Forex broker malaysia

Spreads with this broker are low, starting from just 1 pips and trading is through MT4 trading platform. .

My list of forex bonuses

Top 9 Best Forex Brokers in Malaysia for 2021, forex broker malaysia.

With that said, trading as a malaysian forex trader is still not illegal and some of the forex brokers that we have listed provide the very best in terms of regulatory oversight from top-tier bodies such as cysec, the FCA, or ASIC.

Top 9 best forex brokers in malaysia for 2021

Top rated:

Searching for a trading broker in malaysia?

With this collection of the best forex brokers the country has to offer. Here you are sure to find one that fits your trading needs.

Making your malaysia forex broker search as easy as possible starts with choosing from one of these top choices, any of which can be opened both quickly and easily.

Is forex trading legal in malaysia?

This is a very valid question and concern since not very long ago forex trading in malaysia was not legal.

Now however, the rules are changing.

You will find that officially within malaysia, the only legal regulation is that people can only register with a financial services company that is regulated within malaysia and compliant with the laws of the country.

With that said, given that forex trading is relatively new to malaysia, there are not yet any brokers that are regulated by the SCM (securities commission of malaysia).

How to trade forex in malaysia

If you want to trade forex within malaysia then the process is in fact quite straightforward since the regulations are still quite new and allow for no particular restrictions in terms of what a forex trader can do or what a broker can offer.

The only key steps beyond choosing the correct malaysian forex broker for you is to submit the relevant documents to begin trading. These will typically include your proof of ID and residency.

From there, you are ready to begin trading.

Top 10 best forex brokers in malaysia

Here is our collection of what we feel are the best malaysia broker choices for you as a forex trader:

1. Instaforex

Starting our list of the best forex brokers in malaysia is instaforex. They are a well-known and award winning broker particularly within asia having won more than 19 awards and counting related to being the “best broker in asia”.

Beyond this, they are also very well regulated by multiple regulatory bodies including the FCA, ASIC, and cysec. When it comes to account types you will have a total of 6 to choose from. Instaforex minimum deposits here range from a bargain $1 up to $1,000 depending on account type. The account types available include 2 cent accounts, a standard account, 2 ECN accounts, and a scalping account.

You can deposit MYR through wire transfer within local banks and you can also utilize a fully functioning demo account to try out the broker. This is ideal, in combination with really low-risk cent accounts to help new forex traders get to know the market.

Finally, an islamic account type is available though there is an additional fee that replaces the swap fee. Instaforex also offers 4 bonuses to traders. This includes a 100% first deposit bonus.

XM is renowned as one of the best forex brokers in the world and is available to malaysian forex traders. They are again regulated by some of the foremost authorities in the industry in the form of FCA, cysec, and ASIC. They were also awarded the “best forex broker in australasia” award along with numerous others.

Opening an XM account, you will be faced with a wide choice of 6 account types. Minimum deposits on these account types range from $5-$100 depending on account, or you can also opt for a shares account with a minimum deposit of $10,000. These deposits can be made through wire transfer, credit card, or ewallet although no MYR deposits are facilitated.

If you would like to try out the broker, you can avail of their full demo account. This, together with the XM micro account offers a great path to get into forex trading in malaysia and around the world.

Spreads at XM can start from as little as 0 pips in many cases, and the XM islamic account follows all of the same conditions of the regular accounts with no mark-ups, higher spreads, or additional commissions.

3. Octafx

Next in our collection of the top malaysian forex brokers is octafx. They are also regulated by two highly trusted regulatory bodies in the form of both the FCA in the UK and cysec in europe. They are reputed within the industry as offering some of the best swap-free services around. In fact, in 2015 they were recognized byb forextraders.Com as the “best forex islamic account” providers.

To that end, micro, ECN, and pro accounts are available with minimum deposits starting at $100 and reaching $500 for a pro account. It is also worth noting that every account is available as a swap-free account. The accounts utilize the top trading platforms of MT4, MT5, and ctrader.

MYR deposits are accepted and can be made through local banks, billplz, and help2pay services with an excellent exchange rate of 3 MYR per $1 USD available. Spreads also start from a highly competitive 0 pips across the board and the trading conditions feature no changes at all when it comes to islamic account trading.

In terms of octafx bonus offers, a 50% deposit bonus is made available on each deposit.

4. Hotforex

Hotforex is another globally recognized forex broker and top choice for you as a malaysian trader. They are well regulated by both cysec and ASIC and offer a wide choice of 6 forex account types to choose from.

Again here, this includes a micro trading account with a minimum deposit of only $5 ideal for new traders, a premium account with a $100 minimum, a zero spread account, and an auto trading account you can try for a minimum deposit of $200. If you are interested in copytrading this is available through hfcopy with a minimum of $100 deposit to copy, or $300 if you want others to copy your trades.

When it comes to deposits, MYR is available through local bank transfer. In other cases, you can use your major credit card or ewallet methods. Either way, a fully realistic demo account is accessible as is an islamic account where needed.

Spreads here start from a competitive 0 pips across the board although some additional fees may apply on islamic accounts. You can offset these through cash rebates, 100% bonuses, and the higher leverage that hotforex try to offer along with many real prize winning trading contests.

5. FBS

Next on the list of the best malaysian forex brokers is FBS. As with all of our brokers they are well-trusted and fully regulated by both cysec and the IFSC. This is an excellent broker with 5 account choices including a great cent account offering that may be just perfect for new traders. These account types also include an ECN account.

Minimum deposits with the broker start from just $1 reaching up to $1,000 depending on your account choice and although MYR deposits are unavailable, funding via wire transfer, credit card, and ewallet are all available. Every account can also be made swap-free where needed.

Although FBS do add an additional admin fee if you hold a position for more than 2 days with a swap-free account, this can be somewhat balanced by the fact they have a comprehensive bonus offering that includes a 100% deposit bonus and contests including some particularly aimed at islamic traders during ramadan.

6. Oanda

Oanda is one of the few brokers to be regulated in the USA by the CFTC as well as the NFA, and globally through the FCA, MAS, ASIC, and IIROC. A who’s who of top regulators for a much trusted broker.

They offer just one account type but it is available with no minimum deposit at all. Perfect if you are new to the forex trading market. Another suitable point here is you can open positions for as low as just one currency unit ($1 or equivalent base currency), although no MYR deposits are available.

With that said, deposits can be made through wire transfers, major credit cards, and ewallets. Fully operational oanda demo accounts are available to try as are islamic accounts on request.

