Welcome no deposit bonus forex
The No Deposit Bonus of SuperForex allows new members to get a bonus of up to $88 without initial deposits and start a risk-free FX trading. There are many reputable brokers still giving out no deposit bonuses, sometimes called a “welcome bonus”. Side note: Welcome bonus is a term. As in the case with the welcome bonus, the name of the no deposit bonus is self-explanatory. It does not require making a deposit. Brokers. BITCOIN AND CRYPTO CURRENCY LAWYERS
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And the answer is trades! It certainly means Ahmad will be trading for months before he is eligible to withdraw. And that is if he is profiting from that trades. If not, he will need to trade even more than trades to be profitable. Conclusion: Lot size limitation makes profit generation harder. Maximum Active Positions To make the trading even more painful, some brokers limit their clients from having a lot of simultaneous active positions.
Sometimes the pending orders are also included in the counting of the active positions. Depending on the strategies, the limitation of active positions can harm certain trading techniques. If a trader is trading based on the trend-following method, then he cannot open more positions at a different price to earning maximum profit. Conclusion: Limitation of active positions can harm the trading experience of the traders. Trading Assets Limitation Trading assets or currency pairs are a vital part of forex trading.
We can utilize the volatility of the markets to make a profit. The limitation of the trading asset means that we will have fewer currency instruments to choose from. Hence it badly restricts the opportunity to trade when we spot a good entry setup for a particular currency pair. The main purpose of no deposit bonus is to allow clients to feel how it is when trading with the broker in live market conditions.
Bonus Validity This refers to the lifetime of a no deposit bonus. The bonus will be canceled by the forex brokers when it is expired. A short bonus validity means that clients might not have enough time to truly engage with the account. On the other hand, if given enough time, clients could even have the chance to trade in different market conditions.
A good period of testing a live trading account should be 30 days or more. It will give ample time to the clients to fully understand what real trading is all about. After all, no deposit bonus is designed for new traders to have a taste of how forex trading works. Conclusion: Short bonus validity is not a go. Hedging Is Not Allowed Hedging in forex trading simply means having 2 open trades in different directions.
A few moments later, he opened a sell order at 1. Having an active long position buy order and an active short position sell order means Ahmad is hedging the market. The purpose of hedging usually is to temporarily eliminate the risk of being in the market. Sometimes hedging is used as a part of a certain trading strategy. Restricting hedging would mean that the traders need to look for other trading methods. Conclusion: Without hedging being permitted, traders will have difficulty trading in both different directions simultaneously.
Scalping Is Not Allowed Scalping is a method that traders use to earn a small profit usually pips multiple times in a day. They also will hold the position for a very short time. Usually, traders use this method during high market volatility such as during the release of economic data and news. It is popular among traders because it has the potential to catch a lot of pips in the shortest time.
Of course, it is also a way to empty the account very fast. For every open position, you will have to pay some spread cost. It must be used wisely if you do not want to suffer a margin call. Conclusion: Since it is a popular method among traders, limiting its use will certainly cause trouble for traders. Limited Leverage What leverage means is that we can use a small amount of money to trade a larger position. Example 3: Ahmad is given the leverage of in his forex account.
This is why it is called leverage. It gives us the flexibility to trade more even though we do not have big capital. Leverage is the reason why Forex is so popular. Limiting leverage can cause a very bad trading experience for the traders.
They cannot open a bigger position than they desire. It also lowers down the trading volume, hence it will take a bigger number of trades to fulfill the withdrawal requirement. Conclusion: Limited leverage is a tactic that goes against traders. It simplifies the trading process a lot by doing almost everything in the trading. This includes opening and closing a trade, generating a tradable signal, analyzing market conditions using indicators, etc. There are some good EAs in the market. Undoubtedly, robot trading is interesting to anyone who does not have prior experience in forex trading.
It is hands-free and hassle-free. Once it is set up, EA will handle the trading from the very start. Limiting the usage of EA is like limiting the usage of an elevator — instead of pressing a button to get you to the top of the building, you are asked to walk the stairs. Conclusion: This is downgrading the advancement of forex technology. Hence, it is not a choice if you are an EA lover. So what is the point of having it? If you are making a profit from it, you can withdraw the profit.
But experiences tell us that it is not that easy to withdraw the profit you made from a free bonus. To make your life easier and to serve as a foundation for Penguin Meter, we have come out with an extensive list of eligibility for profit withdrawal.
Trading Volume Trading volume refers to the total amount of lot size that a trader completed. Most forex brokers set the trading volume as the parameter of whether a trader is eligible for withdrawal. The main reason for doing that is to encourage traders to trade more. The fact is; trading more does not mean you can earn more. Some of the forex brokers even set the trading volume threshold to lots.
This scenario is almost like a mission impossible. A moderate trading volume requirement such as 5 lots — is fine. But this also correlates with the maximum lot size permitted per trade and the maximum leverage allowed. In example 1, the permitted lot size was 0.
