Forex Brokers Malaysia

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!

Compare Forex Brokers
BrokerMin DepositPlatformsPaymentsLeverageRegulation
eToro1http://partners.etoro.com/A11108_TClick.aspx2002-https://www.forexexplore.com/forex-brokers/etoro-revieweToro PlatformnoyesCredit Cards, Debit Cards, Paypal, Neteller, Skrill, Webmoney, Wire Transfer1:30; 1:1 for Crypto CurrenciesEnglish, Spanish, Italian, Portuguese, Russian, Chinese, Arabic, GermannoyesCySec, NFAyesyes101000
AGEA0https://www.forexexplore.com/forex-brokers/agea-reviews13$5 no-deposit bonushttps://www.forexexplore.com/forex-brokers/agea-reviewsStreamster, MetaTrader 4yesyesCredit Cards, Wire, Skrill, Webmoney, e-Dinar, Neteller, FasaPay, Perfect Money1:500Englishnoyes101001
AvaTrade7http://www.avatrade.com/?tag=15741001100% yeshttps://www.forexexplore.com/forex-brokers/avatrade-reviewAvaTrader, MetaTrader 4, MetaTrader Floating Spread, Mac Trading, Web Trading, Mobile Trading, Automatic Trading, AvaOptionsyesyesCredit Cards, Debit Cards, Skrill, Wire Transfer, PayPal, Neteller, WebMoney1:400English, Chinese, Arabic, Spanish, French, Italian, Portuguese, German, IndonesiannoyesCentral Bank of Ireland, ASIC, Financial Services Commission of British Virgin Islandnoyesnoyesyesyes101011
CMCMarkets2https://www.forexexplore.com/forex-brokers/cmc-markets-review10.7-https://www.forexexplore.com/forex-brokers/cmc-markets-reviewNext Generation web-basedyesnoCredit cards, Wire Transfer500:1English, Chinese, French, Spanish, GermannonoFCAnonono100001
Tifia1https://tifia.com/102.5https://www.forexexplore.com/forex-brokers/tifia-reviewMetatrader 4, webtraderyesyeswire transfer, credit cards, skrill, neteller, perfect money, fasapay, okpay1:1,000noyesVanuatu Financial Services Commission VFSCyesyesnoyes110001
LiteFinance8https://www.litefinance.com/?uid=90000284110330% + 15%yeshttps://www.forexexplore.com/forex-brokers/liteforex-reviewMetatrader 4, Metatrader 5, WebTerminalyesyes Skrill, Webmoney, Bitcoin, Advcash, Credit Card1:500English, Russian, Chinese, Malaysian, German, Arabic, Partugese, Spanish, French, Hebrew, Japanese, Greek noyesCySEC, Marshal Islands Business Corporation Act.yesnoyesyesyesyesyesyesyes111001
InstaForex7https://www.instaforex.com/?x=JR10.6$100 No Deposit Bonusyeshttps://www.forexexplore.com/forex-brokers/instaforex-reviewMetaTrader 4, Metatrader 5, WebtraderyesyesSome local Bank transfers, PayCo, AstroPay, Cryptocurrency1:1,000English, RussianyesyesRAFMMyesyesyesyes111001
Dukascopy4https://www.forexexplore.com/forex-brokers/dukascopy-reviews2500.5-yeshttps://www.forexexplore.com/forex-brokers/dukascopy-reviewsDukascopyyesyesWire, Bank Guarantee, Standby letter of Credit Segregated Accounts1:500English, French, German, Russian, Spanish, Chinese, Japanese, ArabicKPMG ARIFyes110101
RealTrade1http://realtrader.org/203 30% welcome bonushttps://www.forexexplore.com/forex-brokers/realtrade-reviewsMetaTrader 4noyesCredit Cards, WebMoney, and Wire Transfer1:500English, Russiannononononoyes000001
FxPro5https://www.forexexplore.com/forex-brokers/fxpro-review1000.5up to $1,000yeshttps://www.forexexplore.com/forex-brokers/fxpro-reviewFxPro cTrader, FxPro cTrader Web, MT4 Client Terminal, MT4 MultiTerminal, MT4 WebTrader, MT4 Premium yesyesCredit/Debit Card, Bank Wire, PayPal, Neteller, Skrill 1:500Arabic, Chinese, English, French, German, Greek, Hungarian, Italian, Japanese, Korean, Polish, Portuguese, Russian, Spanish and Vietnamese nonoFCA, CySECyesyesnoyes101011
FXOpen1https://www.fxopen.com/12$100https://www.forexexplore.com/forex-brokers/fxopen-reviewsMetaTrader 4noyesWire, WebMoney, AlertPay, CashU, c-gold, PerfectMoney1:500EnglishnonoASIC, FCA UK, Financial Dispute Resolution Schemeyesyesnoyesyes111001
PrimeXBT4https://go.primexbt.com/click?pid=2298&offer_id=121https://www.forexexplore.com/forex-brokers/primexbt-reviewPrimeXBT, TurboyesnoCredit Cards1:1000yesASICyesyesyesyes000001
