Best CFD Welcome Bonuses and No-Deposit Bonuses in South Africa
CFD (Contract for Difference) trading is a popular investment option for individuals in South Africa who are looking to trade in the financial markets. CFDs allow traders to speculate on the price movements of underlying assets such as stocks, commodities, and Forex without actually owning the asset. To attract new clients and encourage existing ones to continue trading, many CFD brokers offer welcome bonuses and no-deposit bonuses. These bonuses can boost traders' trading account balance, allowing them to take on larger positions and potentially earn greater profits.
So, in this article, the experts at TU will explore some of the best CFD welcome bonuses and no-deposit bonuses currently available in South Africa and provide insight into what traders should look for when selecting a CFD broker.
According to Traders Union’s experts, some of the best brokers that offer CFD bonuses in South Africa are:
RoboForex
AvaTrade
XM Group
Top 3 CFD Welcome bonuses in South Africa 2024
Experts have shortlisted the top three brokers that offer welcome bonuses in South Africa in 2023:
Best Forex Bonuses in South AfricaRoboForex
RoboForex is a top-rated CFD broker providing traders access to various trading assets on its Pro-Cent, Pro-Standard, and RAMM accounts. In addition, the broker offers a broad range of trading platforms, including the widely-used MT4 and MT5 platforms, making it a popular choice among traders.
One of the most attractive offers from RoboForex is its no-deposit bonus of $30 USD, which enables traders to start trading without making any investments. This bonus is available on Pro and ProCent accounts and can be used by traders to familiarize themselves with the broker's platform and trading conditions. To qualify for the no-deposit bonus, traders must register with RoboForex and meet the broker's broker's terms and conditions.
Apart from the no-deposit bonus, RoboForex offers a Classic Bonus of up to 120% on all deposits made. This bonus is available on MT4/MT5-based cent and standard accounts and can help traders increase their trading capital significantly. To qualify for the Classic Bonus, traders need to make a deposit and comply with the broker's terms and conditions.
Overall, RoboForex is a top-rated CFD broker that offers attractive bonuses for traders who want to start trading without risking their own money. With its excellent reputation and competitive bonuses, RoboForex is undoubtedly one of the best brokers for traders in South Africa who want to take advantage of no-deposit bonuses and other trading incentives.
RoboForex Bonus ProgramsXM Group
XM is a well-known Forex CFD broker that offers a range of trading accounts and platforms to suit different traders' needs. They offer a $30 no-deposit bonus to new traders who want to try their platform before making a deposit. This bonus can be used to trade various Forex pairs and other financial instruments.
In addition to the no-deposit bonus, XM offers its clients a range of other trading incentives. For example, traders can receive deposit bonuses of up to $5,000. The minimum deposit required to qualify for the deposit bonus is only $5, and traders can receive a bonus of half their original deposit up to $5,000. This can provide traders with additional trading capital and enable them to take larger positions in the market.
For those looking for a more substantial bonus, XM also offers the XM broker offer with a 50% matched deposit bonus up to $1,000. This gives traders a 20% bonus for everything above $1,000 up to a maximum of $4,500. Overall, XM is a top-rated CFD broker that provides traders with excellent trading incentives and a range of trading options to suit different trading styles and preferences.
How to Get XM BonusesAvaTrade
AvaTrade is a popular Forex CFD broker that offers a range of trading accounts and platforms to suit traders' needs. They provide traders with a substantial bonus of up to 20% on their deposits, with a maximum bonus amount of $10,000. This means that traders would need to deposit $50,000 to receive the maximum deposit bonus on AvaTrade.
To access the bonus, traders need to deposit a minimum of $100 and go through the verification process before funding their accounts. After receiving the bonus, traders can withdraw it by trading a certain volume. Specifically, traders get $1 for every 0.1 lot that is traded. This means that the bonus is an excellent way for traders to increase their trading capital and take larger positions in the market.
Overall, AvaTrade is a top-rated CFD broker that provides traders with a substantial deposit bonus and a range of other trading incentives. The broker's excellent reputation and high-quality trading platform make it an attractive option for traders who are looking for a reliable and trustworthy broker to trade with.
Best Forex Brokers With welcome BonusesTop 3 Forex CFD brokers' no-deposit bonuses
RoboForex
One of the most attractive features of RoboForex is its $30 no-deposit bonus for new customers. In addition to the no-deposit bonus, RoboForex offers an ongoing promotion that runs from July 2022 until April 2023. During this promotion, RoboForex will be giving away a total of $1,200,000 to random customers, with 64 prizes awarded every month up to $20,000. This promotion provides traders with an opportunity to win some additional cash while trading on the platform.
