Trading in financial markets requires the right choice of a broker, as security of traders’ funds, their profit and opportunities depend on it. Before you start working with a company, it is important to comprehensively assess it. Traders Union analysts have already done it for you. The experts prepared a review of the Best MT5 Brokers in Malaysia for 2024. Five companies that enjoy huge popularity in Malaysia were selected and compared between each other.
1
RoboForex - Best in Malaysia for 2024
RoboForex bonus programs are the company's strong points. Every trader gets a $30 Welcome Bonus, if they deposit $10 or more to their account. Additional bonuses include 5%-15% cash back on the fees depending on the trading volume, as well as additional 10% extra funds for more than 1,000 traded.
The minimum deposit on all accounts except R StockTrader is $10. The minimum deposit for trading stocks on the R StocksTrader and copying trades on the CopyFx platform is $100. The spread on Prime and ECN accounts is floating, from 0 pips, on Pro and ProCent accounts – floating from 1.3 pips. You can trade 36 currency pairs, metals and CFDs on this type of account.
For trading, RoboForex has available the following applications: MetaTrader 4, MetaTrader 5, and R StocksTrader, as well as its web terminal, on which you can work on real and demo accounts.
Leverage is up to 1:300-1:500 depending on the account type, as required by the regulatory authorities. The leverage on the cent account is up to 1:2000. On standard accounts, manual increase of leverage to 1:2000 is possible during registration, but this option is subject to certain rules. This parameter is appreciated by experienced traders and amateurs of aggressive trading. With RoboForex, you can earn not only on trading but also on the affiliate program, making a profit from users you have referred to a broker. Multilingual support helps market participants solve their pressing problems 24/7.
2
Exness - Best in Malaysia for 2024
Due to an expanded range of trading accounts, Exness is suitable for both professionals and novice traders with little or no experience. The former trade on Pro accounts, and the latter trade on standard and cent accounts. Occasionally, Exness pays bonuses to its new and existing clients.
Not every broker can compete with the range of trading instruments offered by Exness. The company provides 5 classes of CFDs. Commodities can be split into two more groups — metals and energies. The choice of currency pairs is one of the widest on the market. There are over 100 pairs, including majors, minors, and exotics. Leverage is up to 1:2,000 on all account types. Further, active traders can use unlimited leverage subject to requirements for the number of traded lots. The requirements for standard and professional account types are 5 lots, for the cent account, it is 500 lots. The swap-free option is available for all account types.
Market execution is available for trades with currency pairs, indices, stocks, and commodities. Trades on the Pro account are executed instantly. This rule doesn’t apply to cryptocurrencies. Only market execution is available when trading those. Trading conditions on one account type on different platforms are similar. That is, swaps and spreads for Standard account types on MT4, MT5, or Exness in-house platforms are the same.
3
FBS - Best in Malaysia for 2024
The FBS brokerage company offers very attractive trading conditions for traders living all over the world. The minimum trade volume is 0.01 lot for all trading accounts. The minimum deposit is EUR 10 and the spread is 1 pip. Traders can connect an Islamic account option to all live accounts, allowing them to trade according to Sharia law. Popular and exotic currency pairs, indices, futures, and metals are offered as trading instruments.
4
TeleTrade - Best in Malaysia for 2024
TeleTrade offers its clients rather enticing trading conditions. The minimum trade volume is 0.01 lots for all trading accounts, and the minimum spread is 0.2 pips. The minimum deposit is $10. The company's clients can trade on three types of real accounts, as well as copy trades of experienced traders. The broker offers wide range of financial instruments: in addition to currency pairs, you can trade indices and cryptocurrencies.
5
Vantage Markets - Best in Malaysia for 2024
Vantage Markets broker offers clients 1000+ CFD instruments, including 57 currency pairs. The company provides standard platforms MetaTrader 4 and MetaTrader 5 for trading. There is also a proprietary trading terminal: Vantage Markets App, which is compatible with iOS and Android devices.
Clients have access to a standard STP account and two types of ECN accounts (including RAW ECN). Traders are offered margin trading, with leverage ratio going up to 1:500. Vantage Markets supports swap-free trading for Muslim clients. Beginners can practice on a free demo account, which is provided without restrictions.
