How to Make Money in Forex Without Investment in the UK
The Best App for Trading Without Investment in the UK - Admiral Markets
Best Apps for Trading Without Investment in the UK:
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Admiral Markets - affiliate programme with up to $600 per client
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Topstep - the funded trading account up to $150k
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IC Markets - white label solution
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Tickmill - мonth contest with a tempting $1,000 prize
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FxPro - to earn up to $1,100 for each client
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eToro - crypto affiliate programme
For aspiring traders seeking opportunity without requiring sizable startup funds, this article shines light on several innovative paths worth exploring. While most assume trading entails risking one's capital from the outset, alternatives exist for demonstrating your skills and potentially profiting without a dime invested. Several reputable brokers now offer affiliate programs, competitions, and even funded accounts handled by professional firms. Through referral bonuses, cash prizes, and simulated trading with real money, your abilities can be showcased for potential reward. Of course, consistency and discipline remain keys to longer term success. But for newcomers or those short on capital, these approaches offer a fresh perspective. Below цу outline some of the most practical options, with a focus on specifics for UK traders.
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Is it hard to generate referrals for an affiliate program?
Building an audience takes effort, but using social media and forums can introduce people to your affiliate links over time.
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What are the tax implications of affiliate commissions?
Affiliate income is taxable and must be declared on your annual self-assessment tax return.
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How long do I have to trade successfully in a prop firm challenge?
Program length varies but is typically 30-90 days to prove consistent results before receiving a funded account.
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What if I live outside the UK, can I still participate?
Many brokers accept global traders but jurisdictions may impact available programs. Residency also affects things like taxes on commissions.
Can I make money by trading without investment in the UK?
The short answer is yes! There are several options for making money in trading without having to invest your own funds and here we will be focusing on 3 of them: Broker affiliate programs, Broker competitions and Forex funded trading programs.
Broker Affiliate Programs: Many brokers offer affiliate programs that allow you to earn a commission by referral. This means that you get paid when new traders join the broker’s platform after following your affiliate link. It's a win-win situation for both parties, the broker and yourself: On the one hand you earn money for every new trader you refer to the broker, and the broker gains a new customer without going through the hassle and acquisition costs of getting new traders to join their platform.
There are different types of Affiliate programs. In some cases you get paid a fixed amount for every new trader that you refer to the broker. Although this isn't always the case, you can expect to receive payment ranging from £50 to over £700 for each successful referral.
In other cases, you may receive a percentage commission on the spreads generated by trades executed by your referred clients. The commission here is usually around 30% on the total spreads generated by your referred clients in a given month.
👍 Pros
• 1. You can generate passive income from spread commissions
• 2. You do not need any trading experience to get started
• 3. It’s a win-win for you and the broker
👎 Cons
• 1. Dependency: Your income will depend on how many traders you are able to refer to the broker and if the incentive is commission based then, it will also depend on how active those traders are
• 2. Market Challenges: Your income will also be affected if the broker starts to get a bad reputation. Choosing the wrong broker may backfire in the long term
Broker Competitions Some brokers organize trading competitions where you can sign up, compete, and showcase your trading skills. In these competitions winners and top performers get often generous rewards. These rewards can include cash, trading account credits or valuable prizes such as electronic gadgets, trips or trading education courses
👍 Pros
• 1. Skill Enhancement: These competitions are a great way to get hands-on experience, learn and become a better trader overall
• 2. Interesting Rewards: Winning these competitions can lead to financial rewards, prizes and other incentives
👎 Cons
• 1. Sticking to the rules: In order to win you must adhere to certain rules provided by the broker. These rules may include max daily drawdown ratios, limited leverage, a defined list of tradable assets, etc. This may not fit your specific trading style
Forex Funded Trading Programs: Certain brokerage firms provide funded trading accounts, allowing you to trade with their capital. If you demonstrate to be a consistently profitable trader, you can earn a share of the profits without investing your own money. There is not a clear limit to how much you can earn following this option since the amount at your disposal changes from one platform to another. Your own ability as a trader will also determine how much you can make if you follow this route
👍 Pros
• 1. Profit Sharing: You get paid a % amount of every pound you make
• 2. Professional Experiences: This is the closest you can be to professionally managing your own fund
• 3. No Financial risk: If you lose more than a certain amount, you may lose your funded account but you will not lose money personally
👎 Cons
• 1. Performance Requirement: Some of these programs require you to achieve specific performance targets
• 2. Risk Management: You will have to adhere to certain risk management parameters. These tight rules may play against you depending on your personal trading style and strategy
• 3. Terms and Conditions: Review carefully the terms and conditions of your funded trading program to avoid bad surprises later
As you can see, each option has its pros and cons, and the amount you can earn varies, so be sure to explore these opportunities to find the one that best suits your trading style and goals.
For more details, check out this article on making money in Forex without investment: How to Make Money in Forex Without Investment.
