10 Best Forex Brokers in Malaysia
The 10 Best Forex Brokers in Malaysia – Merit or Mislead, Revealed! We have listed the best SC-approved, BNM authorized Forex Brokers offering localized support and MYR trading options to Malaysian Traders.
10 Best Forex Brokers in Malaysia – Market Matchup
| 1 |  | Localized Malaysian Support Negative balance protection Swap-free Islamic accounts |  |  |
| 2 |  | Top-tier global regulation Huge range of instruments Competitive low commissions | | |
| 3 |  | Strong local presence in Malaysia Offers multi-lingual customer support Loyalty Programs in Asia | | |
| 4 |  | Education for Southeast Asian traders Flexible leverage Strong reputation | | |
| 5 |  | Local Malaysian funding methods MetaTrader 4, 5 and cTrader High liquidity | | |
| 6 |  | MT4, MT5, IRESS Localized payment methods for Malaysia Multilingual customer service | | |
| 7 |  | Very low minimum deposit Tight spreads and zero re-quotes Negative balance protection | | |
| 8 |  | Highly regulated broker Strong protection for traders' funds Good regional reputation in Southeast Asia | | |
| 9 |  | Strong regional focus in Asia Variety of account types Fast and stable order execution | | |
| 10 |  | High-performance mobile applications Multilingual service Advanced trading platforms | | |
10 Best Forex Brokers in Malaysia (2025)
- Octa – Overall, the Best Forex Broker in Malaysia, popular with Malaysian traders.
- Interactive Brokers – Top-tier global regulation and reputation for security in Malaysia.
- HFM – Offers good bonuses and loyalty programs, popular in Malaysia.
- Tickmill – Local (MYR) deposits and withdrawals for Malaysian clients.
- IC Markets – Very fast order execution, ideal for scalpers and algo traders.
- FP Markets – Multilingual customer service and dedicated account managers.
- XM – Highly popular in Malaysia for local seminars and trading contests.
- JustMarkets – Flexible account types and fast order execution.
- FBS – User-friendly platform and Multilingual support, including Malay.
- Swissquote – Deep interbank liquidity and a FIX API for low-latency trading.
Top 10 Forex Brokers (Globally)*
1. Octa
In Malaysia, Octa operates under the Labuan Financial Services Authority (LFSA), offering services through its local entity. All accounts are Shariah-compliant and swap-free by default, aligning with Islamic finance principles.
| Broker | Octa |
| Accepts Traders in Malaysia | Yes |
| Regulation Number in Malaysia | Regulated by MISA (Comoros) with license number T2023320. |
| Local Offices in Malaysia | None |
| Can You Trade with Local Currency (MYR)? | Yes |
| Is There Local Support in Malaysia? | Yes |
| Malaysian-Based Account | Yes |
| Minimum Deposit in MYR | 100 MYR |
| Leverage | 1:1000 |
| Bonuses | Yes |
| Fund Withdrawal Fee | None |
| Spreads from | 0.6 pips |
| Commissions | None |
| Investor Protection Schemes | None |
| Negative Balance Protection | Yes |
| Read Review | |
| Open Account | |
Frequently Asked Questions
What trading platforms does Octa offer?
Octa provides a choice of trading platforms, including their proprietary OctaTrader (web and mobile app) designed for ease of use. They also widely support MetaTrader 4 (MT4) and MetaTrader 5 (MT5), both accessible via desktop, web, and mobile versions.
Does Octa support traders in Malaysia?
Yes, Octa actively supports traders in Malaysia. They operate under the Labuan Financial Services Authority (LFSA) via their Malaysian entity, offering Shariah-compliant and swap-free accounts by default. They are a popular choice and provide localized support and resources.
Pros and Cons
| ✓ Pros | ✕ Cons |
| Low Minimum Deposit | Not Regulated in Malaysia |
| No Deposit/Withdrawal Fees | No Investor Compensation Scheme |
| Supports Local Bank Transfers (MY) | No Physical Office in Malaysia |
| High Leverage | Customer Support Not 24/7 |
| Multiple Platforms | Not Ideal for Advanced Traders |
Our Insights
Octa is a solid option for beginner to intermediate traders, particularly in Malaysia, thanks to its localized support, low costs, and user-friendly platforms. However, as it lacks local regulation and investor protection, you should approach it with caution and only trade funds you can afford to lose.
