TU experts reveal which broker gives a free bonus without a deposit in 2023

The world of Forex trading can be both exciting and overwhelming for newcomers. Many brokers offer enticing incentives such as free bonuses without deposits to attract new clients and make their initial experience more pleasant. To help traders make informed decisions and answer the question, “Which broker gives a free bonus without a deposit?” Traders Union has compiled a list of the best brokers in the industry offering these bonuses and an overview of the various Forex bonuses available in the market.

Types of Forex Bonuses

According to TU analysts, there are several types of Forex bonuses available to traders:

No-deposit bonus

A no-deposit bonus is a promotional offer that allows traders to start trading without making an initial deposit. It is an excellent way for beginners to test a broker’s platform and services.

  • Pros: No initial deposit is required, and allows traders to test the platform and services;
  • Cons: It usually comes with strict withdrawal conditions and trading requirements.

Deposit bonus

Deposit bonuses provide traders with additional trading capital based on their initial deposit amount. These bonuses are usually offered as a percentage of the deposited amount, such as a 50% or 100% bonus.

  • Pros: Provides additional trading capital based on the initial deposit;
  • Cons: It may have high trading volume requirements before the bonus can be withdrawn.

Forex welcome bonus

A Forex welcome bonus is a one-time promotional offer brokers provide new clients when they sign up for an account. This bonus can come in various forms, such as cash, trading credits, or reduced spreads.

  • Pros: Encourages new clients to sign up, provides an initial boost to trading capital
  • Cons: May require a minimum deposit or have withdrawal restrictions

Which broker gives a free bonus without a deposit?

Traders Union has identified several brokers that offer a free bonus without requiring a deposit, which allows traders to begin trading without risking their own capital. These are RoboForex, XM, Tickmill, and InstaForex.

What are the common mistakes traders make while choosing a Forex bonus?

According to TU experts, traders often make the following mistakes when choosing a Forex bonus:

  • Not reading the terms and conditions: Traders should carefully review the bonus terms and conditions to understand withdrawal requirements and any trading restrictions.
  • Choosing a bonus solely based on its size: A larger bonus may have more stringent withdrawal conditions. Instead, traders should prioritize bonuses that offer favorable terms and a reputable broker.
  • Ignoring the broker’s reputation: Traders should research the broker’s reputation, regulations, and customer service before selecting a bonus.
  • Failing to consider the bonus’s impact on trading strategy: Some bonuses may limit the types of trades or trading instruments available. Traders should ensure the bonus aligns with their trading strategy.

Top Forex brokers with bonuses

According to TU experts, the top Forex brokers offering bonuses include:

  1. RoboForex: This broker offers a $30 no-deposit bonus, allowing traders to start trading without any initial investment.
  2. XM: This company provides a $30 no-deposit bonus and a deposit bonus of up to $5,000 for new clients.
  3. AMarkets: It offers a $50 no-deposit bonus and a 20% switch-your-broker bonus for traders who transfer their accounts.
  4. Tickmill: This company provides a $30 no-deposit bonus for new traders to test their platform.
  5. Forex4You: It offers a deposit bonus of up to 100% for new clients, with no minimum deposit requirement.

In the list of the top 10 best Forex brokers with bonuses, Traders Union has also included InstaForex. This broker offers a generous up to $1,000 no-deposit bonus, allowing traders to experience their platform and services without any initial investment.

Selecting the right Forex bonus can provide traders with an excellent opportunity to start trading without risking their own capital. By understanding the different types of bonuses and avoiding common mistakes, traders can maximize the benefits of these offers. Readers can visit Traders Union’s official website to learn more about the best brokers and their bonus offerings.