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AuthorBy Chris Cammack
Updated: May 5, 2022

This is our list of the best Forex brokers in Malaysia. All brokers listed are trusted, have low fees and provide excellent trading education for new traders. To compile this shortlist of the best brokers in Malaysia, we tested 160+ Forex brokers catering to Malaysian clients, including all brokers regulated by the Securities Commission of Malaysia (SCM) and the Labuan Financial Services Authority (LFSA).

To test a broker, we verify that they are regulated and make sure that their trading costs are not too high, as lower trading costs provide greater opportunity to profit. We also assess the quality of their educational section and market analysis to make sure that new traders are well catered for. These are the best trading platforms in Malaysia for 2022.

  • FXTM - Best Forex Broker in Malaysia
  • OctaFX - Best Platform Options
  • Tickmill - MT4 Broker with the Lowest Trading Costs
  • Pepperstone - Best ECN Trading Execution
  • AvaTrade - Best Mobile Trading Forex App
  • XM - MT5 Broker with the Lowest Spreads
  • HotForex - Highest Leverage for Market Execution
  • Oanda - Most Trusted Forex Broker

Best Forex brokers in Malaysia 2022

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Broker
Overall Rating
Official Site
Min. Deposit
Max. Leverage (Forex)
Cost of Trading
Beginner Friendly
Regulators
Platforms
Compare
FXTM
4.33 /5
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USD 102000:1USD 15ExcellentCySEC Regulated BrokersFCA Regulated BrokersFinancial Services CommissionMT4, MT5
OctaFX
4.12 /5
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USD 50500:1USD 7StandardFinancial Services Authority – St. Vincent & the GrenadinesMT4, MT5
Tickmill
4.48 /5
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USD 100500:1USD 4ExcellentCySEC Regulated BrokersFCA Regulated BrokersLabuan Financial Services AuthorityFinancial Services Conduct AuthorityThe Seychelles Financial Services AuthorityMT4, MT5
Pepperstone
4.61 /5
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USD 0200:1USD 7.70ExcellentFCA Regulated BrokersASIC BrokersCySEC Regulated BrokersDubai Financial Services AuthorityBundesanstalt für FinanzdienstleistungsaufsichtSecurities Commission of the BahamasCapital Markets AuthorityMT4, MT5, cTrader
AvaTrade
4.48 /5
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USD 100400:1USD 9ExcellentASIC BrokersFinancial Services Conduct AuthorityBritish Virgin Islands Financial Services CommissionFinancial Services AgencyCySEC Regulated BrokersCentral Bank of IrelandMT4, MT5, Avatrade Social, AvaOptions
XM
4.25 /5
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USD 5888:1USD 16ExcellentCySEC Regulated BrokersASIC BrokersFCA Regulated BrokersInternational Financial Services CommissionMT4, MT5
IC Markets
4.46 /5
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USD 200500:1USD 8ExcellentCySEC Regulated BrokersASIC BrokersThe Seychelles Financial Services AuthorityMT4, MT5, cTrader, Zulu Trade
HotForex
4.49 /5
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USD 51000:1USD 10ExcellentCySEC Regulated BrokersFCA Regulated BrokersFinancial Services Conduct AuthorityDubai Financial Services AuthorityFinancial Services CommissionMT4, MT5
Oanda
4.25 /5
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Create Account >
Your capital is at risk
USD 0200:1USD 10ExcellentFCA Regulated BrokersASIC BrokersMonetary Authority of SingaporeInvestment Industry Regulatory Organization of CanadaBritish Virgin Islands Financial Services CommissionThe Seychelles Financial Services AuthorityMT4, MT5

Choosing The Best Forex Brokers in Malaysia

Although international brokers accept clients from most countries, trading conditions and regulatory supervision may be different for Malaysian traders. To find the best Forex broker for Malaysian residents, we need to understand account conditions for Malaysian clients in detail.

To test each broker’s trading platform, we opened an account, set up the trading software, read through the educational material, and deposited and traded 250 USD of our money. We also created all kinds of trouble for the customer service teams, read through the fine print in the client agreements, and tested how long it took to withdraw our money. In our test, we investigated:

Broker Regulation: Regulators keep an eye on Forex brokers to make sure they’re behaving legally and ethically. Some regulators, such as ASIC, the FCA, and CySEC, are better at keeping brokers honest than others. The Securities Commission Malaysia (SCM) is getting better at regulating brokers all the time, and licensing internationally recognized brokers, but only a limited selection of brokers are regulated by the SCM.

Account Supervision: Most brokers are supervised by multiple trusted international regulators. As a Malaysian resident, it is important to know which regulatory authority will supervise your trading account. It is common for internationally regulated brokers to open trading accounts for Malaysian residents under their offshore licenses which are not protected by the SCM and are open to the additional risks of broker bankruptcy, fraudulent activity, or unfavourable trading conditions like a lack of negative balance protection.  That said, the SCM does not offer better client protections than many of these offshore locations. 

Broker Trading Conditions and Costs: Better Forex brokers will often have lower trading costs, meaning that spreads are tight and minimum deposits are low. Trading execution should be lightning-fast and with little or no intervention. Forex brokers should also publish their spreads, execution policy, and a list of all CFDs available to Malaysian traders. We often see that trading conditions and negative balance protection availability change depending on a trader’s country of residence.  

Broker Education and Analysis: Brokers should offer beginner traders a coherent and well-structured trading course alongside a demo account. Brokers should supply detailed market analysis to highlight trading opportunities and provide a complete learning experience. While all material is available in English very few Malaysian brokers will offer the same material in Bahasa Malaysia.

Broker Trading Platform: Brokers will have their own trading platform or provide support for a third-party platform, such as MT4MT5, or cTrader. Some brokers will do both. Most Forex traders generally have a platform preference, so brokers with multiple platforms are more likely to have the platform a trader wants to use.  Platform availability may vary between countries of residence, so our research notes which platforms are available for Malaysian residents.


FXTM – Best Forex Broker in Malaysia

Founded in 2011 and regulated by the UK’s FCA and the FSC in Mauritius, FXTM offers trading on Forex, commodities, metals, stocks, and indices. FXTM’s Advantage Account has a minimum deposit of 500 USD, with spreads starting at 0 pips and a 4 USD commission.  But FXTM also offers a Micro Account with a 50 USD minimum deposit with spreads starting at 1.5 pips which is more appealing to beginners. The FXTM Invest CopyTrading scheme is one of the best in the industry, where traders with little experience can choose a Strategy Manager whose risk profile matches their own, and copy their trades.

