While many different brokers offer no deposit promotions, not all of them can be trusted. So over the past few weeks, I've gone through the sign up process for a number of different forex brokers offering no deposit bonuses to see if I could find out which is best.
No deposit bonuses are a great way to try out a forex broker, without having to part with any cash. You'll be test drive the software and practice your trading.
The XM $30 No Deposit Bonus
I believe XM.com offers one of the best no deposit bonuses. Here is how it works:
- $30 will be automatically credited to your account when you sign up
- Only for new customers
- You can withdraw the profits but not the original $30. So any money you make trading is yours to keep or continue trading with.
- You have 30 days to claim the bonus
- No deposit is required!!
I'm not sure how much longer XM.com will be running this promotion for. By the looks of things it's ongoing.
XM Deposit Bonus
As well as a no deposit bonus, XM also offers a deposit bonus. So after trying out the platform with your bonus cash, if you decide to make a deposit you'll get a bonus on that as well.
The bonus is done over 2 tiers. You'll get 50% upto $500 and then a further 20% upto $4500. That's one of the most generous deposit bonus out there.
Deposit bonuses are a great way to increase your forex profits by giving you extra margin to trade with.
XM is a trusted broker that has been around for a long time. You can get started trading with as little as $5. Unlike other brokers, they don't charge any deposit or withdrawal fees – you're free to withdraw your profits at any time without having to worry about fees eating into your profits.
In terms of the platform, they offer both MT4 and MT5 trading platforms and flexible leverage from 1:1 to 1:500. On XM you're able to trade a range of Forex, Stocks (cfds), commodities and even cryptocurrencies.
The offer a range of account types for different traders, including a 0 pip spread account!