Best No Deposit Bonuses in Uganda for 2025

Common terms and conditions of Forex bonuses

Traders can use the money to trade, but the bonus is usually not withdrawable and any profits made from bonus funds can only be withdrawn once certain conditions have been met. Other common terms and conditions include:

• Forex bonuses are usually only available to new clients.
• They are usually subject to time limits. For example, they might only be made available if the account is validated within 30 days of the registration date.
• The no-deposit bonus is automatically cancelled if a client withdraws money during or after the no-deposit bonus period.
• No-deposit bonuses apply per client, so if a client holds multiple accounts, they are only eligible to receive the no-deposit bonus once in the first account that was registered during the promotional period.
• There might be a limit on the number of no-deposit bonuses that can be granted to family members/per household.
• There are usually conditions relating to withdrawals.
  • For example, you might have to complete a certain number of trades within a set time period, or generate a specified amount of profit.
  • You may also have to trade 10,000 USD, or even up to 100,000 USD, for each 1 USD of the bonus. Such bonuses might be more suitable for regular traders who place dozens of trades a day or who place trades of a large size rather than for beginners.
• You may be restricted regarding the currency pairs you can trade using the bonus.
• You may also be restricted to trading with your bonus on a specific trading platform.

How to choose the best no-deposit Forex bonus

You should consider several factors before choosing to accept a no-deposit bonus. These include:

Regulation: You need to check that the broker is legitimate and trustworthy. Is the broker regulated, and is it authorised to offer services in your country of residence? Check whether it has a regulatory licence and then check with the regulator that licence is valid.

Terms and conditions: Read the terms and conditions of the bonus carefully. Make sure you understand the conditions related to the withdrawal of your profits. The bonus funds are often frozen, either wholly or in part, until these conditions are met. 

Time limits: Bonuses often come with time limits. You may, for example, have 30 days to trade the bonus funds, before it becomes invalid.

Eligible currency pairs: Brokers might limit the use of the bonus to certain currency pairs, again underlining the need to read the conditions carefully.

Bonus amount: Brokers offer different no-deposit bonus amounts. Bonus amounts range from 30 – 150 USD, depending on the broker, so it’s worth shopping around.

Forex bonus advantages

You can practice trading without risking your own money: This is vital, given that Forex markets are highly complex and volatile, subject to sudden changes in price movement. Diving straight into trading your own money and little experience is a recipe for financial disaster. Using a bonus helps you build up your knowledge in a risk-free manner. You should bear in mind that the learning process may take weeks or even months.

Helps you determine how much time, effort and money you want to spend trading: Using a bonus can help you to find out whether you can actually make money trading Forex, and whether it’s something you like doing. It can also help you determine which strategies suit your trading style.

Can regulated brokers offer no-deposit bonuses?

Only some regulators allow brokers to offer no-deposit bonuses. Regulators such as the FCA of the UK have banned the offering of bonuses. Brokers regulated by other offshore brokers allow trading bonuses, but if you have a dispute with the broker, it might be difficult to gain legal redress.

What other types of bonuses do brokers offer?

Brokers offer a variety of bonuses to attract new customers. They include:

Deposit bonus: This bonus can be used to trade and is given by Forex brokers when a trader makes a new deposit into a Forex account. Typical offers include “Deposit 500 USD, and we’ll give you 100 USD” or “We’ll match 100% of your deposit up to 1000 USD.”

Trading or volume bonus: This bonus is related to the volume of trades a trader carries out. To qualify, you will need to have traded the minimum monthly volume within a calendar month, and you will then get a rebate on your trades. It involves trading large amounts of money, so does not apply to beginners. For example, if you trade 300 million USD in a calendar month, you could receive a rebate of 10 USD per million dollars traded, which means your monthly rebate would be 3000 USD.

Cashback: This involves returning a portion of paid commissions to the trader’s account. Some brokers charge a flat commission fee – usually between 5 USD and 10 USD  on each trade. A broker may offer to pay back, for example, 3 USD of the 10 USD commission they charge on a trade.

Referral bonus: Some brokers pay a cash bonus into your account when you refer a friend to their platform.

Can I withdraw profits from the no-deposit bonus?

As mentioned earlier, this is one of the main disadvantages of bonuses. Forex bonus terms vary, but they generally require a trader to trade a substantial sum of money before any withdrawal can be made. You should always check the terms and conditions of the no-deposit bonus and ensure you understand the rules related to withdrawals.

Does the broker need to verify my identity before giving me the bonus?

Yes. You will be required to open an account, verify your email address, and provide the broker with a valid proof of address and identity document to receive the bonus.