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐⭐ |
| 4 | Research and Education | ⭐⭐⭐⭐☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐☆☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐⭐ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐☆ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
2. Interactive Brokers
Interactive Brokers is best suited for serious, long-term Malaysian investors and traders seeking global market access with institutional-grade tools and top-tier security. However, beginners or those preferring localized services (like Malay language support or MYR accounts) might find it less user-friendly.
| Broker | Interactive Brokers |
| Accepts Traders in Malaysia | Yes |
| Regulation Number in Malaysia | Not regulated by Securities Commission Malaysia (SC) |
| Local Offices in Malaysia | None |
| Can You Trade with Local Currency (MYR)? | Yes |
| Is There Local Support in Malaysia? | Yes |
| Malaysian-Based Account | Yes |
| Minimum Deposit in MYR | 470 MYR |
| Leverage | Up to 1:50 |
| Fund Withdrawal Fee | Yes |
| Spreads from | 0.1 pips |
| Commissions | Yes |
| Investor Protection Schemes | Yes |
| Negative Balance Protection | Yes |
| Read Review | |
| Open Account | |
Frequently Asked Questions
Is there a demo account available?
Yes, Interactive Brokers offers a “Paper Trading Account,” which functions as a demo. It allows you to use their full range of trading features in a simulated environment with real market conditions and virtual funds, letting you practice risk-free.
Can I use IBKR on mobile?
Yes, you can use Interactive Brokers on mobile through their “IBKR Mobile” app. It’s available for both Android and iOS devices, offering comprehensive functionality for trading a wide range of assets, monitoring your portfolio, and managing your account on the go.
Pros and Cons
| ✓ Pros | ✕ Cons |
| Highly Regulated & Trusted | Not Regulated in Malaysia |
| Low Commissions | Complex Interface |
| Advanced Trading Platforms | Limited Leverage |
| Excellent Research Tools | No Bonuses or Promotions |
| No Inactivity Fees | No Islamic Account |
| Flexible Account Types | Manual Currency Conversion |
Our Insights
Interactive Brokers is a highly reputable and globally trusted broker, ideal for Malaysian traders seeking ultra-low fees, advanced trading tools, and access to a vast range of global markets. Its professional-grade platforms and robust investor protection make it an excellent choice for serious traders.
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐⭐ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐⭐ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐⭐☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐☆☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐☆☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐⭐ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐☆ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐⭐ |
3. HFM
HFM is a globally recognized broker, offering a wide range of trading instruments and account types for both beginners and experienced traders. While it provides localized services for Malaysian clients, including MYR deposits and local support, it’s crucial to note the absence of local regulatory oversight from bodies like SC Malaysia
| Broker | HFM |
| Accepts Traders in Malaysia | Yes |
| Regulation Number in Malaysia | Not regulated by Securities Commission Malaysia (SC) |
| Local Offices in Malaysia | Regional support centers available |
| Can You Trade with Local Currency (MYR)? | Yes |
| Is There Local Support in Malaysia? | Yes |
| Malaysian-Based Account | Yes |
| Minimum Deposit in MYR | 25 MYR |
| Leverage | 1:2000 |
| Bonuses | Yes |
| Fund Withdrawal Fee | None |
| Spreads from | 0.0 pips |
| Commissions | Yes |
| Investor Protection Schemes | Yes |
| Negative Balance Protection | Yes |
| Read Review | |
| Open Account | |
Frequently Asked Questions
What platforms does HFM use?
HFM offers a range of platforms, including their proprietary HFM Platform (web and mobile app). They also widely support MetaTrader 4 (MT4) and MetaTrader 5 (MT5), both available across desktop, web, and mobile devices.
Is there a minimum deposit for Malaysian traders?
For Malaysian traders, HFM’s minimum deposit can vary by account type and payment method. While some accounts like Cent and Premium have no stated minimum, local bank transfers start from 25 MYR. Other methods, like credit/debit cards, might be higher.
Pros and Cons
| ✓ Pros | ✕ Cons |
| Accepts Malaysian Traders | Not Regulated in Malaysia |
| Low Minimum Deposit | Offshore Regulation |
| High Leverage | Bonus Restrictions |
| Bonus Programs | Limited Asset Range |
| Negative Balance Protection | No Direct Crypto Trading |
Our Insights
HFM is a solid, user-friendly broker for Malaysian traders, offering high leverage, low-cost entry, and local support. However, be aware of the lack of local regulation and some restrictions on account currency and product range before making significant investments.
