Best Apps for Trading Without Investments in Malaysia
Many investors make the mistake of thinking they need extensive knowledge and lots of money to begin trading. Luckily, that couldn’t be further from the truth. In fact, there are several brokers that offer traders contests, no-deposit bonuses, affiliate programs, etc., which make it possible to begin making trades with little to no money out of pocket. Nevertheless, not all apps are created equal. That said, here is a closer look at the best apps for trading without investments in Malaysia.
Can I make money in trading without investing in Malaysia?
If you are interested in making money without investing in Malaysia, it is certainly possible. Here is a list of the best methods of doing just that:
Forex no-deposit bonuses: One of the top ways to go about making money without investing is by taking advantage of Forex no-deposit bonuses. These are bonuses provided to new users for simply creating an account. Once you sign up and provide enough details for verification, you will receive your Forex deposit and may use it to trade. Users should be advised that these deposits are often minimal, around $30-$50.
Broker affiliate programs: Another way to make trades without investing is by joining a broker affiliate program. These programs allow users to earn money by referring others to the broker. Every broker has different perks and prices, but broker affiliate programs can enable users to earn a substantial income.
Broker competitions: One lesser-known way to make money trading without investing is broker competitions. These are competitions that allow users to trade using virtual funds and compete for prizes such as trading credits, cash, and more. No matter what the prizes are, if you win, you will likely earn a reward that allows you to invest without using your own money.
Forex-funded trading programs: Lastly, Forex-funded trading programs are programs that involve using prop firms to provide users access to a Forex Funded Account. This allows traders to use up to $100K to invest without using their own funds. Traders should be advised that every prop firm has different rules based on its unique risk profile; it is also difficult to gain access to these programs.
Best Forex trading apps in Malaysia to earn money without investment
RoboForex MT4 and RTrader apps
RoboForex has been in operation since 2009 and is one of the Best MetaTrader 5 brokers, with a wide range of features and trading tools. RoboForex can help you trade without a deposit in any of the following ways:
No deposit bonus: RoboForex has a ‘30 USD welcome bonus’ which you can use to start trading immediately. Open a standard or cent account on RoboForex, and ensure it has EUR or USD as the base currency. Verify your account, add your contact details, and you will get an email code to verify and receive your $30 bonus.
Demo deposits: since 2011, RoboForex has been offering demo account contests for all traders using demo accounts. Once you open a demo account with this platform, you will see a demo contest section with multiple contests that you participate in. Sign up and get the chance to win real money deposited into your account immediately. There are no limitations to how you can use the money.
Affiliate program: RoboForex allows traders to become partners through the affiliate program and win a commission, which is deposited into their accounts. You will use a referral link to sign up and fill in your details.
InstaForex
InstaForex is a well-established Meta 5 broker with European regulation. This platform was established in 2005 and has more than 7 million traders. InstaForex allows users to trade without deposit in the following ways:
No deposit bonus: InstaForex gives new users a no deposit of $3500 to jumpstart their trading career. To get this bonus, you should open a live account (not demo), fill in your correct details, and automatically deposit your bonus into your account.
Trader contests: InstaForex offers exciting contests to users of both demo and live accounts, allowing them to win real prizes. To participate, open a live or demo account and head to the contests section to try your luck as you sharpen your trading skills!
Affiliate program: InstaForex affiliate programs are a great way to earn commission and make money without investment. Sign up for the platform's affiliate program, and invite referrals. You will earn a commission every time a referral signs up.
InstaForex Bonus – How to Get Forex Bonus for FreeXM Group MT4/MT5
Founded in July 2008, XM is an MT5 forex broker based in Belize City. It allows trading of more than 55 currency pairs and has great bonuses ideal for beginner and experienced traders. If you are interested in trading XM but don’t have the initial deposit, you can get the chance to go through the following ways:
No deposit bonus: XM has a no- deposit bonus of $30, which you cannot withdraw but can use to trade. This bonus is only available for first-time traders who have never opened an account with the platform. To get it, open a live performance, verify it, and the amount will be deposited automatically to your account.
