South african forex brokers with no deposit bonus

Ranked #2 no deposit bonus forex broker getting XM broker’s $30 no deposit bonus is a straightforward process and the amount is credited to the trading account after registration and account verification.

No deposit forex bonuses

Best No Deposit Bonus Forex Brokers 2020, south african forex brokers with no deposit bonus.

This bonus can be used straightaway to start trading with access to the MT4 and MT5 platforms. This account would also provide access to MT4 live trading without making any further deposits.

Best no deposit bonus forex brokers 2020

We've listed the top no deposit bonus forex brokers that offer bonuses ranging from $10 to $100.

In forex trading, an initial capital is required to open a live account. This capital is used to place orders in the market.

No deposit bonus by a forex broker is a service extended in form of free capital that the trader gets in his/her real trading account while starting to trade with the broker. This free capital is the bonus given by the forex broker, so you can start trading without risk of investing your money.

These “no deposit bonus” programs are mostly offered by brokers to attract new customers. But, as these “no deposit bonuses” are provided free of charge, there are certain guidelines, withdrawal restrictions etc. That depend from broker to broker.

Although there are quite many bonus programs out there, but we have only listed the no deposit bonus by forex brokers that are popular & well regulated globally.

Best no deposit bonus forex brokers in south africa for 2020

XM – $30 no deposit forex bonus

Fxopen – $10 forex bonus

FBS – $100 no deposit bonus

Tickmill – $30 no deposit bonus

Hotforex – 100% first deposit bonus (on $250+ deposit)

Best no deposit bonus forex brokers compared

We have compared the bonus conditions & terms for all the forex brokers that offer no deposit bonus to south african traders.

1. XM no deposit bonus – $30

Overall rating 9.0/10

Benchmark EUR/USD spread: on average 1.5 pips.

Welcome bonus: $30 (profits can be withdrawn)

Regulation: ASIC

Ranked #1 no deposit bonus forex broker

XM broker gives a $30 “no deposit bonus” to new traders only if you sign up for it via their special page. XM is a reputed broker so they are considered safe.

Getting XM broker’s $30 no deposit bonus is a straightforward process and the amount is credited to the trading account after registration and account verification. This bonus can be used straightaway to start trading with access to the MT4 and MT5 platforms. This account would also provide access to MT4 live trading without making any further deposits.

Note: it should be kept in mind that this bonus cannot be withdrawn, only the profits made can be withdrawn provided certain volume conditions & terms are met.

2. Tickmill no deposit bonus – $30 (not available currently in SA)

Overall rating 8.0/10

Benchmark EUR/USD spread: on average 1.6 pips.

Welcome bonus: $30 (profits can be withdrawn)

Regulation: FSCA, FCA

Ranked #2 no deposit bonus forex broker

Tickmill is a FSCA regulated forex broker, and also regulated by multiple top tier regulators including FCA. So they are considered safe.

Tickmill was founded in 2014 and offers attractive trading conditions. They provide various trading instruments like forex, stock indices & oil, precious metals and bonds. They provide MT4 and webtrader platforms. They are regulated with top tier bodies like FSA SC, FSA UK, and cysec.

Update: tickmill’s ‘no deposit bonus’ is not available for traders in south africa currently. New traders can signup for a live account with $30 as a bonus into the trading account. This trading account has trading conditions similar to the pro account, benefits of which include low spreads and commission, multiple asset classes, etc. A point worth noting here is the use of expert advisors (eas) is not allowed on welcome accounts.

Tips for wisely using the no deposit forex bonus

It is very easy to see the no deposit bonus as free cash, but it is not. In most cases (with reputed brokers) there will be many terms levied by the broker before you can withdraw any profits made with the bonus.

Traders should treat this bonus as a trading investment to learn and apply their trading strategies in real market conditions.

Following are some tips on how to best use the no deposit bonus:
1) all forex brokers that offer no deposit bonus will have the terms and conditions about it – including conditions for withdrawing profits made with the bonus. So carefully read all the terms & fine prints, understand all those conditions before signing up.

If there is any ambiguity in the terms and conditions, make sure to clarify the doubts with the broker before opting for the broker.

2) some broker may offer bonus that would seem to be really attractive. However, the broker’s reputation & regulations should be considered before choosing any such broker, even in case if it is a free bonus. An exciting bonus should not be the only point to start trading with the broker.

3) always keep in mind that the no deposit bonus is an initial capital for trading and not free cash which can be used otherwise.

The real intention here is to trade properly and earn profits. One should be clear about their trading goals. Hence, we should keep our trading strategies and requirements in mind in order to put the bonus to its intended use.

No deposit bonus is a win-win situation for both the broker and the customer. While the broker will increase its customer base, the customer can train oneself and gain useful insights from trading by using the free bonus.

However, you should be mindful of not falling into false traps and see it as investment capital. You should instead wisely use the bonus to learn trading with a reputed broker & test your strategy in real market conditions.

Frequently asked questions: no deposit bonus forex brokers

Which forex brokers offer no deposit bonus in south africa?

Many forex brokers offer no deposit bonus & most of them accept SA based traders. But we have only reviewed & tested the welcome no deposit bonus by 3 popular brokers:

XM – $30 bonus: ASIC regulated broker.

Fxopen – $10 bonus: FCA regulated broker.

FBS – $100 no deposit bonus FCA regulated broker

Can I withdraw the no deposit forex bonus?

This depends on the broker, but generally the profits made with trading bonus are withdraw-able provided some conditions are met. Almost all brokers that offer no deposit welcome bonus impose strict terms & trading volume requirements before you can withdraw any profits.

It is best to read the terms of the bonus before signing up, so that you don’t get surprises later.

Are no deposit bonus brokers safe?

Unfortunately not all brokers are safe. Most brokers that offer no deposit bonuses are not trusted. That is why it is really important to only choose a broker that is reputed & well regulated. If a regulated & popular broker is offering no deposit bonus then there are lesser risks.

