Best No deposit Bonus Forex Brokers in Nigeria
No deposit Bonus Forex Brokers in Nigeria: Recent years have seen Nigeria emerge as a prominent player in the very profitable forex trading industry. With an internet connection, a sound trading technique, and a trustworthy broker, you can profit from the global currency markets’ fluctuation.
Only a few reliable brokers offer Forex no deposit bonuses to Nigerian traders, allowing them to register an account with the broker with money already in it and begin trading right away.
Here, we’ve put together a list of the best no-deposit bonus Forex brokers in Nigeria, with each offering excellent trading conditions and a wide variety of handy features.
1. InstaForex
Overview
A hefty $500 Start Up Bonus is available to new traders who sign up for an account with InstaForex. This no deposit bonus is one of the most generous in the industry.
Even though you do not need to make a deposit in order to trade with the bonus money, you will need to do so in order to withdraw any money you win from trading with the free money.
Pros and Cons
| Pros | Cons |
| Commission-free trading offered | |
| MetaTrader 4 and 5 offered | |
| Variety of account types offered | |
| Variety of financial instruments | |
| Well-regulated by several entities | |
| EU citizens are not restricted by the leverage, as they operate under BVI regulations. |
Features
| Feature | Information |
| Regulation | CySEC, BVI, SVGFSA |
| Minimum deposit from | $1 |
| Average spread from | 0.0 pips |
| Commissions from | 0.03% |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:1000 |
| Bonuses | $500 Start Up Bonus |
| Customer Support | 24/5 |
2. FBS
Overview
FBS, a broker that offers both ECN and STP trading, gives its customers a wide variety of superior-quality trading choices. FBS makes the trading platforms MetaTrader 4 and MetaTrader 5 available to customers. Each platform gives customers access to more than 75 different trading products.
If this is your first time opening an account with FBS, you will be eligible to get a no deposit bonus of $50 that does not require a deposit.
Pros and Cons
| PROS | CONS |
| Ultra-fast trade execution
Low spreads and commissions |
Deposit and withdrawal fees |
Features
| Feature | Information |
| Regulation | CySEC |
| Minimum deposit from | $100 |
| Average spread from | 0.0 |
| Commissions from | $6 |
| Deposit/Withdrawal Fees | Variable depending on method |
| Maximum Leverage | 1:3000 |
| Bonuses | $50 No deposit bonus |
| Customer Support | 24/5 |
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3. XM
Overview
Over the years, a great number of traders have taken advantage of the versatility and flexibility offered by the XM platform.
More than 2.5 million traders from 196 different nations use XM, making it one of the most popular foreign exchange (FX) and contract for difference (CFD) brokers in the world.
New traders at XM will be eligible to get a $30 Forex no deposit bonus incentive once their accounts have been verified successfully.
Pros and Cons
| Pros | Cons |
| Low minimum deposit | Inactivity fee charged after 90 days on live accounts |
| Comprehensive educational offering | Limited product portfolio |
| Streamlined account opening process |
Features
| Feature | Information |
| Regulation | IFSC, ASIC, CySEC, FCA and DFSA |
| Minimum deposit from | $5 |
| Average spread from | 0.1 pips |
| Commissions from | $3.5 commission per $100 000 traded |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:30 |
| Bonuses | $30 No deposit bonus |
| Customer Support | 24/5 |
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4. Tickmill
Overview
Tickmill is a well-known broker that provides trading on more than 80 CFD products, such as forex, indices, commodities, and bonds, through three major trading accounts referred to as “Pro Account,” “Classic Account,” and “VIP Account.”
Tickmill is currently offering new customers a $30 Forex no deposit bonus, and the broker has also just recently stated that it will be cutting its service fees.
Pros and Cons
| PROS | CONS |
| STP model | |
| Advanced trading software | |
| Competitive pricing | |
| Well regulated | |
| High leverage |
Features
| Feature | Information |
| Regulation | FSA |
| Minimum deposit from | $100 |
| Average spread from | 0.1 pips |
| Commissions from | 2 per side per 100,000 traded |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:500 |
| Bonuses | $30 Welcome Bonus |
| Customer Support | 24/5 |
5. HF Markets
Overview
The widely used broker HF Markets offers its clients a diverse selection of trading products, in addition to a trading environment that is simple to use and excellent customer service.
New traders at HotForex are eligible to get a $30 Forex no deposit bonus that can be used immediately after their accounts have been successfully verified.
Pros and Cons
| Pros | Cons |
| No deposit or withdrawal fees | High commission charges on the Zero account |
| Competitive spreads |
Features
| Feature | Information |
| Regulation | CySEC, DFSA, FCA, FSA, FSCA |
| Minimum deposit from | $5 |
| Average spread from | 0,0 pips |
| Commissions from | USD 0.03 per 1K lot. |
| Deposit/Withdrawal Fees | None |
| Maximum Leverage | 1:1000 |
| Bonuses | $30 No deposit bonus |
| Customer Support | 24/5 |
Thanks for reading.
