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Forex trading apps give Forex traders a way to research, open and close trades from a mobile device. While some aspects of mobile trading like screen size and limited functionality can be cumbersome, the most important trading features are available in mobile applications. Forex trading apps are always free, but each will offer different features and functionality. Most traders who use a mobile device for trading will do so when travelling or away from a desktop trading application. 

To test these mobile apps, we downloaded and installed them on Android and IOS devices and connected our live trading accounts. While trading on the mobile apps, we tested the platform stability, execution speed, and functionalities to understand the experience a trader should expect when using the app. According to our testing and our research, these are the best Forex trading apps in Malaysia for 2021.

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Best Forex Trading Apps 2021

Last updated on 21 Sep 2021
Updated 21 Sep 2021
by Editorial Director Chris Cammackby Chris Cammack
Chris Cammack
All Brokers Regulated
All Brokers Regulated
by Trusted Authoritiesby Trusted Authorities
Trusted
1
FXTM
Min. Deposit
USD 10
4.334.33
Min. Spread
0 pips
iOS App
Android App
REGULATED BY
Overall Rating
11110.54.33/ 5
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.
2
OctaFX
Min. Deposit
USD 50
4.024.02
Min. Spread
0 pips
iOS App
Android App
REGULATED BY
Overall Rating
11110.54.02/ 5
AlertAccepts Malaysian Clients. Average spread EUR/USD 1.10 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.
3
Tickmill
Min. Deposit
USD 100
4.484.48
Min. Spread
0 pips
iOS App
Android App
REGULATED BY
Overall Rating
11110.54.48/ 5
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 platform support. Tickmill is regulated by CySEC, FCA, FSCA, and the FSA-Seychelles.
4
BDSwiss
Min. Deposit
USD 100
4.324.32
Min. Spread
1.40 pips
iOS App
Android App
REGULATED BY
Overall Rating
11110.54.32/ 5
AlertAccepts Malaysian Clients. Average spread EUR/USD 1.50 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 platforms supported. BDSwiss is regulated by CySEC, FSC, and the FSA-Seychelles.
5
AvaTrade
Min. Deposit
USD 100
4.484.48
Min. Spread
0.90 pips
iOS App
Android App
REGULATED BY
Overall Rating
11110.54.48/ 5
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.
6
XM
Min. Deposit
USD 5
4.254.25
Min. Spread
0.60 pips
iOS App
Android App
REGULATED BY
Overall Rating
11110.54.25/ 5
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.
7
IC Markets
Min. Deposit
USD 200
4.464.46
Min. Spread
0.10 pips
iOS App
Android App
REGULATED BY
Overall Rating
11110.54.46/ 5
AlertAccepts Malaysian Clients. Average spread EUR/USD 0.10 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4, MT5 & cTrader platforms supported. IC Markets is regulated by CySEC and ASIC.
8
HotForex
Min. Deposit
USD 5
4.494.49
Min. Spread
0 pips
iOS App
Android App
REGULATED BY
Overall Rating
11110.54.49/ 5
AlertAccepts Malaysian Clients. Average spread EUR/USD 1 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.
9
Eightcap
Min. Deposit
USD 100
4.074.07
Min. Spread
0 pips
iOS App
Android App
REGULATED BY
Overall Rating
11110.54.07/ 5
AlertAccepts Malaysian Clients. Average spread EUR/USD 0.00 pips with 7 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 platforms supported. Eightcap Markets is regulated by ASIC & the VFSC.
10
Pepperstone
Min. Deposit
USD 5
4.614.61
Min. Spread
0.01 pips
iOS App
Android App
REGULATED BY
Overall Rating
11110.54.61/ 5
AlertAccepts Malaysian Clients. Average spread EUR/USD 0.69 pips with 0.0 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4, MT5 & cTrader platforms supported. Pepperstone is regulated by the FCA, ASIC, and CySEC.

How to Choose a Forex Trading App

Forex trading apps are all different, but the best apps will have fast trade execution speeds, comprehensive functionality in terms of order management and charting, platform stability and the full range of assets to trade.

Fast Execution Speed: Fast execution speed is an essential feature of the best Forex apps. While execution speed still partially depends on the mobile device’s connection to the internet, the app itself mustn’t suffer any loss in execution speed when compared to the desktop version of the platform. While attempting to execute scalping or automated high-frequency trading strategies on your mobile device is not recommended due to the possibility of connection loss, it’s important that it is still possible when on a stable WiFi connection or similar.