Spreads with this broker are low, starting from just 1 pips and trading is through MT4 trading platform. .

You may find that some additional fees are placed on the islamic account in place of the swap fee, and at the moment there is unfortunately no bonus offering in place.

7. Pepperstone

Pepperstone are another of the standard bearing top brokers offering service to malaysian forex traders. They are regulated by the top authorities of FCA and ASIC and are one of the most chosen ECN brokers around.

They have two available account types that can be opened with a minimum deposit of $200. These are the standard and ECN razor account types which are also both available as islamic accounts. For account deposits, wire transfers, credit cards, and ewallets are all accepted methods of funding although no MYR deposits are available.

Spreads with pepperstone start from 0 pips and trading is available through MT4, MT5, or ctrader and you are welcome to try the pepperstone demo account first.

On the islamic accounts, an admin fee will be applied on positions held for more than 10 days and no pepperstone bonus amount is currently available.

8. IC markets

IC market regulated by cysec and ASIC represent another of the best malaysian forex broker choices for any traders. They offer 2 account types in their standard and raw spread accounts, both of which can be opened with no minimum deposit.

These accounts can be easily funded through wire transfers, major credit cards, or ewallet methods although no MYR deposits are accepted. On the minimum deposit, although there is none in place, the broker do recommend depositing at least $200.

Spreads with IC markets start from the bottom at 0 pips and with the option of trying a demo account and opting for an islamic account through MT4, MT5, or ctrader platforms. Within this islamic account most conditions remain the same. The only change is an admin fee added on positions open for more than one day.

At this time IC markets does not provide for any kind of bonus offering.

9. Etoro

Last but not least on our listing of top malaysian broker choices is etoro. Known the world over, they are regulated well by cysec, FCA, and ASIC. They are well known of course as a top broker for social trading and a particularly good fit if you are new to the sector.

One account type is offered that can also be made swap-free though in this case the minimum deposit would increase from $200 to $1,000 with trading available through the brokers own user-friendly trading platform.

Spreads at etoro typically start from 1 pip though they can be higher. Deposits are catered for through wire transfer, credit card, and ewallets, though no MYR deposit option is available.

You will be glad to know that while there are no bonus offerings, trading conditions remain the same on islamic accounts.

Malaysian trader? Here’s what to look for in a forex broker

Although there are currently no particular set of stringent rules in place from the SCM and everything is routinely left at the discretion of the trader and broker in terms of what is offered in bonus, leverage, and account type terms, there are still a few things that you should try and look out for when choosing the best forex broker to deal with.

1. Stick with regulated brokers

Always try to choose a regulated forex broker like any of the top brokers listed above. The SCM have not yet officially regulated any themselves, but you can very much trust the listed brokers regulated by some of the top bodies worldwide like cysec, ASIC, and the FCA.

It is good practice to deal with these and any who are also ESMA compliant for the most trusted experience and to avoid offshore regulated or non-regulated brokers where you can.

2. Look for the best islamic account

The muslim population in malaysia is more than 50%. This, along with the fact that islam is the official religion mean there is always big demand for malaysian islamic forex trading accounts.

Since swap or overnight broker fees are considered haram when it comes to sharia law, you should be looking to open an islamic account that will not feature any of these fees in order to be fully compliant.

If you are unsure or interested to learn more about this topic, you can read our best islamic forex brokers guide for more information.

3. Choose the broker before choosing the bonus

One of the biggest final things to be sure of is that, since forex broker bonuses are legal in malaysia, that you do not get blinded by that fact.

This means choosing a broker that best suits your trading needs above considering what types of bonus they offer.

Being tempted by a big bonus offer can leave you dissatisfied in other areas when it comes it future trading and so. You should really not base your broker decision on that. Also, always make sure you read the terms and conditions first.

Finally, you should take advantage of any no deposit bonus opportunities offered by a broker as a great chance to see what they can offer.

How to verify if a forex broker is regulated in malaysia

Although there are not any forex broker officially regulated by the SCM as yet, this may well be possible in the future. In that case, you should take the opportunity to check this page for any further developments.

Checking registration with the other top regulatory bodies can also be as simple as a couple of clicks and a search of the following links:

Keep in mind if you are wondering about ESMA regulation, this depends on the country, but if they have registered in a european country, they will typically be ESMA compliant.

Is forex trading taxable in malaysia?

The simple answer to this question is yes.

Forex trading in malaysia is taxable. That is because all revenues should be declared through your ITN (income tax number) and these are unique to each person and issues by the IRBM (inland revenue board of malaysia).

More information on the precise filing processes can be found here.

With that said, since forex trading is new to malaysia, there is still a considerable grey area related to revenues and capital gains taxes, particularly is the broker you trade with is located outside of malaysia.

[disclaimer: we are not accountants, we have done internet research. Due to these grey areas, we strongly suggest you contacting malay local authorities before proceeding]

Best forex brokers malaysia for 2021

The forexbrokers.Com annual forex broker review (five years running) is the most cited in the industry. With over 50,000 words of research across the site, we spend hundreds of hours testing forex brokers each year. How we test.

Trading forex (currencies) in malaysia is popular among residents. While any internationally regulated forex broker can accept clients from malaysia, it is an additional benefit to also hold a capital markets services license (CMSL) from the securities commission of malaysia (SCM), which is the financial regulatory body in malaysia. SCM's website is sc.Com.My. We recommend malaysian residents follow the SCM on twitter, @seccommy.

Established in 1993, SCM is malaysia's financial markets regulatory body. In april 2018, SCM issued guidelines for contracts for difference (CFD) providers including brokers offering derivatives, under the capital markets services act of 2007, which will become effective july 1st 2018. As a result, we expect more regional brokers will register with SCM in order to acquire a CMSL. For a historical breakdown, here's a link to the securities commission malaysia's webpage on wikipedia.

Best forex brokers malaysia

To find the best forex brokers in malaysia, we created a list of all internationally regulated forex brokers, then ranked brokers by their trust score. Here is our list of the top forex brokers in malaysia.

IG - best overall broker 2021, most trusted

Saxo bank - best for research, trusted global brand

Interactive brokers - great for professionals and institutions

City index - excellent all-round offering

XTB - best customer service, great trading platform

FOREX.Com - great all-round offering

Avatrade - multiple trading platform options

Malaysian forex brokers comparison

Compare malaysian authorised forex and cfds brokers side by side using the forex broker comparison tool or the summary table below. This broker list is sorted by the firm's forexbrokers.Com trust score.

