Which broker gives a free bonus without a deposit?

What is a free Forex bonus?

A Forex bonus is a fixed or variable sum that the broker offers the trader for free so that he can utilize the capital for trading. To receive the bonus, registration and verification are required. If it is not required to deposit your cash, a no-deposit Forex bonus is offered. If required, it is a deposit bonus. The Forex welcome bonus is one of several types of deposit bonuses. Below, we will discuss the various forms of bonuses.

1. Welcome Forex Bonus

This bonus is provided to traders who make their first trade on the platform. Registration and verification are required (confirm personal data). After that, a minimum deposit must be made, and the bonus will be activated. It might be a set sum (such as $30) or a percentage of the amount deposited (such as 60% or 100%).

2. Forex no deposit bonus

This bonus may be a welcome bonus, although it often acts independently. It is unique because the trader can make a personal deposit to get more funds from the broker. Registration and verification are the only requirements. This form of bonus is advantageous but has its features and drawbacks.

3. Forex deposit bonus

This is the third most frequent type of bonus that traders receive when they deposit money into their accounts. Some brokers provide a fixed bonus, but a deposit percentage is more advantageous. For example, if a trader puts $100 into their account and the bonus is 100%, they will earn an extra $100, thus doubling their trading capital.

Best South African Brokers with free bonuses

The Traders Union has listed the top 5 South African brokers with free bonuses below:

RoboForex

RoboForex Review

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RoboForex is recognized as a reliable partner by the most respected professionals in the financial markets. The RoboForex group of enterprises holds an international license from FSC Belize.

RoboForex's Forex no deposit bonus in South Africa is regarded as one of the most profitable in the region by the vast majority of traders. Moreover, the welcome Forex bonus in South Africa that RoboForex offers its traders is considered beneficial.

RoboForex offers a $30 welcome bonus. You must register and verify your identity on the platform to receive this bonus. Moreover, you'll need to deposit the minimum funds into your account. Unfortunately, bonus funds cannot be withdrawn.

InstaForex

InstaForex Review

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Since 2007, InstaForex has been a global company offering services on the Forex exchange market. Today, more than seven million traders worldwide use this broker's services.

InstaForex provides clients access to 300 trading instruments, including PAMM Investment and the ForexCopy system, for copying successful traders' trades. The British Virgin Islands Financial Services Commission (FSC) regulates the company's operation in accordance with the Securities and Investment Business Act.

InstaForex provides traders with a $2,000 no-deposit bonus. To receive the bonus, register on the platform and verify your data. Unfortunately, the bonus cannot be withdrawn.

TeleTrade

TeleTrade Review

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TeleTrade was founded in 1994. The company won the 2018 Traders Union Award for Europe's Best Broker. The broker is a member of the Association of Forex Dealers, a financial sector self-regulatory body.

Additionally, the Cyprus Securities and Exchange Commission (CySEC) regulates the company.

Many currency pairs, commodities, stocks, cryptocurrencies, indexes, and energies can be traded through the broker.

TeleTrade provides its traders with a $1,000 welcome bonus. To qualify for this bonus, you must register on the platform, verify your identity, and make a minimum deposit. The bonus can grow to $1000 if the deposit grows to $1000. The bonus can be withdrawn if a specific trading volume is achieved.

FBS

FBS Review

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76.5% of retail accounts lose money when trading ᏟᖴᎠs with this provider.

FBS is a global broker that operates in 190 countries. Over a decade on the market, the brokerage firm has won about 40 international accolades. It is licensed by CySEC and offers flexible Forex trading conditions.

FBS lets traders trade not only traditional currency pairs, but also indices, futures contracts, exotic currencies, and commodities. The brand is particularly well-known in Asian nations, including India, Malaysia, and Indonesia.

FBS offers a no-deposit bonus of $70 to $140. To avail of the bonus, you must register on the platform and verify your identity. If you register through the site, you'll get a bonus of $70; if you register through an application, you'll get a $140 bonus. Unfortunately, the bonus cannot be withdrawn.

Tickmill

Tickmill Review

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Tickmill was established in 2015 and is a well-regulated ECN and STP broker situated in the United Kingdom, Cyprus, and Seychelles, with FCA, CySEC, FSA, and FSCA regulation and authorization.

Tickmill provides over 80 tradable financial instruments across many asset types. Traders can also choose from different retail accounts to find the one that fits their needs and goals bes

Tickmill offers a no-deposit bonus of $30. The trader must only register on the platform and verify personal data. However, on Tickmill, you cannot withdraw your free bonus.

How can I get a free bonus?

The Traders Union has listed tips to get a free bonus:

Step 1: Register on the platform

Register on the website of your preferred platform. Add your email address, first and last names, and phone number. Your email and phone number will be contacted for further confirmation. Check the boxes at the bottom to confirm your acceptance of the site's conditions, and then click the register button.

Step 2: Choose the account type

The system will create a real account for you. You can create any other account type. You'll need to create a real account if you want the welcome bonus. Once you've decided on an account type, click the confirm button to proceed.

Step 3: Verify your account

Registration alone is insufficient to receive a bonus or trade on the site. Personal information must be verified. To do this, select the "Verification" tab in the menu on the right, and then click the question mark icon.

The system will open the verification menu and present you with two options: evidence of identity or proof of address. In both cases, you will require scanned or photographed documents.

After sending the documents, you must wait until the verification is complete. You will get the no-deposit bonus after verification.

Step 4: Make a minimum deposit

To avail of the Forex welcome bonus or deposit bonus, you'll need to make a minimum deposit to your account.