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8 Best Forex NO DEPOSIT Bonus in South Africa (☑️ Updated 2021)


Best Forex No Deposit Bonus

 

Below you will find a comprehensive list of some of the Best Forex Welcome NO DEPOSIT Bonus in the trading market, according to research in South Africa. (Updated 10 October 2021)

Updated 10 October 2021*

 

8 Best Forex No Deposit Bonuses in South Africa (2021)

 

PS: We update our list on a monthly basis giving you the best sign-up rewards for your 1st trade.

 

8 Best Forex No Deposit Bonuses for South Africans

 

Start your trading wallet in a positive.

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Not keen to read? Watch our 5 min video on the best forex no deposit bonuses for 2021 🙂

 

 

Overview

 

Forex trading has seen increased popularity with an influx of new traders in recent years. Brokers have benefited from the increase in traders and trading volume, and they have taken advantage of increased interest by offering more bonuses to traders.

 

One of the best forex bonuses that brokers offer these days is a welcome no-deposit bonus that is offered to new traders who register a live trading account. This no-deposit bonus is a cash award that is paid into the trading account as trading credit.

 

The no-deposit bonus is offered to traders regardless of whether they have paid a minimum deposit, giving them access to free funding that they can use to start trading before they use their actual capital.

 

The no-deposit bonus shares some similarities with other bonuses, like a deposit bonus. However, the distinct difference is that a minimum deposit is not required to qualify for the no-deposit bonus.

 

The similarities that the no-deposit bonus share with other initial bonuses include:

  • The bonus is deposited into the live trading account as credit and not actual cash.
  • The bonus can be used for trading activities in the place of capital.
  • The bonus is not withdrawable from the account until the trader has fulfilled certain criteria like trade volume requirements, number of lots, or if the trader has made a certain amount of profit.

 

No-deposit bonuses are not as significant as deposit bonuses and they are not presented in percentages. No-deposit bonuses can range from $10 (150 ZAR) up to $200 (3,000 ZAR), subject to the broker’s discretion.

 

No-deposit bonuses are helpful for beginner traders who have just registered a live trading account. It gives a risk-free introduction into live market conditions before traders start using their capital.

 

Tickmill

 

 

Overview

Tickmill is a well-regulated, large STP and ECN broker that is based in the United Kingdom, Cyprus, and Seychelles. Tickmill has the necessary regulation and authorization to provide services to traders from around the world.

 

With Tickmill, traders are given access to over 80 financial instruments that can be traded. Traders are also given the benefit of a no-deposit bonus to get them started in their trading journey with the broker.

 

There is a wide range of useful trading tools that can be used, a choice in flexible account types, and competitive trading conditions, making sure that traders have a competitive edge to their trading.

 

Pros and Cons

✔️Pros ❌Cons
Commission-free trading Crypto trading is not supported
Wide range of tradable assets Fixed spread not offered
Advanced trading tools offered
Powerful and reliable trading platforms
Competitive trading conditions

 

 

Features

🔶 Feature ℹ️ Information
Minimum deal size $1
Free demo account Yes
Built-in economic calendar Yes
Min. expiry time 10 seconds
Max. pay-out percentage Up to 83%
Customer support 24/7 support

 

Hotforex

 

 

Overview

HotForex is enjoying growing success among global retail traders mainly because of its willingness to listen to clients, which led to them revamping its customer service platform.

 

This revamp enabled the company to receive a ton of awards from several recognized institutions from Europe, Asia, Africa, and the Middle East.HotForex is also one of the few brokers that have multiple regulatory statuses throughout the world, according to research in South Africa

 

Pros and Cons

✔️ Pros 🔴 Cons
✔️ Low deposit requirement for new traders with Micro accounts 🔴 Limited range of instruments
✔️ Lots of premium trader tools available 🔴 Account opening not the easiest
✔️ Good customer support 🔴 US clients not accepted

 

Features

✔️ Features 🟣 Prices
✔️ Minimum Initial deposit to start trading 🟣 $5
✔️ Average spread EUR/USD – active 🟣 1.2
✔️VIP or active trader discounts 🟣 Yes – Rewards Loyalty Programme

 

FBS

 

 

Overview

FBS is a well-known and well-established ECN and STP broker that offers some of the best and most comprehensive trading solutions to traders from around the world. FBS offers more than 75 trading instruments that can be traded through the powerful and popular MetaTrader 4 and MetaTrader 5.

