Over the last five years, Forex has emerged as the hottest financial market for traders. The quick liquidity factor has become the centre of attraction for investors worldwide. More and more people are getting into FX trade to earn good money. There are some people who have taken FX as their full time profession while others have taken up currency trading as an additional source of income.
Like it’s said there is no business without risk; similarly there is no trading without risk either. Through Forex offers high profit potential, it is also tied with the risk of loss. The risk of loss depends on the leverage ratio. In other words the higher the profit potential, the higher the risk of loss.
Therefore, for beginners and novice traders trying their luck at Forex trading for the first time, it is always advised to practice and learn FX strategies without deposits through either demo accounts or signing up with a platform that offers FX bonus without deposits.
This is a good option for traders who want to test the waters and see if currency trading is a good decision for them or not. Through demo service, you can easily buy and sell currencies in a stimulated environment with virtual cash. The stimulated environment replicates the real FX world volatility and helps you gain experience without putting real investments at stake. Demo usually has a 30 day trial, which is a good span of time to learn new FX strategies and understand the Forex market before you get started for real.
FX Bonus Without Deposits
This is a new feature that is a win-win for both brokers and traders. Since nowadays brokers are faced with aggressive competition and want to attract maximum clients to engage in trades through their platform therefore many brokers have now started offering Forex trading accounts to traders with free bonus and no deposits.
How To Sign Up?
To sign up for Forex bonus without deposit accounts, traders first have to create a live account by filling the sign up form with personal details. After filling the required details, accounts are then deposited with some initial money from the broker’s side. It can range between $30 to $100 depending on the Forex broker you select.
How it Works?
Using the cash deposited by the broker, you can participate in real Forex trading without spending or investing a dime from your pocket and make good profits. The best part is that even if you lose the amount, the broker does not ask for any refund. But your bonus amount gets exhausted. So, if you wish to trade using the same platform, then you have to make an investment first.
Another important thing to note is that, you cannot withdraw the bonus money that the broker has deposited in your account. But the profits you earn using that money in currency transactions can be withdrawn.
This is a great profit earning opportunity for traders without putting their own investments on the line. What makes it better and more attractive than demo accounts is that you get a chance to experience market volatility not in a stimulated environment but in real time.
Also, you can get used to the platform interface and understand the features on the site. You can leave the platform easily if you don’t find it user-friendly, since you have made no real investments with the broker.
Terms and Conditions
However, the terms and conditions for using these types of accounts vary from broker to broker. Therefore, it is advisable to read through the terms carefully and then make your final choice.
In addition to this, before you choose a broker to start buying and selling currency pairs through a no deposit facility, it’s important to ensure that the broker you are signing up with is reliable and trusted. As this facility is gaining attention from novice traders, many fraudulent brokerage services are now also cashing on it.
To avoid scams, always research about the broker through reviews and other mediums to check its credibility. However, to save your time we have a reliable recommendation for you Plus500. Established in 2009, Plus500 is a UK based broker regulated by UK FSA (Financial Services Authority). This broker also offers the no deposit facility to traders for FX trading. Try now!