If you're looking for a Best Forex Broker Malaysia, you'll want to read this guide. Here the best Forex Brokers that we have personal experience working with
Finding the best forex brokers is crucial to an overseas business or for any other reason you might need to exchange currency. Forex trading is a massive industry, with roughly 10,000,000 forex traders globally – 3.2 million in Asia alone.
If you’ve been looking for an excellent forex broker in Malaysia, we’re here to help. Here are fifteen of the best options for the best forex brokers in Malaysia.
1. Best Forex Broker Malaysia - OctaFX
OctaFX has been providing safe and secure trading services since 2011 and has gained trust among traders worldwide.
The broker offers commission-free access to financial markets and a variety of instruments, including Forex, gold, indices, stock CFDs, and crypto. This year, the company launched ultra-fast deposits for clients from Malaysia that are settled in only 15 minutes.
With OctaFX, every user can develop their perfect trading strategy using accurate built-in analytical tools and trading ideas. Moreover, the broker furnishes many educational materials, such as webinars with pro traders, guides, articles, and risk-free demo accounts to help clients reach their investment goals and profit through educated choices.
On a side note, OctaFX has also won more than 50 awards since its foundation, including the 2022 ‘Best Forex Broker Malaysia’ from Global Banking & Finance and the 2022 ‘Best Global Broker Asia’ award from International Business Magazine.
2. Best Forex Broker Malaysia - eToro
Founded in Tel Aviv in 2007, eToro is one of the most notable names in forex trading. Valued at nearly $9 billion, this titanic company operates with offices in Cyprus, the United States, Australia, and the United Kingdom, with its primary headquarters in Central Israel.
eToro’s operations continue well past only forex trading. They provide education courses, social investment opportunities, and much more for you to consider. Because the company has so many avenues of success, it’s a reputable team for you to trust as arguably the best forex broker Malaysia has access to.
3. Best Forex Broker Malaysia - IC Markets
IC Markets is another large name in the forex broker business and one that provides fantastic insight into the market. IC Markets provides what they refer to as “The Raw Spread Advantage,” which lets you see the best possible prices without restriction.
IC Markets flaunts itself as the “multi-asset trading platform of choice for high volume traders, scalpers, and robots.” It may not come in first if your forex needs are small, but IC Markets is an excellent choice if you’re moving in bulk.
4. Best Forex Broker Malaysia - IQ Option
The third is IQ Option, which is excellent if you intend to trade more than forex. IQ Option provides stock and crypto trading as well as their forex, making it a great move for anyone who wants to keep most of their assets with one broker.
In addition, IQ Option offers a free practice account. Using this feature is an incredible idea for newcomers to the trading scene or for some who might not yet have the funds to trade aggressively. Whether you’re a beginner or an expert, IQ Option is a strong choice.
5. Best Forex Broker Malaysia - Plus500
Plus500 offers a complete package for everything you’ll need on your forex adventure. Plus500 also offers the ability to trade other shares, like crypto, different commodities, options, and more. The platform is perfect for you to use as a forex broker while using it for other trading.
Because of this, it’s excellent if you don’t intend to focus solely on forex trading. Plus500 can help you diversify your investments without charging commissions and a leverage of up to 1:300.
6. Best Forex Broker Malaysia - GMI Markets
The fifth broker on our list is GMI Markets, a broker made with trading robots in mind. That makes it a great choice for anyone who intends to let bots handle most of their trading. However, don’t think that means it’s only good for people handing their trading off to trading robots.
GMI Markets is great for beginners with a feature called the “Cent Account.” You can trade starting at low values with GMI, making it much easier to keep your risks minimal. Consider GMI a fantastic option for you to learn the ropes before moving to another forex trading broker in the future.
7. Best Forex Broker Malaysia - Vantage
Vantage is another strong option if you intend to trade more than forex. With Vantage, you can focus on a variety of different trading options to make sure that you aren’t leaving all your assets in one selection. With access to more than 400 commodities, forex choices, and CFDs, you can find something to bolster your portfolio.
Another great perk of Vantage is that they’re focused heavily on innovation and sustainability. One of the critiques thrown towards crypto and trading is how power-intensive it can be. Crytpofarming has had negative impacts on the environment, which don’t seem ready to fade soon.
As one of the best forex brokers you can find, Vantage focuses on lowering these environmental impacts without sacrificing performance. They’ve partnered with McLaren’s recent efforts to raise awareness of environmental change and what we can do to work together against it.
Of course, that isn’t to say that their only perk is environmental consciousness. Vantage is a wonderful choice for its strong portfolios, plethora of choices, and ease of use. They also offer a demo account so that you can see exactly what you’re working with beforehand.
8. Best Forex Broker Malaysia - CMC Markets
CMC Markets is another option that offers a risk-free demo so that you can see what you’re getting into. Features like this are excellent for beginners that want a look into the platform before pulling the full trigger. Past this, one of our favorite things about CMC Markets is the large number of options they give.
Forex trading, indices, cryptocurrencies, commodities, and even treasuries are all available with CMC Markets. Such a spread of options makes it wonderful for the eclectic trader. However, you may prefer something with its full focus on forex instead.
CMC also offers several products and courses for you to become a better trader. Looking into the educational courses, CMC Markets offers can help you learn everything necessary to perfect your trading. By doubling on its effectiveness like this, CMC Markets makes itself one of the best platforms for forex trading Malaysia has available.
