10 Best Forex Brokers in Malaysia

 

The 10 Best Forex brokers in Malaysia revealed. We have explored and tested several prominent brokers to identify the 10 best.

 

In this in-depth guide, you’ll learn: 

 

Malaysian Forex Brokers Compared – Side by Side*

 

 

Here is a Breakdown of Topics covered in this comprehensive guide:

 

• A Detailed Ranking of the 10 Best Forex Brokers in Malaysia
• Pros and Cons of Forex Trading
• Forex Trading in Malaysia – Quick Overview

 

and much, MUCH more!

 

The 10 Leading Forex Brokers in Malaysia’s Standout Feature.

 

 

Now let’s deep dive into each broker that made the list…

 

10 Best Forex Brokers in Malaysia (2025)

 

• Octa – Top Malaysian Broker with competitive pricing, and a focus on client education and support
• Interactive Brokers – Zero commissions on US stocks and ETFs
• HFM – Variety of trading platforms, including MT4, MT5, and proprietary tools.
• Tickmill – Low spreads and a variety of account types
• IC Markets – Known for their user-friendliness and comprehensive features
• FP Markets – Fast execution and a range of tradable assets
• XM – Provide competitive spreads, commission-free trading, and swap-free options.
• JustMarkets – Multiple account types, and fast order execution
• FBS – User-friendly platform for beginners and experienced traders alike
• Swissquote – Deep interbank liquidity and a FIX API for low-latency trading.

 

Top 10 Forex Brokers (Globally)

 

 

1. Octa

 

★★★★★

Minimum Deposit: $25 Regulated by: CySEC, MISA, FSCA, FSC Crypto: Yes

Get startedRead Review

 

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.

 

 

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

 

 

★★★★★

Minimum Deposit: $25 Regulated by: CySEC, MISA, FSCA, FSC Crypto: Yes

Get startedRead Review

 

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 (apart from its LFSA license in Malaysia), you should approach it with caution and only trade funds you can afford to lose.

 

Final Score

 

 

2. Interactive Brokers

 

★★★★

Minimum Deposit: $0 Regulated by: SEC, FINRA, FCA, ASIC Crypto: No

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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.

 

 

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

 

 

★★★★

Minimum Deposit: $0 Regulated by: SEC, FINRA, FCA, ASIC Crypto: No

Get startedRead Review

 

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.

 

Final Score

 

 

3. HFM

 

★★★★★

Minimum Deposit: $0 Regulated by: FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA Crypto: Yes

Get startedRead Review

 

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

 

 

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 card,s might be higher.

 

Pros and Cons

 

 

★★★★★

Minimum Deposit: $0 Regulated by: FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA Crypto: Yes

Get startedRead Review

 

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.

 

Final Score

 

 

4. Tickmill

 

★★★★★

Minimum Deposit: $100 Regulated by: FCA, CySEC, FSA Crypto: Yes

Get startedRead Review

 

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.

 

 

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

 

 

★★★★★

Minimum Deposit: $100 Regulated by: FCA, CySEC, FSA Crypto: Yes

Get startedRead Review

 

Final Score

 

 

5. IC Markets

 

★★★

Minimum Deposit: $200 Regulated by: FSA Crypto: Yes

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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). Therefore, traders should be aware that direct local support and protection might not be as robust as with locally regulated entities.

 

 

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

 

 

★★★

Minimum Deposit: $200 Regulated by: FSA Crypto: Yes

Get startedRead Review

 

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.

 

Final Score

 

 

6. FP Markets

 

★★★★★

Minimum Deposit: $100 Regulated by: ASIC, CySEC, FSCA, FSA, FSC, CMA Crypto: Yes

Get startedRead Review

 

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.

 

 

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

 

 

★★★★★

Minimum Deposit: $100 Regulated by: ASIC, CySEC, FSCA, FSA, FSC, CMA Crypto: Yes

Get startedRead Review

 

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.

 

Final Score

 

 

7. XM

 

★★★★★

Minimum Deposit: $5 Regulated by: FSC Crypto: Yes

Get startedRead Review

 

Founded in 2009, 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.

XM is popular among Malaysian traders, offering local support, Islamic (swap-free) accounts, and Malay-language services.

 

 

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

 

 

★★★★★

Minimum Deposit: $5 Regulated by: FSC Crypto: Yes

Get startedRead Review

 

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.

 

Final Score

 

 

8. JustMarkets

 

★★★★★

Minimum Deposit: $10 Regulated by: FSA, CySEC, FSCA, FSC Crypto: Yes

Get startedRead Review

 

While XM welcomes Malaysian traders and offers various features, it’s crucial to remember it lacks regulation by Malaysian authorities. Traders should therefore exercise caution and consider the regulatory implications when choosing this broker.

 

 

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

 

 

★★★★★

Minimum Deposit: $10 Regulated by: FSA, CySEC, FSCA, FSC Crypto: Yes

Get startedRead Review

 

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.

 

Final Score

 

 

9. FBS

 

★★★★★

Minimum Deposit: $5 Regulated by: FSC, CySEC, ASIC Crypto: Yes

Get startedRead Review

 

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.

 

 

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

 

 

★★★★★

Minimum Deposit: $5 Regulated by: FSC, CySEC, ASIC Crypto: Yes

Get startedRead Review

 

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 its offshore regulation and limited protection.

 

Final Score

 

 

10. Swissquote

 

★★★

Minimum Deposit: $1,000 Regulated by: MAS, CSSF Crypto: Yes

Get startedRead Review

 

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.

 

 

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

 

 

★★★

Minimum Deposit: $1,000 Regulated by: MAS, CSSF Crypto: Yes

Get startedRead Review

 

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.

 

Final Score

 

 

 

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.

 

 

Frequently Asked Questions

 

Is forex trading legal in Malaysia?

Yes, forex trading is legal in Malaysia if conducted through licensed local or international brokers. The Securities Commission Malaysia (SCM) and Bank Negara Malaysia (BNM) regulate these activities, emphasizing that traders should use authorized dealers to ensure compliance and protection.

 

Can Malaysians trade with international forex brokers?

Yes, Malaysians can trade with international forex brokers. However, it’s crucial to choose brokers regulated by reputable international authorities as they offer better client protection than unregulated entities. Be aware that most international brokers are not regulated by the Securities Commission Malaysia (SC).

 

Pros and Cons

 

 

Our Insights

Forex trading in Malaysia provides a convenient and flexible way to access global currency markets, often with Islamic account options and low entry costs. However, real risks exist; success hinges on proper education, sound risk management, and choosing reputable brokers.

 

 

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), ASIC (Australia), CySEC (Cyprus), or LFSA (Labuan).

 

You Might also Like:

 

• Octa Review
• Interactive Brokers Review
• HFM Review
• Tickmill Review
• IC Markets Review
• FP Markets Review
• XM Review
• JustMarkets Review
• Swissquote Review