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AuthorBy Jeffrey Cammack
Updated: May 5, 2022

MetaTrader 5 (MT5) is the most recent version of the industry-standard MetaTrader Forex trading platform and the first to use multi-asset functionality for stocks, futures and Forex trading. Though still not as popular as the previous MT4 version, MT5 is supported by a growing number of brokers, giving traders a wider trading platform choice.

To test these brokers, we downloaded the MT5 software from our trading account and connected the platform to our live trading accounts. As part of our test, in addition to trading currency pairs, we traded indices, stocks and commodities, which is impossible with previous MetaTrader versions, traded with the expanded set of indicators in unlimited chart windows and installed MQL5 scripts to enable automated trading.  These are the best MT5 brokers in Malaysia for 2022, according to our testing and our research.

  • FXTM - Best MT5 Accounts
  • OctaFX - Best MT5 Trading Tools
  • Tickmill - MT5 Broker with the Lowest Trading Costs
  • AvaTrade - Best Commission-Free MT5 Account
  • XM - Best MT5 Demo Account
  • Pepperstone - Best ECN Broker with MT5 Support
  • FP Markets - Best MT5 Raw Account
  • FxPro - Best FCA Regulated MT5 Broker
  • IC Markets - Best ECN MT5 Broker for Beginners
  • BDSwiss - Best MT5 Market Analysis

Best MT5 Forex Brokers 2022

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Broker
Overall Rating
Official Site
MetaTrader 5 (MT5)
Min. Deposit
Max. Leverage (Forex)
Beginner Friendly
Cost of Trading
EUR/USD - Standard Spread
EUR/USD - Raw Spread
Regulated By
Total CFDs
Currency Pairs
Compare
FXTM
4.33 /5
Read Review
Create Account >
Your capital is at risk
USD 102000:1ExcellentUSD 151.50 pips0.00 pipsCySEC Regulated BrokersFCA Regulated BrokersFinancial Services Commission79162
OctaFX
4.12 /5
Read Review
Create Account >
Your capital is at risk
USD 50500:1StandardUSD 70.70 pips0.70 pipsFinancial Services Authority – St. Vincent & the Grenadines7932
Tickmill
4.48 /5
Read Review
Create Account >
Your capital is at risk
USD 100500:1ExcellentUSD 40.00 pips0.10 pipsCySEC Regulated BrokersFCA Regulated BrokersLabuan Financial Services AuthorityFinancial Services Conduct AuthorityThe Seychelles Financial Services Authority20762
AvaTrade
4.48 /5
Read Review
Create Account >
Your capital is at risk
USD 100400:1ExcellentUSD 90.90 pips0.90 pipsASIC BrokersFinancial Services Conduct AuthorityBritish Virgin Islands Financial Services CommissionFinancial Services AgencyCySEC Regulated BrokersCentral Bank of Ireland87255
XM
4.25 /5
Read Review
Create Account >
Your capital is at risk
USD 5888:1ExcellentUSD 161.60 pips0.80 pipsCySEC Regulated BrokersASIC BrokersFCA Regulated BrokersInternational Financial Services Commission151057
Pepperstone
4.61 /5
Read Review
Create Account >
Your capital is at risk
USD 0200:1ExcellentUSD 60.60 pips0.17 pipsFCA Regulated BrokersASIC BrokersCySEC Regulated BrokersDubai Financial Services AuthorityBundesanstalt für FinanzdienstleistungsaufsichtSecurities Commission of the BahamasCapital Markets Authority070
FP Markets
4.28 /5
Read Review
Create Account >
Your capital is at risk
AUD 100500:1ExcellentUSD 70.10 pips0.10 pipsASIC BrokersCySEC Regulated Brokers1009960
FxPro
4.29 /5
Read Review
Create Account >
Your capital is at risk
USD 100200:1ExcellentUSD 141.40 pips0.40 pipsFCA Regulated BrokersCySEC Regulated BrokersFinancial Services Conduct AuthorityDubai Financial Services AuthoritySecurities Commission of the Bahamas218170
IC Markets
4.46 /5
Read Review
Create Account >
Your capital is at risk
USD 200500:1ExcellentUSD 80.10 pips0.02 pipsCySEC Regulated BrokersASIC BrokersThe Seychelles Financial Services Authority174464
BDSwiss
4.32 /5
Read Review
Create Account >
Your capital is at risk
USD 10500:1ExcellentUSD 151.50 pips0.30 pipsCySEC Regulated BrokersFinancial Services CommissionThe Seychelles Financial Services Authority23450

How to compare MT5 brokers

The newer of the two MetaQuotes platforms, MT5 has an updated user interface and additional functionality for clients who want to trade centralised markets and take advantage of updated features and programming languages.

Regulation: Regulation is needed to ensure your trading funds are safe and that the broker’s trading desk is not manipulating your trades. Although multiple regulators can regulate a broker, a trader should always know which regulator is overseeing your account, as only one regulator will be responsible for your trading account.

Assets available: One of the main attractions of MT5 is the expanded amount of tradable assets. Research each broker to see who has the most tradable assets and in what classes. Having a wide range of assets means a wide range of trading opportunities. If you plan on mainly trading FX, always check the number of FX pairs your broker has available.

Trading costs: Trading costs, which include spread and commission fees, will vary with each broker. The lower the total trading cost, the more profit a client can make from each trade. Each trading account can also have different trading conditions, so research trading costs on the MT5 accounts are part of your comparison.

Fee structure: While most of the best-regulated brokers will have very few additional fees, additional fees will occasionally emerge. These fees are usually inactivity fees, withdrawal fees, or charges connected with special account types like Islamic accounts.

Trade execution: Trading venue and execution speed are important components of any MT5 trading experience. The trading venue will conclude if your broker is acting as counter-party to your trade or if your broker has found you a counter-party through its network. The trade execution speed will indicate how much slippage you should expect between when you open your position and when it is opened on the market.

Hedging: MT5 does not allow for hedging as standard, so check with your broker to see if they can enable it.

Customer service: A simple check, but check the opening hours for customer service. It is good to know when customer service is available to take your call and resolve issues promptly.


FXTM – Best MT5 Accounts

One of the best MT5 brokers in Malaysia, FXTM offers both standard and ECN accounts. While FXTM’s Cent Account has a minimum deposit of 50 USD and spreads starting at 1.5 pips, FXTM also offers two market execution accounts on MT5, with spreads starting at 0 pips and leverage as high as 1:2000. Minimum deposits for the Advantage Account start at 500 USD, which features the tightest spreads and a relatively low commission of 4 USD round turn.

For traders just getting started on MT5, FXTM has a large volume of training material, including videos, webinars, and a searchable glossary of new vocabulary. An additional set of videos covering analysis topics and more detail on chart reading techniques is available for experienced traders. FXTM are one of the few brokers with weekend support, allowing new traders to get set up outside of the working week.

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 MT5 Trading Tools

OctaFX is unusual, in that its account types are directly tied to platform choice. This means that there is only one MT5 account available and the other two accounts are on the MT4 and cTrader platforms. The MT5 (Pro) Account at OctaFX features floating spreads starting at 0.4 pips, no commission, and a minimum deposit of 50 USD (or equivalent). OctaFX offers high-speed market execution and hedging, scalping and automated trading are all supported.

In addition to low trading costs on the MT5 (Pro) Account, OctaFX offers an account monitoring tool to anonymously monitor other traders, free copy-trading for all traders (also available on mobile), and free Autochartist for all accounts with a balance of more than 500 USD.

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 – MT5 Broker with the Lowest Trading Costs

Focused on experienced traders and serious beginners, Tickmill only recently started offering MT5 after 7 years as an MT4-only broker. While Tickmill may not be one of the biggest names in the CFD business, it does offer some of the lowest trading costs available.

Tickmill has 3 different account types, all available on MT4 and MT5. The Classic Account has relatively wide spreads and no commission, but the MT5 Pro Account offers dynamic spreads down to 0 pips and a 4 USD (round turn) commission – one of the lowest commissions in the industry. Both the Classic Account and the Pro Account have a low minimum deposit requirement of 100 USD.

For professional traders, the MT5 VIP Account has even lower commissions, down to 2 USD (round turn) – though this account requires a minimum balance of 50,000 USD. More experienced traders will also be interested in Tickmill’s range of trading tools for MT5, such as 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.

AvaTrade – Best Commission-Free MT5 Account

AvaTrade is a globally renowned market maker with the best commission-free trading conditions available on the MT5 platform. AvaTrade’s MT5 trading platform offers spreads as low as 0.7 pips on the EUR/USD, much lower than most other non-commission accounts. MT5 traders have access to the full range of AvaTrade’s assets, including Forex, commodities, stocks, indices, cryptocurrencies, bonds, and ETFs. Max leverage is 400:1, and spreads are tight for a relatively low 100 USD minimum deposit and no commission.

AvaTrade supports all native features of MT5, such as twelve timeframes, EA functionality, 38 built-in indicators and 37 graphical objects – one-click trading is also fully supported. Islamic accounts are fully supported on MT5 but both the AvaProtect loss-protection tool and Trading Central are only on AvaTrade’s proprietary trading platforms.

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 – Best MT5 Demo Account

XM is a well-regulated market maker and with low minimum deposits, wide account choice, fast order execution and a good range of assets on both the MT4 and MT5 platforms.  The XM Zero account offers spreads down to 0 pips and a commission of 3.50 USD per lot. Hedging, scalping, and algorithmic trading are all permitted on MT5.

The MT5 demo account at XM is funded with a 100,000 USD virtual balance and is aimed at traders who want to trade more than just Forex. With over 1000 instruments available, traders will have access to stock CFDs, stock indices CFDs, CFDs on precious metals and CFDs on energies. The MT5 demo account also features a market depth indicator, hedging, and full EA functionality. XM’s demo account is not time-limited.

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.

Pepperstone – Best ECN Broker with MT5 Support

Pepperstone is an Australian ECN broker with two simple accounts, ASIC regulation and full support for MT5, including hedging and share trading. Most orders are executed in less than 50 milliseconds, which is ideal for scalpers and clients who run MT5’s expert advisors.

Pepperstone offers two accounts, both with tight floating spreads and ECN execution. The Standard Account is commission-free and the average spread on the EUR/USD is 1.09 pips. The Razor Account charges a commission of 7 USD round turn but the average spread on the EUR/USD is 0.09 pips – about as close as traders can get to true market prices as possible.

Pepperstone offers a package of Smart Trader Tools for MT5, a suite of 28 expert advisors and indicators to help improve trade execution and management. In addition, all MT5 users will get access to Autochartist – a powerful pattern recognition plugin that automatically identifies trading opportunities based on price trends.

Pros
  • Well regulated
  • Tight spreads
  • Great platform choice
  • Wide range of assets
Cons
  • Limited market analysis
AlertAccepts 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.

FP Markets – Best MT5 Raw Account

FP Markets is a leading ASIC-regulated broker, providing tight spreads on its two MT5 accounts and access to Forex, shares, commodities, indices, and crypto pairs. A standard commission-free account is available alongside the RAW Account, with spreads starting at 0 pips for a 3 USD commission per lot. The minimum deposit on both accounts is 100 USD.

FP Markets MT5 support allows hedging, scalping and automated trading and the broker’s ECN pricing model allows for fast execution using its network of liquidity providers and Equinix NYC servers. Relative to other Forex brokers, FP Markets invests in new traders with award-winning customer service, dedicated account managers and a rich education section, which includes daily email updates of the latest financial news impacting the currency markets.

Pros
  • Well regulated
  • Tight spreads
  • Good range of accounts
  • Great customer support
Cons
  • Expensive withdrawals
AlertAccepts Malaysian Clients. Average spread EUR/USD 0.10 pips with 6 USD commission round turn on the trading account with lowest minimum deposit. Max leverage 500:1. Islamic account available. MT4 & MT5 platforms supported. FP Markets is regulated by CySEC and ASIC.

FxPro – Best FCA Regulated MT5 Broker

FxPro is a respected FCA regulated broker, offering NDD execution on MT5, MT4, cTrader and its own browser-based trading platform. The MT5 account offers a 100 USD opening deposit combined with competitive spreads on 70+ Forex pairs, indices, energies and precious metals. Most trades are executed in less than 10 milliseconds and only 9% of orders receive negative slippage. These execution statistics are ideal for traders who want to take advantage of MT5’s algorithmic trading capabilities across a range of assets.

The MT5 account at FxPro offers market execution, variable spreads, no requotes and will allow for partial fills for orders that lack liquidity.  The MT5 account is commission-free with spreads sometimes down to 0.6 pips, though traders will find that the average spread on the EUR/USD is closer to 1.2 pips.

Pros
  • Well regulated
  • Great platform choice
  • Tight spreads
Cons
  • Limited education
AlertAccepts Malaysian Clients. Average spread EUR/USD 1.40 pips on trading account with lowest minimum deposit. Max leverage 200:1. Islamic account available. MT4, MT5, cTrader and FxPro proprietary trading platform supported. FxPro Group is regulated by FCA, CySEC, FSCA, and the DFSA

IC Markets – Best ECN MT5 Broker for Beginners

IC Markets is rare amongst ECN brokers, as it provides a welcoming environment for beginner traders. IC Markets offers an archive of structured course material, detailed independent market analysis, and expert-led webinars. IC Markets also provides excellent 24/7 technical support for the MT5 platform and more general queries.

IC Markets offers two Raw Spread Accounts and a Standard Account, all with variable spreads, on the MT5 platform. The Raw Spread Accounts charge a small commission of 3.50 USD, but spreads are often down to 0 pips, averaging 0.1 pips on the EUR/USD pair. The Standard Account charges no commission but spreads start at 1 pip. IC Markets pricing relies on 25 different liquidity providers ensuring deep liquidity and some of the lowest spreads in the industry.

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.

BDSwiss – Best MT5 Market Analysis

BDSwiss offer MT5 trading on a wide range of asset classes including Forex pairs, stocks, commodities, shares, indices, ETFs and cryptocurrencies, with no strategy restrictions. MT5 traders will benefit from BDSwiss’ collection of MT5 trading tools and market-leading research and education for traders of all experience levels. Analysis includes daily webinars, market insights, weekly outlook and daily briefings – all from BDSwiss’ team of industry experts. 

BDSwiss offers MT5 account types suitable for beginners and more experienced traders, including a Raw Account with spreads down to 0.30 pips and the Classic Account with a minimum deposit of 10 USD. All accounts benefit from fast execution speeds, with 97.5% of all trades executed in less than 0.2 seconds.

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.

What is MT5?

Released in 2010, MetaTrader 5 (MT5) is the latest version of the market-leading MetaTrader trading software.

Much like MT4, MT5 allows traders to access the Forex market via a broker, but it also provides additional access to CFDs, stocks and futures. This also means that it is a more valuable asset for brokers as it allows them to reach a broader base of clientele – this has resulted in a noticeable uptick in the number of brokers supporting MT5, sometimes replacing their support for MT4 altogether.

MT5 comes with a new script-writing language, MQL5, which is much more efficient than MQL4, if harder to learn for beginners. 

Though the interface is similar to MT4, MT5 has more advanced charting tools, including 12 more timeframes and more built-in technical indicators. 

MT5 also allows for an unlimited amount of charts to be used, shows Depth of Market and has a built-in Economic Calendar. It also has a larger number of pending order types than MT4 and features an embedded chat system.

Should I use MT5?

If you want to trade other CFDs as well as Forex but want to have a standalone client then MT5 is a good choice. If you only want to trade Forex on a simpler platform, then it’s a good idea to start with MT4. 

If you already have some experience with MT4 and are thinking of switching, it really depends on your reasons why. The only significant reason I can think of for switching to MT5 is if you want to trade other markets. The significant reason for not switching is that programmes written for MT4 will not run in MT5, so you will lose all your EAs, indicators and automated scripts in the transition.

The big question is how much longer MT4 is going to be supported by the big brokers. It is unquestionably the industry standard at present and recent upgrades to the MQL4 language have made it almost as easy and efficient as MQL5 to create automated trading scripts.

That said, more brokers are offering MT5 all the time and some have chosen to only support MT5 from now on – if you are just starting out trading there is something to be said for getting used to MT5 before it starts overtaking its older sibling, which has already started happening.

Advantages of MT5

  • Unlike MT4, MT5 allows users to trade centralised markets – such as indices, stocks and commodities.
  • MT5 is more feature complete and comes with an Economic Calendar, Depth of Market indicator, embedded chat function, unlimited chart windows, 80 built-in indicators and 12 more time-frames than MT4.
  • MT5’s new scripting language (MQL5) is a more efficient language and features a powerful built-in script tester.

Disadvantages of MT5

  • MT5 does not allow for hedging as standard, you will need to request it to be enabled from your broker.
  • MT5 scripts written in MQL5 are not backwards compatible with MQL4 – so anyone making the transition from MT5 to MT4 will lose all their EAs and scripts.
  • MT5 is a more complex platform than MT4.

MT5 has grown in popularity recently in response to higher demand for multi-asset trading and is now supported by a number of the better brokers.

All MT5 Brokers

Here is our curated list of all of the regulated MT5 brokers we have reviewed, ordered by overall score. The broker with the highest score will appear at the top of the list.

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Broker
Overall Rating
Global Regulators
Min. Deposit
Max. Leverage (Forex)
Islamic Account
Total # CFDs
No. of FX Pairs
Cost of Trading
EUR/USD
GBP/USD
USD/JPY
Trading Commission
Compare
Pepperstone
4.61 /5
Read Review
FCA Regulated BrokersASIC BrokersCySEC Regulated BrokersDubai Financial Services AuthorityBundesanstalt für FinanzdienstleistungsaufsichtSecurities Commission of the BahamasCapital Markets AuthorityUSD 0200:1 070USD 60.17 pips0.10 pips0.26 pipsFrom 7 USD / lot - Razor Account
HFM (HotForex)
4.49 /5
Read Review
CySEC Regulated BrokersFCA Regulated BrokersFinancial Services Conduct AuthorityDubai Financial Services AuthorityFinancial Services CommissionThe Seychelles Financial Services AuthorityUSD 51000:1 116953USD 100.10 pips0.50 pips0.30 pips6 USD / lot - Zero Account
Markets.com
4.49 /5
Read Review
FCA Regulated BrokersCySEC Regulated BrokersASIC BrokersFinancial Services Conduct AuthorityBritish Virgin Islands Financial Services CommissionUSD 100300:1 220667USD 70.60 pips1.20 pips0.70 pipsFees Included in Spread
AvaTrade
4.48 /5
Read Review
ASIC BrokersFinancial Services Conduct AuthorityBritish Virgin Islands Financial Services CommissionFinancial Services AgencyCySEC Regulated BrokersCentral Bank of IrelandUSD 100400:1 87255USD 90.90 pips1.60 pips1.10 pipsFees Included in Spread
Tickmill
4.48 /5
Read Review
CySEC Regulated BrokersFCA Regulated BrokersLabuan Financial Services AuthorityFinancial Services Conduct AuthorityThe Seychelles Financial Services AuthorityUSD 100500:1 20762USD 40.10 pips0.30 pips0.10 pips4 USD / lot
IC Markets
4.46 /5
Read Review
CySEC Regulated BrokersASIC BrokersThe Seychelles Financial Services AuthorityUSD 200500:1 174464USD 80.02 pips0.23 pips0.14 pips7 USD / lot - Raw Spread Account
Admirals
4.34 /5
Read Review
ASIC BrokersCySEC Regulated BrokersFCA Regulated BrokersFinancial Services Conduct AuthorityUSD 25500:1 383050USD 80.80 pips0.60 pips0.30 pips1.8 - 3 USD per lot
FXTM
4.33 /5
Read Review
CySEC Regulated BrokersFCA Regulated BrokersFinancial Services CommissionUSD 102000:1 79162USD 150.00 pips0.20 pips0.00 pipsFrom 4 USD / ECN Accounts
BDSwiss
4.32 /5
Read Review
CySEC Regulated BrokersFinancial Services CommissionThe Seychelles Financial Services AuthorityUSD 10500:1 23450USD 150.30 pips0.60 pips0.30 pips5 USD / lot - RAW account
FxPro
4.29 /5
Read Review
FCA Regulated BrokersCySEC Regulated BrokersFinancial Services Conduct AuthorityDubai Financial Services AuthoritySecurities Commission of the BahamasUSD 100200:1 218170USD 140.40 pips1.00 pips0.60 pips9 USD / lot
FP Markets
4.28 /5
Read Review
ASIC BrokersCySEC Regulated BrokersAUD 100500:1 1009960USD 70.10 pips0.20 pips0.10 pips6 USD / lot - RAW Accounts
Oanda
4.25 /5
Read Review
FCA Regulated BrokersASIC BrokersMonetary Authority of SingaporeInvestment Industry Regulatory Organization of CanadaBritish Virgin Islands Financial Services CommissionThe Seychelles Financial Services AuthorityUSD 0200:1 42545USD 100.10 pips0.10 pips0.10 pips4 USD / lot
Valutrades
4.25 /5
Read Review
FCA Regulated BrokersThe Seychelles Financial Services AuthorityUSD 5500:1 13874USD 70.10 pips0.40 pips0.10 pips6 USD / Lot
XM
4.25 /5
Read Review
CySEC Regulated BrokersASIC BrokersFCA Regulated BrokersInternational Financial Services CommissionUSD 5888:1 151057USD 160.80 pips1.10 pips0.80 pips7 USD / lot - XM Zero Account
FBS
4.23 /5
Read Review
CySEC Regulated BrokersASIC BrokersFinancial Services Conduct AuthorityInternational Financial Services CommissionUSD 13000:1 25437USD 70.70 pips1.20 pips1.30 pips6 USD / lot - ECN Account
ThinkMarkets
4.18 /5
Read Review
Financial Services Conduct AuthorityFCA Regulated BrokersASIC BrokersThe Seychelles Financial Services AuthorityCySEC Regulated BrokersFinancial Services AgencyUSD 0500:1 180846USD 120.00 pips0.00 pips0.00 pips7 USD / lot - ThinkZero Account
Eightcap
4.13 /5
Read Review
ASIC BrokersVanuatuSecurities Commission of the BahamasAUD 100500:1 97245USD 70.06 pips0.73 pips0.23 pips7 USD / lot
GKFX Prime
4.13 /5
Read Review
