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The post Best Forex Brokers in Malaysia by Anna Yen appeared first on Benzinga. Visit Benzinga to get more great content like this.
Forex trading has the potential to be profitable, but selecting a reputable and well-regulated broker is crucial for a smooth trading experience. Since each broker has its own strengths and weaknesses, traders must conduct thorough research before making a choice. With careful consideration, Malaysian forex traders can find a top-rated broker that aligns with their needs.
While many internationally regulated forex brokers accept Malaysian clients, those holding a Capital Markets Services License (CMSL) from the Securities Commission of Malaysia (SCM) offer an added layer of security and trust.
This article will compare some of the best brokers available, helping traders make an informed decision by evaluating key factors such as regulatory compliance, trading platforms, customer service, and pricing.
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Best Malaysia Forex Brokers
Here are some of the top forex brokers in Malaysia, carefully selected based on their regulatory status, trading platforms, customer support and overall reliability. Let’s take a closer look at each broker and what they have to offer.
Best for CFD Traders: Vantage Markets
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Established in 2009, Vantage is a CFD broker with over 15 years in the industry and is trusted by 5,000,000+ traders. Vantage Markets is an excellent choice for both beginner and seasoned traders, offering features tailored to diverse needs. With a low $50 minimum deposit, no account maintenance fees, and access to over 1,000 tradable instruments, it appeals to those seeking affordability and variety. Advanced tools like MetaTrader 4 and 5, TradingView, and proprietary platforms cater to professional traders, while copy trading and educational resources support beginners. Negative balance protection and segregated accounts ensure enhanced security.
Best For
- Professional investors in need of an all-in-one broker
- Those who are keen to learn more with free trading education resources
- Intermediate and advanced traders with a small amount of capital
- Spreads from 0.0 pips on FX, no overnight fees, and $0 commission on US shares
- 1,000+ CFDs on forex, indices, commodities, shares, ETFs, and bonds to diversify your portfolio
- Leverage options vary from 100:1 to 1000:1, tailored to the regulatory requirements of each region
- Trade like professionals at a low cost with our copy trading tool
- One-click trading, comprehensive TradingView charts, expert market analysis, and real-time price alerts all within the same platform
- Free articles, interactive courses, educational videos, podcasts, and webinars, covering everything from how the markets work, to complex technical strategies
- Real-time market analysis and insights
- Intuitive mobile app with extensive functionality
- Negative balance protection
- 24/7 customer service is ideal for international account holders
- Convenient and seamless deposit and withdrawal process
- ASIC, FSCA, the FCS and VFSC regulations
- Funds withdrawal: 2-5 business days
- Promotional Campaign: Gain an extra 50% on your deposit or up to 100% when you make your first-time deposit to a Perpetual Account
- Product range could be increased
Overview: Vantage Markets, established in 2009, is a trading platform offering access to over 1,000 trading instruments, including forex, commodities, indices, ETFs and bonds. Vantage provides multiple trading platforms, including MetaTrader 4, MetaTrader 5, and its proprietary Vantage App.
Why We Picked It: Vantage Markets provides flexible leverage options up to 1000:1 and low minimum deposits starting at $50. Additionally, Vantage supports advanced trading tools and platforms, including MetaTrader 4 and 5, as well as social trading platforms like MyFXBook and DupliTrade. The platform also emphasizes security and trust, being regulated by multiple reputable authorities and offering segregated client funds and negative balance protection.
Best for MT4 Traders: Axi
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Founded in 2007, AxiCorp has grown from a two-person startup to an industry-leading online trading company, trusted by thousands of traders worldwide.
Axi is a fully digital and user-friendly global award-winning broker offering CFD trading on the popular MetaTrader4 (MT4) platform. It provides clients with extensive trading education for different levels and experiences, as well as smart automated trading solutions that include PAMM accounts and a Copy Trading app. On the Axi blog, you can access free market news, trading guides, price prediction articles and other useful resources that can help you build your trading skills and understand the markets better.
Talented Axi traders who wish to become professionals can receive funding through the Axi Select capital allocation programme.
You can open a Live trading account at Axi with a minimum deposit of $500. Axi also offers a free demo account that allows you to hone your skills and trade risk-free with $50,000 USD in virtual currency.
