71.2% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. 71.2% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider.
Want to trade stocks, forex, cryptocurrencies, and more without putting any money down? With a no deposit bonus broker, you can! In this guide, we’ll reveal the 10 best no deposit bonus brokers South Africa for 2021.
Let’s take a closer look at the best no deposit bonus brokers South Africa so you can decide which one is right for you.
1. Capital.com – Best Selection of Forex Pairs to Trade at a Bonus Broker
Capital.com is another option for South African forex traders looking for the best forex brokers with a bonus. This brokerage offers 100% commission-free trading on a whopping 142 currency pairs, which means you’ll have no shortage of minor and exotic forex pairs to trade. In addition, Capital.com is a multi-asset CFD broker with over 3,000 shares and dozens of indices and commodities available for trading.
The bonus at Capital.com isn’t entirely deposit-free, but it’s close. You can open an account at this broker with just $20 (300 ZAR). When you place a single trade within 30 days of opening your account, you automatically get $50 (750 ZAR) deposited in your account.
Capital.com doesn’t have a withdrawal fee, so you’re free to withdraw your initial deposit at any time after receiving the bonus money. Just note that you can’t withdraw the bonus money until you’ve made at least $500,000 (7.5 million ZAR) in trades.
This broker is more than just a source of free cash for trading. It’s also a top-tier trading platform that offers a wealth of tools. Capital.com has a custom web and mobile interface with dozens of technical indicators, watchlists, a news feed, and more. It doesn’t support forex signals, which is a downside for more experienced traders, but it does have risk management options like trailing stop orders.
Capital.com is regulated by the FCA and CySEC. The broker offers exceptional customer support, with representatives available 24/7 by phone, email, and live chat.
Trade 142 forex pairs with no commissions
$50 (750 ZAR) bonus after making just one trade
$20 (300) ZAR minimum deposit and no withdrawal fees
2. Libertex - Best Bonus Broker South Africa with MetaTrader 4
Libertex is one of the best forex brokers with a bonus in South Africa. To get started, you must make a minimum deposit of $100 (1,500 ZAR) to open a new account. As you trade and pay commissions, Libertex gives you a 10% rebate on all commissions paid. The limit on how big your bonus can be is based on your initial deposit when you open an account, and can be up to $10,000 (150,000 ZAR).
The bonus at Libertex is closely tied to the broker’s fee structure, which uses fixed commissions instead of variable spreads. While we typically don’t encourage traders to pay commissions, Libertex’s pricing structure is actually very favourable. The trade commission for the EUR/USD forex pair is just 0.008%, which is lower than the 0.01% spread that’s standard for the industry.
Libertex also stands out for giving traders access to the popular MetaTrader 4 platform. This forex trading platform is available for web and mobile, and includes hundreds of built-in indicators. It also supports customisable forex signals and strategy backtesting, and even enables you to code your own technical studies.
Libertex also has its own proprietary trading platform, which you can use to trade shares, commodities, cryptocurrencies and indices with this broker. Libertex carries CFDs for dozens of popular US stocks as well as a wide range of popular cryptocurrencies.
Libertex is regulated by the Cyprus Securities and Exchange Commission (CySEC). The broker offers customer support by email only.
Bonus up to $10,000 (150,000 ZAR) available
Fixed commissions are cheaper than spreads
Includes MetaTrader 4 and MetaTrader 5
Trade stocks, commodities, crypto, and indices
Regulated by CySEC
Minimum $100 (1,500 ZAR) deposit to open account
Bonus size depends on the size of your initial deposit
3. Plus500 - Top Multi-asset Bonus Broker with Ultra-low Spreads
Plus500 is an excellent bonus broker for South African traders who want access to a wide variety of instruments. This platform offers CFDs for 1,900 global shares, 70 currency pairs, 14 cryptocurrencies, and 25 commodities.
Plus500 has some of the lowest spreads we’ve seen in South Africa. The broker charges an average spread of just 0.7 pips (0.007%) for the EUR/USD trading pair and 0.5 pips for the S&P 500 index CFD. On top of that, you can access leverage up to 30:1 at Plus500, so it’s easy to make big bets with just a small pot of money for trading.
This broker helps you get started with a $30 (425 ZAR) no deposit bonus. If you want to add funds to your account, the broker requires a minimum deposit of $100 (1,500 ZAR). We especially like that Plus500 offers ZAR forex accounts and that you can deposit funds using e-wallets like PayPal.
Plus500’s trading platform is easy to use, especially for traders who are just starting out. The platform includes dozens of built-in technical indicators along with a news feed and economic calendar. Plus500 also supports guaranteed stops, which can lock in a sell price even when the market drops suddenly. However, forex traders will want to note that Plus500’s platform doesn’t support forex signals.
