Forex trading – it seems so appealing and yet so difficult for many of the people. There are lots of success stories about the traders that make us want to dig deep and learn a lot about the Forex, how trading works and how can you make actual money. We have seen so many people sitting at their computers, spending hours and hours reading about Forex and dreaming of a career of a successful trader. Yet they never dare to start trading, they say “I would like to start FX trading but I do not have enough money to start” or “I am too afraid to lose my money”, maybe you have said this too. These two reasons – losing the money or not having money to start with are so common that we decided to present the best ways to start Forex trading without money.
Is FX trading with no money possible? Our answer is yes! and there are more than one ways to start. If you have ever considered trading but did not start because of not having the money or being afraid not to lose it make sure to go through the article to know what are the options that suggest trading without money. In this ultimate guide to free Forex trading, we will be covering three main ways how to trade with no money and the scenarios that will show you which of the ways might be most profitable for you depending on the situation you are in currently. Let’s get straight to business now and learn how to start FX trading without any money.
The first option we offer for the complete beginners is Demo account. This is the best way for those people who are completely new to the trading and have never tried it out. If you have been interested in trading, learned a lot about it and think that you might not ready yet to start actually trading this free Forex Trading with demo accounts might be for you. What exactly is the demo account? Some of the brokers allow customers to get a free demo account on their platform. Once you register and get your demo account you are given the virtual money which you can use for the trading. Of course, you cannot trade with virtual money on the real Forex market. It is a simulation of Forex but the trading process is exactly the same as on the real live account, you get the same tools and alerts as it is on the live account. As you might already understand with demo accounts you cannot earn any money.
So if you want to start trading with no money and do not mind if you will not earn it as well, this might be a good option for you.
Benefits of Demo accounts
You might ask – what are the benefits of demo accounts if you cannot get any money even if your virtual trades are successful? The man benefit is that you can start trading without any risk and fear of losing any money. It allows you to make decisions based on your calculations only without any emotional decision making and pressure. You can as well develop and try out several strategies and observe which one works best for you. Demo accounts provide a very good environment for those who want to start FX trading without money and without any risks attached to it. It is mostly for the beginners who want to learn more about the trading in the process and plan to start real trading after.
Forex demo contests
If you have already had some experience in Forex trading, or simply want to start and get some earnings with it as well you might want to consider enrolling in Forex contests as it is one of the good opportunities to start Forex trading without a deposit. It is pretty popular among the beginners as well as experienced traders. Demo contests are usually organized by the brokers who want to get additional leads of the traders as well as to ensure the smooth start for the beginners on their own platform. As demo accounts, demo contests are also a very good way for the beginner FX traders to learn in the process of trading and get some prizes as well. The rules are pretty simple – winner takes it all, there are several participants and the one who will be most successful with the trading – is the winner.
How to choose the best demo contest
As it is are a good way for FX trading with no money and a fun activity for traders almost all brokers suggest the demo contests, they vary a lot with the duration and prizes. When it comes to durations it can be from one week to several months. While some of the experienced traders might want to enroll in the long competition for the beginners we would advise to make a choice on the shorter ones, the contests that last from one week to one month. In this case, there is not much commitment needed from our side, also you can see the results faster and hence evaluate your performance short time after to consider your up and downs.
Learning is, of course, important but the prize what drives people most. The prizes can be different as well, starting from $30 to several thousand as well as cars, phones and etc. This is where one should be careful while choosing the contest to enroll in. We suggest for you to choose the contest that offers the cash as after all if you are the winner – it is easier to get. Some of the non-reliable brokers set the withdrawal conditions that are impossible to reach so go for the broker that has very clear withdrawal instructions.
The demo contests are the best for the beginners and experienced brokers that are not ready to invest their money or want to have some fun with the possible outcome of winning the prize. It offers a great possibility to start FX trading with no money, to learn more about trading in the process and try new strategies.
Forex trading no deposit bonuses
If you want to start FX trading without money on a real live account Forex trading no deposit bonus might be the best option for you. Some of the Forex brokers offer a certain amount of the money to their customers or potential clients to start trading. Usually, the amount is not big but is enough to start trading. You might ask why would the broker give the money to someone? It is a great way for brokers to promote themselves and get some new leads for the future as if the new customer has a good experience with trading on their platform there is a great chance that they will continue the trading with them.
How does no deposit bonuses work?
As many brokers offer the no deposit bonuses, first you need to choose the right broker. One of the best ways you can start Forex trading without money with no deposit bonuses is XM $30 no deposit bonus. To get your $30 no deposit bonus you need to register on their platform. During the registration, you need to verify your account with SMS verification.
Thereafter you will receive the $30 bonus on your account. This money is like a loan that you never have to pay back. Sound good right? Tho there are some of the rules that must be followed. The main rule is that you cannot withdraw the money straight away, you need to trade for a while. The good thing is that if you lose – it’s totally fine as you are not losing your money and you do not have to pay anything. If you win after some time of trading you can withdraw the money without any problem. If you want to start Forex trading without money on real account and make money as well no deposit bonuses might be the best option for you.
As for the contests you need to choose the broker carefully here as well. As some of the scam FX brokers are trying to attract customers with good no deposit bonuses to make them lose money so that they will invest more and more.
Also, be sure that you will not mix up any deposit bonuses with deposit bonuses where you actually have to invest a certain amount of money yourself.
Is Forex trading possible without money?
As you see, Forex trading with no money is actually possible and is not difficult. You can choose the best option for yourself based on your current position and your aims. If you are just a beginner and want to try out your skills and see how the trading works – you can go with the demo accounts for some time before you switch to the real one. If you feel confident enough to get into the competition and not only learn but win the prize as well – try out the Forex demo contests. But if you do not want to lose time with simulations and demo accounts but at the same time want to keep your wallet safe from the risks of losing money – start FX trading without money with no deposit bonus where you can trade on live account and do not worry about losing any money.