Best For
- Derivatives traders who use MT4
- Copy Trading
- Automated trading
- Traders looking for funding
- Competitive spreads with fast execution speed
- Copy trading to learn from professional traders
- Autochartist integration and advanced analytics driven by AI and ML
- Trading Central and user-friendly MetaTrader 4 platform
- Economic calendar with country and category filters for news of economic affairs and economic indicators from across the globe
- Axi Select capital allocation program offering funding up to $1 million USD
- No deposit or withdrawal fees
- Doesn’t accept U.S. traders
- Web trading platform could use some work
- $10 per month after 12 months of inactivity
Overview: Axi, established in 2007, offers access to over 220 financial instruments, including forex, commodities, indices and cryptocurrencies. Axi utilizes the MetaTrader 4 (MT4) platform, enhanced with tools like Autochartist and PsyQuation, catering to both begginer and experienced traders.
Why We Picked It: Axi is a top pick due to its competitive trading conditions, offering raw spreads starting from 0.0 pips and leverage up to 1:500 for international clients. The platform imposes no minimum deposit requirement, and provides a range of account types, including Standard, Pro and Elite. The integration of advanced tools like Autochartist and the AI-powered PsyQuation analytics platform enhances trading efficiency and decision-making. Additionally, Axi’s commitment to client fund security is evident through features like negative balance protection and segregated client accounts.
Best for Multi-Asset FX Access & Crypto/Fiat Funding: PrimeXBT
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PrimeXBT, founded in 2018 and opened in 2019, is a multi-asset brokerage that features up to 100 times leveraged trading on the most popular cryptocurrencies and stock indices, and up to 1,000 times leverage on forex pairs and commodities. The experience is broken down between dynamic crypto futures trading and CFDs for traditional assets. The brokerage also charges dynamic fees that decrease to as low as 0.001% as your balance grows.
The platform features a few trading products to serve all of your needs, including the flagship PrimeXBT crypto futures platform, which offers comprehensive trading tools, an educational platform called PrimeXBT Trading Academy, weekly trading competitions, and the Covesting copy trading module, which allows you to copy strategies and invest alongside other experienced traders of your choice. All trading aspects of the trading platform feature a modern and sleek customizable user interface.
PrimeXBT requires KYC in the same way as other brokerages do. The platform boasts a plethora of safety features to ensure the security of your funds and account. Some features include 2FA, manual withdrawal clearance, crypto address whitelisting and cold storage of digital assets.
Best For
- Traders who are looking to maximize their profits
- Active traders
- Traders of any level
- Traders who prefer anonymity
- Traders who want to diversify their portfolios across different asset type
- Traders who want good customer support — 24/7 live chat feature in 16 languages
- Multi-asset platform (forex, crypto, indices, commodities, share CFDs) under one account (Crypto Futures, PXTrader, MT5)
- FSCA-authorized entity in South Africa (FSP 45697), plus additional global licenses
- 0% commissions on CFDs (spread-only) with competitive, variable spreads
- High leverage options (up to 1:2000 on MT5 forex; up to 1:500 on Crypto Futures) — for experienced traders
- TradingView-powered charts and advanced technical analysis; interface customization and alerts
- Flexible funding and settlement in fiat or crypto (USD, USDT, USDC, BTC, ETH) with broad payment rails
- Free demo account, weekly trading contests, and a Rewards Center with bonuses/cashback
- Native mobile apps (iOS/Android) with full trading, funding, and account management
- Not available to clients in the U.S. or Canada; additional regional restrictions apply
- Variable product/payment availability by jurisdiction; some features may be limited locally
- Leverage and derivatives carry high risk (financing every 8 hours on futures; overnight fees on CFDs)
- Spreads are not fixed and can widen during volatility/liquidity gaps
- Crypto withdrawals incur network fees; higher withdrawal limits typically require account verification
PrimeXBT lets Malaysian traders access 90+ forex pairs plus CFDs on indices, commodities, shares, and Crypto Futures from a single account. Platforms include a fast web trader, PXTrader, and MetaTrader 5 (EAs supported) with TradingView-powered charting. You can deposit and settle in BTC, ETH, USDT, USDC, or USD, with a free demo to test strategies. Availability/features vary by region; CFDs aren’t available to U.S. residents.
Fees: CFDs on PXTrader/MT5: 0% commission (spread only). Crypto Futures: maker from ~0.01% / taker ~0.045%.
Why we picked it: Flexible crypto/fiat funding, MT5 support, and broad market coverage make PrimeXBT a practical pick for Malaysia-based traders who want multi-asset access without juggling multiple broker accounts.
Best for Multiple-Asset Traders Using MT4/MT5: Tickmill
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Tickmill is an award-winning, multi-regulated investment firm offering trading in a plethora of asset classes including, CFDs in forex, precious metals, indices, stocks, commodities, cryptocurrencies and bonds.