As per our check XM broker, fxopen are brokers that are regulated with at-least 1 top tier regulator & offer no deposit bonus. But you should still carefully read terms of these brokers before signing up for any of their bonus.

No deposit bonus brokers comparison summary

Here are our 3 recommended best no deposit bonus forex brokers for 2020.

Trading cfds is risky. Your capital is at risk.
Disclosure: we earn a commission if you sign up with a broker through referral links in this review. This helps us cover the expenses for running the website.

XM $30 welcome no deposit bonus

Forexbrokers.Co.Za is a broker comparison & education website for south africans. We aim to help traders in south africa find the best forex brokers. Read more..

Best rated forex brokers

Helpful links

Best south african forex brokers

Forex trading in south africa

Best ECN brokers

FSCA regulated forex brokers

Best bitcoin brokers

Forex trading platforms in south africa

Forex trading apps in south africa

Metatrader 4 brokers in south africa

Best forex brokers that offer ZAR accounts

No deposit bonus forex brokers in south africa

Best forex brokers for beginners in south africa

Risk disclaimer

Risk warning: trading leveraged instruments such as forex & cfds are risky and can result in lose of your capital. Read full risk disclaimer..

What is no deposit bonus and how to choose the best one

Welcoming bonuses are one of the most popular ways for brokers to attract customers. It has some of the best advantages you can think of – you get free money on your account that you can use for stress-free trading, it gives you the possibility to test out the broker as well as yourself and get the full experience of how trading actually works. At the same time, it is good for the brokers as they can stand out from others.

Thus, forex free no deposit bonuses are popular worldwide. But even so, sometimes it can be very hard to find a good deposit bonus as all of them come with certain conditions. Even more, there might be a scam broker behind it. Since it is a very common practice and since the no deposit bonuses are very popular I decided to explain what they are, how do they work, why it is a good idea to take it and where to find the best south african no deposit bonus conditions.

What is a no deposit bonus?

If you’ve been searching for a new broker to trade with you would see that some of them are offering welcome no deposit bonuses to new customers. It is kind of a greeting for newly registered users. The amount of these bonuses are not very high and mostly varies between ZAR 400 and ZAR 700, some broker can offer higher bonuses as well. Why would the broker offer me free money? – you might ask. There is a simple explanation for it. Offering no deposit bonuses is a very good way for brokers to attract new customers. Let’s put it this way: you have spent hours to find a good broker to start trading with, out of thousand brokers you ended up with two that you evenly like and now you need to decide between them. One of these brokers is offering the welcoming bonus of ZAR 400. The other brokerage does not have a bonus. In this situation, it would be logical if you choose the broker that is offering free no deposit bonus. The reason is quite simple, as it helps to determine the quality of the company as mentioned earlier.

How do no deposit bonuses work?

Welcoming bonuses are easy to get and easy to use as well. After registration, in many cases, you will need to verify your account. However, you can find forex no deposit bonus without verification as well. When you finish the whole registration process the bonus amount will be transferred to your account automatically. Usually, it takes a short time but in some cases, it might take up to 24 hours. The best thing is that you do not need to deposit any money on your account in order to receive it. When the bonus is transfered, you can start trading immediately. You do not need to worry about losing if your trades end up being a loss, however, if you trade successfully you will receive the profits. This is another big advantage of the no deposit bonus. Speaking of advantages, let’s discuss it more broadly.

Advantages of forex no deposit bonuses

A great thing about no deposit bonuses is that it is equally accessible for both experienced and beginner traders. Everyone can claim and use the welcoming bonus when creating an account with the new broker. It also means that traders with all the levels of experience and even without any of it – can find something that is good in it.

Stress is one of the major factors that hinder the traders while trading, it happens to everyone but is most common among the inexperienced traders. The stress is of course due to the risk of losing the trade and therefore losing the money. While trading with no deposit bonus one can be free from the risk and stress. Did you lose all the bonus money? That’s okay. It was not the money from your pocket. Therefore there’s nothing to worry about.

You get the profit

There are other ways to trade without risks and stress, but all of them have the same thing in common -they are not profitable. It is mostly done with demo/practice account. With the forex no deposit bonuses you can trade without stress and at the same time get real profit from it.

You get to know the broker

Getting to know the broker is one of the benefits of the welcoming bonuses. Even if you devote a lot of time towards choosing the right broker, the trading experience could be completely different from the results of your research. Using no deposit forex bonuses offered by south african brokers is a good way to determine if it is a reliable broker, if conditions, support, and withdrawal terms are acceptable for you before you decide to commit to long-term trading.

You test the platform

Another thing you would like to try out beforehand while still gaining the profits is the platform that the broker is offering. Just like any other features of the broker you can see if the platform suggested by it is the one you want to trade on.

As you can see, free no deposit bonus does not come only with free money to trade with but with some other great opportunities as well.

Be careful while choosing

As I have mentioned above, there is a high chance that when you have a choice between the two brokers it is more likely that you will choose the one that offers the welcoming no deposit forex bonus. Brokers know that as well. This is why there are many scam brokers that might want to attract your attention with high bonuses. Therefore there are some necessary steps you should take before applying for no deposit bonuses. First things first, the brokerage should be reliable. It is hard to choose the good broker between so many scam or not-that-good ones and it might take a lot of time. But believe me, it is better to spend more time on research in the beginning than lose time on trying to get your money back from the scam broker afterward. It might be a nightmare! Therefore choose the best broker in south africa that offers no deposit bonus to its customers before you commit to it.