ActivTrades2https://www.forexexplore.com/forex-brokers/activtrades-reviews1002https://www.forexexplore.com/forex-brokers/activtrades-reviewsMetatrader 4, ActivtraderyesyesCredit Card, Wire transfer, neteller, skrill, sofort1:400English, German, Spanish, Italian, French, PortuguesenonoFCA100001
House of Borse1https://www.forexexplore.com/forex-brokers/house-of-borse-review500000.8https://www.forexexplore.com/forex-brokers/house-of-borse-reviewMetaTrader 4noyescredit cards, wire transfer1:100nonoFCA UKyesyesyes100000
FXDD3http://www.fxdd.com/1002-https://www.forexexplore.com/forex-brokers/fxdd-reviewsMetaTrader4, FXDD Trader, Power Trader, FXDD Auto, MTXtremenoyesWire, PayPal, Check, BPS 1:200English, Chinese, Japanese, Russian, Spanish, Portuguese, German, French, Turkish, Arabic, VietnameseyesMalta Financial Services Authority (MFSA)yes111000
FXCM5https://www.forexexplore.com/forex-brokers/fxcm-review2502-yeshttps://www.forexexplore.com/forex-brokers/fxcm-reviewTrading Station II, MetaTrader 4, Active Trader, Forex System Selector noyesCredit/Debit card, Online Check, Bank Wire, Paper Check1:200Spanish, French, Chinese, Russian, Portuguese, German, Italian, ArabicyesUK Financial Conduct Authority, AFSL yesyesyesyes101000
Hotforex2https://www.forexexplore.com/forex-brokers/hotforex-review52100% bonushttps://www.forexexplore.com/forex-brokers/hotforex-reviewMetatrader 4, mobile platform, rapid trader fix/apiyesyescredit cards, skrill, Unionpay, neteller, wire transfer, webmoney, fasapay1:1,000nonoyesnoyes001001
Oanda3https://www.forexexplore.com/forex-brokers/oanda-reviews11.4https://www.forexexplore.com/forex-brokers/oanda-reviewsMetatrader 4, FXtradeyesyescheck, Credit cards, PayPal, Wire transfer1:50English, Chinese, German, Spanish, French, Italian, Portuguese and RussianyesnoNFAnononoyesyes100000
Saxo Bank2http://www.saxobank.com50002 n/ahttps://www.forexexplore.com/forex-brokers/saxobank-reviewsSaxoTradernoyesWire1:100English, Belgium, German, French, Spanish, Italian, Arabic, Romanian, Russian, PolishDanish Financial Services Authority and operates in the UAE100000
Forex.com4http://www.forex.com/502-https://www.forexexplore.com/forex-brokers/forex-reviewsForexTrader platform (in-house), MetaTrader 4yesyeswire transfer, Credit/Debit Card, Check1:200English, Russian, Japanese, Arabic, Turkish, German, Chinese, Albanian, Thai, Italian, Hebrew, GreekyesnoCFTC, NFA, FCA (UK), ASIC (Australia), ILLROC (Canada), SFC (Hong Kong), FFAJ (Japan)yesyesnoyes100000
HYCM4https://www.forexexplore.com/forex-brokers/hycm-reviews100225% up to $5,000https://www.forexexplore.com/forex-brokers/hycm-reviewsMetatrader 4nonocredit cards, wire transfer, Skrill, webmoney1:400English, Chinese, ArabicnonoFCA UK, CySEC, SFCnononoyes100011
AdmiralMarkets1https://www.forexexplore.com/forex-brokers/admiralmarkets-reviews103n/ahttps://www.forexexplore.com/forex-brokers/admiralmarkets-reviewsMetaTrader 4noyesWire1:200English, Spanish, Russian, Lithuanian, Romanian, Latvian, Bulgarian, Greek, Croatian, Polish, Hungarian, Czech, Italian, Estonian, German, Finnish, Portuguese001000
Alpari2https://www.forexexplore.com/forex-brokers/alpari-review1250% Welcomehttps://www.forexexplore.com/forex-brokers/alpari-reviewMetaTrader 4noyesDebit or Credit Card, Wire Transfer1:500English, Chinese, German, and Arabicyesyes011001
FinPro Trading2https://www.forexexplore.com/forex-brokers/finpro-trading-review50.07100%https://www.forexexplore.com/forex-brokers/finpro-trading-reviewMetatrader 4, zulutrade, Finopro stationyesyescredit cards, paypal, skrill, wire transfer1:200Englishnoyesnoyesyesyes010000
Fort Financial Services1https://www.fortfs.com53https://www.forexexplore.com/forex-brokers/fort-financial-reviewsMetaTrader 4, CQG, Ninja trader, binary optionsyesyesCredit cards, webmoney, Skrill, Neteller, perfect money, fasapay, wire transfer1:1,000EnglishnonoIFSCyesyesnoyes110001
Blackwell Global2https://www.forexexplore.com/forex-brokers/blackwell-global-review20003-https://www.forexexplore.com/forex-brokers/blackwell-global-reviewMetaTrader 4, Blackwell Pro, Mobileyesyesredit/debit cards, Neteller, Skrill, Wire transfer1:200Arabic, Chinese, English, Greek, Italian, Korean, French, RomanianFinancial Conduct Authority101000
AAAfx2https://www.aaafx.com/3000.2up to 30%https://www.forexexplore.com/forex-brokers/aaafx-reviewsZTP, MetaTrader 4, Binary options webtrader, ZulutradeyesyesWire, Credit Card, Skrill, Neteller, giropay, EPS, directpay24, teleingreso, ideal, qiwi, Bitcoin1:200Arabic, Chinese, English, French, German, Greek, Italian, Japanese, RussiannoyesHCMC (Greece)yes100000
XTB2https://www.xtb.com2502https://www.forexexplore.com/forex-brokers/xtb-reviewsMetatrader 4, xStation, xMobileyesyesCredit cards, Neteller, Paypal, Skrill, Wire transfer1:200nonoCNMV (Spain), FCA (UK), FSA (Poland)yesyesnoyes100000
iFOREX3https://www.forexexplore.com/forex-brokers/iforex-reviews1003-https://www.forexexplore.com/forex-brokers/iforex-reviewsFXnet Traderyesyescredit cards, wire transfer1:400English, Hebrew, Indonesian, German, Spanish, French, Italian, Nederlands, Portuguese, Romanian, Turkish, RUssian, Arabic, Chinese, JapanesenonoHFSA in Hungary, CySECnonono101001
Oinvest0https://kc-welcome.lp-oinvest.co.za/r?hash=_WkFLpV2000.7Samsung Galaxy, iPhonenohttps://www.forexexplore.com/forex-brokers/oinvest-reviewMetatrader 4yesyesSkrill, Neteller, Credit Cards 1:200noyesyesyesyesyesyesyesyesyesyesyes111000
Plus5005https://www.forexexplore.com/forex-brokers/plus500-reviews500230%yeshttps://www.forexexplore.com/forex-brokers/plus500-reviewsPlus500yesnoSkrill, Credit Cards, Wire Transfer1:200English, Hebrew, ArabicIsrael Securities Authority100010
TraderTrust1http://traders-trust.com/100as low as 2100% upto $5,000https://www.forexexplore.com/forex-brokers/tradertrust-reviewsSmartForexnoyesSkrill, Credit Cards1:200English, Russian, Italian, and ArabicCySec, VFCSyes100000
AdvancedMarkets3https://www.forexexplore.com/forex-brokers/advancedmarkets-reviews5000-2.5-https://www.forexexplore.com/forex-brokers/advancedmarkets-reviewsAdvanced Trader/Pro/Prime, Fortex FX noyesWire, Check1:50English, Spanish, KoreanAustralian AFSL, ASICyes100000
XM8http://clicks.pipaffiliates.com/afs/come.php?id=27&cid=3689&ctgid=16&atype=151$30 no deposityeshttps://www.forexexplore.com/forex-brokers/xm-reviewMetaTrader 4, Metatrader 5, XM WebtraderyesyesCredit/Debit Card, Neteller, Skrill, WebMoney, Bank Wire Transfer1:888Arabic, Chinese, English, French, German, Greek, Hungarian, Indonesian, Italian, Japanese, Malay, Korean, Polish, Portuguese, Russian, Spanish, Swedish, Turkish, Thai, VientamesenoCySEC, ASIC Australia, IFSC Belizenoyesyesnoyesno101011
Anzo Capital2https://anzocapital.com/1002https://www.forexexplore.com/forex-brokers/anzo-capital-reviewMetaTrader 4yesyesWebmoney, Skrill, Neteller, Credit Cards1:1000English, Chinesenonoyesyesyesyesyesnonoyesnono110001
MEX Exchange1https://www.mexexchange.com/250.2https://www.forexexplore.com/forex-brokers/mex-exchange-reviewMetatrader 4noyesNeteller, Skrill, Fasapay, UnionPay, Credit Cards, Wire Transfer1:500nonoASICyesyesyesyes110001
FBS1https://www.forexexplore.com/forex-brokers/fbs-review1from 0,2 pips fixed/floating$123 Welcome Bonushttps://www.forexexplore.com/forex-brokers/fbs-reviewMetaTrader 4, Metatrader 5, Webtradingyesyescredit cards, fasapay, Indonesia local banks, Neteller, okpay, perfectmoney, Skrill, Webmoney, wire transfer, Thai local banks, Exchangers, Malaysian banks and Bitcoin by Skrillup to 1:3,000English, Bahasa Indonesia, Bahasa Malyasian, Russian, Spanish, Portuguese, Arabic, Vietnamese, Bengali, Lithuanian, Korean, Chinese, Thai, TamilIFSC; Cysecyesyesyesyes101001
FP Markets3http://go.fpmarkets.com/visit/?bta=35186&nci=5369200starting from 010% credit bonushttps://www.forexexplore.com/forex-brokers/fpmarkets-reviewMetaTrader 4 (MT4), IRESS, Mobile tradingyesyescredit cards, UnionPay, Neteller, Skrill (3% fee), Wire transfer, BPay and broker-to-broker transfer1:500English, Bahasa Melayu, French, Finish, Chinese, Norwegian, Russian, Thai, Italian, German, Portuguese, Spanish and SwedishnoyesASICyesyesyesyesyes110011
