Brokers With The Best No Deposit Bonus In South Africa (2024) ☑️

What Is A No Deposit Bonus In Forex?

The forex no deposit bonus is a free, first deposit that you’re given to forex traders by their brokers. The Forex no-deposit bonus allows you to start trading without risking your own capital in South Africa.

Forex no deposit bonuses are most commonly reserved for new traders and come with a string of terms and conditions around how you can trade them and when you can withdraw your profits.

The no-deposit bonus is perfect for you if you want to trade forex but you are hesitant to risk your initial deposit. No deposit bonuses are usually only given to new clients and they are given only once when they open their accounts.

If you are new to forex you can learn more here

The Best Forex No Deposit Bonus For South Africans (2024)

XM – $30 No Deposit Bonus

XM, one of the top forex brokers in South Africa, offers a once-off 30 USD trading bonus for new traders.

While the bonus cannot be withdrawn, any profits you make can be. The bonus is automatically credited to your trading account upon sign-up.

Bonus Terms and Conditions

• Only available for new XM clients
• Clients must complete the voice verification process by following the on-screen instructions.
• Clients are only permitted to hold one “No Deposit Trading Bonus.”
• Profits from trading on “No Deposit Trading Bonus” Accounts may be withdrawn anytime, provided that the trading volume in the relevant real trading Account reaches at least 10 micro lots (0,1 standard lots), and provided that at least 5 round turn trades have been completed.

FBS Level Up Bonus (Up to US$140)

FBS offers a no deposit bonus of up to US$140 for new traders. To get the bonus, simply open a Level-up bonus account and get US$70 in the FBS personal area. You can double that bonus (to make it US$140) by downloading the FBS personal area app.

The bonus is instantly credited after you verify your email. You can trade the bonus for 20 days and withdraw your profits.

Bonus Terms and Conditions

• Once traders have linked their Facebook accounts, FBS will send on some basic Forex education, and a short test will have to be completed. Once the test is passed, the Level Up bonus will be available for trading –  there is no need for full account registration.
• Profits can only be withdrawn up to the original bonus amount and only after 20 days of trading.
• You can miss no more than five trading days.
• You must have traded at least 5 lots in the period of 20 active trading days.

Learn more about the bonus below.

Instaforex ($1 000 Bonus)

The No Deposit Bonus from InstaForex is an exciting opportunity to start Forex trading. With the $1000 bonus, you will be able to estimate Instaforex's unsurpassed quality of order execution in real trading conditions with no risk and personal investments.

The bonus is credited automatically once requested and is available for trading straight away. Registration takes only 15 seconds and there is no verification needed to get the bonus.

Learn more and get the bonus below.

Superforex No Deposit Bonus

Superforex gives a No Deposit Bonus of $88  which is available to every customer with a live trading account that is fully verified. You don’t need to make a deposit in order to claim the bonus. Simply register & verify a live trading account.

Then click on the ”Get the No Deposit Bonus” button at the bottom of the page.

Get more details about the bonus below.

JustMarkets does offer a Sign-up Bonus of $30 USD  upon opening a new JustMarkets live trading account.  No deposit is needed in order to earn a $30 USD Sign-up bonus.

Terms & Conditions – JustMarkets No Deposit Bonus

Terms and conditions may change from time to time

The Bonus is available for one per client

The transaction must be no lower than 6 points (60 pips) for withdrawal calculation

EA is not allowed

The maximum lot size is 0.01

The maximum open position is 5

Advantages of Deposit & No Deposit Bonuses In Forex

• They allow you to trade bigger positions and potentially amplify your profits
• The deposit bonus has an emotional aspect attached to it since it you would have deposited real funds. This makes it look less like demo money
• the no deposit bonus allows you to trade on your real account without risking any money
• some brokers allow the profits made while trading with the bonus to be withdrawn
• You can use the bonus to check if the broker is a scam or not

Disadvantages of Deposit & No Deposit Bonuses In Forex

• It's not easy to withdraw the bonus because the brokers state a minimum number of lots that can be traded before you can withdraw. For example, some brokers allow you to withdraw US$1 worth of bonuses after trading 1 lot. This easily leads to overtrading
• the no deposit bonus is given only once.
• some brokers ask you to deposit funds before you can withdraw the funds made while trading with the bonus.

Common terms and conditions of Forex bonuses

• Forex no-deposit bonuses are usually only available to new clients.
• They are subject to time limits. Usually, they are available if the account is validated within 30 days of the registration date.
• The no-deposit bonus is automatically cancelled if a client withdraws money during or after the no-deposit bonus period.
• No-deposit bonuses apply per client, so if a client holds multiple accounts, they are only eligible to receive the no-deposit bonus once, in the first account that was registered during the promotional period.
• There might be a limit on the number of no-deposit bonuses that can be granted to family members/per household.
• There are usually conditions relating to withdrawals.
  • For example, you might have to complete a certain number of trades within a set time period, or generate a specified amount of profit.
  • You may also have to trade 10,000 USD, or even up to 100,000 USD, for each 1 USD of the bonus. Such bonuses might be more suitable for regular traders who place dozens of trades a day, or who place trades of a large size, rather than for beginners.
• You may be restricted regarding the currency pairs you can trade using the bonus.
• You may also be restricted to trading with your bonus on a specific trading platform.

Conclusion On Forex No-Deposit Bonuses For South Africans

These bonuses can be a great way for you to trade live while risking little or no capital of your own. However, brokers usually place stringent conditions when it comes to withdrawing the bonus or profits made while trading with the bonus.

You should read the broker's terms and conditions before you apply and accept their bonus.

We would suggest using these bonuses as the next step from demo trading. This will allow you to have an emotional attachment to the funds and thus it will feel more like you are trading real funds.

Bonuses should not be the only reason that you choose a broker. Look at its reputation, reviews and platforms etc.

Have you traded using deposit bonuses? Or are you interested in applying for a bonus? Please share your thoughts and experiences in the comments below.