 

FBS offers its traders a wide range of trading tools, market analysis, technical analysis, fundamental analysis, and educational tools and materials. FBS is also known for offering a wide range of bonuses and promotions, including the benefit of a no-deposit welcome bonus.

 

Traders can also expect access to a plethora of social trading opportunities, and a choice between dynamic and flexible account types.

 

Pros and Cons

✔️Pros ❌Cons
Well-regulated Limited tradable instruments offered
Ultra-low minimum deposit requirement Limited choice in trading platforms
Social trading offered Spread are high on some accounts
A choice between different account types
Competitive commissions

 

Features

🔶 Feature ℹ️ Information
Regulation IFSC, CySEC
Minimum deposit from $1 (15 ZAR)
Average spread from 0.0 pips
Commissions from $6 (90 ZAR)
Deposit/Withdrawal Fees Yes
Maximum Leverage 1:3000
Bonuses Yes
Customer Support 24/7

 

XM

 

 

Overview

XM is a multi-award-winning forex and CFD broker and one of the largest brokerage firms by trading volume and customer base. XM has over 2.5 registered traders from 196 countries worldwide, making it one of the most sought-after forex and CFD providers in the industry.

 

XM is well-known for its flexible and tailormade solutions that suit both beginners and professional traders despite their trading style and trading strategies. Traders can expect a choice in account types, no requotes, tight and competitive spreads, fast and reliable trade execution, and the provision of a useful no-deposit bonus to get traders started.

 

Pros and Cons

✔️Pros ❌Cons
Well-regulated by several entities Fixed spreads are not offered
Negative balance protection applied to retail accounts
Competitive trading conditions with tight spreads and low commissions
Choice in a variety of trading accounts

 

Features

🔶 Feature ℹ️ Information
Regulation FCA
Minimum deposit from $5 (75 ZAR)
Average spread from 0.0 pips
Commissions from $1 (15 ZAR)
Deposit/Withdrawal Fees None
Maximum Leverage 1:888
Bonuses Yes
Customer Support 24/5

 

NAGA Trader

 

 

Overview

NAGA Trader has an exceptionally good reputation where stock trading is concerned along with that of CFDs and forex, with the platform recently having entered the cryptocurrency niche, which has given investors access to a wide range of tradable assets.

 

 

NAGA Trader offers a wide range of charting tools, AI-based algorithms, and several other comprehensive trading solutions that cater for different traders and investors, depending on their unique trading needs and objectives.

 

When traders and investors register a trading account with NAGA Trader, they will receive a no-deposit bonus that is credited to their trading account. This trading credit can be used to trade across different financial instruments, granting traders the chance to harness the potential that financial markets offer.

 

Pros and Cons

✔️Pros ❌Cons
Investors Compensation Fund Member Low site traffic
Range of user-friendly platforms Only supports 11 cryptocurrencies
Range of deposit and withdrawal methods Small withdrawal fee charged
Wide range of tradable instruments Web-based trading platform may not attract professional traders

 

 

Features

🔶 Feature ℹ️ Information
Regulation CySEC
Minimum deposit from $30 (450 ZAR)
Average spread from None
Commissions from 0.20% on Equities and ETFs
Deposit/Withdrawal Fees Yes
Maximum Leverage 1:200
Bonuses Yes
Customer Support 24/5

 

InstaForex

 

 

Overview

Established in 2007, InstaForex is a well-regulated and reputable broker that offers more than 300 financial instruments that can be traded across several asset classes. InstaForex has won multiple industry awards for excellent and comprehensive trading services.

 

InstaForex offers new traders the benefit of a no-deposit bonus when they register a live trading account. Traders are given $1,000 non-withdrawable trading credit that they can use to start exploring the different financial markets risk-free.

 

Pros and Cons

✔️Pros ❌Cons
Commission-free trading offered EU-clients restricted on leverage
MetaTrader 4 and 5 offered US clients not allowed
Variety of account types offered
Variety of financial instruments
Well-regulated by several entities

 

Features

🔶 Feature ℹ️ Information
Regulation CySEC, BVI, SVGFSA
Minimum deposit from $1 (15 ZAR)
Average spread from 0.0 pips
Commissions from 0.03%
Deposit/Withdrawal Fees None
Maximum Leverage 1:1000
Bonuses Yes
Customer Support 24/5

 

AM Broker

 

 

Overview

AM Broker is an offshore broker that is based in Saint Vincent and the Grenadines. AM Broker has been in operation since 2018 and offers a wide range of tradable financial instruments spread across several asset classes including forex, commodities, indices, shares, and funds.

