Top 10 No Deposit Bonus Forex in 2024: A Complete Guide

Introduction

The Global Trading market encompasses various offers to attract new traders and beginners without trading experience. The forex market is one such platform, which has gained popularity over recent years with offers like No Deposit Bonus, and Welcome Bonus that forex brokers present for new traders without using their real money. The no deposit bonus forex provide optimal trading conditions according to the preference; for example, offering bonuses for elite traders and beginners. When trading happens on real money, they also help choose the right forex broker to trust and pump up the deposits. However, one has to be careful as there is considerable risk involved.

Brand	Overall Rating	Min. Initial Deposit	Visit Site
	9.5/10	$5	Visit Website
	9.5/10	$5	Visit Website
	9.4/10	$100	Visit Website
	9.3/10	$100	Visit Website

To summarize, forex brokers offer a welcome bonus for beginners who do not have a trading account. They offer a matched deposit bonus, which means there is a free bonus provided after the initial deposit, or they offer no deposit bonus.

Key Takeaways

• Top 10 prominent forex brokers focusing on no deposit bonuses.
• Delve into key features to identify platforms offering demo accounts.
• Which brokers have intrusive platforms and offer extensive educational resources.
• Gain insight to decide which is best fit for you.
• Essential things to consider while selecting no deposit bonus Forex 2024.

Best No Deposit Bonus Forex in 2024

List of 10 Best No Deposit Bonus Brokers

Looking for the best platforms to start trading without jeopardizing any risk, you stopped at the right place. Here, we have compiled the top 10 No Deposit Bonus Brokers, offering reliable platforms with good features. So, without further ado, let’s delve into the list of reputable brokers with no deposit bonus.

1. PaxForex – Recommended for US Traders – 100% Bonus

PaxForex is a famous online forex platform and the most reliable trading institution in the USA. It has a reasonable loyalty deposit bonus program too, where they match the member’s deposits 100% – for a minimum trade of $1,200 and more.

Why We Choose It?

The main compelling reason for choosing PaxForex is that it is equipped with trading tools, including copy trading. Free training for beginners and demo accounts are other reasons to stop by. The no deposit bonus forex feature gives traders a kickstart, making it the best broker.

Key Features

• The broker’s most alluring feature is that it offers 60 currency pairs with minimum spreads as low as 0.4 pip.
• Users can avail 4 major crypto assets.
• The broker also offers round-the-clock support. Traders can resolve their queries anytime by leveraging 24/5 multilingual customer support via live chat, telephone, and email.
• Seamless mobile app access makes trading a breeze. By downloading the app on any phone, traders can conveniently start trading from anywhere, anytime.
• The other key feature is that at Paxforex, you can use several deposit and withdrawal modes, including bank transfer, card payments, e-wallets, and cryptocurrencies.
• Demo accounts are also available to offer traders a no-risk environment.

Pros

• Integrated with best trading tools.
• Cent accounts available.
• 100% loyalty deposit bonus.
• 24×7 multilingual customer assistance.
• Free training available for beginners.
• MT4 MultiTerminal.

Cons

• $2000 deposit is required for entry.
• Facing legal action from the CFTC.

2. AvaTrade | 2 x $200 Forex Welcome Bonuses

AvaTrade, headquartered in Dublin, Ireland, is famous as an international CFD broker. Founded in 2006, the company is governed in a number of significant financial jurisdictions across the globe, including Europe, Australia, South Africa, etc. The traders developed a user-friendly platform with competitive spreads for traders’ convenience. To go deeper into its platform and key features, you may read our AvaTrade review. Now, talk about the main highlight of this no deposit bonus broker: The AvaProtect tool – the company has developed this versatile tool to facilitate full position hedging. AvaTrade provides over 50 major, minor, and exotic currency pairs for forex trading. This covers various crossings and well-known pairs like EUR/USD, GBP/USD, and USD/JPY. AvaTrade fulfills all the requirements for a reliable online broker for experienced and novice traders.

Why We Choose It?

