No Deposit Bonus Forex 2021
For this list, we have searched and tested several forex brokers that offer no deposit bonus.
We opened real accounts and deposited between $4,000 and $8,000 with each of the brokers. We placed real trades in each popular market to get the real spreads.
We also reached out to customer support to solve issues that we hd encountered. Finally, we withdrew our funds to see if there is any issue with the withdrawal process.
We handpick the best no deposit bonus forex brokers based on our trading data and experience as a trader.
What is No Deposit Bonus?
No deposit bonus is the initial free credit offered by the forex brokers upon the opening of a new trading account. It is one of the marketing tactics used by the brokers to attract new traders.
Though the brokers run many promotional schemes, traders receive no deposit bonus without making any initial deposits. It is almost like handing out free money to new traders.
Advantages of no deposit bonus:
- New traders can start trading on the real markets without risking their own money
- Expert traders can use the no deposit bonus to run and test new strategies
But usually, there are certain conditions with which the brokers deposit the no deposit bonus to the new traders’ accounts.
For one, the traders cannot just withdraw the bonus credit to their bank account. They actually need to trade with this money, and only gains from the trades can be withdrawn. Many brokers even do not allow withdrawal without any initial deposit. These conditions, however, vary from broker to broker.
Many regulators, however, heavily restricted promotions using any kind of bonus. Reputed financial market regulators like the FCA, ASIC and other European regulators do not allow brokers to offer bonuses to traders. But there are still some good regulators that allow offering bonuses.
Different Types of Forex Bonuses
Brokers usually run many promotional offers for distributing bonuses. Though different brokers offer different schemes, the most common types of forex bonuses are:
- No Deposit Bonus: This type of bonus program does not require traders to make their first deposit with the broker. They receive the free credit just after opening the account with the broker. But, only a few well-reputed brokers still offer no deposit bonuses.
- Deposit Bonus: A deposit bonus is very common in the retail trading industry. Brokers credit a certain percentage of the deposit to the traders’ accounts after deposits are made. Usually, brokers run a tired program under which various sums are credit after a certain deposit amount with a cap on the maximum bonus.
Best No Deposit Bonus Forex Brokers
To select the best no deposit bonus forex brokers, we tested and reviewed several forex brokers. We opened live accounts and depositing real money with each broker. We also placed real trades in popular markets to get the real picture of the spread and commission, trading platform, deposits and withdrawals conditions, education, and customer service.
- Tickmill – Best Overall No Deposit Bonus Forex Broker
- XM – Forex Broker with Both Deposit and No Deposit Bonus
- FBS – Forex Broker with Highest No Deposit Bonus
Best Overall No Deposit Bonus Forex Broker
We have picked Tickmill as the best overall no deposit bonus forex broker.
Tickmill is one of the very few forex brokers still offering a no deposit bonus. The broker offers a $30 no deposit bonus only to the clients onboarded under its Seychelles-regulated entity. Tickmill is regulated in the UK, Cyprus, South Africa, Seychelles and Malaysia. But, most of the jurisdictions do not allow brokers to offer any kind of bonus.
Tickmill offers forex and CFDs trading services on Metatrader 4 platform. It offers a good number of deposit and withdrawal methods. The broker also maintains an excellent support team to help the traders.
Best MT4 No Deposit Bonus Forex Broker
We have picked XM as the best MT4 no deposit bonus forex broker.
XM is one of the few brokers that offer both deposit bonuses and no deposit bonuses. New traders on the platform can receive a $30 no deposit bonus. Additionally, the broker offers a bonus of up to $5,000, which is credited equivalent to 20% of the deposits made to it.
The XM brand is operated by Trading Point Holdings, which is licensed by the regulators in Australia, the United Kingdom, Cyprus, the UAE and Belize. However, most of the regulators do not allow brokers to offer bonuses. It offers bonuses with the Belize license.
XM lists 1,336 financial instruments that include currency pairs and CFDs of indices, stocks, and commodities.
