Best Forex Brokers in Malaysia

We have diligently compiled the list of the best forex brokers in Malaysia. There are currently over 50 forex brokers catering to Malaysia clients.  In order to prepare this forex broker overview for our readers, we had to firstly test and compare the trading platforms, education, forex  swap fees, spreads, deposits and withdrawals of all the best brokers in Malaysia.

Forex Trading in Malaysia is very popular among Malaysian investors due to low barrier of entry, mainly thanks to low deposit requirements to open a forex trading account.  Unlike in the past, Malaysian clients are now free to trade on forex market legally.

malaysia flag

Best Forex Brokers in Malaysia

  • Pepperstone – Best Forex Broker in Malaysia 2022
  • XM – Best MT4/MT5 Platforms for Retail FX Traders
  • Skilling – Best Local Forex Broker 1:500 Leverage
  • Hotforex – High Leverage up to 1:1000
  • IQ Option – Best for Forex and Binary Options

Malaysia Forex Brokers Comparison

Compare the best trading platforms in Malaysia for 2022.


Pepperstone – The Best Forex Broker in Malaysia

Founded in 2010, Pepperstone is the ultimate forex broker with ultra low forex spreads, Razor account starts from 0.00 pips for the most liquid EUR/USD currency pair with 7 USD commision. This forex broker offers you a very fast trade execution under 30 milliseconds in average. That is very fast. This broker offers multiple local payment methods available to  Malaysia traders. You can choose from some of the best forex platforms MT4/MT5 + cTrader is available + there is an option to use their own inhouse webtrader which is good enough for most clients in our opinion.


  • Over 60+ currency pairs available
  • Very tight spreads (one of the lowest in the forex industry)
  • Heavily regulated by the ASIC Australia, FCA United Kingdom


  • 200 USD minimum deposit

Is Forex Trading Legal in Malaysia ?

Yes forex trading is now legal in Malaysia. Any international regulated forex brokers will gladly accept Malaysian traders.

Forex Trading Regulation in Malaysia


Securities Commission Malaysia

Unfortunately, there is still a sense of confusion surrounding the legitimate regulatory authority for brokers within the Forex industry. For example, the Ringgit currency is overseen by the Bank Negara Malaysia, but licenses for financial companies are sorted by the Securities Commission of Malaysia. However, neither one of them is in charge of Forex broker regulation.

In reality, the best quality brokers are regulated by at least one regulator, with there being a few well-respected companies across the world. Local regulation in Malaysia is provided by The Securities Commission of Malaysia (SCM). While SCM regulation provides local protection, dealing with SCM regulated forex brokers is not a requirement in Malaysia.

Malaysian forex traders are free to choose to trade with whatever offshore forex broker they want.

Islamic Forex Accounts for Malay Forex Traders

Since Malaysia is a Muslim country, we strongly recommend to every Muslim to open an Islamic Forex Trading Account that is SWAP free, meaning the broker won’t charge you with overnight swap fees. Not all forex brokerages offer and Islamic account of course, Please check the comparison table to see which forex companies offer this account setup.

How to choose forex broker as a Malaysian

  1. Regulation & License
  2. Customer support
  3. Forex Trading Platforms
  4. Minimum Deposit
  5. Leverage
  6. Forex Demo Account
  7. Trading fees /spreads/
  8. Forex Bonuses
  9. Forex News and research
  10. Forex Signals


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