USD base rate is 2.25%, GBP is 2.00% and EUR is 2.00%.
Apart from offering various platforms, Tickmill caters to traders of all levels by providing competitive pricing, leverage up to 1:500 depending on the entity and client classification, dedicated support, exclusive market analysis and a wide array of trading tools and education. This low-spread broker offers fast execution, several payment methods and no restrictions on trading strategies such as hedging or scalping.
Futures and Options are offered with Direct Market Access across multiple globally regulated Futures exchanges including CME, CBOT, NYMEX, COMEX, EUREX, ICE Futures Europe and more. Real Futures include Stocks, Indices, Forex, Metals, Cryptos and Energies like the Micro E-Mini S&P 500, Micro E-Mini Nasdaq 100 and Micro Bitcoin Futures.
Future and Options are offered with probably the lowest fees and transparent commission structures in the industry, ultra-low latency, and seamless trading solutions for high volume trading with reliable, flawless order routing underpinned by advanced technologies.
Tickmill has become a trusted market-leading broker because of its commitment to seeking regulations in several jurisdictions. Traders have access to forex, stocks, commodities, cryptocurrency and bond markets as well as Futures and Options.
Free educational content and advanced tools are available for novice and experienced traders to help them enhance their trading strategies and achieve their trading goals.
The 20+ awards received are a testament to Tickmill’s commitment to providing optimal trading conditions for retail and institutional clients. Besides offering low spreads and fast execution, Tickmill ensures no trading restrictions, access to CFDs and occasionally runs campaigns (under Tickmill Ltd) to reward traders for their loyalty and activities.
Best For
- Forex, stocks, commodities, precious metals, bonds and crypto with competitive conditions
- Futures & Options trading with probably the lowest fees in the industry
- Retail and institutional clients
- Traders seeking various platforms and accounts
- Beginners wanting free trading tools and educational material
- Traders incorporating advanced tools and algorithm systems
- Strongly regulated broker
- Swap-free accounts available
- Enables access to various markets and asset classes
- Fast execution speed in milliseconds
- Crypto trading available 24/7 with 0 Commissions, 0 Swaps
- Deposits and withdrawals in BTC, ETH and USDT
- Free educational content
- Negative balance protection
- Mobile app available for account management
- User-friendly client area
- Free demo accounts
- Regulators: Seychelles Financial Services Authority (FSA), Financial Conduct Authority (FCA), DFSA UAE, Cyprus Securities and Exchange Commission (CySEC), Financial Sector Conduct Authority (FSCA),
- Live chat is unavailable on weekends
- Simple news feeds available
Overview: Tickmill is a highly regarded, multi-regulated investment firm offering a broad range of trading options, including CFDs in forex, precious metals, indices, stocks, commodities, cryptocurrencies, and bonds. The broker provides competitive pricing, leverage up to 1:500 (depending on the entity and client classification), and access to various trading platforms. Traders benefit from fast execution, multiple payment options, and no restrictions on strategies like hedging or scalping. Additionally, Tickmill enhances the trading experience with dedicated support, exclusive market analysis, and a comprehensive suite of educational resources and trading tools.
Why We Picked It: With some of the lowest fees and a clear, fair commission structure, Tickmill makes high-volume trading smooth and hassle-free. Backed by strong regulations and over 20 industry awards, it has built a solid reputation as a broker traders can trust. Plus, Tickmill goes the extra mile with free educational content, helpful tools, and occasional reward campaigns—giving both new and experienced traders the support they need to sharpen their skills and reach their financial goals.
Best for Platform Trading Variety: IFC Markets
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Founded in 2006, IFC Markets is a popular forex and contracts for difference (CFD) broker that provides high-quality trading services to over 300,000 clients from more than 139 countries. IFC Markets offers a versatile trading environment that caters to traders of all skill levels. With a low minimum deposit of $1 for some account types, it provides accessible entry points for beginners. The broker supports multiple platforms, including MetaTrader 4, MetaTrader 5, and its proprietary NetTradeX, which allows for the creation of custom synthetic instruments through the Portfolio Quoting Method. Traders have access to over 650 financial instruments across various asset classes, including forex, commodities, indices, stocks, and cryptocurrencies. Additionally, IFC Markets offers commission-free trading with spreads starting from 0.4 pips and leverage up to 1:400, appealing to those seeking flexible trading conditions.
