funds or accessing your account. In such cases, you might have to wait for days or even weeks before you can withdraw the money you’ve invested. This is not a good sign. It’s better to choose a different trading platform altogether.

If you’re having trouble logging in, you should also check the legitimacy of the broker. Whether the broker is licensed by a reliable regulatory body or closed down, you’ll want to be sure it’s legitimate. If the broker isn’t licensed by the right body, don’t trust him. You shouldn’t waste your time with an inexperienced company. This will only cause you problems in the long run.

The next factor that should be checked is the licensing. A legitimate broker will have a license from a high regulatory body. However, a broker without a license will be unreliable. Moreover, a reliable regulator will take away the license of a scam broker. As a result, a trustworthy School4Broker/Profittrade review should mention fees, account rules, and contract terms. A scam broker will be unable to operate legally.

Secondly, look for warning signs. The broker should be licensed and regulated by a reliable regulatory body. It should be regulated by a high level. If it doesn’t, it’s a scam. Lastly, it should have a website that lets you easily access your account. Moreover, you should not hesitate to check the contact information. If you find any information that seems suspicious, you should reconsider using the broker.

In summary, Forex trading isn’t easy, but it doesn’t have to be complicated. It’s not as difficult as it seems if you’ve heard about the program. You’ll learn everything about the basics and how to become a professional. But if you’re still unsure about whether this program is right for you, don’t hesitate to contact a school4trading’s website.

The most important thing to remember when it comes to Forex trading is that it’s not easy. While it’s important to have a strong background in trading, there are a number of factors that can affect your success. Having a proper plan is vital in the long run, because you will be trading with real money. And, the platform should be reliable. Otherwise, you’ll end up losing a lot of money.

As we’ve mentioned, Forex is not easy. Investing isn’t something you can do in the comfort of your own home. You need a proven system. There are no free trials, so you’ll have to find a way to do it yourself. This isn’t a scam, and it’s a great way to make money without any help. A Forex system can help you learn the intricacies of the market.

Although the process of learning Forex isn’t an easy one, it’s certainly not impossible. Fortunately, there are many people who are willing to take the time to learn how to trade. But, even the most experienced trader needs to be aware of the risks of the market. While Forex trading isn’t easy, it can be done with the right knowledge. The software’s user-friendly interface is key.

Daily Financial News

Don’t Count On JPY Correction; Staying Long GBP/JPY

The path of the potential pace of the JPY decline may still be underestimated by markets, which continue trading the JPY long.

While the 10% USDJPY advance from September lows looks impressive from a momentum point of view, it may no thave been driven by Japan’s institutional investors reducing their hedging ratios or Japan’s household sector reestablishing carry trades.

Instead, investors seemed to have been caught on the wrong foot, concerned about a sudden decline of risk appetite or the incoming US administration being focused on trade issues and not on spending. Spending requires funding and indeed the President-elect Trump’s team appears to be focused on funding. Here are a few examples: Reducing corporate taxation may pave the way for US corporates repatriating some of their USD2.6trn accumulated foreign profits. Cutting bank regulation could increase the risk-absorbing capacity within bank balance sheets. Hence, funding conditions – including for the sovereign – might generally ease. De-regulating the oil sector would help the trade balance, slowing the anticipated increase in the US current account deficit. The US current account deficit presently runs at 2.6% of GDP, which is below worrisome levels. Should the incoming government push for early trade restrictions, reaction (including Asian sovereigns reducing their holdings) could increase US funding costs, which runs against the interest of the Trump team.

Instead of counting on risk aversion to stop the JPY depreciation, we expect nominal yield differentials and the Fed moderately hiking rates to unleash capital outflows from Japan.The yield differential argumenthas become more compelling with the BoJ turning into yield curve managers. Via this policy move, rising inflation rates push JPY real rates and yields lower, which will weaken the JPY. Exhibit 12 shows how much Japan’s labor market conditions have tightened. A minor surge in corporate profitability may now be sufficient, pushing Japan wages up and implicity real yields lower.

JPY dynamics are diametrical to last year . Last year, the JGB’s “exhausted”yield curve left the BoJ without a tool to push real yields low enough to adequately address the weakened nominal GDP outlook. JPY remained artificially high at a time when the US opted for sharply lower real yields. USDJPY had to decline, triggering JPY bullish secondround effects via JPY-based financial institutions increasing their FX hedge ratios and Japan’s retail sector cutting its carry trade exposures. Now the opposite seems to be happening. The managed JGB curve suggests rising inflation expectations are driving Japan’s real yield lower. The Fed reluctantly hiking rates may keep risk appetite supported but increase USD hedging costs.Financial institutions reducinghedge ratios and Japan’s household sector piling back into the carry trade could provide secondround JPY weakening effects