What You Need to Know About Forex Trading in Malaysia

Malaysia is a local market with significant economic potential for forex brokers, as evidenced by numerous established operations there. Nonetheless, because only a small number of them provide customer service or have websites translated into Malay, you may need to be fluent in English to have a more excellent range of brokers to work with.Merchants in Malaysia are likely familiar with the Malaysian ringgit (MYR), which acts as the country’s official currency. According to the Bank for International Settlements (BIS), the ringgit accounts for around 0.4 percent of daily currency market activity and was ranked 25th among the most regularly traded currencies in 2016.As well as providing adequate financial regulatory monitoring, Malaysia is home to the Securities Commission Malaysia (SCM), which was created in 1993 under the Securities Commission Act. Even though forex products are not fully regulated, the SCM handles futures and exchange-traded derivatives (ETPs).The Securities and Commodities Commission of Malaysia (SCM) regulates how brokers operate in Malaysia, while the National Bank of Malaysia (Bank Negara) maintains the value of the Malaysian ringgit. Bank Negara has committed to fostering a financially secure, sound, and progressive financial system.Furthermore, because Islam is Malaysia’s national religion, traders of the Islamic faith may find Malaysia to be an especially favorable location to create Islamic swap-free trading accounts that are compliant with Sharia law. Malaysia’s thriving financial services sector is particularly well-suited to providing Islamic investment products and Islamic accounts to customers. The Islamic Financial Services Act (2013), on the other hand, mandates that such services be compliant with Sharia law.

Before you open a forex account, consider the following:

For this reason, you must be sure before creating a forex account that the broker is secure and provides the services you demand. Not all online brokers are created equal. We’ll go through some of the most frequent factors to examine when choosing a trade partner in the following bullet points.


The safety of your margin funds should be your top concern when selecting a broker. Ensure that the broker you choose is appropriately regulated, with at least one respected regulatory agency monitoring its activities and segregating customer accounts from its own.

Regulatory organizations such as the National Futures Association (NFA) and the Commodity Futures Trading Commission (CFTC) in the United States, or the Financial Conduct Authority in the United Kingdom, often monitor overseas brokers accepting Malaysian clients (FCA).

Broker Type

Online brokers often serve as either market makers or ECN brokers, depending on the type of service they provide. ECN brokers pass on the best price of selecting market makers who utilize their electronic communications network, while market makers take the other side of your transactions.

Because of the tighter variable spreads offered by ECN brokers, they charge a commission for each transaction. In contrast, market makers provide broader fixed spreads, but there is no commission fee.

Dealing with Spreads and Fees

The dealing or bid/offer spread refers to the difference between a broker’s quotation’s bid and offer prices. A trader actively trading wants to maintain spreads and commissions as low as possible, whereas a less active trader may be less concerned about these issues altogether.

Platform for Trading

A few things to look for when looking for a broker: a configurable interface, the analysis tools you need, and compatibility across all of these platforms.

MetaTrader 4 and 5 trading platforms developed by MetaQuotes offer complete technical analysis functionality and numerous helpful trading tools, including a wide range of third-party expert advisors (EAs) and custom indicator software that you can use or purchase, are supported by virtually all of the best online forex brokers. The cTrader, NinjaTrader, proprietary platforms of the brokers themselves, and social copy trading platforms such as ZuluTrade are all options for traders.

Providing top-notch customer support

Trading beginners know how critical it is to access their broker’s customer care team as soon as something goes wrong. Information on how to utilize the broker’s trading platforms will be helpful to traders who are new to the broker’s services.

Investigative and Analytical Materials; Educational Materials

For traders with less expertise, these textual and visual tools might be pretty helpful. Even more, experienced traders may value having access to a professional news feed and market analysis.

Malaysia’s Top Forex Brokers

Select one of those regulated brokers listed below to deal with the finest online brokerage for Malaysian forex traders. Some of them even have Malaysian offices and a Malay website.

Generally speaking, renowned foreign brokers with a Malaysian presence are the best choice. Local representation frequently pushes brokers to conduct more responsibly because of the increased danger of regulatory and other legal action being taken against them in Malaysia if customers complain.