However, it’s important to note that IFC Markets is regulated by authorities such as the British Virgin Islands Financial Services Commission (BVI FSC), the Labuan Financial Services Authority (LFSA), and the Financial Sector Conduct Authority (FSCA) in South Africa . These are considered lower-tier regulators compared to top-tier bodies like the UK’s Financial Conduct Authority (FCA) or Australia’s Securities and Investments Commission (ASIC). This may raise concerns for traders who prioritize stringent regulatory oversight. While the broker offers a broad range of instruments and innovative features, potential clients should weigh these benefits against the regulatory framework and consider their own risk tolerance.
Best For
- Traders who want to create their own trading instruments
- Intraday and mid-term traders
- Small volume traders
- Trading platforms variety
- Traders in Canada and global markets
- The GeWorko Portfolio Quoting Method lets you create synthetic assets
- 19 years experience in the business
- Highly rated by clients with 28 recent international awards
- Insured by Hamilton Group Syndicate 4000
- Competitive commission-free trading cost structure
- 650+ tradable assets
- Licensed by 3 Regulators (South Africa, BVI, Labuan – Malaysia)
- ECN Accounts from 0.0 pip spread
- Not available to traders in the U.S., Japan and Russia
- ECN Accounts are available only on MT5 and for Canadian clients
Overview: IFC Markets, established in 2006, offers access to over 650 financial instruments, including forex, commodities, indices, stocks and crypto. Traders can utilize multiple platforms, including MetaTrader 4, MetaTrader 5, and IFC Markets’ proprietary NetTradeX, available on desktop and mobile devices.
Why We Picked It: IFC Markets provides competitive trading conditions, with fixed spreads starting from 1.8 pips and floating spreads from 0.4 pips. IFC Markets supports multiple trading tools and platforms, including the proprietary NetTradeX, which offers unique features like the Portfolio Quoting Method, enabling traders to create their own synthetic instruments. The platform also emphasizes security and trust, being regulated by multiple authorities and offering Professional Indemnity Insurance from Hamilton Group’s Syndicate 4000.
Best for Beginners: FOREX.com
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The products and services available to you will depend on your country of residence and the FOREX.com entity that holds your account, as well as any as well as any applicable regulatory guidelines. To verify the availability of any products or features within your country of residence, please contact the broker directly
FOREX.com is a highly trusted global broker for forex and CFD traders. With a massive range of tradable currencies, low account minimums and an impressive trading platform, FOREX.com is an excellent choice for traders searching for a home base for their currency trading. New traders and seasoned veterans alike will love FOREX.com’s extensive education and research center that provides free, informative forex trading courses at multiple skill levels.
FOREX.com is regulated by Commodity Futures Trading Commission (CFTC) and member of the National Futures Association (NFA) in the U.S. They also are regulated by the Financial Conduct Authority (FCA) in the UK among other regulators including CIRO, ASIC and more.
Best For
- Beginner forex traders
- Active forex traders
- Impressive, easy-to-navigate platform
- Up to 30:1 leverage
- Access to 80+ FX pairs and 80+ technical indicators
- Trade to your full capability with the mobile app with quality execution with one-swipe trading, advanced TradingView charting and analysis tools, real-time trade & order alerts and full account management features
- Exclusive trading tools including Trading Central, TradingView, Smart Signals and Performance Analytics
- EUR/USD spread as little as 0.0 and low commissions
- 30 indicators for technical analysis, nine timeframes and graphical objects such as Line Studies and Shapes on MT4
- Various tradable asset classes including forex, shares CFDs, crypto CFDs, commodities and indices
- No negative balance protection
- $15 per month inactivity fee after no trading activity for 12 months
Overview: FOREX.com offers access to forex, stocks, metals, commodities and crypto trading. As part of StoneX Group Inc. (a Fortune 100 and Nasdaq-listed company), it ensures high security and trust through top-tier banks, strict regulatory compliance, and segregated client funds. The platform provides competitive trading conditions with RAW pricing, offering EUR/USD spreads as low as 0.01 and leverage up to 400:1. With over 80 forex pairs, 15+ world indices, 5,500+ global stocks and commodities. FOREX.com supports both spot and futures trading, including four major cryptocurrencies such as BTC, BCH, LTC, and XRP.
Why We Picked It: FOREX.com offers a range of powerful trading platforms, including Web Trader, MetaTrader 4 (MT4), MetaTrader 5 (MT5), TradingView, and a mobile app, which ensures seamless access for traders of all levels. Advanced trading tools such as SMART Signals and Performance Analytics help refine strategies, while VPS hosting supports high-frequency trading. Multiple account types, including Direct Market Access (DMA), cater to different trading needs. They offer a low minimum deposit of $100 and funding options like debit/credit cards and bank transfers. The platform also features the Activetrader program, providing cash rebates, a dedicated relationship manager, and VIP perks.
