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Last Updated On July 12, 2023
Having a reliable Forex trading app is important for all Forex traders. Whether you’re a beginner or a professional, being able to check market data and adjust trades on your phone is an essential part of your trading day.
These are the best Forex trading apps of 2023 designed for Malaysian traders of all levels. With this comprehensive list, you’ll gain a better understanding of the top Forex apps and their features, helping you find the right one to your fit your trading style. From risk-managements tools to advanced analysis, you will find everything you need from these apps for Forex trading on the go.
These are the best Forex trading apps in Malaysia for 2023.
- FXTM - Best Forex Trading App
- OctaFX - Best Copy Trading App
- Tickmill - Mobile App with the Lowest Trading Costs
- Skilling - Best Trading App for Beginners
- AvaTrade - Most User-Friendly Forex Trading App
- XM - Fastest Execution Speed
- IC Markets - Best cTrader Mobile Experience
- HFM - Best App for Forex Analysis
- Pepperstone - Best Trading Platforms
- markets.com - 900+ Instruments to trade
Best Forex Trading Apps 2023
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Broker | Overall Rating | Official Site | Min. Deposit | Regulation | Mobile App | Apple Score | Google Score | Analytical Tools | Forex Calendar | Forex Analysis News Feed | Watch List | Alerts | Cross Device Syncing | Charting - Draw Trendlines | Charting - Drawings Autosave | Charting - Indicators / Studies | Charting - Multiple Time Frames | Charting - Trendlines Moveable | Compare |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
 | 4.27 /5 Read Review | Visit Site > 81% of retail CFD accounts lose money | USD 10 |   | FXTM Trader |  | | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | |
 | 4.27 /5 Read Review | Visit Site > of retail CFD accounts lose money | USD 25 | | MT5 App | | | Yes | Yes | Yes | Yes | Yes | No | Yes | Yes | Yes | Yes | Yes | |
 | 4.48 /5 Read Review | Visit Site > 72% of retail CFD accounts lose money | USD 100 | | MT5 App | | | Yes | Yes | Yes | No | Yes | Yes | Yes | Yes | Yes | Yes | Yes | |
 | 4.07 /5 Read Review | Visit Site > 69% of retail CFD accounts lose money | EUR 100 | | Skilling Trading App | | | Yes | Yes | Yes | Yes | Yes | No | Yes | Yes | Yes | Yes | Yes | |
 | 4.49 /5 Read Review | Visit Site > 76% of retail CFD accounts lose money | USD 100 | | AvatradeGo | | | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | No | |
 | 4.35 /5 Read Review | Visit Site > 75.33% of retail CFD accounts lose money | USD 5 | | XM App | | | Yes | Yes | Yes | No | Yes | Yes | Yes | Yes | Yes | Yes | Yes | |
 | 4.36 /5 Read Review | Visit Site > 77% of retail CFD accounts lose money | USD 200 | | MT5 App | | | No | Yes | Yes | No | No | No | No | No | No | No | No | |
 | 4.43 /5 Read Review | Visit Site > 72.90% of retail CFD accounts lose money | USD 0 | | HF App | | | Yes | Yes | Yes | Yes | Yes | No | Yes | Yes | Yes | Yes | No | |
 | 4.61 /5 Read Review | Visit Site > 75.8% of retail CFD accounts lose money | USD 0 | | MT5 App | | | Yes | Yes | Yes | Yes | Yes | No | Yes | Yes | No | Yes | Yes | |
 | 4.58 /5 Read Review | Visit Site > 70.3% of retail CFD accounts lose money | USD 100 | | Markets.com | | | Yes | No | No | No | Yes | No | Yes | Yes | Yes | Yes | No |
What is a Forex trading app?
A Forex trading app is an application you can download to your phone or tablet that allows you to trade Forex and other financial instruments. Forex trading apps are usually offered free by Forex brokers. Some apps are proprietary, which means they are developed in-house by a broker. But many popular apps are developed by third-party companies. Proprietary Forex trading apps are usually easier to set up and use by beginners.
Forex trading apps will let you open a demo or trading account with the broker, buy and sell instruments, deposit and withdraw funds from your broker, provide real-time market data, display news and analysis, and provide price alerts and other tools to manage your risk.
What is the difference between a Forex trading app and a Forex trading platform?
Forex trading apps are available on mobile devices, while Forex trading platforms run on desktop computers. Otherwise, they perform the same function. Both allow you to trade on financial markets and will connect to your broker’s trading system. Desktop trading platforms tend to have more features and tools than trading apps and are favoured by experienced traders who require more in-depth technical analysis and advanced order types.
