Forex trading or currency exchange online has become increasingly popular among Malaysia investors. Trading forex (currencies) in Malaysia is popular among residents. While any internationally regulated forex broker can accept clients from Malaysia, it is an additional benefit to also hold a Capital Markets Services License (CMSL) from the Securities Commission of Malaysia (SCM), which is the financial regulatory body in Malaysia.
It might sound surprising but trading Forex was illegal not long ago in Malaysia. Traders were actually serving jail time for investing in online trading! Great news, though, this is all far behind us now and you can trade 100% legally today and invest in any currency pair you wish. All you need is a reliable broker and this is where we come in to help you out with our recommended Malay forex brokers reviews.
Top Forex Brokers Malaysia
In order to find the top forex broker in Malaysia in 2023, our team of experienced traders have searched, tested and reviewed all internationally regulated forex brokers out there. The brokers have then been sorted and ranked for their features, trading conditions, performance and other ranking factors. Below you can find our list of best forex brokers in Malaysia.
Malaysian Forex Brokers Comparison
Below are the table reviews where you can easily compare Malaysian regulated forex and CFDs brokers one next to each other and find out the brokerage that suits you best. Our team at ForexExplore.com has worked hard to create this comprehensive list for you, so take full advantage of it!
| Broker | Min Deposit | Platforms | Payments | Leverage | Regulation | ||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| eToro | 1 | https://forexexplore.com/forex-brokers/etoro-review/ | 200 | 2 | - | https://forexexplore.com/forex-brokers/etoro-review/ | eToro Platform | no | yes | Credit Cards, Debit Cards, Paypal, Neteller, Skrill, Webmoney, Wire Transfer | 1:30; 1:1 for Crypto Currencies | English, Spanish, Italian, Portuguese, Russian, Chinese, Arabic, German | no | yes | CySec, NFA | yes | yes | 1 | 0 | 1 | 0 | 0 | 0 | ||||||||
| AGEA | 0 | https://forexexplore.com/forex-brokers/agea-reviews/ | 1 | 3 | $5 no-deposit bonus | https://forexexplore.com/forex-brokers/agea-reviews/ | Streamster, MetaTrader 4 | yes | yes | Credit Cards, Wire, Skrill, Webmoney, e-Dinar, Neteller, FasaPay, Perfect Money | 1:500 | English | no | yes | 1 | 0 | 1 | 0 | 0 | 1 | |||||||||||
| AvaTrade | 8 | http://www.avatrade.com/?tag=1574 | 100 | 1 | 100% | yes | https://forexexplore.com/forex-brokers/avatrade-review/ | AvaTrader, MetaTrader 4, MetaTrader Floating Spread, Mac Trading, Web Trading, Mobile Trading, Automatic Trading, AvaOptions | yes | yes | Credit Cards, Debit Cards, Skrill, Wire Transfer, PayPal, Neteller, WebMoney | 1:400 | English, Chinese, Arabic, Spanish, French, Italian, Portuguese, German, Indonesian | no | yes | Central Bank of Ireland, ASIC, Financial Services Commission of British Virgin Island | no | yes | no | yes | yes | yes | 1 | 0 | 1 | 0 | 1 | 1 | |||
| CMCMarkets | 2 | https://forexexplore.com/forex-brokers/cmc-markets-review/ | 1 | 0.7 | - | https://forexexplore.com/forex-brokers/cmc-markets-review/ | Next Generation web-based | yes | no | Credit cards, Wire Transfer | 500:1 | English, Chinese, French, Spanish, German | no | no | FCA | no | no | no | 1 | 0 | 0 | 0 | 0 | 1 | |||||||
| Tifia | 1 | https://forexexplore.com/forex-brokers/tifia-review/ | 10 | 2.5 | https://forexexplore.com/forex-brokers/tifia-review/ | Metatrader 4, webtrader | yes | yes | wire transfer, credit cards, skrill, neteller, perfect money, fasapay, okpay | 1:1,000 | no | yes | Vanuatu Financial Services Commission VFSC | yes | yes | no | yes | 1 | 1 | 0 | 0 | 0 | 1 | ||||||||
| LiteFinance | 8 | https://www.litefinance.com/?uid=900002841 | 10 | 3 | 30% + 15% | yes | https://forexexplore.com/forex-brokers/litefinance-review/ | Metatrader 4, Metatrader 5, WebTerminal | yes | yes | Skrill, Webmoney, Bitcoin, Advcash, Credit Card | 1:500 | English, Russian, Chinese, Malaysian, German, Arabic, Partugese, Spanish, French, Hebrew, Japanese, Greek | no | yes | CySEC, Marshal Islands Business Corporation Act. | yes | no | yes | yes | yes | yes | yes | yes | yes | 1 | 1 | 1 | 0 | 0 | 1 |
| InstaForex | 7 | https://www.instaforex.com/?x=JR | 1 | 0.6 | $100 No Deposit Bonus | yes | https://forexexplore.com/forex-brokers/instaforex-review/ | MetaTrader 4, Metatrader 5, Webtrader | yes | yes | Some local Bank transfers, PayCo, AstroPay, Cryptocurrency | 1:1,000 | English, Russian | yes | yes | RAFMM | yes | yes | yes | yes | 1 | 1 | 1 | 0 | 0 | 1 | |||||
| Dukascopy | 4 | https://forexexplore.com/forex-brokers/dukascopy-reviews/ | 250 | 0.5 | - | yes | https://forexexplore.com/forex-brokers/dukascopy-reviews/ | Dukascopy | yes | yes | Wire, Bank Guarantee, Standby letter of Credit Segregated Accounts | 1:500 | English, French, German, Russian, Spanish, Chinese, Japanese, Arabic | KPMG ARIF | yes | 1 | 1 | 0 | 1 | 0 | 1 | ||||||||||
| RealTrade | 1 | https://forexexplore.com/forex-brokers/realtrade-reviews/ | 20 | 3 | 30% welcome bonus | https://forexexplore.com/forex-brokers/realtrade-reviews/ | MetaTrader 4 | no | yes | Credit Cards, WebMoney, and Wire Transfer | 1:500 | English, Russian | no | no | no | no | no | yes | 0 | 0 | 0 | 0 | 0 | 1 | |||||||
| FxPro | 5 | https://forexexplore.com/forex-brokers/fxpro-review/ | 100 | 0.5 | up to $1,000 | yes | https://forexexplore.com/forex-brokers/fxpro-review/ | FxPro cTrader, FxPro cTrader Web, MT4 Client Terminal, MT4 MultiTerminal, MT4 WebTrader, MT4 Premium | yes | yes | Credit/Debit Card, Bank Wire, PayPal, Neteller, Skrill | 1:500 | Arabic, Chinese, English, French, German, Greek, Hungarian, Italian, Japanese, Korean, Polish, Portuguese, Russian, Spanish and Vietnamese | no | no | FCA, CySEC | yes | yes | no | yes | 1 | 0 | 1 | 0 | 1 | 1 | |||||