InstaForex
InstaForex is a well-regarded online broker that offers a $1000 USD Start-Up bonus to newly registered accounts without any minimum deposit requirements. This no-deposit bonus allows traders to start trading without risking their own money.
InstaForex Bonus ProgramsFBS
FBS is a well-known Forex broker that has been in business since 2009. They offer various trading accounts, educational materials, and a wide range of financial instruments. FBS is known for its generous no-deposit bonus, the FBS Level Up Bonus. This bonus is a 70 USD no-deposit bonus that can be doubled to 140 USD if certain conditions are met.
In order to obtain a bonus of 70 USD, traders are required to sign up with FBS and confirm their email address. After completing this initial step, they must connect their Facebook account with their FBS Personal Area. Upon completing this process, traders will be granted a no-deposit bonus of 70 USD in their trading account which can be used to trade various financial instruments, including Forex.
How to Get FBS BonusesWhat is a CFD broker bonus?
A CFD broker bonus is a promotional offer given by a broker to attract new clients to their platform. The bonus is usually offered in the form of free funds, which can be used to trade financial instruments such as Forex, stocks, indices, and commodities. One of the most common types of CFD broker bonuses is the no-deposit bonus, where new customers can receive a bonus without having to make an initial deposit.
It is important to note that although the bonus is free, there are usually conditions attached to it. For example, traders may need to meet certain trading volume thresholds before withdrawing any profits from trading with the bonus funds. This is to prevent abuse of the bonus offer and ensure that traders are committed to using the broker's platform for trading.
It's always a good idea to read the terms and conditions of any CFD broker bonus carefully before accepting it. This will help traders understand the requirements and restrictions associated with the bonus.
Best Forex Bonus ProgramsHow to choose a CFD trading bonus in South Africa?
Choosing the right CFD trading bonus in South Africa can be a demanding task. So, here are some key points to keep in mind as suggested by our experts:
Safety & Regulation: It's essential to choose a CFD trading platform that is regulated by the Financial Sector Conduct Authority (FSCA) to ensure the safety of your invested funds.
CFD Trading Fees: Consider the trading fees, including spreads and commissions, to make sure they are reasonable and fit your trading strategy.
Support: Look for a platform that offers good customer support, including a responsive help desk and educational resources to help you improve your trading skills.
Number of Instruments: Choose a platform that offers a wide range of trading instruments to allow you to diversify your portfolio and take advantage of multiple opportunities.
Are Forex bonuses legal in South Africa?
Forex bonuses are legal in South Africa as long as the broker offering them is regulated by the FSCA. However, traders must be cautious before accepting bonuses and ensure they understand the associated terms and conditions, such as restrictions on profits and withdrawals. It is important to thoroughly research the broker offering the bonus to ensure they are legitimate and provide trustworthy bonuses.
Best Forex Welcome BonusCan I withdraw my CFD bonuses?
Withdrawing CFD bonuses can be a complex process, as brokers typically have certain limitations in place. When a trader receives a bonus, the broker will normally freeze the bonus funds until certain conditions are met. For example, the broker may allow the trader to withdraw $1 for every $10,000 traded.
Let's say a trader receives a $100 bonus with a withdrawal limit of $500. To withdraw the full bonus, the trader must meet the broker's trading requirements. If the broker has set the trading requirement to $1 traded for every $10 of bonus, the trader would need to execute trades totalling $10,000 to withdraw the full $100 bonus.
It's important to note that traders need to be actively trading and consistently placing trades to meet these requirements. In addition, traders should read the terms and conditions of the bonus carefully before accepting it to understand the limitations and requirements.
How do no-deposit bonuses work?FAQ
Which broker gives free bonuses in South Africa?
Some of the best Forex brokers which give bonuses are RoboForex, InstaForex, and Tickmill.
Is a 12% bonus good?
The quality of a bonus depends on the terms and conditions attached to it. A 12% bonus may or may not be good depending on the requirements and restrictions associated with it.
How is bonus calculated in South Africa?
Bonus calculations vary by broker and can be based on a percentage of the initial deposit, trading volume, or other factors. It is important to carefully read the terms and conditions to understand how the bonus is calculated.
What does a 200% bonus mean?
A 200% bonus means that the trader will receive additional funds equivalent to twice the amount of their initial deposit. However, the bonus may come with certain requirements and restrictions that must be met before the bonus can be withdrawn.
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Team that worked on the article
Chinmay Soni is a financial analyst with more than 5 years of experience in working with stocks, Forex, derivatives, and other assets. As a founder of a boutique research firm and an active researcher, he covers various industries and fields, providing insights backed by statistical data. He is also an educator in the field of finance and technology.
As an author for Traders Union, he contributes his deep analytical insights on various topics, taking into account various aspects.
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.