FXTM FEATURES

  • FXTM Invest CopyTrading scheme: Clients can copy the trades of Strategy Managers whose risk profile matches their own.
  • FXTM has a large volume of training material, including videos, webinars, and a searchable glossary of new vocabulary to help new traders get started.
  • FXTM also offer videos covering analysis topics and advanced chart reading techniques for experienced traders.
  • FXTM are one of the few brokers with weekend support, allowing new traders to get set up on weekends.
Pros
  • Good for beginners
  • Excellent education
  • Well regulated
  • Low minimum deposit
  • Copy trading accounts
Cons
  • Expensive withdrawals
AlertAccepts Malaysian Clients. Minimum spread EUR/USD 1.50 pips on trading account with lowest minimum deposit. Islamic account available. MT4 & MT5 platforms supported. Leverage offered can vary depending on country of residence, and your trading knowledge and experience. FXTM is regulated by CySEC, FCA, FSCA, and the FSC.

OctaFX – Best MetaTrader Broker

Founded in 2011 and offering support for both MT4 and MT5, OctaFX offers trading on 32 Forex pairs, 5 commodities, 10 indices, and 5 cryptocurrencies. The OctaFX website, translated into Bahasa Melayu, features two account types and an unlimited demo account. The MT4 account is a Micro Account with floating or fixed spreads, no commission and a 100 USD minimum deposit. The MT5 account – or Pro Account – has floating spreads starting at 0.2 pips, no commission, and a minimum deposit of 500 USD. 

OCTAFX FEATURES

  • Islamic trading accounts are available for all platforms and all account types.
  • Free AutoChartist for traders with a 500 USD balance
  • Copy-trading available on all accounts
  • Constantly updated competitions and bonuses for Malaysian clients.
Pros
  • Fast and free withdrawals
  • Copy trading accounts
Cons
  • Limited range of assets
  • Restrictive account types
AlertAccepts Malaysian Clients. Average spread EUR/USD 0.70 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 platforms supported. OctaFX is regulated by CySEC & SVG FSA.

TickMill – MT4 Broker with the Lowest Trading Costs

Founded in 2014 and regulated by the Labuan FSA in Malaysia, Tickmill is an MT4 broker with some of the lowest trading costs available. While the Classic Account has relatively wide spreads and no commission, the Pro Account offers variable spreads down to 0 pips and a 4 USD (round turn) commission – one of the lowest commissions in the industry – and only a 100 USD minimum deposit. Tickmill recently started offering support for MT5 and has also added Bitcoin, Ethereum and Litecoin trading for crypto traders.

TICKMILL FEATURES

  • Islamic accounts available for all Malaysian traders
  • Islamic accounts have no additional costs for trading major currency pairs
  • VIP Account with even lower commissions (down to 2 USD round turn) but a minimum balance of 50,000 USD.
  • Excellent trading tools for MT4: AutoChartist, Myfxbook and a subsidised VPS service.
Pros
  • Tight spreads
  • Well regulated
  • Fast and free withdrawals
Cons
  • Limited base currencies
AlertAccepts Malaysian Clients. Average spread EUR/USD 0.00 pips with 4 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 and MT5 platforms supported. Tickmill is regulated by CySEC, FCA, FSCA, and the FSA-Seychelles.

Pepperstone – Best ECN Trading Execution

Pepperstone is the leading Australian ECN Forex broker. Most trades on Pepperstone have execution in less than 30ms, which is ideal for scalpers and clients who run expert advisors. Both accounts offer market execution with some of the tightest spreads in the industry – the Razor Account has spreads from 0 pips for the EUR/USD and 7 USD commission. While Pepperstone offers Islamic accounts for all Malaysian traders, the Razor account is not available as an Islamic account. 

PEPPERSTONE FEATURES

  • Award-winning, personalised customer service available 24 hours a day
  • Excellent ECN trading education for beginners.
  • Islamic accounts available with a 200 USD minimum deposit
  • All three major trading platforms: MT4, MT5 and cTrader
Pros
  • Well regulated
  • Tight spreads
  • Great platform choice
  • Wide range of assets
Cons
  • Limited market analysis
AlertAccepts Malaysian Clients. Average spread EUR/USD 0.77 pips with 0.0 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 200:1. Islamic account available. MT4, MT5 & cTrader platforms supported. Pepperstone is regulated by the FCA, ASIC, and CySEC.

AvaTrade – Best Mobile Trading Forex App

Founded in 2006, AvaTrade offers trading on Forex, cryptocurrencies, commodities, indices, stocks, bonds, vanilla options, and ETFs. AvaTrade’s redesigned AvaTradeGo mobile app offers Malaysian Forex traders an easy and intuitive mobile trading experience. AvatradeGO has a sophisticated dashboard and traders can view educational videos and contact customer support straight from the app.  It also allows traders to place orders, set price alerts, create watchlists, and view live prices and charts. Avatrade’s spreads are some of the tightest for a commission-free account with a 100 USD minimum deposit – as low as 0.9 pips on the EUR/USD.

AVATRADE FEATURES

  • Local Malaysian customer support team
  • Maximum leverage of 400:1 and negative balance protection for all Malaysian traders
  • Integrated Trading Central dashboard for all traders
  • AvaProtect Tool: Traders can purchase temporary loss protection. Losses are refunded, but profits are the traders to keep
Pros
  • Good for beginners
  • Well regulated
  • Low minimum deposit
Cons
  • Dealing desk
  • Limited market analysis
AlertAccepts Malaysian Clients. Spreads start at 0.90 pips on theEUR/USD on trading account with lowest minimum deposit. Max leverage 400:1. Islamic account available. MT4 & MT5 platforms supported. AvaTrade Group regulated by ASIC, FSCA, B.V.I FSC & FSA.

XM – Lowest Cost MT5 Broker

Founded in 2009, XM is one of the most well-regulated brokers in the Forex industry and offers CFD trading on Forex, stock CFDs, commodities, equities, precious metals, energies, and shares. The XM Ultra-Low account on MT5 has a minimum deposit of 50 USD and spreads start at 0.6 pips with no commission. In Malaysia, XM is also well known for its low-cost Islamic accounts, low trading fees and fast execution on both the MT4 and MT5 platforms. Hedging, scalping and algorithmic trading are all permitted.