To choose the legit and good no deposit bonus you need to understand the way brokers look at it. There are not many reliable brokers that are offering such bonuses, simply because it can be not profitable for them. Usually, bonuses without deposits are offered by the brokers that have had a profitable period and can afford to give ZAR 500 or so to every eligible customer that will open an account with them. Hence, if you see the broker offering high amount bonus to the customers it might be a red flag for you. In forex trading, bigger is not always better. Hence, if you are seeing one broker offering ZAR 400 and the other ZAR 3000 it is not a good idea to rush the larger amount immediately, it can very easily turn out to be a scam! So when you find it, don’t just think you got lucky, check the broker, see its website, number of traders and check the review, then ask yourself – can this broker afford the high bonus it offers?

To find the best forex free no deposit bonus you need to dig deeper. And with it, I mean the terms and conditions. The broker is not your kind relative that will give you cash on your birthday to enjoy. The bonus money you are getting comes with certain conditions that you need to fulfill to be able to profit from it. The main requirement is the trading volume. The broker is setting a certain volume of the traders that you need to make when you are using the bonus. This rule applies to every broker, but the volumes are always different. There might be two cases

1. The broker sets a deadline and volume of the trades that it is impossible for anyone to meet if the person does not have trading superpowers. If you find that the volume is too high you need to understand that it is a trap for you to deposit more and more money additionally and in the end lose it all. Just if you will somehow be able to gain some profit, the most cases withdrawal will not be possible for you.

2. It might be the case that volume is high with good brokers as well. It will be more reasonable than with the scammer brokers, but still high. If you see that the broker has reasonable volume, but still seems high for you, it means that you still lack the experience for it.

Another thing to consider is forex no deposit bonus withdrawal rules. Getting the bonus is very easy, it must be easy to get the money from the account as well. But do not be mistaken here, you cannot withdraw the initial deposit money that was given to you. At the same time, if you make profits and withdraw the money, the initial deposit will be proportionally reduced. Therefore when I talk about no deposit bonus withdrawal, I mean the withdrawal of the profits made from it.

If you have fulfilled all of the conditions that were required it should be very easy to withdraw the profit from your account. Just like in any other case. However, things are different with scam brokers. Just imagine, you get the bonus amount on your account, you trade and do everything that is required, your trades were successful so you got some profit which you want to withdraw and strange things start to happen. You make the withdrawal request but it is unavailable, you get a response that you have violated some of the laws and cannot get the money, or they transferred the money but it is nowhere, or they simply do not let you know anything and do not answer your emails or calls. Trust me, you would love to avoid it all, therefore make sure to always read the withdrawal terms and conditions well. If it is too complicated and unreal – leave it and search for a better south african forex no deposit bonus with a better company.

How to find the best south african no deposit bonus?

Okay, now you know what no deposit is, how it works and what you need to pay attention to when choosing it. But how to find the best south african no deposit bonuses available for SA traders?

First of all, and you should have already guessed it – do thorough research and avoid any promotional campaigns. The bonuses depend on how profitable the brokers are, therefore there are certain times when no deposit forex bonuses are available. If you have already chosen one or two brokers you want to trade with, make sure to check their websites time after time. Also, it is a good idea to subscribe to their newsletter, many large brokerages have newsletters that often include promotional offerings as well. This way you will always be the one who will get the latest updates first.

South african forex no deposit bonus offers from trusted brokers

If you’re out there looking for a new forex broker to deal with, you might want to start considering working with one that offers a very beneficial bonus for trading with them. Though you might not be aware of what a forex bonus is, in which case, let us discuss the concept with you and explain why forex bonuses are some of the best and worst things south african forex broker or any other broker might offer.

The idea behind a forex no deposit bonus is simple: to attract new customers. There are many types of forex bonuses and all of them are there to attract new traders to a platform. Whether this is a welcome bonus forex broker offer or some kind of bonus received after trading a certain amount, there is no question about it, it is always there to attract a new customer. Some brokers might offer more than others and some scams might use bonus offers as a way to attract new victims, but there is always a way to find out what the intentions of the company are. I believe bonuses to be a blessing, simply because they give you more money to work with and a chance to generate more income, but I also cannot shed a feeling that they are a curse. A curse, since a bonus might make you think that it is okay to take a risk you should not be taking because the money isn’t yours, which results in more money being lost than you should have.

Though let’s get over the philosophical deliberations over what the dangers and advantages of a forex bonus are and get into the thick of it: how do you go about getting some sweet, sweet bonus money on your forex account?

What is a no deposit bonus?

First, let us explain what exactly no deposit welcome bonus is and how does it work. Unlike deposit bonuses, the no deposit bonus is usually the one that most traders are looking for in a new FX broker to work. These no deposit bonuses are welcome bonus forex brokers like to offer the least of. S outh african forex brokers with no deposit bonus will usually offer no more than 400 rand, but it will still be a significant benefit to a trader who knows what they are doing. For experienced traders, a no deposit bonus is like a free, no risk capital that can be spent on experimental currency pairs to see the results. If the capital is lost, it doesn’t mean much, but if it has returned, then the results are positive and indicate that further trading might be a good idea. The bonus can also be a nice piece of bait for the industry newcomers, who do not know which broker to start working with. While this is not a problem if you end up with a good broker, the danger of starting to trade with a scammer or a brokerage that trades against you is very real.

On the other hand, the no deposit bonus forex is also one of the best ways to start trading for a beginner trader. The cause for this is simple – new traders, with little experience, are too afraid to invest real money into forex trading. Many of them spend time working on demo accounts, trying to figure out how the market works. While a respectable endeavor, it is a limited one – a simulated market is not capable of showing the full spectrum of problems that perk up on the real market. This is why a nice no deposit bonus is a good way for a trader to move onto the market without risking their real money on the market.

How to find the best south african forex bonus

Where do you go about looking for F orex brokers with no deposit bonus offers, and how do you find them? That question is one that has bothered many before. If you are new to the industry or are simply looking for a new way to make money within it, a bonus is definitely something you might want to look into. But where?