Many firms outside do not offer Demo Accounts, and this is our most prevalent reason for choosing AvaTrade. The demo account has limited access to 20 days. However, you can extend it by contacting its responsive customer team. Just make a call to extend your risk-free trading limit for a few more days until you gain enough confidence and expertise to start trading with real money. Tight spreads, competitive pricing, and a large selection of tradable assets are reasons why you should visit this broker.

Key Features

• AvaTrade offers a good selection of trading platforms and tools, comprehensive protection, and reasonable costs.
• The business offers cutting-edge risk reduction and insurance products, such as AvaProtect. It allows traders to insure a particular deal for up to $1 million at purchase against a hedging expense.
• When it comes to security, AvaTrade is unmatched. It runs seven entities, three of which are authorized by Tier-1 regulators.
• The web-based trading platform provided by AvaTrade can be used with third-party programs such as MetaTrader 4 and MetaTrader 5.
• Furthermore, the broker offers user-friendly mobile apps for iOS and Android smartphones.
• There is a great educational component on AvaTrade, with numerous mini-tutorials covering the basics of trading. AvaTrade additionally makes instructional video content.

Pros

• Regulated by Multiple Regulatory Bodies.
• Smooth and fully digital Account opening Process.
• CFDs and Vanilla options trading.
• Impressive economic calendar.
• Multilingual customer support.
• Demo account is available.
• Reasonable costs.

Cons

• High inactivity costs.
• Doesn’t accept US traders.
• High minimum deposit threshold.

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3. Plus500 | Offers First Deposit Bonus

Plus500 is another major platform that is targeting the first deposit bonus space. Once traders open an account and select a deposit method, they can choose the bonus as mentioned on the platform; please note that the bonuses are offered only under Plus500SG and Plus500SEY. The platform is one of the most reputed Forex CFD brokers in the online trading space. Its predecessor is listed on the London Stock Exchange, and Plus500 Ltd holds multiple licenses.

As Plus500 only offers a first deposit bonus, understanding the differences between Plus500SEY and Plus500SG is crucial. While both platforms are operated by Plus500, they cater to distinct regions and may have varying policies regarding first deposit bonuses. So Plus500SEY targets traders in the Seychelles (SEY), & Plus500SG Targets traders in Singapore (SG). The bonus range offered by Seychelles would be $80-$1000, and the bonus range for Singapore would be S$70-S$13,000. Before going ahead, you should make sure to check the terms and conditions offered by each of them.

Note: This information is NOT relevant to EU residents who are to be serviced by EU subsidiaries of the Plus500 Group, such as Plus500CY Ltd, authorized by CySEC (Reg. 250/14). Different regulatory requirements apply in Europe, such as leverage limitations and bonus restrictions.

Read more about the Plus500 review; we have covered all the information about the platform.

Why We Choose It?

A reputable broker, Plus500 is becoming more well-known for its forex no deposit bonus, 2800+ traded assets, a wide selection of tradable CFD instruments, limitless demo accounts, and other offerings. We were compelled to appreciate this platform because of all these traders’ positive attributes. It is a promising option for traders seeking a vibrant and easy-to-use platform. With various account kinds and tools, it serves novice and seasoned traders.

Key Features

• Plus500 is located in more than 50 countries, including the US, Australia, the UK, and several European countries.
• The Plus500 platform is accessible in over thirty languages.
• The Plus500 features an unlimited demo account. You may practice trading with $50,000 or £40,000, and it’s free to use.
• Authorities such as the Monetary Authority of Singapore and the Financial Conduct Authority of the United Kingdom oversee the corporation.
• There are no additional costs associated with depositing money using a variety of channels, including bank transfers, credit or debit cards, and e-wallets like PayPal and Skrill.
• Plus500 demonstrates good transparency in its regulatory status, charges, and overall background information.

Pros

• Interactive web and mobile platform.
• Speedy and reliable order execution.
• Exceptional analytical tools.
• Leverage of up to 1:300.
• Wide Range of Tradable CFD Instruments.
• Responsive customer support.
• Unlimited demo account.

