No deposit Forex bonuses in Kenya | Choosing the Right Bonus
Forex is a thriving industry in Kenya attracting trillions worth of investment every year. Many Kenyans have already made a steady living out of currency trading while a growing number of spectators are interested to break into the industry.
There are a number of ways to get into Forex in Kenya, and many Forex brokers offer a variety of bonuses to attract new clients into their platforms.
Everything to Learn About No Deposit Bonuses in Kenya
Perhaps the most searched type of deposit among Kenyan traders, no-deposit bonus does not require a user to shed an initial capital to receive a reward.
These funds are automatically deposited into the trader’s account upon account registration and can be used instantly for trading.
This program is enticing especially for beginner investors in Kenya with little to no capital to fund their positions. In fact, there are many traders who successfully grew their no-deposit bonuses with good strategy and luck.
Deposit Bonuses are Still a Thing
Meanwhile, a deposit bonus is another popular program among Forex brokers in Kenya, where a trader receives an additional fund after funding their account.
Leading Forex traders, such as RoboForex, have attainable minimum deposit requirements going as low as $10, which makes the deposit bonus easy to claim.
With deposit bonuses, the profit potential increases alongside the additional fund – the bonus adds a ‘buying power’ to one’s portfolio, playing a critical role in scaling trading positions in Forex.
On the other hand, it is worth noting that some platforms require traders to meet a number of conditions before deposit bonuses can be withdrawn from their accounts. Moreover, there have been cases in the past when a deposit bonus had been taken back by the broker after the trader failed to meet agreed conditions.
No Deposit Forex Bonuses in Kenya by Traders Union
With its growing popularity among local traders, several Forex brokers offer no-deposit bonus programs in Kenya. “Even Forex traders who are already trading for years in the Forex market continue to look for these types of rewards to grow their profit potential without spending a capital,” told Traders Union.
RoboForex is known to offer the best no-deposit bonus in Kenya, giving out a bonus valued at $30 which can be used to trade for profit upon registration. On the other hand, this reward cannot be withdrawn immediately as it is meant to be used to grow one’s trading positions for a long-term career.
InstaForex also has an attractive no-deposit bonus which goes as high as $2000 alongside FBS’ no-deposit reward which goes as high as $140 for those who registered through their app.
Other platforms with attractive bonuses in Kenya are XM, Tickmill, FxOpen, and Libertex, with the latter currently offering a 100% deposit bonus for deposits starting at $100.
Kenyan traders are likewise eligible for welcome bonuses. AvaTrade offers a 20% bonus for every trader’s first $1000 deposit, while TeleTrade’s rewards start at $1,000.
Can No Deposit Bonuses be Withdrawn?
The short answer is no. Unfortunately for traders seeking to make instant cash out of registration, Forex no-deposit bonuses cannot be withdrawn.
For a good reason, brokers give out bonuses for the primary purpose of encouraging new users to keep using their platforms.
On the upside, these bonuses can be used for trading. This means that in cases when a trader successfully makes a profit out of their deposit bonuses, they will be eligible to withdraw their funds without frills.
General advice: do not attempt to withdraw bonuses. Instead, use these as a way to increase positions. These bonuses can grow immensely with the right trading strategy.
Choosing the Right Forex Bonus
There is a never-ending list of Forex brokers with attractive bonuses, making it a hard choice to select which one to go for. Here are some pointers to keep in mind before registering for one.
Look for personal alignment. No matter how attractive a platform’s bonus program is, the best choice will always be the one that best serves your unique trading strategy. Do you need a welcome bonus? Or a no-deposit bonus is perhaps more suitable for your strategy? These are just some of the questions to ask when starting to scout for one.
Know that you are never running out of options. Forex brokers will always have something exciting coming up in every period. Worrying about running out of time to receive a bonus is a myth.
Always settle for a trustworthy broker. A regulated, trustworthy, and reputable broker is worth more than a lucrative, over-promising deposit bonus after all. Check out for more info on the broker’s history and track record on trusted trading portals like Traders Union.
This article was written by Oleg Tkachenko, who specializes in analyzing commodity markets, Forex, stock markets, and non-standard investment markets (cryptocurrencies, hype, peer-to-peer lending).
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