Forex broker	accepts MY residents	average spread EUR/USD - standard	minimum initial deposit	trust score	overall	visit site
IG	yes	0.745	£250.00	99	5 stars	visit site
saxo bank	yes	0.800	$10,000.00	99	5 stars	visit site
interactive brokers	yes	N/A	$0	94	4.5 stars	N/A
city index	yes	1.100	£50.00	93	4.5 stars	N/A
XTB	yes	0.860	$0.00	92	4.5 stars	visit site
FOREX.Com	yes	1.400	$100.00	93	4.5 stars	N/A
avatrade	yes	0.910	$100.00	93	4 stars	visit site
XM group	yes	1.600	$5-100	84	4 stars	visit site
FP markets	yes	1.140	$100 AUD	81	4 stars	visit site
pepperstone	yes	1.160	$200.00	90	4 stars	visit site
IC markets	yes	0.800	$200	83	4 stars	visit site
tickmill	yes	0.530	$100.00	81	4 stars	visit site
fxpro	yes	1.510	$100.00	89	4 stars	visit site
vantage FX	yes	1.350	$200	79	3.5 stars	N/A
moneta markets	yes	1.300	$200.00	79	3.5 stars	N/A
HYCM	yes	2.00	$100	84	3.5 stars	visit site
eightcap	yes	$100	69	3.5 stars	N/A
VT markets	yes	1.30	$200	79	3.5 stars	N/A
blackbull markets	yes	0.76	$200	70	3.5 stars	N/A
octafx	yes	1.100	$5	59	3.5 stars	N/A
easymarkets	yes	0.900	$100.00	81	3.5 stars	N/A
hotforex	yes	1.20	$50	83	4 stars	N/A

How to verify SCM authorisation

To identify if a forex broker is regulated by SCM, the first step is to identify the register number from the disclosure text at the bottom of the broker's malaysia homepage.

Next, look up the firm on the SCM website to validate the current regulatory status of the broker in malaysia. Here is the official page with the public register of license holders on SCM.

It's also worth noting that bank negara malaysia, which is the central bank of malaysia that regulates money service businesses and forex dealers, issued guidelines for digital currencies (cryptocurrency) requiring companies to comply when dealing with crypto assets.

More forex guides

Methodology

For our 2021 forex broker review we assessed, rated, and ranked 27 international forex brokers. Each broker was graded on 108 different variables and, in total, over 50,000 words of research were produced.

While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.

All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than .1% each year, providing site visitors quality data they can trust. Learn more about how we test.

Forex risk disclaimer

"there is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection and market volatility that may substantially affect the price, or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses." learn more.

About the author: steven hatzakis steven hatzakis is the global director of research for forexbrokers.Com. Steven previously served as an editor for finance magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.

Trading cfds, FX, and cryptocurrencies involve a high degree of risk. All providers have a percentage of retail investor accounts that lose money when trading cfds with their company. You should consider whether you can afford to take the high risk of losing your money and whether you understand how cfds, FX, and cryptocurrencies work. All data was obtained from a published website as of 12/14/2020 and is believed to be accurate, but is not guaranteed. The forexbrokers.Com staff is constantly working with its online broker representatives to obtain the latest data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page.

The names, products, services, branding/logos, and other trademarks or images featured or cited within this website (www.Forexbrokers.Com) are the property of their respective owners and the owners retain all legal rights therein. These trademark holders are not affiliated with forexbrokers.Com and the use or display of names, trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, or endorses forexbrokers.Com or any of its reviews, products, or services. Forexbrokers.Com declares no affiliation, sponsorship, nor any partnership with any trademark holders unless otherwise stated.

IG - 76% of retail investor accounts lose money when trading cfds with this provider. You should consider whether you can afford to take the high risk of losing your money.

OANDA - cfds are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading cfds with this provider. You should consider whether you understand how cfds work and whether you can afford to take the high risk of losing your money.

Advertiser disclosure: forexbrokers.Com helps investors across the globe by spending over 1,000 hours each year testing and researching online brokers. How do we make money? Our partners compensate us through paid advertising. While partners may pay to provide offers or be featured, e.G. Exclusive offers, they cannot pay to alter our recommendations, advice, ratings, or any other content throughout the site. Furthermore, our content and research teams do not participate in any advertising planning nor are they permitted access to advertising campaign data. Here is a list of our partners.

Disclaimer: it is our organization's primary mission to provide reviews, commentary, and analysis that are unbiased and objective. While forexbrokers.Com has some data verified by industry participants, it can vary from time to time. Operating as an online business, this site may be compensated through third party advertisers. Our receipt of such compensation shall not be construed as an endorsement or recommendation by forexbrokers.Com, nor shall it bias our reviews, analysis, and opinions. Please see our general disclaimers for more information.

Forex brokers in malaysia 2021

Looking for the best forex broker in malaysia for 2021? There are a large variety of forex brokers available to the malaysian forex trader of today. Forex trading is also fast evolving with new FX brokers emerging all the time and competition evolving at a rapid pace making it difficult for the malaysian forex trader to stay on top of things. The 6 best forex brokers for malaysia are:

Avatrade forex broker

Plus500 forex broker

FXTM forex broker

Marketsx forex broker

XTB forex broker

Octafx forex broker

However, the best forex broker for one user may not be the best broker for another. It depends on your trading style, what you want to trade and your support needs. Some aspects are general and apply to all brokers, whilst some are more personal depending on your individual trading style , needs or beliefs. Islamic brokers might be preferred for most but not all traders .

Choose a forex broker

Forex broker regulation , however, is in our opinion very important for all trader s when choosing a broker since it is a matter of how safe your investment will be. The best forex brokers in malaysia are of course regulated, and many of them in many different countries by different regulators. Read this article for a definition of the different european financial regulators. Malaysia’s islamic financial sector is governed by the islamic financial services act 2013 which s ets out a framework with the principal regulatory objectives of promoting financial stability and compliance with shariah . Today it is legal to trade forex in malaysia as long as your broker is regulated with one of the major regulatory bodies in the world.

In this section we review various forex brokers , suited for malaysian traders, based on regulation, usability, platforms, minimum deposit, spreads, customer support and many other criteria. Start by browsing our top list of recommended and trust worthy brokers below and continue by reading the individual reviews of each broker on the respective review pages that are linked from the top list. All forex brokers below are legal in malaysia and also accept traders from malaysia . Furthermore all of them offers islamic accounts which will secure that you follow sharia law, and thus forex can be a good thing in islam.

- 20% new member bonus.
- global regulated broker across 5 continents within 6 jurisdictions
- superior trading conditions for short selling/scalping
- ultra low spreads with fast and reliable order execution
- wide range of educational materials
- innovative trading mobile apps (avatradego, avaoptions, avasocial)

Min. Deposit: $100
leverage: EU - up to 30:1, professional client/ROW up to 400:1

- negative balance (you cannot lose more than you deposited).
- 24/7 online support.
- 2000+ instruments.
- 30+ languages.
- all devices.
- 0 commissions.
- tight spreads.

Min. Deposit: $100
leverage: up to 1:300

- well regulated.
- PAMM accounts.
- tight spreads.
- quick withdrawals.
- low min. Deposit.

Min. Deposit: $5
leverage: up to 1:30 for EU (unless pro) / up to 1:1000 for non EU

- beginner friendly
- well established
- leverage up to 1:300

Min. Deposit: $250
leverage: up to 1:300

- 24/5 customer support
- negative balance protection
- more than 1500 instruments
- cryptocurrency trading is available

min. Deposit: $250
pairs offered: 49
leverage: 500:1
withdrawal process time: 24-48 hours
trust score: 92/100

- 50% bonus with every deposit!
- some of the lowest spreads in the industry
- no commissions or swaps
- ultra-fast trades execution
- instant deposits and fast withdrawals

Min. Deposit: $5
leverage: up to 1:500

- 300 plus trading instruments.
- deal cancellation feature.
- fixed spreads.

Min. Deposit: $100
leverage: up to 1:30

- tight spreads
- welcome bonus
- customized IB structure

min. Deposit: $200
pairs offered: 167
leverage: 500:1
withdrawal process time: 1-3 business days
trust score: 90/100

- 1:500 leverage
- multi award-winning new zealand broker
- institutional-grade spreads from 0.0 pips

min. Deposit: $200
pairs offered: 300+
leverage: 1:500
withdrawal process time: within 24hrs
trust score: 90/100

- ASIC & cysec regulations
- trade on consistently tighter spreads from 0.0 pips
- ultra-fast execution under 40 milliseconds^
- top-tier liquidity and market leading ECN pricing 24/7
- no dealing desk and no requotes, ever

Min. Deposit: $100
pairs offered: 65+
leverage: up to 1:500

- enhanced execution and quality pricing.
- award-winning trading platform – trading station web/desktop/mobile
- free access to exclusive trading tools and services: trading signals, trading analytics and more
- more than 20 years of experience in online trading services - leading provider

min. Deposit: £300, $50 for ZA and AU
pairs offered: 50+
leverage: 1:30 (LTD), up to 400:1 FX and 200:1 CFD (ZA/AU/MARKETS)
withdrawal process time: depends on credit card issuer. Bank wire two business days
trust score: 90/100

- excellent proprietary platform
- over 3,000 financial instruments to trade
- transparent trading fees
- great customer support
- access to skilling trade assistant

min. Deposit: £100
pairs offered: 73
leverage: varies
withdrawal process time: 1 working day
trust score: 90/100

- trusted global market leader
- online FX & CFD trading
- 180+ global markets, 84 FX pairs, 65 shares, 17 popular indices and more
- forex, indices, commodities, equities & bitcoin

Min. Deposit: $250
leverage: 1:200

- start trading live with just $200 minimum deposit.
- powerful webtrader and apptrader platforms.
- start trading live in just minutes.
- trading tools and educational resources.
- wide range of share cfds offered.

Min. Deposit: $200
pairs offered: majors, minors, exotics
leverage: 500:1
withdrawal process time: within 12 hours
trust score: 92/100

- regulated by FCA and cysec
- low spreads
- low commissions
- low swaps

min. Deposit: $100
pairs offered: 60+
leverage: up to 1:500
withdrawal process time: 1 working day
trust score: 90/100

- 180+ tradable instruments
- up to 500:1 leverage
- $200 minimum deposits
- 15 trading platforms
- 50 US share cfds and 50 hong kong share cfds available to trade from MT4/MT5

Min. Deposit: $200
leverage: up to 500:1

Islamic accounts

As said the brokers above all offer islamic accounts, but the registration processes differ and sometimes you can open an islamic account immediately and sometimes you have to open a real money trading account that you then can convert to an islamic account. The islamic account will help you abide by the principles of sharia law e.G. To not make interest on positions or taking too much speculation risk under the wrong conditions.

Top 10 tips for picking an FX broker in malaysia

Here we look at ten different factors that we believe are of significant importance when you consider choosing a forex broker in malaysia, whether you are a beginner or advanced trader. The significance of each will differ depending on your needs, which in turn will depend on your trading style, your knowledge level and your type of trading.

1. Regulation and how safe is my money?

You wouldn’t put a large amount of your savings in a bank account if you did not know that the bank was secure and regulated would you? So similarly why would you deposit with an FX broker unless you were confident your funds and profits are safe?
In the UK, this would mean looking for a broker that is regulated by the financial conduct authority (FCA). In the USA, the equivalent would be a broker regulated by the national futures association (NFA) and/or the commodity futures trading commission (CFTC). In malaysia you are fine with a broker regulated by these bodies and others like cysec or ASIC.
Opening an account with a broker regulated by any of the of the above should allow for protection if you as a depositor/ trader have an issue or grievance with the broker. The top list above includes brokers regulated by major regulatory bodies and therefore are both secure and also legal to trade with in malaysia.

2. Spreads and/ or commission

Brokers do not provide their services for nothing, so charge either commission per trade or more likely by the spread between the bid and offer prices. The wider the spread, effectively the more the trader has to pay to get into and out of each trade. So the narrower the spread, effectively the better off for the trader. Sometimes brokers offer fixed spreads, but often the spread will be variable depending on the volatility of the market.

3. Withdrawals and deposits

Most FX brokers today offer very low requirements to open an account (from as little as £50). Brokers have differing policies with regard to depositing, funding and withdrawals. Are you able to fund the account from a bank account via wire transfer, via credit card, via paypal? When withdrawing is this done via wire transfer, back to your bank account or credit card? Are there any withdrawal fees? Initial deposit requirements. Check this out.