DFMarkets3http://www.dfmarkets.co.uk100from 0.1 pips10% Trading Credit Promotion up to $1,000https://www.forexexplore.com/forex-brokers/dfmarkets-reviewsDFTrader, DF WebTrader, DF MobileyesyesBank wire, Credit/Debit cards1:200EnglishnonoFCAnononoyesyes100000
EasyMarkets2http://www.easymarkets.com1002.5https://www.forexexplore.com/forex-brokers/easymarkets-reviewMetatrader 4, EasyMarkets web-based platformyesyescredit cards, neteller, Skrill, Webmney, wire transfer1:100nonoASIC (Australia), CySEC (Cyprus)nononoyes101000
OctaFX9http://octaengine.com/c/?p=566&bt=gif&b=236850from 0.2up to 50%yeshttps://www.forexexplore.com/forex-brokers/octafx-reviewsMetaTrader 4, Metatrader 5, cTraderyesyesNeteller, Skrill, Fasapay, Visa, Mastercard, Malaysian, Vietnamese, Indian, Indonesian, Bangladeshi local banks, Bitcoin, Unionpay1:500EnglishyesFCA UKyesyesyesyesyes110011
IronFX4https://www.forexexplore.com/forex-brokers/ironfx-reviews100040%yeshttps://www.forexexplore.com/forex-brokers/ironfx-reviewsMetatrader 4yesyescredit cards, Fasapay, neteller, qiwi, skrill, webmoney, wire transfer1:500EnglishnoyesASIC, CySEC, DFSA, FCA UK, FSB, UCRFIN, CRFIN, Member of Eurex Exchange, Consob, BaFINyesyesyes110001
FxGlory0https://www.forexexplore.com/forex-brokers/fxglory-review10.550% up to $1,000https://www.forexexplore.com/forex-brokers/fxglory-reviewMetaTrader4, MobilenoyesCredit/debit cards, Paypal, Bitcoin1:3,000Englishyes000001
TrioMarkets0https://www.forexexplore.com/forex-brokers/triomarkets-review1003-https://www.forexexplore.com/forex-brokers/triomarkets-reviewMetaTrader 4, Sirix WebtraderyesyesCredit Card, Wire, Skrill, Neteller, Paypal and CashU1:300English, Arabic, French, Italian, GermannoyesCySECnoyesno101000
CityIndex2http://www.cityindex.co.uk1002-https://www.forexexplore.com/forex-brokers/cityindex-reviewMT4 (MetaTrader 4), Advantage Web, Advantage Trader, iPhone, Android, Windows Phone App, iPad and Tablet AppyesyesCredit/Debit Cards1:400EnglishTrademark of GAIN Capital UK Ltd - Regulated by FCAyesyes100001
Markets.com2https://www.forexexplore.com/forex-brokers/markets-com-review1002up to $2,000https://www.forexexplore.com/forex-brokers/markets-com-reviewMeta Trader 4,MarketTrader, Market WebTrader, Market Java Trader, Market Mobile Trader, Market WAP Trader, Market iTrader, Market AutoTraderyesyesCredit/Debit Cards, Wire Transfer, Webmoney, Local Payments1:200English, French, Spanish, German, Russian, Italian, Chinese, Arabic, Turkish, Portuguese, Japanese, Polish, Greek, Dutch, SwedishCySEC, FSCA South Africa yesyes111000
Orbex0https://www.forexexplore.com/forex-brokers/orbex-review5001.6https://www.forexexplore.com/forex-brokers/orbex-reviewMetaTrader 4noyesSkrill, Neteller, Wire Transfer, Credit Cards, CashU, Webmoney1:500English, Arabic, Bengali, Spanish, German, Russian, Chinese, Bulgarian, Urdu, GreeknonoCySECyesyesno110001
CMTrading4http://go.cmtaffiliates.com/visit/?bta=36085&brand=cmtrading200215% matchhttps://www.forexexplore.com/forex-brokers/cmtrading-reviewMetaTrader 4, Sirixyesyescredit/debit cards, Wire transfer, CashU ,Skrill1:400Financial Services Board (FSB) South Africa100001
AccentForex0https://www.forexexplore.com/forex-brokers/accentforex-review10350%nohttps://www.forexexplore.com/forex-brokers/accentforex-reviewMetaTrader 4noyesWebMoney, OkPay, Skrill, Wire Transfer, Credit Cards1:500English000001
GrandCapital0https://www.forexexplore.com/forex-brokers/grandcapital-review102$500 no deposithttps://www.forexexplore.com/forex-brokers/grandcapital-reviewMetaTrader 4, WebTraderyesyesCredit card, Neteller, Webmoney, CashU, Fasapay, Scrill, Webmoney500:1English, Russian, Chinese, IndonesianyesnoFinancial Commission FinaCom, EDR Hong Kong external dispute resolution organizationyesnono101001
Simplefx1https://simplefx.com11https://www.forexexplore.com/forex-brokers/simplefx-reviewsMetaTrader 4 and in-house web-based platformyesyesWire transfer, Credit/debit cards, Skrill, Neteller, Astropay, Webmoney, FasaPay, Qiwi, Moneta, ru, Yandex, China UnionPay, Bitcoin and litecoin1:100nonononononoyes000000
Alvexo0https://www.forexexplore.com/forex-brokers/alvexo-review50003.3-https://www.forexexplore.com/forex-brokers/alvexo-reviewMetaTrader 4, WebTrader, MobileyesyesCash-U, Credit Card, Webmoney, Wire Transfer400:1English, FrenchnonoCySECyesyes100001
RubixFX0https://www.forexexplore.com/forex-brokers/rubixfx-review5000.2-https://www.forexexplore.com/forex-brokers/rubixfx-reviewMetaTrader 4noyesWire Transfer, Credit Cards400:1English, French000001
NSFX0https://www.forexexplore.com/forex-brokers/nsfx-review3003https://www.forexexplore.com/forex-brokers/nsfx-reviewMetatrader 4, Webtrader, NSFX Jforex platformyesyescredit cards, Skrill, CashU and wire transfer200:1English, Arabic, German, Turkish and ItaliannonoMFSAyesyesno100000
Synergy FX1https://synergyfx.com/5002https://www.forexexplore.com/forex-brokers/synergyfx-reviewsMetaTrader 4noyescredit cards, skrill, wire transfer1:500noyesASIC, AFSLyesyesyesyes100001
FXGrow0https://www.forexexplore.com/forex-brokers/fxgrow-review1000.8-https://www.forexexplore.com/forex-brokers/fxgrow-reviewMetaTrader 4, NetStationyesyesCredit/Debit cards, Skrill, Neteller, OkPay, CashU, WireTransfer200:1English001000
Juno Markets0https://www.forexexplore.com/forex-brokers/juno-markets-review5003-https://www.forexexplore.com/forex-brokers/juno-markets-reviewMetaTrader 4noyesneteller, skrill, credit cards, wire transfer1:400EnglishnonoFinaComnoyesno100001
Tickmill3http://www.tickmill.com/1001.2-https://www.forexexplore.com/forex-brokers/tickmill-reviewMetaTrader 4, Webtraderyesyeswire transfer (commission are charged), credit/debit cards, Skrill, Neteller, FasaPay, UnionPay and WebMoney1:500noyesFCA UK, FSA Seychellesyesyesnoyes111011
TeleTrade0https://www.forexexplore.com/forex-brokers/teletrade-review2000524%https://www.forexexplore.com/forex-brokers/teletrade-reviewMetaTrader 4, Mobilenoyescredit cards, Wire transfer, Neteller, Skrill1:200English, Russian000000
Financika1https://www.financikatrade.com/2502https://www.forexexplore.com/forex-brokers/financika-reviewsProfit, WebProfit, MetaTrader 4yesyes credit cards, wire transfer200:1nononononono000000
TenkoFX3http://www.tenkofx.com103https://www.forexexplore.com/forex-brokers/tenkofx-reviewMetaTrader 4, WebtraderyesyesSkrill, Neteller, FasaPay, Webmoney, Yandex Money, Qiwi1:500EnglishnonoInternational Financial Services Commission of Belizeyesyesno100001
KGIeworld0https://www.forexexplore.com/forex-brokers/kgieworld-review10003-https://www.forexexplore.com/forex-brokers/kgieworld-reviewMetaTrader 4noyesWire Transfer, Check1:50EnglishnonoMASnoyesno100000
Abshire-Smith0http://www.abshire-smith.com/5001.8https://www.forexexplore.com/forex-brokers/abshire-smith-reviewsVertex fx, Metatrader 4, straticatornoyesCashU, Neteller, Skrill, Wire Transfer1:200nonoFCAyes101000
Alfa Financial0http://www.alfafinancials.com10000$1 plus $15 commissionshttps://www.forexexplore.com/forex-brokers/alfa-financial-reviewMetaTrader 4, AX1Traderyesyes1:100EnglishnonoCentral Bank UAEyes100000
Blueberry Markets4https://www.blueberrymarkets.com1001.5https://www.forexexplore.com/forex-brokers/blueberry-markets-reviewsMetaTrader 4noyescredit cards, wire transfer, POLi, Skrill1:500nonoASICyesyesyesyes110001
CIBfx0http://www.cibfx.com1001https://www.forexexplore.com/forex-brokers/cibfx-reviewMetaTrader 4 yesyesPaypal, Skill, Credit Cards, Neteller1:200nonoVSFCnoyesno000000
BlackBull Markets9https://go.blackbullmarkets.com/visit/?bta=39396&brand=blackbull2000.8yeshttps://www.forexexplore.com/forex-brokers/blackbull-markets-reviewMetatrader 4, Metatrader 5yesyesBank Transfer, Credit Card Payments (Visa, MasterCard), Skrill, Neteller, China Union Pay, FasaPay1:500yesnoFinancial Services Provideryesyesyesnoyesyesyes100000
Darwinex0https://www.darwinex.com/5001https://www.forexexplore.com/forex-brokers/darwinex-reviewMetaTrader 4, cTraderyesyesBank Wire, Credit Cards, UnionPay1:200noyesFCAyes100000
Eightcup0https://www.eightcap.com/1001https://www.forexexplore.com/forex-brokers/eightcap-reviewMetatrader 4noyes1:500nonoASICyesyesnoyes110011