XM FEATURES

  • Islamic trading accounts for all Malaysian traders.
  • Lowest cost Islamic account in Malaysia – no extra charges on MT4 or MT5.
  • The XM Ultra-Low account: A minimum deposit of 50 USD and spreads start at 0.6 pips with no commission.
  • All accounts have a no-requotes execution policy and 99.35% of XM orders are executed in less than one second.
Pros
  • Well regulated
  • Excellent education
  • Free deposits and withdrawals
Cons
  • Dealing desk
  • Wide spreads on its entry-level accounts
AlertAccepts Malaysian Clients. Average spread EUR/USD 1.60 pips on trading account with lowest minimum deposit. Max leverage 888:1. Islamic account available. MT4 & MT5 platforms supported. XM Group regulated by CySEC, ASIC, and the IFSC.

HotForex – Highest Leverage for Market Execution

Founded in 2009 and headquartered in Cyprus, HotForex is regulated by the FCA and CySEC and provides trading on Forex, commodities, indices, shares, bonds, and ETFs – though it recently stopped offering crypto CFDs. All trades are posted directly to the market, and leverage is available up to 1000:1 on the Micro Account where the minimum deposit is 5 USD. Islamic accounts are available for all Malaysian traders on all six of HotForex’ accounts, including the Micro Account. Islamic traders can hold open positions for 7 days before incurring extra charges. 

HOTFOREX FEATURES

  • Islamic (swap-free) trading available on all 6 account types
  • Tight spreads, starting at 1 pip on the Micro Account
  • Detailed market analysis for beginners and professionals, including daily market news, trade analysis, and outlooks
  • Customer support available 24/5 from a toll-free phone numbers
Pros
  • Low minimum deposit
  • Tight spreads
  • Well regulated
  • Good range of accounts
Cons
  • Limited base currencies
AlertAccepts Malaysian Clients. Average spread EUR/USD 1.00 pips on trading account with lowest minimum deposit. Max leverage 1000:1. Islamic account available. MT4 & MT5 platforms supported. HF Markets Group regulated by the FSCA, FCA, FSC, CySEC and the DFSA.

OANDA – Most Trusted Forex Broker

Founded in 1997, OANDA is an American multi-service financial company offering Forex data services for institutions and retail CFD trading on the MT4 platform. Regulated by 7 top-tier national regulators – including the FCA, the Monetary Authority of Singapore and the Japanese Financial Services Agency – OANDA is trusted across the world for both its financial analysis and its trading environment, winning the inaugural Best Forex and CFD Broker 2020 from TradingView clients. OANDA’s Standard Account has no minimum deposit and leverage of 200:1.

OANDA FEATURES

  • Three accounts on the MT4 platform, including a zero-commission Islamic account and a Core Account with tight spreads.
  • Standard Account spreads start at 1 pip on the EUR/USD. All three accounts feature hedging, scalping and automated trading.
  • Range of tools for MT4, including free access to Autochartist and the
  • OANDA Connect App: Provides direct access to Dow Jones market analysis and market news sentiment.
Pros
  • Well regulated
  • Tight spreads
  • Low minimum deposit
  • Good for beginners
Cons
  • Limited currency pairs
AlertAccepts Malaysian Clients. Average spread EUR/USD 1 pips on the trading account with lowest minimum deposit. Islamic account available. MT4 platform supported. OANDA is regulated by the FCA, MAS and ASIC.

What is the Foreign Exchange Market?

The foreign exchange market, also known as the forex (or even more simply, the FX market), is the largest financial market in the world. Every day, trillions of dollars of global currencies are traded in what are called “pairs”, i.e. the exchange of one currency for another, such as ringgit for dollars, euros for Japanese yen, etc. These transactions are carried out five days a week, 24 hours a day around the globe and determine the value of every currency on the planet second by second, based on supply and demand. So, if the pound is in demand, its value against, for example, the dollar will rise and vice versa.

Given its scale and breadth, forex trading is easily accessible by individual investors, who can open an account with a few hundred pounds and begin trading immediately. But it is easy to lose money, especially if you are a beginner. Trading successfully requires effort, discipline and a determination to learn as much as you can about the market before you start. You also need to understand the regulations governing the market, the costs of trading and which brokers to use. Most importantly, you should understand the risks and disadvantages before deciding whether forex trading is for you.

Why does the Forex Market Exist?

There are many reasons why people trade currencies. Malaysian companies may need to buy dollars to pay for American imports, or they may need euros to pay for the acquisition of a company based in Europe. Central banks, such as the Bank Negara Malaysia (BNM), can intervene in FX markets, buying and selling currency to manipulate its value for reasons of economic policy. Speculators also drive a very large part of the market, trading with the aim of generating a profit.

Large financial institutions, multinational corporations and hedge funds dominate the forex market, which reached a value of US$6.6 trillion per day in April 2019, according to the latest statistics. That size means it is a hugely liquid market, i.e. it is very easy to buy and sell currencies because there are so many buyers and sellers in the market for most currencies.

What Drives the Forex Market?

The ringgit is a free-floating currency. In other words, the value of the ringgit in the FX markets is determined by supply and demand. This is the case for the currencies of most advanced economies. By contrast, some currencies, such as the Chinese renminbi (RMB), have a fixed exchange rate. The Chinese authorities determine the value of the RMB against the dollar and keep the link until they decide to alter the exchange rate. Clearly, there is no potential for individual traders to profit from trading currencies with a fixed exchange rate.

The value of a floating currency such as the Malaysian ringgit, however, is constantly moving up and down against other currencies. Often these movements are relatively small, so the ringgit may begin the trading day at 4.12 ringgit to the dollar and end a little higher or lower, or even back at its opening level. But dramatic economic or political news can spark much greater volatility. For example, the ringgit fell by around 10% at the start of the Covid pandemic, back in February 2020. Traders, fearing a prolonged period of economic uncertainty, sold the ringgit as quickly as they could.

Economic developments are also a key influence. New data suggesting the Malaysian economy is growing slower than anticipated might spark concerns that BNM could lower interest rates to stimulate growth. Lower interest rates reduce the appeal of holding a currency since you are getting less return on your money. That outlook consequently dampens demand for the rand and its value falls. Similarly, if Malaysia’s economic outlook brightens and traders anticipate BNM will raise interest rates, they will buy the ringgit, increasing its value against other currencies.

That is why FX traders follow economic, financial and political news so closely, looking for any hint of information that could sway the value of currencies. They are hoping to react before other traders spot the development. Or they may take bets on a likely development, believing they have some insight that other traders lack. So, for example, in June 2016 on the day of the Brexit vote in the UK, before the results were announced, the British pound soared in value because many traders were convinced (incorrectly it turned out) that the British public had voted to remain in the EU.

