Forex trading has surged in popularity in Malaysia in recent years as more traders look to capitalize on currency market volatility. Attractive leverage, convenient trading hours aligned with Asian sessions, and technological accessibility have boosted forex trading adoption locally. However, new Malaysian traders often face capital constraints to fund a trading account initially. This is where forex brokers offering no deposit bonuses become advantageous. A no deposit bonus provides real trading money (typically $10 to $100) into a new account without requiring upfront funding. This capital can be used to test trading with live markets in a risk-free manner.
After rigorous evaluation, we have compiled a list of the top 6 no deposit bonus forex brokers recommended for Malaysian traders in 2024 based on regulation, trading costs, platform features, and bonus offering terms. Seemingly, international forex brokers won and several of them on the list. Let's explore more.
Comparison of the Best No Deposit Bonus Forex Brokers in Malaysia
Forex Broker
License
Minimum Spread
Maximum Leverage
Minimum Deposit
Open account
Details
Compare
Best No Deposit Bonus Forex Brokers in Malaysia Overall
| Brokers | Logos | Why are they listed as the Best No Deposit Bonus Forex Brokers in Malaysia? |
| HYCM |  |
✅Heavily and globally regulated, HYCM is a well-established broker that has operated for over 50 years, giving traders more trading confidence. ✅ Providing access to extensive tradable instruments, giving traders more choices. ✅Offering a generous no deposit of $30, giving new traders great courage and flexibility to start. |
| TickMill |  |
✅A well-trusted broker under strict regulation, offering vast tradable instruments, offering great trading flexibility. ✅ Advanced trading platforms, including MT4, MT5, ensuring quick order execution, minimizing slippage. ✅Offering generous no deposit bonus of $30, giving new beginners great courage to start. |
| Windsor Brokers |  |
✅Regulated by CYSEC, operating under stringent regulation, giving traders a secure trading environment. ✅ Robost and solid MT4 trading platforms, ensuring quick order execution and superb trading environment. ✅Offering a welcome bonus of $30, giving new clients great potential to make profits. |
| JustMarkets |  |
✅A trusted broker with solid reputation, operating in a transparent and secure way. ✅ Both MT4 and MT5 brokers offered, as well as social trading solutions, ensuring a smooth trading experience. ✅A generous bonus offered, $30 welcome bonus, providing great courage to experience the trading world. |
| RoboForex |  |
✅An excellent broker offering various favarable trading features, high leverage, competitive spreads, and convenient withdrawal options. ✅ Robust and solid MT4, MT5 trading platform, as well as its proprietary trading platforms, giving traders more choices. ✅Offering a generous welcome bonus of $30, giving traders great flexibity to start real trading. |
| ForexChief |  |
✅ Robust MT4, MT5 trading platforms, as well as its propritary trading app, giving traders more trading confidance. ✅Competitive spreads and commissions, helping traders to decrease their trading costs to a large extent. ✅Welcome bonus up to $100, $0 to start real trading, an ideal choice for beginners. |
Overview of the Best No Deposit Bonus Forex Brokers in Malaysia
HYCM
 |
|
Broker |
|
Regulated by |
|
Min. Deposit |
$20 |
Tradable Instruments |
Forex, commodities, indices, cryptocurrencies and stocks |
Trading Platforms |
MetaTrader 4, MetaTrader 5, WebTrader, HYCM Trader |
Trading Costs |
Fixed spreads from 1.5 ipsVariable spreads from 1.2 pipsRaw Spreads from 0.1 pips |
Max. Leverage |
500:1 |
No Deposit Bonus |
Up to $100 |
Demo accounts |
✅ |
Copy Trading |
✅ |
Payment Methods |
Debit/Credit Card (Visa or Mastercard), Skrill, Neteller, China Union Pay, Interac or Wire Transfer |
Customer Support |
5/24 |
Established in 1977, HYCM is a renowned Forex broker based in London, United Kingdom. It comes under the regulation of several regulators, including FCA in the UK and CySEC in Cyprus, and more. This multi-asset broker offers extensive tradable instruments including Forex, commodities, indices, cryptocurrencies and stocks. To start real trading, only $20 is enought to open an account on the HYCM platform. HYCM supports both the MetaTrader 4 and MetaTrader 5 platforms, as well as its proprietary HYCM Trader. It prides itself in offering top-notch customer service that's accessible five days a week. Positive user recognition has been achieved by HYCM over the years for its low spreads, fast order execution, and distinctive features like its multiple account types designed for various trading styles.