Cons

• Limited educational content variety.
• High leverage poses risks.
• Lacks stocks or mutual funds.

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4. Markets.com | £25 Forex No Deposit Bonus

Markets.com is a major platform across the UK forex space. As there are dozens of currency pairs split across the majors, minors, and exotics, its trading arena comes with different offers. Here, traders get a £25 no deposit bonus for opening a new account at the Markets.com platform. This bonus is for new customers only, and there is no time limit as that is laid out. Although, you can check Markets.com reviews, to know all its services and bonus offers in one place.

Why We Choose It?

While searching for reliable and best no deposit bonus brokers, we stop by Markets.com. What appeals to us here is the many account options and features. This broker offers a wide range of tradable instruments, primarily commodities and indices. The broker’s spread-based accounts are a crucial feature, and they come with various benefits that scale according to the client’s deposit level. Markets.com is suitable for both novice and professional traders.

Key Features

• This multi-asset online CFD broker offers access to a wide range of assets, including FX pairings, commodities, indices, cryptocurrencies, stocks, ETFs, and bonds.
• The platform is regulated by five financial countries, two of which are tier-1.
• The commission-free Forex trading fees start at 0.6 pip, or $6.00, for a single standard lot.
• Opening an account on the platform is quick and easy.
• Markets.com provides excellent interactive charts, trading suggestions, and other research tools.
• Markets.com has received multiple international accolades for the caliber of its offerings.

Pros

• Govern by five regulators, including ASIC, CySEC.
• Over 2200 asset kinds are accessible to trade.
• Competitive spreads and commission-free trading.
• Outstanding investigation and instructional resources.
• Low inactivity fee.
• Excellent customer service.

Cons

• High forex fees.
• Slow processing time.
• Basic proprietary trading platform.

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5. FBS | Best Forex No Deposit Bonus – $50 Bonus

Most forex brokers provide cash-based bonus programs. However, FBS offers a complete Trade 50 Bonus package. Featuring a free no deposit forex of $50 to trade in a verified account, a set of guidelines to be followed, and strategies for making the most of the free bonus. Nonetheless, there are certain restrictions for claiming this bonus as well as the profits earned from the trading. For example, FBS allows only a maximum of 5 trade positions at a given time. And to withdraw any profits, traders must complete the 30 trading days and trade at least 5 lots.

Why We Choose It?

Trading is difficult for beginners to master, requiring time and adequate resources, and this broker understands this well. That is why it provides comprehensive educational tools, extremely beneficial to novice traders looking to learn the foundations of trading. Another significant feature of the organization is its average execution speeds of less than 40 milliseconds, ranking it among the best forex brokers with a welcome bonus for rapid and precise trading.

Key Features

• FBS has great trading options, including forex, commodities, stocks, and cryptocurrencies.
• The broker provides tight spreads from 0 pips, minimizing trading costs for investors.
• Traders can leverage their positions up to 1:3000, allowing for potentially higher returns on investment.
• It has a minimum deposit requirement of just $1.
• Another appealing feature of the platform is its fast execution speeds, which ensure swift order processing and enhance trading efficiency.
• FBS provides negative balance protection, safeguarding traders from losses exceeding their account balance.
• The platform also offers 24/5 multi-lingual support.

Pros

• Licensed in multiple jurisdictions.
• Commission-free trading.
• Well-known for offering fast and precise trading.
• Offers comprehensive educational resources.
• Provide various bonuses.
• Ideal for beginner traders and traders with high-frequency strategies.

Cons

• • Limited range of instruments.

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6. XM | Multiple Forex Options Offered

XM has a variety of forex offers for beginners who do not have an account. They offer the option of claiming a $30 no deposit bonus. And to claim a more substantial bonus, they can choose the XM Broker offer with a 50% matched deposit bonus up to $1,000. This gives a 20% bonus for everything above $1,000 – up to a maximum of $4,500. And, you can also read more about the XM reviews to know further about the platform.

Why We Choose It?