Best Forex trading apps in the UK to earn money without investment
Let's take a closer look at some of the best trading apps in the UK that offer opportunities to earn money without requiring an initial investment:
Admiral Markets - best for beginners
Admiral Markets is one of the top Forex brokers in the UK. Its platform offers several opportunities to get involved in trading without investment.
Admiral Markets offers the possibility to get rewarded for every new trader you refer to their platform. In this case both, you and the new trader may get rewarded, which is an approach often followed by many Forex trading apps.
The company also organizes trading competitions and promotions, allowing traders to showcase their skills and win attractive prizes. Participating in these competitions not only offers a chance to earn cash rewards but also provides valuable experience and a platform to demonstrate your trading prowess.
It’s worth mentioning that Admiral Markets offers very low spreads and impeccable execution, which are both paramount factors to ensure that the result you get at those competitions truly reflects your trading skills.
Whether you're a beginner looking to gain experience or a seasoned trader aiming to boost your earnings, Admiral Markets provides an excellent environment to achieve your goals without an initial investment.
IC Markets - best for Forex trading
IC Markets is a very popular online trading platform offering a robust environment for trading various financial instruments, including Forex. It allows hedging techniques and emphasizes transparency and low spreads, which appeals to both newcomers and seasoned traders.
While IC Markets primarily targets active traders, it also offers opportunities for users to potentially earn money without an initial investment through promotions and contests. The platform periodically hosts trading competitions where participants can showcase their skills and strategies for a chance to win appealing prizes, including cash rewards.
When it comes to Affiliate programs, IC market offers $2 per lot on Raw Spread accounts and 0.4 pips on Standard accounts, so if you are able to drive active traders to their platform you may eventually generate a sustainable passive income stream.
If you're a highly sophisticated trader or institution, it's also worth noting that IC Markets offers a white label solution which is a specialized offering for financial institutions, brokers, and businesses aiming to establish their own Forex trading brand without the need to develop the necessary trading infrastructure from scratch.
Tickmill - best Forex spreads
Tickmill is also one of the reliable apps for online trading in the UK. It not only provides a solid trading platform but also offers unique ways to make money without investing your own capital. For those seeking innovative ways to earn, Tickmill's offerings are worth exploring as they cover the 3 potential avenues we have explored above; affiliate program, trading competitions and funded trading programs:
Their Affiliate program offers a lucrative opportunity. By referring new traders, you can earn a commission ranging from $2 to $10 per lot. This presents a good chance to leverage your network and earn as your referrals trade.
Additionally, Tickmill's Forex Funded Trading Programs offer an opportunity to get started without your own funds. With a $30 free trading balance, you can jump into the markets, gaining valuable experience without any initial investment.
For those who enjoy competition, Tickmill's Trader of the Month contest is exciting. With a tempting $1,000 prize up for grabs, it's a chance to showcase your trading skills and potentially earn a significant reward.
FxPro - best for CFD trading
FxPro is another well-known broker with attractive affiliate programs that present opportunities to profit from the online trading business without investment of your own capital. They offer two main affiliate schemes that can be advantageous for those interested in generating income.
First, their Affiliate program provides an appealing opportunity to earn up to $1,100 for each client you introduce to FxPro. By referring new traders to the platform, you can earn a significant commission for each client that starts trading. This scheme allows you to leverage your network and earn based on the trading activities of your referrals.
Additionally, FxPro's Introducer program is another way to earn money. By referring clients and acting as an introducer, you can earn rebates based on the volumes traded by your referrals. With the potential to earn up to 55% of FxPro's revenue from every active trader you introduce, this program offers another income opportunity.
Both of these affiliate schemes from FxPro provide pathways to earn money without investing your own capital. Whether you're interested in earning per client introduced or earning a percentage of trading volumes, FxPro's affiliate programs offer flexible and potentially lucrative ways to profit from its trading app without doing investments in the UK.
eToro - best for copy trading
eToro is widely known for its social trading capabilities. This broker offers a distinctive feature known as copy trading. This feature allows traders to allocate a portion of their funds to automatically copy the trades of experienced investors on the platform.
One of eToro's standout features is its user-friendly interface, which makes it an ideal choice for beginner traders. However, this focus on simplicity is also a limitation as it does not offer some key features for more advanced traders such as being able to integrate with Metatrader.
Moreover, eToro is recognized for its innovative approach to trading. It periodically introduces challenges and contests that present top-performing traders with substantial financial rewards. If you’re seeking one of the best trading apps to earn money, keep an eye on eToro. Its commitment to providing exciting opportunities, combined with its strong reputation in the trading community, positions it as a notable choice for novice traders looking to explore new avenues for potential earnings.
Top 3 prop firms in the UK
Topstep - best for futures trading
With its brand power and reputation as an industry innovator and one of Inc 5000’s fastest-growing companies, Topstep has earned the trust of many traders. To participate in the funded account program, all traders begin with the Trading Combine. You can open a real-time simulated futures account with $150K, $200K, or $300K buying power.
During the Trading Combine, you can earn a funded trading account if you demonstrate consistent profitability and manage risk appropriately. Using Topstep's capital, you can trade in real time without personal financial risk, with funds provided by Topstep.