The best forex bonus is one that is found quickly, easily applied for and easily received. To find such a bonus, all you need to do is check with a forex broker. Most international forex brokers and most south african forex brokers no deposit bonuses get updated during certain times of the year. These times are usually specific seasons when these brokers have had a certain surplus in revenue that they can reallocate towards further increasing their user base. Usually, these become welcoming bonuses for new customers and traders, encouraging them to sign up and deposit money to receive the bonus. Finding such a bonus is not that tough. All you have to do is look at the website of some of the brokers that you might be interested in. If they are offering a welcome bonus, they will usually have it promoted on their home page. If such a promotion is not present on the page, then it is probably not being offered currently.

If you can’t find a bonus with a company that you would like to work with, you might want to find and sign up for their newsletter. Brokerages usually have promotional offers for their clients, those who have signed up for their newsletters or subscribed to their social media platforms. This is where you might find nice south african forex brokers with bonus offers or some kind of alternative bonus program that might interest you.

Better safe…

Though be careful! The hard part of the process is not finding a forex bonus. Forex bonuses are usually offered in droves, and simply searching the words on google will result in a whole bunch of results on the subject. The real complicated part of the process is identifying which of these are legitimate offers and which are simple bait to attract you and then never provide you with the bonus. Whether it is a scam or an unscrupulous broker trying to attract you to trade with them, it is important to consider what kind of reputation the broker has in the south african forex broker community.

Knowing what forex bonus to pick with a south african broker

The process of choosing what bonus to pick with what broker can be a complicated one. If it is not a complicated process for you, you are not doing it right. The thing is, you have to do a lot of research before choosing to trade with a forex broker. Think of it this way, if you were making an investment into a building, that as a bonus offered you to install a pool free of charge, would you not make sure that both the house and the pool are of good quality? Would you not make sure that you are getting what you paid for?

The same goes for south african F orex brokers offering no deposit bonus . You should not invest simply because you are looking to make some free cash, but also because you believe the company to be trustworthy. All south african FX brokers offer some kind of benefit for investing with them, but not all of them offer the same kind of quality of service or reputation. A bonus and broker choice should go together and should be done with great care.

Just consider this: one forex broker is offering a no deposit bonus of 2750 rand as long as you start trading with them, while the other is offering a 350 no deposit bonus. Which company would you start trading with? If you are anything like me five years ago, you will be thinking that the first option sounds pretty good. In fact, it sounds a little too good. While the information provided is not enough to decide whether a company is trustworthy, one thing is true: if something sounds too good to be true, you need to make sure it is not a lie. In some cases, companies will make great promises, only to do their best to not deliver on them. The better the premise sounds, the more likely the broker is to not deliver on it. They might give you the promised money and you make more money off of it, but they will simply block you from withdrawing the money. Or they might make the promise of the bonus once you deposit some cash, but you end up never receiving the bonus and have a hard time withdrawing the money you deposited with them. Whatever it is you do, you need to know why you are picking whatever you are picking.

Something else you need to consider: what kind of terms and conditions they have for their bonuses. Usually, a broker, whether it is a south african FX brokerage or otherwise, will have some terms and conditions attached to the bonus. It might be a no withdrawal policy unless you deposit a certain amount, or unless you make a certain amount of money off of the bonus. It could be that you need to complete certain actions to be able to receive the money. It is important to know these, so you can intelligently apply and gain benefit from the bonus.

Finally, it is important to know the general no deposit bonus withdrawal conditions, associated fees and other possible money related conditions that a forex brokerage might have. If the brokerage has a nice bonus, but does not offer an agreeable spread system, has commissioned or has other aspects that you do not find to be agreeable to you, it is not recommended to try and get the bonus from the broker. Make sure to check if the broker is offering F orex no deposit bonus without verification, this should raise your suspicions and validate more research.

How to avoid south african scam forex brokers and scam bonuses

The way to avoiding the scams we have mentioned so many times up to this point is simple: do your research and know the signs. While this might seem like a complicated and time-consuming process, it is an important one nonetheless. Just like with any other kind of investment activity, you need to know what you are doing, and need to know that your money is safe. This is why you need to research the forex trading scams and treat all others with suspicion. If a broker has an underdeveloped and ugly website, is promising something that might seem too good to be true and has many negative broker reviews online, it might be a good idea to abstain from investing with them, as they are most likely to be either a scam or a very unscrupulous company. Here is a quick checklist of red flags to look for:

If their website is underdeveloped or badly optimized

If they are offering bonuses that seem unrealistic

If they are not licensed by any regulatory body

If they do not respond to chat, emails or calls

If they have bad reviews on official websites, as well as user reviews

Or if they have demonstrated any suspicious activity

These red flags should provide you with enough evidence to decide against investing with a company, despite the amazing bonuses they may offer. We have provided a number of reviews of good and bad forex brokerages in south africa on our page that you can take a look at. Those should be able to help you understand what the best forex broker qualities are and how to choose the best south african broker offering no deposit bonus.

Markets.Com south africa no deposit bonus

Platform

Min. Volume

Action

A few month ago markets.Com has launched its regulated company in south africa and for a limited time it is offering a no deposit bonus of ZAR250 or 25 USD to its new clients. Markets.Com no deposit bonus is limited to one household/unique IP address and cannot be given more than once to a single person. To be eligible for this bonus you should simply visit markets.Com webpage (za.Markets.Com) and sign up for a live account.

Markets.Com no deposit bonus conditions

Obviously, it is not possible to just register and withdraw money. The bonus is given to you for trading purposes, and you can only withdraw your balance once certain conditions have been satisfied. To be able to withdraw, a trader has to fulfill a trading volume of 10,000 ZAR for any 1 ZAR of the bonus.

Let’s illustrate how markets.Com no deposit bonus conditions work with an example.

Imagine you sign up for a bonus and get ZAR250.

It means that you have to complete 250×10,000 of the trading volume. Hence 2,500,000 ZAR have to be traded before you can withdraw.