Due to its robust regulatory environment, we included XM in our top 10 ranking. Its image as a trustworthy and secure broker is largely because it offers fraud prevention measures and strongly emphasizes risk management. Additionally, this reliable no deposit bonus forex broker assists traders in learning while they trade. It offers basic educational resources on its platform and hosts webinars regularly in 120 cities across the globe.

Key Features

• XM has licenses to operate from several places that attest to its adherence to strict regulations.
• Every account subscriber is eligible to participate in XM’s frequent contests, which offer substantial cash rewards.
• XM offers resources and educational materials to assist traders in comprehending and reducing the risks involved in trading.
• Another appealing platform aspect is a loyalty program that gives cashback and bonus points based on a client’s trading volume.
• The broker provides competitive spreads and commissions for all its different account types.
• XM Group maintains an open and honest fee schedule, with fees mostly derived from spreads and overnight financing charges (swap rates).

Pros

• Regulated by top-tier financial regulators like FCA, ASIC, etc.
• Earned over 40 international awards.
• Negative balance protection.
• XM app offers convenient and efficient trading.
• Multilingual customer support.
• Excellent trading platform with top-tier liquidity providers.

Cons

• Inactivity fees.
• Leverage Risk.

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7. CMC Markets | 2 x $250 Forex Welcome Bonuses

The CMC Markets, a UK broker, has an appealing offer for traders, which is a $250 welcome bonus that can be availed twice. Traders need to deposit their first $1000 within 30 days, which is matched with an additional upto $250 by the broker, making the starting balance up to $1250. However, traders need to trade $1 million worth of forex to withdraw the bonus funds. Once they hit $2 million worth of trades, CMC Markets broker will give an additional $200.

Why We Choose It?

CMC markets are among the top trading platforms for frequent and active traders. Based on top-notch technology, this platform is a great option for traders who like to trade on narrow spreads. Both desktop and mobile users will find the platform intuitive and simple.

Key Features

• CMC Markets is permitted to provide financial services in the UK and is governed by the FCA under the name “CMC Markets UK Plc”.
• Both deposits and withdrawals are completely free, with no upper limit.
• There is fierce competition in spreads, and CMC Markets leads the sector in keeping fees for active traders low.
• Regarding things like their fees, background information, and regulatory status, CMC Markets demonstrate a respectable degree of transparency.
• In the areas of research, tradable instruments, and trust, CMC Markets performed exceptionally well.

Pros

• Extensive range of trade offerings.
• Full-featured platform.
• No minimum deposit threshold.
• Highly competitive spreads.
• Strong emphasis on educational resources.
• Round the clock customer support.

Cons

• Complex fees structure.
• Lacks investing account.
• Lacks automated trading features.

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8. HYCM | 10% Deposit Bonus up to $5,000

HYCM is a widely popular platform that offers new customers a 10% deposit bonus. The bonus amount is at $5,000, which means that traders need to deposit $50,000 to get the maximum bonus. And they need to trade a massive set of 30 standard lots to get $1,000 in bonus funds out of the broker.

Why We Choose It?

When it comes to forex trading, who wouldn’t love to pick an authorized, regulated forex broker? That’s exactly what draws us towards HYCM. Respectfully governed by the FCA is our primary reason for placing a company high on our best no deposit bonus forex brokers list. In addition to its stellar reputation, the company offers a plethora of positive aspects, such as quick account setup, affordable forex and CFD trading fees, easy access to high-quality training resources, and much more.

Key Features

• HYCM is a well-known broker with a strong business track record and a large customer base of international traders.
• Its primary enticing feature is its quick digital account opening.
• The company offers Islamic and demo accounts as well.
• HYCM offers a broad trading platform and trading access to more than 300 financial instruments, including indices, equities, commodities, energy products, and currencies.
• The business is governed by multiple agencies, including the FCA, CySEC, and DFSA, and has a strong track record of credibility.

Pros

• Smooth entry as it has a low minimum deposit.
• Featuring competitive spreads.
• No commissions on certain accounts.
• Mobile app integration assists traders to engage in trading on the go.
• Cryptocurrency CFDs available.