Why is Forex Trading Popular?

Forex trading is the largest and most easily accessible market in the world. The costs involved are relatively low compared with other markets, there are lots of brokers to choose from in Malaysia, and it is relatively easy to understand the ways in which you can trade the market. There are many freely floating currencies and since they can all be traded against each other there are a huge number of currency pairs to trade in. A vast amount of information is available to would-be traders, ranging from how to get started to outlining potentially profitable trading strategies.

You can trade from your living room using a fairly basic computer if you download the appropriate trading software, and it is relatively easy to set up an account with a broker. Unlike other financial markets, you can also exploit the concept of “leverage”, where you make use of borrowed money to increase your potential profits (and your losses). To explain what this means, currency pairs are traded in specific amounts called lots. They tend to be in 100,000 units of a currency, so, for example, if you are trading in the pound sterling against the US dollar, you would buy or sell £100,000 at a time. Since most people don’t have £100,000 available to trade, the broker effectively offers to lend you money. So, they may allow you to trade in a lot of £100,000 by opening an account with £1,000 and lend you the remainder. The initial £1,000 is known as the margin and your leverage, in this case, would amount to 100 to one (100:1).

As we mentioned, as well as increasing potential profits, leverage can dramatically increase risk. There are methods you can use to contain risk, but that is a topic for another article.

The Disadvantages of Forex Trading

Forex trading requires a considerable commitment. It takes time to learn how to trade profitably, and when you start to trade you may have to spend many hours per day on your computer screen following and researching what is happening in the market – and why – in preparation for your trading day. When that day is finished, you will need to analyse what happened and why your trading activities succeeded or failed, so that you can apply the lessons learnt to the next day’s trading. There could be days when you lose money and it is easy to become disheartened. There is certainly no guarantee of success. FX trading can be risky and you can lose money or you may find that it is simply not something you like or have the temperament for. You have to be patient, for example, waiting for opportunities to arise, and the market can experience bouts of extreme volatility that you may find highly stressful.

Is Forex Trading Legal in Malaysia?

Yes, Forex trading is legal in Malaysia and you can trade with any Forex broker in the world.

Overview of Forex Trading in Malaysia

Over the last ten years, mobile phone use in Malaysia has exploded. Almost 80% of Malaysians are now connected to the internet everywhere they go and whenever they want. At the same time, youth unemployment has increased substantially as competition for jobs has increased (it currently takes 8-12 months for new graduates to find a job in Malaysia and youth unemployment is forecast to hit 25% in 2022). Young, educated Malaysians looking for new ways to make money are at the forefront of a boom in Forex trading, made all the easier because:

  • All Forex brokers now have mobile apps that allow traders to deposit and withdraw funds, check market news, and make trades from their phones. 
  • Many brokers in Malaysia have very low deposit requirements, some as low as 1 US dollar. 
  • Most brokers offer low-cost Islamic trading accounts, making trading a more appealing prospect for devout Muslims

Because it is easy to get started Forex trading, the number of Forex scams and bad brokers has also increased as criminals attempt to profit from the boom. Ponzi schemes and so-called “money games” are common. There is evidence that some investors are content to invest in these schemes knowing that they are criminal enterprises, hoping to make a return on their money before the scheme is closed by the scammers. Recent media scrutiny and publicity has led to a more educated and more wary public, but Forex scams are still frequent. Most Forex scams in Malaysia start on social media and are conducted by unlicensed individuals.

As a predominately Muslim country, Islamic finance – and Islamic Forex trading – is common. But there seems to be less interest in Islamic trading accounts than many people would think. Recent research conducted by WikiResearch shows that only 12% of Malaysian traders open Islamic trading accounts and that traders will Islamic accounts generally deposit much less money.

Islamic Accounts (percentage)

Source: WikiResearch

As most Forex trading exists in a legal grey area in Malaysia (more on that below), it can be difficult to deposit and withdraw funds from a trading account. Bank transfers can be risky, as most Malaysian banks will refuse to make a transfer if they realise that one of the parties in the transaction is a Forex broker. Traders tend to rely on digital payment providers such as iPay88 and MOLpay to transfer funds. It is no surprise then that WikiResearch found that the most important factor for Malaysian traders when choosing a broker was fast deposits and withdrawals.

Main concerns

Source: WikiResearch

Between the scams and the poor regulation, the Forex trading environment in Malaysia is not ideal. But it remains very popular and there are a many trustworthy brokers to trade with.

Forex Trading Regulation in Malaysia

Malaysia has two regulatory authorities that oversee Forex trading. These are the Securities Commission Malaysia (SCM) and the Labuan Financial Services Authority (LFSA).

Securities Commission Malaysia

Established in 1993, the Securities Commission Malaysia (SCM) is a subsidiary of Bank Negara Malaysia (BNM – Malaysia’s central bank) and regulates the securities market. SCM issued new guidelines on Contract for Difference (CFDs) in April 2018, which covers brokers offering Forex and other derivative products.

  1. Forex brokers must submit transaction records, financial status, profit and loss reports and other regulatory documents to SCM.
  2. Brokers must conduct due diligence on their customers. They must be aware of a client’s financial status and evaluate their investment experience.
  3. Brokers must ensure that all clients fully understand the risks of trading Forex and other CFDs.
  4. Brokers must highlight the risks of trading leveraged products on their websites.
  5. Brokers must have a minimum paid-up capital of not less than MYR10 million (approximately 2.4 million USD) and a minimum net capital of not less than MYR500,000 (approximately 120,000 USD).
  6. Brokers must be registered in Malaysia, both for tax purposes and corporate governance, and hold a business account at a Malaysian bank.

The introduction of these guidelines has had little effect on the Forex trading environment in Malaysia, and most of the 120+ brokers in the country still operate without a licence from the SCM. As most Forex brokers are unlicenced they must operate outside of the traditional financial system. Banks tend to block or return transfers made to and from Forex brokers and most Malaysians rely on digital payment providers.

The overall financial environment in Malaysia is poorly controlled and brokers and investors in Malaysia pay little attention to the government’s financial regulatory policies.