Forex contests: XM contests are available in both real and demo accounts, and interested traders can win generous, real money prizes if they win. To participate, open an account with the platform, head to the contest section, choose a contest, and check the dates to ensure it’s valid.
Affiliate program: XM partners have a great chance to earn up to $25 commission per lot. If interested in joining the program, open an account and sign up. You will get a code your referrals will use as you earn a commission.
XM Bonus Programs - How to Get Up to $5.000AMarkets
AMarkets is another example of the best brokers with Forex bonuses. This platform offers a $50 no-deposit bonus as a welcome bonus to new customers. This means investors do not have to make a deposit in order to receive the bonus. They also offer a switch your broker bonus of 20%. Traders who move their account to AMarkets, including open positions, receive a 20% bonus on the deposit.
Amarkets Bonus ProgramsAlternative options. Best Forex funded trading accounts in Malaysia
Topstep
Topstep is an international proprietary trading company registered in the USA. The company has been providing financial services since 2012 and offers exclusive trading terms for clients from different countries. Topstep provides financing of real trading accounts of its clients if they prove the skill to make trades and manage risks on a simulation account. Traders can attract up to $500K. Traders can trade CME Group futures and currency pairs. Trading on real accounts is carried out through the ECN broker Equiti Capital.
Topstep Affiliate Program ReviewEarn2Trade
The Earn2Trade educational company was established in 2017 and is headquartered in Wyoming, USA. It offers retail traders learning courses to become professionals, as well as virtual accounts to trade futures. The best students who trade successfully under set parameters are given access to capital of proprietary trading companies in amounts from $25,000 to $200,000. Earn2Trade has three rate plans with subscriber fees from $90 to $429.
Rules and Regulation
Licensing in Malaysia
Forex trading in Malaysia is regulated by the Securities Commission Malaysia (SC) under the Capital Markets and Services Act 2007. The regulatory framework aims to ensure market integrity, investor protection, and financial stability in the Forex market. Investors should trade with licensed brokers, conduct due diligence, and stay informed about their rights and protection to mitigate risks associated with Forex trading.
Investor protection in Malaysia
Forex investors in Malaysia are protected by the Securities Commission Malaysia (SC), which regulates the Forex market and ensures the integrity of the financial system.
Malaysia has policies to protect Forex investors:
- licensing of Forex brokers;
- restrictions on Forex trading.
Taxation in Malaysia
Forex taxation in Malaysia is governed by the Inland Revenue Board Malaysia (IRBM), which administers the country's tax laws. Forex traders are required to report their trading income to the IRBM and pay income tax on their profits at the applicable tax rates. Malaysia has progressive income tax rates, ranging from 0% to 30%, depending on the individual's total taxable income.
Can I start trading without a minimum deposit?
LoremAlthough many people seem to believe large deposits are required to start trading, this couldn’t be further from the truth. In fact, many brokers require minimum deposits starting anywhere from $1-$10. Moreover, there are also various brokers who don’t require a deposit at all. In some instances, these brokers also offer no-deposit bonuses or allow you to participate in a trader's contest. Specifically, when dealing with funded trade accounts, investors can raise a lot of funding, but there is usually a plan subscription fee of $50-200.
Prop Trading Accounts ComparedHow much do I need to earn decent money?
How much money you need to earn decent money can vary. This is because the amount of money each person would be satisfied with depends on their own finances and investment goals. Either way, in order to earn decent money, you usually need to invest about $1,000 or more. Therefore, if you start from scratch, it will take time to learn and build capital. Fortunately, bonuses and other programs can help you build your money up faster.
How to choose a trading app in Malaysia?