Cons

• Limited customer service.
• Restricted clients from the USA.

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9. TickMill | $30 Sign-Up Deposit Bonus

Global forex broker platform, TickMill, offers the new customers a$10 to $30 no deposit bonus. To prevent manipulation, traders need to verify their accounts before their accounts are funded. The added asset of the platform is that it allows traders to withdraw the profits made from the $30 welcome offer.

Why We Choose It?

Tickmill’s outstanding reputation prompted us to include this company on our top forex brokers list with no deposit bonuses. This platform’s primary features, including fully customizable charts, an integrated economic calendar, sophisticated pending orders, and superior analysis tools, are enough to impress serious traders.

Key Features

• The Tickmill’s remarkable quality is that it puts user safety first while yet aiming to provide unique trading experiences.
• Tickmill has a $10 to $30 no-deposit bonus for a risk-free trading environment for new joiners.
• Tickmill is a CFD and Forex broker that provides cheap spreads and commissions. Through the MT4 trading platform, the firm offers a wide range of over 80 trading marketplaces for different instruments.
• Tickmill offers a variety of account types so that traders can select alternatives that suit their requirements and tastes. This allows the company to serve a wide range of customers.
• Excellent customer service is yet another noteworthy aspect of Tickmill.

Pros

• Having possession of multiple regulatory licenses.
• Minimal forex fees.
• Simple and quick account opening.
• Free withdrawals and deposits.
• Comprehensive MetaTrader suite available.
• Finest platform for algo trading and professional trading.
• Provides trading signals via a Signal Center and automated trading.

Cons

• Restricted range of tradable assets.
• Tickmill’s Classic account has less competitive pricing.
• Not available to US customers.
• Limited news feed.

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10. TemplerFX | $30 No Deposit Bonus

Similar to Tick Mill, TemplerFX also offers a $10 to $30 no deposit bonus. To avail of this offer, traders need to open an account and verify their identity. Traders are then required to trade a minimum of 5 standard lots to withdraw the bonus and any additional profits.

Why We Choose It?

TemplerFX is a reliable platform for traders looking for a cent account and very high leverage up to 1:2000. Fast execution, responsive customer support, and a $1 minimum deposit are other reasons that stimulate our interest in this broker. With a focus on fast trade execution and an interactive trading platform, TemplerFX stands out as one of the best forex brokers with no deposit bonus.

Key Features

• The The broker’s status as an Electronic Communication Network (ECN) broker is its most alluring attribute. Since the brokerage matches buyers and sellers directly, it may offer cheaper spreads and faster trade execution.
• The company offers not only the industry-leading MT4 but also TemplerFX Trader, a trading platform that facilitates efficient technical analysis with the help of indicators like the Money Flow Index (MFI) and Bollinger Bands.
• In terms of spreads, TemplerFX offers competitive pricing. With spreads as tiny as 0.1 pip, traders can profit from changing exchange rates more easily.
• The company also offers quick payment options. While some of these alternatives are free, some require a deposit charge between 1% and 1.5%.
• A demo account is also accessible on the TemplerFX platform.

Pros

• Competitive spreads (from 0.1 pips).
• No commissions.
• Rapid execution.
• Various promotions, including loyalty bonuses.
• Expert Advisors and custom indicators supported.
• Multiple fast and free deposit methods.
• Fast transaction times.

Cons

• Offshore and unregulated.
• Doesn’t accept US, UK, and EU clients.
• Limited asset range.
• Unreasonable conditions for segregated accounts.
• Lack of comprehensive educational resources.
• €50 fee for bank transfer withdrawals.

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A Quick Overview:

What is a Forex Bonus and How Does it Work?

Brokers use these no deposit bonuses in their forex promotions to get potential clients to begin trading. Forex brokers with no deposit bonus claim this simple promotion helps novices in the forex market without risking their money. To put it more simply, consider it a welcome bonus that traders receive upon registering on the trading platform. They can obtain these no deposit bonuses once they successfully register. This feature might be accessible on your preferred platform’s demo or FX accounts. By utilizing these bonuses, novices can enter the trading world and learn about trading terms, forex accounts, demo accounts, and trading bonuses in a risk-free setting.

