When selecting a forex broker in Malaysia, it is important to consider several factors. The first is regulation, as you want to ensure that the broker is authorized by a reputable financial regulator in Malaysia or the EU, such as the National Securities Market Commission (CNMV).
The broker’s trading platform, fees, and commissions should also be considered, along with their customer support and educational resources. Additionally, it is worth looking at the broker’s reputation, user reviews, and track record to ensure they have a good standing in the industry. Overall, selecting a trustworthy and reliable forex broker in Malaysia can help you have a better trading experience and protect your investments.
Here Is List Of Best Forex Brokers In Malaysia
To find best broker in Malaysia Wootfi cover the list of best forex brokers in Malaysia with its features .
- IG
- Saxo Bank
- FOREX.com
- XTB
- AvaTrade
- XM Group
- OANDA
- Exness
IG
A well-known online trading platform called IG lets traders in Malaysia and many other nations trade currencies. Over 80 currency pairings, including majors, minors, and exotics, are accessible to traders through them.
IG’s proprietary trading platform, which is user-friendly and provides cutting-edge charting and analysis tools, is one of its distinguishing qualities. Through their app, they also provide mobile trading, enabling users to do transactions while on the road and stay connected.
Top-tier regulatory organizations, including the Financial Conduct Authority (FCA) in the UK, oversee IG, giving traders an additional layer of security and safety. Furthermore, IG is a desirable option for forex traders due to its competitive spreads and minimal commissions.
Overall, IG is a reputable and reliable forex broker that offers a range of trading features and benefits for traders in Malaysia and around the world. However, it’s important to do your own research and ensure that IG is the right broker for your specific trading needs and goals.
Saxo Bank
A Danish investment bank by the name of Saxo Bank provides currency trading services to investors in Malaysia and other nations. More than 180 currency pairs, including majors, minors, and exotics, are accessible through them.
Saxo Bank’s own trading platform, SaxoTraderGO, which is user-friendly and offers sophisticated charting and analysis capabilities, is one of its distinguishing qualities. Through their app, they also provide mobile trading, enabling users to do transactions while on the road and stay connected.
Top-tier regulatory agencies, like the Financial Conduct Authority (FCA) in the UK, oversee Saxo Bank, giving traders an additional degree of security and safety. Saxo Bank is a desirable choice for forex traders due to its competitive spreads and minimal costs.
In order to help traders advance their knowledge and make better trading choices, Saxo Bank also offers a variety of educational materials, such as webinars, trading manuals, and market analysis.
Overall, Saxo Bank is a respectable and trustworthy forex broker that provides traders in Malaysia and all around the world with a variety of trading tools and advantages. However, it’s crucial to conduct your own investigation to confirm that Saxo Bank is the best broker for your unique trading requirements and objectives.
FOREX.com
A reputable currency broker, currency.com, provides trading services to investors in Malaysia and many other nations across the world. A large variety of currency pairs, including major, minor, and exotic ones, as well as other financial assets including commodities, indices, and shares are accessible through them.
One of FOREX.com’s standout features is its unique trading platform, which offers cutting-edge charting and analysis capabilities and is user-friendly. Through their app, they also provide mobile trading, enabling users to do transactions while on the road and stay connected.
FOREX.com is regulated by top-tier regulatory bodies, such as the Financial Conduct Authority (FCA) in the UK and the National Futures Association (NFA) in the US, which provides traders with an added layer of security and protection. Additionally, FOREX.com offers competitive spreads and low commissions, making it an attractive option for forex traders.
FOREX.com also provides traders with a range of educational resources, including webinars, trading guides, and market analysis, to help traders improve their skills and make more informed trading decisions.
Overall, FOREX.com is a reputable and reliable forex broker that offers a range of trading features and benefits for traders in Malaysia and around the world. However, it’s important to do your own research and ensure that FOREX.com is the right broker for your specific trading needs and goals.
XTB Forex
A forex broker by the name of XTB provides trading services to investors in Malaysia and many other nations worldwide. Access to a variety of currency pairs, including major, minor, and exotic pairs, as well as other financial products including indices, commodities, and equities, is made available by these companies.
One of XTB’s distinguishing qualities is its own trading platform, xStation, which offers sophisticated charting and analysis capabilities and is user-friendly. Through their app, they also provide mobile trading, enabling users to do transactions while on the road and stay connected.
With the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC) overseeing XTB, traders are given an additional measure of security and safety. Furthermore, XTB provides reasonable costs and competitive spreads, making it a desirable choice for forex traders.