TOP 5 Comparison
In order to choose the Best MT5 Brokers in Malaysia in 2024, TU analysts chose 5 best brokers in this country. In the table below, you can see a basic comparison of these companies. Experts selected only the most reliable brokers that are popular among traders in Malaysia.
| RoboForex | Exness | FBS | TeleTrade | Vantage Markets | |
|---|---|---|---|---|---|
|
Trading platform |
MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader |
Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 |
MT4, Mobile Trading |
MT4, MT5 |
MT4, MT5, WebTrader, Mobile Apps |
|
Min deposit |
$10 |
$10 |
$1 |
$1 |
$50 |
|
Leverage |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
|
Trust management |
No |
No |
No |
No |
No |
|
Accrual of % on the balance |
No |
No |
No |
No |
No |
|
Spread |
From 0 points |
From 1 point |
From 0.2 points |
From 0.8 points |
From 0 points |
|
Level of margin call / stop out |
60% / 40% |
No |
40% / 20% |
70% / 20% |
100% / 50% |
|
Execution of orders |
Market Execution, Instant Execution |
Market Execution, Instant Execution |
Market Execution |
Market Execution, Instant Execution |
Market Execution |
|
No deposit bonus |
No |
No |
$5 |
No |
No |
|
Cent accounts |
Yes |
No |
Yes |
No |
No |
TU Expert Review for the best MT5 Brokers in Malaysia
Financial expert and analyst at Traders Union
Anton joined Traders Union as a financial expert and analyst in 2013. He performs comprehensive internal testing of brokers as a trader. Essentially, Anton “test drives” brokers: he checks the operation of the website and user account, the speed and effectiveness of customer support team, stability of the software, deposit and withdrawal processing times, legal documents of companies and also all additional services (VPS, affiliate programs, contests, bonuses, educational programs, etc.). Based on the results of his “inspections”, he prepares expert conclusions about the operation of brokerage companies in the Forex, stock and binary option markets and also of the cryptocurrency exchanges.
His opinion as for the best MT5 Brokers in Malaysia is posted below.
RoboForex - TU Expert Review
Over the years, this broker has shown itself to be a reliable and trusted partner. RoboForex provides clients with the best conditions: tight spreads from 0 pips, the highest execution speed, and micro-accounts with a lot of 0.01. The positive feedback from real traders about RoboForex, instant withdrawal of funds, and operational support are what impress me about this broker. The brokerage company offers quality services to both beginners and seasoned traders. Over the years of cooperation with RoboForex, the broker has not received any significant claims against it. Therefore RoboForex is quite popular among Traders Union clients. All financial issues and claims on the broker's work are resolved by the company's representatives as quickly as possible and within minimum time. RoboForex always meets its clients and partners halfway. Following the mass of positive reviews about the work of roboforex.com, Traders Union recommends this company as a trusted broker with a high trust rating.
Exness - TU Expert Review
Exness has been providing its services since 2009. Over this period, the company has opened its representative offices worldwide, obtained licenses from many regulatory authorities, and provided in-house platforms for active and passive trading. Its client investments are protected by the Compensation Fund of the Financial Commission. Additional security measures, such as holding client funds in segregated accounts, ensure their safety and blocking from unauthorized use. Today, Exness is one of the biggest European and global brokers with a monthly trading volume of $4.44 trillion. This data is provided on the company’s website in the public domain. Also, there are reports of independent audits regularly held by Deloitte, a highly reputable auditor. Exness wants to be a universal broker for traders with any capital, experience, and strategy. Moreover, its partnership programs with favorable conditions allow the broker to expand its already extensive client base.
FBS - TU Expert Review
The FBS broker fulfills its obligations as a partner to Traders Union and is recognized by the members of the Union as a company that offers clients optimal trading conditions. The FBS brokerage company provides traders with several trading accounts to choose from: a free demo account and several types of real accounts with different conditions. This allows its clients to choose the best option based on the trading strategy and financial instrument, as well as individual requirements. The broker provides all traders with negative balance protection. Considering all this, we can say that the FBS broker is suitable for both novice traders and professionals of foreign exchange trading. It should be noted that the company's support service works around the clock, 7 days a week, and you don't have to wait long for an answer. The broker's website is simple, you can understand it intuitively.
TeleTrade - TU Expert Review
Traders Union has been working with the company since 2012. Over this time, a lot of reviews have been received about the broker from the TU clients, which you can find on this page. All reviews are moderated and then published. Therefore, they contain relevant information about traders’ experience of working with TeleTrade. Each TU client who opened an account with a brokerage company is entitled to free legal support, as well as advice on general issues related to the broker’s performance. TeleTrade Company offers its clients the opportunity to trade 28 currency pairs, as well as metals, indices, stocks and energies. Cryptocurrency trading is also available. Traders canopen a free demo account and trade virtual funds. The broker also provides several types of real accounts, which allows you to choose the best option in terms of conditions. Thanks to a large analytical section and loads of educational information, the company attracts a lot of novice traders. A wide range of technical analysis tools and the possibility to use various strategies, including pipsing, are the main reasons why experienced traders open an account with TeleTrade.
