Forex trading is popular in the Philippines, as it allows traders to grow their capital with minimum investment. Anybody can trade, all you need to do is to learn the basics of fundamental and technical analysis. It is true that Forex trading carries high risks, but they can be reduced by complying with the rules of money management and diversifying your investment portfolio.

Brokers with a no-deposit bonus are particularly in demand, as they provide traders with real money for trading. As a rule, this money cannot be withdrawn, and you also have to fulfill certain conditions in order to receive it. There are also Forex brokers with a welcome bonus that is awarded only once you’ve made a deposit (not necessarily the first one).

In this article, we will review brokers with no-deposit bonuses (2023) that are the best to work with in the Philippines, and will also discuss welcome bonuses and the platforms that offer them. The comparative table of brokers and commentaries of experts on the types of bonuses will help you make a decision. It is important, as the right choice of the platform largely determines the success of Forex trading.

What is a Forex bonus?

Forex bonus is a fixed or dynamic amount, which the broker grants free of charge to the trader, so that he could use these funds in trading. In order to receive the bonus, you need to register and verify. If it is not necessary to deposit your own funds, the provision of a no deposit bonus Forex is implied. If it is necessary — a deposit bonus. There are many types of deposit bonuses, one of them — Forex welcome bonus. This bonus can only be received by users who have registered on the platform for the first time. Now we will take a closer look at the different types of incentives.

Forex welcome bonus

This bonus is given to a trader who trades on the site for the first time. It is necessary to register and verify (confirm personal data). After that it is required to make the minimum deposit and activate the bonus. It can be fixed (for example, $30) or expressed as a percentage of the deposited amount (for example, 60% or 120%).

No deposit bonus Forex

This bonus can be a welcome bonus, but more often it acts as an independent bonus. Its peculiarity is that in order to receive additional funds from the broker, the trader does not need to make a deposit of personal funds. Only registration and verification are required. This type of bonus is profitable, but it also has its own features and disadvantages.

Forex bonus on deposit

This is the third most popular type of bonus, which is awarded to traders, when they deposit funds to their account. Some brokers have a fixed bonus, but it is more profitable when it is a percentage of the deposit. For example, a trader deposits $100 into the account, and the bonus is 100%, then the user receives an additional $100, effectively doubling the funds available for trading.

Rules and Regulation

• Licensing in the Philippines

  Forex brokers operating in the Philippines are required to obtain licenses from the Securities and Exchange Commission (SEC) or the Bangko Sentral ng Pilipinas (BSP), depending on the nature of their business activities.

• Investor protection in the Philippines

  The SEC and the BSP have implemented various measures to protect Forex investors in the Philippines:

  • disclosure requirements

  • client fund protection

  • regulatory oversight

• Taxation in the Philippines

  Capital gains tax rates in the Philippines vary depending on the type of asset and the holding period. The tax rates applied to capital gains from the sale or exchange of capital assets:

  • for gains from the sale of shares of stock not traded on the stock exchange and other capital assets not otherwise covered, a final tax rate is 5% of the net capital gains.

  • for gains from the sale of shares of stock traded on the stock exchange and other similar transactions, a final tax rate is 0.60% of the gross selling price or gross value in money of the shares of stock sold, exchanged, or transferred.

  • for gains from the sale of real property classified as capital assets, a final tax rate is 6% of the gross selling price or fair market value, whichever is higher.

  • it's important to note that tax rates and regulations may be subject to change, so it's advisable to consult with tax authorities or financial professionals for the most up-to-date information.

9 best no-deposit bonuses in the Philippines

Forex brokers with a welcome bonus provide funds to new traders, which they can use to trade. As a rule, a welcome bonus is awarded only in case a trader makes a deposit (minimum or a specified amount). If the broker gives a bonus without the deposit, it is called a no-deposit bonus ( AvaTrade, RoboForex, XM – many platforms offer this type of incentive).

