Forex trading is growing more and more popular everyday, and it’s especially in demand in numerous developing countries like the Philippines. It’s favored by thousands of traders for the opportunities for earning lots of money without having to invest too much in the first place. Now, many brokers offer a variety of no-deposit bonuses that allow you to start trading without any initial investments at all. This article is going to tell you about the most reliable brokers with such options working in the Philippines.
How Forex bonuses work
Basically, a bonus is some amount of money given to you by a broker for free. Of course, you cannot withdraw these funds: their main purpose is to help you get started in Forex trading without having to spend any money. Most of the time, receiving such a bonus is easy: all you have to do is just sign up and verify your account, and you may get a so-called welcome bonus right away. However, there are many kinds of bonuses provided by brokers, but we’re going to talk about no-deposit bonuses today.
No deposit bonuses are often given as a welcome bonus, but they are different. Their main benefit is that they allow you to start trading right away. You can use them to test the conditions offered by the broker or just for practice. If you’re lucky and careful enough, you can even earn a fortune using just these initial funds without having to invest anything at all. However, not every broker offers such an option, so you should know which no deposit bonus Forex Philippines brokers to choose.
RoboForex is widely considered the most beneficial option in the Philippines. While you still have to deposit money, you can spend just $10 to receive a $30 bonus. That means you start trading with a sum of $40, and that’s pretty substantial. And when you reach a certain trading volume, you will be able to apply for a deposit bonus of 120% to your deposited amount. These bonuses allow you to start trading with just a tiny sum, so they’re extremely popular among novice traders.
Other notable brokers
However, there are other brokers with nice bonuses. For example, FBS can give you up to $140 for completing the registration process. Tickmill and XM give you $30 from the start. FxOpen gives you $10 after the verification procedure, but don’t forget that you can’t withdraw all these bonuses, so it’s still important to learn how to trade.