Labuan Financial Services Authority

The Labuan Financial Services Authority (LFSA) is the regulator of the Labuan International Business and Finance Centre (IBFC). The Labuan IBFC is a free trade zone established by the Malaysian government in 1990 on the island of Labuan. The Labuan Financial Services Authority’s main role is to issue licenses and supervise all licensed institutions in the Labuan

The most important feature of the Labuan IBFC is the licencing of “midshore” businesses, which can then operate both onshore and offshore. There are currently more than 6,500 offshore companies and more than 300 authorised financial institutions registered in Labuan.

The Forex broker license issued by the LFSA is technically an offshore regulatory license. Unusually, the LFSA license is for Straight Through Processing (STP) brokers only. In other words, brokers with an LFSA license are not allowed to be the counterparty of any order. Most Forex brokers are market makers and act as the counterparty to trades, so there have been few Malaysian or international brokers interested in acquiring a licence. The one exception is Tickmill, a British STP broker, who acquired a licence from the LFSA in 2019.

Advantages of Trading with a Regulated Broker

Just because the SCM does not enforce regulations does not mean that Malaysian traders should trade with unregulated brokers. Brokers regulated by ASIC, CySEC, MAS or the FCA are much more secure than brokers with no regulation at all.

ASIC, CySEC, MAS and the FCA all require brokers to keep their operational funds segregated from traders’ funds. Most brokers regulated by these bodies will also offer negative balance protection, so traders never end up owing their broker money. You can also be sure that brokers regulated by these authorities are frequently audited and will not cheat their clients or manipulate market data.

While some brokers regulated by ASIC, CySEC, MAS and the FCA will restrict leverage to 30:1, many have gained licences with offshore regulators in the Virgin Islands, Mauritius or Seychelles that allow them to provide leverage of 500:1 or higher for Malaysian traders.

Forex Scams and Bad Brokers in Malaysia and How to Avoid Them

As part of our work at Forex Malaysia, we ask traders who have been scammed or defrauded by Forex brokers – or people claiming to be Forex “experts” – to let us know about their experience (you can find the details here). 

Forex Scams and Money Games

According to our latest research, we found that Facebook and Instagram were the sources of more than 50% of “money games”. Both social media companies have a poor record of stopping criminals, even after official complaints have been made. We also found that many victims paid the people who scammed them in Bitcoin or other cryptocurrencies and that almost half of the complaints people made were against individual scammers, not brokers.

Both social media and cryptocurrency are great tools for criminals who want to disguise themselves. People can use whatever name they want on social media, and cryptocurrency is almost untraceable. Once someone pays a scammer they met on social media with cryptocurrency, it’s impossible to get their money back. 

Other telltale signs of a Forex scam are promises of guaranteed returns and the use of complex jargon. Forex trading is high-risk speculation and even professional traders cannot guarantee returns. And while there is Forex-specific jargon, trading can be explained in simple terms.

Bad Brokers

Avoiding individual scammers is relatively easy compared to avoiding bad brokers. So what can Malaysian traders do to avoid bad brokers? There are a few telltale signs that a broker is not treating its clients fairly:

  • Unpublished spreads: The spread is the broker’s fee for connecting traders to the Forex market. If a broker doesn’t want to say how much this fee is, it’s probably charging too much.
  • High deposit and withdrawal fees: Deposits should always be free of charge and withdrawals should be low-cost. Be wary of high fees or unexplained charges
  • Delayed withdrawals: Withdrawals should take a few days at the most. If a broker ignores withdrawal requests or delays for more than a week it is cheating its customers.
  • Missing Deposits: Bad brokers will sometimes claim to have not received a deposit after it has been made. Always request proof of payment when depositing. 
  • Unresponsive Customer Service: In many cases, the customer service team at bad brokers will ignore complaints or requests for assistance – especially when dealing with any of the problems listed above. 
  • Paywalled/Limited Demo Accounts: Demo accounts are the best educational tool beginner Forex traders have. Brokers that require new traders to open a live account before they can open a demo account, or close demo accounts after a short time period, are trying to force beginners to start trading before they are ready.

How to Compare Forex Brokers in Malaysia

Though Forex brokers might appear to be similar, they are quite different once you dig a little deeper, and account conditions will vary for Malaysian residents. These are some of the most common questions traders will have when comparing Forex brokers.

Forex Brokers for Beginners:

Forex Broker Fees and Trading Costs: 

Other Trading Options:

Forex Broker Regulation

Forex Broker Customer Support:

Forex Trading Platforms:

Do I Need a Broker to Trade Forex?

Yes, you will need a broker to trade Forex. Connecting traders to the Forex market is an expensive and technically complex business. It’s important to choose a regulated Forex broker with low costs and a history of treating its clients fairly. 

What is an Islamic Trading Account?

In Islam, interest (or Riba) is haram and outlawed. Interest is a common part of normal Forex trading, but many Forex brokers offer special Islamic trading accounts with no interest charged on overnight trading positions. These trading accounts usually have higher fees or commissions to make up for the lost interest charges.

Which is the Best Broker in Malaysia?

The best broker in Malaysia is FXTM. FXTM is regulated by the FCA in the UK and fees are low, with a 50 USD minimum deposit and tight spreads. Islamic trading is available on all accounts and the FXTM website is fully translated into Malay. FXTM clients can trade Forex, commodities, metals, stocks, and indices and have a choice of trading platforms and useful trading tools. Finally, the FXTM Invest copy-trading system is one of the best-designed in the world; it’s relatively cheap, easy for beginners to understand and has a great number of successful traders to copy.

Which is the Best Broker for Beginners?

IG Markets is also the best broker for beginners in Malaysia. IG Markets has some of the lowest fees in the industry, with spreads starting at 0.6 pips on the EUR/USD. IG Markets’ has no required minimum deposit for bank transfers and traders can access 17,000+ CFDs, including Forex, indices, commodities and shares. Beginners will also appreciate IG Markets’ world-class educational and market analysis section.