Plus500 is regulated by the UK FCA and the Financial Sector Conduct Authority (FSCA) in South Africa. The broker offers 24/7 customer support by live chat and email.
4. AvaTrade - Best South Africa Forex Bonus Broker with Options Trading
AvaTrade is one of the top forex brokers with a no deposit bonus in South Africa. You can sign up with no money down and receive $50 (750 ZAR) instantly. There’s no strings attached, and you can even withdraw the bonus money after placing $10,000 (150,000 ZAR) in trades.
AvaTrade offers 55 currency pairs as CFDs, but what really sets this platform apart is that you can trade forex options. The broker’s custom AvaOptions platform is built specifically for this purpose and gives you the ability to craft complex strategies with multi-option orders. In fact, it comes with a handful of premade strategies that you can use and gives you the ability to generate steady income by writing put and call orders.
This broker also supports MetaTrader 4 and 5, as well as its own proprietary web and mobile trading platform. Having access to MetaTrader is a major plus for more advanced traders as this gives you the ability to trade with forex signals. AvaTrade also has a social trading network, called AvaSocial, where you can connect with thousands of other traders from around the world.
While AvaTrade is built with experienced traders in mind, it offers a handful of educational resources for novices. For example, the broker offers a guide to technical indicators and an introduction to popular technical trading strategies. AvaTrade also has an easy to use demo account and a library of videos to help you dive into trading.
AvaTrade is regulated by the FSCA in South Africa, the Australian Securities and Investments Commission (ASIC), and the Central Bank of Ireland. The broker offers 24/5 customer support by phone, email, and live chat.
$50 (750 ZAR) no deposit bonus
Supports forex options trading with dedicated mobile platform
Integration with MetaTrader 4 and MetaTrader 5
Social trading through AvaSocial
Regulated in South Africa
High inactivity fee ($50/750 ZAR per quarter after 3 months)
5. XM - Best No Deposit Bonus Stock Broker in South Africa
XM offers new traders a $25 (375 ZAR) no deposit bonus with no strings attached. That’s not as generous as what some other brokers offer, but the fact that XM offers accounts with a minimum deposit of just $5 (75 ZAR) is a huge plus. In addition, XM offers accounts denominated in ZAR for trading forex and CFDs.
This broker is one of our top picks for trading stocks in South Africa. The broker carries CFDs for over 1,200 global shares, and South African traders have the option to buy shares outright as well. XM charges a commission of just 0.04% when buying US shares outright, and you can use leverage up to 5:1 when trading shares through CFDs.
XM also carries CFDs for forex, commodities, stock indices, and commodities, but not for cryptocurrencies. Traders can choose between several different account types, which offer spreads as low as 0 pips on major currency pairs.
XM doesn’t have its own trading platform, but instead gives traders access to MetaTrader 4 and MetaTrader 5. These platforms can have a steep learning curve, especially for those who are new to trading. However, for experienced traders, these platforms offer key features like strategy backtesting, customisable alerts, and personalised indicators. XM also has a VPS (virtual private server) available for high-frequency trading.
XM is regulated by CySEC and the International Financial Services Commission (IFSC) in Belize. The broker offers 24/5 customer service over the phone and by live chat.
$25 (375 ZAR) no deposit bonus when you sign up
Commissions as low as 0.04% to buy US shares outright
6. FBS - Specialised Accounts for Forex & Stock Trading with $140 No Deposit Bonus
FBS is a South African forex and CFD broker that offers trading on 37 currency pairs as well as shares, indices, and commodities. The broker charges spreads as low as 0.6 pips for major forex pairs, making it one of the cheapest forex brokers with a no deposit bonus in South Africa.
FBS offers a bonus of up to $140 (2,000 ZAR) when you sign up for an account as part of its Level Up promotion. You get $70 (1,000 ZAR) when you create an account on the web platform, and another $70 when you download and start trading with the FBS mobile app.
One neat thing about FBS is that the broker offers 5 different types of accounts to meet the needs of every trader. The account options differ in how much you have to deposit (from $1 or 15 ZAR with a Cent account), the amount of leverage you can apply to your trades (up to 3,000:1), and whether you pay based on fixed or floating spreads.
Another nice thing about FBS is that the broker supports copy trading through the MetaTrader 4 platform. FBS also offers its own custom web and mobile trading app, called FBS Trader, as well as MetaTrader 5.
FBS is regulated by CySEC and the broker offers 24/7 customer support by phone and email.
