A real forex no-deposit bonus gives eligible traders promotional trading credit without requiring them to fund the account first. The problem is that there are far fewer active offers for South Africans than many broker comparison pages make it seem.
Our strongest verified South Africa-focused option right now is Headway's Bonus $150. Headway advertises the promotion on its South African website and lists JAROCEL PTY LTD as an FSCA-authorised entity under FSP 52108.
The offer starts with $15 in promotional trading credit and can increase to $150 if you meet the required trading activity. You cannot withdraw the bonus itself. Profit withdrawals are also limited, with eligible profit capped at $100.
InstaForex currently advertises a $1,000 StartUp no-deposit bonus as well, but this is an offshore offer. If you're registering from South Africa, check that you're actually eligible before treating the bonus as available to you.
We reviewed ten brokers commonly linked to no-deposit, welcome and sign-up bonuses. We labelled each offer as one of the following:
- Verified no-deposit offer
- Deposit required
- Current offer not verified
Bonus terms can change quickly. So can country restrictions. Check the broker’s official promotion page before opening an account.
What Is the Best Forex No-Deposit Bonus in South Africa?
The best forex no-deposit bonus in South Africa is the one that is easy to claim, available to South African traders, and clear about what you can and cannot withdraw.
XM is one of the most popular choices because many traders search for its $30 no-deposit bonus. Other brokers may offer $50, $88, $100, $200, $500, or even larger bonuses, but bigger does not always mean better.
🏆10 Best Forex Brokers in South Africa
| Rank | Broker | Broker Review | Regulators | Minimum Deposit | Visit Broker |
|---|---|---|---|---|---|
| 🥇 |  | Read Review | ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA | $100 | Visit Now |
| 🥈 |  | Read Review | FSCA, FCA, DFSA, FSA, CMA | $0 | Visit Now |
| 🥉 |  | Read Review | CySEC, IFSC, DFSA, FCA | $5 | Visit Now |
| 4 |  | Read Review | ASIC, CySEC, FSA, SCB | $0 | Visit Now |
| 5 |  | Read Review | BVI FSC | $0 | Visit Now |
| 6 |  | Read Review | FSA, FSC, FSCA, ASIC, CMA | $20 | Visit Now |
| 7 |  | Read Review | CBCS, FSA, FSCA, CMA | $10 | Visit Now |
| 8 |  | Read Review | ASIC, CySEC, FSCA, FSA, FSC, CMA | $100 | Visit Now |
| 9 |  | Read Review | CySEC, MWALI, FSCA | $25 | Visit Now |
| 10 |  | Read Review | FSA, CySEC, FSCA, FSC | $10 | Visit Now |
Are Forex No-Deposit Bonuses Really Free?
A no-deposit bonus is free to claim, but it usually comes with conditions.
In most cases, the broker gives you trading credit. You can use that credit to place trades, but you normally cannot withdraw the bonus itself. Some brokers allow you to withdraw profits made from the bonus, but only after you meet their rules.
Important for South African traders:
A broker being “regulated globally” is not the same as being FSCA-authorised in South Africa.
Before claiming a forex no-deposit bonus, check the exact legal entity that will hold your account, its FSP number if applicable, and whether the bonus terms apply to South African residents. Offshore regulation may offer less local recourse if withdrawals, bonus disputes, or account closures occur.
10 Best No Deposit Bonuses in 2026 - A Comparison
| 🔎 Broker | Claim Sign Up Bonus | Advertised promotion | Trustpilot Rating | Available to SA traders? | Deposit required? | Profit withdrawals |
| InstaForex | 👉Open Account | No‑deposit bonus up to $1,000 or even | New clients | Yes / verify country eligibility | No initially | Profits may be withdrawn only after satisfying the agreement. A real deposit may be required, and an unfunded account can be converted to demo status after seven days. |
| RoboForex | 👉 Open Account | $30 No Deposit Bonus | New clients | Yes / verify current eligibility | Yes — minimum $10 | Deposited funds and qualifying trading profits can be withdrawn; the broker may remove the bonus at stop-out or under program rules. |
| SuperFin | $30 No Deposit Bonus | New clients | Yes / verify current eligibility | Not verified | Not verified | |
| XM | 👉Open Account | $30 no-deposit / welcome bonus | New clients, subject to country eligibility and XM terms | Yes / verify current SA eligibility | No | Profits may be withdrawn subject to verification, withdrawal rules and applicable trading conditions. |
| FBS | 👉Open Account | $70 no‑deposit bonus | New clients | Yes / verify current SA eligibility | Not applicable | Not verified |
| xChief | 👉Open Account | $100 no deposit bonus | New clients | Yes / verify current SA eligibility | No | Profits and qualifying bonus funds are subject to volume requirements, account verification and the promotion rules. |
| Headway | 👉 Open Account | $111 USD No Deposit Bonus | New clients | Yes | No | Profit-withdrawal limits and turnover rules depend on the regional promotion terms. The bonus account is generally available for seven days. |
| Tickmill | 👉Open Account | $30 No-Deposit Welcome Account | New clients | Yes / verify region restrictions | No initial deposit for the Welcome Account | Eligible profits can be transferred to the client’s Tickmill wallet and withdrawn. Promotion limits and verification requirements apply. |
| FreshForex | $50 No-Deposit Bonus | Eligible new clients | Verify availability during South African registration | No | FreshForex states that profits may be withdrawn, subject to identity verification, trading-volume requirements and the complete promotion terms. | |
| Grand Capital | 👉Open Account | $500 Forex No-Deposit Bonus | New clients | Yes / verify current SA eligibility | No to claim the trading credit; a later deposit is needed to convert profits | A deposit equal to the profit is required, and profits are converted according to the broker’s volume formula. |
Verification note: Promotions can change by country, account entity, and registration date. “Available to South Africans” means the broker serves South African residents or advertises the offer internationally; eligibility should still be confirmed during registration. It does not mean the broker or promotion is FSCA-approved.
How we verify forex bonus offers
We check every offer against the broker’s official promotion page and the full terms and conditions.
That means confirming the advertised bonus amount, which countries qualify, what verification is required, the minimum deposit, when the offer expires, and whether the bonus or any profits can actually be withdrawn.
We also check regulation separately. A broker may hold a licence in another country, but that does not mean the legal entity handling a South African client’s account is authorised by the FSCA.