If you are looking for a reliable broker for beginners, some other good options are:

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Broker
Overall Rating
Beginner Friendly
Regulators
Min. Deposit
Beginner Course
Experienced Course
Islamic Account
Webinars
Printable Ebook
Unlimited Demo
Support Hours
Compare
IG
4.69 /5
Read Review
ExcellentFCA Regulated BrokersASIC BrokersBundesanstalt für FinanzdienstleistungsaufsichtFinancial Markets Authority of New ZealandDubai Financial Services AuthorityCommodity Futures Trading AssociationUSD 0 24/5
Capital.com
4.68 /5
Read Review
ExcellentFCA Regulated BrokersCySEC Regulated BrokersASIC BrokersUSD 20 24/7
HotForex
4.49 /5
Read Review
ExcellentCySEC Regulated BrokersFCA Regulated BrokersFinancial Services Conduct AuthorityDubai Financial Services AuthorityFinancial Services CommissionUSD 5 24/5
AvaTrade
4.48 /5
Read Review
ExcellentASIC BrokersBritish Virgin Islands Financial Services CommissionFinancial Services AgencyCySEC Regulated BrokersCentral Bank of IrelandUSD 100 24/5
Tickmill
4.48 /5
Read Review
ExcellentCySEC Regulated BrokersFCA Regulated BrokersLabuan Financial Services AuthorityFinancial Services Conduct AuthorityThe Seychelles Financial Services AuthorityUSD 100 24/5

Which Broker has the Best Demo Trading Account?

Capital.com is also the best broker for demo trading in Malaysia. Capital.com’s demo account never expires and is available on both MT4 and Capital.com’s own web-based trading platform (also available on iOS and Android). Capital.com’s platform offers in-depth financial analysis with over 75 technical indicators, multiple trading chart types, and extensive drawing tools.  It also allows traders to toggle in and out of up to six tabs while keeping an eye on all charts and instruments. All 4000+ of Capital.com’s CFDs are available through its demo account.

Some other well-regulated brokers with great demo accounts are:

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Broker
Overall Rating
Unlimited Demo
All Regulators
Islamic Account
Beginner Friendly
Beginner Course
Experienced Course
Beginner Videos
Advanced Videos
Webinars
No. of FX Pairs
Compare
IG
4.69 /5
Read Review
ASIC BrokersBundesanstalt für FinanzdienstleistungsaufsichtDubai Financial Services AuthorityCommodity Futures Trading Association Excellent 80
Capital.com
4.68 /5
Read Review
FCA Regulated BrokersCySEC Regulated BrokersASIC Brokers Excellent 137
HotForex
4.49 /5
Read Review
CySEC Regulated BrokersFCA Regulated BrokersDubai Financial Services AuthorityFinancial Services Commission Excellent 53
Markets.com
4.49 /5
Read Review
FCA Regulated BrokersCySEC Regulated BrokersASIC BrokersBritish Virgin Islands Financial Services Commission Excellent 67
Tickmill
4.48 /5
Read Review
CySEC Regulated BrokersFCA Regulated BrokersLabuan Financial Services AuthorityFinancial Services Conduct Authority Excellent 62

Are Forex brokers in Malaysia reliable?

Yes, most Forex brokers in Malaysia are reliable and trustworthy. The most reliable brokers in Malaysia are regulated by the FCA, CySEC or ASIC and have a history of treating Malaysian traders fairly. If you are unsure about the reliability of your Forex broker, you can check our list of brokers to avoid.

How do I Choose a Forex Broker?

When choosing a Forex broker there are three things to consider:

  1. Regulation: Make sure you choose a broker regulated by one of the major regulators like CySEC (Europe), ASIC (Australia) or the FCA (UK). Regulated brokers have better security and will treat their traders fairly
  2. Cost: Look for a broker with a low minimum deposit and low fees. Broker fees will include the spread, commission and deposit and withdrawal fees. 
  3. Education: If you’re a beginner you will want a broker with good educational content. All of the brokers on our Best Brokers for Beginners page have high-quality education for beginners.

How do Forex Brokers Make Money?

Some brokers (called market makers) only make money from the spread – the difference between the buying and selling price of the currency pair. These brokers will be the counterparty to any trade, so they make money when clients lose trades. 

Other brokers (called ECNs) have tight spreads but make money from commissions, which are charged every time a trade is opened or closed. This type of broker makes money whether a client wins or loses.

Which Broker has the Lowest Fees?

Tickmill is the broker with the lowest fees, with the total trading cost on its Pro Account equalling 0.4 pips on the EUR/USD, this includes a 0 pip minimum spread and a round turn commission of 4 USD per 100,000 traded. 

Other brokers with low trading costs are:

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Broker
Overall Rating
Cost of Trading
Regulators
Min. Deposit
Max. Leverage (Forex)
EUR/USD
USD/JPY
GBP/USD
Account Types
Trading Commission
Compare
Hantec Markets
3.69 /5
Read Review
USD 2ASIC BrokersFinancial Services AgencyFCA Regulated BrokersFinancial Services CommissionUSD 100500:10.20 pips0.50 pips0.50 pipsSTPFees Included in Spread
Tickmill
4.48 /5
Read Review
USD 4CySEC Regulated BrokersFCA Regulated BrokersLabuan Financial Services AuthorityFinancial Services Conduct AuthorityUSD 100500:10.10 pips0.10 pips0.30 pipsSTP4 USD / lot
IG
4.69 /5
Read Review
USD 6ASIC BrokersBundesanstalt für FinanzdienstleistungsaufsichtDubai Financial Services AuthorityCommodity Futures Trading AssociationUSD 0200:10.85 pips0.94 pips1.40 pipsMarket MakerFees Included in Spread
Capital.com
4.68 /5
Read Review
USD 6FCA Regulated BrokersCySEC Regulated BrokersASIC BrokersUSD 20100:10.60 pips0.80 pips1.30 pipsMarket MakerFees Included in Spread
ETX Capital
4.07 /5
Read Review
USD 6FCA Regulated BrokersFinancial Services Conduct AuthorityCySEC Regulated BrokersGBP 10030:11.01 pips1.35 pips1.85 pipsMarket MakerFees Included in Spread

Broker fees are split into the trading costs, which is the total of the spread and commission, and non-trading fees such as deposit and withdrawal fees. 

The spread is the difference between the buy and sell price of a Forex pair and is measured in pips, the smaller or “tighter” the spread the less money you spend when you make a trade. Commission is charged by some brokers every time a trade is opened or closed. 

How do I make a Deposit with a Broker?

Making a deposit with a broker is a simple process. Once you have signed up and opened a  live account you will be given a few options. Most brokers in Malaysia will accept local bank transfers, credit cards, online payment solutions like iPay88 and eGHL, and eWallets like Neteller and Skrill. Bank transfers usually take 1-2 days to process and may have a fee attached but all other deposit methods are usually instant and free. 

How do I make a Withdrawal from a Broker?

To make a withdrawal from a broker you must have enough money in your trading account after deducting the margin needed to keep any trades open. Once you know how much you can withdraw, you can make a withdrawal request via your account dashboard. To prevent money laundering, most brokers in Malaysia will only let you withdraw the same amount as your initial deposit back to your credit card or eWallet. Anything more than this will have to be withdrawn to a bank account in your name. 