9. Best Forex Broker Malaysia - AvaTrade
AvaTrade is another eclectic trading platform that offers an enormous variety of instruments. ETFs, bonds, indices, FXOptions, forex, and much more are all easy to find on AvaTrade. Like CMC Markets, AvaTrade also offers educational options to help you make the best possible choice while trading.
AvaTrade’s educational options are where they shine. If you’re a beginner, you would struggle to find a better forex trading broker anywhere in the world. With trading videos to help coach beginners from the first step up to expertise, it can’t be missed.
But if you’re an expert, there’s still plenty to learn. AvaTrade can help teach you about online trading strategies, different order types, and economic indicators for a trade.
Whether you’re trading forex or moving your entire portfolio to this broker, AvaTrade is a fantastic choice. Even if you decide not to use them as a broker, we recommend checking out their thorough educational content. The knowledge this broker gives you will help you no matter where you end up completing most of your trades.
10. Best Forex Broker Malaysia - IG Group
IG Group is one of the strongest titans in trading, and for a good reason. Whether you’re an experienced trader or a complete beginner, they have what you need to start trading with them immediately.
If you’re new to trading, IG Group also offers a selection of educational materials. You’ll also enjoy round-the-clock support and a free demo account. IG Group will help you learn to trade and encourage you to utilize their platform to do so.
If you’re experienced, you can enjoy having a team of experts on call no matter what time it is. You’ll also have tight spreads and fast execution to get your trade done quickly. IG Group is also the world leader in CFD trading, making them a good choice if you intend to trade more than forex.
11. Best Forex Broker Malaysia - Swissquote
If you’re looking for a wide variety of options, Swissquote is the best Malaysia forex broker you can find. Swissquote offers an enormous number of trading opportunities with more than 3,000,000 products available. These range from crypto-assets to forex and CFDs.
Swissquote is also partnered with the Swiss Red Cross, donating a great deal to the charity. They also help encourage their traders to donate to the charity, helping to raise funds for the needy.
12. Best Forex Broker Malaysia - FxPro
As the name suggests, FxPro is built around trading forex rather than alternative instruments. However, you can still trade several CFDs, oil, gold, and more with FxPro.
That said, one should note that FxPro warns many away from trading CFDs. They state on their website that more than 84% of investors lose money when using CFDs. With that in mind, you may want to take your trading in such a category elsewhere.
But if you’re only looking for forex, FxPro is tough to beat. They flaunt themselves as the world’s first-place FX broker, with 15+ years of experience and excellence. They offer roughly 70 major, minor, and exotic currency pairs with strongly competitive listings.
So, in short – FxPro is one of the best forex brokers, but you may want to stick to forex with them.
13. Best Forex Broker Malaysia - ActivTrades
ActivTrades is one of the most reputable names in any trading market across the world. With a volatility-optimized trading experience, ActivTrades does its best to help you trade safely without the risk other platforms accept.
Another way they do this is with fully automated trades and fast execution. They also have no hidden fees to help you stay certain about what you’re trading. By doing so, the transparent pricing helps you place a trade without having to second-guess, knowing exactly what you’re investing.
14. Best Forex Broker Malaysia - Pepperstone
Near the end of our list, Pepperstone provides a strong showing for trading. You can trade in a great variety of instruments, including gold, crypto, oil, and more. Pepperstone focuses on volatility to help you get the best trade you can as the markets shift and change.
Another great feature of Pepperstone is the “refer a friend” feature, with two provided plans. One allows you to earn twenty free trades when a friend opens and funds an account. Another allows up to $1,000 cash for you and your friend, provided other requirements have been met.
Pepperstone offers retail and professional membership. Along with some marketing analysis tools, there’s never anything going under Pepperstone’s radar. Overall, Pepperstone provides a fantastic broker in almost every trading category, including forex.
15. Best Forex Broker Malaysia - Saxo Bank
The fourteenth is Saxo Bank, which provides a variety of exceptional features. One of the strongest is self-managed investing, providing you with everything you need to take charge of your own investments.
If you prefer to trade over control, then managed portfolios provide automated investing and trading strategies. Expert insights also help you keep track of the market to know what trades you should look towards. Finally, intuitive trading tools provide investment platforms depending on your needs and experience.
You can choose from a range of products across global markets, including forex, ETFs, bonds, mutual funds, futures, and more. Whether you’re focusing on self-investing or giving over control, having such a plethora of choices is invaluable. Overall, Saxo Bank is a steady, average platform that provides you with everything you need.
16. Best Forex Broker Malaysia - FXOpen
The last forex broker to mention is FXOpen, and you would struggle to find a better choice. FXOpen is a “True ECN/STOP broker,” making sure there’s no conflict of interest in their trading. They also offer low-cost trading and low commissions, helping more of your investment return to your pocket.
FXOpen also offers an extremely fast execution to help keep your investments moving. With more than 600 markets offered, crypto options, and commodity trading, FXOpen is more than just a forex trading broker. Providing you with your choice of expert advice and trading strategies, this broker is among the strongest for forex Malaysia and beyond.
Best Forex Broker Malaysia
Picking the best forex brokers is difficult, but each of these fifteen options is a strong showing of the best forex broker Malaysia has to offer. Consider looking through each of these and seeing what best fits your needs. While we recommend all fifteen of these options, it’s great for you to see which one will work best for your particular case.
If you found this article on trading forex in Malaysia helpful, browse our Tech & Finance section for more valuable content!
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