Before opening an account, check the broker’s exact legal entity and licence number on the relevant regulator’s public register.
Last checked: 13 August 2026.
10 Best Forex Brokers with a No Deposit Bonus (2026)
- InstaForex – $5 No-Deposit Bonus for Eligible New Clients
- RoboForex – $30 Deposit-Required Welcome Bonus
- SuperForex – Current No-Deposit Offer Not Verified
- XM – $30 No-Deposit Trading Bonus
- FBS – Current No-Deposit Bonus Not Verified
- xChief – $100 No-Deposit Bonus
- Headway – $150 Bonus Account
- Tickmill – $30 Welcome Account, Not Available in South Africa
- FreshForex – offers a $50 no-deposit welcome bonus
- Grand Capital – $500 Seven-Day No-Deposit Bonus
1. InstaForex
InstaForex currently advertises a $5 no-deposit bonus for eligible new clients in selected regions. Applicants must open an account and complete verification through the InstaForex app before the bonus is credited. InstaForex is a forex broker with a $1 minimum deposit.
The amount and availability may vary by country, so South African traders should confirm the current offer before registering.
Features
| ✅ Aspect |  |
| 🎁 Bonus offer | $5 no-deposit bonus; amount and availability may vary by region |
| 🎯 Eligibility | Eligible new clients, subject to the official promotion terms and regional availability |
| 📂 Eligible Account for Sign-up Bonus | Confirm the eligible account type during registration |
| 📝 Sign-up Bonus Withdrawal Eligibility | After meeting certain trading volume requirements |
| 🕐 Bonus Expiry | Confirm the current expiry or cancellation conditions in the official terms |
| 🏛️ Regulatory Status | Licensed by the British Virgin Islands Financial Services Commission (FSC) under license number SIBA/L/14/1082 . |
| 🔓 Withdrawal Conditions | Profits from the bonus can be withdrawn after executing buy or sell trades totaling X 25 InstaForex lots, where X is the total bonus amount received. |
| 🧠 Bonus Terms Update | Promotions and terms are subject to change; users are advised to verify the latest details on the official website . |
| ⭐ User Ratings | Mixed reviews: Some users praise the platform's features and customer support, while others express concerns about withdrawal processes and regulatory oversight . |
| 📞 Support | 24/7 multilingual customer support available via chat, email, and phone . |
| 🧾 Account Verification | Verification through the InstaForex app is required before the current $5 bonus is credited |
| 🔍 Additional Notes | Bonus availability may vary by region; certain countries may be excluded from the promotion . |
| 📝Sign up | 👉Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Low minimum deposit (starting at $1) | Limited regulation (primarily CySEC, BVI FSC) |
| Wide range of trading instruments (Forex, stocks, commodities) | No guaranteed payout (GP) for trading indices or stocks |
| Multiple account types (including PAMM accounts) | Swap fees apply for overnight positions |
| Offers demo account for practice | Inactivity fee ($10 after 12 months of no trading) |
| Negative balance protection | Complex fee structure may be unclear to beginners |
| Two-step authentication for added security | Limited customer support availability during peak times |
| User-friendly trading platform (MetaTrader 4 & 5) | No VPS hosting for traders |
| Educational resources available for beginners | Withdrawal fees may apply depending on the method |
| Affiliate and IB programs available | Not suitable for U.S. clients |
| Responsive customer support (live chat and email) | No support for accounts in local currencies (ZAR, etc.) |
Our view
InstaForex deserves a place on this list, but there is no single bonus amount that applies to everyone.
Use the figure shown in your own account, not the largest number quoted on an affiliate site.
Does InstaForex provide a welcome bonus with no deposit required?
Yes, InstaForex is known for offering various no-deposit bonuses like $1000 or $1500. These allow new clients to test trading conditions with real profit potential.
How can I withdraw profits from InstaForex’s no-deposit bonus?
You can withdraw profits after completing the required trading lots. InstaForex may set limits on profit withdrawals, so it's important to read the bonus agreement carefully.
How we checked the offer: We reviewed the broker’s official promotion page and bonus terms, including the advertised amount, verification steps, eligibility rules and withdrawal conditions.
We did not fund an account or complete a live withdrawal test. Approval and payout results may therefore vary depending on the trader’s country, account type and legal entity.
2. RoboForex
RoboForex offers eligible new clients a $30 welcome bonus. This is not a true no-deposit bonus because users must register an eligible Pro or ProCent MT4/MT5 account, complete identity and phone verification, and make a qualifying $10 deposit before the bonus is credited.
Features
| 🔎 Broker |  |
| 📉 Regulation and Licenses | FSC |
| 🎁 Bonuses | $30 welcome bonus cashback rebates |
| ⏰ Support Hours | 24/7 |
| 📊 Trading Platforms | MetaTrader 4, MetaTrader 5, R MobileTrader, R StocksTrader |
| 🖱️ Account Types | Prime, ECN, R StocksTrader, ProCent, Pro |
| 🪙 Base Currencies | USD, EUR |
| 📌 Spreads | From 0.0 pips |
| 📍 Leverage | 1:2000 |
| 💴 Currency Pairs | 40 minor, major, and exotic pairs |
| 💵 Minimum Deposit | 10 USD |
| 💶 Inactivity Fee | None |
| 🤝 Affiliate Program | Yes |
| 📈 Scalping | Yes |
| 📉 Hedging | Yes |
| 📊 Trading Instruments | Forex, stocks, indices, ETFs, commodities, metals, energy commodities |
| 📝Sign up | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Low Trading Fees | Limited range of instruments |
| Variety of Trading Platforms | Not FCA Regulated |
| Comprehensive Education | Reports of occasional slow execution speeds |
| Copy Trading | Lacks in live webinars |
| 24/7 Customer Support | Several non-trading fees apply |
Our view
RoboForex is an alternative for traders who are prepared to fund the account with at least $10 or €10.
It should not be promoted as a true no-deposit option.
Does RoboForex offer a no-deposit bonus?
No. RoboForex’s $30 welcome bonus requires eligible new clients to verify their account and make a qualifying $10 deposit. It should therefore be classified as a deposit-required welcome bonus rather than a no-deposit offer.
Is RoboForex regulated and safe to trade with?
RoboForex is regulated by the IFSC in Belize and offers negative balance protection. While it's not tier-1 regulated, the broker provides fund security measures like segregated accounts and insurance, making it relatively safe for retail traders.
