How to Start Trading Online Without Investments
A lot of people want to start trading online but have no idea where to start. With so many online brokers, both forex and binary, it can be confusing. What makes this even worse is that not all online brokers are reputable. Some are merely scams masquerading as legitimate brokers.
Trading online does indeed cost money, after all you need to spend money to make money, but you don’t have to spend your own money.
There are a number of reputable online brokers in the financial world that will give you the money you need to start trading and they often times ask for little or nothing in return.
Does it sound too good to be true?
Well it is and isn’t.
Here is how it goes; online brokers use what are called bonuses to attract new clients. There are two types of bonuses:
● Deposit bonus – a bonus that you receive after you’ve made your first deposit
● No deposit bonus – a bonus you receive without making a deposit
On top of those, there are also contests which brokers will hold and reward the winners with money they can use for trading.
The best way to start trading without using any of your own money is to register with a legitimate broker who offers a no deposit bonus.
This way you can start trading without any money upfront.
No Deposit Bonus Guide
While Forex no deposit bonuses are available from legitimate brokers, those brokers often have terms and conditions that you need to agree to before receiving the funds for trading. These terms can often be confusing and reveal that certain no deposit bonuses actually need a bonus before you can withdraw your money.
It’s important you be fully aware of the terms of the no deposit bonus you are registering for else it could actually cost you more than you expected.
Some common terms and conditions for no deposit bonuses are:
1. You need to make a deposit in order to collect your earnings. If this is the case then that no deposit bonus is actually requires a bonus, is not free and best avoided.
2. Make sure the terms and conditions are transparent and easy to understand because some brokers will try to sneak in suspicious clauses into their terms and conditions, making the no deposit bonus practically useless.
3. Ensure that you are required to have a reasonable trading volume before you can withdraw. One general recommendation in the case of forex trading, is do not go for any no deposit bonus that requires you to complete 1 lot for 10 USD so you can get your money and balance.
4. Check the currency and country that no deposit bonuses are offered in. Sometimes they may not be offered in your country and they may only be offered in one particular currency but can be converted.
5. Finally, check the maximum profit you can withdraw when signing up for a no deposit bonus. Most have a limit on the maximum withdrawal that can be made, so check and make sure it is worth it.
At the end of the day, there are a number of scams out there but there are also great online brokers who will practically pay you to trade.
Online trading today is easier than ever before and when done right is a worthwhile venture.