Malaysia has two financial services regulatory bodies. These are the Labuan Financial Services Authority (LFSA) and the Securities Commission Malaysia (SCM).
Whilst these do regulate some forex brokers locally, the majority of forex brokers operating in Malaysia, and for the benefit of Malaysian traders, hold International rather than local regulation. This is acceptable.
International Trading Strength Brings Choice, But How Do You Choose The Best Forex Broker in Malaysia？
You will find that Malaysia is a great International hub for trading, with many different forex brokers operating in the Country, being an advantage for choice. It does however make the decision for finding the most trusted, or best forex broker in Malaysia that little more difficult.
This article will help you with that choice. You have found a single place for understanding the best, and most trusted forex broker in Malaysia. The team has added their favourite brokers not just for forex, but also a separate section that helps those looking for a stock broker in Malaysia.
Regulation From Tier 1 Agencies Help Create The Best Most Trusted Malaysia Forex Broker List
As briefly highlighted above, due to the International nature of most forex brokers, not all of the best forex brokers in Malaysia below will have direct LFSA or SCM regulation.
A forex broker that is able to show Tier 1 regulation from trusted agencies, along with an ability to safely onboard traders from Malaysia, will not be excluded. The most important thing is that the forex broker has a long history as a trusted broker in Malaysia.
What we will consider as an advantage for best forex broker Malaysia is the ability to onboard traders, and provide customer support in both Malay as well as English. If a forex broker has a local office in Malaysia, that will also be something we are using as a rating point.
The Best Forex Brokers Malaysia Revealed – Our Most Trusted
1. Tickmill – A forex broker you can trust in Malaysia
Tickmill are a forex broker with heaps to offer when considering who is the best forex broker in Malaysia. To start with, there is local LFSA regulation and offices to show their commitment to the Country. Tickmill also have Tier 1 FCA regulation, supported by FSCA, CySEC, and an offshore arm.
This is a broker that does forex first, and whilst there is a solid range of CFDs covering a variety of other instruments, it is forex where Tickmill are best. Spreads are very competitive, and they have a pro level offer that is taken up by some very serious heavy traders.
If you are considering Tickmill as your forex broker in Malaysia, you will have minimum deposit of $100, and one of the best range of digital payments supported, alongside mainstream deposit and withdrawal options.
2. XM – a trusted forex broker for Malaysia, with a strong education focus.
XM are a broker with real International presence, and are very much ‘forex first’. This forex broker has a good offer for Malaysia, with Malay language on both their website and customer support.
Tier 1 ASIC regulation, and a usual sign up bonus is provided by XM to give you as a Malaysia based trader free test entry into the market. If you choose to deposit, XM minimum deposit is only $5. This is a well and truly entry level into the forex market.
There are a series of webinars and seminars conducted by XM regularly to help develop traders. This is a forex broker that has not just given a standard basic version for Malaysia, but are very much dedicated to developing their trading offer for this part of the world.
3. AVATRADE
Avatrade are a forex broker with regulation from many different territories around the globe. This broker has ASIC regulation to fulfil our requirement for Tier 1, but Avatrade also hold JFSA, CBI, DFSA, FSCA, and BVI. It is pretty safe to say that this is a trusted forex broker with a solid offer for International traders, including Malaysia.
4. FXTM
FXTM hit the mark as far as Tier 1 regulations and global reach. This forex trading broker has Malay language support, Islamic Account options, and a track record of excellence. This is definitely a forex broker that can be trusted as one of the best.
With all the basics covered as far as Malaysia specific requirements, what makes FXTM stand out as one of the best forex brokers？
To start with, the range of instruments that can be traded is as wide as you should need. There are stocks, CFDs, Indices, Commodities, and social trading. These are all available on one account, in most cases with leverage. The FXTM platform is very easy to use, and mobile centric.
This trusted forex broker provides a fully comprehensive demo account, alongside a minimum deposit of just $10. FXTM are a broker that is committed to making trading accessible and will offer signup bonuses from time to time such as the recent 30% deposit bonus. Offers like this from FXTM help your trading funds go that little bit farther.
HERES HOW WE CHOOSE THE BEST BROKER FOR YOU!
Regulated – Before any Malaysian trader signs up to a new broker, the trader needs to check if the broker is regulated. A Regulated broker is one that follows the strict rules of the forex regulators to prevent scamming small investors like you and i.
Major regulators in the industry include DFSA, SCB, CySEC, FCA, FSB, MiFID, ASIC, IFSC, BaFin, and many others. Before creating our list of the best brokers for Malaysians, we had to make sure they were all regulated and trusted brokers.
Offers Demo Account – A Demo trading account is a virtual account made by a broker for new traders who want to test the brokers‘ platform before depositing real money. This feature is essential for beginners who are still new to forex trading and won’t like to lose their investment while learning how to trade.
Asset Coverage – Asset are financial instruments available for us to trade on. They range from commodities like gold and silver to cryptocurrencies, stocks, CFDs, ETFs, indices and currency pairs. Most brokers offer all asset types, while some offer a selected range asset type.
Offers Mobile Trading – Every Malaysian forex trader needs to have access to the inter-bank market irrespective of which device they own. This is why brokers make available mobile apps for android and ios, desktop, and web apps for traders. This makes trading seamless and less stressful.
Easy Deposit/Withdrawal – As a Malaysian forex trader, you need to choose a broker that supports the payment option that works in Malaysia. Also, the payment option needs to provide the lowest fees and fast in processing payments. For Malaysians, Skrill, Neteller, Master Card, Visa Card, and WebMoney are the best payment options.
Effective Customer Service – Before signing up to a broker, you need to first visit the brokers website and ask as many questions as possible. This helps you gain confidence in the platform and helps you resolve any issues that might come up during trading.
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