When it comes to no-deposit bonuses, HYCM stands above most brokers, offering a 100% welcome bonus up to $100 to new clients without requiring any initial deposit. Traders can use bonus funds to gain profits without any investment risk. However, terms and conditions do apply. For instance, the bonus lasts for 14 days after registration and needs to be activated within 48 hours. Notably, the bonus isn't withdrawable, but any profits made from trading with the bonus can be withdrawn after fulfilling certain requirements, including a minimum trading volume. Overall, this bonus feature makes HYCM an attractive choice for new traders to explore and strategize their forex trades.
TickMill
 |
|
Broker |
|
Regulated by |
|
Min. Deposit |
$100 |
Tradable Instruments |
Forex, Stock Indices, Commodities, Bonds, Cryptocurrencies, Stocks, Bonds, ETFs, Furures, Options, and more |
Trading Platforms |
MetaTrader 5, MetaTrader 4, WebTrader Platform, MetaTrader for Mac, Tickmill Mobile App |
Trading Costs |
Classic: spreads from 1.6 pips, no commissions charged |
Max. Leverage |
500:1 |
No Deposit Bonus |
$30 welcome bonus |
Demo accounts |
✅ |
Copy Trading |
✅ |
Payment Methods |
Skrill, Neteller, FasaPay, UnionPay, Credit Card |
Customer Support |
7/24 |
Founded in 2014, TickMill is a reputable broker headquartered in London, United Kingdom, recognized and regulated by top-tier authorities, including FCA in the UK, CySEC in Cyprus, and FSCA in South Africa. The broker offers a comprehensive range of trading instruments, including Forex, Stock Indices, Commodities, Bonds, Cryptocurrencies, Stocks, Bonds, ETFs, Furures, Options, and more. TickMill supports both MetaTrader 4 and MetaTrader 5 platforms that are known for their advanced charting tools and user-friendly interface. Notably, the company takes pride in providing efficient customer support services that are available five days a week, ensuring seamless trading experiences for its users. Over the years, TickMill has earned high recognition for its low spreads, fast execution, and innovative features such as its auto-trade copying service.
As for welcoming new traders, TickMill offers a 'Welcome Account' with a $30 no-deposit bonus. This incentive allows novices to experience live trading conditions and grow their trading skills without risking any personal capital. However, this bonus comes with terms and conditions: the bonus is not withdrawable, but any profits made through trading with the bonus funds can be withdrawn after trading at least 5 standard lots within a specified period. Besides, only the profits are allowed to be withdrawn and not the bonus amount itself, ensuring a win-win solution for both the broker and the client. In essence, TickMill's no-deposit bonus is an appealing attribute for new traders, encouraging them to explore forex trading.
Windsor Brokers
 |
|
Broker |
|
Regulated by |
|
Min. Deposit |
$100 |
Tradable Instruments |
Forex, Spot Metals, shares, Indices, energies UK Crude, US Crude, Natural Gas, Heating Oil |
Trading Platforms |
MT4 |
Trading Costs |
Ultra-low spreads, commission-free on CFD trading |
Max. Leverage |
100:1 ( for professiona traders) |
No Deposit Bonus |
$30 welcome bonus |
Demo accounts |
✅ |
Copy Trading |
✅ |
Payment Methods |
Bank Wire, VISA, MasterCard, Local Bank Transfers, Neteller, Skrill, UnionPay, WebMoney |
Customer Support |
5/24 |
Established in 1988, Windsor Brokers is a veteran in the trading industry with its roots in Jordan but mainly regulated by the Cyprus Securities and Exchange Commission (CySEC). The broker offers a robust portfolio of trading instruments, including forex pairs, commodities, stocks, cryptocurrencies, indices, futures, and CFDs. Clients can access these assets through MetaTrader 4 trading platform. With a keen focus on client satisfaction, Windsor Brokers provides impeccable customer support with multilingual assistance available five days a week. Thanks to its strong regulation, solid reputation, competitive spreads, and user-friendly platforms, Windsor Brokers has solidified its place in the trading world, well-recognized by traders globally.
