How to Trade Without Capital (Beginner’s Guide 2022)

How to Trade Without Capital

How to Trade Without Capital – There are many roads to Rome, there are also many ways to start forex trading. So far, many people think that to start trading forex, you have to spend money first. This assumption is indeed not wrong because generally when you are about to start any trading, you will be asked to make a deposit first.

However, that does not mean trading without capital is impossible.

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Here are some ways to trade forex without capital that beginners can do:

How to trade without capital from scratch

1. Learn to trade independently

The first step is with learn to trade independently. Today there are many trading courses or experienced traders who share their experiences by selling books. You can take various courses and buy the book, but that means you have to spend money to learn.

The alternative is that you can self-study. Many of the best forex brokers provide free educational features on their websites such as etoro, Mitrade etc. In addition, there are also many articles on the internet about trading that you can access for free. Not to mention that you can also borrow trading education books from online and offline libraries.

The advantage of the first option is that you will get exclusive material from experienced traders right away. The drawback is that it is not uncommon for the prices of books, courses or trading seminars to range from hundreds to millions of rupiah.

The advantage of the second option is that you don’t have to spend any money at all. The drawback is often the information shared on the internet is information that is not valid and or is still only general information.

2. Create a demo account

In addition to providing free educational content, brokerage companies also often have a demo account facility that you can open at any time for free. By using this demo account facility, you can try to play trading without fear of losing money because what you are using is counterfeit money provided by the company.

You can also experience the real world of forex trading on a demo account. So, when trading using a demo or trial account, if you lose, you don’t really lose, and if you make a profit, you can’t withdraw money either.

But before you start trading using this account, you have to open an account with the related brokerage company. So make sure you have determined the best forex brokerage company in your opinion before starting to open a demo account.

Take advantage of this demo account to hone your trading skills before you jump straight into a real account. This demo account in the future can also be used to test trading strategies before being applied to real trades.

3. Participate in trading competitions

If you feel that your trading skills are sufficient with a demo account, then now is the time to test your skills by participating in trading competitions. Usually brokerage companies hold this competition to celebrate certain days or simply to invite new traders.

Not infrequently a trading competition is also divided according to the ability of traders from experienced traders to novice traders so you don’t have to worry about having to face more experienced traders.

Prizes for this competition can vary from deposit money, cash, gold, even to motorized vehicles. If the gift is in the form of goods, you can enjoy the gift physically. However, if the item is in the form of a deposit, it is not uncommon for the money to be used only for trading capital and cannot be turned into cash.

4. Create a real account at a broker that offers a no deposit bonus

There are many ways in which a brokerage firm invites new traders into their ecosystem. One of them is by offering a no deposit bonus for new users.

The advantage of this method is that you just open a real trading account at the brokerage company and the company will automatically fill your deposit funds so you don’t have to spend a dime for capital.

The drawback, usually the nominal amount of the bonus offered is small, around a maximum of 100 USD per account and usually the company that offers this bonus is a small company that you should check their credibility again.

To help you identify the brokerage company, here we provide a list of which brokerage companies offer no-deposit trading to their new users:

List of Brokers That Provide Free Forex Trading Capital

Here are 9 names of companies that provide no deposit bonuses that you can enjoy until December 31, 2022.

Broker Bonus Condition Expired date
FBS 140 USD New user December 31, 2022
InstaForex 3500 USD New user December 31, 2022
TemplerFX 30 USD New user December 31, 2022
Seventy Brokers 35 USD New user March 31, 2022
AGEA 5 USD New user December 31, 2022
MKD FX 50 euros New user December 31, 2022
SFEX 50 USD New user December 31, 2022
XSocio 5 USD New user December 31, 2022
Forex Robo 50 USD New user December 31, 2022

There are at least two things you need to pay attention to when choosing a company that offers no deposit bonuses. The first is the prerequisites set by the company.

As noted in the table above, the no-deposit trading policy generally has a certain time limit and is only for new users. So, if you already have an account with one of the companies above, then you cannot enjoy this bonus.

In addition, several brokerage companies also set a prerequisite that users who can enjoy this bonus are only users who come from certain countries. Therefore, before you create an account because you are tempted by a free deposit, you should first check whether you can fulfill the conditions set.

The second thing to think about when choosing a broker that offers a deposit bonus is the legal aspect. Because you live in Indonesia, make sure the broker you choose already has legality from BAPPEBTI or if you want to be a little looser, choose a company that already has legality from credible international financial institutions such as, Financial Conduct of Authority (FCA) from the UK or the Australian Securities & Investment Mission (ASIC). This is because these institutions implement strict policies governing brokerage firms.

Conclusion

Can you play forex without capital? The answer is yes. However, you have to be completely independent and start a career from the bottom, starting from studying on your own (without taking classes or seminars), raising capital from competitions to following the company’s no-deposit trading policy.

The last method is tempting. But remember that forex is a transaction that involves money and is high risk so make sure you work with a credible company.

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