Often when a new Forex trader is just starting out they don’t have a large amount of money to invest, or they want to try out their strategies without risking any real money.
In this post we go through the different ways you can start trading in the Forex market without any investment at all and how you can also get a no deposit bonus to start trading with.
Forex Trading Without Investment
Many traders when they first come to trading want to start with little or no investment.
This is a very wise way to go. Until you know whether you have a profitable trading strategy or not, risking your hard earned money is more like gambling than trading.
These days there are multiple ways you can start trading without any investment at all. The first is to use a free demo account.
Start With a Demo Account
A free demo or virtual account will let you start trading in the markets right away and it will cost you nothing.
A demo account works the exact same way as a real live account, with the only difference being that you are not depositing or risking any real money.
Using a demo account will let you enter and manage your trades just like you would if you were risking real money in a live account. Price moves the same and your trades are opened and closed in the same way.
This lets you get used to using the trading platform and also practicing your different trading strategies.
Also, keep in mind that even after you have progressed to trading with real money in a live account, a demo account is a great way to continually practice your trading skills and different strategies in a no risk environment.
Use a No Deposit Bonus
If you are ready to start trading with real money, but don’t want to invest any of your own to get started, there are brokers that will give you what is called a no deposit bonus.
These bonuses work by the broker giving you real live funds to trade with and you not having to make any deposit yourself. Normally, you will then be able to withdraw the profits.
Note; different brokers have different conditions for each of their bonuses. Some conditions will be stricter and harder to meet for you to withdraw your profits, but free trading funds with no deposit is still a very good deal anyway you look at it.
One of the best no deposit bonuses is offered by XM.
XM offer you a $30 no deposit bonus which means you can get started trading with real live money without having to make any deposit.
You can get the $30 no deposit bonus here.