We have diligently reviewed the best forex brokers in Malaysia.
Forex Trading in Malaysia is very popular among Malay residents, due to low barrier of entry, mainly thanks to low deposit requirements to open a forex trading account. Unlike in the past, Malay can now trade on forex market legally.
Any international regulated forex brokers will gladly accept Malay traders!
Best Forex Broker Malaysia
- Pepperstone – Best FX Broker Malaysia
- XM – Best Service for Retail FX Traders
- Hotforex – High Leverage up to 1:1000
- IQ Option – Best for Forex and Binary Options
Malaysian Forex Brokers Comparison
Compare Malaysian authorised forex and CFDs brokers below.
Regulation of forex brokers in 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 fx 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 Malay Trader
- Regulation & License
- Customer support
- Forex Trading Platforms
- Minimum Deposit
- Forex Demo Account
- Trading fees /spreads/
- Forex Bonuses
- Forex News and research
- Forex Signals