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Best Malaysia Forex Brokers for 2020

Based in Malaysia and wish to trade forex online? If so, read our guide to find out the best Malaysia forex brokers of 2020.

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If you’re based in Malaysia and you’re looking to trade forex online, you might be surprised to learn that there are heaps of platforms to choose from. We say this, as a lot of broker domains are blocked when using certain Malaysian internet service providers. As such, you might find that you need to use a VPN to access your chosen site.

In this article, we explore the best Malaysia forex brokers currently active in the market. We also give you a full breakdown of the many factors that you need to consider when choosing a broker yourself. This includes key metrics like regulation, fees, spreads, commissions, payment methods, and customer support.

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    Best Malaysia Forex Broker Sites of 2020

    So now that you know the strict criteria we used to get our top broker lists down to just five, we are now going to discuss why our chosen brokers made the cut. Be sure to read through the information thoroughly to ensure the broker is right for your personal requirements!

    Note: All of the figures discussed throughout this guide are based on US dollars. Although your primary currency is the Malaysian Ringgit, your deposits, trades, fees, and withdrawals will all be stipulated in USD.

    How to Choose a Forex Broker in Malaysia

    Although we have done the hard work for you by listing our top Malaysia forex brokers of 2020, we would suggest doing your own research prior to opening an account. This will enable you to make sure that the broker is right for your personal needs. For example, although a broker might offer super-low spreads, it might not list your preferred currency pair.

    • Islamic Swap-Free Account

    If you’re a follower of the Islamic faith, then it’s likely that you will require a swap-free account. Crucially, this is because holding a forex pair overnight will result in the charging of interest. As such, a swap-free account tailored specifically to Muslim traders ensures the payment and receipt of interest (Riba) does not occur.

    However, you should check with the broker directly on this before opening an account to ensure the swap-free account is sufficient for your religious beliefs.

    • Licensing

    As we briefly discussed earlier, you should never use a forex broker if it is not regulated. On the contrary, make sure that the broker has at least one license. This should be from a well-known regulatory body like the FCA, ASIC, or CySEC.

    • Forex Pairs

    Be sure to explore what forex pairs the broker lists. You can usually see each and every pair that the platform supports before opening an account. Simply head over to the forex department and search for the currencies you commonly trade. 

    • Payment Methods

    You’re going to be trading with real-world money, so think about which payment method you plan to use. For example, if you want to deposit funds with a debit card, make sure that the broker supports it!

    • Spreads and Commissions

    You also need to do some digging to ascertain what spreads the broker charges. More specifically, look at what the spreads are like on your preferred forex pairs. For example, although a broker might advertise spreads of just 0.2 pips, this might only be during standard hours, and on the majors.

    On top of spreads, you’ll also need to explore whether or not the broker charges trading commissions. If it does, you’ll be charged at both ends of the trade (buy and sell orders), and at a percentage of the trade size. For example, if the order is worth $2,000 and the broker charges 0.5%, you’ll pay a fee of $10.

    • Trading Tools and Research

    It’s also a good idea to explore what the broker’s research department is like. We prefer brokers that offer heaps of fundamental and technical analysis tools. This will give you the best chance possible of staying abreast with key market developments.

    • Customer Support

    Don’t forget about customer support when researching a new forex broker. Firstly, check to see what support channels are available. Live chat is the most efficient way of receiving help, although others prefer telephone or email support. Furthermore, try to stick with brokers that offer support on a 24/7 basis.

    Leverage at Malaysia Forex Brokers

    Leverage allows you to trade forex with more money than you have in your account. For example, let’s say that you have $400 in your account and you place a trade with leverage of 20:1. This means that you would be placing an order worth $8,000. With that said, although brokers will often install limits on the amount you can trade with leverage, this doesn’t apply to Malaysian residents.

    This is even the case if the broker is based in Europe, as you won’t be bound by the restrictions imposed by ESMA. As a result, your specific leverage limits will be determined by the Malaysia forex broker itself. We would suggest treading with extreme caution if you are just starting out in the forex space. While your profits can be amplified when leverage is in play, so can your losses.


    If you’re based in Malaysia and you’ve read our guide from start to finish, you should now have the required tools to find a forex broker that best meets your needs. We’ve presented fives of our top picks for 2020, and based our decisions on key metrics like regulation, trading fees, commissions, payment methods, and customer support.

    However, we would also suggest taking the time to research a broker yourself. This will ensure that the broker meets your long-term investment goals and crucially – is right for your personal requirements.


    Are Malaysia forex brokers safe?

    Your chosen Malaysia forex broker will be safe as long as it is regulated by a tier-one licensing body. This should include the likes of the FCA (UK) ASIC (Austrlia), CySEC (Cyprus) or MAS (Singapore).

    What leverage limits do Malaysia forex brokers offer?

    There are no specific leverage regulations governing Malaysia residents, so your limits will be determined by the forex broker itself.

    Should I join a commission-free Malaysia forex broker?

    By using a commission-free forex broker you stand the best chance possible of keeping your trading fees to a minimum. However, make sure you explore what spreads the broker charges, as this can make all the difference.

    What is the minimum deposit amount at Malaysia forex brokers?

    Malaysia forex brokers usually allow you to get started from just $100, although some do require more.

    What payment methods do Malaysia forex brokers support?

    This will vary from broker-to-broker, albeit, you'll normally get to choose from a debit/credit card, bank wire, or e-wallet. .

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