Windsor Brokers shows its sincere welcome to novice traders by offering a generous $30 no-deposit bonus. The bonus aims to give newcomers a risk-free start in the world of trading, allowing them to build confidence and gain experience without investing personal capital. However, the bonus comes with requirements. The bonus itself is not withdrawable, but traders can withdraw any profits made from the bonus after executing a minimum of 10 micro-lots and providing at least 50 lots in trading volume. Anyway, Windsor Broker's no-deposit bonus initiative serves as a great starting point for new entrants in the trading market.
JustMarkets
 |
|
Broker |
|
Regulated by |
|
Min. Deposit |
$10 |
Tradable Instruments |
Currency pairs, energies, indices, stocks, commodities, metals, and cryptocurrencies |
Trading Platforms |
MT5, MT4, Social Trading |
Trading Costs |
Spread from 0 pips on Raw Spread accounts. |
Max. Leverage |
3000:1 |
No Deposit Bonus |
$30 welcome bonus |
Demo accounts |
✅ |
Copy Trading |
✅ |
Payment Methods |
Bank Transfers, Credit/Debit Cards, and popular e-wallets like Skrill or Neteller |
Customer Support |
5/24 |
Established in 2012, JustMarkets is a well-regarded broker, registered in Seychelles, operating under the regulatory oversight of CYSEC in Cypurs. The broker provides access to over 260 trading instruments, including forex pairs, commodities, indices, cryptocurrencies, futures, and CFDs. With multiple trading accounts offered, only $10 can start real trading, making it easily accessible for most tarders, especially beginners. It supports renowned platforms like MetaTrader 4 and MetaTrader 5, renowned for their advanced tools and intuitive layout. Customer support at JustMarkets is top-tier, available for clients five days a week. The broker has earned a solid reputation among traders worldwide, primarily due to its competitive spreads, swift order execution, and unique features such as its trader education resources and advanced charting tools.
Encouragingly, JustMarkets offers a $30 no-deposit bonus. This feature allows those new to trading to start without investing personal capital, thus decreasing their risks while gaining practical experience. It's important to note, however, that the bonus isn't withdrawable--the primary goal is for educational purposes and to provide a realistic trading experience. But profits generated from bonus trading can be withdrawn after certain conditions are met, such as a specific number of trades or trading volume.
RoboForex
 |
|
Broker |
|
Regulated by |
|
Min. Deposit |
$10 |
Tradable Instruments |
Stocks, ETFs, Metals, Indices, Currencies |
Trading Platforms |
R StocksTraderR MobileTrader / R WebTraderMetaTrader 4MetaTrader 5 |
Trading Costs |
Pro Cent: floating spreads from 1.3 pips, Pro Account: floating spreads from 1.3 pipsR StocksTrader: spreads from 0.0 pips, ECN: spreads from 0 pointsPrime: Floating spreads from 0 points |
Max. Leverage |
2000:1 |
No Deposit Bonus |
$30 welcome bonus |
Demo accounts |
✅ |
Copy Trading |
✅ |
Payment Methods |
AstroPay, Skrill, Neteller, Perfect Money, STICPAY, VISA/MasterCard/JCB/CUP, QR & Vouchers , Western Union |
Customer Support |
7/24 |
Launched in 2009, RoboForex is a recognized broker with its registered office in Belize. The brokerage is regulated under CYSEC in Cyprus, and IFSC in Belize, ensuring reliable and transparent services. RoboForex offers a considerable array of tradable instruments, including Stocks, ETFs, Metals, Indices, Currencies. The broker's primary trading platforms are R StocksTrader, R MobileTrader / R WebTrader, MetaTrader 4, MetaTrader 5 all revered for their robust capacities and intuitive navigation. RoboForex's commitment to exceptional customer service is evident with a support team available 24/7. This broker has managed to gain positive user recognition for its competitive spreads, expedited execution, and unique offerings such as CopyFX and RoboForex Analytics center.