$140 (2,000 ZAR) bonus with no deposit
Forex spreads as low as 0.6 pips
Choose from 5 different account options
Supports copy trading with MetaTrader 4
24/7 phone and email support
Complicated pricing structure mixes spreads and commissions
7. FP Markets - No Deposit Bonus Forex Broker with Social and Auto Trading Features
FP Markets is an Australian CFD broker that offers forex trading, stock trading, index trading, and commodity trading. The broker offers a Welcome Pack for new traders that includes $30 (450 ZAR) with no strings attached.
This broker offers a huge range of tools, which makes it very appealing for advanced forex traders in South Africa. The broker has 3 different trading platforms to choose from: MetaTrader 4, MetaTrader 5, and Iress. Iress is a direct market access (DMA) trading platform that comes with 59 technical indicators, highly customisable chart layouts, and advanced order management options.
FP Markets also gives you access to Myfxbook Autotrade, an algorithmic trading platform that integrates with MetaTrader 4. This integration is easy to use for first-time auto traders, and it enables you to track your performance and identify weak spots over time.
In addition, FP Markets supports copy trading through MetaTrader 4 and 5. There is no limit on the number of providers you can copy, and you can turn individual traders on or off at any time to customise your trading even while copying.
FP Markets is regulated by ASIC in Australia. The broker only offers customer support during trading hours.
8. TemplerFX - Best Offshore Broker with No Deposit Bonus
TemplerFX is an offshore forex broker that offers a $30 (450 ZAR) bonus simply for opening an account. You don’t have to deposit any of your own funds, just verify your identity and start trading.
TemplerFX also offers some other promotions, including a loyalty bonus when you make a deposit. For every year you’ve held an account with this broker, you’ll get an extra 1% added to your deposit.
Before you start trading with TemplerFX, it’s important to note that this broker isn’t regulated by any financial authority. That means that there are no protections like negative balance protection or a guarantee of your funds in the event that the broker goes out of business. We generally only recommend regulated brokers because of the safety they provide, but TemplerFX’s sign-up bonus is an attractive offer.
One advantage to trading with an unregulated broker is that TemplerFX is not subject to leverage limitations. With this broker, you can trade major forex pairs with leverage up to 1,000:1 and share CFDs with leverage of 50:1. Currency pairs are typically traded in lots of 100,000.
TemplerFX offers its own proprietary trading platform, as well as integrations for MetaTrader 4 and MetaTrader 5. The broker offers customer support by phone, email, and live chat.
$30 (450 ZAR) no deposit bonus
1% loyalty bonus for every year you’ve held an account
9. EMD Finance - Best Forex Broker with No Deposit Bonus for High Leverage
EMD Finance is a global CFD broker that offers trading on shares, forex, commodities, and cryptocurrencies. The platform stands out for offering very high leverage, up to 500:1, for forex trading and gold trading. In addition, EMD Finance charges no commissions with a standard trading account and spreads start as low as 0.1 pips.
This brokerage makes it easy to get started risk-free thanks to a $25 (375 ZAR) no deposit bonus. All you have to do is verify your identity to open an account, and you can start trading with the funds right away. You must trade at least 20 lots with EMD Finance before you are able to withdraw the bonus money.
EMD Finance only offers the MetaTrader 5 trading platform, although that’s hardly a problem since that’s the preferred platform for most advanced traders in any case. However, the broker doesn’t offer a news feed, economic calendar, or custom trading signals to help you get off the ground. So, it can be hard for newer traders to break into forex with this brokerage.
All EMD Finance accounts come with negative balance protection, which is a plus given the high leverage this broker offers. In addition, the broker allows you to open ECN (Electronic Communications Network) accounts for faster trade execution and offers Islamic accounts that eliminate swap charges.
EMD Finance is regulated in St. Vincent and the Grenadines. The broker does not offer customer support.
Bonus is matched to initial deposit, up to $10,000
Must place a trade
How to Choose the Right Bonus Broker for You
Choosing the best no deposit bonus broker in South Africa depends on a few different factors. Let’s take a look at the most important ones you need to consider.
The best place to start when considering a bonus broker is to look at whether it’s regulated and by what agency. All of the brokers we highlighted, except for TemplerFX, are licensed and regulated by governmental agencies. Top regulators include the UK’s FCA, CySEC, the FSCA in South Africa, and ASIC.
Bonus Size and Rules
The size of the bonus being offered is extremely important. Most brokers offer only a small bonus to encourage you to get started and to enable you to try out the platform risk-free. However, some offer much larger bonuses - for example, with Libertex, you can qualify for up to $10,000 in bonus funds.
In addition, be sure to study the rules for how to get the promised bonus closely. No deposit bonus brokers enable you to get the funds just by signing up and verifying your identity.