Best Forex Trading App Reviews 2023
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’s stability and execution speed. We also compared their fees and checked how easy it was to deposit and withdraw money from our trading account. We only work with well-regulated brokers with a good reputation for treating their clients fairly. Want to know more about our in-depth review process? Click here to find out.
These are the best Forex Trading Apps in Malaysia for 2023, as determined by our comprehensive review process.
FXTM – Best Forex Trading App
4.27Through 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.
Accepts 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.
Accepts Malaysian Clients. Average spread EUR/USD 0.60 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.
Accepts 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, DFSA, and the FSA-Seychelles.Skilling – Best Trading App for Beginners
Available on both Android and iOS devices, the Skilling Trader app is well-designed. Beginners will find that it is easy to use and includes a Trading Assistant that walks you through the app. The app allows traders to easily transfer, withdraw, deposit funds, search for instruments, and create watchlists. It also has various technical indicators and charts in multiple time frames. We also enjoyed how easy it was to execute orders, and all of Skilling’s educational materials and market news are available on the app.
SKILLING TRADER FEATURES
- Spreads starting at 0.8 pips with no commission
- 100 EUR minimum deposit, Maximum leverage of 500:1
- One Account. Two Platforms: Seamless integration between Skilling Trader and cTrader,
- The choice of two platforms from a single trading account with the same margin, same wallet, and same trading conditions.
Accepts Malaysian Clients. Average spread EUR/USD 0.80 pips on the trading account with lowest minimum deposit. Max leverage 500:1. MT4, Skilling, and cTrader platforms supported. Skilling is regulated by CySEC, the FCA, 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.
Accepts 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.
Accepts Malaysian Clients. Average spread EUR/USD 0.70 pips on trading account with lowest minimum deposit. Max leverage 1000:1. Islamic account available. MT4 & MT5 platforms supported. XM Group regulated by CySEC, ASIC, and the Belize FSC.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.
Accepts 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.HFM (HotForex) – Best App for Forex Analysis
HFM’s HF App gives traders access to the financial markets and your HFM account from the palm of your hand. New features include in-app fund transfers, advanced charting, and access to the HFcopy account.
The HF App features several useful analytical tools. Included are HFM’s 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.
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.
Accepts 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.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.
Accepts Malaysian Clients. Average spread EUR/USD 0.60 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.Markets.com – 900+ Instruments to trade
Markets.com’s mobile trading app offers fast, low-cost trading on over 1500 financial instruments. The app provides a smooth and stable trading experience on stocks, Forex, commodities, indices, cryptocurrencies, ETFs, and bonds.
FEATURES
- Low trading costs, with spreads starting at 0.8 pips on the EUR/USD and no commission.
- Over 700 global shares, 60+ currency pairs, 30 global indices, 22 commodities (including everything from gold to wheat, cotton, and heating oil), 77 ETFs, 25 cryptocurrencies, and 4 government bonds.
- Responsive news and analysis section, to access statistics and execute orders alongside the charts
- Clear and responsive information including expert commentary and dynamic market data
Accepts Malaysian Clients. Average spread EUR/USD 0.70 pips on trading account with lowest minimum deposit. Max leverage 300:1. Islamic account available. MT4 & MT5 platforms supported. MarketsX is regulated by the FCA, CySEC, ASIC, and the BVI FSC.How to Choose a Forex Trading App
With the right Forex trading app, you can stay up to date with the latest market news, access charts, conduct technical analysis, and carry out trades all from the convenience of your smartphone or tablet. But with so many apps out there, how do you choose the best Forex trading app for you? Here are a few important things to consider:
- Regulation and Security: Ensure you choose an app from a well-regulated Forex broker with a good reputation. Well-regulated provide secure trading environments and are transparent about their fees, commissions, and risk management policies.
- Fees: This includes any commission charges, spreads, or other costs associated with using the app, such as rollover fees and deposit and withdrawal fees. Always make sure you understand your broker’s fee structure before starting trading.
- User-Friendly: You don’t want an app that’s too complicated and difficult to use. Look for an app that is user-friendly with an intuitive design that provides a streamlined trading experience. Many good brokers provide tutorial walk-throughs of their apps to help you get on your feet.
- Trading Execution: Your app should be fast and reliable, meaning orders can be placed, closed and managed almost instantly. Apps with poor trade execution can greatly increase risk and may lead to higher losses.
- Tools and Features: Ensure the app has the tools to maximise your trading opportunities. Does it offer real-time market data? Does it have advanced charting capabilities? Does it offer automated trading? Can you conduct technical analysis? Can you set automated price alerts? Knowing the features you want will help you narrow down your choice of app.