In terms of promotional bonuses, RoboForex features a ‘Welcome Bonus’ of $30 for new clients, which requires no actual deposit. This provides a risk-free starting point, allowing new clients to get acquainted with real market conditions without risking their own capitals on the line. Please remember, the bonus isn't withdrawable but any profits made through this bonus can be withdrawn after satisfying trading requirements, including a minimum trading turnover. It's recommended, as always, to carefully review the associated terms and conditions prior to application. Indeed, RoboForexs no-deposit bonus showcases the broker's dedication to provide beneficial trading conditions for its clients.
ForexChief
 |
|
Broker |
|
Regulated by |
|
Min. Deposit |
$0 |
Tradable Instruments |
Forex, Metals, Commodities, Indices CFDs, Crypto CFDs, Stock CFDs |
Trading Platforms |
MetaTrader 4, MetaTrader 5, xChief App |
Trading Costs |
Cent: spreads from 0.9 pips, no commissions charged |
Max. Leverage |
1000:1 |
No Deposit Bonus |
Up to $100 |
Demo accounts |
✅ |
Copy Trading |
✅ |
Payment Methods |
Bank Wire, Debit/Credit Cards, Skrill, NETELLER, Advanced Cash, Perfect Money, FasaPay, etc. |
Customer Support |
7/24 |
ForexChief, established in 2014, is an offshore broker headquartered in Vanuatu, regulated by the Vanuatu Financial Services Commission (VFSC). Being regulated offshore, this broker gains a solid repuatation after years of operation. ForexChief provides a broad array of trading instruments, including forex, commodities, indices, and CFDs on stocks. The broker primarily supports MetaTrader 4 and MetaTrader 5 platforms, which are revered for their advanced functionalities and user-oriented interface, as well as its properietary trading app called xChief App. ForexChief maintains a high level of customer support with a qualified team available five days a week. Over the years, the broker has gained high user recognition for its low spreads, advanced trading features and an unusual feature, the 'transparency' report card, which provides an in-depth analysis of order execution quality.
When it comes to promotions, ForexChief stands tall by offering a generous $100 Welcome Bonus, requiring no initial deposit. This bonus allows new clients to learn real trading and gain experience without risking personal funds. However, unlike most other brokers, ForexChief does allow traders to withdraw the bonus and its profits after fulfilling required trading volumes. These requirements specify that the client should make transactions with a total volume of 10 lots and the total of transactions is over 50.
Forex Trading Knowledge Questions and Answers
Are no deposit bonuses really free?
In essence, no deposit bonuses in forex trading are free in the sense that they do not require you to use any of your own capital to get started. However, in the purest, these bonuses are not “free money”. They are often subject to certain conditions before any profits made from the bonus can be withdrawn.
Typically, these conditions involve a certain number of trades or trading volume that must be met within a certain period. In many cases, the bonus itself is not withdrawable-only the profits made from that bonus can be withdrawn. Moreover, such bonuses are generally introduced as a promotional feature to attract new traders, offering them a platform to learn and understand forex trading without having any significant financial risk. So, while the funding from the bonus is indeed free, reaching a point where profit can be freely withdrawn often requires several trades and a significant amount of active trading.
What are different types of no deposit bonuses?
Brokers tend to provide “ no deposit bonus” to serve as a promotional strategy to encourage and attract new clients. Here let's explore what types of no depoist bonuses are there:
Welcome Bonus: This is the most common type of no deposit bonus offered to new clients upon opening a trading account, to give newcomers a chance to test the trading platform without any intial deposit. Typically, many brokers offer welcome bonuses between $30 to $100
Volume Bonus: This type of bonus rewards traders based on their trading volume. Even though no deposit is required initially, the bonus is granted after a trader fulfills a trading volume within a certain timeframe.