Other bonus brokers may require you to make a minimum deposit, and then release your funds only after a certain number of trades. In some cases, the size of your bonus may be linked to your trading volume or initial deposit.
The types of assets you can trade is another factor to consider when choosing a bonus broker in South Africa. No deposit bonuses are common among forex brokers, but many of the brokers we highlighted also offer trading on shares, commodities, indices, and cryptocurrencies. AvaTrade also offers forex options trading, which few other bonus brokers enable.
Carefully consider what you plan to trade and whether a prospective broker offers that instrument. In addition, it’s a good idea to look at how much leverage you can trade with and what your costs for trading a given asset class will be.
A broker’s trading platform is extremely important, since this is what you’ll use not only to place trades but also to run analyses and make big trading decisions.
Many of the brokers with a bonus that we reviewed support the MetaTrader 4 and MetaTrader 5 trading platforms, which are highly popular among forex and CFD traders. They offer customisable charts, forex signals, and strategy backtesting.
However, some brokers have their own proprietary trading platforms that can be just as powerful and offer some unique features.
How to Get Started with a Bonus Broker
Ready to start trading with one of the bonus brokers in South Africa? We’ll show you how to claim your bonus with Capital, which offers $500 when you trade $5,000 worth of cryptocurrency.
Let’s take a closer look at how you can get started:
Step 1: Create an Account
The first step to trading with Capital is to create a new account. You can join using the Capital.com website or by downloading the mobile app.
Just click or tap ‘Join Now’ and enter your name and email to create a new account. You can also sign up using your Google or Facebook login information.
Step 2: Verify Your Identity
In order to comply with the FCA’s anti-money laundering regulations, Capital requires you to verify your identity. Upload a copy of your driver’s license or the photo page of your passport. You will also need to upload a copy of a proof of address, such as a financial statement or utility bill.
Step 3: Fund Your Account
Capital does require you to make a deposit before you can access your bonus. The broker requires a minimum deposit of $200 (3,000 ZAR), which you can pay by credit card, debit card, bank transfer, PayPal, Neteller, or Skrill.
Step 4: Start Trading Cryptocurrency
To start trading cryptocurrency, head to the Capital dashboard and search for the coin you want to trade. Click on the digital currency when it appears and then click ‘Trade’ to open a new order form.
In the order form, enter the amount of money you want to trade (you must trade at least 750 ZAR). Then select how much leverage you want to apply to your trade, up to 2:1, and select a stop-loss price and take-profit price according to your trading strategy.
When your trade is ready, click ‘Open Trade’ to execute your order. Once you reach $5,000 in cryptocurrency trading volume, Capital will automatically deposit the bonus in your account.
Best No Deposit Bonus Brokers South Africa - Conclusion
Opening an account with a no deposit bonus broker allows you to start trading immediately without risking any of your own money. Plus, many of the best no deposit bonus brokers in South Africa allow you to trade multiple assets, including stocks, forex, commodities, cryptocurrencies, and more.
Ready to get started with the best no deposit bonus brokers South Africa? Click the link below to open an Capital account.
Capital - Best No Deposit Bonus Broker in South Africa
67% of retail investor accounts lose money when trading CFDs with this provider.
Can I withdraw the bonus money from a no deposit bonus broker?
You can withdraw the bonus money from your bonus broker, but only after reaching a certain trading volume. The required trading volume varies by broker, but is typically 5-20 lots for forex trading.
Do I have to pay back bonus money if I lose it while trading?
No, you do not have to pay back bonus funds if you lose them trading. However, most brokers only offer a single bonus, so you will have to deposit your own funds to continue trading.
What assets can I trade with a no deposit bonus broker?
Many of the best brokers with bonus promotions in South Africa allow you to trade CFDs for stocks, forex, commodities, indices, and cryptocurrencies. Some, like Capital, allow you to trade stocks and cryptocurrencies outright.
Are no deposit bonus brokers regulated?
All of the best bonus brokers we highlighted, with the exception of TemplerFX, are regulated by financial watchdogs.
Do bonus brokers require a deposit to open an account?
Many bonus brokers in South Africa don’t require you to deposit your own funds in order to open an account and start trading. However, some brokers do require you to make a deposit and give you your bonus afterwards.
About Michael Graw
About Michael Graw
Michael Graw is a freelance journalist based in Bellingham, Washington. He covers finance, trading, and technology. His work has been published on numerous high-profile websites that cover the intersection of markets, global news, and emerging tech. Michael has also written for TechRadar, Tom’s Guide, StockApps, Buyshares and LearnBonds.