| FXOpen | 1 | https://www.fxopen.com/ | 1 | 2 | $100 | https://www.forexexplore.com/forex-brokers/fxopen-reviews | MetaTrader 4 | no | yes | Wire, WebMoney, AlertPay, CashU, c-gold, PerfectMoney | 1:500 | English | no | no | ASIC, FCA UK, Financial Dispute Resolution Scheme | yes | yes | no | yes | yes | 1 | 1 | 1 | 0 | 0 | 1 | |||||
| PrimeXBT | 4 | https://go.primexbt.com/click?pid=2298&offer_id=12 | 1 | https://www.forexexplore.com/forex-brokers/primexbt-review | PrimeXBT, Turbo | yes | no | Credit Cards | 1:1000 | yes | ASIC | yes | yes | yes | yes | 0 | 0 | 0 | 0 | 0 | 1 | ||||||||||
| ActivTrades | 2 | https://www.forexexplore.com/forex-brokers/activtrades-reviews | 100 | 2 | https://www.forexexplore.com/forex-brokers/activtrades-reviews | Metatrader 4, Activtrader | yes | yes | Credit Card, Wire transfer, neteller, skrill, sofort | 1:400 | English, German, Spanish, Italian, French, Portuguese | no | no | FCA | 1 | 0 | 0 | 0 | 0 | 1 | |||||||||||
| House of Borse | 1 | https://www.forexexplore.com/forex-brokers/house-of-borse-review | 50000 | 0.8 | https://www.forexexplore.com/forex-brokers/house-of-borse-review | MetaTrader 4 | no | yes | credit cards, wire transfer | 1:100 | no | no | FCA UK | yes | yes | yes | 1 | 0 | 0 | 0 | 0 | 0 | |||||||||
| FXDD | 3 | http://www.fxdd.com/ | 100 | 2 | - | https://www.forexexplore.com/forex-brokers/fxdd-reviews | MetaTrader4, FXDD Trader, Power Trader, FXDD Auto, MTXtreme | no | yes | Wire, PayPal, Check, BPS | 1:200 | English, Chinese, Japanese, Russian, Spanish, Portuguese, German, French, Turkish, Arabic, Vietnamese | yes | Malta Financial Services Authority (MFSA) | yes | 1 | 1 | 1 | 0 | 0 | 0 | ||||||||||
| FXCM | 5 | https://www.forexexplore.com/forex-brokers/fxcm-review | 250 | 2 | - | yes | https://www.forexexplore.com/forex-brokers/fxcm-review | Trading Station II, MetaTrader 4, Active Trader, Forex System Selector | no | yes | Credit/Debit card, Online Check, Bank Wire, Paper Check | 1:200 | Spanish, French, Chinese, Russian, Portuguese, German, Italian, Arabic | yes | UK Financial Conduct Authority, AFSL | yes | yes | yes | yes | 1 | 0 | 1 | 0 | 0 | 0 | ||||||
| Hotforex | 2 | https://www.forexexplore.com/forex-brokers/hotforex-review | 5 | 2 | 100% bonus | https://www.forexexplore.com/forex-brokers/hotforex-review | Metatrader 4, mobile platform, rapid trader fix/api | yes | yes | credit cards, skrill, Unionpay, neteller, wire transfer, webmoney, fasapay | 1:1,000 | no | no | yes | no | yes | 0 | 0 | 1 | 0 | 0 | 1 | |||||||||
| Oanda | 3 | https://www.forexexplore.com/forex-brokers/oanda-reviews | 1 | 1.4 | https://www.forexexplore.com/forex-brokers/oanda-reviews | Metatrader 4, FXtrade | yes | yes | check, Credit cards, PayPal, Wire transfer | 1:50 | English, Chinese, German, Spanish, French, Italian, Portuguese and Russian | yes | no | NFA | no | no | no | yes | yes | 1 | 0 | 0 | 0 | 0 | 0 | ||||||
| Saxo Bank | 2 | http://www.saxobank.com | 5000 | 2 | n/a | https://www.forexexplore.com/forex-brokers/saxobank-reviews | SaxoTrader | no | yes | Wire | 1:100 | English, Belgium, German, French, Spanish, Italian, Arabic, Romanian, Russian, Polish | Danish Financial Services Authority and operates in the UAE | 1 | 0 | 0 | 0 | 0 | 0 | ||||||||||||
| Forex.com | 4 | http://www.forex.com/ | 50 | 2 | - | https://www.forexexplore.com/forex-brokers/forex-reviews | ForexTrader platform (in-house), MetaTrader 4 | yes | yes | wire transfer, Credit/Debit Card, Check | 1:200 | English, Russian, Japanese, Arabic, Turkish, German, Chinese, Albanian, Thai, Italian, Hebrew, Greek | yes | no | CFTC, NFA, FCA (UK), ASIC (Australia), ILLROC (Canada), SFC (Hong Kong), FFAJ (Japan) | yes | yes | no | yes | 1 | 0 | 0 | 0 | 0 | 0 | ||||||
| HYCM | 4 | https://www.forexexplore.com/forex-brokers/hycm-reviews | 100 | 2 | 25% up to $5,000 | https://www.forexexplore.com/forex-brokers/hycm-reviews | Metatrader 4 | no | no | credit cards, wire transfer, Skrill, webmoney | 1:400 | English, Chinese, Arabic | no | no | FCA UK, CySEC, SFC | no | no | no | yes | 1 | 0 | 0 | 0 | 1 | 1 | ||||||
| AdmiralMarkets | 1 | https://forexexplore.com/forex-brokers/admiral-markets-reviews/ | 10 | 3 | n/a | https://forexexplore.com/forex-brokers/admiral-markets-reviews/ | MetaTrader 4 | no | yes | Wire | 1:200 | English, Spanish, Russian, Lithuanian, Romanian, Latvian, Bulgarian, Greek, Croatian, Polish, Hungarian, Czech, Italian, Estonian, German, Finnish, Portuguese | 0 | 0 | 1 | 0 | 0 | 0 | |||||||||||||
| Alpari | 2 | https://forexexplore.com/forex-brokers/alpari-review/ | 1 | 2 | 50% Welcome | https://forexexplore.com/forex-brokers/alpari-review/ | MetaTrader 4 | no | yes | Debit or Credit Card, Wire Transfer | 1:500 | English, Chinese, German, and Arabic | yes | yes | 0 | 1 | 1 | 0 | 0 | 1 | |||||||||||
| Fort Financial Services | 1 | https://forexexplore.com/forex-brokers/fort-financial-reviews/ | 5 | 3 | https://forexexplore.com/forex-brokers/fort-financial-reviews/ | MetaTrader 4, CQG, Ninja trader, binary options | yes | yes | Credit cards, webmoney, Skrill, Neteller, perfect money, fasapay, wire transfer | 1:1,000 | English | no | no | IFSC | yes | yes | no | yes | 1 | 1 | 0 | 0 | 0 | 1 | |||||||
| Blackwell Global | 2 | https://forexexplore.com/forex-brokers/blackwell-global-review/ | 2000 | 3 | - | https://forexexplore.com/forex-brokers/blackwell-global-review/ | MetaTrader 4, Blackwell Pro, Mobile | yes | yes | redit/debit cards, Neteller, Skrill, Wire transfer | 1:200 | Arabic, Chinese, English, Greek, Italian, Korean, French, Romanian | Financial Conduct Authority | 1 | 0 | 1 | 0 | 0 | 0 | ||||||||||||
| AAAfx | 2 | https://forexexplore.com/forex-brokers/aaafx-reviews/ | 300 | 0.2 | up to 30% | https://forexexplore.com/forex-brokers/aaafx-reviews/ | ZTP, MetaTrader 4, Binary options webtrader, Zulutrade | yes | yes | Wire, Credit Card, Skrill, Neteller, giropay, EPS, directpay24, teleingreso, ideal, qiwi, Bitcoin | 1:200 | Arabic, Chinese, English, French, German, Greek, Italian, Japanese, Russian | no | yes | HCMC (Greece) | yes | 1 | 0 | 0 | 0 | 0 | 0 | |||||||||
