No-deposit vs deposit bonuses
Which type suits which kind of trader, and where each one hides its costs.
Two different deals
A no-deposit bonus gives you a small amount to trade with before you fund the account. A deposit bonus adds a percentage of your own deposit as credit. They suit different goals, and they hide their costs in different places.
No-deposit bonuses
The appeal is obvious: you risk nothing of your own. The catch is that the amount is small, and the withdrawal conditions are usually strict. You often have to trade a set volume and can only withdraw the profits, not the starting credit, and frequently up to a low cap.
Think of a no-deposit bonus as a free test drive of the broker, not a way to build a balance. It is best for trying a platform before you commit real money.
Deposit bonuses
A deposit match can be large, sometimes 100% of your deposit up to a high cap. But the credit usually works as extra margin rather than cash, and a turnover requirement decides whether any of it becomes yours. Withdrawing your own deposit early can cancel a matching slice of the bonus.
Deposit bonuses suit active traders who were going to fund and trade anyway, and who can realistically clear the turnover. For everyone else, the extra margin mostly encourages larger positions and larger risk.
Which to choose
If you want to test a broker with no risk, take the no-deposit offer and read the withdrawal cap. If you are funding an account to trade seriously and can meet the turnover, a deposit bonus can add real value. If you cannot meet the turnover, neither type is worth the strings.