Economy
Forex No Deposit Bonus 2023 | Types, Pros & Cons, And Who Provides It
Diving into forex trading can be daunting, with many novices facing substantial losses due to inexperience and lack of strategy. Yet, hope isn’t lost as several brokers offer innovative solutions to mitigate these risks.
Traders Union demystifies one solution that’s gaining traction: the Forex no-deposit bonus. Covering the intricacies of the Forex no-deposit bonus 2023, they offer insight into its potential benefits. They elucidate on how it can provide traders with free start-up funds, transforming the forex trading experience.
What is a Forex no-deposit bonus?
Traders Union helps illuminate the concept of a Forex no-deposit bonus, a valuable tool for both novice and veteran traders. This type of bonus:
- Is an incentive offered by brokers to new customers upon opening an account.
- Constitutes a certain amount of money credited by the broker that can be used for trading, thereby reducing risk for the trader.
- Provides a way for traders to get acquainted with the market without worrying about capital loss.
- Is considered by some as an effective means to profit, while others see it as a launching pad for long-term investment.
- Serves as a motivator to become active in the forex market, with some brokers only transferring profits earned with bonus funds after certain conditions are met.
- Is often used by veteran traders to test a new broker’s platform, software, trading instruments, and conditions while preserving their own funds.
No-deposit bonuses without verification: Pros and cons
TU experts highlight the various types of no-deposit bonuses without verification, each with its own set of pros and cons:
Withdrawable bonuses
- Pro: The profit and the bonus itself can be withdrawn.
- Con: The bonus is typically small, verification may still be required for withdrawal, and additional conditions may apply.
Non-withdrawable bonuses
- Pro: The bonus is usually larger, and there are no restrictions on its usage.
- Con: The bonus itself cannot be withdrawn, but the profits gained using it can be.
Bonuses requiring winning back in lots
- Pro: The bonus is substantial, encouraging larger bets.
- Con: Funds cannot be withdrawn until a certain number of lots are traded.
Time-limited bonuses
- Pro: The bonus is substantial and encourages larger bets, making it perfect for active traders.
- Con: Not suitable for low-activity traders as the bonus is retracted after a while.
Bonuses with a merit value limit
- Pro: Allows novice traders to practice with real funds and make some money.
- Con: Limited potential winnings, the bonus ceases to apply after reaching a certain limit.
Asset-restricted bonuses
- Pro: The bonus is substantial, allowing for larger bets.
- Con: The bonus applies only to certain trading instruments.
Bonuses requiring subsequent replenishment
- Pro: There are usually no limits on rates, and the bonus is substantial.
- Con: After reaching certain limits, the account must be replenished to continue using the bonus and/or the won funds.
Top brokers with bonuses
TU analysts have identified the top brokers providing lucrative bonus offerings, elevating the trading experience for their clients.
- RoboForex: RoboForex offers competitive bonuses, enhancing the trading journey with its user-friendly platform and innovative technology.
- InstaForex: Known for generous bonuses, InstaForex excels with its reliable services and diverse range of tradable assets.
- Tickmill: Tickmill stands out with enticing bonus offers, backed by its solid execution speed and transparent pricing.
- Admiral Markets: Admiral Markets boasts a range of bonuses, coupled with advanced trading tools and excellent customer service.
- FBS: FBS offers attractive bonuses, supported by its wide array of trading instruments and user-centric platform.
As Traders Union continues to explore the Forex landscape, it aims to publish regular updates on these top brokers. The objective is to keep traders informed about evolving bonus schemes, allowing them to make the most of their trading experience.
Conclusion
In conclusion, Forex no-deposit bonuses can offer significant advantages for traders, from reducing risk to providing essential practice. Understanding the terms and selecting a reliable broker are crucial steps in this process. As Traders Union continues to publish updated insights, traders can navigate the Forex market with greater confidence. For more info, visit the Traders Union website.
By Aduragbemi Omiyale
Nigeria slightly surpassed its quota set by the Organisation of the Petroleum Exporting Countries (OPEC) in July 2026.
In the month under review, the country produced about 1.57 million barrels of crude oil per day.
It was the third consecutive month Africa’s largest oil-producing nation was meeting its monthly quota, set to stabilise the price of the commodity on the global market by the oil cartel.