Knowing that 2,500,000 ZAR is somewhere around 200,000 USD, we can see that a trading volume is somewhere around 2 standard MT4 lots.

Compared to the bonuses we reviewed before, it is clear that M arkets.Com deposit bonus of ZAR250 is actually quite a good deal.

Important! Markets.Com will conduct a KYC procedure once you request a withdrawal. This means that you will have to provide your proof of ID and residence (no older than 6 months) before you can get the bonus. Hence, you should always remember to provide correct details when registering.

How to get markets.Com free ZAR250?

It is fairly simple. Just click on the button below, sign up with za.Markets.Com (note: markets.Com bonus is only given to the citizens of south africa) using your email, google account, or facebook, and start trading.

Competition with higher bonus offers

This deal did not go unnoticed by S outh african forex brokers with bonus offers of their own , and they have put up their own deals offering higher no deposit bonuses. You can check one such offer given by XM by clicking here on by following the link below.

Looking for a better bonus?

Forex trading bonus together with XM offers you FREE ZAR449 instead of ZAR250!

FOREX NO DEPOSIT BONUS

A forex no deposit bonus is “free money” that brokers offer new traders to encourage them to start trading forex on a live account. It’s given solely to new traders as a ‘welcome bonus’.

A no deposit bonus is regarded as a powerful leverage available to new traders and allows them to start trading forex almost instantly without an initial investment. It does come with rules and restrictions and new traders qualify for the bonus based on certain criteria.

Forex no deposit bonus is common practice in south africa, malaysia and indonesia but isn’t available to residents in the eurozone and united states. It incentivises new traders to switch over to a real forex live account from a demo account without massive financial risk.

This type of forex trading promotion is available to new traders who meet certain requirements to open a real forex account and the free money can only be used under certain trading conditions, as specified by the broker. Forex traders cannot withdraw the free bonus money that’s put into their account by the broker.

10 best forex no deposit bonuses in south africa ( updated 2021 )

What does a no deposit bonus entail?

The forex no deposit bonus means a new trader does not need to make a deposit to activate a real live account and in effect, gets ‘free money’ to begin trading. The bonus amount is usually small, ranging from $10 to $50.

The ‘welcome bonus’ encourages new traders to open a live account with a broker and place more trades in a short period of time, while limiting their risk of losing their own money at the start.

After providing your name and email address to a broker, a real live trading account is opened. Some brokers require documents such as utility bills, ID or proof of residence to verify a live account. Some open an account with a no deposit bonus without verification.

Thereafter, ‘free money’ in the form of a no deposit bonus is deposited into the account. How much you receive depends on the broker’s promotional offering. It can be as high as $50.

Who qualifies for a no deposit bonus?

The no deposit bonus is only offered to first-time forex traders who sign up and register an account with a broker who offers the promotion. If you’ve been given a no deposit bonus before by a broker, you are not entitled to it again.

Trading with a no deposit bonus

Once the deposit is in your account, you can start trading live and in real time on the forex market. Continuing on from trading through a demo account, a new trader can experience real live trading without risk until the bonus period ends. Mistakes made don’t cost the new trader money out of his or her pocket but it is a loss to the broker.

Why do brokers offer a no deposit bonus? Well, it’s part of a broker’s long-term relationship to build a client’s confidence and experience live trading on multiple financial instruments while minimising risk in the early days of trading. New traders are more inclined to trade more often with ‘free money’ and gain invaluable experience before making a deposit with their own money.

Why do brokers offer a no deposit bonus?

A no deposit bonus is also known as a ‘welcome bonus’ and is a popular method used by brokers to attract beginner traders and encourage them to trade multiple financial instruments using a real live account.

Most new traders begin their forex trading journey using a demo account. A no deposit bonus is the perfect incentive for beginners who want to practice trading forex with a real live account but are wary of using their own money.

New traders get the opportunity to actively engage in the forex market for a period of time and keep any profits made at the end. The no deposit bonus expires after 30 or 60 days, depending on the broker’s bonus conditions. This puts new traders under pressure to make full use of the ‘welcome bonus’ before it ceases to exist.

Restrictions on forex trading with a no deposit bonus

Having given you ‘free money’, the brokers are entitled to apply certain restrictions on trading with live account. They’re no onerous restrictions and are designed as much to protect you as themselves.

Brokers offering no deposit bonuses to first-time traders restrict their clients from opening orders with a large lot size. Typically, the maximum limit for a lot size is 0.01 lot.

The downside of a limit on the size of a lot is it makes it harder to make a profit.

Maximum active positions

Certain brokers who offer no deposit bonuses set a limit on the number of active positions that a new trader is allowed to open. This may include pending orders.

This limit does affect a trader’s trading strategy and can somewhat spoil the trading experience when a new trader cannot open more positions, particularly if he or she is using the trend-following method.

Limit on assets traded

Certain brokers who offer no deposit bonuses specify which trading currencies may be traded, particularly in a volatile market situation. Typically, new traders are restricted to the mainstream trading pairs and can’t trade on exotic pairs.

Time limit on no deposit bonus

A no deposit bonus usually has a time limit and will expire after a certain period of time. It’s important to find out what this time limit is because you need to get in as much trading time as possible with the ‘free money’ before you need to commit your own money.

Typically, the time limit on a no deposit bonus is between 30 to 60 days. The longer, the better so shop around for a broker who offers a ‘welcome bonus’ for a 60-day period. This gives you ample time to practices forex trading on a real live account.

Hedging is not allowed

As a general rule, hedging is not allowed when trading on an account with a no deposit bonus. Hedging involves having two trades open at the same time but in different directions.

Hedging is used in certain trading strategies and generally provides short-term relief for forex traders. Hedging helps to temporarily eliminate or minimise risk in the forex market.

Scalping is not allowed

As a general rule, scalping is not allowed when trading on an account with a no deposit bonus. Scalping is a popular trading strategy that allows traders to potentially earn small amounts of profit many times a day. The profit is usually between 5 to 10 pips.