| XTB | 2 | https://forexexplore.com/forex-brokers/xtb-reviews/ | 250 | 2 | https://forexexplore.com/forex-brokers/xtb-reviews/ | Metatrader 4, xStation, xMobile | yes | yes | Credit cards, Neteller, Paypal, Skrill, Wire transfer | 1:200 | no | no | CNMV (Spain), FCA (UK), FSA (Poland) | yes | yes | no | yes | 1 | 0 | 0 | 0 | 0 | 0 | ||||||||
| iFOREX | 3 | https://forexexplore.com/forex-brokers/iforex-reviews/ | 100 | 3 | - | https://forexexplore.com/forex-brokers/iforex-reviews/ | FXnet Trader | yes | yes | credit cards, wire transfer | 1:400 | English, Hebrew, Indonesian, German, Spanish, French, Italian, Nederlands, Portuguese, Romanian, Turkish, RUssian, Arabic, Chinese, Japanese | no | no | HFSA in Hungary, CySEC | no | no | no | 1 | 0 | 1 | 0 | 0 | 1 | |||||||
| Oinvest | 0 | https://forexexplore.com/forex-brokers/oinvest-review/ | 200 | 0.7 | Samsung Galaxy, iPhone | no | https://forexexplore.com/forex-brokers/oinvest-review/ | Metatrader 4 | yes | yes | Skrill, Neteller, Credit Cards | 1:200 | no | yes | yes | yes | yes | yes | yes | yes | yes | yes | yes | yes | 1 | 1 | 1 | 0 | 0 | 0 | |
| Plus500 | 5 | https://forexexplore.com/forex-brokers/plus500-reviews/ | 500 | 2 | 30% | yes | https://forexexplore.com/forex-brokers/plus500-reviews/ | Plus500 | yes | no | Skrill, Credit Cards, Wire Transfer | 1:200 | English, Hebrew, Arabic | Israel Securities Authority | 1 | 0 | 0 | 0 | 1 | 0 | |||||||||||
| TraderTrust | 1 | http://traders-trust.com/ | 100 | as low as 2 | 100% upto $5,000 | https://www.forexexplore.com/forex-brokers/tradertrust-reviews | SmartForex | no | yes | Skrill, Credit Cards | 1:200 | English, Russian, Italian, and Arabic | CySec, VFCS | yes | 1 | 0 | 0 | 0 | 0 | 0 | |||||||||||
| AdvancedMarkets | 3 | https://www.forexexplore.com/forex-brokers/advancedmarkets-reviews | 500 | 0-2.5 | - | https://www.forexexplore.com/forex-brokers/advancedmarkets-reviews | Advanced Trader/Pro/Prime, Fortex FX | no | yes | Wire, Check | 1:50 | English, Spanish, Korean | Australian AFSL, ASIC | yes | 1 | 0 | 0 | 0 | 0 | 0 | |||||||||||
| XM | 8 | http://clicks.pipaffiliates.com/afs/come.php?id=27&cid=3689&ctgid=16&atype=1 | 5 | 1 | $30 no deposit | yes | https://www.forexexplore.com/forex-brokers/xm-review | MetaTrader 4, Metatrader 5, XM Webtrader | yes | yes | Credit/Debit Card, Neteller, Skrill, WebMoney, Bank Wire Transfer | 1:888 | Arabic, Chinese, English, French, German, Greek, Hungarian, Indonesian, Italian, Japanese, Malay, Korean, Polish, Portuguese, Russian, Spanish, Swedish, Turkish, Thai, Vientamese | no | CySEC, ASIC Australia, IFSC Belize | no | yes | yes | no | yes | no | 1 | 0 | 1 | 0 | 1 | 1 | ||||
| Anzo Capital | 2 | https://anzocapital.com/ | 100 | 2 | https://www.forexexplore.com/forex-brokers/anzo-capital-review | MetaTrader 4 | yes | yes | Webmoney, Skrill, Neteller, Credit Cards | 1:1000 | English, Chinese | no | no | yes | yes | yes | yes | yes | no | no | yes | no | no | 1 | 1 | 0 | 0 | 0 | 1 | ||
| MEX Exchange | 1 | https://www.mexexchange.com/ | 25 | 0.2 | https://www.forexexplore.com/forex-brokers/mex-exchange-review | Metatrader 4 | no | yes | Neteller, Skrill, Fasapay, UnionPay, Credit Cards, Wire Transfer | 1:500 | no | no | ASIC | yes | yes | yes | yes | 1 | 1 | 0 | 0 | 0 | 1 | ||||||||
| FBS | 1 | https://www.forexexplore.com/forex-brokers/fbs-review | 1 | from 0,2 pips fixed/floating | $123 Welcome Bonus | https://www.forexexplore.com/forex-brokers/fbs-review | MetaTrader 4, Metatrader 5, Webtrading | yes | yes | credit cards, fasapay, Indonesia local banks, Neteller, okpay, perfectmoney, Skrill, Webmoney, wire transfer, Thai local banks, Exchangers, Malaysian banks and Bitcoin by Skrill | up to 1:3,000 | English, Bahasa Indonesia, Bahasa Malyasian, Russian, Spanish, Portuguese, Arabic, Vietnamese, Bengali, Lithuanian, Korean, Chinese, Thai, Tamil | IFSC; Cysec | yes | yes | yes | yes | 1 | 0 | 1 | 0 | 0 | 1 | ||||||||
| FP Markets | 3 | http://go.fpmarkets.com/visit/?bta=35186&nci=5369 | 200 | starting from 0 | 10% credit bonus | https://www.forexexplore.com/forex-brokers/fpmarkets-review | MetaTrader 4 (MT4), IRESS, Mobile trading | yes | yes | credit cards, UnionPay, Neteller, Skrill (3% fee), Wire transfer, BPay and broker-to-broker transfer | 1:500 | English, Bahasa Melayu, French, Finish, Chinese, Norwegian, Russian, Thai, Italian, German, Portuguese, Spanish and Swedish | no | yes | ASIC | yes | yes | yes | yes | yes | 1 | 1 | 0 | 0 | 1 | 1 | |||||
| DFMarkets | 3 | http://www.dfmarkets.co.uk | 100 | from 0.1 pips | 10% Trading Credit Promotion up to $1,000 | https://www.forexexplore.com/forex-brokers/dfmarkets-reviews | DFTrader, DF WebTrader, DF Mobile | yes | yes | Bank wire, Credit/Debit cards | 1:200 | English | no | no | FCA | no | no | no | yes | yes | 1 | 0 | 0 | 0 | 0 | 0 | |||||
| EasyMarkets | 2 | http://www.easymarkets.com | 100 | 2.5 | https://www.forexexplore.com/forex-brokers/easymarkets-review | Metatrader 4, EasyMarkets web-based platform | yes | yes | credit cards, neteller, Skrill, Webmney, wire transfer | 1:100 | no | no | ASIC (Australia), CySEC (Cyprus) | no | no | no | yes | 1 | 0 | 1 | 0 | 0 | 0 | ||||||||
| OctaFX | 9 | http://octaengine.com/c/?p=566&bt=gif&b=2368 | 50 | from 0.2 | up to 50% | yes | https://www.forexexplore.com/forex-brokers/octafx-reviews | MetaTrader 4, Metatrader 5, cTrader | yes | yes | Neteller, Skrill, Fasapay, Visa, Mastercard, Malaysian, Vietnamese, Indian, Indonesian, Bangladeshi local banks, Bitcoin, Unionpay | 1:500 | English | yes | FCA UK | yes | yes | yes | yes | yes | 1 | 1 | 0 | 0 | 1 | 1 | |||||
| IronFX | 4 | https://www.forexexplore.com/forex-brokers/ironfx-reviews | 100 | 0 | 40% | yes | https://www.forexexplore.com/forex-brokers/ironfx-reviews | Metatrader 4 | yes | yes | credit cards, Fasapay, neteller, qiwi, skrill, webmoney, wire transfer | 1:500 | English | no | yes | ASIC, CySEC, DFSA, FCA UK, FSB, UCRFIN, CRFIN, Member of Eurex Exchange, Consob, BaFIN | yes | yes | yes | 1 | 1 | 0 | 0 | 0 | 1 | ||||||
| FxGlory | 0 | https://forexexplore.com/forex-brokers/fxglory-review/ | 1 | 0.5 | 50% up to $1,000 | https://forexexplore.com/forex-brokers/fxglory-review/ | MetaTrader4, Mobile | no | yes | Credit/debit cards, Paypal, Bitcoin | 1:3,000 | English | yes | 0 | 0 | 0 | 0 | 0 | 1 | ||||||||||||