Which Broker has the Lowest Minimum Deposit?

OANDA is the broker with the lowest minimum deposit in Malaysia and there is no minimum deposit requirement on its Standard Account. Spreads start at 1.0 pips (EUR/USD) on its commission-free, beginner-friendly account, which is average compared to other brokers, but suitable for beginner traders who don’t want to risk large amounts of capital.

Other regulated brokers in Malaysia with low minimum deposits are:

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Broker
Overall Rating
Min. Deposit
Regulators
Regulators
Max. Leverage
Islamic Account
Cost of Trading
EUR/USD
USD/JPY
GBP/USD
Compare
IG
4.69 /5
Read Review
USD 0FCA Regulated BrokersASIC BrokersBundesanstalt für FinanzdienstleistungsaufsichtFinancial Markets Authority of New ZealandDubai Financial Services AuthorityCommodity Futures Trading AssociationASIC BrokersBundesanstalt für FinanzdienstleistungsaufsichtDubai Financial Services AuthorityCommodity Futures Trading Association200:1 USD 60.85 pips0.94 pips1.40 pips
Pepperstone
4.61 /5
Read Review
USD 0FCA Regulated BrokersASIC BrokersCySEC Regulated BrokersDubai Financial Services AuthorityBundesanstalt für FinanzdienstleistungsaufsichtCapital Markets AuthorityASIC BrokersCySEC Regulated BrokersBundesanstalt für FinanzdienstleistungsaufsichtCapital Markets Authority200:1 USD 7.700.17 pips0.26 pips0.10 pips
Axitrader
4.34 /5
Read Review
USD 0FCA Regulated BrokersASIC BrokersFinancial Markets Authority of New ZealandDubai Financial Services AuthorityFCA Regulated BrokersASIC BrokersFinancial Markets Authority of New ZealandDubai Financial Services Authority500:1 USD 100.00 pips0.10 pips0.10 pips
Oanda
4.25 /5
Read Review
USD 0FCA Regulated BrokersASIC BrokersMonetary Authority of SingaporeInvestment Industry Regulatory Organization of CanadaBritish Virgin Islands Financial Services CommissionThe Seychelles Financial Services AuthorityFCA Regulated BrokersASIC BrokersInvestment Industry Regulatory Organization of CanadaBritish Virgin Islands Financial Services Commission200:1 USD 100.10 pips0.10 pips0.10 pips
ThinkMarkets
4.18 /5
Read Review
USD 0Financial Services Conduct AuthorityFCA Regulated BrokersASIC BrokersThe Seychelles Financial Services AuthorityCySEC Regulated BrokersFinancial Services AgencyFCA Regulated BrokersASIC BrokersCySEC Regulated BrokersFinancial Services Agency500:1 USD 120.00 pips0.00 pips0.00 pips

With most brokers, larger deposits usually unlock lower trading costs and other perks. What level of minimum deposit you are comfortable with depends on your financial situation.  

How do I Calculate Trading Costs? 

When trading Forex, the total trading cost is the spread on the currency pair you are trading plus any commission your broker may charge. If you keep a trade open overnight you will also be charged a rollover (or “swap”) fee, which will be deducted automatically from your account. Major pairs, such as the EUR/USD or USD/JPY have tighter spreads and are cheaper to trade.

Which Broker has the Highest Leverage?

FBS offers the highest leverage of any Forex broker in Malaysia. On three of their five accounts, leverage of 1:3000 is available. Other brokers in Malaysia with high levels are leverage are:

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Broker
Overall Rating
Max. Leverage
Min. Deposit
Regulators
Islamic Account
Cost of Trading
EUR/USD
USD/JPY
GBP/USD
Compare
FBS
4.23 /5
Read Review
3000:1USD 1CySEC Regulated BrokersASIC BrokersFinancial Services Conduct AuthorityInternational Financial Services Commission USD 70.70 pips1.30 pips1.20 pips
FXTM
4.33 /5
Read Review
2000:1USD 10CySEC Regulated BrokersFCA Regulated BrokersFinancial Services Commission USD 150.00 pips0.00 pips0.20 pips
HotForex
4.49 /5
Read Review
1000:1USD 5CySEC Regulated BrokersFCA Regulated BrokersFinancial Services Conduct AuthorityDubai Financial Services AuthorityFinancial Services Commission USD 100.10 pips0.30 pips0.50 pips
Admirals
4.34 /5
Read Review
500:1USD 25ASIC BrokersCySEC Regulated BrokersFCA Regulated BrokersFinancial Services Conduct Authority USD 80.80 pips0.30 pips0.60 pips
GKFX Prime
4.13 /5
Read Review
1000:1USD 50Malta Financial Services AuthorityBritish Virgin Islands Financial Services CommissionSecurities and Exchange Regulator of Cambodia USD 180.90 pips1.70 pips1.30 pips

Leverage is money borrowed from your Forex broker to increase the size of a Forex trade. Leverage is essential in Forex trading because the movements of the market are too small to make a decent profit unless you place thousands of dollars on each trade. Leverage can be used to make large profits with a little of your own money, but you can also quickly lose more than your original investment.

Which Broker Has the Most CFDs?

MultiBank is the broker with the most CFDs to trade. Regulated by 10 different authorities, MultiBank offers trading on over 20,000 instruments, including Forex, indices, share CFDs, commodities and cryptocurrencies. Multibank’s Standard Account has a minimum deposit of 50 USD and Islamic accounts are available for all Malaysian traders.  

Other brokers with a wide range of instruments to trade are:

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Broker
Overall Rating
Total # CFDs
# FX Pairs
Regulators
Min. Deposit
Max. Leverage
Islamic Account
Cost of Trading
Trading Commission
Compare
MultiBank
3.93 /5
Read Review
2009341Financial Services CommissionASIC BrokersUSD 50500:1 USD 143 USD / lot
IG
4.69 /5
Read Review
1929580ASIC BrokersBundesanstalt für FinanzdienstleistungsaufsichtDubai Financial Services AuthorityCommodity Futures Trading AssociationUSD 0200:1 USD 6Fees Included in Spread
FP Markets
4.28 /5
Read Review
1009960ASIC BrokersCySEC Regulated BrokersAUD 100500:1 USD 76 USD / lot - RAW Accounts
Fibo Group
3.50 /5
Read Review
807948CySEC Regulated BrokersBundesanstalt für FinanzdienstleistungsaufsichtBritish Virgin Islands Financial Services CommissionFinancial Services CommissionUSD 01000:1 USD 66 USD / lot
ETX Capital
4.07 /5
Read Review
513562FCA Regulated BrokersFinancial Services Conduct AuthorityCySEC Regulated BrokersGBP 10030:1 USD 6Fees Included in Spread

Which Broker has the Most Currency Pairs?

