If you are familiar with forex as a way of earning money, then you probably know that you need to make an investment in order to do that. Well, that turns out to be wrong. You can actually make a few bucks without ever spending one.
Although forex is basically a place where you need to give a certain amount of money to get something more in return, there are a couple of methods you can use to avoid that completely. But before you start celebrating, take into consideration that by doing this, you will only be able to earn a small amount of money each month. To significantly increase your income, you will have to start investing yourself.
Nevertheless, here are the four ways you can use to earn that small amount.
In order to use this strategy, you will need to ask your broker to open a no-deposit account. This is the one that requires the minimum amount to stay open. Once you have done this, you will be given the opportunity to trade with other investors. You will be able to sell and buy currencies just like you would if you had made an investment. The only downside to this strategy are the limits on withdrawing your funds. Basically, you won’t be able to withdraw them unless you become successful and actually start earning.
This is among the most popular ways to earn by trading currencies and without making investments. Instead of trading currencies, you earn money by promoting brokerage companies. Your job is to invite people to start trading on forex, and as soon as you manage to get new clients, you start receiving money on your bank account. What makes this deal even better is the fact that your earnings don’t depend on the success of the new client on forex. As you can see, being investment- and risk-free, this is one of the best ways of earning on forex.
This is something brokers organize to motivate their clients to trade. The contests are open, which means you can participate regardless of the type of account you own. Your goal is to get ahead of your competition and to increase your income as much as possible during the course of the contest. This means that you are given the chance to earn a larger sum of money even without making an investment. Needless to say, you receive the money on your bank account after the contest is over.
School of investors
This is a program created for aspiring traders who wish to learn the tricks of the trade. During the course of the project, you are given $1000 that you can use for the following 90 days. The only thing you need to do with that money is invest it and try to earn as much as possible. Also, you are required to write a report on how well you did and describe your strategy to anyone who might be reading it.