Creating employment to individuals and a client base of over 2 users, FXTM have been around since With specific effort being places on ensuring that the beginner trader finds their feet as soon as possible, FXTM provides extensive training material to help every beginner trader find their feet. Customer tech support is amazing and is available around the clock to assist with technical issues that may occur on the web and mobile platforms.
Trading since , XTB have earned a trusted reputation in the market as a broker that offers a wide product portfolio. Educational and research tools are tailored more for novice traders and customer tech support give quick and applicable responses. Facilitating more than two million trades a month, Avatrade have been a forex broker since and have more than registered traders. With a keen focus on providing training and education for novice traders, Avatrade provide an amazing library of material and web and mobile platforms that provide a good trading experience.
Account registration is effortless and Avatrade has account options that could provide traders with a spread as low as 0.
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Client support is available through email, telephone and live chat and provides a good service. IG are known for always putting the customer first and want to be the market leaders in CFD instruments. Traders will have access to a great web platform with capable tools and account options with spreads as low as 0. Registering an account is easy but has a long confirmation process.
Tech support are timeous and capable with their help. They are a fully licensed and regulated company and offer standard bonuses — no deposit bonuses are not offered by this broker. Considered one of the best brokers in Europe, InstaForex offers some of the best bonuses on the market today. But is there any substance behind the pizzaz? As with everything there are pros and cons to trading with every broker. You will be glad to hear that customers consistently rate InstaForex for having reasonable spreads, a stable trading platform and excellent customer support.
Their education and training materials are also very good for beginners. While Golden Tradex has a great no deposit bonus, we suggest you exercise some caution and find out more about them. They are a new broker trading under the name Evest Group an Australian broker; however, indications show they used to trade under the name FXReino. We cannot provide a full review at this time due to the concerns above.
If you would like to trade with them, we suggest testing them out first with some less risky trades and low amounts. They do offer the MetaTrader platform and promise to provide excellent trading conditions. OcatFX offers very low spreads and has award-winning trading conditions.
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They are a MetaTrader 4 platform broker and also offer cTrader , which is the alternative to MetaTrader. The signup process is effortless, however you will need to wait a few days for compliance documents to be authorized before trading.
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They are known to provide good response times from their friendly customer support employees. Established in , FP Markets has a strong history in the industry. Their trading tools, education and resources are considered high quality. Globex provides trading with Forex and CFDs , indices, precious metals, energy and cryptocurrencies. Founded in the broker has expanded across the globe and is available in many countries including South Africa , Kenya, Nigeria and Botswana.
Although they have limited financial trading instruments, Globex is a popular broker in South Africa using the MT4 platform and providing Islamic accounts. The broker offers stocks, Forex , ETFs , commodities and cryptocurrencies for trading, with a variety of fees and spreads depending on the account. Known to be popular with beginner day traders and experienced traders, Olymp Trade uses its own proprietary platform which is easy to use and find the information you need quickly. Customer service is good and they have a great traders club for sharing and discussions, as well as excellent learning resources about Forex.
The payment method and your permanent place of residence also need to be verified.
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Like all promotional incentives available to online traders, Forex no deposit bonuses come with certain conditions that must be met before you can take full advantage of the free trading credits. The first and most important requirement is to set up a live trading account. New customers who register demo accounts upon arrival are generally not eligible for redemption. Some Forex brokerages cater with no deposit bonuses only to traders based in specific jurisdictions due to financial regulatory restrictions.
The general rule of thumb is that all types of promotional offers are off-limits to customers registering from countries based within member states of the European Union EU. Another important condition stipulates the customer must undergo a full verification of their account to become eligible for a no deposit bonus. As far as withdrawals go, traders can cash out the profits acquired from using the free funds anytime they wish. However, most brokerages would require you to make a real-money deposit before you can request a withdrawal.
There may be restrictions on the amount you can cash out in the form of profits. In many instances the maximum withdrawable amount is fixed rather than trading-volume dependent. Traders sometimes have a limited time to meet these requirements , starting from the day of opting in for the offer. However, the exact timeframe customers are granted differs between brokers. Restrictions apply to the maximum leverage customers can use when trading with a no deposit bonus but these are largely broker-specific.
Some brokers would also impose limitations on the maximum trading volume allowed with an active no deposit bonus. More often than not, the bonus amount itself is non-cashable; only the associated profits can be withdrawn.
Of course, you need to trade with your personal funds to unblock the bonus-related earnings. The bonus itself is canceled when the trader sends a withdrawal request and is removed from their account. Few brokers would allow you to cash out both the bonus and its associated earnings. Since this type of offer aims to incentivize new customers to try the platform and potentially stay with a given broker, each new registrant can apply and receive a no deposit bonus no more than once upon signing up.
The type of account you open also matters with some brokerages and so does the platform you register for. For instance, some trading sites offer this type of incentive only to customers who sign up via the MetaTrader 5 platform. Those who use MT4 are ineligible in this case. Certain live account types may not be eligible for redeeming a no deposit bonus.
The bottom line is you should always make sure you read and understand the promotional terms and conditions or else you might have your bonus forfeited due to violations. There are numerous advantages of using Forex no deposit bonuses, especially if you are interested in online brokerages that do not give you the option to sign up for a free demo account. No deposit bonuses are important, first and foremost, because they offer traders the chance to test a given platform and develop a clear trading strategy. This type of promotion also enables you to draw comparisons between several brokerages.
It furthers decision-making and helps you make a better-informed choice when selecting a broker. Claiming a no deposit bonus allows novice traders to experiment with new instruments and currency pairs to broaden their knowledge and scope. One such person can easily familiarize themselves with the second pair by putting their no deposit bonus to good use. As appealing as no deposit bonuses are, they are not entirely lacking in disadvantages.
To begin with, you may not be eligible for redemption in the first place when based in some jurisdictions, particularly the EU. Another weakness of no deposit bonuses is that they usually give you very nominal amounts to trade with for free.
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From this perspective, beginners are better off registering a free demo account if available. The latter would provide them with more time to hone their Forex trading skills. Another widespread downside of the no deposit bonus is that often the bonus amount itself is uncashable. Trading Platforms.
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MT4 Platform for trading Forex, analysing financial markets and using expert advisors. Mobile App. WebTrader Trade online without downloading any software. Deposit Methods. Check Website. Welcome Offer.