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐⭐☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐☆☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐⭐ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐☆ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
Top 3 Forex Brokers in Malaysia – Side-by-Side Comparison
| Forex Brokers Compared | |  | |
| Regulators | 🇨🇾 CySEC 🇰🇲 MISA 🇿🇦 FSCA 🇲🇾 FSCM | 🇺🇸 SEC 🇺🇸 FINRA 🇺🇸 CFCT 🇬🇧 FCA 🇮🇪 CBI 🇨🇦 CIRO 🇦🇺 ASIC 🇯🇵 FSA 🇭🇰 SFC 🇮🇳 SEBI | 🇲🇾 FSCM 🇬🇧 FCA 🇿🇦 FSCA 🇦🇪 DFSA 🇸🇨 FSA 🇲🇺 FSC 🇰🇪 CMA |
| Year Established | 2011 | 1978 | 2010 |
| Execution Type(s) | No Dealing Desk (NDD) Straight Through Processing (STP) | Direct Market Access (DMA) | No Dealing Desk (NDD) Straight Through Processing (STP) |
| Minimum Deposit | 25 USD | 0 USD | 5 USD |
| Average Trading Cost EUR/USD | Average Spread: 0.6pips | Average Spread: 0.1pips | Average Spread: 0.0pips |
| Commissions | None | Yes | Yes |
| Swap Fees | None | Yes | Yes |
| Trading Platforms | MetaTrader 4 (MT4) MetaTrader 5 (MT5 OctaTrader | Trader Workstation (TWS) IBKR Mobile Client Portal IBKR GlobalTrader | MetaTrader 4 (MT4) MetaTrader 5 (MT5) HFM App |
| Islamic Account | Yes | Yes | Yes |
| Negative Balance Protection | Yes | Yes | Yes |
| Get Started |  | | |
4. Tickmill
Tickmill is a globally recognized and highly regulated forex and CFD broker known for its competitive spreads, fast execution, and diverse trading instruments. For Malaysian traders, Tickmill operates under the Labuan Financial Services Authority (LFSA) through its Malaysian entity (Tickmill Asia Ltd), providing a degree of local regulatory oversight.
| Broker | Tickmill |
| Accepts Traders in Malaysia | Yes |
| Regulation Number in Malaysia | License No. MB/18/0028 |
| Local Offices in Malaysia | Yes |
| Can You Trade with Local Currency (MYR)? | Yes |
| Is There Local Support in Malaysia? | Yes |
| Malaysian-Based Account | Yes |
| Minimum Deposit in MYR | 470 MYR |
| Leverage | 1:500 |
| Bonuses | Yes |
| Fund Withdrawal Fee | None |
| Spreads from | 0.0 pips |
| Commissions | Yes |
| Investor Protection Schemes | Yes |
| Negative Balance Protection | Yes |
| Read Review | |
| Open Account | |
Frequently Asked Questions
What is the minimum deposit at Tickmill?
The minimum deposit at Tickmill is generally USD 100 across all their main account types. This applies to their USD, EUR, GBP, and ZAR base currency accounts, though minor variations might exist depending on the specific entity or payment method
What trading platforms does Tickmill support?
Tickmill supports a comprehensive suite of trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), and their proprietary Tickmill Trader. They also offer direct integration with TradingView for advanced charting and analysis, alongside MetaTrader WebTrader and MetaTrader for Mac.
Pros and Cons
| ✓ Pros | ✕ Cons |
| Regulated in Malaysia | No Proprietary Platform |
| Low Spreads | Limited Trading Instruments |
| Variety of Platforms | Limited Asset Variety |
| Diverse Instruments | Classic Account Spreads |
Our Insights
Tickmill stands out as a trusted, well-regulated broker offering Malaysian traders competitive spreads, fast execution, and diverse platforms like MT4, MT5, and TradingView. With local oversight through LFSA and a reasonable USD 100 minimum deposit, Tickmill remains a strong choice for forex and CFD trading.
