Canada Best No Deposit Bonus Forex 2023
For this list, we have searched and tested several forex brokers that offer no deposit bonus forex Canada.
For our tests we opened real accounts and deposited between $4,000 and $8,000 with each of the brokers. Moreover, to get the actual picture we placed real trades in each popular market.
Furthermore, we reached out to customer support to see their dedication and ability to solve possible issues.
We handpick the best brokers no deposit bonus forex Canada based on our trading data and experience.
Is Forex Bonus available in Canada?
A no-deposit bonus is a type of forex promotion that rewards traders for opening new live trading accounts. The offer usually comes in the form of free money or free trading credits, which can be used to trade on the broker’s platform.
Forex bonuses can be a great way to get started in the foreign exchange market without any obligations. Some bonuses require the traders to deposit money in their accounts, other types do not require initial deposits.
- Many brokers offer no-deposit bonuses as an incentive to attract new customers.
- However, it is important to read the terms and conditions carefully before accepting a no-deposit bonus, as there may be restrictions on how the bonus can be used or limitations on withdrawal conditions.
- Important to mention that some major regulators like FCA, ASIC, and others do not allow brokers to offer bonuses.
As to no deposit bonus forex Canada, some brokers have offices in the country, although Canadians are also able to open accounts with various international brokers who may offer trading bonuses. Anyway, we never recommend signing with offshore brokers that offer alluring opportunities of bonuses to avoid possible risks.
No deposit bonus forex Canada brokers have specific conditions of depositing the bonus to the traders. This is due to the regulation restrictions. What concerns no deposit bonus Canada, there are still regulated brokers in the country with beneficial offerings.
Firstly, forex traders in Canada need to make sure that their broker is licensed with the IIROC before they open an account. See IIROC’s official website www.iiroc.ca. Or check relevant regulation based on the State, since Brokers must follow different guidelines to operate with valid licenses in this market. Read more about Canada Brokers here.
Best Forex Broker With No Deposit Bonus Canada
For this review, we have searched for the best no-deposit bonuses available from Canadian brokerages. With so many different forex brokers it can be difficult to decide which one is best for your needs. Trying to be helpful, we have opened live accounts and deposited real money with each broker to see their conditions, offerings, advantages, and disadvantages.
Based on our tests and research, we have come up with the following no deposit bonus forex Canada brokers:
- CMC Markets
Best Overall No Deposit Bonus Broker in Canada
We have picked CMC Markets as the best overall broker with no deposit bonus forex Canada.
CMC Markets, founded in 1989 is a UK forex broker. It offers financial trading services with CFDs and spread betting. CMC Markets holds licenses in the United Kingdom, Germany, Australia, Singapore, New Zealand, Canada, and the United Arab Emirates. It offers trading with the following instruments: forex, indices, stocks, commodities, and cryptocurrencies.
CMC Markets trading fees for forex, indices, cryptocurrencies and commodities are built into spreads. According to our tests for forex and commodities, the broker’s spreads are below the average.
Both deposits and withdrawals on CMC Markets are easy and fast. Deposits are possible through bank transfers, credit and debit cards, and PayPal. With CMC Markets traders can choose between two platforms: MT4 and Next Generation platform (Proprietary platform).
The broker offers a quality education section. It includes text-based tutorials, video tutorials on trading, explainer videos for tools, webinars, Demo accounts.
Best Broker with Bonus for Beginners Canada
We have picked RoboForex as the best no deposit bonus forex Canada broker for beginners.
RoboMarkets or known also as RoboForex is a forex and CFDs broker, headquartered in Cyprus. The broker is regulated in Cyprus, Belarus, and Belize. RoboForex offerings include forex, stocks, indices, and commodities.
Generally, the broker’s fees are built into spreads. However, for its higher-tier accounts commission is also charged. Based on our tests, the spreads are either industry average level or slightly lower. Clients have an opportunity to choose one of the three available trading platforms: R Trader (proprietary platform), MT4, MT5.
We have chosen RoboForex as the best no deposit bonus Canada broker for beginners, as it offers a great education section with an abundance of helpful materials. RoboMarkets offers decent educational resources. The section includes detailed courses on forex trading, video guides, webinars, and a Demo account.
Best MT4 Deposit Bonus Forex Broker
We have picked Forex.com as the best MT4 deposit bonus forex broker Canada.
Forex.com was founded in 1999 in the US. Forex.com is a trustable broker regulated by FCA, IIROC, ASIC, CFTC. The broker offers a number of tradable instruments: Currency pairs, Bitcoin and Ethereum, indices, shares, and commodities. Forex.com offers three account types: Standard Account, Commission Account, Direct Market Access Account.
Forex.com offers three trading platform options to its clients. One of them is its proprietary platform. However, traders, who prefer popular industry platforms MT4 and MT5 can still choose one of those. What is more, we have picked Forex.com as the best MT4 no deposit forex broker Canada, as the broker’s MT4 platform includes all the necessary tools and features for favorable trades.
No Deposit Canada Bonus Forex Brokers List
In an attempt to be helpful, we have made a complete list of brokers that offer no deposit bonus forex Canada to traders:
|Canada Forex Broker||IIROC Regulated||Our Review|
|CMC Markets||Yes||CMC Markets Review|
|Interactive Brokers||Yes||Interactive Brokers website|
FAQ and More on Forex Trading Bonus in Canada
Traders usually have many questions related to essential trading-related queries. To be helpful, we tried to pick and answer some of the most important queries related to no deposit bonus forex Canada brokers. Also, read more about no deposit bonus forex 2022 India.
Forex No Deposit Bonus Without Verification
Is it possible to get a Forex no deposit bonus without verifying your account? This is a question that many traders have. Generally, only bonuses on Demo accounts do not require verification. As to live accounts, for bonuses that traders will be able to withdraw based on trading progress, verification is a must.
Canadian Welcome Bonus Forex $50
Our tests revealed that there are still brokers that offer welcome bonuses. According to our tests, Forex.com provides a welcome bonus to traders. However, the bonus is not exactly $50. It can vary according to the deposit amount. The clients get a 20% bonus of the amount they fund into their accounts.
Canada No Deposit Bonus Forex $100
We have tested many brokers and found that no forex broker in Canada offers a no deposit bonus as high as $100. There are brokers, however, that offer bonuses based on the deposits of the traders. Some of them, for instance, RoboForex, offer even up to 120% bonuses for the first and the following deposits.
However, there are many factors that may determine the bonus amount. For more details, traders can go through the broker’s offers and conditions.
Author of this review
By George Rossi
Author of this review
I am a well-rounded financial services professional experienced in fundamental and technical analysis, global macroeconomic research, foreign exchange and commodity markets and an independent trader.
Now I am passionate about reviewing and comparing forex brokers.
Everything you find on BrokerTested is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology