As a forex bonus and forex promotion portal, Forex Penguin aims to be the most comprehensive, forex trading resources website of today and tomorrow. Our philosophy is simple. With the correct tools and up-to-date information, we can help you to minimize risks in forex trading. Forex promotion is a goldmine if it is being used correctly. This site is created especially for you, it doesn’t matter if you are a newbie or an experienced trader. We update the list of brokers, no deposit bonus, deposit bonus, live contest, and also demo contest on a regular basis.
Do visit our site before you make any commitments to any brokers.
Forex Promotion Daily Updates:
Yes, it is a forex promotion daily update. In this section, you will see the latest listing of bonuses as well as contests. Simply click on the title of the category that you are interested in to view the comprehensive list.
Forex No Deposit Bonus
No deposit bonus refers to tradable bonus in the real live forex account given by forex broker to the 1st time forex traders without requiring any new deposit.
In an ideal case, a trader opens a new trading account and then applies for the bonus. The bonus is then given by the forex broker upon fulfillment of certain criteria.
Upon receiving, traders can trade using that bonus and keep whatever profit made from the trading. However, be ready to fulfill the terms and conditions applied. These terms vary from broker to broker.
Examples of these requirements which may be seen as limitations to a trader can be categorized into 3 main phases.
First phase: Acquiring a no deposit bonus:
- Must be 1st-time clients
- Never received any other types of the bonus before
- Nobody from the same residential address received the bonus before
- No sharing of the same computer or IP address with somebody who is already a client of the forex broker
- Verification of identities, residential address, and mobile number required
Second phase: Trading using the no deposit bonus:
- Limited leverage
- Limited lot size
- A limited number of active positions
- Limited bonus validity
- No EA allowed
- Hedging not allowed
- Scalping not allowed
- Limited trading assets
Third phase: Withdrawing The Profits
- Requires an extra deposit
- Requires certain trading volumes
- Requires minimum active trading days
Despite all the roadblocks, we at Forex Penguin dedicate ourselves to work with forex brokers to reduce certain limitations. Penguin Meter (to be released by 2021) will help to identify forex brokers with the highest earning potential for traders.