When opening a forex account with a certain broker, the broker usually decides to give certain bonuses so that the account holder can feel more motivated. One of the bonuses given is the “no deposit forex bonus”. This kind of bonus does not need any deposit to be made for there to be a bonus awarded to the new account. Comprehensively, a $20 no deposit forex bonus will mean that the total account equity after activating the account will be $20, which can be used for trading immediately. This usually differs from a normal “deposit bonus” of which a certain percentage bonus will be given for the first deposit made.
The no deposit forex bonus is meant to encourage people to trade forex using real money without having to deposit any funds. In many cases, it fosters trust between the broker and the trader, because the traders usually end up adding more funds into the same account in future.