Scalpers hold an open position for a very short time which is a good strategy to use in volatile market conditions. Many small pips can add up to a comfortable profit. The reason why brokers do not encourage scalping on a no deposit bonus account is because it can very quickly deplete the funds in the account.

Leverage is limited

Leverage is usually limited on an real live account with a no deposit bonus. Leverage is where a small amount of money is borrowed from the broker to trade a larger forex position. Leverage is key to trading forex.

When leverage is limited, it means a new trader cannot open a large position. It lowers the trading volume and increases the amount of trades a new forex broker must make to realise a decent profit, if only using the no deposit bonus amount in the account.

Expert advisors are not allowed

Expert advisors (eas) may not be used on a real live account that’s been set up with a no deposit bonus. Eas can be likened to robot trading, where forex trading is automated.

Eas are very useful for beginner forex traders because they simplify the trading process, which includes opening and closing a trade and analysing forex market conditions using indicators.

What happens to profits made trading with a no deposit bonus?

One would think that the brokers would take any profits made on a new account with a no deposit bonus, but here’s the good news; you pocket any profit made. Further proof that brokers are committed to supporting new traders on their forex trading journey as they switch from a demo account to a live account.

You are welcome to withdraw the profit you make but the idea is to reinvest it back into your account and continue trading. You’ll have had enough time to decide if you have an appetite for the risk involved in forex trading and can either continue to trade or you can withdraw the money and call it quits.

As a note of warning, some new forex traders find it difficult to withdraw profits from an account set up with a no deposit bonus. You may be asked to deposit a certain amount of money into the account before you can withdraw profits. The reason for this is simple; brokers want to encourage you to continue trading, not to give up and cash out.

Top 10 forex brokers in south africa : who offers a no deposit bonus

Get a free $10 (1000¢) bonus without making a deposit

Disclaimer

Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. Forex trading involves a high degree of leverage which increases the risk associated with forex trading.

�� forex no-deposit bonuses 2021

nodeposit bonus	bonus	valid till
7bforex \| no-deposit bonus	$25	dec/31/2021
AGEA \| $5 no-deposit bonus	$5	dec/31/2021
almahfaza \| phone verification bonus (in arabian)	$50	dec/31/2021
arum trade \| “first investment” no-deposit bonus	$30	dec/31/2021
atlasforex \| $50 USD no-deposit bonus (in japanese)	$50	jan/31/2021
bityard \| beginner rewards	4 USDT	dec/31/2021
bullseye markets \| $25 USD no-deposit bonus	$25	dec/31/2021
bybit \| $10 registration bonus	$10	dec/31/2021
bybit \| social media bonus	$5	dec/31/2021
bybit \| survey bonus	$5	dec/31/2021
cfmerchants \| $50 welcome no deposit bonus	$50	dec/31/2021
corsa capital \| $100 no-deposit fixed welcome bonus	$100	dec/31/2021
cube global \| $20 no-deposit bonus	$20	dec/31/2021
CWG \| hi account! $50 USD no-deposit bonus	$50	dec/31/2021
elite fin FX \| free $20 no-deposit bonus	$20	dec/31/2021
emporio trading \| $30 USD no-deposit bonus	$30	dec/31/2021
FBS \| level up bonus FREE $140	$140	dec/31/2021
FBS \| no-deposit "trade 100 bonus"	$100	dec/31/2021
FBS \| quick start $100 no-deposit bonus	$100	dec/31/2021
forex.Ee \| 15 USD welcome no deposit bonus	$15	dec/31/2021
forexchief \| no deposit bonus $50 (in indonesian)	$50	dec/31/2021
fortfs \| $35 USD no-deposit welcome bonus	$35	dec/31/2021
freshcent \| 300 cent bonus "start working with a gift!"	$3	jan/31/2021
freshforex \| no deposit bonus $2021	$2020	feb/28/2021
FX TRB \| $50 no deposit welcome bonus (in thai)	$50	dec/31/2021
fxcess \| $10 no-deposit email verification bonus	$10	dec/31/2021
fxcess \| $15 no-deposit phone verification bonus	$15	dec/31/2021
fxgiants \| email verification bonus	$30	dec/31/2021
fxgiants \| phone verification bonus	$15	dec/31/2021
fxopen \| $1 no deposit bonus for micro accounts	$1	dec/31/2021
fxopen \| $10 no-deposit bonus	$10	dec/31/2021
fxoptexgroups \| $30 USD free account	$30	dec/31/2021
fxplayer \| $100 no-deposit bonus	$100	dec/31/2021
fxprivate \| $10 "only for friends" no-deposit bonus	$10	dec/31/2021
fxprocent \| $300 cents no deposit bonus	$3	dec/31/2021
FXQM \| $30 USD welcome bonus	$30	dec/31/2021
gannmarkets \| $30 welcome bonus	$30	dec/31/2021
GEMFOREX \| 30,000 JPY no-deposit bonus (in japanese)	30,000 JPY	jan/05/2021
GICM \| $25 no deposit bonus	$10	dec/31/2021
GOFX \| $30 free trading bonus (in thai)	$30	dec/31/2021
heart forex \| $100 welcome bonus	$100	dec/31/2021
hexta prime \| $30 USD no-deposit bonus	$30	dec/31/2021
instaforex \| $3,500 startup no-deposit bonus	$3500	dec/31/2021
IUX market \| account open bonus $30	$30	dec/31/2021
kaje forex \| $50 USD welcome no-deposit bonus	$50	dec/31/2021
mitrade \| 50 USD trial bonus	$50	dec/31/2021
noble sky \| USD 500 reward for login	$500	dec/31/2021
noble sky \| welcome new year gift of USD 1000	$1000	mar/05/2021
PPM PRIME \| $40 free to trade no deposit bonus	$40	dec/31/2021
PROFITTO \| $30 no-deposit bonus	$30	jan/29/2021
redstonefx \| $88 no-deposit bonus	$88	dec/31/2021
roboforex \| $30 welcome bonus	$30	dec/31/2021
seven capitals \| new year´s exclusive real $100 account	$100	jan/31/2021
SFEX \| $50 no-deposit welcome bonus	$50	dec/31/2021
sinosoft FX \| trade free with $20 no-deposit bonus	$20	dec/31/2021
superforex \| $50 no-deposit bonus	$50	dec/31/2021
templerfx \| no deposit bonus 30$	$30	dec/31/2021
tiomarkets \| $25 USD no-deposit bonus	$25	mar/31/2021
tradeland \| $50 welcome no-deposit bonus	$50	dec/31/2021
traders trust \| $100 USD no-deposit bonus	$100	dec/31/2021
unicorn brokers \| $50 free bonus for afghanian customers	$50	dec/31/2021
upforex \| $100 no-deposit welcome bonus	$100	dec/31/2021
velocity trades \| $25 no deposit bonus	$25	dec/31/2021
windsor brokers \| free account $30	$30	dec/31/2021
world forex \| $10 or $20 USD bonus	$20	dec/31/2021
world trade investment \| $50 no-deposit bonus	$50	dec/31/2021
XM group \| $30 no-deposit bonus	$30	dec/31/2021
xtreamforex \| $25 no deposit bonus	$25	dec/31/2021

