A vigorous competition for new clients among Forex brokers has created a new trend - No-deposit Forex bonuses, which is certainly going to benefit many novice investors.
A so called "No-Deposit Bonus" is a totally free, broker sponsored funding of trader's new live Forex account.
All you have to do is fill in an application for opening a live trading account with a broker, and your new Forex account will be credited with real USD - the bonus money to start trading in the real market immediately. No deposit is required on your side!
How cool is that?! It is, in fact, a real value deal:
- you get to try out broker's platform
- you get to test your trading skills & get some experience
- you can make money on top or, if it goes wrong - lose nothing
However, there are also few other facts to know about No Deposit Bonuses:
- while the profits you make in trading are withdrawable, the bonus money itself, as a rule, can't be withdrawn without meeting certain conditions (trading volume, further account funding etc.).
- No deposit bonuses are known to be quite small, around $25-50, which is good for a micro account. Traders should understand that their trading experience on a micro level might significantly differ from trading with a larger portfolio due to higher financial risks involved. Proper money management of each: micro, mini and standard accounts require additional experience.
- In order to start trading with free bonus money you're asked to deposit own money;