| TrioMarkets | 0 | https://forexexplore.com/forex-brokers/triomarkets-review/ | 100 | 3 | - | https://forexexplore.com/forex-brokers/triomarkets-review/ | MetaTrader 4, Sirix Webtrader | yes | yes | Credit Card, Wire, Skrill, Neteller, Paypal and CashU | 1:300 | English, Arabic, French, Italian, German | no | yes | CySEC | no | yes | no | 1 | 0 | 1 | 0 | 0 | 0 | |||||||
| CityIndex | 2 | https://forexexplore.com/forex-brokers/cityindex-review/ | 100 | 2 | - | https://forexexplore.com/forex-brokers/cityindex-review/ | MT4 (MetaTrader 4), Advantage Web, Advantage Trader, iPhone, Android, Windows Phone App, iPad and Tablet App | yes | yes | Credit/Debit Cards | 1:400 | English | Trademark of GAIN Capital UK Ltd - Regulated by FCA | yes | yes | 1 | 0 | 0 | 0 | 0 | 1 | ||||||||||
| Markets.com | 2 | https://forexexplore.com/forex-brokers/markets-com-review/ | 100 | 2 | up to $2,000 | https://forexexplore.com/forex-brokers/markets-com-review/ | Meta Trader 4,MarketTrader, Market WebTrader, Market Java Trader, Market Mobile Trader, Market WAP Trader, Market iTrader, Market AutoTrader | yes | yes | Credit/Debit Cards, Wire Transfer, Webmoney, Local Payments | 1:200 | English, French, Spanish, German, Russian, Italian, Chinese, Arabic, Turkish, Portuguese, Japanese, Polish, Greek, Dutch, Swedish | CySEC, FSCA South Africa | yes | yes | 1 | 1 | 1 | 0 | 0 | 0 | ||||||||||
| Orbex | 0 | https://forexexplore.com/forex-brokers/orbex-review/ | 500 | 1.6 | https://forexexplore.com/forex-brokers/orbex-review/ | MetaTrader 4 | no | yes | Skrill, Neteller, Wire Transfer, Credit Cards, CashU, Webmoney | 1:500 | English, Arabic, Bengali, Spanish, German, Russian, Chinese, Bulgarian, Urdu, Greek | no | no | CySEC | yes | yes | no | 1 | 1 | 0 | 0 | 0 | 1 | ||||||||
| CMTrading | 4 | https://forexexplore.com/forex-brokers/cmtrading-review/ | 200 | 2 | 15% match | https://forexexplore.com/forex-brokers/cmtrading-review/ה | MetaTrader 4, Sirix | yes | yes | credit/debit cards, Wire transfer, CashU ,Skrill | 1:400 | Financial Services Board (FSB) South Africa | 1 | 0 | 0 | 0 | 0 | 1 | |||||||||||||
| Accent Forex | 0 | https://forexexplore.com/forex-brokers/accentforex-review/ | 10 | 3 | 50% | no | https://forexexplore.com/forex-brokers/accentforex-review/ | MetaTrader 4 | no | yes | WebMoney, OkPay, Skrill, Wire Transfer, Credit Cards | 1:500 | English | 0 | 0 | 0 | 0 | 0 | 1 | ||||||||||||
| Grand Capital | 0 | https://forexexplore.com/forex-brokers/grandcapital-review/ | 10 | 2 | $500 no deposit | https://forexexplore.com/forex-brokers/grandcapital-review/ | MetaTrader 4, WebTrader | yes | yes | Credit card, Neteller, Webmoney, CashU, Fasapay, Scrill, Webmoney | 500:1 | English, Russian, Chinese, Indonesian | yes | no | Financial Commission FinaCom, EDR Hong Kong external dispute resolution organization | yes | no | no | 1 | 0 | 1 | 0 | 0 | 1 | |||||||
| Simplefx | 1 | https://forexexplore.com/forex-brokers/simplefx-reviews/ | 1 | 1 | https://forexexplore.com/forex-brokers/simplefx-reviews/ | MetaTrader 4 and in-house web-based platform | yes | yes | Wire transfer, Credit/debit cards, Skrill, Neteller, Astropay, Webmoney, FasaPay, Qiwi, Moneta, ru, Yandex, China UnionPay, Bitcoin and litecoin | 1:100 | no | no | no | no | no | no | yes | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||
| Alvexo | 0 | https://forexexplore.com/forex-brokers/alvexo-review/ | 5000 | 3.3 | - | https://forexexplore.com/forex-brokers/alvexo-review/ | MetaTrader 4, WebTrader, Mobile | yes | yes | Cash-U, Credit Card, Webmoney, Wire Transfer | 400:1 | English, French | no | no | CySEC | yes | yes | 1 | 0 | 0 | 0 | 0 | 1 | ||||||||
| NSFX | 0 | https://forexexplore.com/forex-brokers/nsfx-review/ | 300 | 3 | https://forexexplore.com/forex-brokers/nsfx-review/ | Metatrader 4, Webtrader, NSFX Jforex platform | yes | yes | credit cards, Skrill, CashU and wire transfer | 200:1 | English, Arabic, German, Turkish and Italian | no | no | MFSA | yes | yes | no | 1 | 0 | 0 | 0 | 0 | 0 | ||||||||
| Synergy FX | 1 | https://forexexplore.com/forex-brokers/synergyfx-reviews/ | 500 | 2 | https://forexexplore.com/forex-brokers/synergyfx-reviews/ | MetaTrader 4 | no | yes | credit cards, skrill, wire transfer | 1:500 | no | yes | ASIC, AFSL | yes | yes | yes | yes | 1 | 0 | 0 | 0 | 0 | 1 | ||||||||
| FXGrow | 0 | https://forexexplore.com/forex-brokers/fxgrow-review/ | 100 | 0.8 | - | https://forexexplore.com/forex-brokers/fxgrow-review/ | MetaTrader 4, NetStation | yes | yes | Credit/Debit cards, Skrill, Neteller, OkPay, CashU, WireTransfer | 200:1 | English | 0 | 0 | 1 | 0 | 0 | 0 | |||||||||||||
| Juno Markets | 0 | https://forexexplore.com/forex-brokers/juno-markets-review/ | 500 | 3 | - | https://forexexplore.com/forex-brokers/juno-markets-review/ | MetaTrader 4 | no | yes | neteller, skrill, credit cards, wire transfer | 1:400 | English | no | no | FinaCom | no | yes | no | 1 | 0 | 0 | 0 | 0 | 1 | |||||||
| Tickmill | 3 | https://forexexplore.com/forex-brokers/tickmill-review/ | 100 | 1.2 | - | https://forexexplore.com/forex-brokers/tickmill-review/ | MetaTrader 4, Webtrader | yes | yes | wire transfer (commission are charged), credit/debit cards, Skrill, Neteller, FasaPay, UnionPay and WebMoney | 1:500 | no | yes | FCA UK, FSA Seychelles | yes | yes | no | yes | 1 | 1 | 1 | 0 | 1 | 1 | |||||||
| TeleTrade | 0 | https://forexexplore.com/forex-brokers/teletrade-review/ | 2000 | 5 | 24% | https://forexexplore.com/forex-brokers/teletrade-review/ | MetaTrader 4, Mobile | no | yes | credit cards, Wire transfer, Neteller, Skrill | 1:200 | English, Russian | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||
| Financika | 1 | https://forexexplore.com/forex-brokers/financika-reviews/ | 250 | 2 | https://forexexplore.com/forex-brokers/financika-reviews/ | Profit, WebProfit, MetaTrader 4 | yes | yes | credit cards, wire transfer | 200:1 | no | no | no | no | no | no | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||