4. Rollover interest (credit/ debit)

Some brokers charge a debit (or give a credit) for daily interest. This would be a consideration for any traders thinking of holding open positions over night. Not applicable for islamic accounts, but if you’re not abiding by sharia law this can be a good thing to look into.

5. Margin and leverage

Many FX trading accounts are based on the concept of margin and leverage. Leverage is basically the ability to increase the possible return on an investment or trade. A margin account allows the trader to use leverage by trading larger amounts than deposited in their account. This is because only the potential short term losses on the accounts need to be covered, not the full amount of the underlying asset. How much leverage any forex broker offers and the margin requirements may be a consideration when opening an account with a particular forex broker.

6. Types of forex accounts

There are different types of FX trading accounts which include more traditional cash exchange accounts, spread betting type accounts or cfds (contracts for difference). The choice of which account to open will depend on your very specific needs and potentially even depend on your tax liabilities.

7. What markets can you trade?

All FX brokers in malaysia offer trading in the major currency pairs, including EURUSD, USDJPY, GBPUSD and also USDMYR etc. Most also offer currency cross rates, ability to trade a large selection of currency pairs against each other.
In addition, many brokers offer the opportunity to trade other financial markets and assets. These would include equity indices, government bond markets and commodities (such as oil, gold, copper).

8. Trading platforms supported by the broker

Practically all brokers offer a trading platform, whereby the trader can access the various markets available to trade. Some brokers in malaysia provide their own developed trading platforms, whilst others suggest downloading free platforms offered by third-party providers. There are many different factors to consider when looking at differing trading platforms including; ease of use, accessibility, trading tools on offer, charting packages, mobile/ tablet access etc. Please see our list of best trading platforms in malaysia here.

9. Customer support

Many markets are now open 24 hours a day, five days during the week. So a strong customer support service would be open at all times during this time. Also, the speed of access to a live individual rather than an automated service should certainly be considered. Inevitably, when calling customer service it is usually with an issue, which as a trader you will likely want resolved as soon as possible. Opening hours is especially important when you’re located seven hours ahead of where the brokers accepting traders from malaysia have their headquarters.

10. Demo account available?

Most, but not all, forex brokers offer demo trading accounts to practice on. A demo account allows you to test the trading platform and evaluate some of the above-mentioned factors. All forex brokers useful to traders from malaysia in the top list above will offer demo accounts to new traders.

Best forex brokers in malaysia 2020

We research over 30+ reputed forex brokers & have listed the ones that you can safely trade with lowest fees.

Last updated: october 29, 2020

Trading forex (currencies) in malaysia is popular among residents. Before any fx broker in malysia can accept forex and CFD traders as clients, they must hold a capital markets services license (CMSL) from the securities commission of malaysia (SCM), which is the financial regulatory body in malaysia.

Established in 1993, SCM is malaysia’s financial markets regulatory body. In april 2018, SCM issued guidelines for contracts for difference (CFD) providers including brokers offering derivatives, under the capital markets services act of 2007, which will become effective july 1st 2018. As a result, we expect more regional brokers will register with SCM in order to acquire a CMSL.

List of best forex brokers in malaysia

Exness – overall best forex broker in malaysia

XM broker – good broker with low fees

Hotforex

Octafx

IC markets

FXTM

Best forex brokers list malaysia

To find the best forex broker in malaysia, we created a list of regional brokers, then ranked brokers by both trustworthiness, as well as their overall ranking from the. The result is our top forex brokers list for malaysia.

How to verify SCM authorisation

To identify if a forex broker is regulated by SCM, the first step is to identify the register number from the disclosure text at the bottom of the broker’s malaysia homepage.

Next, look up the firm on the SCM website to validate the current regulatory status of the broker in malaysia. Here is the official page with the public register of license holders on SCM.

It’s also worth noting that bank negara malaysia, which is the central bank of malaysia that regulates money service businesses and forex dealers, issued guidelines for digital currencies (cryptocurrency) requiring companies to comply when dealing with crypto assets.

Best forex brokers in malaysia 2021

With the increasing number of forex brokers on the internet, some traders believe that choosing the best forex broker is a daunting task. Some brokers are small, unregulated and untrustworthy, so if you donвђ™t know how to choose a good broker, you may become a victim and lose your money.

If youвђ™ve never traded in the forex market before, you are highly recommended to find the best forex broker. No firms other than good and trusted brokers should have access to your money and manage your trading career. When you feel confident about your broker, the only thing that remains is focusing on learning how to trade successfully, and that can be accomplished by applying the best trading strategies you can muster.

But how do we go about doing that? The easiest way would be to find forex brokers with a satisfactory customer rating, as it turns out finding the best forex broker is rather easy. All you need to do is to wise up! To that end, keep on learning about the main qualities you should look for in the best forex brokers.

To make it easier for you, below we have listed the best forex brokers in malaysia that meet those qualities and offer the best services to malaysian forex traders!

List of best forex brokers in malaysia

What are the main features and qualities of the best forex brokers?

Рџ‘‰ regulation

it goes without saying that first, you need to find a regulated forex broker; that is to say, a forex broker that is under the direct supervision of a well-established authority such as the UK financial conduct authority (FCA) or cyprus securities and exchanges commission (cysec) whose sole purposes come down to enforcing strict compliance standards, fair dealing practices, and periodic audits. If a broker has a license to operate, they are expected to meet the highest standards and specific capital requirements at all times, and this speaks to their reliability. The truth is many traders have lost their money to unregulated brokers, so you вђ™ d be remiss not to avoid such untrustworthy brokers. Otherwise, you may never see your money again. So, your #1 factor is to trade with a fully regulated forex broker. However, keep in mind that regulation is not the only important factor and there are other factors you should consider too.

Рџ‘‰ quality of services, trading accounts, and trading conditions

to close a profitable trade, you need to consider the quality of trading products and conditions of your broker as it will have an impact on your trading one way or another. One of the most important features that you should pay attention to is the spread. What is the lowest spread (fixed or floating)? The latter depends on the trade execution speed given the broker вђ™ s servers and overall technology in their pricing system. You certainly don вђ™ t want to face delays in the exact moment you want to open or close a trade, right? In addition, you should always choose the type of trading account that fits you and your strategy the best (cent, micro, standard, ECN) along with their specifications such as leverage, minimum trading size, available trading markets (forex, cfds, metals, and energies) and trading platforms. Metatrader 4 is currently the most preferred trading platform and can be accessed via different methods (desktop, mobile, and web) for your convenience.