Vantage Markets - TU Expert Review
Vantage Markets is the broker best suited for traders who prefer ECN trading. This gives users direct access to liquidity providers and can save on trading fees. The company offers two types of ECN accounts at once, one of which is for professional traders with a large deposit. Vantage Markets will be the optimal choice for clients who are primarily interested in trading. However, there are few options for passive investing. The company offers a vast array of currency pairs and does not impose restrictions on trading strategies. The company is also suitable for clients who prefer automated trading. Trading robots can be used without restrictions. Traders can choose an attractive type of commission for themselves: spread or fixed fee. To do this, you need to select the appropriate type of account. The size of the initial deposit can be considered quite low. The broker focuses on the safety of clients' funds, so traders will have to go through additional checks to withdraw funds. The company's technical support service is efficient and responds quickly.
What is MT5?
MT5, or MetaTrader 5, is a powerful trading platform that's a favourite among traders all around the globe. Designed by MetaQuotes Software, MT5 takes trading to the next level by providing a host of features.
You see, it supports more timeframes and more order types than its predecessor, MT4. It offers 38 built-in indicators, 46 graphical objects, 22 timeframes, and even an economic calendar. The depth of market functionality and embedded technical analysis tools allow traders to keep their fingers on the pulse of the financial markets.
For algorithmic traders, MT5 has an improved scripting language known as MQL5, making it more efficient and versatile for automated trading strategies. In short, MT5 stands as a comprehensive, multi-functional platform that caters to both beginners and seasoned professionals. Whether you're into Forex, stocks, or futures, MT5 has got you covered.
How to Compare MT5 Brokers in Malaysia?
Comparing MT5 brokers in Malaysia is a critical task, especially if you want to find the right fit for your trading needs. Here's how you can make an informed decision:
Regulation
Ensuring that the broker is regulated by recognized financial authorities like the Securities Commission Malaysia (SCM) is vital. A regulated broker adheres to strict rules and regulations, providing an added layer of security to your investments.
Assets Available
Different brokers offer various assets to trade. Some might specialize in Forex, while others might provide access to stocks, commodities, or cryptocurrencies. Determine what assets you want to trade, and choose a broker that caters to your specific needs.
Trading Costs
The thing is, trading costs can eat into your profits. Compare spreads, commissions, overnight fees, and other charges. A broker with competitive rates allows you to keep more of your earnings.
Platform and Tools
MT5 is a powerful platform, but brokers may offer additional tools and features. Look for user-friendly interfaces, robust charting tools, and other resources that will aid in your trading journey.
Customer Support
Reliable customer support is vital. Whether it's a technical issue or a question about your account, you want to know someone is there to assist you. Look for brokers with multiple support channels like live chat, email, or phone.
Execution Speed
In the fast-paced world of trading, execution speed can make or break a trade. Look for brokers with high-speed execution, minimal slippages, and a solid technical infrastructure.
Account Types and Leverage
Different brokers may offer various account types with different leverage options. Analyzing your trading style and risk tolerance will help you choose the right account type and leverage level.
How to Compare MT5 Brokers in Malaysia?
Comparing MT5 brokers in Malaysia is a critical task, especially if you want to find the right fit for your trading needs. Here's how you can make an informed decision:
Regulation
Ensuring that the broker is regulated by recognized financial authorities like the Securities Commission Malaysia (SCM) is vital. A regulated broker adheres to strict rules and regulations, providing an added layer of security to your investments.
Assets Available
Different brokers offer various assets to trade. Some might specialize in Forex, while others might provide access to stocks, commodities, or cryptocurrencies. Determine what assets you want to trade, and choose a broker that caters to your specific needs.
Trading Costs
The thing is, trading costs can eat into your profits. Compare spreads, commissions, overnight fees, and other charges. A broker with competitive rates allows you to keep more of your earnings.
Platform and Tools
MT5 is a powerful platform, but brokers may offer additional tools and features. Look for user-friendly interfaces, robust charting tools, and other resources that will aid in your trading journey.
Customer Support
Reliable customer support is vital. Whether it's a technical issue or a question about your account, you want to know someone is there to assist you. Look for brokers with multiple support channels like live chat, email, or phone.
Execution Speed
In the fast-paced world of trading, execution speed can make or break a trade. Look for brokers with high-speed execution, minimal slippages, and a solid technical infrastructure.
Account Types and Leverage
Different brokers may offer various account types with different leverage options. Analyzing your trading style and risk tolerance will help you choose the right account type and leverage level.
Should I Use MT5?
MetaTrader 5, or MT5, is a prominent trading platform known for its versatility and advanced features. As a trader, you might be contemplating whether MT5 aligns with your trading goals and strategies. To assist you in this crucial decision, let's delve into the main advantages and disadvantages of using MT5:
👍 Advantages:
•Versatility: Supporting various markets like Forex, stocks, and commodities, MT5 caters to diverse trading styles.
•Advanced Tools: With 38 built-in indicators and 21 timeframes, MT5 offers comprehensive analysis capabilities.
