Forex No deposit bonus is a genre of promotional bonus that Forex brokers use to attract new clients. It gives traders an opportunity to test the broker’s platform, execution and trading service without making any deposit.
The no deposit account is just like a regular account. Traders will get the same experience as they do with a live trading account. Trades will be the same as it is on a live account. The Forex no deposit bonus account has some conditions in order to make withdrawals.
Forex trading is a type of trading in the forex market that does not require any investment in stocks or speculating about them. The money is directly invested in the money market and speculation is done on the movement of currencies with respect to one another. The No Deposit Bonus can be beneficial to a new trader in the market because there is no requirement for any money in order to start trading. This bonus therefore makes the trial period completely risk free since the company provides you with some bonus amount when starting up. The company will also provide you with guidance which you need to follow to make profits every day.
To acquire the bonus, a Forex account will be opened and some private information presented. This type of bonus is encouraged because you can then start trading along with the brokers with actual money as you try out the system without using your personal capital.
The No Deposit Bonus has the following benefits:
It is an incentive for a new trader since they are not starting with any of their money.
It boosts the confidence of the new trader.
Apart from the bonus, some companies also provide other benefits to the investor.
The gains for the trading during the trial period will be kept by the investors and any losses will be refunded to them.
The concept of No Deposit Bonus Forex Reward protects your money and makes the investment more secure.
No skill or experience is required for the new trader, the offered tool is downloaded and then trading starts.
With the No Deposit Bonus you acquire the money to start out trading through the brokers before even providing a deposit or any type of commitment along with the broker.
The new trader will get to try out the broker's platform as well as test their trading skills and acquire some experience.
The No Deposit Bonus Forex Rewards system has the following disadvantages:
The profits made during the trading can be withdrawn but the bonus money itself cannot be withdrawn unless it meets certain criteria that are set out by the broker. This criteria includes the further funding of the account and the trading volume of the new trader.
The bonus amounts are usually quite small and it may take a long time before a lot of money can be made unless the new trader adds some more money.
The No Deposit Bonus promotion should be properly planned because a badly planned promotion can start building a negative reputation for the broker.
Before the promotion, brokers should carefully know the benefits and disadvantages that can occur. The brokers may also have to spend some money on advertising.
The promotion rules should be carefully defined as well as the eligible circle of traders. The broker should then decide on whether it will be a worldwide promotion, or an offer affecting only certain countries.
The broker should not change the No Deposit Bonus rules after the promotion begins, this will make people lose confidence in the broker.