Different Types of Forex Bonuses

There are two types of forex deposit bonuses to choose from – a deposit bonus and a no deposit bonus.

No Deposit Bonus Forex

It is often known as a complimentary bonus without a deposit, as traders are offered a free bonus without a deposit being made. The brokers make the deposits once traders activate their live account on the platform, which allows them to understand the live trading conditions and explore different options without jeopardizing their funds. This enables novice and seasoned traders to utilize the bonus fund & develop in-depth knowledge about the brokerage platform & its systems. The accessibility of a free bonus varies depending on the broker.

Initial Deposit Bonus

A deposit bonus is an additional sum credited to the trader’s account once they make their first deposit. If traders make a higher initial deposit, they unlock a greater deposit bonus. For example, the broker may suggest to new customers a 100% matched bonus of up to £500. Once they make the deposit, the broker will credit their account with the respective bonus amount.

This gives investors a chance to boost their trading account and use the bonus funds to set limits for their trades. However, the no deposit bonus forex often list down a set of terms and conditions regarding the accessibility of the bonuses and profits made. Some may set minimum/maximum consignment for the trading bonus, while others set certain rules for trading through the live account.

Sometimes the no deposit bonus brokers may demand to trade a certain amount before withdrawing the free bonus or maintain a set amount of money in their accounts for a specific period before trading them. Hence, forex bonuses list out certain terms of conditions that one needs to be aware of before going ahead.

How to Find the Best No Deposit Bonus Brokers?

Here are some vital suggestions we utilized when selecting “no deposit bonus brokers.” Carefully read them to find out what to watch out for while trading your bonus.

• Research: Research is essential when selecting the top brokers offering no deposit bonuses. You can begin your investigation by looking up online reviews, using reputable websites, etc. In addition, carefully review the bonus’s terms and conditions and closely monitor any thresholds. 
• Reading Reviews: As previously said, reviews are a good way to determine whether a broker is legitimate regarding no-deposit incentives. Reviews, both positive and negative, can help you make good decisions. 
• Payment Methods: Make sure the brokers you choose assemble a variety of easy-to-use payment alternatives available on their website. All reputable forex no deposit bonus brokers offer a variety of choices, including bank transfers, credit/debit cards, e-wallets, and cryptocurrency. In addition, confirm payment and withdrawal procedures. Ensure brokers with no deposit bonuses do not impose tight withdrawal limitations. 
• Broker’s Background: Examining the regulatory status and history of the broker is also essential. Selecting brokers governed by respectable organizations like the Financial Conduct Authority (FCA) is strongly advised. It is important to consider regulatory compliance while selecting “no deposit bonus forex brokers” as it guarantees fair and transparent trading practices.
• Usage and Withdrawal Flexibility: Flexibility in withdrawal is still another important factor. Verify whether your broker allows you to use your profits and bonus money. Next, see if they give you access to the key trading features and let you trade various instruments. In addition to these, never neglect to check the terms of withdrawal. Verify the withdrawal terms and conditions, along with any bonus-related withdrawal caps.
• Impact on your Day-to-Day Trading: These bonuses may also impact your day-to-day trading activities. So, verify how these bonuses and their terms can influence your trading. Verify whether the bonus provides enough money to investigate the broker’s offerings and successfully try trading techniques.

Conclusion

The deposit and non-deposit forex bonuses cater to different users’ needs, such as the beginner and experienced traders. The no deposit bonus forex helps beginners to learn the strategies within the platform of intermediary operations. For example, in brokerage, while the deposit bonus helps the experienced traders strengthen their limits and spread their trading balance, it is possible to enter into larger trades resulting in higher profits. A simple strategy is to register with a forex broker, with top-level experience, whose trading bonuses match traders’ needs. They also need to communicate that there is more to attractive incentives than just huge percentages. You need to look into the terms and conditions of using the allocated forex bonus before accepting it.

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