To aid traders in developing their abilities and making better trading decisions, XTB also offers a variety of instructional materials, including as webinars, trading manuals, and market analysis.
Overall, XTB is a respectable and trustworthy forex broker that provides traders in Malaysia and all around the world with a variety of trading tools and advantages. But it’s crucial to conduct your own research and confirm that XTB is the best broker for your needs.
AvaTrade Forex
AvaTrade is a forex broker that provides traders in Malaysia and many other nations with trading services. A large variety of currency pairs, including major, minor, and exotic ones, as well as other financial assets including commodities, indices, and shares are accessible through them.
One of AvaTrade’s standout features is its own trading platform, AvaTradeGO, which offers sophisticated charting and analysis capabilities and is user-friendly. Through their app, they also provide mobile trading, enabling users to do transactions while on the road and stay connected.
Top-tier regulatory organisations including the Central Bank of Ireland, the Australian Securities and Investments Commission (ASIC), and the Financial Services Commission (FSC) in the British Virgin Islands oversee AvaTrade, which offers traders an additional degree of security and safety. AvaTrade is a desirable option for forex traders due to its competitive spreads and minimal commissions.
To aid traders in developing their abilities and making better trading decisions, AvaTrade also offers a variety of instructional materials, including as webinars, trading manuals, and market analysis.
Overall, AvaTrade is a respectable and trustworthy forex broker that provides traders in Malaysia and all around the world with a variety of trading tools and advantages. However, it’s crucial to conduct your own study and make sure AvaTrade is the right broker for your specific trading needs and goals.
XM Group
The XM Group is a forex broker that provides traders in Malaysia and many other nations with trading services. A large variety of currency pairs, including major, minor, and exotic ones, as well as other financial assets including commodities, indices, and shares are accessible through them.
The XM Group’s proprietary trading platform, XM MT4 and MT5, which is user-friendly and offers cutting-edge charting and analysis capabilities, is one of the company’s distinguishing characteristics. Through their app, they also provide mobile trading, enabling users to do transactions while on the road and stay connected.
The Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC) are among the major regulatory authorities that oversee XM Group, giving traders an extra measure of security and safety. Additionally, forex traders will find XM Group to be a desirable alternative due to its competitive spreads and minimal commissions.
In order to help traders advance their knowledge and make more sensible trading choices, XM Group also offers traders a variety of instructional resources, including as webinars, trading manuals, and market analysis.
OANDA
OANDA is a reputable forex broker that provides trading services to investors in Malaysia and numerous other nations worldwide. Access to a variety of currency pairings, including major, minor, and exotic pairs, as well as other financial assets including bonds, indices, and commodities, is made available by these companies.
OANDA’s proprietary trading platform, fxTrade, which is user-friendly and offers sophisticated charting and analytical tools, is one of its primary selling points. Through their app, they also provide mobile trading, enabling users to do transactions while on the road and stay connected.
OANDA is governed by prestigious regulatory authorities, such the Monetary Authority of Singapore (MAS), the Australian Securities and Investments Commission (ASIC), and the Financial Conduct Authority (FCA) in the UK, which offers traders an additional layer of security and safety. OANDA is a desirable option for forex traders due to its competitive spreads and minimal commissions.
In order to assist traders develop their abilities and make better trading decisions, OANDA also offers a variety of instructional materials, including as webinars, trading guides, and market analysis.
Overall, OANDA is a respectable and trustworthy forex broker that provides traders in Malaysia and all around the world with a variety of trading tools and advantages. However, it’s crucial to conduct independent investigation and confirm that OANDA is the right broker for your specific trading needs and goals.
Exness Forex
A forex broker by the name of Exness provides trading services to investors in Malaysia and many other nations. Access to a wide variety of currency pairs, including major, minor, and exotic pairs, as well as other financial instruments including commodities and indices, is made available by these companies.
Exness Trader, their proprietary trading platform, is one of the company’s standout characteristics. It is user-friendly and offers cutting-edge charting and analysis tools. Through their app, they also provide mobile trading, enabling users to do transactions while on the road and stay connected.
Exness is governed by major regulatory authorities, including the Cyprus Securities and Exchange Commission (CySEC) and the Financial Conduct Authority (FCA) in the UK, which offers traders an additional layer of security and safety. Exness is a desirable option for forex traders due to its competitive spreads and minimal commissions.