•Algorithmic Trading: The MQL5 language allows for the creation of sophisticated trading algorithms, an attractive feature for those interested in automated trading.
•Multi-Language Support: Get this, MT5 supports different languages, accommodating traders globally.
•Economic Calendar: An integrated economic calendar provides vital market insights directly within the platform.
👎 Disadvantages:
•Complexity: Some beginners might find MT5's multitude of features overwhelming.
•Compatibility: If transitioning from MT4 to MT5, be aware of compatibility issues, as MT4's indicators and EAs don't function directly on MT5.
•Higher Resource Consumption: The thing is, MT5's higher resource consumption might impact performance on older computer systems.
Is MT5 Trading Legal in Malaysia?
Yes, MT5 trading is legal in Malaysia. Traders can freely use MetaTrader 5 to engage in various financial markets like Forex, commodities, and stocks. However, it's essential to operate through a broker that's regulated by relevant Malaysian authorities, such as the Securities Commission Malaysia (SCM) or Bank Negara Malaysia (BNM).
Working with a regulated broker ensures compliance with local laws and regulations, providing traders with a layer of protection and security. Always conduct due diligence on your chosen broker to verify their regulatory standing, as this will help you navigate the trading landscape in Malaysia with confidence and legal assurance.
Summary
Many brokers operate in Malaysia, but not all of them are reliable or offer attractive trading conditions. TU experts selected 5 companies and rated them based on collected data. By reviewing them, you will learn about the Best MT5 Brokers in Malaysia 2024 and will be able to evaluate the pros and cons of its closest competitors.
Overall score of the best MT5 Brokers in Malaysia
| RoboForex | Exness | FBS | TeleTrade | Vantage Markets | |
|---|---|---|---|---|---|
|
Overall score |
8.61 |
7.58 |
8.28 |
7.19 |
7.32 |
|
Execution of orders |
8.95 |
9.6 |
9.5 |
3.21 |
8.2 |
|
Investment instruments |
8.2 |
8.79 |
6.96 |
6.7 |
9.19 |
|
Withdrawal speed |
9.71 |
8.79 |
9.57 |
7.79 |
8.2 |
|
Customer Support work |
9.17 |
9.29 |
7.58 |
8.41 |
6.64 |
|
Variety of instruments |
8.75 |
8.02 |
7.02 |
8.75 |
7.37 |
|
Trading platform |
6.86 |
1 |
9.03 |
8.29 |
4.31 |
|
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FAQ
What brokers are good with MT5?
Several brokers are known for their excellence in offering MT5 as a trading platform. Among them, Exness, RoboForex, and IC Markets stand out for their robust technology, extensive asset offerings, and strong customer support. These brokers are recognized globally and provide a seamless trading experience on the MT5 platform.
Which brokerage is the best in Malaysia?
Determining the "best" brokerage in Malaysia depends on individual trading needs and preferences. Factors to consider include regulation, trading costs, asset availability, customer support, and trading tools. Many traders in Malaysia prefer brokers that offer MT5 and are regulated by authorities like the Securities Commission Malaysia (SCM). Careful research and comparison of these factors will lead you to a brokerage that aligns with your trading goals.
Is MetaTrader legal in Malaysia?
Yes, MetaTrader, including both MT4 and MT5, is legal in Malaysia. Traders can utilize these platforms through regulated brokers that comply with Malaysian laws. Ensuring that your chosen broker is regulated by the Securities Commission Malaysia (SCM) or Bank Negara Malaysia (BNM) will provide you with legal security and confidence in your trading activities.
What is the minimum deposit in MT5?
The minimum deposit to trade on MT5 varies across different brokers. It can range from as low as $1 to several hundred dollars, depending on the broker and the type of account you choose. Brokers like Exness, RoboForex, and IC Markets offer various account types with different minimum deposit requirements. Always check the specific terms and conditions of the broker to find an account that fits your budget and trading style.
What learning instruments can a broker offer?
Brokers offer various educational options. These include full-fledged educational courses, or video tutorials, articles, and books. Companies also often hold seminars and webinars.
Does the choice of a beginner differ from the choice of an experienced trader?
Yes. A novice trader should primarily consider the availability of educational tools and a demo account, as well as basic assets. A more experienced trader is interested in wider opportunities on advanced account types, a wider choice of instruments for technical analysis, and a greater number of trading instruments.
What is a demo account and why is it important?
On a demo account, you trade by using virtual funds. It is important to choose a broker offering a demo account both for beginners, who are only learning, and for experienced traders, who can use this account type to test new strategies or EAs risk-free.
How much money do I need in order to start working in the financial markets?
The initial capital depends on the assets you plan to trade. However, in the majority of cases, $300-500 is a good amount for a start.
Best MT5 Brokers by Countries
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.
Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).