No-deposit bonuses are naturally more popular than welcome bonuses, because they provide an opportunity to start trading without depositing your own funds. Of course, it is usually not a very big amount, but sufficient to test the features of the platform and even make some good money (especially if you trade with leverage). The table below shows the best Forex no-deposit bonuses in the Philippines, and also the best welcome bonuses.

RoboForex – Best no-deposit bonus in the Philippines

Traders Union experts assessed the bonuses offered by RoboForex as the most beneficial ones for the residents of the Philippines. These bonuses are rather easy to receive; they are substantial and can be used in standard trading. RoboForex offers several types of incentives and we will discuss each of them in detail below.

Deposit bonus

Many RoboForex clients believe this bonus to be the best Forex bonus. The reason is that you can receive it an unlimited number of times. All you need to do is deposit at least USD 10 to your account and activate the bonus option. In this case, you will receive a 120% bonus to your deposited amount. Moreover, this deposit can be withdrawn! However, you have to comply with certain conditions for that, for example reaching a specified trading volume. The money you earn by using this bonus can be freely withdrawn and used without restrictions.

Welcome bonus

The conditions for receiving a welcome bonus are as follows. If you deposit the minimum amount of USD 10, you receive a USD 30 bonus, which is rather substantial (x3 in addition to the minimum deposit). The bonus is available only once, when you make the first deposit on your trading account. You cannot withdraw the bonus, but you can use the funds without restrictions on the platform, investing in any available options. This is a good advantage at the start.

Profit share bonus

These conditions are rare for Forex brokers with a welcome bonus. The thing is that in order to receive this bonus, all you need is to make the minimum deposit and choose the bonus option. Together with the deposited funds, you will additionally receive 60% of the amount. It seems that this is nothing special, as other platforms also offer similar opportunities. However, in this case, you can use the bonus funds without any limitations, even withdraw them. The other feature is that like a deposit bonus, you can receive this bonus more than once.

How to receive Forex Welcome Bonus from RoboForex ($30) in the Philippines

We have already explained that this is a rather sizable bonus. You receive USD 30 for free. It is true that you cannot withdraw these funds, but this is not what they are for. If you made the minimum deposit of USD 10, then together with the bonus you will have USD 40 in your account. This is enough not only to learn everything about RoboForex, but also to earn a good initial capital you can use to make big investments in the future. Below we will explain in detail how to receive the USD 30 bonus from this Forex broker with a welcome bonus.

Step 1

Open any browser and go to the official RoboForex website. In the top right corner, click Open an account. Provide your E-mail, First Name, Last Name and Mobile phone. You must only use your real e-mail and phone, because they will be used to confirm information. Then tick all the boxes agreeing with the terms and conditions of the platform. Note that for some regions registration is not available. If you have the affiliate code, enter it and the user who invited you will receive a referral bonus.

Step 2

After you enter the information and click Register, the system will redirect you to your profile. The first account is created automatically; it is a standard MT4 and ECN account. Before continuing, go to your email and open a letter from RoboForex. Click on the link in the letter to confirm your email and link it to your account. Next, go back to the website and click My Profile in the top right corner of the screen. You will see information about your account with the lines Phone and Verification. Next to each of the lines you will see the question sign. Click on one question first and then on the other. Follow the instructions on the screen: you need to link your mobile phone to your account and verify your identity by sending a scanned copy of your identity document.

Step 3

Once you’ve passed verification, go back to My Profile and click Wallet, choose the account that was created automatically during registration and click Deposit Funds. You can use any available option to make a deposit: a credit card, an electronic payment system, an electronic wallet. Note that you can create a new account, if you are not happy with the conditions of the standard account (in the majority of cases, this is the way to go). In your wallet’s menu, choose Open account. You can specify the conditions yourself: trading platform, account type, currency (you can change it later), leverage, etc. You can also open a demo account here.