In order to aid traders in honing their abilities and making better educated trading decisions, Exness also offers traders a variety of instructional materials, such as webinars, trading guides, and market analysis.
Overall, Exness is a respectable and trustworthy forex broker that provides traders in Malaysia and all around the world with a variety of trading tools and advantages. You should, however, conduct your own research to confirm that Exness is the best broker for your needs.
How To Register At Forex Broker In Malaysia Step By Step Guide
Find a trustworthy forex broker that holds a Securities Commission Malaysia (SC) licence by conducting research and choosing them. A list of authorised brokers is available on the SC website.
Visit the broker’s website and click “Open Account” or “Register” once you’ve decided on one.
Name, address, date of birth, and contact information are all required fields on the registration form.
To prove your identity, present your identifying documents, such as your passport or national identification card (IC). Verify that the data on your identity documents corresponds to the data you entered on the registration form.
Complete any additional verification requirements, such as providing proof of address or answering security questions.
Once your account is approved, fund your trading account with the required minimum deposit amount. You can usually fund your account using various methods, such as bank transfer, credit card, or e-wallet.
Download and install the trading platform provided by your broker.
Log in to your trading account and start trading.
Remember to always do your research and choose a reputable forex broker that is licensed by the SC to ensure the safety of your funds and the security of your personal information.
How To Verify Above Forex Is Regulated Or Not In Malaysia?
Check the List of Regulated Brokers: The first step is to look at the Securities Commission of Malaysia’s (SCM) list of authorised forex brokers. You can look up the list of regulated entities on the SCM website. All of Malaysia’s licenced forex brokers are included in the list.
Once you have located the forex broker on the SCM website, make sure to check the licence number. The broker’s website must to also display the licence number. Verify that the licence number corresponds to the one on the SCM website.
Verify regulatory Information: On the SCM website, verify the forex broker’s regulatory information. This will contain details such as the licence type, registration number, and registration date.
Examine the broker’s website to see if there is any more information on the broker’s regulatory status. They ought to be familiar with their licence and the relevant regulating body.
Make contact with the regulatory body: You can get in touch with the regulatory body directly to confirm the forex broker’s licence if you are still uncertain about their regulatory status.
To protect your investments, it’s crucial to remember that you should only deal with licenced forex brokers.
How To Contact Forex Brokers Customer Support In Malaysia
To contact forex brokers customer support in Malaysia, you can follow these steps:
Visit Broker’s Website: Visit the website of the forex broker you want to contact. Look for a “Contact Us” or “Support” section on their website.
Check Support Options: Check the support options available on the broker’s website. Typically, forex brokers offer several ways to contact their customer support team, including email, live chat, phone, and social media.
Choose Contact Method: Choose the contact method that best suits your needs. If you have a simple question, email or live chat may be the best option. If you need immediate assistance, a phone call may be more appropriate.
Provide Relevant Information: When contacting customer support, provide relevant information such as your account number, name, and the nature of your inquiry. This will help the support team quickly identify and address your issue.
Follow Up: If you do not receive a response within a reasonable amount of time, follow up with the support team. You can also escalate your inquiry to a higher level of support if necessary.
Final Thoughts
Based on the aforementioned standards, FXTM, XM, HotForex, and Exness are some of the top forex brokers in Malaysia. But it’s crucial to do your own research and pick a broker that best satisfies your unique trading requirements and preferences.
Best Forex Brokers In Malaysia FAQ
What is the Securities Commission of Malaysia?
The Securities Commission of Malaysia (SCM) is a regulatory body that oversees the securities and futures market in Malaysia, including forex brokers.
What account types are offered by forex brokers in Malaysia?
Forex brokers in Malaysia offer different account types, such as micro, mini, and standard accounts, as well as Islamic accounts for traders who follow Shariah law.
What is the best trading platform for forex trading in Malaysia?
The best trading platform for forex trading in Malaysia depends on your individual needs and preferences. Popular options include MetaTrader 4 and 5, cTrader, and proprietary platforms offered by some brokers.
What are the fees and spreads charged by forex brokers in Malaysia?
Forex brokers in Malaysia charge different fees and spreads depending on the account type, trading platform, and other factors. It’s important to compare fees and spreads of different brokers before making a decision.
Can I trade forex in Malaysia using a foreign broker?
Yes, you can trade forex in Malaysia using a foreign broker. However, it’s important to make sure the broker is regulated by a reputable regulatory body and that they allow trading in your country of residence. Additionally, you may face additional fees and taxes when trading with a foreign broker.