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐⭐ |
| 2 | Range of Investments, Platforms, and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐⭐☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐⭐ |
| 7 | Deposit and Withdrawal Options | ⭐⭐⭐⭐☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐⭐ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐⭐ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
5. IC Markets
IC Markets is a globally recognized broker known for its competitive trading conditions and wide range of instruments. While Malaysian traders can access its services, it’s important to note that its primary regulation is from Australia (ASIC) and Seychelles (FSA), which means it lacks local regulatory oversight from bodies like the Securities Commission Malaysia (SC).
| Broker | IC Markets |
| Accepts Traders in Malaysia | Yes |
| Regulation Number in Malaysia | Not regulated by the Securities Commission Malaysia (SCM) |
| Local Offices in Malaysia | None |
| Can You Trade with Local Currency (MYR)? | Yes |
| Is There Local Support in Malaysia? | Yes |
| Malaysian-Based Account | Yes |
| Minimum Deposit in MYR | 941 MYR |
| Leverage | 1:1000 |
| Bonuses | Yes |
| Fund Withdrawal Fee | None |
| Spreads from | 0.0 pips |
| Commissions | Yes |
| Investor Protection Schemes | Yes |
| Negative Balance Protection | Yes |
| Read Review | |
| Open Account | |
Frequently Asked Questions
What platforms does IC Markets support?
IC Markets offers a strong suite of trading platforms, including the widely popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5). They also provide cTrader, known for its advanced features, and direct integration with TradingView for superior charting and analysis.
Does IC Markets offer Islamic (Swap-Free) Accounts?
Yes, IC Markets offers Islamic Accounts (also known as Swap-Free accounts). These accounts are designed for clients whose religious beliefs prohibit earning or paying interest. They are available for both Raw Spread and Standard account types on MT4, MT5, and cTrader platforms.
Pros and Cons
| ✓ Pros | ✕ Cons |
| Tight Spreads | No Malaysian Regulation |
| Multiple Platforms | Higher Minimum Deposit |
| Fast Execution | No Proprietary Platform |
| Islamic (Swap-Free) Accounts | Limited Stock CFDs |
Our Insights
IC Markets excels as a top-tier forex and CFD broker, offering tight spreads, lightning-fast execution, and a choice of popular platforms like MetaTrader and cTrader. It’s particularly well-suited for scalpers, algorithmic traders, and experienced investors who need a high-performance, no-frills trading environment.
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐⭐ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐☆☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐⭐ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐☆ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
6. FP Markets
FP Markets provides a comprehensive and competitive trading environment for Malaysian traders, especially those who prioritize low costs, strong platform choices, and a well-regulated global broker. With local deposit methods and multilingual support, it appeals to beginners and experienced traders.
| Broker | FP Markets |
| Accepts Traders in Malaysia | Yes |
| Regulation Number in Malaysia | Not regulated by the Securities Commission Malaysia (SCM) |
| Local Offices in Malaysia | Yes |
| Can You Trade with Local Currency (MYR)? | Yes |
| Is There Local Support in Malaysia? | Yes |
| Malaysian-Based Account | Yes |
| Minimum Deposit in MYR | 470 MYR |
| Leverage | 1:500 |
| Bonuses | None |
| Fund Withdrawal Fee | None |
| Spreads from | 0.0 pips |
| Commissions | Yes |
| Investor Protection Schemes | Yes |
| Negative Balance Protection | Yes |
| Read Review | |
| Open Account | |
Frequently Asked Questions
What is the minimum deposit?
The minimum deposit with FP Markets for both their Standard and Raw accounts is generally 100 USD (or equivalent in other currencies). This applies to their MT4 and MT5 platforms. For IRESS accounts, the minimum balance is $1,000.
What trading platforms are available?
FP Markets offers a robust selection of trading platforms: MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, and integration with TradingView. They also provide their own WebTrader and a dedicated mobile app for on-the-go trading.
Pros and Cons
| ✓ Pros | ✕ Cons |
| Tight Spreads | Not Regulated in Malaysia |
| Multiple Platforms | Limited Bonuses |
| Fast Execution | Complexity of IRESS Platform |
| Islamic Account Available | Average Mobile Apps |
Our Insights
FP Markets stands out as a globally trusted broker, recognized for competitive spreads, rapid execution, and advanced platforms like MetaTrader 4/5 and IRESS. It’s a solid choice for experienced traders, particularly scalpers or algorithmic users, who benefit from its raw ECN pricing and professional-grade tools.