How we checked the offer: We reviewed the broker’s official promotion page and bonus terms, including the advertised amount, verification steps, eligibility rules and withdrawal conditions.
We did not fund an account or complete a live withdrawal test. Approval and payout results may therefore vary depending on the trader’s country, account type and legal entity.
3. SuperFin
All clients can benefit from a 30% trade bonus on every deposit, enabling them to trade in larger volumes and potentially increase their earnings. This bonus is available for all account types and can be applied to a wide range of assets, including metals and indices.
Features
| ✅ Aspect | SuperFin |
| 🎁 Bonus Offer | 30% Bonus Get an additional incentive to trade in the form of an extra 30% to each deposit. |
| 🎯 Eligibility | New clients who have not opened an account before |
| 📂 Eligible Account for Sign-up Bonus | Standard, Classic, or ECN accounts |
| 📝 Sign-up Bonus Withdrawal Eligibility | After meeting certain trading volume requirements |
| 🕐 Bonus Expiry | The bonus is typically valid for 180 days after this period, the bonus and any profits may be canceled . |
| 🏛️ Regulatory Status | Regulated by the International Financial Services Commission (IFSC) of Belize; however, this is considered a Tier-3 regulator, offering limited oversight |
| 🔓 Withdrawal Conditions | Profits from the bonus can be withdrawn after meeting specific trading volume requirements and completing all buy or sell trades; account verification is mandatory |
| 🧠 Bonus Terms Update | Promotions and terms are subject to change; users are advised to verify the latest details on the official website |
| 🧾 Account Verification | Account verification is required before claiming and utilizing the bonus |
| ⭐ User Ratings | Mixed reviews Some users praise the platform's features and customer support, while others express concerns about withdrawal processes and regulatory oversight |
| 📞 Support | 24/7 multilingual customer support available via chat, email, and phone |
| 🔍 Additional Notes | Bonus availability may vary by region; certain countries may be excluded from the promotion |
| 📝Sign up | 👉Open Account |
Pros and Cons
| ✅Pros | ❌Cons |
| Regulated | Offshore regulation |
| Social trading supported | Only one trading platform supported |
| MetaTrader 4 supported | Spreads are not the tightest in the industry |
What is SuperFin's current no-deposit bonus offer?
30% Bonus: Get an additional incentive to trade in the form of an extra 30% on each deposit. SuperFin is dedicated to providing customers with exclusive offers to enhance their trading experience. All clients can benefit from a 30% trade bonus on every deposit, enabling them to trade in larger volumes and potentially increase their earnings.
Are there trading conditions attached to the SuperFin bonus?
Yes, to withdraw profits earned from the no-deposit bonus, you must meet specific lot trading requirements. Bonuses are subject to verification and promotional terms.
How we checked the offer: We reviewed the broker’s official promotion page and bonus terms, including the advertised amount, verification steps, eligibility rules and withdrawal conditions.
We did not fund an account or complete a live withdrawal test. Approval and payout results may therefore vary depending on the trader’s country, account type and legal entity.
4. XM
XM is a well-established Forex Services provider that offers access to 1000+ Trading Instruments, 247 Trading Crypto CFDs, 1000:1 Leverage, and a Bonus of Up to USD 5000. XM offers all new clients access to a USD 30 Trading Bonus. No deposit is required to claim the bonus, which will be automatically credited to the trader's account.
Features
| 🔍 Feature | XM |
| 🎁 No Deposit Bonus | $30 free no deposit bonus available for new clients. |
| 📂 Eligible Account for Sign-up Bonus | Standard or Micro account |
| 📝 Sign-up Bonus Withdrawal Eligibility | Must meet a minimum trading volume requirement |
| ⏳ Bonus Expiry | Must claim within 30 days of registration. |
| 📜 Terms & Conditions | Bonus is not withdrawable; profits can be withdrawn after meeting conditions. |
| 💳 Minimum Deposit (Post-Bonus) | No deposit required for the bonus. Later trading requires a minimum of $5. |
| 🔒 Regulation | FSCA (South Africa), CySEC, ASIC, IFSC – strong global regulation. |
| 🔄 Withdrawal Conditions | Profits can be withdrawn after trading a minimum of 10 standard lots. |
| 📚 Education | Free webinars, tutorials, articles, and market analysis. |
| ⭐ User Ratings | XM has a Trust Score of 97/99, indicating high reliability. Users appreciate its fast execution, low spreads, and robust customer support. |
| 📝Sign up | 👉Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Transparency in Pricing | Commissions Add Up |
| Commissions are charged per trade | Overlooking Spread Risks |
| XM emphasizes fast execution speeds | Limited Educational Resources |
Does XM offer a no-deposit welcome bonus in South Africa?
Yes, XM offers a $30 no-deposit bonus to new verified clients. It’s available without requiring a first deposit, making it perfect for beginners to try trading risk-free.
Can I withdraw profits from XM’s no-deposit bonus?
You can withdraw profits after meeting the required trading volume. The bonus itself is not withdrawable, but earnings are once all conditions are satisfied.
How we checked the offer: We reviewed the broker’s official promotion page and bonus terms, including the advertised amount, verification steps, eligibility rules and withdrawal conditions.
We did not fund an account or complete a live withdrawal test. Approval and payout results may therefore vary depending on the trader’s country, account type and legal entity.
5. FBS
FBS offers a no-deposit bonus of up to $100 for new traders. This bonus allows you to trade without risking your funds. However, there are certain conditions attached, such as trading volume requirements and withdrawal restrictions. FBS offers a no-deposit bonus of up to $100 to new traders. This bonus allows you to start trading without risking your funds.