 

 

When traders register a live trading account with AM Broker, they are given a $50 (750 ZAR) no-deposit bonus to start trading.

 

Pros and Cons

✔️Pros ❌Cons
Three account types to choose from Limited account funding options
Competitive trading conditions offered EU and US clients are not accepted
Trading tools offered Only one type of retail account offered
Education provided

 

Features

🔶 Feature ℹ️ Information
Regulation FSA SVG
Minimum deposit from $1,000 (15,000 ZAR)
Average spread from 0.0 pips
Commissions from 0.01 USD
Deposit/Withdrawal Fees None
Maximum Leverage 1:5000
Bonuses Yes
Customer Support 24/7

 

SuperForex

 

 

Overview

SuperForex is a Belize-based ECN and STP broker that has regulation and authorization through IFSC in facilitating the trade of a variety of financial instruments. SuperForex offers retail traders ideal trading conditions that include fixed as well as variable spreads, commission-free trading, and a wide range of trading opportunities for both beginners and professionals.

 

Another added advantage is that SuperForex offers a no-deposit bonus, access to over 300 tradable instruments that are spread across several asset classes, and access to MetaTrader 4, through which trades can be executed seamlessly.

 

Pros and Cons

✔️Pros ❌Cons
Regulated Offshore regulation
Social trading supported Only one trading platform supported
MetaTrader 4 supported Spreads are not the tightest in the industry
Managed accounts offered
Choice in retail trading accounts

 

 

Features

🔶 Feature ℹ️ Information
Regulation IFSC
Minimum deposit from $1 (15 ZAR)
Average spread from Variable
Commissions from None
Deposit/Withdrawal Fees Yes
Maximum Leverage 1:1000
Bonuses Yes
Customer Support 24/5

 

How to Choose the Right Bonus Broker for You

 

When choosing the best broker in South Africa that offers no deposit bonuses, a trader needs to look at several different factors.

Following is a short summary of the most important factors to be considered.

 

Regulation

 

One of the most important things to consider when choosing a bonus broker is to ascertain whether it is regulated and by which authority. All of the brokers already highlighted, apart from TemplerFX, are licensed and regulated by top reputable governmental agencies, like the UK’s Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (SySEC), the Financial Sector Conduct Authority (FSCA) in South Africa, and the Australian Securities and Investments Commission (ASIC).

 

Bonus Size and Rules

 

Next to regulation, the size of the bonus offered can be a decisive factor. Most brokers usually offer only a small bonus to persuade potential traders to join them and to enable them to experiment with the platform risk-free. Some brokers like Libertex however may offer much larger bonuses – even up to $10,000 in bonus funds for which you can qualify.

 

 

Traders should also make sure that they properly study the rules on how to benefit from the promised bonus. A no deposit bonus broker enables a trader to get the funds by just signing up and verifying his identity where other bonus brokers may expect from a trader to first make a minimum deposit, and only release bonus funds after a certain number of trades.

 

Often the size of a bonus may also be linked to a trading volume or initial deposit.

 

Tradable Assets

 

Before choosing a bonus broker in South Africa a trader should also consider the types of assets you can trade with a specific broker. While no deposit bonuses are popular among forex brokers, but many of the highlighted brokers also offer shares, commodities, indices, and cryptocurrencies to trade. AvaTrade also enables forex options trading, which is offered by few other bonus brokers.

 

First deliberate what instrument you plan to trade and find out whether a prospective broker offers it. Next it is wise to ascertain at what leverage ratio you can trade and what the costs for trading any given asset class would be.

 

Trading Platforms

 

Since you have to use a proper trading platform to place trades as well as to run analyses and make big trading decisions, the trading platform offered by a broker is an extremely important factor.

 

Many of the reviewed brokers that offer bonuses support the MetaTrader 4 and MetaTrader 5 trading platforms, both which are very popular with forex and CFD traders. Both offer customisable charts, forex signals and strategy back testing.

 

Some brokers have their own proprietary trading platforms though, which can be just as powerful and offering exceptional features.

 

How to Get Started with a Bonus Broker

 

If you are ready to start trading with one of the bonus brokers in South Africa, we will demonstrate how to claim your bonus with Justforex, which offers 120% bonus when you sign up.