| TenkoFX | 3 | https://forexexplore.com/forex-brokers/tenkofx-review/ | 10 | 3 | https://forexexplore.com/forex-brokers/tenkofx-review/ | MetaTrader 4, Webtrader | yes | yes | Skrill, Neteller, FasaPay, Webmoney, Yandex Money, Qiwi | 1:500 | English | no | no | International Financial Services Commission of Belize | yes | yes | no | 1 | 0 | 0 | 0 | 0 | 1 | ||||||||
| KGIeworld | 0 | https://www.forexexplore.com/forex-brokers/kgieworld-review | 1000 | 3 | - | https://www.forexexplore.com/forex-brokers/kgieworld-review | MetaTrader 4 | no | yes | Wire Transfer, Check | 1:50 | English | no | no | MAS | no | yes | no | 1 | 0 | 0 | 0 | 0 | 0 | |||||||
| Abshire-Smith | 0 | http://www.abshire-smith.com/ | 500 | 1.8 | https://www.forexexplore.com/forex-brokers/abshire-smith-reviews | Vertex fx, Metatrader 4, straticator | no | yes | CashU, Neteller, Skrill, Wire Transfer | 1:200 | no | no | FCA | yes | 1 | 0 | 1 | 0 | 0 | 0 | |||||||||||
| Alfa Financial | 0 | http://www.alfafinancials.com | 10000 | $1 plus $15 commissions | https://www.forexexplore.com/forex-brokers/alfa-financial-review | MetaTrader 4, AX1Trader | yes | yes | 1:100 | English | no | no | Central Bank UAE | yes | 1 | 0 | 0 | 0 | 0 | 0 | |||||||||||
| Blueberry Markets | 4 | https://www.blueberrymarkets.com | 100 | 1.5 | https://www.forexexplore.com/forex-brokers/blueberry-markets-reviews | MetaTrader 4 | no | yes | credit cards, wire transfer, POLi, Skrill | 1:500 | no | no | ASIC | yes | yes | yes | yes | 1 | 1 | 0 | 0 | 0 | 1 | ||||||||
| CIBfx | 0 | http://www.cibfx.com | 100 | 1 | https://www.forexexplore.com/forex-brokers/cibfx-review | MetaTrader 4 | yes | yes | Paypal, Skill, Credit Cards, Neteller | 1:200 | no | no | VSFC | no | yes | no | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||
| BlackBull Markets | 6 | https://go.blackbullmarkets.com/visit/?bta=39396&brand=blackbull | 200 | 0.8 | yes | https://www.forexexplore.com/forex-brokers/blackbull-markets-review | Metatrader 4, Metatrader 5 | yes | yes | Bank Transfer, Credit Card Payments (Visa, MasterCard), Skrill, Neteller, China Union Pay, FasaPay | 1:500 | yes | no | Financial Services Provider | yes | yes | yes | no | yes | yes | yes | 1 | 0 | 0 | 0 | 0 | 0 | ||||
| Darwinex | 0 | https://www.darwinex.com/ | 500 | 1 | https://www.forexexplore.com/forex-brokers/darwinex-review | MetaTrader 4, cTrader | yes | yes | Bank Wire, Credit Cards, UnionPay | 1:200 | no | yes | FCA | yes | 1 | 0 | 0 | 0 | 0 | 0 | |||||||||||
| Eightcup | 0 | https://www.eightcap.com/ | 100 | 1 | https://www.forexexplore.com/forex-brokers/eightcap-review | Metatrader 4 | no | yes | 1:500 | no | no | ASIC | yes | yes | no | yes | 1 | 1 | 0 | 0 | 1 | 1 | |||||||||
| ETX Capital | 0 | https://www.etxcapital.com/ | 100 | 1 | https://www.forexexplore.com/forex-brokers/etxcapital-review | ETX Trader Pro, Metatrader 4, ETX binary | yes | yes | credit cards, wire transfer, firopay, neteller, skrill, sofort, china unionpay | 1:200 | no | no | FCA | no | no | no | 1 | 0 | 0 | 0 | 0 | 0 | |||||||||
| FCI Markets | 1 | http://www.fci-markets.co.uk/ | 250 | 0.2 | https://www.forexexplore.com/forex-brokers/fci-markets-reviews | Currenex, FCI NetStation, MetaTrader 4 | yes | yes | credit cards, neteller, skrill, wire transfer | 1:100 | no | yes | FCA | yes | yes | no | 1 | 1 | 0 | 0 | 0 | 0 | |||||||||
| Fortrade | 1 | https://www.fortrade.com/ | 500 | 3 | https://www.forexexplore.com/forex-brokers/fortrade-reviews | Fortrader | yes | yes | wire transfer, credit cards, skrill, neteller | 1:200 | no | no | FCA | no | no | no | yes | 1 | 0 | 0 | 0 | 0 | 0 | ||||||||
| FX Giants | 1 | https://forexexplore.com/forex-brokers/fxgiants-reviews/ | 500 | 2.2 | https://forexexplore.com/forex-brokers/fxgiants-reviews/ | MetaTrader 4 | no | yes | credit cards, neteller, paypal, skrill, unionpay, Webmoney, Wire Transfer | 1:500 | no | no | FCA | no | no | yes | 1 | 0 | 0 | 0 | 0 | 1 | |||||||||
| FXGlobe | 1 | https://forexexplore.com/forex-brokers/fxglobe-reviews/ | 250 | 0.7 | https://forexexplore.com/forex-brokers/fxglobe-reviews/ | MetaTrader 4 | no | yes | Credit cards, Neteller, Skrill, Wire transfer | 1:500 | no | no | CySEC | yes | no | yes | 1 | 1 | 0 | 0 | 0 | 1 | |||||||||
| FXonus | 1 | https://forexexplore.com/forex-brokers/fxonus/ | 500 | 3 | https://forexexplore.com/forex-brokers/fxonus/ | MetaTrader 4 | yes | yes | Credit Cards, Skrill, Neteller, Wire Transfer, China Union Pay | 1:500 | no | no | no | yes | no | no | 0 | 1 | 0 | 0 | 0 | 1 | |||||||||
| FXoro | 1 | https://forexexplore.com/forex-brokers/fxoro-reviews/ | 200 | 3 | https://forexexplore.com/forex-brokers/fxoro-reviews/ | Metatrader 4 | no | yes | credit cards, wire transfer, skrill, neteller, ecoPayz, CashU | 1:400 | no | no | CySEC | yes | no | no | 1 | 0 | 0 | 0 | 0 | 1 | |||||||||
| FXprimus | 1 | https://forexexplore.com/forex-brokers/fxprimus-reviews/ | 100 | 0.3 | https://forexexplore.com/forex-brokers/fxprimus-reviews/ | Metatrader 4 | no | yes | Bitcoin, China UnionPay, FasaPay, Neteller, Skrill, Wire Transfer | 1:500 | no | no | Cysec | yes | yes | yes | 1 | 1 | 0 | 0 | 0 | 1 | |||||||||
| Infinox | 1 | https://forexexplore.com/forex-brokers/infinox-reviews/ | 100 | 1.5 | https://forexexplore.com/forex-brokers/infinox-reviews/ | Metatrader 4 | no | yes | credit cards, wire transfer, skrill, neteller, china unionpay | 1:300 | no | bo | FCA UK | yes | yes | no | yes | 1 | 0 | 0 | 0 | 0 | 0 | ||||||||
| JCMFX | 1 | https://forexexplore.com/forex-brokers/jcmfx-review/ | 10 | 1.8 | https://forexexplore.com/forex-brokers/jcmfx-review/ | MetaTrader 4 | no | yes | credit cards, FasaPay, Wire Transfer, Neteller, Skrill | 1:1,000 | no | no | FSA | no | no | no | 1 | 0 | 0 | 0 | 0 | 1 | |||||||||
| Larson&Holz | 1 | https://forexexplore.com/forex-brokers/larson-holz-review/ | 100 | 0 | https://forexexplore.com/forex-brokers/larson-holz-review/ | Metatrader 4, Web Trader | yes | yes | credit cards, wire transfer, neteller, paypal, Yandex, liqpay, alfa click, beeline, mtc, perfect money | 1:500 | no | no | FMRRC, NAFD | yes | yes | no | 1 | 0 | 0 | 0 | 0 | 1 | |||||||||
| LCG | 1 | https://forexexplore.com/forex-brokers/lcg-reviews/ | 1 | 1.6 | https://forexexplore.com/forex-brokers/lcg-reviews/ | MetaTrader 4, LCG Trader (web-based, ECN accounts only) | yes | yes | wire transfer, debit/credit cards, Skrill | 1:500 | no | no | FCA UK | yes | yes | no | yes | 1 | 0 | 0 | 0 | 0 | 1 | ||||||||
| LMFX | 1 | https://www.lmfx.com/ | 50 | 1.8 | 100% match bonus, 15% recovery | https://www.forexexplore.com/forex-brokers/lmfx-review | Metatrader 4, Webtrader | yes | yes | credit cards, Fasapay, neteller, okpay, skrill, wire transfer | 1:1,000 | yes | no | no | yes | no | yes | yes | 0 | 0 | 0 | 0 | 0 | 1 | |||||||
| LQDFX | 1 | https://www.lqdfx.com/ | 20 | 1 | https://www.forexexplore.com/forex-brokers/lqdfx-review | MetaTrader 4, xStation | yes | yes | Wire transfer, Credit cards, Skrill, Neteller, Unipay, FasaPay, SoFort, iDeal | 1:500 | no | no | no | yes | yes | no | 0 | 0 | 0 | 0 | 0 | 1 | |||||||||
| Mahi FX | 1 | https://mahifx.com/ | 1 | 1 | https://www.forexexplore.com/forex-brokers/mahifx-reviews | Metatrader 4, MahiFX | yes | yes | wire transfer, credit cards | 1:100 | no | no | FCA UK, ASIC, FMA | no | no | no | yes | yes | 1 | 0 | 0 | 0 | 0 | 0 | |||||||
| Paxforex | 1 | https://paxforex.com/ | 10 | No deposit $7 bonus – cannot withdraw | https://www.forexexplore.com/forex-brokers/paxforex-reviews | MetaTrader 4 | no | yes | Credit cards, FasaPay, Neteller, OKPAY, Perfect Money, QIWI, Skrill, UnionPay, WebMoney, Wire Transfer | 1:500 | no | no | no | no | no | yes | 0 | 0 | 0 | 0 | 0 | 1 | |||||||||
| Pricemarkets | 1 | https://pricemarkets.com | 500 | 2.5 | https://www.forexexplore.com/forex-brokers/pricemarkets-review | MetaTrader 4 ECN, Currenex ECN, Integral FX, Liquid-x, Hotspot FX | yes | yes | wire transfer, credit cards | 1:400 | yes | no | FCA UK | yes | yes | yes | 1 | 0 | 0 | 0 | 0 | 1 | |||||||||
| Rallytade | 1 | https://www.forexexplore.com/forex-brokers/rallytrade-review | 100 | 1.6 | https://www.forexexplore.com/forex-brokers/rallytrade-review | Metatrader 4, xStation (web-based), xSocial, xOptions | yes | yes | credit cards, neteller, skrill, Interswitch, Pocketmoni, etraszact, perfectMoney, WebMoney, VoguePay | 1;1,000 | yes | yes | FinaCOM | no | no | no | 1 | 0 | 0 | 0 | 0 | 1 | |||||||||
| Range Markets | 1 | https://www.rangeforex.com/ | 100 | 3 | https://www.forexexplore.com/forex-brokers/range-markets-reviews | Metatrader 4 | no | yes | Neteller, Credit Cards, wire transfer | 1:500 | no | no | FSA of St. Vincent and the Grenadines | no | no | no | 1 | 0 | 0 | 0 | 0 | 1 | |||||||||
| Rekuten Securities | 1 | https://www.forexexplore.com/forex-brokers/rakuten-reviews | 1 | 0.7 | https://www.forexexplore.com/forex-brokers/rakuten-reviews | MarketSpeed FX, Trading Station (inherited from FXCM) | yes | yes | wire transfer, checks, ATM (only for local residents) | 1:50 | no | no | SFC | no | yes | no | yes | 1 | 0 | 0 | 0 | 0 | 0 | ||||||||
| Roboforex | 1 | http://www.roboforex.com/ | 1 | 2 | https://www.forexexplore.com/forex-brokers/roboforex-review | MetaTrader 4, cTrader | yes | yes | credit cards, QIWI wallet, webmoney, Yandex.money, RBK money, Skrill, FasaPay, CashU, Payoneer, China UnionPay, Neteller, Perfect Money | 1:500 | no | no | Cysec, IFSC, FSP, FSCL | yes | yes | no | 1 | 0 | 0 | 0 | 0 | 1 | |||||||||
| Swissmarkets | 0 | https://www.swissmarkets.com/?campaign=1341&p1=&p2=334&p3=6m8j8j7w#signup | 200 | 1.2 | https://www.forexexplore.com/forex-brokers/swissmarkets-review | Metatrader 4, Webtrader | yes | yes | credit cards, wire transfer, neteller, skrill, iDEAL, giropay | 1:500 | no | no | CySEC, MiFID | no | yes | no | 1 | 0 | 0 | 1 | 0 | 1 | |||||||||
| Trade360 | 0 | https://www.trade360.com/ | 100 | 1.8 | 35%, $60 no deposit for real account | https://www.forexexplore.com/forex-brokers/trade360-review | Trade360 | yes | no | credit cards, skrill, neteller, wire transfer | 1:1,000 | no | no | CySEC | no | no | no | yes | yes | 1 | 0 | 0 | 0 | 0 | 1 | ||||||
| Tradersway | 1 | https://forexexplore.com/forex-brokers/traders-way-reviews/ | 0 | 1 | https://forexexplore.com/forex-brokers/traders-way-reviews/ | Metatrader 4, ctrader | yes | yes | Skrill, Neteller, Perfect Money, Webmoney, QIWI, MonetaRu, EasyPay, Boletto, CashU | 1:1,000 | no | no | no | yes | yes | no | 0 | 1 | 0 | 0 | 0 | 1 | |||||||||
| Trading212 | 1 | https://forexexplore.com/forex-brokers/trading212-review/ | 100 | 2.5 | https://forexexplore.com/forex-brokers/trading212-review/ | Trading212 | yes | no | wire transfers, credit and debit cards, PayPal, Dotpay, Giropay, SafetyPay, Carte Bleue, Mister Cash, Direct eBanking, CashU and UnionPay | 1:200 | no | no | FCA UK | no | yes | no | yes | 1 | 0 | 0 | 0 | 0 | 0 | ||||||||
| Turnkey | 1 | https://forexexplore.com/forex-brokers/turnkey-forex-reviews/ | 5 | 2 | 100% deposit bonus; 30 days of commission-free trading; 30% rescue bonus | https://forexexplore.com/forex-brokers/turnkey-forex-reviews/ | MetaTrader 4, Trade Station | yes | yes | credit cards, wire transfer, neteller | 1:200 | yes | yes | no | yes | yes | yes | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||
| Whaleclub | 1 | https://forexexplore.com/forex-brokers/whaleclub-reviews/ | 1 | 1 | https://forexexplore.com/forex-brokers/whaleclub-reviews/ | in-house whaleclub web platform | yes | no | bitcoin | 1:100 | no | no | no | no | no | no | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||
| Z.com Trade | 3 | https://forexexplore.com/forex-brokers/z-com-trade-reviews/ | 1 | 1.4 | https://forexexplore.com/forex-brokers/z-com-trade-reviews/ | Z.com trader web, Z.com trader pro (demo account only) | yes | yes | credit cards, wire transfer, china unionpay, skrill | 1:200 | no | no | FCA UK | yes | yes | no | 1 | 0 | 0 | 0 | 0 | 0 | |||||||||
