What is a no-deposit bonus? From claiming it to withdrawing
A plain explanation of how a no-deposit bonus works at a forex broker, the usual steps from claiming it to withdrawing, and what to check first.
Published ・ MyBrokerBonus Editorial
A no-deposit bonus is a credit that a forex broker gives you for opening an account, without asking you to deposit your own money first. Brokers use it to let new clients try their platform. It is a promotion run by the broker, not by this site, and every broker sets its own rules.
This guide explains the general flow. The amounts, dates and conditions of any specific bonus are not written here, because they change. They are shown from our data in the section at the end of the page, with a link to the broker’s own terms.
The usual steps
- Check that you are eligible. Many bonuses are limited by country of residence, by account type, or to people who have not held an account with the broker before. Read this part of the terms first.
- Open an account and verify your identity. When identity checks are needed differs by offer. Some offers want the account verified before you claim the bonus, and some ask for documents when you move profit out.
- Claim the bonus. Some offers add the credit automatically when you open an eligible account. Others make you claim it yourself, with a button in the client area or an application form. A claim deadline can apply.
- Trade within the conditions. A bonus usually comes with rules such as a minimum trading volume, a time limit, or limits on certain instruments or on automated trading (EAs).
- Ask to withdraw. Brokers differ on what can be withdrawn. In many cases the bonus credit itself cannot be taken out, and profits can be withdrawn only after the conditions are met.
- Open an account
- Verify identityBefore the credit or before the first withdrawal
- Credit is addedCredit, not cash
- Trade the required volumeThis section
- Withdraw profitOnly if the conditions are met
The steps with the darker frame are where the bonus conditions apply.
Two ways the credit reaches your account
The credit reaches the account in one of two ways. Which way applies, and whether a deadline or an identity check comes with it, is written in the terms of each offer.
Added automatically
The credit is added once you open an eligible account.
You claim it
A button, a form or a step in the client area comes first. A claim deadline can apply.
Which type applies is written in each offer's terms.
Tickmill’s Welcome Account is an example of an offer you apply for.
The Welcome Account is created automatically after the Client completes the registration form on the web page and the application has been approved.
Tickmill, official page
What it means. You fill in a registration form first, and the account is created only after the application is approved. The word “automatically” here describes the account being created once the application is approved.
AXIORY is an example of claiming the credit yourself.
Click the link in the email, log in to your account, and press “Claim Credit.”
AXIORY, official page
What it means. You log in from the link in the email and press the claim button yourself.
A claim can come with a deadline and an identity check. FXGT wording is in Japanese on its page.
ただし、登録日から30日以内に認証を完了し、ボーナスを受け取る必要があります。
FXGT.com, official page
What it means. Within a time limit counted from the registration date, you must complete account verification and claim the bonus. The quote is in Japanese, and the number of days is the one in the original.
What can be withdrawn: the profit, not the credit
The credit that is added and the profit you make by trading with it are treated differently when you withdraw.
The credit that is added
It is for trading. The terms say it cannot be withdrawn.
The profit made with it
Some terms set no condition, some ask for volume or a first deposit, and some set a limit on the amount.
Read the sentence on withdrawing profit in the terms to see which type an offer is.
AXIORY says this about the credit itself.
The NDB is non-withdrawable and may be used as margin for trading purposes only.
AXIORY, official page
What it means. The credit cannot be withdrawn, and it can be used as margin for trading only. NDB stands for no-deposit bonus. AXIORY sets the conditions for withdrawing profit separately.
Tickmill says that moving profit out needs identity documents. How the profit can be released differs by broker, and the figure below sorts it into four types.
No condition
The terms say profit made with the bonus can be taken out freely.
Unlocked by conditions
Volume, number of trades or a first deposit must be done first. Until then the profit stays locked.
Within a limit
Only a stated range of the profit can be moved out. The rest is not paid.
Moved, then the account ends
The profit is moved to another place, and the account that made it can no longer be used.
The length of each bar is drawn only to show the difference. It is not any broker's amount.
What a withdrawal does to the bonus
Some offers cancel the bonus when you withdraw. It is removed in one of two ways: everything is removed, or only a matching share is removed.
Everything is removed
The remaining credit and the bonus-only profit are removed.
Removed in proportion
Only the matching share of the bonus is removed.
The numbers are made up to show the difference. They are not any broker's terms.
AXIORY is an example of the first type.
If a withdrawal of deposited funds or outgoing internal transfer (ITF) occurs before both unlock conditions are completed, all remaining credit will be removed immediately, and any bonus-only profits will be set to zero.
AXIORY, official page
What it means. If you withdraw before both unlock conditions are met, the remaining credit disappears and the profit made with the bonus alone goes back to zero.
FXGT is an example of the second type.
In the event that the Client attempts to transfer out from his/her live MT5/MT4 trading account to his/her e-wallet any amount, the Client acknowledges and agrees that the Credit granted by the Company will be proportionally decreased in its MT5/MT4 trading account based on the discretion of the Company.
FXGT.com, official page
What it means. If you transfer money out of the live account, the credit is decreased in proportion. The wording says the decrease is at the company’s discretion.
Caution
With some offers, the treatment of a withdrawal depends on whether the conditions have been met. With AXIORY, withdrawing before the conditions are met removes all of the remaining credit. If you may withdraw, read how the offer cancels the bonus before you claim it.
What to check in the terms
- Expiry. Is there an end date for claiming the bonus, and a time limit for using it?
- Trading requirement. Is there a volume you must trade before you can withdraw?
- What happens on withdrawal. Some brokers cancel the bonus, or reduce it, if you withdraw funds before the conditions are met.
- Allowed styles. Check whether scalping, hedging and EAs are permitted while the bonus is active.
- Your country. Confirm that residents of your country can receive it.
To compare the restrictions kind by kind, read No-deposit bonus restrictions and cautions. To see the offers running now side by side, read No-deposit bonuses compared. To read the terms of a single offer, see How to read bonus withdrawal conditions.
A note on risk
Trading with leverage can lose money quickly, and a bonus does not change that. Treat a no-deposit bonus as a way to try a broker’s platform, not as a source of income, and read the provider’s terms before you apply.