Features
| ✅ Aspect |  |
| 🎁 Bonus Offer | FBS offers a $140 Level Up No Deposit Bonus. New clients receive $70 upon account creation, which can be increased to $140 by installing the FBS mobile app and completing verification. |
| 🎯 Eligibility | New clients upon registration |
| 📂 Eligible Account for Sign-up Bonus | Standard Account |
| 📝 Sign-up Bonus Withdrawal Eligibility | Completion of trading volume requirements |
| 🕐 Bonus Expiry | The bonus must be claimed within a specific timeframe after registration; details are provided during the application process. |
| 🏛️ Regulatory Status | CySEC (Cyprus Securities and Exchange Commission) FSC (Financial Services Commission of Belize) ASIC (Australian Securities and Investments Commission) |
| 🔓 Withdrawal Conditions | Profits from the bonus can be withdrawn after meeting specific trading volume requirements. The bonus itself is not withdrawable. |
| 🧠 Bonus Terms Update | Promotions and terms are subject to change; users are advised to verify the latest details on the official website. |
| ⭐ User Ratings | Generally positive feedback for trading conditions and customer support. Some users have expressed concerns about withdrawal processes. |
| 📞 Support | 24/7 multilingual customer support available via chat, email, and phone. |
| 📝Sign up | Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Offers accounts with a very low minimum deposit | High leverage can also increase risk |
| Provides a wide range of account options | Spreads can widen during market volatility |
| Regular bonuses and promotions | Lacks some advanced trading tools |
What is the FBS Level Up Bonus, and how does it work?
FBS provides a $70 or higher no-deposit bonus under the "Level Up" promotion. It’s designed to help beginners trade real markets without depositing funds.
Are there restrictions on withdrawing profits from FBS bonuses?
Yes, FBS sets trading volume limits before profits from the bonus can be withdrawn. It’s essential to read all bonus terms before starting.
How we checked the offer: We reviewed the broker’s official promotion page and bonus terms, including the advertised amount, verification steps, eligibility rules and withdrawal conditions.
We did not fund an account or complete a live withdrawal test. Approval and payout results may therefore vary depending on the trader’s country, account type and legal entity.
6. XChief
XChief advertises a $100 no-deposit bonus for eligible new clients.
The offer is limited to selected Classic+ and DirectFX accounts and currently applies to MT4. If you plan to use MT5, this may rule you out.
You will also need to complete account verification before the credit is added.
Features
| 🔍 Feature |  |
| 🎁 No Deposit Bonus | ForexChief offers a $100 no deposit bonus to new clients. |
| 🎯 Eligibility | New clients who complete registration and account verification |
| 📂 Eligible Account for Sign-up Bonus | MT4.DirectFX, MT4.Classic+ |
| 📝 Sign-up Bonus Withdrawal Eligibility | Profits can be withdrawn after trading 2 standard lots |
| ⏳ Bonus Expiry | There is no time limit to use the no deposit bonus. |
| 📜 Terms & Conditions | The bonus is available exclusively for DirectFX and Classic+ account types. |
| 🔄 Withdrawal Conditions | Profits can be withdrawn after achieving a trading turnover of $10,000,000. |
| 🔒 Regulation | Vanuatu Financial Services Commission (VFSC). |
| 🧠 Bonus Strategy Tips | Given the high turnover requirement, this bonus is best suited for experienced traders |
| 🌍 Availability in South Africa | The no deposit bonus is not available to residents of South Africa. Traders from this region are ineligible for this specific promotion. |
| ⭐ User Ratings | User feedback is mixed. Some traders appreciate the platform's stability and customer support, while others have reported challenges with withdrawal processes. It's recommended to review multiple sources and consider personal trading needs. |
| 💼 Account Types | DirectFX and Classic+ accounts. |
| 📝Sign up | 👉Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Access to trade online via the powerful MT4 & MT5 platforms | Limited assets; no stock CFDs |
| Up to 8 account types to accommodate all kinds of traders | Offshore regulation |
| Multiple payment options including Bitcoin | Incomprehensive market news & analysis |
| Efficient customer support team available through multiple channels | No USA traders allowed |
Our view
XChief is worth considering when your main goal is finding a $100 MT4 bonus.
It sits below XM and Headway because South African traders need to pay close attention to the legal entity and regulatory setup.
Does XChief offer a real no-deposit bonus?
Yes, XChief offers a $100 no-deposit bonus to new verified traders. It’s designed for clients to test live trading conditions without an initial deposit.
What are the requirements to withdraw XChief bonus profits?
Traders must complete a specific number of lots to withdraw profits. Always check their bonus T&Cs for exact figures and limitations.
How we checked the offer: We reviewed the broker’s official promotion page and bonus terms, including the advertised amount, verification steps, eligibility rules and withdrawal conditions.
We did not fund an account or complete a live withdrawal test. Approval and payout results may therefore vary depending on the trader’s country, account type and legal entity.
7. Headway
Headway promotes a no-deposit campaign offering up to $150 in trading funds.
You may start with a smaller balance and unlock more by completing trading tasks. That is why “up to $150” should not be read as an automatic $150 credit.
Headway has also advertised a separate $111 sign-up promotion. The campaigns may run at different times or in different countries, so check the offer displayed inside your own account.
Do not assume you can claim both.
Features
| ✅ Aspect |  |
| 🎁 Bonus Offer | A no‑deposit $111 bonus credited instantly to a new MT5 “Bonus Account” upon sign-up |
| 🎯 Eligibility | New and existing clients aged 18+, one bonus per client/device/IP. No deposit or prior verification needed . |
| 📂 Eligible Account | Only the special Bonus Account (MT5); trading available on Forex, metals, cryptocurrencies, energies . |
| 📝 Bonus Withdrawal Eligibility | Profits credited after bonus period, withdrawable once you trade profits ÷ 3 lots on a real account anytime . |
| 🕐 Bonus Expiry | Active for 7 calendar days from account opening; afterwards the bonus is removed, but profits are fixed . |
| 🏛️ Regulatory Status | Operated by JAROCEL PTY LTD, FSCA-regulated (#52108). Headquarters: East London, South Africa . |
| 🔓 Withdrawal Conditions | Profits released the next calendar month, on the 4th day. Lots traded post-bonus only count; no expiry for completing lot requirement . |
| 🧠 Bonus Terms Update | T&Cs allow Headway to change/remove bonus, disqualify users for misuse or fraud . |
| ⭐ User Ratings | Trustpilot rating: 4.1/5 from 317 reviews; praised for execution speed, support, conditions . |
| 📞 Support | 24/7 live chat, email (care@hw.site), Help Center with guides and FAQs . |
| 🧾 Account Verification | Not needed for bonus account opening; required post-bonus for real account deposits/withdrawals. KYC via ID and proof of address . |
| 🔍 Additional Notes | Leverage up to 1:2000, swap-free support, market execution speed 0.16 s. You can’t deposit, withdraw, or internally transfer on the bonus account . |
| 📝Sign up | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| South Africans can choose from three versatile account types that suit different needs and objectives | Headway does not have regulations with Tier-1 entities like FCA or ASIC |
| Headway has transparent and competitive spreads across instruments, especially major currency pairs | Headway does not offer ZAR-denominated accounts |
| South Africans can convert their live trading accounts into Swap-Free options | There are no local deposit and withdrawal methods mentioned for South Africans |
Our view
Headway has one of the larger genuine no-deposit offers we found, but the headline number does not tell the whole story.