Рџ‘‰ importance and quality of customer service

Does the broker of your choice offer prompt and reliable support? Can you contact their support department not only via email but also telephone and live chat? Are they available at any given moment since forex is a 24-hour market? Are they capable of answering your questions and addressing your requests politely and professionally? The answers to the above questions should be an emphatic вђ˜ yes. Вђ™ in case you don вђ™ t know, your broker вђ™ s support is of utmost importance to your overall trading experience because when you face a problem or have a request in your trading, you вђ™ ll need the assistance of a professional who can guide you. Some forex brokers provide a dedicated personal manager for your account, so you can reach them directly at any time. Well-established and dedicated forex brokers usually offer multilingual support service including malaysian. It always feels right and comfortable to talk to your broker in your own language, don вђ™ t you think?

Рџ‘‰ popularity and vastness of the broker

characteristics such as being large, well-established and well-capitalized determine whether a forex broker is the best at what it does. Brokers that are regulated by a regulatory authority (such as FCA, cysec, and ASIC) must comply with a minimum capitalization requirement; this is directly related to the broker company вђ™ s size and its ability to stay solvent. The better capitalized the broker is, the more credit relationships they can establish with their liquidity providers, and therefore, the more competitive pricing they can get for themselves as well as their clients. Small and unregulated brokers have low capitalization, and it вђ™ s better to avoid considering them altogether. You should also consider the broker вђ™ s worldwide recognition, brand name, and popularity.

How big is the broker? Where is its headquarters? Do they have local offices? Do they have real human interaction with their clients? What are their industry awards, sponsorships, etc.? Questions like these should be asked and answered. Last but not least, the company вђ™ s transparency is always a good thing in matters such as the number of its employees, management teams and ceos. All of this information will represent the credibility of the broker.

Рџ‘‰ client's funds security

another important factor you should consider is the safety of your funds at your broker. You definitely don вђ™ t want to worry about losing your deposited funds or profits, do you? Now, you should bear in mind that fund safety and account segregation are usually associated with whether or not a broker is regulated. So, the best brokers usually keep their clients вђ™ funds in separate accounts in major banks. Such brokers are usually members of compensation schemes to ensure that your funds are further protected. For example, ICF (investor compensation fund) which is set up by the central bank of cyprus and cysec insures the broker вђ™ s clients вђ™ funds up to 20,000 euros, and FSCS (financial services compensation scheme) which is set up by FCA will pay compensation to the clients up to 85,000 pounds if the broker cannot fulfill their commitments. When you open an account with such a forex broker that is a member of consumer-protection organizations, it makes you feel more confident and gives you peace of mind.

As a final word, choose your forex broker carefully to experience a smooth ride throughout your trading endeavor. Above, we have listed the best forex brokers in malaysia with all the aforementioned qualities that you вђ™ d expect from a trusted forex broker.

Fxdailyreport.Com

The Best and Trusted Forex Brokers in Malaysia

In the past few years, we have seen malaysia developing into an investor-friendly nation. This is all thanks to its growing economy which has seen the country transformed from being merely a raw material exporter to one of the prime and emerging market economies in asia. With this dramatic growth, many local and foreign investors have become open and active in all manner of investment vehicles, including forex trading. Since malaysia is predominantly a muslim nation with at least 60% of its citizens following the islamic laws and associated religious beliefs, this alone makes it one of the prime contenders for an islamic trading account.

Still, there are several facets of forex trading that are against some core islam values. This dictates the need for sharia-compliant FX brokers. Secondly, the malaysian administration has enforced several limitations on trading the malaysian currency – ringgit. Nonetheless, malaysian forex traders can still indulge in this trade, provided they abide by all the nation’s laws that govern forex trading and investment.

Is trading forex in malaysia legal ?

Yes. Initially, the malaysian government had forbidden forex trading, terming it as a criminal activity. If a person was found trading forex, they risked being charged hefty fines and in serious cases, incarceration. However, over the last few years, malaysia has slowly but steadily opened up to FX trading. However, the whole FX trading concept is still in the basic stages of developing.

Are malaysian forex brokers regulated ?

There are various regulatory bodies all over the world that oversee the forex market to ensure that the brokers meet a certain standard. However, in malaysia, as far as the regulatory agency is concerned, it is still undergoing changes and development. So far, there is still a lot of confusion concerning the actual regulatory body for malaysia forex brokers.

The central bank of malaysia, also known as bank negara, manages the ringgit, while the securities commission of malaysia overseas financial companies. Still, there is no particular national agency that is tasked to regulate malaysian forex brokers. This is because the country has not revised its rulebook to include the idea of forex trading into its governance framework.

Top forex brokers that accept malaysian traders

info	bonus	open account
min deposit: $5 spread: from 0.2 pips leverage: 500:1 regulation: FSA (saint vincent and the grenadines), cysec	50% deposit bonus, real contest 1st prize luxury car BMW X5 M, copy trading, trade&win.	Visit broker
min deposit: $1 spread: from 0 pips leverage: 3000:1 regulation: cysec, IFSC	$100 no-deposit bonus, 100% deposit bonus	visit broker
min deposit: $5 spread: from 0 pips leverage: 888:1 “*this leverage does not apply to all the entities of XM group.” regulation: ASIC, cysec, IFSC belize	“50% +20% deposit bonus up to $5,000, loyalty program bonus “*clients registered under the EU regulated entity of the group are not eligible for the bonus and the loyalty program”	visit broker
min deposit: $1 spread: from 0 pips leverage: 2000:1 regulation: FCA UK, cysec, FSP, bafin, CRFIN	35% of the account deposit	visit broker
min deposit: $100 spread: starting 0 pips leverage: up to 400:1 regulation: FCA UK, NFA, CFTC, ASIC, IIROC, FSA, CIMA	visit broker
min deposit: $200 spread: starting 0 pips leverage: 500:1 regulation: ASIC australia, FCA UK	visit broker
min deposit: no minimum deposit spread: 1.2 pips leverage: 50:1 regulation: CFTC, NFA, FCA, MAS, ASIC, IIROC	visit broker
min deposit: $1 spread: fixed spread from 3 pips leverage: up to 1:1000 regulation: CBR, cysec and FFMS	30% forex deposit bonus	visit broker
min deposit: $100 spread: starting from 0.9 pips leverage: 400:1 regulation: MIFID, FSB & ASIC	visit broker
min deposit: $100 spread: starting 0 pip leverage: 500:1 regulation: FCA UK, FSA (seychelles), cysec	visit broker

How to choose a trusted forex broker in malaysia

If you are looking to invest in forex trading in malaysia now, things are looking up. You no longer have to worry about landing in jail. As the popularity of forex trading grows, so does the choice of reliable brokers available. Since malaysia has very hazy regulations when it comes to forex trading, it is crucial that you choose a reliable broker.