| Freshforex | 3 | https://forexexplore.com/forex-brokers/freshforex-review/ | 1 | 3 | +5% to each cryptocurrency deposit; get 300% for each deposit | https://forexexplore.com/forex-brokers/freshforex-review/ | Metatrader 4 | yes | yes | WebMoney, ePayService, Skrill , FasaPay, ADVCash, Perfect Money, Neteller, OnlineNaira NGN/USD, E-wallets for the Philippines, Visa/Mastercard/Maestro USD/EUR, Local Depositors, Bitcoin, Internet Banking | 1:1000 | no | yes | KROUFR | yes | yes | yes | yes | yes | yes | yes | yes | yes | 1 | 1 | 0 | 0 | 1 | 1 | ||
| ForexMart | 0 | https://forexexplore.com/forex-brokers/forexmart-review/ | 1 | 0.0 | $150 no deposit needed | https://forexexplore.com/forex-brokers/forexmart-review/ | Metatrader 4 | yes | yes | credit cards, Neteller, Skrill, Paypal, Paxum? Bitcoin | 1:1,000 | no | no | CySEC | no | yes | yes | yes | yes | yes | yes | yes | 1 | 0 | 0 | 0 | 0 | 1 | |||
| Pepperstone | 3 | https://forexexplore.com/forex-brokers/pepperstone-review/ | 200 | 1.2 | 100% Match Bonus | https://forexexplore.com/forex-brokers/pepperstone-review/ | Metatrader 4, Metatrader 5, cTrader, cAlgo, cMirror | yes | yes | bPay, credit cards, Paypal | 1:500 | English | yes | yes | ASIC, FCA UK | yes | yes | yes | yes | yes | yes | yes | yes | 1 | 1 | 1 | 0 | 0 | 1 | ||
| Forexee | 0 | https://forexexplore.com/forex-brokers/forexee-review/ | 50 | 0.5 plus commissions | Special trading commission $1, Welcome Bonus $15 for STP, 0% commission for deposits | https://forexexplore.com/forex-brokers/forexee-review/ | MetaTrader 4 | no | yes | Credit Cards, Webmoney, Wire Transfer, Skrill, Neteller, Bitcoin, Bitcoin Cash, litecoin, Fasapay, etherium, Payza, Perfect Money | 1:500 | English | no | no | no | yes | yes | no | yes | 0 | 1 | 0 | 0 | 0 | 1 | ||||||
| AETOS | 0 | https://forexexplore.com/forex-brokers/aetos-review/ | 250 | 2 | https://forexexplore.com/forex-brokers/aetos-review/ | MetaTrader 4 | yes | yes | Bank wire transfer, Credit cards, Debit cards, Skrill, ZOTAPAY | 1:200 | no | no | FCA UK | no | no | no | yes | yes | 1 | 0 | 0 | 0 | 0 | 0 | |||||||
| TradeFW | 3 | https://forexexplore.com/forex-brokers/tradefw-review/ | 0 | 250 | https://forexexplore.com/forex-brokers/tradefw-review/ | yes | yes | Bank wire, Credit/Debit Card. | 1:30 | no | no | Cysec | yes | yes | no | yes | 1 | 1 | 0 | 0 | 0 | 0 | |||||||||
| 1Market | 0 | https://forexexplore.com/forex-brokers/1market-review/ | 250 | 3 | https://forexexplore.com/forex-brokers/1market-review/ | Webtrader, Metatrader 5 | yes | yes | credit cards, bank wire transfers, Neteller, Skrill, Sofort, Rapid, PaySafe Card and Volt | 1:400 | no | no | Cysec | no | no | no | no | yes | 1 | 0 | 0 | 0 | 0 | 1 | |||||||
| Trade Nation | 4 | https://forexexplore.com/forex-brokers/tradenation-review/ | 1 | 0.6 | https://forexexplore.com/forex-brokers/tradenation-review/ | in-house web-based platform, Metatrader 4 MT4 | yes | yes | Credit Card, Srill | 1:30; 1:200 | English | yes | yes | FCA in the UK, the ASIC in Australia, the FSCA in South Africa and the SCB in the Bahamas | yes | 1 | 1 | 0 | 0 | 0 | 0 | ||||||||||
| PlusMarkets | 0 | https://forexexplore.com/forex-brokers/plusmarkets-review/ | 0 | 0.1 | https://forexexplore.com/forex-brokers/plusmarkets-review/ | Metatrader 4, PlusMarkets Trader | yes | yes | cards, wire transfers, and some alternative payment methods, which aren’t specified | 1:30 | no | no | CySec | no | yes | no | 1 | 0 | 0 | 0 | 0 | 0 | |||||||||
| HonorFX | 0 | https://forexexplore.com/forex-brokers/honorfx-review/ | 100 | 0.2 | https://forexexplore.com/forex-brokers/honorfx-review/ | Metatrader 5 | no | yes | Credit Cards, Neteller, Skrill, Paypal, Bitpay, Fasapay, Perfect Money | 1:500 | FSA | yes | 1 | 0 | 1 | 0 | 0 | 1 | |||||||||||||
| Tiger Brokers | 0 | https://forexexplore.com/forex-brokers/tiger-brokers-review/ | 0 | https://forexexplore.com/forex-brokers/tiger-brokers-review/ | Tiger Trade | no | yes | Bank Wire Transfer, FAST, DDA, PayNow | Up to 4x (day trade), Up to 2x (next day) | yes | US Securities and Exchange Commission, Australian Securities & Investments Commission (ASIC) | yes | 1 | 0 | 0 | 0 | 0 | 0 | |||||||||||||
| MarketBull | 0 | https://forexexplore.com/forex-brokers/marketbull-review/ | 1000 | 1.8 | 100% match the deposit | https://forexexplore.com/forex-brokers/marketbull-review/ | Metatrader 4 | yes | yes | Credit Cards, Neteller, Skrill, Bank Wire Transfer | 1:1000 | jurisdiction of the UK | yes | yes | yes | yes | yes | 1 | 1 | 0 | 0 | 0 | 1 | ||||||||
| CedarFX | 0 | https://forexexplore.com/forex-brokers/cedarfx-review/ | 50 | 3 | https://forexexplore.com/forex-brokers/cedarfx-review/ | MetaTrader 4 | yes | Credit Card, Bank Wire, Bitcoin | 1:500 | yes | 1 | 0 | 0 | 0 | 0 | 1 | |||||||||||||||
| GCI Trading | 0 | https://forexexplore.com/forex-brokers/gci-trading-review/ | 500 | 1 | 50% on deposit | https://forexexplore.com/forex-brokers/gci-trading-review/ | MetaTrader 4, ActTrader | yes | yes | Bank Wire Transfer, Credit Card, Neteller, Skrill | 1:400 | IFSC | yes | yes | 1 | 1 | 0 | 0 | 0 | 1 | |||||||||||
| Axi | 0 | https://forexexplore.com/forex-brokers/axitrader-review/ | 200 | 1.2 | https://forexexplore.com/forex-brokers/axitrader-review | Metatrader 4 | yes | yes | Debit and Credit Cards (Visa, Master, Maestro, JCB) Neteller Skrill/Moneybookers Global Collect (only for Australian clients) BPAY (only for Australian Clients) China Union Pay (only for Chinese residents) Bank Transfer Broker to Broker Transfer | 1:400 | no | no | ASIC, FCA, Financial Services Authority in Saint Vincent and the Grenadines | no | no | yes | 1 | 0 | 0 | 0 | 0 | 1 |
How to Choose a Forex Broker if you trade from Malaysia
Malaysia has legalized Forex trading so this is the right time to jump right into it. There are obviously tones of brokers available online to the local traders and there is no issue in registering and opening account fast. Nevertheless, currency exchange is dangerous for newbies since there are a lot of scammers out there ready to grab your money and disappear.
How to Verify SCM Authorisation
To identify if a forex broker is regulated by SCM, the first step is to identify the register number from the disclosure text at the bottom of the broker’s Malaysia homepage.
