No Deposit Bonus Forex Brokers In Malaysia
There are several no-deposit bonus forex brokers in Malaysia to choose from.
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After opening a live account, some brokers give no deposit bonus for you to test the live trading before investing your money.
Some brokers that accept Malaysian residents offer no deposit bonus, this article will help you know these brokers and their trading conditions.
When choosing a broker, don’t get carried away by the deposit bonus and forget to evaluate other factors like regulation, fees, minimum deposit, etc.
| Broker | Regulation | No Deposit Bonus | Minimum Deposit | Currency Pairs | Visit |
|---|---|---|---|---|---|
| HF Markets |
FCA, DFSA, FSCA, FSA, CMA
|
$30
|
$100 for Pro Account
|
50+
|
Visit Broker |
| Tickmill |
FCS UK, CySEC, FSA Seychelles, LFSA, FSCA
|
$30
|
$100
|
60+
|
Visit Broker |
| XM |
CySEC, FSC Belize, FSCA
|
$30
|
$5
|
50+
|
Visit Broker |
| FBS |
CySEC, IFSC
|
$70
|
$1
|
60+
|
Visit Broker |
| Roboforex |
FSC Belize
|
$30
|
$10
|
40+
|
Visit Broker |
| Instaforex |
FSC BVI
|
$500
|
$1
|
100+
|
Visit Broker |
Here are our 6 Best Forex Brokers for traders in Malaysia that are safe based on our research & editorial review
We have used factors like regulations, trading platforms, minimum deposits, funding methods, fees, available assets, and customer service to create this list of the best no deposit bonus forex brokers in Malaysia.
HF Markets was established in 2010.
Regulation: It is regulated by the following regulatory bodies:
No Deposit Bonus:
HFM offers a no deposit bonus of $30. This bonus must be claimed within 30 days of opening an account and is only available to clients who have completed the account opening process.
It is noteworthy to add that the no deposit bonus cannot be withdrawn. For you to withdraw the profit for trading no deposit bonus, you must satisfy the following criteria:
Also note that only trades on forex, silver and gold will be calculated.
Fees:
HFM does not charge commission except for the zero account that charges a commission of $3 per turn, per lot.
Spread for cent and premium accounts starts from 1.2 pip, for the pro account, spread starts at 0.5 pip while it starts at 0.0 pip for the zero account.
HFM does not charge deposit and withdrawal fees, except for bank wire transactions below $100.
If your account is dormant for six consecutive months, you will have to pay an inactivity fee of $5 per month. The fee continues to increase as years go by until your account balance is zero.
Trading conditions:
Number of instruments: 50 currency pairs, 90 stocks, 4 commodities, 5 metals, 30 ETFs, and 2 energies.
HF Markets Pros
HF Markets Cons
HF Markets was established in 2014.
Regulation: It is regulated by the following regulatory bodies:
No Deposit Bonus:
Tickmill offers a no deposit bonus amount of $30. This welcome bonus is available to new clients only. After completing the account opening procedure and completing the Identity and client area validation, you will have to deposit $100 into your account to be able to access your no deposit bonus.
You cannot withdraw the bonus, however you can withdraw the profit you make from trading with it.
Fees:
Tickmill classic account is commission free, while the pro and VIP account have commission of 2 per side per 100,000 and 1 per side per 100,000.
Spread for the VIP and Pro account starts from 0.0 pip, while spread for the classic account starts from 1.6 pip.
Trading conditions:
Number of instruments: 60 currency pairs, 500 stocks, 20 stock indices, 10 cryptos, 5 bonds.
Tickmill Pros
Tickmill Cons
XM was established in 2010.
Regulation: It is regulated by the following regulatory bodies:
No Deposit Bonus:
XM offers a no deposit bonus of $30. Note that the bonus will be available 24 hours after you have completed your account registration.
When you trade with the no deposit bonus and make profit, any percentage of your profit you withdraw will be removed from your no deposit bonus.
For example, after trading with your $30 no deposit bonus and making a profit of $70, making your account balance $100, you wish to withdraw $40 i.e 40% of $100. 40% of your no deposit bonus will be removed, that is $12.