In this situation, even a trading volume of 5 lots is too much. Conclusion: Higher trading volume requirement is not a good thing for the traders. Active Trading Days An active trading day simply means that there is at least one open and closed position for the day. Example 4: Ahmad opened a position on day 1, but he does not close any position on that day. Instead, he closed it on day 3. What is the active trading day of Ahmad? The answer is only 1 day. It is on day 3 that he had one open position and one closed position.
Based on the example above, to achieve an active trading day, we need to close at least one position a day Of course you cannot close a position without first opening it. This requirement forces the traders to trade more; sometimes out of the compulsion of fulfilling the active day requirement.
Conclusion: Traders need to be super active in trading to fulfill active trading days. It is not a pleasant idea to have. Extra Deposit Required It is initially advertised as a no deposit bonus. But when it comes to the profit withdrawal step, you are suddenly required to deposit a certain amount of money to be eligible for the profit withdrawal. Do not be surprised! This is a common example of what is happening in most cases. The purpose of the forex brokers is very clear. They want you to stay with them and trade with them.
As we told you at the beginning of this guide, the main reason for the no deposit bonus is to entice you to trade in the forex market. From our experience, the traders are usually required to deposit an equal amount of profit. Traders then need to trade with the deposit to fulfill a certain amount of trading volume. Conclusion: If a no deposit bonus needs a deposit at the end, why is it called no deposit bonus in the first place? Subscribe To Penguin Meter Updates After 5 examples, Ahmad is devastated by all the rules and regulations set by the forex brokers.
He decided to stick with Forex Penguin and subscribed to the newsletter. He is waiting for Penguin Meter to choose a better no deposit bonus. If you are like Ahmad, please subscribe to our newsletter for more updates. As we work closely with most of the forex brokers listed on Forex Penguin, we have the first insight into what is really going on behind the scenes. These abusive strategies have often discouraged a good forex broker from offering its first-time clients the trading incentive in the form of no deposit bonus.
In this section, all information is written for educational purposes and it is not to be repeated. We also hope that through this guide, we can help honest forex brokers to find some alternative ways to combat the abuser. Hence, the no deposit bonus promotion can continue and bring benefits to genuine first-time traders. Multiple Bonus Sign Up Forex no deposit bonus is clearly a popular way for new traders to start learning forex while not using their own money.
It also attracts some syndicates to pocket this golden opportunity. Since most forex brokers are aware of the multiple bonus sign-up abuse, they have strict rules to go against it. Unfortunately, for every rule, there will be creative ways to break it. We received reports that especially in the poorer countries, there are people who collect or buy KYC documents in bulk. The documents include scanned copies of international passports, national id cards, government-issued driving licenses, household utility bills, bank statements, and more.
Depending on the market conditions, some of these bonuses could generate profits and some will lose. The abuser then can withdraw the profits and move on to the next brokers who offer new bonuses. Such activities have caused the forex brokers to lose money, hence they are discouraged from hosting the no deposit bonus anymore. This creates a zero-sum game, in which there will be no loss in total. Bonus accounts hedging or sometimes also known as bonus arbitrage refers to the activities of hedging two bonus accounts with the purpose to gain profit from one account and losing the other one.
Since the bonus is given by the broker, the account on the losing side has no monetary impact on the account holder. On the other hand, the account that has gained profit is eligible for withdrawal. The accounts used for the hedging can be from the same forex broker or two different brokers with almost the same bonus size and trading conditions such as leverage, minimum lot size, and stop-out level.
This method is banned by the forex brokers because it is deemed cheating and clearly violates the sole purpose of the no deposit bonus, which is to give the opportunity to the new clients to try out the forex broker without their own deposit. To combat the abusive bonus hoarders, some forex brokers have introduced a set of more stringent rules and regulations. We summarize these carefully designed restrictions in the following section along with the explanation.
IP Address Restriction Most of the forex brokers will not grant any no deposit bonus if there is an existing IP in the subnet that has already received the bonus. However, there are still some reputed regulators that allow promotions with bonuses including Brokers in Malaysia.
And there are Brokers with Bonuses in Malaysia, either regulated by local SCM or are international brokers accepting Malaysian clients. Most usual Terms for Bonuses is the traders cannot just withdraw the bonus credit to their bank account. This money are solely provided for trading purposes, and only gains from the Bonus account can be withdrawn. Besides, most of brokers allow withdrawals only with initial deposit done. However, every broker prorvide its own conditions.
It also allows foreign brokers to take Malaysian clients. Traders are entitled for the bonus as soon as they open their accounts. We opened live accounts and depositing real money with each selected broker. Also, we placed real trades in popular markets to get the real idea of the spread and commission, trading platform, deposits and withdrawals conditions, education, and customer service.
Tickmill is one of the very few brokers that offer a no deposit bonus forex. However, most jurisdictions prohibit brokers from offering any kind of bonus. Moreover, it offers a good number of deposit and withdrawal methods. The support team of Tickmill is also very helpful to traders.
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