As quickly as within eight trading days, traders can qualify to receive a funded account (the amount of funding provided is determined by the Trading Combine plan)
The first $5,000 in profits you make can be withdrawn in full, and 90% of profits exceeding that amount can be withdrawn
With Topstep, payout requests are processed on a daily basis (payout requests made prior to 10 a.m. CT are processed on the same day)
Topstep’s trader development services include instruction from professional traders, tools, and daily live videos, along with personalized analytics on performance and bonuses for traders
Trading platforms supported include TSTrader, TradingView, NinjaTrader, Sierra Chart, MultiCharts, R|Trader Pro, and many more.
For a $50k account, Topstep pricing starts at $165 per month. $100k accounts cost $325 per month, and $150k accounts cost $375. Free trials are also available for 14 days.
The 5%ers - best instant deposit prop firm
The 5%ers are known for their unique ways of handling Forex funded accounts. These methods may be beneficial to traders who would like to try something different.
The 5%ers take a completely different path from the other apps on this list. Each funded trading account is a live, real-money funded trading account funded by The5ers and tradeable by subscribers.
All forex majors such as EUR/USD, USD/CHF, and key cross-currency pairs such as AUD/CAD and GBP/JPY are tradable assets. Each trader must complete the Level 1 Program with a profit target ranging from 10% to 25%.
The Level 1 Program will be closed once the profit target has been archived by trading according to the guidelines. Profit will be distributed in accordance with the profit split, and a new trading account on the next higher financing level will be established with you as a Portfolio Manager Partner. The entry cost ranges from $275 to $875. The 5%ers offer a 50/50 split on profits.
FTMO - up to 2M funding account
FTMO is a trustworthy prop trading company with a focus on Forex trading. You must go through three steps before getting a funded trading account:
Before you can meet the profit goals, you have to complete the FTMO Challenge in 30 days
The 60-day Verification Phase follows, wherein you must demonstrate that you can replicate your FTMO Challenge success
After you complete the FTMO Challenge and the Verification two-step assessment process, FTMO extends an invitation to trade their funds on accounts with balances ranging from $10,000 to $400,000
The trader retains 80% of the profits. For accounts that have already been funded, however, an extra scaling plan lets traders increase the profit split in their favor for up to 90/10 with account levels as high as $2,000,000.
Trading is possible with 44 currency pairs and 10 of the biggest and most well-known cryptocurrencies. Some cash indices, stock CFDs, and commodities can also be traded. The fees on FTMO start at 155 euros and go up to 1080 euros.
Rules and Regulation
Licensing in the UK
Exchanges in the UK must be approved by the FCA and meet the requirements regarding anti-money laundering and combating the financing of terrorism (AML/CFT). These rules came into effect in 2020. To obtain a crypto license in the UK, a company must:
- register;
- open an account with a British bank;
- open an office;
- observe AML/CFT policies;
- establish a Know Your Client (KYC) procedure;
- have an internal audit service.
Investor protection in the UK
Besides the FCA, investor protection in the UK is ensured by the Financial Services Compensation Scheme (FSCS), under which users get compensation in case of a company’s bankruptcy.
Taxation in the UK
In the UK, cryptocurrency is not considered to be a payment method, but is classified as an asset. It means that profits from cryptocurrency trading are subject to a 10% or 20% capital gains tax (CGT).
Can I start trading without a minimum deposit?
Yes, many brokers in the UK do not require a minimum deposit, or the minimum deposit is quite nominal (usually around 10-100 pounds). Additionally, some brokers offer trading contests where you can participate without any deposit. Keep in mind that free evaluation prop firms also exist, providing you with an opportunity to start trading without making an initial investment.
How much do I need to invest in order to earn decent money?
Typically, traders recommend starting with at least $1,000 or more for a trading experience that can provide decent monetary rewards. Learning the ropes and generating substantial profits takes time. However, if you're looking for options to earn without investment in the UK, there are trading apps and programs available that can help you get started without putting your own funds at risk.
How to trade without investment
Choosing a Forex broker can be a daunting task, and trading without investment requires careful selection of the right platform if you are new to trading, So we recommend starting out by checking the apps for online trading that we have covered in this article, which can help simplify your decision-making process.
Look for trading apps with no-deposit bonuses, participate in broker competitions, and explore affiliate programs. These options can provide you with a chance to earn money without an initial investment.
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Team that worked on the article
Peter Emmanuel Chijioke is a professional personal finance, Forex, crypto, blockchain, NFT, and Web3 writer and a contributor to the Traders Union website. As a computer science graduate with a robust background in programming, machine learning, and blockchain technology, he possesses a comprehensive understanding of software, technologies, cryptocurrency, and Forex trading.
Having skills in blockchain technology and over 7 years of experience in crafting technical articles on trading, software, and personal finance, he brings a unique blend of theoretical knowledge and practical expertise to the table. His skill set encompasses a diverse range of personal finance technologies and industries, making him a valuable asset to any team or project focused on innovative solutions, personal finance, and investing technologies.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).