Forex Broker with Highest No Deposit Bonus
We have picked FBS as the forex broker with the highest no deposit bonus.
FBS runs multiple promotions and bonus schemes to attract new traders. It is another broker offering both deposit and no deposit bonuses. It offers the highest $140 no deposit bonus: $70 can be claimed after opening an account, and the other $70 after downloading the broker’s mobile app (FBS Personal Area app).
FBS clients can also receive a 100% deposit bonus that is capped at $10,000. FBS is a multi-regulated broker with services globally, but offers bonuses only to the traders under the Belize entity. Apart from Belize, it is regulated in Cyprus and Australia.
FBS provides trading services with forex, indices, commodities, and stocks, and cryptocurrency CFDs. It also offers spreads below the industry average without any additional commissions on trades.
No Deposit Bonus Forex Brokers List
Apart from the shortlisted platforms, here is a complete list of brokers that offers no deposit bonus and also deposit bonus to traders:
|Forex Broker||Deposit Bonus||Details||No Deposit Bonus||Details|
|XM||100%||Bonus Details||US$30||Bonus Details|
|FBS||100%||Bonus Details||US$140||Bonus Details|
|Eightcap||US$50 – US$1,000||Bonus Details|
|AvaTrade||US$200 – US$10,000||Bonus Details|
|Amana Capital||US$200 – US$1,000||Bonus Details|
|ADSS||US$100 – US$800||Bonus Details|
|Plus500||S$70 – S$13,000||Bonus Details|
|City Index||20%||Bonus Details|
|Admiral Markets||100%||Bonus Details|
|Vantage FX||50%||Bonus Details|
|Moneta Markets||50%||Bonus Details|
|GO Markets||20%||Bonus Details|
|Blueberry Markets||20%||Bonus Details|
|ICM Capital||10%||Bonus Details|
FAQ and More on No Deposit Bonus Brokers
Traders usually have many questions related to generic trading-related queries. We tried to pick and answer some of the most important queries related to no deposit bonus forex brokers.
No Deposit Bonus Brokers in South Africa
Though many forex brokers operate in South Africa, only Tickmill is the only FSCA-regulated broker still offering a $30 no deposit forex traders. Other South African brokers offering deposit bonuses are:
No Deposit Bonus Brokers in Australia
Australian forex brokers need to be regulated by the local financial markets regulator, the Australian Securities and Investments Commission (ASIC). The ASIC does not allow brokers under its purview to offer bonuses to retail traders anymore. But, some of the Australian forex brokers offering deposit bonuses with their offshore licenses are:
- Vantage FX
- Moneta Markets
No Deposit Bonus Brokers in Malaysia
The Securities Commission of Malaysia (SCM) regulates all forex brokers operating in the country. It also allows foreign brokers to take Malaysian clients. Some of the forex brokers operating in Malaysia offering both no deposit and deposit bonuses are:
Forex Brokers with $30 No Deposit Bonus
Only a few forex brokers still offer no deposit bonuses, and most of them only offer up to $30. The two forex brokers, which we verified, offer $30 no deposit bonus are:
Forex Brokers with $50 No Deposit Bonus
Unfortunately, none of the forex brokers, out of dozens we have tested and verified, offer $50 no deposit brokers anymore. But, some of the forex brokers still offering more or less no deposit bonuses are:
Forex Brokers with $100 No Deposit Bonus
Though not exactly $100, only one broker offers no deposit bonus around that mark. FBS clients can receive up to $140 in no deposit bonus: $70 after verification and another $70 after they download the forex broker app.
Forex Brokers with $200 No Deposit Bonus
None of the forex brokers offer a no deposit bonus as high as $200 anymore. FBS is the only broker that still offers a no deposit bonus of up to $170.
MT4 No Deposit Bonus Forex Broker
MT4 is the most popular electronic platform for trading forex and CFDs. Out of the three forex brokers offering no deposit bonus, which we have tested and verified, all offer trading services on MT4. These brokers are:
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