Best Forex bonuses in Bangladesh
The best Forex no-deposit bonus in Bangladesh offers RoboForex
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RoboForex - best $30 No Deposit Bonus
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HFM - $35 No Deposit Bonus
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InstaForex - $1,000 No Deposit Bonus
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Admiral Markets - $100 No Deposit Bonus
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FBS - $140 No Deposit Bonus
Forex trading is increasingly becoming a favored investment avenue in Bangladesh. This article will guide you through understanding the best no-deposit bonuses offered by Forex brokers in Bangladesh and how to take advantage of them to make the most of your trading journey. We've compiled a list of the top 7 Forex brokers that provide the best bonuses in Bangladesh. The Traders Union meticulously curates this list after conducting a comprehensive review of these brokers, their services, and their benefits.
5 best Forex bonuses in Bangladesh
Traders Union has conducted an exhaustive review of the Forex brokers operating in Bangladesh that provide the best Forex bonuses. The following comparison table is a condensed version of this review. The table provides you with a snapshot of various brokers and their offerings, which will aid you in selecting the right broker aligning with your trading needs and goals.
| Broker’s name | Size | Conditions for obtaining | |
|---|---|---|---|
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$30 |
Assets for copy trading
To get a bonus from RoboForex: ● Open an account ● Verify the account ● Deposit at least 10 USD |
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$35 |
Assets for copy trading
You need to open a live account. You can only claim the bonus within 30 days from the day you registered for the account |
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$1,000 |
Assets for copy trading
● How to get IstaForex no deposit bonus: ● Open a new account using the promotional form online and fully verify it |
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$100 |
Assets for copy trading
They'll then need to verify their identity and country of residence. After that's done, the bonus of $100 will automatically be credited to their live trading account |
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$140 |
Assets for copy trading
Traders must first create a Level Up bonus account. Doing so gives you access to $70 in trading capital. To get $140, however, you must also download the FBS Personal Area app |
No deposit bonuses Forex in Bangladesh reviews
RoboForex
Established in 2009, RoboForex is a popular choice for both new and veteran traders. The broker offers traders a $30 no-deposit bonus, giving traders the opportunity to test out the platform’s services and get familiar with the Forex market before investing any of their own capital.
How to get the bonus
The first condition to receive the no-deposit bonus from RoboForex is to open a live account and verify it. Once the account has been verified, the trader must then deposit at least $10 into their trading account. Note that the bonus is available to every newly registered trader with a cent or standard account.
Can I withdraw profits?
Yes. RoboForex allows its traders to withdraw profits earned with the no-deposit bonus. The account even lets you withdraw the $10 initial deposit, as its purpose is only to verify the trader’s payment method.
HFM
HFM's $35 no-deposit bonus is a great way for new clients to jumpstart their trading journey. This is an exciting opportunity for new clients of HFM.
How to get the bonus
To start, simply register a new account with HFM and verify your KYC documents, then open any one of the eligible trading accounts, including MT4 cents, MT4 micro, or MT4 Premium. Once you've registered, you must click on "Yes, I want a bonus" and will have 30 days to claim it.
Can I withdraw profits?
Yes. When you are ready to withdraw profits, you must have completed at least 5 trades and reached a volume of 0.5 lots. Only currency pairs, gold or silver, qualify for this bonus. Your bonus might also be deducted based on the percentage amount you withdraw.
InstaForex
InstaForex offers a generous $1000 start-up bonus to new customers. With such a large amount of capital, traders can get a head start on their trading careers.
How to get the bonus
InstaForex has an online promotional form where traders can sign up for a new account. They then need to verify the account fully, including email and phone number. Once the account has been verified, a bonus of $1000 will be credited to it.
Can I withdraw profits?
Yes. InstaForex allows traders to withdraw profits earned using the bonus funds, but they can't withdraw the bonus itself. You must trade the equivalent of three standard forex lots to be eligible to withdraw any profits earned using the bonus. Note that InstaForex may also ask you to replenish your account with actual funds in certain cases.
Admiral Markets
With over 20 years of experience, Admiral Markets is among the most reliable Forex brokers in the market. New clients can take advantage of their $100 no-deposit bonus, which gives them access to a live trading account with real funds without having to make any initial deposit.
How to get the bonus
To start trading with the Admiral Markets no-deposit bonus, new clients must first create an account. They'll then need to verify their identity and country of residence. After that's done, the bonus of $100 will automatically be credited to their live trading account.
Can I withdraw profits?