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐⭐☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐⭐☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐⭐ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐☆ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
7. XM
XM is popular among Malaysian traders, offering local support, Islamic (swap-free) accounts, and Malay-language services. XM is a globally recognized online broker offering forex and CFD trading. Clients can access a wide range of financial instruments, including forex, stocks, commodities, indices, and cryptocurrencies, all tradable on the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms.
| Broker | XM |
| Accepts Traders in Malaysia | Yes |
| Regulation Number in Malaysia | Not regulated by Malaysian authorities |
| Local Offices in Malaysia | None |
| Can You Trade with Local Currency (MYR)? | None |
| Is There Local Support in Malaysia? | Yes |
| Malaysian-Based Account | Yes |
| Minimum Deposit in MYR | 23 MYR |
| Leverage | 1:1000 |
| Bonuses | Yes |
| Fund Withdrawal Fee | None |
| Spreads from | 0.6 pips |
| Commissions | None |
| Investor Protection Schemes | None |
| Negative Balance Protection | Yes |
| Read Review | |
| Open Account | |
Frequently Asked Questions
Does XM offer an Islamic (swap-free) account?
Yes, XM does offer Islamic (Swap-Free) accounts. Clients can convert their Standard, Ultra Low, or Shares accounts to Islamic status to comply with Sharia principles, which eliminates swap fees on overnight positions.
What trading platforms does XM support?
XM primarily supports the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. These are available across various devices, including desktop (Windows, Mac), web browsers (WebTrader), and mobile (Android, iOS) via their dedicated XM mobile app.
Pros and Cons
| ✓ Pros | ✕ Cons |
| Low Minimum Deposit | Not Regulated in Malaysia |
| Islamic (Swap-Free) Accounts | Limited Crypto Selection |
| Multiple Account Types | No Local Office |
| Generous Bonuses | Leverage Can Be Risky |
Our Insights
XM is a reputable, beginner-friendly broker with robust international regulation, low entry barriers, and diverse trading tools. It stands out with Islamic accounts, local bank deposit/withdrawal support, and multi-language customer service, including Malay, making it highly accessible.
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐⭐⭐ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐☆☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐☆ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
8. JustMarkets
JustMarkets is not locally regulated in Malaysia but operates under offshore licenses (like the Financial Services Authority of Seychelles). Despite this, it does accept Malaysian traders, offering local deposit methods, swap-free Islamic accounts, and regional promotions that make it popular with traders in Malaysia.
| Broker | JustMarkets |
| Accepts Traders in Malaysia | Yes |
| Regulation Number in Malaysia | Not regulated by Malaysian authorities |
| Local Offices in Malaysia | Yes |
| Can You Trade with Local Currency (MYR)? | Yes |
| Is There Local Support in Malaysia? | Yes |
| Malaysian-Based Account | Yes |
| Minimum Deposit in MYR | 23 MYR |
| Leverage | 1:3000 |
| Bonuses | Yes |
| Fund Withdrawal Fee | None |
| Spreads from | 0.6 pips |
| Commissions | None |
| Investor Protection Schemes | None |
| Negative Balance Protection | Yes |
| Read Review | |
| Open Account | |
Frequently Asked Questions
Can Malaysians open an account with JustMarkets?
Yes, Malaysians can open an account with JustMarkets. They offer a localized website, accept MYR as an account currency, provide local deposit/withdrawal options, and have customer support available in Malay, catering specifically to Malaysian traders.
Does JustMarkets offer a demo account?
Yes, JustMarkets offers a free demo account. It allows beginners and experienced traders to practice trading strategies risk-free using virtual funds in a simulated market environment, mirroring real account conditions on MetaTrader 4 and 5 platforms.
Pros and Cons
| ✓ Pros | ✕ Cons |
| Accepts Malaysian Traders | Not Regulated in Malaysia |
| Low Minimum Deposit | Leverage Is Risky |
| High Leverage | Limited Investor Protection |
| Islamic (Swap-Free) Accounts | Spread-Based Pricing |
| MT4 & MT5 Platforms | Education Resources Are Basic |
Our Insights
JustMarkets is a strong option for Malaysian beginners and budget-conscious traders due to its low deposit barrier, MYR support, and flexible leverage. However, the lack of local regulation and investor compensation should be considered before committing large funds.