Latest promotions:

Extra promotions:

Trader

Global crypto trading exchange
A safe, secure, regulated and complete cryptocurrency exchange

Subscribe for your 1000 FREE tokens ($100 value)

Bestforexbonus

FXTRB doesn't seem to have an english website version, or promotion tos for u to translate it.
Regretfully we're unable to find out about exact terms and conditions for this bonus.

Trader

FXTRB - $50 no deposit bonus

New clients only thailand ;
https://fxtrb.Com/promotions-2/

Trader

SFEX - $50 welcome no deposit bonus

When register using a partner’s link ;
https://www.Sfexvip.Com/activity/partner/language/en-us

Trader

Topfx - $50 no deposit bonus scheme

Trader

40 usd no deposit bonus ! Https://panel.Coinofa.Com/

Trader

Atlasforex - $50 no deposit bonus

Trader

Looking for powefull platform and leveraged crypto trading ? Https://www.Binance.Com/en/register?Ref=*****
use this refferal link, and get 10% kick back.

Trader

Hello everyone , I try this company bonus and make many withdrawal from it trader

Profitto ltd - $30 USD no deposit bonus

Malaysia and indonesia only ;
bonus end date/time 29th january 2021 11:59:59 GMT +8 ;
https://www.Profittoltd.Com/no-deposit-bonus/

Trader

GEMFOREX - 30,000 JPY no deposit bonus

Trader

Templerfx - no deposit bonus 30$!

Trader

Xm babbling broker. Big scammer rejected my withdrawal 27.90$

Trader

Cooin.Io - $20 crypto no deposit bonus

Trader

Ronex - $20 crypto no deposit bonus

Trader

Gannmarkets - welcome bonus 30 USD

Trader

Https://lirunex.Com/promotion/#iphone

Trader

Milton markets - welcome bonus $50

Withdrawal conditions: 10lots of transactions completed after deposit ;
https://miltonmarkets.Com/promotion/

Trader

Instaforex - $2000 startup no-deposit bonus

Trader

Freshforex - 300 USC no deposit bonus

The promotion is valid from december 11, 2020 to january 31, 2021 ;
https://freshforex.Com/company/news/news_35202.Html

Trader

Xtreamforex | $25 no deposit bonus

Getting ready to start your trading without committing an investment. No deposit bonus for newbies to try out services to start earning profit without risking any of their funds.

Bonus available for philippines clients:- no deposit bonus of amount $25 is available for philippines clients with live trading account with verified status. No need to deposit to claim the bonus.

Easy to claim:- register the live account, verify the trading account. Get the bonus by registering the live trading account.

Start your trading:- after getting the bonus you will able to start your trading to earn more profits with zero investment.

Start date to registration:- no deposit bonus account will start on 7th december 2020 for a limited time.

Maximum leverage is 1:400.

Trading account credited with $25 no deposit bonus is not eligible for commissions and ibrebates.

Top 10 best forex brokers in south africa for 2021

Top rated:

If you are a forex trader in south africa looking for a broker, we are here to help.

Finding the best forex broker in south africa can seem like a difficult task sometimes. That is why we have collected as much information as possible to help you along the way.

As a forex trader in south africa, you will find information here on some of the top forex brokers, as well as the best forex trading platforms available and much more about the top-tier FSCA regulation provided by many brokers.

Is forex trading legal in south africa?

This is a very common question that comes from forex traders in south africa and around the world. In regard to the legality of south african forex trading. The answer, in short, is yes.

Forex trading is completely legal in south africa.

In fact, forex trading in the country is well regulated by the FSCA (formerly FSB). Through their experience and good practice in the industry, they have risen to become one of the most respected regulatory bodies in the forex market.

Beyond that, the FSCA regulation provides such a trusted experience that many non-south african traders from around the world also seek out top forex brokers regulated by the FSCA.

This is possible in just the same way it is also possible for south african forex traders to choose forex brokers who are regulated outside the country by other bodies.

How to trade forex in south africa

The process of forex trading and starting your account with a south african forex broker is not unlike that you may find in another country.

The basic steps you should follow are to choose your broker (we have listed many of the top south african forex brokers below), provide the documents required by the broker to prove your identity and residence, and finally fund your account.

If you are depositing more than 1 million ZAR ($65,000 approx) you may need a tax clearance certificate (TCC) since most of the top brokers keep their accounts outside south africa, you would actually be sending money to another country to fund your account. This is not too difficult but does require a tax clearance if you are depositing more than that amount of money.