Data released by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Wednesday showed that the 1.5 million barrels per day ceiling for Nigeria was surpassed last month.
The agency disclosed in a statement today that the country produced 1.505mbpd of crude oil and 0.17mbpd of condensate, bringing the combined daily production to 1.67mbpd.
In the month under review, the daily peak production of crude oil and condensate was 1.78mbpd, while the lowest daily production was 1.57mbpd.
Although Nigeria met its OPEC quota in the month of July, the statistics show that on a month-on-month basis, production fell by 4 per cent.
This was attributed to the decline in production due to operational challenges experienced at the Erha and Akpo fields, which impacted crude oil output during the period under review.
These disruptions constrained production volumes and contributed significantly to the overall reduction in national crude oil output.
Despite the challenges, production operations across most other producing assets remained relatively stable, with operators implementing measures aimed at maintaining production efficiency and minimising the impact of operational constraints, NUPRC stated.
By Aduragbemi Omiyale
The over 9 billion shares of Lasaco Assurance Plc issued to shareholders of the company via a rights issue have been listed on the Nigerian Exchange (NGX) Limited.
The equities were brought to Customs Street on Wednesday by the organisation, increasing its total issued and fully paid-up share capital.
Lasaco Assurance, which scaled the recapitalisation hurdle of the National Insurance Commission (NAICOM) in July 2026, raised fresh capital from the capital market to shore up its capital base.
The underwriting firm got about N18.5 billion from the rights issue, which involved the issuance of 9,236,321,546 ordinary shares at a unit price of N2.00.
The exercise was on the basis of five new ordinary shares for every existing six ordinary shares held as of the close of business on Friday, February 20, 2026.
Confirming the listing of the additional stocks of Lasaco Assurance today, the Head of Issuer Regulation Department of NGX RegCo, Mr Godstime Iwenekhai, announced in a circular that, “Trading licence holders are hereby notified that an additional 9,236,321,546 ordinary shares of 50 Kobo each of Lasaco Assurance Plc were today, Wednesday, August 12, 2026, listed on the daily official list of Nigerian Exchange Limited.
“The additional shares arose from the company’s rights issue of 9,236,321,546 ordinary shares of 50 Kobo each at N2.00 per share on the basis of five new ordinary shares for every existing six ordinary shares held as of the close of business on Friday, February 20, 2026.
“With the listing of the additional 9,236,321,546 ordinary shares, the total issued and fully paid-up share capital of Lasaco Assurance Plc has now increased from 11,083,585,855 to 20,319,907,401 ordinary shares of 50 Kobo each.”
By Adedapo Adesanya
The Nigerian Insurers Association (NIA) has said the successful recapitalisation of the insurance industry will strengthen the sector’s ability to support financial stability and economic growth.
NIA Chairman, Mrs Ebelechukwu Nwachukwu, said a well-capitalised insurance industry would be better positioned to meet its obligations promptly, underwrite complex and large-scale risks and serve as a dependable pillar of the Nigerian economy.
She made the remarks while commending the National Insurance Commission (NAICOM) for its structured implementation of the new minimum capital requirements under the Nigerian Insurance Industry Reform Act (NIIRA) 2025.
Mrs Nwachukwu said NAICOM’s clear guidelines, systematic verification process, defined timelines and rigorous supervision had provided operators with a credible framework for navigating the recapitalisation exercise.
She described the outcome as a major milestone for the industry and congratulated the 43 insurance and reinsurance companies that have successfully met the prescribed minimum capital requirements.
According to her, the exercise represents “a major win not just for regulators and operators, but for policyholders, investors and the wider Nigerian economy.”
Mrs Nwachukwu said the association would continue to work with NAICOM and other stakeholders to consolidate the gains of the exercise, with emphasis on sustainable industry growth, stronger market conduct and improved consumer confidence.
The official also expressed solidarity with the eight companies still undergoing final verification and regulatory review, urging them to remain confident as NAICOM completes the process within the 14-day review period.
The NIA chairman assured policyholders and the wider business community that the insurance industry would emerge from the recapitalisation exercise stronger, more resilient and better positioned to contribute to Nigeria’s economic development.
