Nigerian traders have access to a wide selection of excellent Forex brokers who offer competitive trading conditions and a broad selection of features. 

One of the lesser found options from Forex brokers is a Forex no deposit bonus, also called a welcome bonus, which allows new account holders to essentially start trading on the Forex markets for free. 

Here, we take a closer look at 5 of the best Forex no deposit bonuses available to new traders in Nigeria. 

1. XM $30 No Deposit Bonus

XM’s one-time 30 USD trading bonus is a wonderful place to start for Nigerian newbies searching for a risk-free start in trading. 

The lowest deposit amount at XM is $5, therefore this bonus has the potential to grow your initial investment by six times. However, you can keep any winnings you make after wagering the bonus amount. 

The bonus is credited to your trading account when you open an account. To get this benefit, make sure to register with XM and validate your phone number.

FBS $140 No Deposit Bonus

This No Deposit Bonus from FBS starts at $70 but can be doubled, or levelled up, to $140. In order to cash out your bonus money, you must have traded for at least 20 days. 

As well as a 100% Welcome Bonus that doubles your original deposit, FBS also offers a Cashback Bonus that pays 15 USD each lot traded.

2. HotForex $30 No Deposit Bonus

If you’re new to Forex trading and want a low-cost trading account with a reputable broker, the HotForex $30 No Deposit Bonus is a great fit for you. 

All five trading accounts at HotForex offer this no deposit bonus. Registration with HotForex and proper identification verification are prerequisites in order to claim the bonus.

Additionally, HotForex also offers a SuperCharged bonus. Only deposits of $250 or more are eligible for HotForex’s 100 percent Supercharged Bonus, which doubles a new client’s deposit but only applies to deposits of $250 or more.

3. Tickmill $30 No Deposit Bonus

Tickmill’s Welcome Account is a risk-free, no-deposit trading account that comes with 30 USD in trading capital. It is open to all Nigerians and does not require a full registration or identification verification to register an account. 

You can only keep your Welcome Account active for 60 days and you can’t get your money back, however you can get your money back up to $100 if you make any money. 

The Welcome Account will be terminated if a withdrawal is made. To open a Tickmill Pro Account, the world’s cheapest trading account, you’ll need to make a profit first.

4. InstaForex

InstaForex offers one of the highest no deposit bonuses in the industry, with first-time traders receiving a whopping $500 Start Up Bonus. 

All profits which you make using the $500 no deposit can be withdrawn, however you will only be able to make the withdrawal after having made a first deposit with your own money.