- Demo Accounts: Choose an app with a free demo account that allows you to test out its features and see whether it meets your trading needs. You can also test out your trading strategies in real market conditions before using real money.
- Financial Instruments: Many brokers only allow traders to trade on a portion of the instruments available on the desktop and browser versions of the platform. Consider whether the instruments you prefer trading are available on the app.
What is the best Forex trading App?
It’s impossible to say which trading app is best as traders have different priorities, but AvaTrade’s trading app, AvaTradeGo, provides a smooth trading experience with a sophisticated dashboard, complete with a set of intuitive risk-management tools, clear charts, zoom for details, and many more helpful features unique to this app.
Which is the Best Forex Trading App for Beginners?
The best trading apps for beginners are easy to set up and use and have built-in educational resources. In our testing, we found that the Skilling Trader App has many helpful features for beginners. Not only is it easy to use, but it also includes a Trading Assistant that walks you through the app features. Traders can easily transfer, withdraw and deposit funds, search for instruments, create watchlists, and all of Skilling’s educational materials and market news are available on the app.
Are Trading Apps Safe?
All Forex and CFD trading comes with a high degree of risk of losing all the money in your trading account. In terms of app security, as long as you download an app from a well-regulated broker and protect your trading account with a strong password and two-factor authentication, your Forex trading app should be secure from hackers.
What are the Pros and Cons of using a Trading App?
While there are a few advantages to using trading apps, such as being able to respond immediately to market movements wherever you are, there are also disadvantages to be aware of, such as the risk of overtrading and trading while distracted.
Pros:
- Immediately Responding to Price Changes: Trading apps 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 a tap of your screen.
- Convenience: Before smartphone trading apps, it was a huge risk to leave your desk with an open trading position. But now, all aspects of Forex trading can be achieved via a trading app. Most apps will allow you to open and close positions, analyse the market and keep abreast of breaking news.
Cons:
- Distraction: 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 you have taken the time and space to judge your trading decisions.
- Overtrading: Often, the best move when trading is to do nothing. But with the convenience of a mobile trading app, you may be tempted to trade too often, or in a way you would not usually do.
- Execution Speed: With 5G or Wi-Fi, execution speeds on mobile trading apps are generally good, but if your signal drops out, any kind of precision trading will be at risk. Mobile networks are getting faster all the time, but there will always be a delay relative to a desktop trading environment.
- Screen Size and Chart Limitations: 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.
Does MetaTrader have an App?
Yes, both MetaTrader 4 and MetaTrader 5 are available as trading apps for Android devices from the Google Play store. Apple removed the MetaTrader apps from its App Store in September 2022 following claims of misuse.
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: Leverage, market volatility, slippage arising from a lack of liquidity, inadequate trading knowledge or experience, and a lack of regulatory protection. Traders should not deposit any money that is not considered disposable income. 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 about these risks from the UK’s regulator, the FCA, or the Australian regulator, ASIC).
Our Rating & Review Methodology
Our State of the Market Report and Directory of CFD Brokers to Avoid are the result of extensive research on over 180 Forex brokers. These resources help traders find the best Forex brokers – and steer them away from the worst ones. These resources have been compiled using over 200 data points on each broker and over 3000 hours of research. Our team conducts all research independently: Testing brokers, gathering information from broker representatives and sifting through legal documents. Learn more about how we rank brokers.
Editorial Team
Chris Cammack
Head of Content
Chris joined the company in 2019 after ten years experience in research, editorial and design for political and financial publications. His background has given him a deep knowledge of international financial markets and the geopolitics that affects them. Chris has a keen eye for editing and a voracious appetite for financial and political current affairs. He ensures that our content across all sites meets the standards of quality and transparency that our readers expect.
Alison Heyerdahl
Senior Financial Writer
Alison joined the team as a writer in 2021. She has a medical degree with a focus on physiotherapy and a bachelor’s in psychology. However, her interest in forex trading and her love for writing led her to switch careers, and she now has over eight years experience in research and content development. She has tested and reviewed 100+ brokers and has a great understanding of the Forex trading world.
Ida Hermansen
Financial Writer
Ida joined our team as a financial writer in 2023. She has a degree in Digital Marketing and a background in content writing and SEO. In addition to her marketing and writing skills, Ida also has an interest in cryptocurrencies and blockchain networks. Her interest in crypto trading led to a wider fascination with Forex technical analysis and price movement. She continues to develop her skills and knowledge in Forex trading and keeps a close eye on which Forex brokers offer the best trading environments for new traders.
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