Full Functionality: Trading apps should match their desktop versions’ functionality and feel familiar to the desktop platform users. While charts on a mobile device will be less customizable than on a desktop, there should be some of the more popular custom indicators and common timeframes functions found on the desktop version. Order management is also an important aspect, some apps will only allow a few basic buy/sell orders but better apps will allow advanced orders such as trailing stops, good til orders and guaranteed stop losses.

Platform Stability: A stable iOS or Android trading app is an absolute necessity. Should your app crash while trades are open, you risk losing capital should the markets are move against your position. Platform stability is an absolute necessity and should never be compromised. While most apps are stable these days, it is worth reading through the reviews of other users on the Apple Store or Google Play to see how common stability issues are and to check whether your mobile device is powerful enough to operate the app in a stable fashion.


  • FXTM - Best Forex Trading App
  • OctaFX - Best Copy Trading App
  • Tickmill - Mobile App with the Lowest Trading Costs
  • BDSwiss - Best App for Trading Crypto
  • AvaTrade - Most User-Friendly Forex Trading App
  • XM - Fastest Execution Speed
  • IC Markets - Best cTrader Mobile Experience
  • HotForex - Best App for Forex Analysis
  • Eightcap - Best Mobile MT5 Experience
  • Pepperstone - Best Trading Platforms

FXTM – Best Forex Trading App

Through the FXTM trader app, you gain access to FXTM’s complete range of CFDs, including Forex, spot metals, 180 company shares, commodities, indices and cryptocurrencies. FXTM Trader can open and close positions in seconds, fetch live currency rates, manage trading accounts, and supervise their automated FXTM Invest account. 

Fully integrated into iOS and Android apps, FXTM Invest is FXTM’s leading copy trading system which enables automated trading. FXTM Invest is an innovative copy-trading program that allows investors to follow suitable strategies and receive a portion of the profits. Strategy Managers can earn extra by generating profits for their investors and receive a cut of the profit. 

Pros
  • Good for beginners
  • Excellent education
  • Well regulated
  • Low minimum deposit
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 Copy Trading App

OctaFX is a well-regulated broker with support for all three major platforms (MT4, MT5 and cTrader) across all mobile devices and is known for its range of bonus options. Aside from supporting the major platform’s trading apps, OctaFx also provides its own easy-to-use OctaFX Copytrading App for iOS and Android devices.

The OctaFX Copytrading app allows clients to choose from a list of Master Traders to compare their gain, number of followers, and commission amount and start copying their trades automatically. The app provides detailed statistics on trading performance: profit amounts, floating profit, equity, percentage gain, and a breakdown of investment success with every Master Trader. Importantly, users can also stop copying trades manually at any time. The app also has a range of bonuses and promotions, such as a 50% first deposit booster and prize draws.

 

Pros
  • Great platform choice
  • Fast and free withdrawals
  • Copy trading accounts
Cons
  • Limited education
  • Restrictive account types
AlertAccepts Malaysian Clients. Average spread EUR/USD 1.10 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 – Mobile App with the Lowest Trading Costs

Founded in 2014 and offering both MT4 and MT5 across all mobile devices, Tickmill has a history of being a responsible broker with a focus on both experienced traders and serious beginners. While trading costs on its commission-free Classic Account are higher than the industry average, the Pro Account features dynamic spreads down to 0 pips and a 4 USD (round turn) commission – much lower most other brokers. New traders looking to trade on a mobile device will be happy with the low 100 USD minimum deposit on both accounts, but should be aware that there is some loss in functionality when compared to the desktop trading platforms, including reduced time frames and fewer charting options.

For experienced traders looking to switch brokers, Tickmill’s VIP Account has even lower trading costs, with commission down to 2 USD round turn – though this account is only available to traders with a minimum balance of 50,000 USD. Tickmill also offers an excellent range of MT4 trading tools, such as AutoChartist, Myfxbook and a subsidised VPS service.

Pros
  • Tight spreads
  • Well regulated
  • Fast and free withdrawals
  • Wide range of assets
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 platform support. Tickmill is regulated by CySEC, FCA, FSCA, and the FSA-Seychelles.

BDSwiss – Best App for Trading Crypto

BDSwiss offers a comprehensive mobile trading environment from their iOS and Android apps. Winner of the Best Trading App at the 2019 Mobile Star Awards, the BDSwiss app allows access to 1000+ instruments and fully synchronises with the BDSwiss WebTrader and BDSwiss MT4 Platform. The app also gives traders 24/7 access to BDSwiss’ wide range of crypto assets, including Bitcoin, Dash and Ethereum pairs.