Read the task requirements, expiry date and profit-withdrawal rules before you place a trade.
When and how can I withdraw profits from Headway’s $150 no‑deposit bonus?
After the 7‑day bonus expires, profits are fixed in your Personal Area. To withdraw, trade real‑account lots equal to profit ÷ 3. Withdrawal becomes available starting on the 4th day of the next calendar month.
Is Headway a reliable forex broker for beginners?
Yes, Headway is considered beginner-friendly due to its low minimum deposit, simple platform interface, and occasional no-deposit bonus. It also offers educational resources and demo accounts. However, users should note that it operates under offshore regulation, so risk management is essential.
How we checked the offer: We reviewed the broker’s official promotion page and bonus terms, including the advertised amount, verification steps, eligibility rules, and withdrawal conditions.
We did not fund an account or complete a live withdrawal test. Approval and payout results may therefore vary depending on the trader’s country, account type, and legal entity.
8. Tickmill
Tickmill offers a $30 Welcome Account in supported countries.
You cannot deposit into this account, and you cannot withdraw the original $30. The account is built specifically for the promotion.
Qualifying profits may be moved to your Tickmill wallet once you meet the rules. Tickmill states that the transferable amount may range from $30 to $100.
That upper limit matters. Making more than $100 in the promotional account does not necessarily mean you can transfer all of it.
Our view
Tickmill’s offer is more organised than many loosely defined sign-up bonuses.
The main question is availability. Confirm that South African residents can still open the Welcome Account before completing the full registration process.
Features
| ✅ Aspect |  |
| 🎁 Bonus Offer | A $30 no-deposit welcome bonus credited instantly to a new MT5/MT4 “Welcome Account” upon successful registration and approval. |
| 🎯 Eligibility | Available to new clients from non-restricted countries; existing Tickmill clients cannot claim it; certain jurisdictions are excluded. |
| 📂 Eligible Account | A dedicated Welcome Account (separate from live trading accounts); only one per client. |
| 📝 Bonus Withdrawal Eligibility | The bonus amount itself cannot be withdrawn; only profits earned from bonus trading can be transferred to your Tickmill Wallet and withdrawn. |
| 🕐 Bonus Expiry | Welcome Account trading is allowed for 60 days, then an additional 14 days to transfer/claim profits before the account is closed. |
| 🏛️ Regulatory Status | Tickmill is part of a regulated group — including entities regulated by the Seychelles FSA, UK FCA, CySEC, and FSCA (South Africa) — though the bonus applies under specific regulated entities. |
| 🔓 Withdrawal Conditions | To transfer profit from the Welcome Account to the Wallet: (1) complete verification, (2) register a Client Area account with matching details, and (3) make a minimum deposit (e.g., $100) before requesting the profit transfer. |
| 🧠 Bonus Terms Update | Terms are subject to change by Tickmill at any time; check the official promotions page before applying. |
| ⭐ User Ratings | Mixed reviews reported for overall bonus and broker experience; profit conditions and eligibility vary by region (rating depends on review source). |
| 📞 Support | Tickmill offers email and client support for bonus inquiries (contact via support@tickmill.com or local support channels). |
| 🧾 Account Verification | Standard KYC verification documents are required before profits can be transferred/withdrawn. |
| 🔍 Additional Notes | EAs and certain trading practices are prohibited on Welcome Accounts; violating rules can result in bonus forfeiture. Eligibility and availability depend heavily on residence. |
| 📝Sign up | 👉 Open Account |
Pros and Cons
| ✅Pros | ❌Cons |
| Low spreads | Limited asset selection |
| Multi-jurisdiction regulation | No cryptocurrencies |
| Excellent Education | No US clients |
| Clean, direct Islamic account option without swap interest. | Some CFDs still carry handling charges after prolonged holding. |
What is Tickmill’s no-deposit bonus and how does it work?
Tickmill’s no-deposit “Welcome Account” credits new eligible clients with a $30 trading bonus to use under live market conditions for up to 60 days, letting you trade risk-free. Profits can be withdrawn after meeting verification and deposit conditions.
Can I withdraw money earned from Tickmill’s $30 Welcome Account bonus?
Yes, you can transfer profits (between $30 and $100) to your Tickmill Wallet and withdraw them after completing KYC and depositing at least $100 to a live account; the bonus itself isn’t withdrawable.
9. FreshForex
FreshForex offers a $50 no-deposit bonus to some new clients. That means you can open an account and trade with real market prices without funding it first.
The bonus is added after registration, but there are conditions attached. You may be able to withdraw profits, although FreshForex can require account verification and a minimum trading volume before approving a payout. The exact rules depend on the promotion and account type, so read the terms before placing trades.