The absence of a regulatory body makes choosing a malaysia forex broker risky for investors since there is a substantial amount of potential scams and broker loopholes. Also, there are many companies that have based their forex operations in malaysia to siphon money from unsuspecting traders globally. The lack of a regulatory body also prevents malaysian authorities from overseeing the trading activities of forex brokerage firms, since they are at liberty to establish their headquarters anywhere they want in the country. Hence, the malaysian authorities can only interfere if found isolation of the country’s laws regarding trading forex to its citizens.

There are honest and reliable FX brokers in malaysia who offer trustworthy forex brokerage services that provide a secure trading environment for traders. These brokers are totally void of any criminal or financial malpractices. To find the best forex broker in malaysia, you should be ready to put in some effort to research the numerous malaysia forex brokers available in the market. Understand how they operate and take the time to read reviews left by previous clients or ask people about their experience with them before deciding to invest with them. The bottom line is that you need to choose a broker that guarantees the safety of your money. Here are 5 things you need to check out when choosing the best malaysia forex trader.

Regulation: choosing a regulated forex broker is crucial when trading currencies. Since there is no regulatory body in malaysia, you can opt to use a broker that is regulated by international organizations like those from the UK, US, EU, australia, japan or even singapore. Note that choosing a broker near you gives you an upper hand in terms of receiving support.

Availability of SWAP- free islamic trading accounts: since the majority of the traders in malaysia are islam, the potential broker should be able to offer exclusive SWAP-free accounts, especially if you are malaysian. Hence, if you are a muslim trader, and are looking for a sharia-compliant account, discuss with them about their islamic trading account offering first to confirm that you are okay with it before hiring them.

The speed of payment: as a trader, your main aim is to make consistent profit from all your forex trading ventures. In return, a reliable broker should make sure your profits are available and that you can access them without encountering any restrictions. It might take you a while before you find a forex trading company in malaysia that facilitates easy and secure payments. By choosing a regulated company, you eliminate any worries about the security of your funds.

Performance of their trading platforms and trading products: A trading platform is an important link between you and the markets. Hence, your aim should be to find the best performing trading platforms with consistent reliability and top performance.

Selection of trading accounts: different brokers offer different types of trading accounts, according to the geographical location. Asian and european forex brokers are known to offer smaller trading accounts with lower minimum capital requirements, whereas US brokers have higher trading capital requirements and several restrictions on trading. Your choice of a forex broker should, therefore, be able to offer you an account that meets your trading needs.

As a new player in the malaysian forex trading market, you are advised to take your time to study the market before investing real money in it. A little research when choosing your ideal trading broker will go a long way in protecting your investment.

Malaysia forex brokers

Malaysia is a federal constitutional monarchy in southeast asia with a population of 32.4 million and a gross domestic product of US$354.3 billion for 2018. The country’s economy has undergone a dramatic transformation over the last five decades, from one that relied primarily on exports like tin and rubber to one that is among the fastest-growing in this region.

An attractive investment destination, malaysia appeals to foreign investors with its developed infrastructure, political stability, and undervalued currency, the malaysian ringgit (MYR). The country boasts a thriving financial sector as its government has adopted policies that aim at promoting foreign investments and market competition.

Best forex brokers for united kingdom

The capital kuala lumpur is home to the kuala lumpur commodity exchange (KLCE) and bursa malaysia, the local stock exchange whose main index is the kuala lumpur composite index (KLCI). The KLCI has a market cap of US$397 billion and tracks the performance of thirty large companies, including axiata group berhad, AMMB holdings berhad, and digi.Com berhad.

Malaysia has established a strong trading partnership with other asian countries like south korea, thailand, taiwan, singapore, japan, and china, although it also has a prominent partner in the face of the united states. All these factors have shaped malaysia into an investor-friendly country.

Until recently it was illegal for malaysians to trade on the forex markets. However, due to the immense interest on behalf of residents, the country’s authorities introduced a new set of rules to regulate these activities on a local level. Malaysian retail traders can use the services of brokerage firms as long as they are locally licensed and compliant with the country’s laws.

Malaysia forex legislation

Trading currency pairs is a popular activity among malaysia’s residents. Internationally licensed brokerages can service customers from the country but it is still recommended for them to receive the authorization of the local regulator, the securities commission of malaysia (SCM).

Several pieces of legislation have shaped the financial sector in the country, starting with the exchange control act of 1953. This legislation introduced a set of guidelines on how malaysian residents can trade with commodities like precious metals, foreign currencies, and securities. It also outlines the restrictions applying to such trading activities. Additionally, it regulates the import and export of commodities.

The second important piece of legislation in the country is the 1993 securities commission act, which led to the establishment of the securities commission of malaysia (SCM). This legislation authorizes SCM to issue licenses and supervise companies that deal in securities.

Then there is the 1998 money changing act that all foreign exchange brokers looking to operate on malaysian soil must abide by. This legislation also outlines that the forex trading sector is not regulated by the country’s central financial institution, bank negara malaya (BNM).

To prevent confusion, we should specify that the BNM is tasked with the regulation of the local currency MYR. It also licenses exchange businesses but without regulating the trading activities themselves.

The capital markets and services act consolidated the securities industry act of 1983. It took effect in september 2007. The main idea behind it was to introduce a unified licensing system for capital market intermediaries that deal in securities and derivatives.

The malaysian securities commission introduced new regulatory guidelines in the summer of 2018, aimed particularly at trading with derivatives like the CFD. Under these rules, companies that offer cfds to local traders are required to obtain a license for dealing with derivatives by the SCM.

This move was intended to bring in more international forex and CFD brokers who would seek to obtain licenses from the local regulatory authority. Respectively, licensed CFD brokers must adhere to various financial requirements.

For example, such firms are expected to have at least RM10 million in paid-up capital, which corresponds approximately to US$2.5 million. The companies must also meet the minimum stipulated threshold for adjusted net capital. The latter should exceed the amount of RM500,000, or around US$124,000.

