Forex trading is common in Nigeria because of the potential for high returns on even a modest initial investment. This is a highly risky way to make money, but the dangers are manageable.
A trader can enter the interbank market, but only under the terms set by his broker. These terms and conditions often include Forex bonuses, which are additional monies received by the trader in return for opening an account.
This article will compare and contrast the top Nigerian Forex brokers offering signup and no-deposit bonuses.
1. TeleTrade Welcome Bonus
The
Welcome Forex Bonus at TeleTrade might be as much as 100% of your first deposit. In addition, TeleTrade has a unique programme called the Bonus of 24%.
Traders can increase their annual return on investment by 24% with the help of this bonus. TeleTrade is a credible option among brokers that offer no deposit bonuses.
2. RoboForex Profit Share Bonus
RoboForexs Profit Share bonus is extremely popular in Nigeria. Its necessary to sign up, get verified, and put down a ten dollar deposit. A trader can activate the bonus and get 60% of the deposit amount after the funds have been credited. The highest possible incentive is $50,000. You can cash out your bonus money at any time.
3. InstaForex Forex Welcome Bonus
When it comes to the foreign exchange market, InstaForex is well regarded as a leading broker that provides outstanding service. Traders may start making deals immediately with this alluring feature in place, as they have access to a substantial $1,000 Forex welcome bonus to use as their starting capital.
In addition to this one-of-a-kind offer, all first-time depositors will receive a 100% Bonus. It bears repeating that this bundle has a hard maximum value of $2000.
4. XM Various bonuses
XM offers numerous incentives and bonuses to its traders. The Welcome Bonus is one of the features they provide. Depending on the clients nation of residency, the value of this bonus could be anything from $30 to $5000.
You can trade Forex and CFDs with the bonus money. There are, however, restrictions that must be met before any earnings made with the help of this welcome bonus can be withdrawn. In addition, XM provides a Deposit Bonus of 10%-50%, subject to the clients country of residence.
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Open a Free Trading Account Now5. Tickmill Welcome Bonus
If youre looking for a broker that will provide you a bonus with no initial investment in Nigeria, Tickmill is a great choice. Signing up for a trading account is made all the more attractive by the $30 Welcome Account they provide all new customers.
However, only new customers from non-restricted countries are eligible for this offer. Traders accounts must be verified before they can receive bonus funds.
Final Thoughts
Nigerias Forex market is friendly, and newcomers are eligible for a no-deposit incentive. These brokers make it possible to add to or perhaps significantly raise your initial investment with no additional outlay of cash on your part.
As with any broker-offered perk, though, there are usually caveats. Thats why, before accepting any Forex bonus, you should weigh its benefits against its drawbacks.
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