Trade Smart and Earn Big with FXOpen No Deposit Bonus

Milan Roana: Actually, the minimum deposit if you open the ECN Account at FXOpen is $100, and the leverage that you can get if you trade Forex is at 1:500, which is enough to do the trading in there.

But, I do agree with you, the $10 seems not enough to do the trading with exception if you trade with 0.01 lot and the leverage at 1:500. Because, the margin that you can spend is about $2.17 in EUR/USD (I count with bid/ask price x 1000 unit / 500). And the margin level that you can get is only at 360% which is far from margin call level that usual at 50%.

It means if you trade with the welcome bonuses, indeed you can profit from it but with strict money management! And it is very worth it to get since it is free without need to deposit.

Jayce Lee: First of all, I really agree about the contest which only experienced traders can follow as it is a contest and it is normal for all the contestants and you need to prepare after all

don't feel inferior, you still have time to enter the contest as the contest itself can be opened multiple times and you can even enter after doing demo trading for many years. You still have plenty of time to find your way to success in forex trading.

As for the strategies themselves, it sounds like you need to know which trading style is right for you, be it scalping, day trading, swing trading or position trading. You can read all the details here: 

• The Secrets of Successful Trading
• How to Choose Between Day Trading and Swing Trading
• Beginners Guide to the Position Trading

Also, you can read about emotional control here: The Emotional Tenancy of Succesful Trader

There are many tons of article you can read at here at a guidance or you can instead buy Forex book!

I think besides reading theory, it's better not to be greedy in trading if you want to control your emotions better 

Richie:

Let me explain to you:

The ECN account you see in the review here is actually an account type. But it's divided by Traders' country. For EU traders, UK traders and AU traders have different trading conditions. Therefore, if they open an account, they will be directed directly to the account that matches their country.

Meanwhile, if you are not from Europe, UK and Australia, you will be directed to an ECN account labeled INT. Regarding the FXOpen wallet, it needs to be opened and you have to open it on the website. It's easy to sign up and just follow the steps on the FXOpen website. 

Luinto: So, you were saying that the account type you mentioned is divided according to the regulatory body in charge. So, if you're an Australian trader, you would trade on the ECN AU account type, whereas a European trader would trade on the ECN EU account type, and a UK trader would trade on the ECN UK account type.

Based on your previous comments, it seems that ASIC rules apply to Australian traders, FCA rules apply to UK traders, and CySEC regulations apply to European traders. However, if you're a trader outside of those regulatory bodies, it's unclear which regulatory terms would apply to you. It's possible that you would fall under an offshore regulatory body. So, what regulatory that I will get??

Shaggy: Let me answer dude, If you're not from Australia, Europe, or the UK and you want to trade with FXOpen, you'll probably be under the jurisdiction of the Financial Services Commission (FSC) of the British Virgin Islands (BVI). This means that the rules and regulations that apply to your account will be based on what the FSC says.

But keep in mind that trading with an offshore regulatory body like the FSC can come with some extra risks because their regulatory framework may not be as strong as those in Australia, Europe, or the UK. So just make sure you do your homework and understand what you're getting into before you start trading with FXOpen.

Jourda: If you're working with an equity of just $10 and a maximum leverage of 1:500, you'll only be able to open one position with a trading lot of 0.01. If you try to open more positions than that, you'll likely receive a margin call pretty quickly.

In order to reach a trading volume of 1 lot using micro lots, you'll need to complete around 100 trades. This can be challenging, since every trade carries the risk of losses as well as potential profits.

So, the bottom line is that unlocking the ability to withdraw profits from the no deposit bonus at FXOpen may be difficult, especially since you're working with a limited bonus and the possibility of losses. However, the no deposit bonus can be a great way to practice and improve your trading skills. With strict money management and a bit of luck, it is possible to reach the trading volume required to unlock your profits. But it's important to keep your expectations realistic and remember that the bonus should be seen as a training ground rather than a guaranteed path to significant profits.

protrader122: I completely agree with you! The no deposit bonus at FXOpen can be a bit challenging to work with, especially since the potential for losses is the same as with any other type of trading. It can be tough to reach the 1 lot trading volume required to withdraw your profits using only the no deposit bonus.

If you want to reach that trading volume more quickly, you'll likely need to deposit additional money into your account and open more positions. But when you think about it, that's not so different from regular trading with a deposit, right?

All things considered, I think it's best to view the no deposit bonus as a training ground rather than a guaranteed path to profits. By approaching it in this way, you can focus on improving your trading skills and learning as much as possible without getting too caught up in the pressure to turn a profit. This can help you build a stronger trading psychology and set you up for success in the long run.

@Leroy: As a beginner, it's important to start with assets that are relatively stable and have a lower risk profile. Here are a few options that you might consider:

• Currency pairs: Trading in currency pairs is a good place to start because they are relatively stable and less volatile than other assets. FXOpen offers a wide range of currency pairs, so you can choose the ones that you feel most comfortable with.

• Indices: Another option for beginners is trading in indices, which are collections of stocks that represent a particular market or sector. Indices tend to be less volatile than individual stocks and can be a good way to get exposure to a broad range of assets.

• Commodities: If you're interested in trading in physical goods, then commodities like gold, silver, and oil might be a good option for you. These assets tend to be less volatile than stocks and can provide a good hedge against inflation.

Good luck!

@Nabil: Hey! It's great to hear that you're interested in the no-deposit bonus on the TickTrader platform provided by FXOpen. Regarding the phone verification part of the KYC process, it's important to note that call verification is generally a secure method used by many reputable platforms. During the process, you will typically receive a call to the phone number you provided during registration, and you'll be required to verify your identity or confirm specific details.

In terms of FXOpen's privacy measures, they prioritize the safety and security of their clients' personal information. Reputable brokers like FXOpen implement robust security protocols and encryption technologies to protect sensitive data from unauthorized access or breaches. They adhere to strict privacy policies and comply with relevant regulations to ensure the responsible handling of customer data.