How to Choose a Forex Broker in Malaysia
Since not all online brokers are equal, the most important thing to be confident about before opening a forex account is that the broker is secure and offers the services you require. The bullet points below describe the more common considerations you’ll want to review before you select a broker as a trading partner.
Regulation
The primary consideration when choosing a broker should be the security of your funds deposited as margin. Select a well-regulated broker with at least one reputable regulatory body overseeing its operations and that segregates client accounts from its own.
Most foreign brokers accepting clients from Malaysia will be overseen by one or more good regulatory agencies, such as the National Futures Association (NFA) and the Commodity Futures Trading Commission (CFTC) in the United States or the U.K.’s Financial Conduct Authority (FCA).
Broker Type
Online brokers will typically act either as market makers or as electronic communications network (ECN) brokers. Market makers take the other side of your trades, while ECN brokers pass on the best price of a selection of market makers who use its electronic communications network.
ECN brokers typically show narrower variable spreads but may charge a per-trade commission, while market makers often have wider fixed spreads but no commission.
Dealing Spreads and Commissions
The difference between the bid price and the offer price in a broker’s quotation is known as the dealing or bid/offer spread. Since spreads and commissions add a cost to trading, active traders will want to keep them down as low as possible, while less active traders typically seem less sensitive to such considerations.
Trading Platform
Ideally, you want to find a broker that offers trading software with a customizable interface and that has the analysis features you require, as well as runs on the desktop, mobile or web platform you prefer.
Virtually all of the best online forex brokers will support using the popular MetaTrader 4 and 5 trading platforms developed by MetaQuotes that offer a complete technical analysis functionality with numerous valuable trading tools, including a wide range of third-party expert advisors (EAs) and custom indicator software that you can use or purchase. Some brokers also offer access via cTrader, NinjaTrader, their own proprietary platforms and social copy trading platforms like ZuluTrade.
Customer Service
Most traders, especially those with less experience, know the importance of being able to communicate promptly with their broker’s customer support staff in case errors or issues arise. Traders new to the broker can also appreciate the material on how to use their trading platforms.
Research, Analysis and Educational Materials
These written and visual aids can be a major plus for traders with less experience. Even more advanced traders may appreciate having access to a high-quality news feed and market analysis performed by professionals.
Understanding Trading Forex in Malaysia
Forex trading in Malaysia allows traders to buy and sell foreign currencies in the Malaysian currency, the ringgit. Traders must first open a trading account with a broker to begin trading in the forex market. Once the account is opened, traders can buy and sell currencies, taking advantage of the differences in exchange rates.
Forex brokers are establishing their presence in Malaysia as local demand has been increasing. The Malaysian ringgit, the local currency, was formerly pegged to the U.S. dollar. But in 2005, the Central Bank of Malaysia ended the peg. The currency is now a managed floating currency monitored against a currency basket to make sure the exchange rate remains close to fair value to help maintain the stability of the ringgit exchange rate.
Malaysian residents can confidently trade forex knowing that brokers there are regulated by the Securities Commission Malaysia (SCM). Islam is Malaysia’s official religion, and forex brokers operating in the county offer products that comply with Sharia law. Regular forex account products charge or pay interest on funds deposited in the account, contrary to Islam’s tenets.
Generally, trading practices that contain elements of interest or high-risk speculation are prohibited in Islam. As a result, brokers operating in Malaysia design trading account products that exclude loans, margin trading and short sales.
Trade Forex in Malaysia
Forex trading in Malaysia is slightly different from other countries because of the country’s unique regulations and restrictions. The Malaysian population is primarily Muslim, and the country’s official religion is Islam. Therefore, FX brokers operating in Malaysia have adapted their products to comply with Islamic sharia laws, which strictly forbid interest on deposits and risky speculations.
The brokers listed here offer the best trading account options in Malaysia with products and features considered Halal (permissible). However, forex trading can be risky, and you should do thorough research before selecting the right forex broker in Malaysia.
Frequently Asked Questions
Is it legal to trade forex in Malaysia?
Forex trading is legal in Malaysia, provided it is done through an approved financial institution and with a registered broker.
Do forex traders pay tax in Malaysia?
Yes, forex traders in Malaysia are required to pay taxes on their profits.
Where can I find an honest forex trader in Malaysia?
You can find a good forex trader in Malaysia by using the list offered above.
The post Best Forex Brokers in Malaysia by Anna Yen appeared first on Benzinga. Visit Benzinga to get more great content like this.
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