Free Margin Bonus: Some brokers offer a no deposit bonus that can be used as additional margin (Free Margin Bonus), allowing traders to open larger positions in the market, which can potentially lead to substantial profits.
Cash Bonus: This is a fixed amount of money added to the trader's account as a reward for registration or account verification, usually much smaller than other types of bonuses.
Rebate Bonus: This unique type of no deposit bonus returns a portion of the spread or commission to the traders, effectively reducing the cost of their trades.
Loyalty Bonus: Aimed at retaining long-term traders, this bonus rewards active and loyal clients, usually based on a point-system correlated with trading activity.
How do I claim a no deposit bonus?
Step 1: Account Registration
Claiming a no deposit bonus involves a series of steps. First, conduct a thorough search of which reliable brokers are offering a no deposit bonus. Register with the chosen broker, ensuring all criteria for eligibility are met. This typically involves completing a sign-up form with your details and possibly verifying your identity.
Step 2: Bonus Activation
Some brokers might automatically credit the bonus to your account after registration, while others might require you to claim the bonus. To claim, there may be an option in your account settings or you may need to contact customer service.
Step 3: Bonus Terms and Conditions
Reading and understanding the bonus terms and conditions is vital. These outline the parameters for trading, volume requirements and withdrawal conditions.
Step 3: Start Trading
Once the bonus is credited to your account, you can start trading. Each trade you make will contribute to fulfilling the bonus requirements.
Are no deposit bonuses safe to use?
Yes, no deposit bonuses are generally safe to use, provided you are trading with a trustworthy and regulated broker. However, you must review terms and conditions attached to them. These bonuses are usually meant to attract new clients, offering them a risk-free way to test the trading platform.
Yet, note, these bonuses often come with strict withdrawal conditions, such as a minimum number of trades or a certain trading volume that must be achieved. Moreover, the bonus itself is typically not withdrawable—its the profits made from trading with the bonus that can be cashed out, and only after meeting the broker's stipulations.
Can I claim multiple no deposit bonuses from different forex brokers?
Technically, yes, you can claim multiple no deposit bonuses from different forex brokers. There's no universal rule against it. However, tread carefully, as there are some crucial factors to consider.
Firstly, each broker has its own terms and conditions for bonuses, and they may explicitly prohibit claiming multiple no deposit bonuses, even across different accounts. Always read and understand the fine print before claiming any bonus. Secondly, Some brokers may identify and ban users who try to claim multiple bonuses through suspicious activity. This could include using the same personal information or IP address across different accounts. Lastly, claiming multiple no deposit bonuses can be seen as bonus abuse by brokers as they aim to attract new customers with the bonus, not reward someone for signing up on multiple platforms with no intention of long-term trading.
Is it possible to make a profit using the no deposit bonus?
Making a profit by using a no deposit bonus is possible. Yet,making consistent profits solely using a forex broker no deposit bonus is quite challenging and unrealistic for most traders. Many brokers tend to offer a relatively modest bonus amount, say around $30. For traders, it can indeed pose a challenge to trade effectively with this size, to support their strategies and achieve their trading goals. Even increasing the leverage can turn risky and doesnt necessarily simplify the task of generating profits.
About WikiFX
On WikiFX.com, our evaluations of online forex brokers, along with their offerings and services, are derived from the data we've gathered and the informed insights and professional perspectives of our expert researchers. We conduct a thorough review of each broker's regulatory compliance, commission rates and charges, minimum deposit needs, leverage availability, performance of the trading platform, and the speed of withdrawal processes. Through our technologically-backed assistance, we strive to ensure you have a understanding of these aspects. We sincerely maintain an updated leaderboard of top brokers and offer extensive forex guides. With a catalog of over 50,000 brokers regulated by 30+ authorities,boosting confidence and simplifies trading experiences for your forex journey.
Disclaimer: All information published in this article is intended for informational purposes only, and it should not be considered as individual recommendations.
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