| # | Criteria | Score |
| 1 | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2 | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3 | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4 | Research and Education | ⭐⭐⭐☆☆ |
| 5 | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6 | Customer Support and Regulatory Compliance | ⭐⭐⭐☆☆ |
| 7 | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8 | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9 | Risk Management and Safety Measures | ⭐⭐⭐⭐☆ |
| 10 | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
9. FBS
FBS is a well-known international forex and CFD broker that has been operating since 2009. It’s particularly popular in emerging markets, including Malaysia, due to its accessible trading conditions and localized services.
| Broker | FBS |
| Accepts Traders in Malaysia | Yes |
| Regulation Number in Malaysia | Not regulated in Malaysia |
| Local Offices in Malaysia | Yes |
| Can You Trade with Local Currency (MYR)? | Yes |
| Is There Local Support in Malaysia? | Yes |
| Malaysian-Based Account | Yes |
| Minimum Deposit in MYR | 20 MYR |
| Leverage | 1:3000 |
| Bonuses | Yes |
| Fund Withdrawal Fee | None |
| Spreads from | 0.7 pips |
| Commissions | None |
| Investor Protection Schemes | None |
| Negative Balance Protection | Yes |
| Read Reaview | |
| Open Account | |
Frequently Asked Questions
What trading platforms does FBS offer?
FBS primarily offers the widely popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, available across desktop, web, and mobile devices. They also provide their own proprietary FBS Trader mobile application for on-the-go trading convenience.
Is FBS safe for beginners?
FBS can be suitable for beginners due to low minimum deposits ($5), user-friendly platforms (MT4/MT5, FBS Trader app), and extensive educational resources. They also offer demo accounts and negative balance protection. However, high-leverage options need careful risk management.
Pros and Cons
| ✓ Pros | ✕ Cons |
| Accepts Malaysian Traders | Not Regulated in Malaysia |
| Low Minimum Deposit | Leverage Is High-Risk |
| Islamic (Swap-Free) Accounts | Commission on Some Account Types |
| High Leverage | Limited Investor Protection Schemes |
| Bonuses and Promotions | Marketing-heavy Bonuses |
Our Insights
FBS suits Malaysian beginners or low-capital traders seeking local banking, flexible trading, and Islamic accounts. However, caution is advised for large deposits due to their offshore regulation and limited protection.
| # | Criteria | Score |
| 1. | Overall Rating and Trust Score | ⭐⭐⭐⭐☆ |
| 2. | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐☆ |
| 3. | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4. | Research and Education | ⭐⭐⭐⭐☆ |
| 5. | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6. | Customer Support and Regulatory Compliance | ⭐⭐⭐☆☆ |
| 7. | Deposit and Withdrawal Option | ⭐⭐⭐⭐⭐ |
| 8. | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9. | Risk Management and Safety Measures | ⭐⭐⭐⭐☆ |
| 10. | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
10. Swissquote
Swissquote is an excellent choice for experienced Malaysian traders and investors who prioritize top-tier regulation, institutional-grade tools, and access to a wide variety of global assets, and are comfortable with a higher minimum deposit. It offers a secure and reliable environment, backed by Swiss banking standards.
| Broker | Swissquote |
| Accepts Traders in Malaysia | Yes |
| Regulation Number in Malaysia | Not regulated by Malaysian authorities |
| Local Offices in Malaysia | None |
| Can You Trade with Local Currency (MYR)? | Yes |
| Is There Local Support in Malaysia? | Yes |
| Malaysian-Based Account | Yes |
| Minimum Deposit in MYR | 470 MYR |
| Leverage | 1:100 |
| Bonuses | Bonuses |
| Fund Withdrawal Fee | Yes |
| Spreads from | Variable |
| Commissions | Yes |
| Investor Protection Schemes | None |
| Negative Balance Protection | None |
| Read Review | |
| Open Account | |
Frequently Asked Questions
What platforms does Swissquote support?
Swissquote offers a comprehensive suite of trading platforms, including their proprietary Advanced Trader and CFXD platforms. They also fully support MetaTrader 4 (MT4) and MetaTrader 5 (MT5), and integrate with TradingView for advanced charting.
Is Swissquote suitable for beginners?
Swissquote offers extensive educational resources and user-friendly proprietary platforms that can benefit beginners. However, its relatively high minimum deposit ($1,000 for some accounts) might be a barrier for those starting with smaller capital.