While you can only use the $100 to trade - the bonus itself can’t be withdrawn - any profits earned with the bonus can be withdrawn. However, traders must trade a notional value amount using their own funds to be able to withdraw the profits. Note that trades with a duration of fewer than three minutes are excluded from the notional value calculation.
FBS
The brand new FBS $140 Level Up no-deposit bonus is a unique offer that rewards new clients with up to $140 in trading capital. Traders also need to make no initial deposit to receive the bonus, making trading with this platform highly accessible to everyone.
How to get the bonus
To receive the FBS no-deposit bonus, traders must first create a Level Up bonus account. Doing so gives you access to $70 in trading capital. To get $140, however, you must also download the FBS Personal Area app.
Can I withdraw profits?
Yes, traders are allowed to withdraw any profits gained with this bonus as long as certain conditions are met. For instance, traders have to trade the equivalent of five standard lots within 30 days.
Best Forex welcome bonuses in Bangladesh
Traders Union highlighted some best Forex brokers in Bangladesh with no deposit bonus 2023.
RoboForex
Established in 2009, RoboForex has rapidly gained popularity among novice and veteran traders alike. This broker sets itself apart by offering a $30 no-deposit bonus. This bonus is a fantastic opportunity for traders to test the platform's services and familiarize themselves with the forex market before investing their capital.
Forex4You
In the forex trading world, Forex4You has been a renowned name since 2007. The company offers extensive active and passive trading services in the Forex market. Based in the British Virgin Islands and regulated by BVI FSC (license number SIBA/L/12/1027), Forex4You boasts an impressive record of responsibility and professionalism. They received the prestigious "Best Broker" award by Le Fonti in 2018 and have consistently won and received nominations for awards, including "Forex Broker of the Year" and "Best Service Quality".
TeleTrade
Established in 1994, TeleTrade has been a leading Forex broker for nearly three decades. It won the coveted 2018 Traders Union Awards as the Best Broker in Europe. The brokerage company is a member of the Association of Forex Dealers, a self-regulatory organization in the financial market. Furthermore, it is regulated by the Cyprus Securities and Exchange Commission (CySEC). TeleTrade provides access to trading various currency pairs and metals, stocks, cryptocurrencies, indices, and energies.
What is a Forex bonus?
Brokerage companies use Forex bonuses as promotional offers to attract new traders. The Forex bonus is either a fixed amount or a percentage of the initial deposit, and traders are usually allowed to access it as soon as they open an account, make a deposit, or start trading.
Forex bonuses pros and cons
👍 Pros
• Additional capital increases profit potential
• In case of no deposit bonus, a trader can test the broker’s conditions without spending their own money and risk free
👎 Cons
• Tough conditions for getting the bonus
• The amount of no deposit bonus is often quite modest – $5-$100
• Overtrading due to the necessity to meet the conditions of the bonus program
Rules and Regulation
Regulation (licensing) in Bangladesh
The primary regulatory body overseeing Forex activities in Bangladesh is the Bangladesh Bank, the central bank of the country. Established in 1971, Bangladesh Bank regulates and supervises the financial sector, including foreign exchange transactions. Its regulatory responsibilities cover a wide range of areas, including monetary policy formulation, currency issuance, and management of foreign exchange reserves. Bangladesh Bank plays a crucial role in maintaining stability in the Forex market by implementing policies to control exchange rate fluctuations and ensuring compliance with relevant regulations.
Requirements for the company to be licensed in Bangladesh:
- maintain a specified minimum capital threshold.
- appointment of compliance officers to monitor regulatory adherence.
- implementation of stringent protocols to prevent money laundering.
- submission of detailed plans and statements for regulatory scrutiny.
- mandatory registration with relevant authorities to promote transparency.
Investor protection in Bangladesh
The following bodies provide investor protection in Bangladesh and stand for market transparency and investor interests:
- Bangladesh Bank — Regulatory oversight of Forex activities.
- Securities and Exchange Commission of Bangladesh (SEC) — Ensures fair trading practices.
- Financial Reporting Council (FRC) — Ensures transparency in financial reporting.
- Bangladesh Securities and Exchange Commission (BSEC) — Regulates securities market operations.
- Investor Education and Protection Fund (IEPF) — Educates and protects investor interests.
These bodies protect Forex investors in Bangladesh through regulatory measures, enforcement of laws, monitoring market activities, ensuring transparency, and providing education and awareness programs to investors.