Fees:
XM does not charge commission, as well as deposit and withdrawal fee. Spread starts from 1 pip for standard and micro accounts. While cor ultra low account, spread can be as low as 0.6 pip.
After 90 days of inactivity, you will be charged inactivity fee of $5.
.
Trading conditions:
Number of instruments: 50 currency pairs, 1000 stocks, 8 commodities, 20 indices, 3 metals, 30 cryptos, 3 energies.
XM Pros
XM Cons
FBS was established in 2009.
Regulation: It is regulated by the following regulatory bodies:
No Deposit Bonus:
FBS offers a start bonus of $100. However this is open for clients who trade on the standard account using the FBS trader trading platform.
To access the bonus, you have to complete your registration process and carry out at least one trade.
Fees:
Spread on an FBS standard and pro account starts from 0.5 pip; 0.0 pip for the zero account; micro account has a fixed spread of 3 pips; spread for the cent, ECN, and crypto account starts from 1 pip.
FBS does not charge commission on the standard, zero, pro and micro account. Crypto account has a commission of 0.05%, while the ECN account has a commission of $6.
They do not charge any deposit and withdrawal fee or inactivity fee.
Trading conditions:
Number of instruments: 50 currency pairs, 100 stocks, 6 commodities, 10 indices, 5 cryptos, and 3 energies.
FBS Pros
FBS Cons
Roboforex was established in 2009.
Regulation: It is regulated by the following regulatory bodies:
No Deposit Bonus:
Roboforex offers a welcome bonus of $30. To qualify for this welcome bonus, you have to open a new account and verify your personal information, after which fund your account with at least $10.
You cannot withdraw the bonus, however you can trade and make profit with it. Roboforex does not remove part of the no deposit bonus when you withdraw the profit.
Fees:
Spread on the prime, and ECN account starts from 0.0 pip; for the cent account, spread starts from 1.3 pips.
Commission on the prime account starts from $10, while for the ECN account, it starts from $20.
They do not charge deposit and withdrawal fees, not inactivity fees.
Trading conditions:
Number of instruments: 40 currency pairs, 3000 stocks, 100 commodities, 20 metals, 1000 ETFs, and 2 energies.
Roboforex Pros
Roboforex Cons
Instaforex was established in 2007.
Regulation: It is regulated by the following regulatory bodies:
No Deposit Bonus:
InstaForex offers a no deposit bonus of $500. To receive the bonus, you will have to open a live trading account.
You can trade with the bonus, but only the profit made during the trade can be withdrawn
Fees:
Spread on the insta standard and cent standard account starts from 0 pip, while for the insta eurica and cent eurica, spread ranges between 3-7 pips.
Insta standard and cent standard accounts are commission free, while commission ranges between 0.03% to 0.07% on the insta eurica and cent eurica account.
They do not charge deposit fees, withdrawal fees depend on the method of withdrawal. If your trading account stays inactive for six consecutive months, you will be charged an inactivity fee of £5.
Trading conditions:
Number of instruments: 100 currency pairs, 200 stocks, 40 commodities, 10 indices, 10 cryptos, 3 metals.
InstaForex Pros
InstaForex Cons
No deposit bonuses in forex trading are essentially promotional credits offered by brokers to new traders without requiring them to make an initial deposit. It’s a way for potential traders to test the platform and explore forex trading with free capital. Here’s a breakdown of how they work:
1) You register with a forex broker offering a no-deposit bonus.
2) The broker credits your account with a specific amount of real money (typically $30 to $100).
3) You can use this bonus to trade various currency pairs and potentially generate profits.
1) Risk-free trial: You can get familiar with the platform and practice trading without risking your own capital.
2) Potential profits: If you trade successfully, you can keep the profits generated using the bonus funds (under specific conditions).
3) Market exposure: Gain experience with live market movements and trading strategies.
1) Bonus requirements: Most brokers set trading volume or profit targets you need to achieve before withdrawing any profits or the bonus itself.
2) Limited duration: No deposit bonuses are typically valid for a short period (a few days or weeks).
3) Withdrawal restrictions: Some brokers may limit the amount of profits you can withdraw from the bonus, even if you meet the requirements.
4) Hidden fees: Always check for any hidden fees or commissions associated with claiming or using the bonus.