Capital.com is the Broker with the most currency pairs, with 137 currency crosses to trade. One of our highest rated brokers, Capital.com is one of the lowest-cost brokers in the world and also has a large portfolio of cryptocurrency CFDs to trade. 

Other Forex brokers with a larger than usual selection of currency pairs to trade are:

Scroll for more detailsPreviousNext
Broker
Overall Rating
Forex Pairs
Crypto Pairs
Regulators
Min. Deposit
Max. Leverage (Forex)
Islamic Account
Cost of Trading
EUR/USD
USD/JPY
GBP/USD
Compare
Capital.com
4.68 /5
Read Review
137477FCA Regulated BrokersCySEC Regulated BrokersASIC BrokersUSD 20100:1 USD 60.60 pips0.80 pips1.30 pips
Swissquote
3.70 /5
Read Review
13012FCA Regulated BrokersBundesanstalt für FinanzdienstleistungsaufsichtFinansinspektionenUSD 1000100:1 USD 171.70 pips1.60 pips2.00 pips
InstaForex
3.02 /5
Read Review
11012CySEC Regulated BrokersBritish Virgin Islands Financial Services CommissionUSD 1501000:1 USD 303.00 pips3.00 pips3.00 pips
easyMarkets
3.98 /5
Read Review
10317CySEC Regulated BrokersASIC BrokersThe Seychelles Financial Services AuthorityUSD 25400:1 USD 180.70 pips1.00 pips1.30 pips
IronFX
3.74 /5
Read Review
835CySEC Regulated BrokersFCA Regulated BrokersASIC BrokersFinancial Services Conduct AuthorityUSD 501000:1 USD 220.00 pips0.00 pips0.00 pips

Which Broker is the Best for Professional Traders?

Pepperstone is the best broker for professional traders. An ECN broker with extensive liquidity streams, Pepperstone supports all three major trading platforms (MT4, MT5 and cTrader) and has some of the tightest spreads in the industry (0.09 pips EUR/USD spread on its Razor Account). 

Commissions are low and there are no minimum deposit requirements. Commissions can be further reduced by becoming a member of Pepperstone’s Active Trader Program. The Active Trader Program has a number of other advantages for high-volume traders, including a free VPS service and priority customer support.

What are Managed Forex Accounts?

Some brokers will operate a managed account for you, but this is rare. There are independent money managers who can manage your account while they are trading for themselves. It is vital that you understand the minimum deposit requirements and additional risks involved when trading CFDs.

If you have any questions after reading through this guide, please get in touch with us in the comments at the bottom of the page.

How do I Know if a Forex Broker is Regulated?

All regulated brokers are required to display their licence number and the authority they received it from on their website. These licence numbers can be easily verified on the regulatory authority’s website. Some scam brokers will use similar names to legitimate businesses, so make sure the name of the licence holder on the regulator’s website matches the broker’s details.

How Can I Report Scam brokers?

If you believe you have been scammed by your broker, the first thing to do is warn others and tell your story. You can contact the Security Commission’s complaints department here and ask them to investigate. We also have a report a scam broker form which we use to gather information so that we get the word out.  If you have been scammed, please complete the form.

Which Broker has the Best Customer Support in Malaysia?

FP Markets is the broker with the best customer service. FP Markets’ customer support team has won 22 awards since the company was founded in Australia in 2005. Available 24/7 (0800 – 1600 on weekends) via live chat, email, telephone and call-back service in over 12 languages, FP Markets’ customer support is knowledgable, responsive and can assist traders with all aspects of CFD trading, from setting up accounts to navigating its platforms, plus any other technical queries.

Which Forex Broker has the Best Platform?

The markets.com Marketsx trading platform is the best broker-owned platform in the world. With Islamic trading accounts for Malaysian traders, the Marketsx platform provides trading on over 2,200 financial instruments. The platform also features advanced charting, making it easier to spot trends and identify new trading opportunities. Marketsx also allows traders to use five types of indicators once, overlay multiple assets, or compare up to eight instruments side-by-side. Marketsx is available on mobile devices and via the markets.com website. 

Which is the Best Platform for Forex?

Currently, MetaTrader 4 (MT4) is the best platform for trading Forex. MT4 has been around since 2005 but is supported by most Forex brokers and used by millions of traders around the world. MT4 is resource-efficient, fast, and can run on older hardware without any issue. It’s also fully customisable and can handle multiple trading accounts from different brokers with a single installation.

MT4 is particularly valued for its automated trading facilities. Traders can create or buy algorithmic trading robots and install them on their version of MT4 to automate trading or assist in decision making. It’s also possible to copy other traders through the MT4 trading signals facility. 

Forex Risk Disclaimer

Trading Forex and CFDs is not suitable for all investors as it carries a high degree of risk to your capital: 75-90% of retail investors lose money trading these products. 

Forex and CFD transactions involve high risk due to the following factors: Over-leveraging, unpredictable market volatility, slippage arising from a lack of liquidity, inadequate trading knowledge or experience, and a lack of regulatory protection for clients.

Traders should not deposit any money that is not disposable. Regardless of how much research you have done, or how confident you are in your trade, there is always a substantial risk of loss. (Learn more from the FCA or from ASIC)

Our Methodology

Our State of the Market Report and Broker Directory are the result of extensive research on over 100 Forex brokers. The explicit goal of these resources is to help traders find the best Malaysian Forex brokers – and steer them away from the worst ones – with the benefit of accurate and up-to-date information.

With over 150 data points on each broker and over 3000 hours of research and review writing, we believe we have succeeded in our goal. 

In a world where trading conditions and customer support can vary based on where you live, our broker reviews focus on the local trader and give you information about these brokers from a Malaysian perspective.

All research has been conducted by our in-house team of researchers and writers, gathering information from various company representatives, websites and by sifting through the fine print. Learn more about how we rank brokers

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Featured Brokers

Trading Forex and CFDs is not suitable for all investors and comes with a high risk of losing money rapidly due to leverage. 75-90% of retail investors lose money trading these products. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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