Forex Taxation in Bangladesh
Forex taxation in Bangladesh is governed by the National Board of Revenue (NBR). Generally, income from Forex trading is subject to taxation under the Income Tax Ordinance. Traders are required to report their Forex income accurately, and tax rates vary based on the individual's tax bracket. Additionally, withholding tax may apply to certain transactions. The NBR periodically updates tax regulations, and compliance is essential to avoid penalties.
Is Forex halal or haram?
Forex trading, often associated with interest (riba) and gambling (maysir), has been debated by many scholars in terms of its permissibility in Islam. Both these activities are forbidden (haram) according to the Holy Qur'an. However, it is notable that not all Forex trading accounts involve these prohibited activities.
Muslim Forex accounts, for instance, do not involve interest. Moreover, many scholars agree that exchanging currencies on a spot basis is permissible (halal) as it minimizes the element of riba. Given these aspects, a consensus has been reached among many Islamic scholars that Forex trading can be considered halal, provided it adheres to specific rules and conditions.
Can I withdraw profit from the no-deposit bonus?
Yes, profits from a no-deposit bonus can generally be withdrawn. However, withdrawable no-deposit bonus conditions depend on the specific broker and their respective terms and conditions related to the no-deposit bonus. All brokers offering such promotions should provide clear guidelines on withdrawing profits derived from the bonus. Reading and understanding these terms and conditions is crucial before claiming any bonus.
How to choose a Forex bonus in Bangladesh?
There are many online investment sites in Bangladesh. When selecting a Forex broker offering a no-deposit bonus, it's essential to keep the following considerations in mind:
Regulation:
The first thing to ascertain is whether a reputable regulatory body oversees your chosen broker. Regulatory bodies such as the Financial Conduct Authority (FCA) in the UK or the Securities and Exchange Commission (SEC) in the US are considered highly credible. They enforce strict rules and standards to protect traders' interests and ensure fair trading practices. A regulated broker provides a sense of security, knowing that they adhere to strict regulatory guidelines and offer a clear dispute resolution process
Reputation:
In the digital age, one of the best ways to assess a broker's reliability is by checking their online reputation. This can be done by reading through user reviews, discussion forums, and social media platforms to gather a sense of the broker's standing in the Forex trading community. Feedback from other traders can provide insights into the broker's customer service quality, platform reliability, and overall trustworthiness
Trading Conditions:
The broker's trading conditions are another crucial factor to consider. These include the types of trading accounts they offer (standard, mini, micro, etc.), the range of tradable financial instruments (currency pairs, commodities, indices, etc.), and their policies regarding spreads and leverage. Some brokers might offer very tight spreads but charge higher commissions, while others might provide a broader range of tradable instruments but with higher spreads. Understanding these conditions and how they align with your trading style and goals is key to long-term success
Withdrawal Terms:
The terms and conditions associated with the no-deposit bonus, especially the clauses pertaining to profit withdrawal, should be thoroughly understood. Brokers often have specific requirements that must be met before you can withdraw any profits made from the bonus. These include a minimum number of trades, a specified trading volume, or maintaining a certain account balance. Be sure to read these terms carefully to avoid any unpleasant surprises later
Customer Support:
Lastly, reliable customer support is essential, especially for new traders or in case of any technical glitches or queries. An ideal broker offers prompt and courteous customer support through multiple channels, such as live chat, email, and phone calls. Some brokers also provide support in multiple languages, which can be a significant advantage for non-English-speaking traders
FAQs
Which Forex broker gives a free bonus without a deposit in Bangladesh?
The Forex broker that offers a free bonus without requiring a deposit in Bangladesh is Admiral Markets. They provide this bonus to encourage new traders and allow them to test their platform without initial financial commitment.
Can I withdraw profit from the no-deposit bonus?
Yes, you can withdraw profit from the no-deposit bonus, but it's contingent on fulfilling the specific requirements set by the broker. These conditions can vary and often involve achieving a certain trading volume or number of trades, so it's crucial to understand the terms and conditions before claiming any bonus.
Which broker has the highest bonus in Bangladesh?
InstaForex is the broker that provides the highest bonus in Bangladesh. They offer a substantial no-deposit bonus to attract and accommodate traders, helping them start their Forex trading journey.
Which broker has the best no-deposit bonus in Bangladesh?
InstaForex provides the best no-deposit bonus in Bangladesh. Their generous bonus and user-friendly platform make them a popular choice among traders in the country.
Team that worked on the article
Alamin Morshed is a contributor at Traders Union. He specializes in writing articles for businesses who want to improve their Google search rankings to compete with their competition.
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).