Pros and cons of Markers.com no deposit bonus for SA traders
Should you start trading with Markets.com no deposit bonus? Markets.com is one of the few international brokerages that are actually licensed and regulated by the South African financial watchdog FSCA. The license gives more reliability to the broker itself and more safety to the investors. However, even with the regulations, Markets.com cannot be considered as the best broker you can trade with as it also has some flaws. The broker also offers a no deposit bonus, but unfortunately Markets.com no deposit bonus is not always readily available for new customers.
Markets.com no deposit bonus description
The broker offers no deposit bonus exclusively to traders from South Africa who are not trading with Markets.com yet. Those who want to start trading with this broker have the possibility to receive Markets.com welcoming bonus when they open a trading account. The amount of the bonus is USD 30 or the equivalent, approximately ZAR 400. South African traders who open an account with the broker will receive the money on their trading account without making an initial deposit. Therefore, those who want to trade but do not want to risk their money have a good opportunity to start a trading career. However, like everything in life, Markets.com free $30 comes with terms and conditions as well. Let’s see what those are so that you can make a well-informed decision.
Markets.com no deposit bonus terms and conditions
As you might already know, no deposit bonuses or generally every kind of bonus a broker gives you are not withdrawable, meaning that you can never cash out the bonus money, as it must be used for trading.
In addition to this, Markets.com 30 USD bonus, just like other bonuses comes with the requirement of trading a certain volume. For every 1 ZAR that you want to withdraw, you need to trade at least 10,000 ZAR.
For 400 ZAR you need to trade 400 X 10,000, which will be 4,000,000. This amount is not that high compared to the requirements some of the brokers have. Therefore it will be possible for you to withdraw all the profits you might get from trading with Markets.com free $30.
How to claim Markets.com free bonus?
- Getting your bonus is also very easy. First and foremost you need to open an account with the broker. Which means that you need to be eligible to hold the trading account.
- The registration takes one minute only and requires you to fill in your email address and set up a password for your account. You should indicate a valid Email address, otherwise, you will not be able to receive your Market.com no deposit bonus, as it needs to be confirmed via that same email.
- Once you register your account you will be asked to provide identity documents – for example driving license, and document that shows your country of residence, for example, a utility bill that was issued in recent 6 months.
- When your account is verified, you will receive an offer for Market.com $30 no deposit bonus. After the confirmation of that offer, the bonus will appear on your account within 24 hours.
Should you get Market.com free $30?
The terms and conditions that Markets.com has for the no deposit bonus are actually good. The trading volume that they request can be fulfilled very easily, which means that Market.com free $30 can be a good starting point for the new traders as well as experienced ones. Setting up an account with the broker is very easy as well, so you can get the bonus without too much hassle and time spent on it.
Unfortunately, the biggest disadvantage of the bonus is that it is not readily available for the traders. While preparing this Market.com no deposit bonus review it was no longer available for SA people and there is no information when it will be. Therefore if you think that $30 free bonus is a good idea for starting Forex trading and you want to do it right away, I would suggest XM $30 no deposit bonus instead, you can read about it here and choose which one is best for you.