  1. XM

In addition to providing access to the market and the ability to trade more than 100 financial products, XM XM is a reputable online broker with excellent service and reliable support. XM provides its clients with access to several renowned trading platforms. It makes Metatrader 4 available to you as your primary trading platform. BestIslamic Forex broker in Malaysia

The lowest deposit amount is $5, and the maximum leverage may be as high as 1:888, depending on your level of experience and the country from where you are gambling. The organization assures a high level of speed in the execution of orders, and it has stated that 99.35 percent of transactions are completed in less than one second on average. XM is a new organization that offers exceptional working circumstances as well as incredible perks.

Regulatory Authority: CySEC, FCA, ASIC

Minimum Deposit: $5

Minimum Lot Size: 0.01 lot

Spreads: Variable

Trading Platform: MT4, MT5, XM WebTrader

Established: Cyprus

  • HotForex

With its headquarters in Mauritius, Hotforex is aMalaysia Forex broker established in 2010 and provides a unique trading experience by allowing traders to exchange with a variety of trading platforms by the merchant and a variety of accounts types.

Malaysia’s most influential trading platform

Regulatory Authority: CySEC, FCA, DFSA, FSCA

Minimum Deposit: $5

Minimum Lot Size: 0.01 lot

Maximum Leverage: 1:1000

Spreads: Variable

Trading Platform: MT4, MT5

Established: Mauritius

  • Easy Markets

Accessible Markets is a forex broker that provides traders with the opportunity to trade a wide range of currency pairs, commodities, and other trading instruments at competitive spreads.

CFD trading Malaysia

Known to be the first to provide an online trading platform, it offers these clients a web-based and easy-to-use trading platform and provides MT4 as a trading platform available on the desktop and mobile.

Regulatory Authority: CySEC, ASIC

Minimum Deposit: $25

Maximum Leverage: 1:400

Spreads: Fixed

Minimum Lot Size: 0.01 lot

Trading Platform: MT4, WebTrader, Mobile App

Established: Cyprus

Exness is an online forex broker that has been around for a long time in the trading market. As an award-winning broker, exness provides stable and dependable discouraging services in a comfortable trading environment tailored to meet the needs of the most demanding traders. Exness offers tight spreads and no hidden commissions, and the Financial Conduct Authority regulates it. They provide forex trading in Malaysia using the MT4 and MT5 trading platforms, which are extensively used in the industry and are well-known for delivering rapid and reliable executions.

Regulatory Authority: Cysec

Minimum Deposit: $1

Minimum Lot Size: –

Spreads: Variable

Maximum Leverage: 1:1000

Trading Platform: MT4, MT5

Established: Cyprus

  • FXTM

FXTM provides online trading services, allowing clients to trade more than 60 currency pairs, indices, CFDs, and spot metals, as well as more than 180 equities CFDs, according to the company’s website and embracing a distinct vision for the future to provide excellent trading conditions, specialized education, and cutting-edge trading equipment. It uses both the MT4 and the MT5 trading platforms, which provides for rapid and straightforward execution. The leverage impact is one-to-one thousand and provides modest spreads dependent on the size of your trading account.

Regulatory Authority: CySEC, FCA, IFSC, FSCA

Minimum Deposit: $5

Maximum Leverage: 1:1000

Maximum Leverage: 1:1000

Minimum Lot Size: 0.01 lot


Trading Platform: MT4, MT5

Established: Cyprus

  • OctaFX

In the forex trading market, OctaFX is a well-known forex broker. Founded in 2011, the company provides trading services in more than 100 countries. The presence of a forex firm will enhance your forex trading

experience. Malaysia’s most reputable forex broker

The satisfaction and trust of requirements and customer needs are the company’s top priorities. They provide three different types of trading accounts, using the Metatrader 4 trading platform, with a leverage effect of 1:500 and low spreads.

Regulatory Authority: Offshore License

Minimum Deposit: $5

Minimum Lot Size:

Maximum Leverage: 1:500

Spreads: Variable

Trading Platform: MT4, MT5, cTrader Established: Saint Vincent and the Grenadines