Features
| ✅ Aspect | FreshForex |
|---|---|
| 🎁 Bonus Offer | A $50 no-deposit bonus for eligible new FreshForex clients. The bonus is credited after registration and can be used to trade on a live account without making an initial deposit. |
| 🎯 Eligibility | Intended for newly registered clients who qualify under the promotion rules. FreshForex states that the offer is not available to clients from Indonesia. Availability in other countries may depend on local restrictions and the legal entity accepting the account. |
| 📂 Eligible Account | The $50 is provided through the account opened during the promotion registration process. Traders should confirm the eligible account type in their FreshForex Client Area before trading. |
| 📝 Bonus Withdrawal Eligibility | The $50 promotional credit is intended for trading and should not be treated as freely withdrawable cash. FreshForex states that profits earned using the bonus can be withdrawn, subject to the full promotion and account-verification rules. |
| 🕐 Bonus Expiry | The public $50 bonus page does not clearly state an expiry period. Traders should check the full promotion terms in the Client Area because the trading period or claim window may be limited. |
| 🏛️ Regulatory Status | FreshForex accepts clients internationally, but accepting South African traders does not mean the broker is regulated by the FSCA. Before registering, confirm the legal company named in the Client Agreement, its licensing status and the protections applying to the account. |
| 🔓 Withdrawal Conditions | FreshForex confirms that bonus-generated profits may be withdrawn. However, the public promotion page does not clearly list the required trading volume, minimum deposit or maximum withdrawal amount. These conditions should be checked directly in the full promotion terms before trading. |
| 🧠 Bonus Terms Update | FreshForex may amend, suspend or withdraw promotional offers. Check the current $50 bonus page and the terms shown inside the Client Area before opening an account. |
| ⭐ User Ratings | FreshForex displays a Trustpilot score of approximately 3.6 from 92 reviews on its website. Feedback should be read carefully because user ratings can change and do not replace checks on regulation, withdrawals and account terms. |
| 📞 Support | FreshForex provides live support and a ticket or feedback system through the Client Area. Traders should ask support to confirm bonus eligibility and the exact profit-withdrawal requirements in writing. |
| 🧾 Account Verification | Identity and account verification may be required before profits can be withdrawn. Traders should complete KYC using accurate personal information and ensure the payment method is registered in their own name. |
| 🔍 Additional Notes | FreshForex promotes the bonus as a way to test its trading conditions on a real account. Restrictions may apply to trade size, instruments, leverage, hedging, multiple registrations and withdrawal requests. Do not assume the $50 can be withdrawn directly. |
| 📝Sign up |
Pros and Cons
| ✅ Pros | ❌ Cons |
|---|---|
| No initial deposit is required to claim the advertised $50 bonus. | The $50 bonus itself is promotional credit and is not normally available for direct withdrawal. |
| Traders can test FreshForex under live market conditions rather than using a demo account. | Profit withdrawals remain subject to the broker’s bonus, verification and trading rules. |
| FreshForex states that profits earned from the bonus can be withdrawn. | The public promotion page does not clearly show all trading-volume or withdrawal requirements. |
| The bonus is advertised as being credited immediately after registration. | The offer may not be available in every country. FreshForex specifically excludes clients from Indonesia. |
| It gives new traders a chance to test order execution, spreads and the trading platform using real funds. | A $50 balance gives traders very little room to manage losses, especially when using high leverage. |
Can I withdraw the FreshForex $50 no-deposit bonus?
No. The $50 is trading credit and should not be treated as cash that can be withdrawn immediately. FreshForex states that profits earned from the bonus may be withdrawn, but the withdrawal request can be subject to account verification, trading activity, and the full promotional terms. Read the conditions shown in your Client Area before opening any trades.
Is the FreshForex $50 bonus available in South Africa?
FreshForex does not publicly list South Africa as an excluded country on its main bonus page. The page specifically says that the promotion is unavailable to clients from Indonesia. That does not guarantee that every South African applicant will qualify, though. Availability can depend on the client’s country, account type, and the legal entity handling the account.
How we checked the offer: We reviewed the broker’s official promotion page and bonus terms, including the advertised amount, verification steps, eligibility rules and withdrawal conditions.
We did not fund an account or complete a live withdrawal test. Approval and payout results may therefore vary depending on the trader’s country, account type and legal entity.
10. GrandCapital
Grand Capital advertises a $500 no-deposit account.
That number grabs attention, but the conditions reduce its real value.
You can trade with the promotional balance for seven days. The $500 cannot be withdrawn. Grand Capital also applies a profit-conversion formula and requires you to deposit an amount equal to the profit before withdrawing it.
So, yes, you can start without depositing. You may still need your own money later.
Features
| ✅ Aspect |  |
| 🎁 Bonus Offer | A $500 no-deposit trading bonus credited to a dedicated bonus account for live forex trading. |
| 🎯 Eligibility | Available to verified clients (identity and phone verified) who submit a request via the Private Office while the promotion runs. |
| 📂 Eligible Account | A $500 bonus account with trading conditions similar to a Standard account (leverage up to 1:100). |
| 📝 Bonus Withdrawal Eligibility | The bonus funds themselves cannot be withdrawn; only the profit earned from trading can be retained if conditions are met. |
| 🕐 Bonus Expiry | Bonus funds are credited for 7 calendar days; after this period, bonus funds are removed and open positions closed. |
| 🏛️ Regulatory Status | GrandCapital is an international broker with multiple promotions; local regulatory status varies by region; specific bonus regulation isn’t highlighted in the promo terms. |
| 🔓 Withdrawal Conditions | To withdraw profit: (1) make a deposit equal or greater than your profit within 7 days to convert the bonus account into a funded account; (2) complete a required trading volume — typically 1 lot per $5 profit — on the funded account before profits become withdrawable. |
| 🧠 Bonus Terms Update | GrandCapital reserves the right to modify or cancel the bonus offer at any time and may change terms without prior notice. |
| ⭐ User Ratings | No official rating provided in the bonus terms; community feedback on bonus usability and withdrawal experience varies. |
| 📞 Support | Support is available via the client Private Office and company contact channels to assist with bonus requests. |
| 🧾 Account Verification | Verified ID and phone number are required before the bonus can be granted. |
| 🔍 Additional Notes | Multidirectional trading and proxy use are prohibited; violations can lead to bonus forfeiture. Bonus can only be claimed once per client. |
| 📝Sign up | 👉 Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Long operational history (over 15–20 years), indicating experience in the market. | Not regulated by major Tier-1 authorities (FCA, CySEC, ASIC), raising fund safety concerns. |
| Low minimum deposit requirements, making it accessible for beginners. | Customer support is often reported as slow, unresponsive, or inadequate. |
| Offers a wide range of instruments (forex, commodities, stocks, crypto). | Regulatory oversight is limited (offshore registry or non-top-tier bodies only), which may affect dispute resolution and client protection. |
Our view
Grand Capital offers the largest number on the page, but not the most flexible deal.
The seven-day limit and later funding requirement are serious restrictions. Read the profit formula before deciding whether the offer is worth your time.
What is GrandCapital’s no-deposit bonus offer?
GrandCapital’s no-deposit promotion grants eligible new users a $500 bonus on a bonus account tradable under real conditions for about 7 calendar days, after which bonus funds expire and only earned profit remains.
Can profits from the GrandCapital $500 bonus be withdrawn?