 

Here is how you can get started:

 

Step 1: Create an Account

The first step to trading with JustForex is to create your account – either from within the JustForex website or by downloading its mobile app.

 

After choosing the ‘Join Now’ option you have to enter your name and email address to create your account or you may sign up simply using your Google or Facebook login information.

 

Step 2: Verify your Identity

 

In compliance with the FCA’s anti-money laundering regulations, JustForex requires that you submit proof of your identity by uploading a copy of your driver’s license or the photo page of your passport. You also need to upload a copy of some proof of address, which can be a financial statement or utility bill.

 

Step 3: Fund your Account

 

You need to make a deposit with JustForex before you can access your bonus. The broker has a minimum deposit requirement of $200 (3,000 ZAR), which can be paid by credit card, debit card, bank transfer, PayPal, Neteller, or Skrill.

 

Step 4: Start Trading Cryptocurrency

 

To start trading cryptocurrency, navigate to the JustForex dashboard to search for the coin you want to trade. When the digital currency appears, click on it and then click ‘Trade’ to access a new order form.

 

 

Enter the amount of money you want to trade in the order form (you must trade at least 750 ZAR) and select the leverage ratio you want to apply to your trade. Leverage of up to 2:1 can be used. Then select a stop-loss price and take-profit price consistent with your trading strategy.

 

As soon as your trade is ready, click ‘Open Trade’ to execute your order.

 

Best No Deposit Bonus Brokers South Africa – Conclusion

 

Creating an account with a no deposit bonus broker enables you to start trading at once without risking any of your own money first. Many of the best no deposit bonus brokers in South Africa allow you to trade multiple assets, including stocks, forex, commodities, cryptocurrencies, and more.

 

Making the decision to join the world of Forex can indeed be a daunting experience for new traders. Naturally so, trying anything new can instill the proverbial “choke” in any normal person. So many unknown variables and experiences and the pressure are even higher because now there’s your own hard-earned money attached to the new adventure.

 

Just like all new experiences, there is usually some great incentive that helps get us over the hill on the decision tree and commit to trying. Forex brokers have realized that they need to offer some incentive to help traders take the first leap of faith. Enter: The Bonus Scheme.

 

There are many traders in the market, and they all offer a range of bonus incentives to encourage traders to complete certain tasks. Referral bonuses, sign-on bonuses, trade objective bonuses, there are quite a few and are subject to the individuality of each broker.

 

Beginner traders may appreciate any amount that is deposited into the trading account whereas the expert trader may be able to be uninfluenced by it. A fascinating bonus, the no deposit bonus, allows traders to get to trading without having to invest their own money just yet. Granted, each broker may have specific conditions attached to spending and trading the bonus.

 

Claim your bonus now from $10,$30 up to $100 – simply by signing up by some of these forex brokers. This article focuses on which brokers provide excellent bonuses including the few that do offer no deposit bonuses from time to time. It is important to note that no deposit bonuses are not common with brokers but there may be specific offers for limited time frames in order to entice traders to sign up.

 

The second part of this article mentions some limited offers. The fact that a broker offers a no deposit bonus does NOT mean that they are an excellent broker. Always investigate the broker first to make sure they are trustworthy, regulated and offer good trading conditions.

 

Other brokers offering a Forex No Deposit Bonus The next section in the article focuses on brokers who are offering no deposit bonuses for a limited time. Some brokers, newer to the market, have less information available than their more established competition.

 

 

 

Frequently Asked Questions

 

 

What is a welcome no-deposit bonus?

A no-deposit welcome bonus is a promotional offer that allows traders to register and validate their trading account, and start trading provided trading credit that is paid into the trading account.

 

What is the advantage of such a bonus?

A no-deposit bonus allows traders to start trading without risking their capital first.

 

Are these brokers safe to trade with?

These brokers offer some of the best trading conditions in the industry and provide a safe trading environment for all traders.

 

Can these bonuses be withdrawn?

No, unless otherwise stated by the broker.

 

How can bonuses benefit brokers?

Bonuses tend to attract more traders into registering an account, especially with a no-deposit bonus. Not only are traders exempted from paying a minimum deposit, but they also receive trading credit to start trading.

 

Which are the best welcome forex no-deposit bonus brokers?

The brokers on this list are the best welcome forex no-deposit bonus brokers in the industry.





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