ETX Capital0https://www.etxcapital.com/1001https://www.forexexplore.com/forex-brokers/etxcapital-review ETX Trader Pro, Metatrader 4, ETX binaryyesyescredit cards, wire transfer, firopay, neteller, skrill, sofort, china unionpay1:200nonoFCAnonono100000
FCI Markets1http://www.fci-markets.co.uk/2500.2https://www.forexexplore.com/forex-brokers/fci-markets-reviewsCurrenex, FCI NetStation, MetaTrader 4yesyescredit cards, neteller, skrill, wire transfer1:100noyesFCAyesyesno110000
Fortrade1https://www.fortrade.com/5003https://www.forexexplore.com/forex-brokers/fortrade-reviewsFortraderyesyeswire transfer, credit cards, skrill, neteller1:200nonoFCAnononoyes100000
FXGiants1http://www.fxgiants.co.uk5002.2https://www.forexexplore.com/forex-brokers/fxgiants-reviewsMetaTrader 4noyescredit cards, neteller, paypal, skrill, unionpay, Webmoney, Wire Transfer1:500nonoFCAnonoyes100001
FXGlobe1https://www.fxglobe.com/2500.7https://www.forexexplore.com/forex-brokers/fxglobe-reviewsMetaTrader 4noyesCredit cards, Neteller, Skrill, Wire transfer1:500nonoCySECyesnoyes110001
FXonus1https://fxonus.com/5003https://www.forexexplore.com/forex-brokers/fxonus-reviewMetaTrader 4yesyesCredit Cards, Skrill, Neteller, Wire Transfer, China Union Pay1:500nononoyesnono010001
FXoro1https://www.fxoro.com/2003https://www.forexexplore.com/forex-brokers/fxoro-reviewsMetatrader 4noyescredit cards, wire transfer, skrill, neteller, ecoPayz, CashU1:400nonoCySECyesnono100001
FXprimus1http://www.fxprimus.com/1000.3https://www.forexexplore.com/forex-brokers/fxprimus-reviewsMetatrader 4noyesBitcoin, China UnionPay, FasaPay, Neteller, Skrill, Wire Transfer1:500nonoCysecyesyesyes110001
Infinox1https://www.forexexplore.com/forex-brokers/infinox-reviews1001.5https://www.forexexplore.com/forex-brokers/infinox-reviewsMetatrader 4noyescredit cards, wire transfer, skrill, neteller, china unionpay1:300noboFCA UKyesyesnoyes100000
JCMFX1http://jcmfx.com/101.8https://www.forexexplore.com/forex-brokers/jcmfx-reviewMetaTrader 4noyescredit cards, FasaPay, Wire Transfer, Neteller, Skrill1:1,000nonoFSAnonono100001
Larson&Holz1https://www.lh-broker.com/1000https://www.forexexplore.com/forex-brokers/larson-holz-reviewMetatrader 4, Web Traderyesyescredit cards, wire transfer, neteller, paypal, Yandex, liqpay, alfa click, beeline, mtc, perfect money1:500nonoFMRRC, NAFDyesyesno100001
LCG1https://www.lcg.com/11.6https://www.forexexplore.com/forex-brokers/lcg-reviewsMetaTrader 4, LCG Trader (web-based, ECN accounts only)yesyeswire transfer, debit/credit cards, Skrill1:500nonoFCA UKyesyesnoyes100001
LMFX1https://www.lmfx.com/501.8100% match bonus, 15% recoveryhttps://www.forexexplore.com/forex-brokers/lmfx-reviewMetatrader 4, Webtraderyesyescredit cards, Fasapay, neteller, okpay, skrill, wire transfer1:1,000yesnonoyesnoyesyes000001
LQDFX1https://www.lqdfx.com/201https://www.forexexplore.com/forex-brokers/lqdfx-reviewMetaTrader 4, xStationyesyesWire transfer, Credit cards, Skrill, Neteller, Unipay, FasaPay, SoFort, iDeal1:500nononoyesyesno000001
Mahi FX1https://mahifx.com/11https://www.forexexplore.com/forex-brokers/mahifx-reviewsMetatrader 4, MahiFXyesyeswire transfer, credit cards1:100nonoFCA UK, ASIC, FMAnononoyesyes100000
Paxforex1https://paxforex.com/10No deposit $7 bonus – cannot withdrawhttps://www.forexexplore.com/forex-brokers/paxforex-reviewsMetaTrader 4noyesCredit cards, FasaPay, Neteller, OKPAY, Perfect Money, QIWI, Skrill, UnionPay, WebMoney, Wire Transfer1:500nononononoyes000001
Pricemarkets1https://pricemarkets.com5002.5https://www.forexexplore.com/forex-brokers/pricemarkets-reviewMetaTrader 4 ECN, Currenex ECN, Integral FX, Liquid-x, Hotspot FXyesyeswire transfer, credit cards1:400yesnoFCA UKyesyesyes100001
Rallytade1https://www.forexexplore.com/forex-brokers/rallytrade-review1001.6https://www.forexexplore.com/forex-brokers/rallytrade-reviewMetatrader 4, xStation (web-based), xSocial, xOptionsyesyescredit cards, neteller, skrill, Interswitch, Pocketmoni, etraszact, perfectMoney, WebMoney, VoguePay1;1,000yesyesFinaCOMnonono100001
Range Markets 1https://www.rangeforex.com/1003https://www.forexexplore.com/forex-brokers/range-markets-reviewsMetatrader 4noyesNeteller, Credit Cards, wire transfer1:500nonoFSA of St. Vincent and the Grenadinesnonono100001