Malta Financial Services AuthorityBritish Virgin Islands Financial Services CommissionSecurities and Exchange Regulator of CambodiaUSD 501000:1 22550USD 180.90 pips1.30 pips1.70 pipsFees Included in Spread
OctaFX
4.12 /5
Read Review
Financial Services Authority – St. Vincent & the GrenadinesUSD 50500:1 7932USD 70.70 pips1.50 pips1.40 pipsFees Included in Spread
FxPrimus
4.11 /5
Read Review
CySEC Regulated BrokersVanuatuUSD 151000:1 18143USD 150.30 pips1.50 pips0.80 pips8 - 10 USD / lot - PRO Account
Go Markets
4.10 /5
Read Review
ASIC BrokersCySEC Regulated BrokersFinancial Services AgencyFinancial Services CommissionAUD 200500:1 57549USD 100.20 pips0.50 pips0.20 pips6 USD / lot - GoPlus+
ACY Securities
4.08 /5
Read Review
ASIC BrokersVanuatuUSD 50500:1 173163USD 100.30 pips1.60 pips1.20 pipsFees Included in Spread
HYCM
4.08 /5
Read Review
CySEC Regulated BrokersFCA Regulated BrokersDubai Financial Services AuthorityFinansinspektionenBundesanstalt für FinanzdienstleistungsaufsichtUSD 100200:1 28770USD 120.10 pips0.40 pips0.20 pips8 USD / lot - Raw Account
LiteForex
4.07 /5
Read Review
Financial Services Authority – St. Vincent & the GrenadinesUSD 10500:1 12656USD 100.20 pips0.20 pips0.10 pips10 USD / lot - ECN Account
MultiBank
3.93 /5
Read Review
Financial Services CommissionASIC BrokersUSD 50500:1 2009341USD 140.80 pips1.10 pips1.00 pips3 USD / lot
Errante
3.83 /5
Read Review
CySEC Regulated BrokersThe Seychelles Financial Services AuthorityUSD 50500:1 15150USD 151.50 pips1.60 pips1.50 pipsFees Included in Spread
Swissquote
3.70 /5
Read Review
FCA Regulated BrokersBundesanstalt für FinanzdienstleistungsaufsichtFinansinspektionenUSD 1000100:1 244130USD 171.70 pips2.00 pips1.60 pipsFees Included in Spread
Trade360
3.70 /5
Read Review
CySEC Regulated BrokersASIC BrokersFinansinspektionenBundesanstalt für FinanzdienstleistungsaufsichtUSD 250400:1 60248USD 402.00 pips3.00 pips3.00 pipsFees Included in Spread
Vantage FX
3.63 /5
Read Review
FCA Regulated BrokersASIC BrokersCayman Islands Monetary AuthorityVanuatuUSD 200500:1 31846USD 100.00 pips0.50 pips0.40 pips4 USD / lot - ECN Accounts
UFX
3.60 /5
Read Review
CySEC Regulated BrokersUSD 10030:1 5050USD 202.00 pips3.00 pips3.00 pips
Darwinex
3.52 /5
Read Review
FCA Regulated BrokersUSD 50030:1 4540USD 70.20 pips0.80 pips0.40 pips5 USD / lot
Black Bull Markets
3.50 /5
Read Review
Financial Markets Authority of New ZealandThe Seychelles Financial Services AuthorityUSD 200500:1 4127USD 120.18 pips0.66 pips0.44 pips6 USD
Fibo Group
3.50 /5
Read Review
CySEC Regulated BrokersBundesanstalt für FinanzdienstleistungsaufsichtFinansinspektionenBritish Virgin Islands Financial Services CommissionFinancial Services CommissionUSD 01000:1 807948USD 60.30 pips0.50 pips0.30 pips6 USD / lot
LegacyFX
3.49 /5
Read Review
CySEC Regulated BrokersVanuatuUSD 500200:1 4541USD 161.60 pips1.50 pips1.60 pipsFees Included in Spread
Trade.com
3.42 /5
Read Review
CySEC Regulated BrokersFCA Regulated BrokersFinancial Services Conduct AuthorityUSD 100300:1 221555USD 193.00 pips3.00 pips3.00 pipsFees Included in Spread

Conclusion

MT5 will eventually overtake MT4 as the industry standard (unless one of the MetaQuotes competitors get there first) it’s just a matter of when.

The fact that MT5 is more feature-complete, supports trading across all financial markets, and allows for advanced script testing makes it very appealing to both brokers and traders. Allowing hedging for non-US users was a removal of a major obstacle to widespread support for MT5.

The only remaining problem is the lack of backwards compatibility with MT4 robots and EAs – and this is a problem that is never going to go away.

If you use MT4 and you love it, stick with it as it’s going to remain the gold standard for some time yet – unless you want to trade other financial markets. If you are new to trading it’s worth considering going straight to MT5.

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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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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