Firms that already are authorized to provide forex trading in the country can offer cfds with their existing licenses as long as they notify the regulator they intend to do so. There is no need for them to apply for a separate derivatives license. Meanwhile, brokerages that want to offer solely CFD trading must comply with slightly different requirements. For instance, they should always have at least 50% of their shareholders’ money as liquid capital.

In line with the regulatory frameworks worldwide, CFD brokers are expected to educate their customers so that they better understand the risks inherent to this financial instrument. All licensed firms should contribute to the regulator’s capital market compensation fund. The latter is intended as a means of recourse in case a broker bankrupts.

This way affected traders will get their funds back. Each company should contribute RM30,000 (US$7,500) to the compensation fund upon receiving its license, but there is also a yearly fee of RM5,000 (around US$1,250). The minimum margin requirements are 20% for non-index shares, 10% for index shares, and 5% for index cfds.

Malaysia financial regulators

There are several entities that oversee the financial sector in the country, starting with bank negara malaysia (BNM). This entity was founded in january 1959 and has its headquarters in the malaysian capital of kuala lumpur. Its chief responsibility is to control all aspects related to the local currency, the malaysian ringgit (MYR).

The ringgit was initially pegged at a fixed exchange rate against the USD as a means to cope with its significant depreciation after the asian financial crisis of 1997. The central bank decided to abandon the peg for a floating exchange rate system in the summer of 2005. The ringgit gradually appreciated in relation to the USD in the years to follow. The central bank is also actively engaged in foreign exchange trading activities within malaysia.

The securities commission of malaysia (SCM) is the primary overseer of forex trading in the country. It was established in 1993 after the enforcement of the securities commission act. The SCM accounts directly to the malaysian ministry of finance and is mandated with the regulation of companies that deal with securities and futures contracts on malaysian soil.

Then there is the shariah advisory council of the BNM, which was founded in may 1997. Its mandate is to ensure compliance with the shariah banking principles. This is necessary since the official religion in the country is islam.

Over 61% of the malaysian population is muslim. Respectively, foreign exchange brokers operating in the country must be shariah-compliant and offer islamic accounts to their local customers. These accounts are swap-free meaning that they are exempt from overnight interest rates in line with the shariah principles.

Malaysia forex payment methods

Nearly all brokers that operate on the malay market offer their customers the option to sign up for demo accounts, topped up with virtual credits they can use to practice and test strategies. In many cases, traders can refill their demo balance as many times as they wish.

For real trading, however, you need to open a live account and deposit funds to its balance. There are several ways to do this but most malaysian traders prefer to use their cards, with visa, maestro, and mastercard being the most broadly available options.

Some malay-friendly brokers also accept unionpay credit/debit cards. Malay traders can apply for one at a branch of public bank berhad or ambank, both of which are authorized to issue unionpay cards. The exact waiting time depositors must endure depends on the particular banks.

When using a card, you must open the deposit page of the broker and select this method from the list of supported options. You then complete the operation by entering your card’s number, its expiry date, your name, and the CVC number, i.E. The last three digits printed on the signature strip at the back of the card.

Of course, you should also specify what amount you wish to transfer to your balance before you complete the payment. Card deposits are great in that they are typically conducted instantly although the operation may require one or two working days in some instances. Make sure the sum you transfer meets the minimum and maximum deposit requirements of your malay brokerage.

The bank transfer is another method preferred by traders from this market, accounting for nearly half of all online payments in the country. There are two ways to complete a bank transfer – you can either do it in person at a branch of your bank or from the comfort of your surroundings by logging into your online banking account. Online bank transfers are supported by most banks in malaysia, including bank negara, ambank, public bank berhad, and maybank2u.

E-wallets are another broadly offered payment option for malay traders who refer to them as “dompet digital”. Most forex brokers work with neteller, paypal, and skrill. Some also support perfect money whose platform is available in malaysian.

When using this method, payers are redirected to the system of their chosen e-wallet which allows for instant and anonymous money transfers. All four e-wallets are usually supported for withdrawals as well. Fasapay is another suitable payment option for traders from malaysia, albeit a less common one.

Popular trading software in malaysia

After you have determined which brokerages service clients from malaysia, you need to check what trading platforms they implement. The software a broker relies on is essential for the trading experience it provides to its customers. The simpler the interface, the better, especially if you are new to forex trading. An overly complicated platform may lead to trading mistakes which would ultimately cost you.

Another thing you should check is compatibility since some platforms may not work on the operating system you are using. Your broker of choice should also give you the option to trade on the go, so make sure their software is mobile-friendly.

Most brokers on the malaysian market seem to prefer the metatrader 4 platform, developed by metaquotes, because it is the easiest to work with. It has a very user-friendly layout along with various advanced analysis tools and a practical chart station with three types of charts – bars, candlesticks, and lines. Additionally, traders can install it on any desktop computer that uses the linux, microsoft windows or mac operating systems.

MT4 is the favorite of many malay traders who explore the forex markets. However, those who want access to a more versatile selection of financial instruments should go for a brokerage that implements the metatrader 5 platform since it also supports options, bonds, stocks, and futures. Either platform has its version of webtrader, which is browser-based and does away with the necessity of downloading additional software.

Mobile trading in malaysia

In an era when smartphones have become an inseparable part of people’s day-to-day lives, forex brokers are aiming to compete with each other by facilitating the optimal trading experience on the go. Malaysians are very keen on mobile technologies as well.

In 2015, there were over 14 million smartphone users in the country, which corresponded to around 48% of the population at the time. This number is expected to jump to over 20 million people in 2020. Having said that, the country’s 4G connection is far from impressive speed-wise at 14.83 mbps on average.

Brokers servicing the malay market normally offer native apps that are compatible with android and ios. The metaquotes platforms metatrader 4 and metatrader 5 have also been optimized for trading on the fly, giving traders instant access to the full functionalities of the desktop versions.

Smartphone and tablet users can download the applications either directly from the websites of the brokerages or the mobile content platforms google play and the app store. Traders can keep themselves informed when they are away from their desktop computers since the apps feature real-time quotes for the forex markets.

There are also different types of trade orders, detailed trading histories, and the option to open positions from charts. The mobile version of MT4, in particular, can also display four charts within a single window on ipads. Best of all, malay is supported to the benefit of non-english-speaking users from the country.

So, let's see, what we have: do you live in malaysia? Here's our top 9 featuring the best brokers in malaysia with tips about how to choose the best one! At forex broker malaysia