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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.

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It is important to note that the funds given by the broker cannot be withdrawn by the trader.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.

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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

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Daily Financial News

Mexico raises interest rates, cites Trump as risk

The head of Mexico’s central bank says U.S. Republican candidate Donald Trump represents a “hurricane” sized threat to Mexico.

Banco de Mexico Gov. Agustin Carstens told the Radio Formula network Friday that a Trump presidency “would be a hurricane and a particularly intense one if he fulfills what he has been saying in his campaign.”

Trump has proposed building a wall along the border and re-negotiating the North American Free Trade Agreement.

Mexico’s central bank raised its prime lending rate by half a percent to 4.75 percent Thursday, citing “nervousness surrounding the possible consequences of the U.S. elections, whose implications for Mexico could be particularly significant.”

Mexico’s peso had lost about 6 percent in value against the dollar since mid-August. It recovered slightly after the rate hike

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Financial News

Africa’s first Fairtrade certified gold co-operative offers hope to gold miners living in poverty

Syanyonja Artisan Miners’ Alliance (SAMA) has become the first artisanal small scale mining co-operative in Africa to become Fairtrade certified, bringing much needed hope to impoverished communities who risk their lives to mine the rich gold seam that runs around Lake Victoria.

SAMA is one of nine previously informal groups from Uganda, Kenya and Tanzania which has benefitted from a pilot project launched by Fairtrade in 2013. This innovative program aims to extend the benefits of Fairtrade gold to artisanal miners across East Africa.

In that short time, SAMA has undergone training in business and entrepreneurship, as well as safe use of mercury, internal control systems, labour rights and better working conditions, health and safety and more. Previously, daily contact with toxic chemicals used to process gold meant members risked disease, premature births and even death.  Fairtrade gold was first launched in 2011, and SAMA now joins Fairtrade certified gold mines MACDESA, AURELSA and SOTRAMI in Peru.

The co-operative produces just 5 kg gold per year, but nevertheless has the potential to significantly benefit many people in the local community through better conditions through certification. It is expected that Fairtrade and organizations like Cred Jewellery will support the miners, ensuring their gold can be refined and made available to jewellers in the UK and other markets.

Gonzaga Mungai, Gold Manager at Fairtrade Africa said: “This is a truly momentous and historical achievement and the realisation of a dream that is many years in the making. Gold production is an important source of income for people in rural economies. Congratulations to SAMA, it sets a precedent which shows that if groups like this can achieve certification, then it can work for others right across the African continent.”

The Fairtrade Gold Standard encourages better practice and changes to come in line with international regulation around the production and trade of so-called ‘conflict minerals’. Under the Standard, miners are required to:

  • Uphold a human rights policy preventing war crimes, bribery, money laundering and child labour
  • Clearly represent where the minerals were mined
  • Minimise the risks of conflict minerals through robust risk assessments and collaboration across supply chains
  • Report to buyers and trading partners regarding the risks of conflict minerals

Now in its second phase, the programme will focus on supporting other mining groups in the region to access affordable loans and explore a phased approach to accessing the Fairtrade market, allowing more mining co-operatives across Africa to participate in the programme.

Gonzaga added: “Sourcing African metals from smallscale miners in the Great Lakes Region is the responsible thing to do. For a long time companies have avoided buying gold from this region, with devastating consequences for impoverished communities who were already struggling. It has driven trade deeper underground, as unscrupulous buyers pay lower prices and launder illegal gold into legitimate supply chains. That’s why we have chosen to work with these groups to help them earn more from their gold within a robust compliance system that offers social, environmental, and economic protections.”

The Fairtrade gold programme offers a small but scalable solution to sustainable sourcing of gold from the region in line with Section 1502 of the Dodd-Frank Act in the US, OECD Due Diligence Guidance and recent EU Supply-Chain Due Diligence proposals which could come into effect in 2016. This means that up to 880,000 EU firms that use tin, tungsten, tantalum and gold in manufacturing consumer products could be obliged to provide information on steps they have taken to identify and address risks in their supply chains for so-called ‘conflict minerals’.

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