Rekuten Securities1https://www.forexexplore.com/forex-brokers/rakuten-reviews10.7https://www.forexexplore.com/forex-brokers/rakuten-reviewsMarketSpeed FX, Trading Station (inherited from FXCM)yesyeswire transfer, checks, ATM (only for local residents)1:50nonoSFCnoyesnoyes100000
Roboforex1http://www.roboforex.com/12https://www.forexexplore.com/forex-brokers/roboforex-reviewMetaTrader 4, cTraderyesyescredit cards, QIWI wallet, webmoney, Yandex.money, RBK money, Skrill, FasaPay, CashU, Payoneer, China UnionPay, Neteller, Perfect Money1:500nonoCysec, IFSC, FSP, FSCLyesyesno100001
Swissmarkets0https://www.swissmarkets.com/?campaign=1341&p1=&p2=334&p3=6m8j8j7w#signup2001.2https://www.forexexplore.com/forex-brokers/swissmarkets-reviewMetatrader 4, Webtraderyesyescredit cards, wire transfer, neteller, skrill, iDEAL, giropay1:500nonoCySEC, MiFIDnoyesno100101
Trade3600https://www.trade360.com/1001.835%, $60 no deposit for real accounthttps://www.forexexplore.com/forex-brokers/trade360-reviewTrade360yesnocredit cards, skrill, neteller, wire transfer1:1,000nonoCySECnononoyesyes100001
Tradersway1https://www.tradersway.com/01https://www.forexexplore.com/forex-brokers/traders-way-reviewsMetatrader 4, ctraderyesyesSkrill, Neteller, Perfect Money, Webmoney, QIWI, MonetaRu, EasyPay, Boletto, CashU1:1,000nononoyesyesno010001
Trading2121http://www.trading212.com/1002.5https://www.forexexplore.com/forex-brokers/trading212-reviewTrading212yesnowire transfers, credit and debit cards, PayPal, Dotpay, Giropay, SafetyPay, Carte Bleue, Mister Cash, Direct eBanking, CashU and UnionPay1:200nonoFCA UKnoyesnoyes100000
TurnkeyForex1http://turnkeyforex.com/5200% deposit bonus; 30 days of commission-free trading; 30% rescue bonushttps://www.forexexplore.com/forex-brokers/turnkey-forex-reviews MetaTrader 4, Trade Stationyesyescredit cards, wire transfer, neteller1:200yesyesnoyesyesyes000000
Whaleclub1https://whaleclub.co/11https://www.forexexplore.com/forex-brokers/whaleclub-reviewsin-house whaleclub web platformyesnobitcoin1:100nononononono000000
Z.com Trade3https://trade.z.com/11.4https://www.forexexplore.com/forex-brokers/z-com-trade-reviews Z.com trader web, Z.com trader pro (demo account only)yesyescredit cards, wire transfer, china unionpay, skrill1:200nonoFCA UKyesyesno100000
Freshforex3https://www.forexexplore.com/forex-brokers/freshforex-review13+5% to each cryptocurrency deposit; get 300% for each deposithttps://www.forexexplore.com/forex-brokers/freshforex-reviewMetatrader 4yesyesWebMoney, ePayService, Skrill , FasaPay, ADVCash, Perfect Money, Neteller, OnlineNaira NGN/USD, E-wallets for the Philippines, Visa/Mastercard/Maestro USD/EUR, Local Depositors, Bitcoin, Internet Banking1:1000noyesKROUFRyesyesyesyesyesyesyesyesyes110011
ForexMart0https://www.forexexplore.com/forex-brokers/forexmart-review10.0$150 no deposit neededhttps://www.forexexplore.com/forex-brokers/forexmart-reviewMetatrader 4yesyescredit cards, Neteller, Skrill, Paypal, Paxum? Bitcoin1:1,000nonoCySECnoyesyesyesyesyesyesyes100001
Pepperstone3https://trk.pepperstonepartners.com/aff_c?offer_id=329&aff_id=40262001.2100% Match Bonushttps://www.forexexplore.com/forex-brokers/pepperstone-reviewMetatrader 4, Metatrader 5, cTrader, cAlgo, cMirroryesyesbPay, credit cards, Paypal1:500EnglishyesyesASIC, FCA UKyesyesyesyesyesyesyesyes111001
Forexee0https://www.forexee.com500.5 plus commissionsSpecial trading commission $1, Welcome Bonus $15 for STP, 0% commission for depositshttps://www.forexexplore.com/forex-brokers/3768-forexee-reviewMetaTrader 4noyesCredit Cards, Webmoney, Wire Transfer, Skrill, Neteller, Bitcoin, Bitcoin Cash, litecoin, Fasapay, etherium, Payza, Perfect Money1:500Englishnononoyesyesnoyes010001
AETOS0https://www.forexexplore.com/forex-brokers/aetos-review2502https://www.forexexplore.com/forex-brokers/aetos-reviewMetaTrader 4yesyesBank wire transfer, Credit cards, Debit cards, Skrill, ZOTAPAY1:200nonoFCA UKnononoyesyes100000