The BDSwiss Mobile App enables traders to open positions on every CFD asset available on the desktop MT4 platform, monitor market activity, access the account dashboard, and free deposits and withdrawals via 150+ methods. BDSwiss also leads the field for market analysis and education, which are also available within the app. 

Pros
  • Tight spreads
  • Good for beginners
  • Wide range of assets
Cons
  • Expensive withdrawals
AlertAccepts Malaysian Clients. Average spread EUR/USD 1.50 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 platforms supported. BDSwiss is regulated by CySEC, FSC, and the FSA-Seychelles.

AvaTrade – Most User-Friendly Forex Trading App

AvaTrade has the best bespoke Forex trading app. Its flagship mobile app is called AvaTradeGo and was voted the Best Forex Trading App in 2020 at the Global Forex Awards. AvaTradeGo provides a stable trading experience with an advanced dashboard, with intuitive management tools, clear charts, zoom for details, and a Market Trends feature to monitor trading trends within the AvaTrade community.

AvaTrade’s newest tool, AvaProtect, is available on AvaTradeGo. AvaProtect allows traders to purchase loss-protection, which acts as trade insurance for a time. Any losses during that time are fully refunded, but any gains 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 – Fastest Execution Speed

XM is a well-regulated broker supporting MT4 and MT5 native XM apps with three account types: A Micro Account, Standard Account and a commission-based XM Zero Account with super-tight spreads. Each account offers tight spreads, with the EUR/USD starting at 1.6 pips on the Micro and Standard Account. The XM Zero Account has spreads down to 0.1 pips with a commission of 7 USD round trip. For beginners, education and research are some of the best globally.

Well-known for its execution speed, over 99% of trades are executed in less than a second with a 100% execution rate and no re-requotes or rejections of orders.

Pros
  • Well regulated
  • Excellent education
  • Wide range of assets
  • Fast and free withdrawals
Cons
  • Dealing desk
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.

IC Markets – Best cTrader Mobile Experience

IC Markets is an Australian ECN broker with two Raw Spread Accounts and a Standard Account, all with variable spreads, on the MT4, MT5 and cTrader platforms. Mobile apps are supported for all trading platforms, but for traders interested in the best mobile cTrader experience, IC Market’s cTrader Raw Spread account is industry-leading and available on the IC Markets cTrader app for iOS and Android.

The cTrader Raw Spread Account features a smaller commission than the normal Raw Account (3 USD per lot vs 3.50 USD per lot), and spreads are often down to 0 pips, averaging 0.1 pips on the EUR/USD pair. The cTrader app provides the same access to tight spreads, deep liquidity and reliable 24/7 customer service that IC Market is known for, it also features single-tap execution and a split-screen interface for tablets.

Pros
  • Well regulated
  • Tight spreads
  • Wide range of assets
  • Great platform choice
Cons
  • High minimum deposit
  • Limited market analysis
AlertAccepts Malaysian Clients. Average spread EUR/USD 0.10 pips on trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4, MT5 & cTrader platforms supported. IC Markets is regulated by CySEC and ASIC.

HotForex – Best App for Forex Analysis

HotForex’ HF App gives traders access to the financial markets and your HotForex account all from the palm of your hand. New features include in-app fund transfers, advanced charting, and access to HFcopy and PAMM accounts.

The HF App features several useful analytical tools. Included are HotForex’ excellent Daily Market Analysis from the broker’s experts, Trading Positions – a market sentiment tool – and Trader’s Board, a detailed look at the world’s markets, including volume indicators and live charts. Additional features are trading calculators, an economic calendar, and information on upcoming live webinars with reservation functionality.

The HF app is also a dedicated section for PAMM Managers and Investors using the HFcopy account. Clients can monitor the status of investments, allocate funds accordingly and manage their portfolios efficiently. HFcopy allows clients to interact with more experienced traders and copy their trading strategies.

Pros
  • Low minimum deposit
  • Tight spreads
  • Well regulated
  • Good range of accounts
Cons
  • Limited base currencies
AlertAccepts Malaysian Clients. Average spread EUR/USD 1 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.

Eightcap – Best Mobile MT5 Experience

Eightcap is an ASIC-regulated, no-intervention market maker with variable spreads and MT5 support for web and mobile devices. In addition to Forex, the mobile MT5 trading account offers trading on a selection of indices, commodities, and US and Australian shares. Share trading is available exclusively on the MT5 platform – across mobile, web and desktop – and includes 250 of the largest US and Australian stocks. Alongside big US tech companies like Tesla, Apple, and Google the shares of Australian majors like BHP Group and Commonwealth Bank are also available.