Yes, profits earned from the $500 bonus convert to real account funds after the bonus expires and must satisfy specified volume requirements on a funded account before the profits are withdrawable.
How we checked the offer: We reviewed the broker’s official promotion page and bonus terms, including the advertised amount, verification steps, eligibility rules and withdrawal conditions.
We did not fund an account or complete a live withdrawal test. Approval and payout results may therefore vary depending on the trader’s country, account type and legal entity.
How to Choose a No-Deposit Bonus Broker in South Africa
Do not choose a broker only because it offers a bonus.
- Start by checking whether the broker accepts South African traders and whether the bonus is available in South Africa. Then look at the broker’s regulation, account terms, deposit and withdrawal options, trading platforms, spreads, and customer support.
- Once those basics are clear, compare the bonus terms. A good no-deposit bonus should explain how to claim it, how long it lasts, what you need to trade, and whether profits can be withdrawn.
- A broker that explains everything clearly is usually a better choice than one that makes the bonus sound easy but hides the important rules.
Can You Withdraw Profits from a No-Deposit Bonus?
Sometimes, yes. Most brokers do not allow you to withdraw the bonus itself, but some may allow you to withdraw profits made from the bonus. To do this, you usually need to verify your account and meet the broker’s trading requirements.
For example, the broker may ask you to trade a certain number of lots, keep the account open for a set period, or make a small deposit before withdrawing.
Always read the withdrawal terms before you start trading. This helps you avoid wasting time on a bonus that looks good but is difficult to cash out.
No-Deposit Bonus Versus Demo Account
| Feature | No-deposit live bonus | Demo account |
|---|---|---|
| Market environment | Live account conditions | Simulated account |
| Personal deposit needed | Usually not at the start | No |
| Profit withdrawal | Sometimes, after meeting conditions | No |
| KYC required | Usually | Often not initially |
| Emotional pressure | Higher because profit may feel real | Lower |
| Trading restrictions | Usually strict | Usually fewer |
| Expiry | Common | Depends on the broker |
| Best use | Testing live execution and withdrawal rules | Learning the platform and practising strategies |
A demo account is usually the safer starting point for a complete beginner.
You get more virtual money to practise with, and there is no pressure to hit a trading target before you can withdraw anything.
A small no-deposit account makes more sense later, once you already understand lot sizes, leverage, margin and how to use a stop loss properly.
Free Demo Competitions
XM currently runs free demo competitions where traders use virtual funds and compete for real cash prizes.
You need an XM real account, and you must complete verification before entering. The actual competition trading still happens on a demo account, so you are not risking a live funded bonus.
This is not the same as a no-deposit live trading offer.
For a beginner, that may be a good thing. You still have a chance to win a prize, but you are not being pushed straight into leveraged live trading before you understand how quickly losses can build.
The rules, prizes, and country eligibility can change. Check the latest competition terms before entering.
Is a No-Deposit Bonus Really Free Money?
No. A no-deposit bonus is usually trading credit, not cash you can withdraw.
Headway makes this clear in its terms. The bonus is promotional credit, not a client deposit, and it has no cash value. You cannot withdraw the bonus itself.
What you may be able to withdraw is profit made from using the bonus, but only if you meet the promotion's rules.
That is why a $1,000 bonus is not automatically better than a $50 or $150 offer. The withdrawal cap, trading requirements, and time limit often matter far more than the headline number.
What Should South Africans Check Before Claiming a Forex Bonus?
Start with the broker, not the bonus amount.
The first thing I would check is which legal company is actually offering the account and promotion. Look for the full company name and licence number rather than assuming the broker's brand name tells you everything.
If the broker claims South African regulation, check that company against the FSCA's official records.
Then read the bonus rules carefully. Check:
- whether South African traders are eligible;
- whether you need to complete KYC first;
- whether the bonus can ever be withdrawn;
- how much profit you can withdraw;
- how many trades you need to place;
- whether trades must stay open for a minimum period;
- any lot-volume requirement;
- whether you eventually need to make a real-money deposit;
- how long the bonus lasts;
- which markets you are allowed to trade;
- the maximum leverage available;
- which trading strategies are excluded;
- whether the offer is limited to one claim per person;
- which legal entity is running the promotion.
Check all of this before you place the first trade. Finding out that a $300 profit cannot be withdrawn after you have already traded the bonus is exactly what you want to avoid.
No Deposit Bonus Features
| Check | What to Verify | Why It Matters |
| South African Eligibility | Confirm that the bonus is available to residents of South Africa. | Some global promotions exclude South African clients. |
| Bonus Amount | Check the actual promotional credit received and whether it is added immediately or earned over time. | A headline bonus may not be fully available from day one. |
| Bonus Withdrawal | Confirm whether the bonus itself can be withdrawn. | Most no-deposit bonuses are trading credit only and cannot be withdrawn as cash. |
| Profit Withdrawal | Check the maximum withdrawable profit and all withdrawal conditions. | Profits may only become withdrawable after specific requirements are met. |
| Trading Volume Requirement | Check required lots, trades or turnover before withdrawing profit. | High volume requirements can make a large bonus difficult to use in practice. |
| Promotion Expiry | Confirm how long the bonus account or promotion remains active. | Bonus funds or profits may expire if conditions are not completed in time. |
| Broker Regulation | Check the broker's legal entity, regulator and licence number. | Regulation helps you understand which authority supervises the provider. |
| FSCA Status | If FSCA regulation is claimed, verify the legal company name and FSP number. | A broker brand and an FSCA-authorised company are not always the same entity. |
| Account-Holding Entity | Check which legal company actually opens or provides your trading account. | A broker group may have several regulated entities in different jurisdictions. |
| KYC Requirements | Confirm whether identity and address verification are required. | Bonus-profit withdrawals usually require a verified account. |
| Trading Restrictions | Check restrictions on instruments, leverage, hedging, scalping, EAs or trading strategies. | Breaking promotion rules may result in bonus funds or profits being cancelled. |
| Minimum Deposit After Bonus | Check whether a later real-money deposit is required to withdraw profits. | Some promotions are technically no-deposit to start but require funding later. |
| ZAR Base Account | Check whether the trading account itself can be denominated in ZAR. | A ZAR account can reduce repeated currency conversion for South Africans. |
| ZAR Deposits | Confirm whether deposits can be made directly in South African rand. | ZAR deposits are different from having a ZAR-denominated trading account. |
| Local Bank Transfer | Check whether South African bank-transfer or local payment methods are supported. | Local funding can make deposits and withdrawals more convenient. |
| Deposit and Withdrawal Fees | Check broker fees, payment-provider charges and currency-conversion costs. | A “free” bonus can still involve transaction or conversion costs. |
| Trading Costs | Check spreads, commissions and overnight financing on the bonus account. | Bonus accounts may have different trading conditions from standard live accounts. |
| Tax Considerations | Keep records of trading profits and withdrawals and check applicable South African tax treatment. | Trading profits can have tax consequences depending on the circumstances. |
| Scam Warning Signs | Avoid guaranteed-profit claims, fake FSP numbers and requests to pay individuals to unlock funds. | These are common warning signs of fraudulent forex promotions. |
| Demo Account Alternative | Compare the bonus with a free demo account before registering. | A demo account may be better for learning without bonus withdrawal conditions. |
Step-by-step guide to claim a No Deposit Forex Bonus:
Step 1: Choose a Broker
- Pick a regulated broker offering a no-deposit bonus for new traders.