5) Trading risks: Remember, forex trading carries inherent risks, and even with a bonus, losses are possible, especially if the broker does not have negative balance protection.
Overall, no deposit bonuses can be a helpful tool for beginners to explore forex trading, but it’s crucial for you to choose a reputable broker, understand the bonus terms and conditions, and prioritize risk management. Don’t rely solely on the bonus to make profits, and use it primarily as a learning experience.
Several forex brokers offer no deposit bonuses in Malaysia, but it’s important to approach them with caution and research thoroughly before signing up.
Here’s a list of some potential options, but remember, this is not an exhaustive list, and we strongly recommend doing your own due diligence:
Reputable forex brokers:
1) HFM No Deposit Bonus: HF Markets offers a $50 no-deposit bonus for specific account types to new traders, known for tight spreads and diverse trading offers.
2) Tickmill No Deposit Bonus: Offers a $30 no-deposit bonus with low spreads and access to various instruments.
3) RoboForex No Deposit Bonus: Offers a $30 no-deposit bonus with minimal withdrawal requirements.
Before choosing a no deposit forex broker, consider the following:
When choosing a broker, you should ensure that they are regulated in Malaysia, or by top tier regulatory bodies.
If your preferred broker is regulated by a top tier regulatory body like FCA, ASIC or CySec, you should search in the future to check if your account will be registered with the top tier regulatory body.
This is because some brokers with top tier or onshore regulations may register your account with offshore regulations. These offshore regulations do not give you enough protection like the onshore or top tier regulations.
You should also do your due diligence to ensure that the broker is being sincere about their regulations.
No deposit bonus helps you test the live trading account before using your money.
As such if you are a beginner with little or no trading experience in live trading, you may want to consider brokers who offer a large sum of no deposit bonus. This way you have enough funds for testing.
Fees
Spread, commission, swap, inactivity fee, and deposit/withdrawal fee are some of the fees most brokers charge. All these fees can affect your profit, as such you should consider brokers that charge tight spread, and low commission.
Not all brokers charge inactivity fees and deposit and withdrawal fees, so it is possible to avoid these fees.
Your preferred broker should offer several methods of deposit and withdrawal.
This way, when you need to deposit money quickly (e.g when you have a margin call) it’s no problem, and if one method is seeming difficult for you, there are others to use.
Availability
A good Forex broker will have trading platforms that can be accessed on mobile, web, and desktop.
This way when one platform is down, you can use the other.
Tradable instruments
Your preferred Forex broker should offer a wide range of tradable instruments, this helps you diversify your portfolio and hedge against risk.
Another reason why having a wide range of instruments is necessary is because it allows you to trade with one broker instead of using different brokers to trade different instruments.
Customer service should be easy to access and available at any time. This way, any time you have issues it can be resolved fast.
Different brokers offer varying amounts, but typically, the amount of bonus most forex brokers offer without a deposit is $30 and can be up to $100. In the case of HF Markets, Tickmill, Roboforex and XM, the no deposit bonus amount is $30, while FBS offers $100 as no deposit bonus.
Requirements differ from broker to broker, but typically, you will required to have placed certain amount of trade before you can withdraw the profits. In some case,like Tickmill, you are required to make a deposit before you can start using the bonus to trade.
No deposit bonus is a bonus that brokers offer to new clients after opening a live trading account. The bonus requires no deposit to claim.
Usually, brokers do not allow clients to withdraw the no deposit bonus, but you can trade with and withdraw the profit. Some brokers slowly remove the no deposit bonus any time you withdraw funds from your account.
No, you cannot withdraw your no deposit bonus, you can only use it to trade. However, if you make any profits from using the bonus to trade, you can withdraw the profits, after meeting some requirement set by the broker.
First, create an account on Roboforex platform and choose either the Cent Account or Standard Account (only these accounts offer no deposit bonus). Make sure to set your account currency to USD or EUR
Next, on your Members Area or dashboard, verify your account by adding your identification document, proof of address and phone number. Then deposit at least $10 using cards and the deposit will be credited to your account.
HF Markets, Tickmill, XM, and Roboforex are some of the brokers that offer no deposit bonus of $30. Occasionally, they have other promotions that offer more than $30 bonus.
