Even though the majority of forex brokers offer demo accounts that let their customers practice with the trading platform, some also offer a welcome bonus with no need to add cash to your account. The leading Social Trading platform with 4. A bonus gives the customer real money to make trades and allows them to withdraw their profits, after a specified number of trades, all without risking forex brokers giving no deposit bonus of their own money. It is thus a perfect way to learn how forex works without having to spend any money.
In the vast majority of cases, welcome gifts are only given to new customers who open an account and haven’t made any deposits before. Before the customer can make a withdrawal, they must usually have made a minimum amount of trades as set out by the broker’s bonus rules. There could also be a maximum amount of profits that the customer can withdraw if they haven’t deposited any of their own funds. The best use of these funds is to add to a position you would take anyway, increasing your margin and therefore the chance that you could profit from a trade, but most will use the bonus as an opportunity to test a trading platform in a real world scenario, as many brokers’ demo accounts work on a different feed to real trading so issues such as transaction speed and slippage are not as apparent.
These deposit bonuses work in a way that is similar to what online casinos and sports betting sites offer their players. The customer makes a deposit and receives a percentage of their total deposit amount as a bonus. In most cases, the bonus would be applied instantly to the account. By leveraging these you can dramatically increase your flexibility in opening positions, as the additional bonus acts as a buffer against adverse trades.