Step 4

Once you’ve opened a new account, select it in your Wallet’s menu and click Deposit Funds. Choose the deposit method, enter the amount and review the conditions on the screen. When depositing funds, at the bottom of the menu, you can choose the bonus type: 60% or 120%. However, if you are funding your account for at least USD 10 and want to receive the $30 bonus, you need to check the No Bonus box. Note that this bonus can be received only if you use the following deposit methods: China UnionPay, Maestro, MasterCard and VISA cards. Also not that the bonus is provided for Pro and ProCent accounts.

Can I withdraw my Forex no-deposit bonus in the Philippines?

• RoboForex is a Forex broker with a welcome bonus that cannot be withdrawn from the account (the $30 bonus). There is also another nuance: the $30 cannot be used during a drawdown. The funds can be fully used for all other trading transactions. Keep in mind these specific features of the bonus in order to use it with the greatest benefit, eliminating unexpected situations.

• You also cannot withdraw the 120% bonus. The bonus funds are used for trading with minimum restrictions, and there are some limits for the profit earned by using these funds. There is a formula to determine the limits: (The profit available for withdrawal) = (Free Margin) - (The total sum of all active Bonuses) - (The total sum of the deposits, which received Bonuses). However, you will not be able to withdraw the deposit, for which you received the 120% bonus, unless the withdrawal amount is determined based on another formula: (Number of lots) = (The Bonus sum in USD) / 2.

• The 60% bonus is smaller, but more universal. Firstly, it can be received more than once unlike the 120% bonus. Secondly, it can be used for trading without limitations (including during drawdown). You can withdraw the entire profit you earned by using bonus funds without any limits or restrictions. The bonus can also be withdrawn, but only in correspondence with the above formula: (Number of lots) = (The Bonus sum in USD) / 2.

Top 3 Best Forex Brokers with a Welcome Bonus in the Philippines

RoboForex

RoboForex Review

Open an account

Your capital is at risk.

RoboForex is the top ranked broker with the no-deposit bonus in 2023, according to experts and traders. More specifically, this applies to the Profit Share bonus. In order to receive it, you need to register, pass verification and make any deposit from USD 10. When you are making your deposit, you need to choose the 60% Bonus option. The amount of your deposit plus 60% incentive from your broker will be credited to your account. The bonus amount cannot exceed USD 50,000.

The money can be withdrawn to an external wallet, but under the condition that you reach the required trading volume, which is calculated by the following formula: (Number of lots) = (The Bonus sum in USD) / 2. Note that only the account on which the bonus was received is taken into consideration (you may have other accounts, but they will not be included in the calculation).

XM Group

XM Group Review

Open an account

Your capital is at risk.

The bonus provided by XM also enjoys high popularity among Forex no-deposit bonuses in the Philippines. In order to receive it, you need to register and verify your account (an SMS with the confirmation code will be sent to your mobile phone and you will need to enter it on the confirmation page in the account settings). This bonus does not require full verification with provision of scanned copies of your documents.

Note that the bonus amount is fixed at USD 30. You can only receive the bonus to a real account. As for the withdrawal, you cannot withdraw the bonus, but you can withdraw the profit you earned while using it. However, for that, the overall trading volume in your account must be 0.5 lots or more.

AMarkets

AMarkets Review

Open an account

Your capital is at risk.

AMarkets no-deposit bonus is one of the most popular bonuses and not only because of the broker’s popularity, but also because your deposit doubles thanks to the bonus. There are two things to consider here. The first one is that you can receive this bonus for any deposit, not necessarily the first one. And the second one is that in order for the bonus to be credited to your account, you must contact the broker’s customer support service. The bonus cannot be postponed ‘until better times’, because it will be automatically annulled if not used within thirty days of being credited to the trader’s account. The bonus cannot be withdrawn under any circumstances. However, it is possible to withdraw the profit earned by using the bonus. In order to calculate the amount available for withdrawal, use the following formula: “Bonus Amount: divided by USD 3.

How to choose the best Forex no-deposit bonus in the Philippines?