If you are wondering about the best practices for choosing a trading app in Malaysia, you simply need to focus on the following variables:
Safety
One of the top things you will want to focus on is the level of safety of the platform. No matter how much money you stand to make, the level of safety plays a major role in how effective the platform is. This is because the safety level enables you to know the likelihood that your money and assets will be kept safe and secure. Therefore, you should take the time to learn more about the safety mechanisms being offered by your current broker. Be sure to check if the platform offers various security mechanisms such as encryption, two-factor authentication, anti-fraud tools/features, and how they manage and store your personal data in general. Generally speaking, you will find that most reputable brokers do all these things and more. If you notice that a broker is cutting corners and is not properly secured, this is a red flag, and you should avoid the platform at all costs.
Security
Another very important feature to be aware of is security. No matter what the platform is offering, it means nothing if you don't trust the platform you're using. Since there are so many new brokers on the market, you should definitely make sure your chosen broker is reliable and secure. Fly-by-night brokers do exist, and unfortunately, some are literally here today and gone tomorrow.
Therefore, you should pay careful attention to how long the broker has been in existence. Before signing up, make sure you take the time to search for the history of the broker and how it’s regulated. Moreover, all reputable brokers should have insurance to protect clients in case of bankruptcy. Depending on the organization governing the broker, these insurance policies apply to everything from ISAs to IRAs and much more. Before investing your money, make sure it's protected by specific agencies and regulations.
Ease of Use
You will also want to focus on ease of use. This is especially true if you are not an experienced trader. Some platforms can be very complex and can take too much time and effort to learn when you are just beginning your trading career. Take the time to explore the interface and how it functions before signing up. One of the best ways to go about this is by choosing a broker that offers a demo account. In doing so, you can essentially begin using the platform before investing a dime of your own money.
How to Choose a Forex Broker?How to trade without investment
Lorem If you want to trade without investment, simply complete the following steps:
Do Some Research: The first step is to conduct some research in terms of which programs are available in the area. You should be looking for no-deposit bonuses, welcome bonuses, affiliate programs, broker competitions, and Forex-funded trading programs.
Choose Your Program: Next, you will want to choose the program that can help you earn the most. Depending on your knowledge and network, this may be a no-deposit bonus, an affiliate program, or maybe even a Forex-funded trading program.
Choose/Sign Up: Once you know which program you are most interested in, you can begin searching for all the brokers that offer those features. From there, you can take the time to provide the necessary information and fulfill all requirements in order to participate in your chosen program.
Start Trading: Once you have signed up for your chosen broker/program, you can begin taking advantage of the perks being offered.
FAQs
Can I start trading with no money in Malaysia?
Yes, you can start trading with no money in Malaysia. To do so, you simply need to do some research to find out which brokers offer benefits such as sign-up bonuses, affiliate programs, etc.
How can I make money online in Malaysia without investment?
There are various ways to make money online in Malaysia without investments. In the case of making trades without investment, investors can take advantage of no-deposit bonuses, broker affiliate programs, broker competitions, as well as Forex-funded trading programs.
What are the best prop trading Firms in Malaysia?
The best prop firm can be subjective, as it depends on each individual’s finances and goals. However, some of the top prop trading firms are Topstep, FTMO, and Earn2trade.
Which brokers have a no-deposit bonus in Malaysia?
Some brokers that have no deposit bonuses in Malaysia are XM, HFM, Tickmill, FBS, and Admirals. However, these lists are subject to change over time. Some may quit offering these bonuses, while other brokers may start new programs.
Team that worked on the article
Andrey Mastykin is an experienced author, editor, and content strategist who has been with Traders Union since 2020. As an editor, he is meticulous about fact-checking and ensuring the accuracy of all information published on the Traders Union platform. Andrey focuses on educating readers about the potential rewards and risks involved in trading financial markets.
He firmly believes that passive investing is a more suitable strategy for most individuals. Andrey's conservative approach and focus on risk management resonate with many readers, making him a trusted source of financial information.
Ivan is a financial expert and analyst specializing in Forex, crypto, and stock trading. He prefers conservative trading strategies with low and medium risks, as well as medium-term and long-term investments. He has been working with financial markets for 8 years. Ivan prepares text materials for novice traders. He specializes in reviews and assessment of brokers, analyzing their reliability, trading conditions, and features.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).