Finance Feeds logo

Forex No Deposit Bonus in Nigeria

Traders Union

The world of Forex trading is full of exciting opportunities and promises of substantial profits. One enticing aspect that attracts many traders, especially in Nigeria, is the concept of a Forex no-deposit bonus. Traders Union has explained the Forex no deposit bonus in Nigeria and provided guidelines for one. Moreover, it has listed the best bonus providers in 2023 with insights into them

What is a Forex bonus?

TU experts have explained the Forex no-deposit bonus in Nigeria and state that a Forex bonus is essentially a promotional strategy where funds are transferred by a broker to a trader’s account free of charge, provided the trader fulfills certain conditions. The conditions typically involve registration and confirmation of personal data. The bonus amounts can be significant, sometimes amounting to 120% of the deposited amount. This can be an excellent boon for traders operating on a limited budget, allowing them to make higher bets.

Forex bonuses come in different types:

  • Forex Welcome Bonus: This bonus is provided to traders who register for the first time on the exchange platform. It’s usually a fixed amount, such as $30. Some brokers offer an increased deposit if the trader replenishes their account by a certain amount, potentially ranging from 60% to 120% of the deposit bonus.
  • No Deposit Bonus Forex: The main allure of this bonus type is that it isn’t necessary to pay a deposit to get it. All a trader needs to do is register and verify their account. These bonuses are considered very valuable as they allow trading without making a deposit.
  • Forex Bonus with Each Deposit: This recurring deposit bonus is received not just upon sign-up or first deposit but with each deposit made. While it provides traders with additional funds for trading, disadvantages exist.

Best Forex bonuses in Nigeria

The following are some of the best Forex bonuses in Nigeria, according to TU experts:

  1. RoboForex: Offers a $30 welcome bonus for traders who register, confirm their data, and deposit at least $10. The bonus itself cannot be withdrawn. RoboForex is regulated by CySec and IFSC.
  2. TeleTrade: Provides a welcoming bonus of $1,000 and more for traders who register, confirm their data, and deposit at least $1,000. The bonus can be withdrawn if the conditions for the volume of trades are met. TeleTrade is regulated by CySec.
  3. InstaForex: Offers a no-deposit bonus of $2,000 for traders who register. The bonus cannot be withdrawn. InstaForex is regulated by BVI FSC.

Conclusion

Forex bonuses, particularly the no-deposit bonus, can serve as powerful incentives for new and seasoned traders. They provide an additional funding source for traders to boost their profits potentially. However, it’s crucial to understand the terms and conditions that accompany these bonuses. These can significantly affect your trading strategy and overall experience.

For comprehensive insights and expert advice on Forex trading in Nigeria and beyond, visit the official Traders Union website. Our dedicated team of experts is committed to guiding you on your Forex trading journey with in-depth reviews, tips, and more.

Subscribe

Read this next

Industry News

“Unconscionable conduct”: ASIC fines National Australia Bank $2.1m for overcharging customers

NAB faces a $2.1 million penalty for unconscionable conduct, as the Federal Court rules the bank knowingly overcharged customers, and took over two years to rectify the situation.

National Australia Bank
Industry News

SEC charges $15 million Ponzi scheme targeting Mexican-American community

Armando Gutierrez Rosas purportedly intended to invest these funds in U.S. real estate and mining operations in Mexico, assuring investors of monthly returns as high as 10 percent. Instead, Gutierrez operated a Ponzi scheme, diverting investor funds to cover his personal expenses, which notably included the acquisition of a $2.5 million mansion in Texas.

Digital Assets

Chainlink launches cross-chain interoperability protocol on Arbitrum One

Chainlink and Arbitrum join forces to bring the Chainlink Cross-Chain Interoperability Protocol (CCIP) to Arbitrum One, offering Web3 developers a powerful tool to build secure and interconnected applications across blockchains.

Executive Moves

STT appoints Brian Saldeen as Senior Risk & Margin Product Manager

Sterling Trading Tech welcomes Brian Saldeen to spearhead the development of their Risk & Margin offering, bolstering their cutting-edge solutions in the capital markets.

Industry News

Altruist eliminates brokerage account fees for advisors who choose their custody

Altruist, the modern custodian for independent RIAs, takes a bold step by eliminating portfolio accounting software expenses for all Altruist brokerage accounts, potentially saving advisors tens of thousands annually.

Retail FX

Exploring India’s Forex Market Timings With Insights From Experts

Traders Union experts identify the most profitable Forex trading windows for Indians as between 6.00-12.00 GMT and 18.00-0.00 GMT, emphasizing the importance of timing and market conditions in a rapidly evolving Indian financial landscape.

Retail FX

Capital.com UK doubles revenues, profit in 2022

The UK business of multi-licensed online brokerage group Capital.com has reported its financials for its new fiscal year ending December 31, 2022. The group managed to best most of last year’s performance metrics, having grown its net income, and FY 2022 turned into the best revenue since it was founded.

Digital Assets

Alchemy goes legit in US with Money Transmitter License

Cryptocurrency payment gateway Alchemy Pay has marked a pivotal moment in its global expansion strategy by securing a crucial payment license in the United States. The company has obtained a Money Transmitter License in the state of Arkansas, joining the ranks of crypto giants like Coinbase and Jack Dorsey’s Block.

Digital Assets

eToro crypto business gets CySEC license

eToro has received approval from CySEC to operate as a crypto asset services provider, providing a regulatory stamp for the company’s digital assets and cryptocurrencies business in Cyprus and Europe.

<
✖