AETOS0https://www.forexexplore.com/forex-brokers/aetos-review2502https://www.forexexplore.com/forex-brokers/aetos-reviewMetaTrader 4yesyesBank wire transfer, Credit cards, Debit cards, Skrill, ZOTAPAY1:200nonoFCA UKnononoyesyes100000
LH-Crypto0https://www.lh-crypto.com/101https://www.forexexplore.com/forex-brokers/lh-crypto-reviewMetatrader 4, Metatrader 5yesyesBitcoin, Bitcoin Cash, Ethereum, Litecoin, Monero, DASH, Ripple, NEO, Visa, MasterCard, Web Money, QIWI, wire transfer1:5002018noyesyesyesyesnoyes111001
TradeFW3https://www.tradefw.com/0250https://www.forexexplore.com/forex-brokers/tradefw-reviewyesyesBank wire, Credit/Debit Card.1:30nonoCysecyesyesnoyes110000
1Market0https://www.forexexplore.com/forex-brokers/1market-review2503https://www.forexexplore.com/forex-brokers/1market-reviewWebtrader, Metatrader 5yesyescredit cards, bank wire transfers, Neteller, Skrill, Sofort, Rapid, PaySafe Card and Volt1:400nonoCysecnonononoyes100001
Trade Nation4https://www.forexexplore.com/forex-brokers/tradenation-review10.6https://www.forexexplore.com/forex-brokers/tradenation-reviewin-house web-based platform, Metatrader 4 MT4yesyesCredit Card, Srill 1:30; 1:200EnglishyesyesFCA in the UK, the ASIC in Australia, the FSCA in South Africa and the SCB in the Bahamasyes110000
PlusMarkets0https://www.forexexplore.com/forex-brokers/plusmarkets-review00.1https://www.forexexplore.com/forex-brokers/plusmarkets-reviewMetatrader 4, PlusMarkets Traderyesyescards, wire transfers, and some alternative payment methods, which aren’t specified1:30nonoCySecnoyesno100000
HonorFX0https://www.forexexplore.com/forex-brokers/honorfx-review1000.2https://www.forexexplore.com/forex-brokers/honorfx-reviewMetatrader 5noyesCredit Cards, Neteller, Skrill, Paypal, Bitpay, Fasapay, Perfect Money1:500FSAyes101001
Tiger Brokers0https://www.forexexplore.com/forex-brokers/tiger-brokers-review0https://www.forexexplore.com/forex-brokers/tiger-brokers-reviewTiger TradenoyesBank Wire Transfer, FAST, DDA, PayNowUp to 4x (day trade), Up to 2x (next day)yesUS Securities and Exchange Commission, Australian Securities & Investments Commission (ASIC) yes100000
MarketBull0https://www.forexexplore.com/forex-brokers/marketbull-review10001.8100% match the deposithttps://www.forexexplore.com/forex-brokers/marketbull-reviewMetatrader 4yesyesCredit Cards, Neteller, Skrill, Bank Wire Transfer1:1000jurisdiction of the UKyesyesyesyesyes110001
CedarFX0https://www.forexexplore.com/forex-brokers/cedarfx-review503https://www.forexexplore.com/forex-brokers/cedarfx-reviewMetaTrader 4 yesCredit Card, Bank Wire, Bitcoin1:500yes100001
GCI Trading0https://www.forexexplore.com/forex-brokers/gci-trading-review500150% on deposithttps://www.forexexplore.com/forex-brokers/gci-trading-reviewMetaTrader 4, ActTraderyesyesBank Wire Transfer, Credit Card, Neteller, Skrill1:400IFSCyesyes110001
Axi0https://www.forexexplore.com/forex-brokers/axitrader-review2001.2https://www.forexexplore.com/forex-brokers/axitrader-reviewMetatrader 4yesyesDebit 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 Transfer1:400nonoASIC, FCA, Financial Services Authority in Saint Vincent and the Grenadinesnonoyes100001

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!

Trading financial instruments carries high level of risk to your capital with the possibility of losing more than your initial investment. This site will not be held liable for any loss or damage in result from using the information within the site including forex Broker reviews 2022, market analysis, trading signals, learning resources and comparison tables. The data within this website is not necessarily real-time nor accurate and do not represent the recommendations of the employees. Currency trading is not suitable for all investors. Before deciding to trade currency or any other financial instrument please consider consider your investment objectives, level of experience, and risk appetite. While we do our best to provide up-to-date information, we strongly encourage you to verify it directly with the broker of your choice.