Next, look up the firm on the SCM website to validate the current regulatory status of the broker in Malaysia. Here is the official page with the public register of license holders on SCM.
It’s also worth noting that Bank Negara Malaysia, which is the Central Bank of Malaysia that regulates money service businesses and forex dealers, issued guidelines for digital currencies (cryptocurrency) requiring companies to comply when dealing with crypto assets.
When you look for a broker regulated in Malaysia, you are searching for a firm that is regulated by Malaysian National Bank Negara. Aside from the regulation, you need to try out the trading platform, check out all the extra fees and commissions, compare spreads on major currency pairs, research the differences between account types, consider different deposit methods, be comfortable with minimum deposit requirements and payment methods, try out customer support… In short, you have to find a broker with good online reputation and this is not an easy task.
Trading Platforms
Choosing a trading platform is one of the major decisions you have to make. Simple and easy to use platforms are obviously attractive, however it is a known fact that the best trading platform out there is still MetaTrader 4. It is one of the most wanted when it comes to trading software with lots of charting options, built-in indicators, lots of features including copy trading and backtesting strategies. Of course, what works for others might not work for you, so try out the demo accounts and get the feel of the platform to find the one that you feel most comfortable with.
Spreads
Nothing comes for free. Noone works for fee. So how do these Brokers make money? They charge commissions on your trading transactions. This commission is called a spread and it is the difference between the buy and sell price (bid and ask). In most cases, you will see that EUR USD currency pair, for example, has 1-3 pips spread. Your agenda when selecting a broker is to find the one that offers the lowest spreads on the currency pair you want to trade.
Pay attention to the fact that spreads can be either fixed or variable. Fixed spreads stay the same and broker charges commissions per lots traded. Spreads that fluctuate are called variable and they can increase dramatically when the market fluctuate. Huge changes in spreads usually come from top financial economic changes, so you have to know your technical analysis really well to play your “cards” right.
Account Types
Some brokers allow you to choose from various account types, where each and every one of them differ in terms and conditions, features, minimum deposits, promotions, demo account, platform, vip treatment and so on. With some brokers you may only see demo and live account, while with others a bunch of different choices such as micro account, mini, standard, platinum, gold, vip, Islamic and others. Speaking of Islamic account, traders in Malaysia may look for swap-free accounts where you will not be charged and will not make interest on your overnight positions to comply with their Muslim faith.
Customer Service
You definitely want your customer support to be available for you at all times – whether via email, chat or phone. You might have issues with deposits or withdrawals, there could be questions related to trading platform or spreads, you might want assistance in trading. Both local and international brokers should provide 24 hours a day support, 5 days a week during trading hours. Support needs to be professional, knowledgeable and helpful.
What broker is good to trade in Malaysia?
There are many aspects to look for when choosing a forex broker. Our main ones are as follows:
TRUE ECN
Executions, ECN, which stands for Electronic Communication Network, really is the way of the future for the Foreign Exchange Markets. ECN can best be described as a bridge linking smaller market participants with its liquidity providers through a FOREX ECN Broker.
SPREAD
Choose a broker that has the very best spreads.. A spread is simply defined as the price difference between where a trader may purchase or sell an underlying asset. Traders that are familiar with equities will synonymously call this the Bid: Ask spread. You will have more chance of profiting quicker with better spreads.
Customer Service
Choose a broker that can help you out quickly and efficiently with many options available such as Live Chat, Telephone and email.
Crypto
On the extra side – we also like to trade a wide variety of markets including cryptocurrencies. So BTC trading for us over the weekends is a priority.
Is forex trading legal in Malaysia?
Forex Trading in Malaysia. The short answer to this question is yes, but only with a registered and approved financial institution. The official ruling is that you are only allowed to trade currency legally in Malaysia with licensed institutions, of which there are several.
How to Verify SCM Authorization
To identify if a forex broker is regulated by SCM, the first step is to identify the register number from the disclosure text at the bottom of the broker’s Malaysia homepage.
Next, look up the firm on the SCM website to validate the current regulatory status of the broker in Malaysia. Here is the official page with the public register of license holders on SCM.
It’s also worth noting that Bank Negara Malaysia, which is the Central Bank of Malaysia that regulates money service businesses and forex dealers, issued guidelines for digital currencies (cryptocurrency) requiring companies to comply when dealing with crypto assets.
Conclusion
Trading forex involves risk. You cannot take it out from the equation. But you can certainly minimize and control that risk by choosing a reliable forex broker you can trust and open account with it. We have worked hard to provide you with the comprehensive reviews and rating to help you ease your search. Hope you find our list of best Malay forex brokers above useful. Good luck trading forex!