Tip 1

Regardless of which bonus you choose – a no-deposit or a welcome one (which means making a deposit), consider that the benefits of any additional funds are limited by the conditions of their use and withdrawal. Many bonuses cannot be withdrawn, while for others you have to meet certain trading volume requirements. In a number of cases, you won’t even be able to withdraw the profit earned by using the Forex no-deposit bonus, if you don’t meet the trading volume requirements.

Tip 2

The majority of brokers offer several types of bonuses, for example one no-deposit and several ‘profit share’ bonuses. Bonuses are not cumulative. Therefore, take your time to choose the one you want: reach the conditions for each bonus carefully and consider which one would be the best for your first deposit, and which – for the second and all other deposits. It may not be beneficial to activate some of the Forex bonuses in the Philippines right during registration.

Tip 3

All brokers use marketing tools to attract clients. They do not lie, but the information on the homepage of the website and on the ad banner is not always complete. This largely applies to bonuses. In order to understand the benefits of a bonus fully, do not rely on limited information. Go to the broker’s website, find the section dedicated to bonuses and incentives, and closely review all conditions, including the withdrawal limitations.

Tip 4

When we discussed Forex brokers with a welcome bonus above, we did not consider the location where a trader is registered. This information is usually not mentioned in the ads and on the homepage of the broker’s website. This is actually a critical issue, because the absolute majority of brokers have regional restrictions on awarding bonuses due to foreign and domestic policies of the country. Look closely for information about such restrictions to avoid a situation, when you’ve registered, verified your account, made a deposit, but did not receive the bonus due to your lack of attention.

Tip 5

Clearly, you cannot choose the best, most beneficial Forex no-deposit bonuses in the Philippines without scrupulously studying the issue. Strictly speaking, this is the main topic of this article. Therefore, you certainly can spend hours and days learning detailed information about the platforms that seem the most attractive to you. Or, you can choose a simpler path by going to the Traders Union website and checking our rating. Our experts have already assessed and compared the platforms using over 120 statistical and dynamic indicators, and identified the best.

Conclusions

Despite all the nuances of receiving and withdrawing them, Forex No-Deposit Bonuses in the Philippines, just like welcome bonuses, could be exceptionally beneficial, especially for beginners. It is true that in the majority of cases, a full verification is required and you need to trade actively and a lot in order to be able to withdraw the bonus and the profit earned by using it. However, you also need to understand that a broker provides you with a considerable amount for free and you can use it in trading as you wish.

Even if you cannot withdraw the bonus itself, it still gives your advantages. For example, let’s take the RoboForex 120% Welcome Bonus. You deposit $100 and additionally receive $120 absolutely for free. You won’t be able to withdraw the $120, and in order to withdraw the profit earned by using the bonus, you will have to trade a lot. However, your deposit more than doubles! This means that the profit potential also increases. It is only fair of the broker to request at least something from you in return for this unique opportunity. And all the broker asks is to choose its platform.

Be that as it may, you cannot choose a Forex broker solely for its welcome bonus. You need to consider all conditions of working on the platform, including the number of trading instruments, the fees and passive income options. You also need to be smart about choosing the bonuses, and study all the conditions and limitations. It is better to accept some bonuses with your first deposit, and others – with the subsequent deposits. However, if you are a TU member, it won’t be hard for you to make the right choice.

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Team that worked on the article

Oleg Tkachenko

Author and expert at Traders Union

Oleg Tkachenko is an economic analyst and risk manager having more than 14 years of experience in working with systemically important banks, investment companies, and analytical platforms. He has been a Traders Union analyst since 2018. His primary specialties are analysis and prediction of price tendencies in the Forex, stock, commodity, and cryptocurrency markets, as well as the development of trading strategies and individual risk management systems. He also analyzes nonstandard investing markets and studies trading psychology.

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Dr. BJ Johnson

Developmental English Editor

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

Cryptocurrency and stock expert

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).