5 Best Forex Brokers in Malaysia
We have listed the 5 Best Forex Brokers in Malaysia that offer secure and user-friendly access to the global forex markets. These Regulated Forex Brokers Malaysia are recognized for their strong regulatory compliance, competitive spreads, and advanced Forex trading platforms in Malaysia. Malaysian traders benefit from reliable trade execution, oversight under local and international regulatory frameworks, and flexible account options suitable for both beginners and professional traders seeking transparency and efficiency.
5 Best Forex Brokers in Malaysia (2025)
- Interactive Brokers – Overall, the Best Forex Broker 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.
Top 10 Forex Brokers (Globally)*
1. 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 | ⭐⭐⭐⭐⭐ |
2. 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 | ⭐⭐⭐⭐☆ |
3. 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 | ⭐⭐⭐⭐☆ |
Top 3 Forex Brokers in Malaysia – Compared
| Broker | Open an Account | Minimum Deposit | Spreads From | Regulation |
 | | None | Variable | 🇺🇸 USA SEC 🇺🇸 FINRA 🇬🇧 FCA 🇦🇺 ASIC |
 | | None | 0.0 pips | 🇿🇦 FSCA 🇦🇪 DFSA 🇸🇨 FSA 🇬🇧 FCA 🇲🇺 FSC 🇰🇪 CMA |
 | | 100 USD | 0.0 pips (ECN accounts) | 🇸🇨 FSA (Seychelles) 🇬🇧 FCA 🇦🇪 DFSA 🇨🇾 CySEC 🇿🇦 FSCA |
How We Selected the Best Forex Brokers in Malaysia (2025)
Each broker was reviewed across 10 core metrics to ensure balanced, transparent rankings.
| Criteria | Evaluation Focus |
| Regulation | License strength and reliability |
| Trading Costs | Spreads, swaps, and commission fairness |
| Platform Quality | Stability and execution speed |
| Funding Options | MYR deposits and local banking |
| Mobile Experience | App performance and ease of use |
| Education | Tutorials and webinars |
| Execution | Order slippage and latency |
| Risk Tools | Stop-out and negative balance protection |
| Support | Local response time |
| Promotions | Bonus transparency and fairness |
Only brokers with strong regulation and local support were shortlisted.
Best Forex Brokers for Beginners in Malaysia (2025)
For new traders in Malaysia, choosing the right broker can make all the difference. Beginner-friendly brokers typically offer low minimum deposits, easy-to-use platforms, educational tools, and responsive local support.
| Broker | Minimum Deposit | Demo Account | Education and Webinars | Local MYR Funding | Ideal For |
 | None | Yes | Extensive beginner tutorials, trading guides | Yes | New traders looking for bonuses and guidance |
 | 100 USD | Yes | Trading education, daily analysis | Yes | Beginners wanting low spreads and support |
| 100 USD | Yes | Webinars and e-books for Southeast Asian traders | Yes | Traders learning technical analysis |
 | 200 USD | Yes | MT4/MT5 platform tutorials | Yes | Tech-focused beginners and scalpers |
| None | Yes | Paper Trading account and learning portal | Yes | Long-term investors and passive traders |
For Malaysian beginners, HFM and FP Markets are standout choices thanks to their easy account setup, MYR deposit options, and strong educational resources. Tickmill also offers local support and regional training, making it ideal for traders who want to learn step-by-step.
4. 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 | ⭐⭐⭐⭐☆ |
5. 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 | ⭐⭐⭐⭐☆ |
5 Best Forex Brokers in Malaysia – Market Matchup
| Top-tier global regulation Huge range of instruments Competitive low commissions | | |
| Strong local presence in Malaysia Offers multi-lingual customer support Loyalty Programs in Asia | | |
 | Education for Southeast Asian traders Flexible leverage Strong reputation | | |
| Local Malaysian funding methods MetaTrader 4, 5 and cTrader High liquidity | | |
 | MT4, MT5, IRESS Localized payment methods for Malaysia Multilingual customer service | | |
Best Forex Brokers in Malaysia by Category
| Category | Broker | Standout Feature |
| Best Overall | | Tight spreads, strong U.S. regulation |
| Lowest Spreads | | 0.0 pip ECN execution |
| Best Mobile Experience | | Smooth MT4/5 WebTrader performance |
| Best for Islamic Traders | | Full swap-free structure |
| Fastest Execution | | Low-latency servers, LFSA-regulated |
These brokers lead their categories based on transparency, pricing, and platform quality.
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?
Islamic Forex Accounts in Malaysia
Islamic (swap-free) accounts comply with Sharia principles, avoiding overnight interest (riba).
| Broker | Account Type | Key Features |
| Swap-Free Cent Premium Zero | Supports MYR deposits promotions |
| Islamic on All Accounts | No interest; same spreads |
| Swap-Free MT4/MT5 | Supports major instruments |
| Swap-Free MT4/MT5/cTrader | Instant execution, no hidden fees |
These accounts allow Muslim traders to participate ethically while enjoying full trading access.
Best Forex Trading Apps in Malaysia
Mobile trading is a major trend in Malaysia, as more traders prefer to analyze charts and execute trades directly from their phones. The best forex trading apps combine speed, convenience, and full account access, making them perfect for trading anytime, anywhere.
| Broker | Mobile App | Key Features | App Store Rating | Available Platforms |
 | FP Markets App | Full MT4/MT5 integration, deposit and withdrawal tools, alerts | 4.5 | iOS Android |
| cTrader MT5 App | One-click trading, advanced charting, low-latency execution | 4.6 | iOS Android |
| HFM App | Multi-lingual interface, live news feed, built-in analysis tools | 4.4 | iOS Android |
| MetaTrader Mobile | Fast execution, easy chart customization, local login options | 4.3 | iOS Android |
| IBKR Mobile | Portfolio management, advanced order types, global assets | 4.7 | iOS Android |
Malaysian traders seeking smooth mobile performance should consider FP Markets and IC Markets, both known for fast execution and intuitive interfaces. HFM’s app also stands out for offering localized language support and an integrated news hub for active mobile traders.
Pros and Cons of Forex Trading in Malaysia
| ✓ Pros | ✕ Cons |
| Legal with regulated brokers | Offshore scams still exist |
| Local MYR funding options | Limited local broker licenses |
| Swap-free Islamic accounts | Leverage increases risk |
| 24-hour market access | Requires education and patience |
| Global broker availability | Profit withdrawals can take time |
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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).
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.