Step 2: Sign Up
- Complete the registration form with your personal details.
Step 3: Verify Account
- Submit ID and proof of residence if required by the broker.
Step 4: Claim Bonus
- Navigate to the promotions or bonus section and click “Claim” or use the bonus code if provided.
Step 5: Start Trading
- The bonus is credited to your account; use it to trade according to the broker’s terms.
Step 6: Meet Requirements
- Complete any trading or withdrawal conditions (e.g., minimum lot volume) before withdrawing profits.
Step 7: Withdraw Profits
- After meeting conditions, request withdrawal of your earnings, often to your verified payment method.
How to Check a Bonus Before Registering
1. Start with the broker’s own promotion page
Do not rely on comparison sites, social-media posts or screenshots from last year.
The broker should have a live promotion page, a set of downloadable terms, or both. If you cannot find either, treat the offer with caution.
2. Check whether South Africa is included
Search the terms for:
- Eligible countries
- Restricted countries
- Residency rules
- The company running the promotion
A broker may accept South African clients for standard trading accounts while excluding them from a specific bonus campaign.
3. Find out whether you need to deposit later
Go straight to the section covering profit withdrawals.
Some brokers advertise a bonus as “no deposit required” but still ask you to fund the account before any profit can be withdrawn.
That is a very different offer from a bonus where profits can leave the account without a later deposit.
4. Work out the real trading target
Do not look at a one-lot requirement and assume it is small.
One standard forex lot represents a large underlying position. You can reach the target through several smaller trades, but the exposure and trading costs still add up.
Do not start taking bigger positions just to unlock a small bonus. A $5 or $30 offer is not worth blowing the account over.
5. Check the legal company behind the offer
Compare the company name shown in:
- The promotion terms
- The website footer
- The signup form
- The client agreement
- The deposit page
The names may not always match.
When they differ, find out which company is opening the account, holding the funds, and setting the withdrawal rules.
6. Keep a copy of the terms
Bonus campaigns can change or disappear with little warning.
Save the terms or take screenshots when you open the account. Keep the campaign name, date, eligibility rules, and withdrawal conditions.
That gives you something to refer back to if the broker changes the page later.
Final Verdict: Are No-Deposit Bonuses Worth It?
A no-deposit bonus can be worth it if you use it the right way. It is a good way to test a broker with real market conditions before depositing your own money. You can see how the platform works, how trades are executed, how support responds, and whether the broker feels easy to use. But it should not be the main reason you choose a broker. Regulation, clear fees, smooth withdrawals, fair trading conditions, and good support matter more than any bonus. For South African traders, the best no-deposit bonus is simple: one that is available locally, easy to understand, and offered by a broker with clear rules.
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Frequently Asked Questions
Which broker has the best no-deposit bonus in South Africa?
XM is our strongest overall option because its $30 promotion is backed by official terms.
Headway, xChief, Tickmill, Grand Capital and InstaForex also advertise no-deposit offers, but South African availability must be checked before registration.
Which broker offers a $30 no-deposit bonus?
XM advertises a $30 no-deposit bonus for eligible clients.
Tickmill also offers a $30 Welcome Account in supported regions. Country and entity restrictions apply to both.
Does RoboForex have a no-deposit bonus?
No, not under the current $30 Welcome Bonus rules.
You must deposit at least $10 or €10, which makes it a low-deposit welcome offer.
Does FBS offer a $100 no-deposit bonus?
We could not verify a current official $100 no-deposit offer for South African traders.
The official promotion we found requires a deposit.
Does JustMarkets have a no-deposit bonus?
We could not confirm an active official no-deposit promotion for South African clients.
Third-party sites make conflicting claims, so check the official promotions area and your client account.
Does SuperFin offer a $30 no-deposit bonus?
No. SuperFin advertises a bonus equal to 30% of a qualifying deposit. That is a percentage-based deposit bonus.
Can I withdraw the bonus?
Usually not. You may be able to withdraw qualifying profits after meeting verification, volume, and campaign requirements.
Must I deposit before withdrawing profit?
It depends on the broker. Grand Capital, for example, requires a later deposit under its profit-conversion rules. Other brokers may allow a qualifying profit transfer without an initial deposit.
Are all these brokers regulated by the FSCA?
No. A broker may accept South African clients while opening the account through an offshore company. Check the company name in your agreement and verify its FSP number separately.
Is a no-deposit bonus better than a demo account?
Not always. A demo account is better for learning without pressure. A no-deposit account is more useful for testing live execution, support, and withdrawal processes.
Can I claim more than one bonus?
Usually not with the same broker. Restrictions may apply per person, household, device, phone number, payment method, or IP address. Duplicate registrations can result in the broker cancelling the credit and any profit.
Do no-deposit bonuses expire?
Most do. The trading period may last a few days or several weeks. When the credit is removed, open positions may be affected if you were using that credit as margin.
Are forex bonus profits taxable in South Africa?
They may have South African tax consequences, depending on your circumstances and how SARS classifies the activity.
Keep complete transaction records and speak to a registered South African tax practitioner about your own position.
How often should bonus information be updated?
Check each promotion at least once a month and again immediately before publication.
Ideally, the page should show a separate verification date for every broker. A single general update date does not tell the reader which individual offers were actually rechecked.
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