6 Best No Deposit Bonus Forex Brokers in Malaysia in 2024

Broker	HYCM
Regulated by	ASIC, DFSA, CYSEC,  FSC
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 Notably, the bonus isn't withdrawable, but any profits made from trading with the bonus can be withdrawn after fulfilling certain requirements, including a minimum trading volume.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.

Broker	TickMill
Regulated by	FCA, CYSEC,  FSCA,  LFSA
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 Pro: spreads from 0.0 pips, commissions from $2 per side per lot VIP: spreads from 0.0 pips, commissions from $1per side  per lot
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.

Broker	Windsor Brokers
Regulated by	CYSEC, FSA,  FSC
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.

Broker	JustMarkets
Regulated by	CYSEC, FSA
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.

Broker	RoboForex
Regulated by	CYSEC, NBRB, FSC
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.

Broker	ForexChief
Regulated by	VFSC
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 Classic:  spreads from 0.6 pips, no commissions charged DirectFX: spreads from 0.3 pips, commissions at $2.5 per side per lot xPRIME: spreads from 0.0 pips, commissions at $3 per side per lot
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.

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.

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. 

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.

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.

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.

 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.