Eightcap offers two simple trading accounts for MT5 – one commission-free Standard Account and a Raw Account with very tight spreads and a commission of 3.5 USD per lot. EAs, scalping, and hedging allowed on both accounts. Eightcap’s MT5 app offers 30 of the most popular technical indicators among traders, 24 analytical objects: lines, channels, geometric shapes, as well as Gann, Fibonacci and Elliott tools, and 9 timeframes.

Pros
  • Great platform choice
  • Excellent education
Cons
  • Limited demo account
  • No swap-free account option
  • Extreme leverage
AlertAccepts Malaysian Clients. Average spread EUR/USD 0.00 pips with 7 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 platforms supported. Eightcap Markets is regulated by ASIC & the VFSC.

Pepperstone – Best Trading Platforms

Pepperstone is an Australian ECN broker known for tight spreads, ultra-fast trade execution, full support for all major platforms; MT4, MT5 and cTrader – and downloadable apps for iOS and Android for all three. The mobile versions of all platforms are freely available and natively designed for Android and iOS on tablets and mobile phones.

Most trades on Pepperstone have execution in less than 30ms, which is ideal for scalpers and clients who run expert advisors. Pepperstone offers two market execution accounts with some of the tightest spreads in the industry – the Razor Account has spreads down to 0 pips for the EUR/USD and a 7 USD commission. Spreads on the mobile applications are identical to their desktop counterparts. 

Pros
  • Well regulated
  • Tight spreads
  • Great platform choice
  • Wide range of assets
Cons
    AlertAccepts Malaysian Clients. Average spread EUR/USD 0.69 pips with 0.0 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4, MT5 & cTrader platforms supported. Pepperstone is regulated by the FCA, ASIC, and CySEC.

    What is the best Forex trading App?

    AvaTrade’s  flagship mobile app is called AvaTradeGo and was voted the Best Forex Trading App in 2020 at the Global Forex Awards. AvaTradeGo provides a smooth trading experience with a sophisticated dashboard, complete with a set of intuitive management tools, clear charts, zoom for details, and many more helpful features unique to this app.

    What are the advantages of Forex Trading Apps?

    Better trading apps enhance the convenience of mobility and quick response time they provide for traders.

    Convenience

    Before smartphone trading apps, Forex traders had to close all their positions when they left their desk and accessing Forex news and data was difficult. With a trading app, you can keep trading when you leave your desk

    But now all aspects of Forex trading can be achieved via a trading app. Most apps will allow you to open and close positions, use advanced charting to analyse the market and keep abreast of breaking news and economic data that affect the markets.

    Mobility

    Forex trading apps are convenient, and let traders can monitor open positions when away from their desk. Whether you are commuting to work on a train, or walking down the street to go shopping, you can keep track of your positions and the market movements.

    mobile-trading-3

    Response Time

    Trading apps also allow you to respond to market movements in an instant. Rather than having to wait until you are at your PC to take advantage of price movements, you can open or close an order immediately with the tap of your screen.

    What are the disadvantages of Forex Trading Apps?

    Small screens, distractions while you are on the move, slow execution speed and the potential for overtrading are all disadvantages of mobile trading that you should be aware of.

    Screen size

    Professional traders use two monitors with multiple charts and often hold numerous open trades. You cannot do this on a small mobile screen without the risk of missing important details. Mobile traders should try to limit the number of open trades and be aware of the charting limitations on their trading app

    Distractions 

    Mobile devices are designed to be with you when you are doing other things, but trading while you are doing other tasks is not encouraged.

    If you are trading on a mobile device, make sure that you have taken the time and space to judge your trading decisions before following through.

    Man on phone on street

    Execution Speed

    While execution speeds on mobile trading apps are generally good, you should not use them for scalping. Mobile networks are getting faster all the time, but there will always be a delay relative to a desktop trading environment.

    Overtrading

    Often, the best move when trading is to do nothing – especially when you are on the move and without access to the tools and charts you have at your desk. With the convenience of a mobile trading app, there is the danger that you will be tempted to trade too often, and in ways that you would not normally do when at your desk.

    Final Word

    Forex trading apps are a useful addition to a trader’s toolbox but should never be used as a replacement for a desktop platform. While their convenience is undeniable, there is just too much space for distraction and overtrading while on a mobile device.

    The best Forex trading apps can achieve some of the aspects of the best trading platforms but will never be able to match a desktop platform for analysis and execution speed.

    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

    The best Forex trading apps can achieve some of the aspects of the best trading platforms but will never be able to match a desktop platform

    References

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    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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