Best no-deposit bonuses in Malaysia
Forex bonuses are a type of marketing strategy employed by brokers to draw in new clients. One of the benefits of the Forex no-deposit bonus is that the brokers use their funds as the trader's first deposit. In Malaysia, brokers auto-deposit their funds even if a trader doesn't deposit any funds into their account. However, with the benefits comes the risk. By rule, you cannot withdraw no-deposit bonuses unless you attain a specific trading volume. But you can still withdraw the profits you earned using the bonus funds.
This article will discuss no-deposit Forex bonuses in Malaysia, the best types, and the best Forex broker for this service in Malaysia. Readers will learn about the Forex bonuses and whether they are legit or not. Moreover, they will learn how to choose the best Forex no-deposit bonus in Malaysia. Plus, there are some frequently asked questions to clear up their confusion.
Best Forex brokers with no-deposit bonuses in Malaysia
Many brokers allow you bonuses to start your trading. However, only some brokers with bonuses benefit novice traders. Often, brokers offer good bonuses but impose harsh conditions for withdrawal. For example, some brokers allow no-deposit bonuses but set difficult-to-achieve thresholds such as a trader must maintain a particular volume of trades to withdraw bonus funds, which is hard for a novice trader. Brokers advertise themselves as a beneficiary to traders but act harshly when you join.
Apart from this, some companies have better and lenient requirements, but the no-deposit bonuses offered are not enough for a beginner trader. The best Forex broker with a bonus in Malaysia provides an excellent no-deposit bonus and has reasonable requirements for withdrawal.
Below are some of the best Forex brokers with bonuses in Malaysia:
RoboForex
RoboForex offers you a welcome bonus of $30, which you can use to trade. However, with this $30 bonus comes the requirement to deposit a minimum amount of $10. RoboForex has a condition that bonuses cannot be withdrawn, but profits can be withdrawn without restrictions.
TeleTrade
TeleTrade offers a bonus of $1,000. However, they require you to deposit at least $1,000. The bonus goes up by $1,000 for every $1,000 that is deposited. You can withdraw your bonus but must meet a specific trade volume.
InstaForex
InstaForex offers a $2,000 bonus with a no-deposit benefit. You don't need to deposit any funds into your account and can receive this $2,000 as a bonus for trading. But you can't take out these bonus funds; after meeting the conditions, you can only take out profits.
InstaForex Bonus – How to Get Forex Bonus for FreeTypes of RoboForex bonuses
According to research and analysis by the Traders Union, RoboForex has the best bonus conditions. Each type of bonus is reviewed separately below.
Deposit bonus
RoboForex offers a bonus of up to 120% on your deposit. However, you must verify your account after registering to receive the bonus amount. RoboForex's terms are also seen as more flexible than those of its peers because you can withdraw bonuses from this broker. However, withdrawing deposit bonuses is subject to some conditions. Additionally, you can withdraw your profits without any restrictions or conditions.
Best Forex Deposit bonusesWelcome bonus
As stated above, RoboForex offers a welcome bonus to its new traders. This bonus is worth 30 USD, and you can get it if you sign up for an account on RoboForex, verify it, and put at least 10 USD in it. You can receive this $30 bonus and use it for trading. Unfortunately, RoboForex doesn't allow traders to withdraw these bonus funds. However, you can still withdraw your profits.
Best Forex Brokers With welcome BonusesProfit share bonus
RoboForex is stated to be the most beneficial for traders because it combines good conditions with good bonuses. A trader can turn the profit share bonus on while making a deposit. The broker will then add an amount equal to 60% of the deposit. This bonus is one of a kind, but it has a downside: it can't be cashed out. However, the money made from this bonus can be cashed out easily.
Are Forex bonuses lawful in Malaysia?
This is a wise question because it will guide your choices. In Malaysia, where the Forex market is extremely popular, the bonuses offered by these brokers are legitimate. Forex bonuses are a tactic used by brokers to attract new clients. Without bonuses, there's a high chance that new people won't be very interested. Brokers like RoboForex offer a variety of bonuses to attract new clients. However, with bonuses being lawful in Malaysia, there are conditions imposed by these brokers. The fact that bonuses are lawful in Malaysia doesn't mean that brokers do not set various and complex requirements.
21 Best Forex Brokers MalaysiaHow to choose the best no-deposit Forex bonus in Malaysia
Selecting the top no-deposit Forex bonus in Malaysia is crucial because it improves your trading.
The following are some factors to consider when choosing the best no-deposit Forex bonuses in Malaysia.
Regulations
You must confirm the broker's legality, dependability, and possession of a current license.
You should also check the broker's authorization to sell and provide services in your country.
These things are very important because many brokers don't have the licenses they need or aren't allowed to work in some places.
Terms and conditions
Before accepting a no-deposit Forex bonus, you should always read the terms and conditions. This will help you find the best bonus. Brokers often put restrictions on bonuses, like making it impossible for a trader to cash out a bonus. Some brokers say that traders can't cash out bonuses until they've made a certain number of trades. You must read the terms and conditions carefully and decide what suits you best.
Time limits
The third step is to see if there are time limits. Brokers are clever; they set time limits for the bonuses. For example, a trader will have 30 days to trade using their bonus funds.
FAQ
Can I withdraw profits from the no-deposit bonus?
Yes, you can. Almost every broker allows traders to withdraw profits effortlessly from the no-deposit bonus.
Do I need to verify my account to receive my bonus?
Yes, you need to verify your account to receive the bonus. Brokers impose this condition on the bonus so that, without verification, no trader will be able to enjoy the bonus.
Is it possible for a broker to recall its bonus?
Unfortunately, yes. The reason for recalling the bonus is a violation of general rules and regulations or rules for using the bonus.
What are the common mistakes made by traders with no-deposit bonuses?
Some common mistakes by traders are that they do not read the terms and conditions of the bonus. Secondly, they deposit an enormous amount to get a good bonus. However, this doesn't help.
Team that worked on the article
Oleg Tkachenko is an economic analyst and risk manager having more than 14 years of experience in working with systemically important banks, investment companies, and analytical platforms. He has been a Traders Union analyst since 2018. His primary specialties are analysis and prediction of price tendencies in the Forex, stock, commodity, and cryptocurrency markets, as well as the development of trading strategies and individual risk management systems. He also analyzes nonstandard investing markets and studies trading psychology.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
The topics he covers include trading signals, cryptocurrencies, Forex brokers, stock brokers, expert advisors, binary options. He has also worked on the ratings of brokers and many other materials.
Dr. BJ Johnson’s motto: It always seems impossible until it’s done. You can do it.