If the amount is smaller, then the process of funding is much easier through the single discretionary allowance (SDA). This allows you to move as much as 1 million ZAR per year abroad without the need for the same documentation. You can find more information on these regulations here.

It is worth noting that these processes are not needed if your broker has a deposit account within south africa.

Top 10 best forex brokers in south africa

Getting into our listing of the best forex brokers in south africa for you, the first 6 brokers we have listed for your convenience are FSCA regulated brokers, while the brokers numbered 7 to 10 are top international forex brokers who accept south african traders.

No deposit forex bonuses

Last updated: january 4th 2019

In below table you can find the best NO DEPOSIT forex bonuses in year 2019:

Broker's name	get the BONUS!	Bonus
		*$30 FREE no deposit required** * not for EU citizens ** T&C's are valid.
	100% welcome bonus * not for EU citizens ** T&C's are valid.

ATTENTION: these bonus promotions are mostly time-limited! Therefore we strongly advise you to grab them as soon as you can!

“we update this table regularly to always keep it updated so you can check back later!”

There are different types of forex bonuses for traders:

#1 – no deposit bonuses

Mostly offered as an incentive for new clients to get them onboard without the need to invest a single dollar. While clients can invest this bonus amount, it is unwithdrawable in most cases! Meaning, the profit you make using this money is all yours and you can of course cash it out, but excluding the amount they gave you for free. The prerequisite to get this credited to your trading account is usually an SMS or a phone call verification of your account. Brokers do this to ensure you are real person not a bonus abuser.

An overview of currently available best no deposit bonuses:

#2 – welcome bonuses

Welcome bonus is like free money (if you are smart forex trader you will use it) and it’ll be credited to your forex trading account, usually as percentage on the top of your first deposit.

For example, your first deposit initial investment of $500, and welcome bonus will be 60%. In such a case you will be credited with additional amount of $300 at the top of your initial deposit of $500 as a gift. You total balance would be $500+$300=$800

Be careful, because bonuses can NOT be withdrawn in most cases, you can only use them for trading! Example: you have in your balance $800 ($300 out of that is signup bonus from broker) and you make profit of $5760. Then you can withdraw max. $5760 -$300 bonus =$5460.

#3 – bonuses for existing traders

Even if you’ve been with a forex broker for many months or even years, you can stumble upon a good deal that is targeting old clients and improving a customer loyalty. In case you are a valuable client and you meet special requirements, from time to time (usually once or twice a year) you might be contacted by your account manager and obtain FREE money as a thank you for you loyalty. However let me tell you that this depends purely case by case, not all brokers are equally handling their existing client base.

#4 – forex trading contests

Are you a master forex trader ? Do you want to prove your trading superiority, test your top money making strategies ? Demonstrate your trading skills to the world and win a nice lump sum of money. Then it is time to join a forex trading competition ! Not only you will sharpen your skills, let me tell you that the prize you can win is usually around $100.000 and sometimes even as high as $1.000.000 in worldwide competitions.

Many brokers let you win a sports car or an exotic vacation.

DEMO TRADING CONTESTS – a perfect fit for all beginners who want to learn strategies and psychology stress free (you play with virtual money only)

LIVE TRADING CONTESTS – the battle takes place under real market conditions and naturally you trade with your real money. Unlike demo contests, with live trading competition there is a far more thrill and emotions (almost like when playing in a casino) because you risk your own money and only the smartest traders will win!

There are no open forex trading competitions at the moment. Please bookmark this page as we update it often.

#5 – refer a friend program

Would you join a broker if your close friend would recommend you a company he is trading with and is happy? Today in the age of social media, there is nothing more powerful than direct recommendation. And brokers of course know this, therefore they give you a small amount of money if you refer you friend who will join and start trading too. Almost each company has this program so just ask your account manager!

Forex bonus abuse

Please under no circumstances dont fall for bonus abuse as it might be tempting to do. All bonus promotions are closely monitored by brokers and if they find out any signs of abuse, they will ban your trading account right away.

Forex brokers

HYCM review – deposit, withdrawal & trading conditions

Read on to find out if you should be trading with HYCM markets.

REAL liquidity VS B-book ! How forex brokers make money

The difference between trading on real market liquidity at an A-book broker vs B-book brokers who profit from client losses

Fair trading with global prime

A top notch broker with fantastic support and an active discord community

I’m now officially a NAGA partner

And I created this post to show you how I create content

Is NAGA about to launch in south africa

I read an article suggesting this german based broker is applying for an FSCA license.

M4markets – the offshore regulated broker

M4markets is a regulated CFD broker offering clients the
opportunity to trade on the worlds key global market.

Valatech: setup your own brokerage seamlessly & cost effectively

Trailblazing solutions, quick deployment, trouble-free integration and full control as the brokerage owner.

My live trading account on rmdtrader is now following the bot

Watch as I login to my account and show the initial results of a trading bot trading on my live account

The FSCA provisionally suspends jpmarket’s license

The FSCA suggests that jpmarket’s withdrawal problems has led to a provisional suspension of their license.

Become an FXPRIMUS AFFILIATE today

Take advantage of a high compensation plan, a world-class suite of marketing resources, instant payments, and insightful reporting.

Open A 2nd real trading account

Follow these steps to open a quicktrade live account.

Learn how to build A network business in online trading with quicktrade

This south african regulated broker with a unique three-tier affiliate program is perfect for building a network style business.

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. By continuing to use the site either by scrolling or navigating to another page, you agree to the use of cookies. More information accept

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings, by scrolling or navigating to another page, or you click "accept" below then you are consenting to using cookies on this site.

So, let's see, what we have: see our list of trusted forex brokers with no deposit bonus available for traders in south africa. We have compared the bonus terms, withdrawal conditions. At south african forex brokers with no deposit bonus