Pros and Cons
| ✓ Pros | ✕ Cons |
| Highly Regulated Broker | High Minimum Deposit |
| Strong Financial Security | Limited Promotions/Bonuses |
| Advanced Trading Platforms | Higher Fees |
| Transparent Pricing | No Local Customer Support |
| Strong Research & Tools | No Local Regulation in Malaysia |
Our Insights
Swissquote is a highly reputable and secure broker, offering access to a broad range of global markets with top-tier regulation and strong institutional backing. It’s an ideal choice for experienced or professional traders who prioritize regulatory protection, advanced platforms, and diversified instruments.
| # | Criteria | Score |
| 1. | Overall Rating and Trust Score | ⭐⭐⭐⭐⭐ |
| 2. | Range of Investments, Platforms and Tools | ⭐⭐⭐⭐⭐ |
| 3. | Commissions, Fees, and Bonus Offers | ⭐⭐⭐⭐☆ |
| 4. | Research and Education | ⭐⭐⭐⭐☆ |
| 5. | Mobile Trading and User Experience | ⭐⭐⭐⭐☆ |
| 6. | Customer Support and Regulatory Compliance | ⭐⭐⭐☆☆ |
| 7. | Deposit and Withdrawal Option | ⭐⭐⭐⭐☆ |
| 8. | Execution Speed and Order Types | ⭐⭐⭐⭐☆ |
| 9. | Risk Management and Safety Measures | ⭐⭐⭐⭐⭐ |
| 10. | Markets Analysis and Trading Tools | ⭐⭐⭐⭐☆ |
Forex Trading in Malaysia – Quick Overview
Forex trading in Malaysia has gained significant popularity over the past decade, especially among retail traders. It involves buying and selling currency pairs like USD/MYR or EUR/USD to profit from exchange rate movements.
Legal Status of Forex Trading in Malaysia
- Forex trading is legal for individuals if done through licensed and regulated brokers.
- Brokers must ideally be regulated by reputable international authorities (like ASIC, FCA) or have local approval from Bank Negara Malaysia (BNM) or the Securities Commission Malaysia (SC), though most retail forex brokers operate under offshore licenses.
Local banks and licensed investment banks can also offer forex services under Malaysian law.
Popularity of Forex Trading in Malaysia
- Forex trading is popular among Malaysian retail traders because of the relatively low capital needed to start.
- Many international brokers have a strong local presence, offering Malay-language support, local deposit options, Islamic swap-free accounts, and local seminars/webinars.
- Community trading, copy trading, and bonus promotions are big draws for new Malaysian traders.
Unauthorized local forex trading groups, scams, or illegal investment schemes are not legal, so traders should always verify that the broker is reputable and that they understand the risks.
What Real Malaysian Traders Want to Know!
Q: Is Forex trading legal in Malaysia?
Q: Who regulates Forex trading in Malaysia?
Q: Can Malaysian traders use offshore brokers?
Q: How do I check if a Forex broker is regulated?
Q: What is the minimum deposit to start Forex trading?
In Conclusion
Forex trading is legal in Malaysia, provided it’s conducted through licensed local or internationally regulated brokers. While the Securities Commission Malaysia (SCM) and Bank Negara Malaysia (BNM) oversee financial activities, many Malaysian traders opt for international brokers regulated by reputable bodies like the FCA (UK) and ASIC (Australia).
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Faq
The most popular are MetaTrader 4 (MT4) and MetaTrader 5 (MT5). Many brokers also offer web platforms, mobile apps, or TradingView integration.
Forex is open 24 hours a day, five days a week – from about 5 a.m. Monday to 4 a.m. Saturday Malaysian time.
The most active trading hours are during the London and New York session overlaps, roughly from 3 p.m. to 1 a.m. Malaysian time.
Leverage lets you control larger trade sizes with a smaller deposit. For example, 1:100 leverage means you can trade USD 10,000 with a USD 100 margin. Higher leverage increases both potential profit and risk.
Margin is the money a trader needs to open and maintain a leveraged position. If the market moves against you, you may receive a margin call to top up your account.
Negative balance protection ensures you can’t lose more money than you deposit. Many top brokers offer this feature to protect retail traders.
Traders use technical analysis (charts, indicators) and fundamental analysis (economic news, interest rates) to predict price movements.
Key risks include market volatility, over-leveraging, and emotional trading. Good risk management and stop-loss orders help reduce losses.
Most brokers offer free demo accounts, online tutorials, webinars, and beginner-friendly courses to help you practice without risking real money
