A no deposit bonus in forex trading is a bonus that is offered by brokers without traders depositing money in their trading accounts. Once you open a trading account, you receive real money. This money can be used to trade financial instruments in the real markets. Whether you can withdraw it or not, that depends on the T&C of the broker. However, any profit made with this bonus can be withdrawn from the account.
It can be a bit challenging to find a broker that offers forex no deposit bonus in Malaysia, but you can find them. While choosing a broker, however, do not only focus on bonuses and promotions. You also need to see if all trading conditions provided by the broker suit you and work to your advantage. The biggest perk of the no deposit bonus is that just like a demo account, you can trade without risking losing your real money. You can, however, experience live trading on live accounts with the bonus money provided by the broker.
Why Is a No Deposit Bonus Offered?
There are many reasons why a broker may offer any type of bonus, like a no deposit bonus. Creating value for its clients as a trader can be one of the main reasons; another is to attract beginners to the forex industry and to that particular broker. Forex markets in most parts of the world accept this method, except for Europe. The regulators in the EU do not allow these types of bonuses. ESMA does it in order to protect new traders from engaging in forex trading without proper knowledge about the risks of the market and losing their hard-earned money ultimately. Malaysia, however, is in Asia. So, you can definitely enjoy trading on a broker with no deposit bonus in this country.
There are a few crucial things that you must check while choosing the bonus, and the broker providing it. First, it is essential to go through the terms and conditions cautiously. It will help you understand exactly what is offered for free. Moreover, you must also consider the overall offering of the broker. It means, you must not only focus on the bonus amounts but other things it offers, including –
- Regulations
- Financial instruments
- Minimum deposit
- Trading platforms
- Trading and analysis tools
- Spreads and commissions
- Payment options
- Demo account
Top Brokers Offering Bonuses
If you are a trader from Malaysia, these are some of the brokers you may choose from to trade with no deposit bonus –
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1. FXTM
Regulated by FCA, FSCA, FSC, MIFID-ESMA, and CySEC, FXTM is one of the most popular names in the forex industry. The broker features a strong bonus infrastructure. You can get a $30 no deposit bonus by registering with the broker. Additionally, it also offers a brilliant loyalty program. According to this program, the more a trader trades, the more they are paid. You can earn as much as $10,000 from it. You can also participate in contests held on both demo and live trading accounts. Here, traders can win exciting prizes by competing against each other. Click here to visit the official website of FXTM.
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2. XM
Regulated by MIFID-ESMA, CySEC, and ASIC, XM offers a wide range of bonuses and promotions. The first one is its $30 no deposit bonus that can be used for entirely risk-free trading with real money. Apart from that, the broker also offers a deposit bonus of up to $4500. You can also take part in a lucky draw with a huge amount of $1,000,000. As a regular trader of XM, you can also join the point-based loyalty program. These points can be redeemed through the trading actions of the traders to acquire a great range of trading benefits. Visit the official website of XM by clicking here.
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3. InstaForex
Licensed by FSC, MIFID-ESMA, and CySEC, InstaForex is a very reliable broker preferred by a large number of traders in the forex industry. The broker offers a $1000 no deposit bonus to its users. Apart from this excellent no deposit bonus, InstaForex also offers a 30% deposit bonus. So, whenever traders fund their accounts, they get an extra 30% on top of their initial deposit. This money can be used as risk-free funds to trade in the financial markets. Moreover, the broker offers a wide range of contests and challenges that you can participate in with a demo account only. By winning these, you can win great prizes including money, cars, and more. Click here to start trading with InstaForex.
- 4. RoboForex
RoboForex is another reputable and reliable broker regulated by top-tier financial bodies like MIFID-ESMA and CySEC. The traders are provided with a welcome bonus of $30 upon joining the broker. Apart from it, RoboForex also offers a deposit bonus. Based on how much a trader deposits, they can get 10%, 60%, or even 120% as a deposit bonus. You may also enter free contests held weekly and monthly through demo and live accounts. Do not forget about the cash rebates up to 15% either, that are provided to regular traders, depending on how much they trade. Visit RoboForex by clicking here.
- 5. FBS
FBS is well-known in the forex industry because of offering some of the best bonuses and promotions. Licensed and authorized by MIFID-ESMA, FSCA, ASIC, and CySEC, FBS offers an extensive range of prizes from new cars to holidays. Apart from its no-risk no deposit bonus, the broker offers a cashback bonus if you can meet certain conditions. A 100% deposit bonus is also offered to traders that can double your deposit. You may partake in challenges and contests to win cash, VIP event invitations, and trips. Start trading with FBS by clicking here: https://fbs.com/.
- 6. FxOpen
Regulated by FCA and ASIC, FXOpen is another great broker that offers bonuses and promotions. You can get a $10 no deposit bonus instantly by signing up with the broker. FXOpen also offers a $1 welcome bonus for beginners on micro accounts. With this, traders can trade with lower risk levels using this free money. Like many other brokers, it also holds a great number of trading contests that come with unique prizes. You can win the prize by participating in the contests with virtual funds and reach a specific benchmark. The prize is that you can turn 10% of the virtual funds into real money which you then can use to trade in real markets. Visit this link to start trading with FXOpen.
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7. HotForex
Registered with MIFID-ESMA, FSC, and CySEC, HotForex offers its powerful bonus infrastructure to many countries, except for Europe. The first one of the broker’s unique bonuses is the 100% credit bonus. This entirely free bonus doubles your deposit. Another unique bonus is the 30% rescue bonus that protects clients’ funds from drawdowns up to $7000. Then there is the 100% supercharged bonus that offers a large amount in cash rebates up to $8000. It also offers a no deposit bonus of $30 that you can receive just by registering with the broker. However, keep in mind that the bonuses are not available with every entity on the broker. To start trading with HotForex, click on this link.
Conclusion
If you are looking for a broker, keep in mind that the no deposit bonus is only one of the many factors you should consider. You should not make a big deal out of it while making your decision. Go for a well-regulated and reliable broker before anything. Once you have chosen a broker after considering all your trading goals and requirements, you can check what kind of bonuses it is offering. Trying the no deposit bonus is beneficial if you prefer to try a broker first because, with the bonus, you will not have to risk your money to do that.