FXTRADING.com Malaysia Review 2024 - TU expert opinion
Is the Forex market legit in Malaysia?
Forex trading is legal in Malaysia. Anybody can be a trader. However, there are certain rules in the country that everybody has to follow. Traders in Malaysia can trade only with brokers that are regulated by the local authority. Bank NEGARA is the country’s financial regulator. The bank is responsible for issuing licenses and overseeing that companies fulfill their obligations to traders.
Malaysia is mostly a Muslim country. Therefore, availability of an Islamic account is one of the important requirements to brokers operating in this country. It is a swap-free account that complies with the Sharia Law. In this jurisdiction, traders can freely work with various trading instruments, including currency pairs, precious metals, energies. CFD trading is not allowed.
How to Trade Forex in Malaysia
In order to start trading in the Forex market in Malaysia, you need to register with a broker. The registration form differs depending on the broker. Verification is mandatory for traders from Malaysia – proof of identity and proof of address. After that you need to fund your account. Licensed brokers in Malaysia must accept the ringgit, the local currency. After that, traders can start trading.
Our Evaluation of FXTRADING.com
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
FXTRADING.com is a moderate-risk broker with the TU Overall Score of 6.47 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by FXTRADING.com clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews.
FXTRADING.com is a regulated Forex broker that provides access to trading CFDs on stocks, indices, metals and cryptocurrencies with leverage. The broker offers Metatrader, the most popular trading platform among traders, awards bonuses, streams news and Forex market analysis.
Analysis of the Main Features of FXTRADING.com in Malaysia
Traders Union analysts analyzed the key features of FXTRADING.com for traders from Malaysia. TU uses its own evaluation method, assessing each block separately. Based on the results of the assessment, an overall score is given.
Trading conditions for FXTRADING.com traders from Malaysia
It is important to assess trading conditions before you decide to work with a specific company. Traders Union analysts have prepared a comparison of FXTRADING.com trading conditions for traders from Malaysia. The experts analyzed minimum deposit, trading platforms, leverage and other important information that could impact a trader's choice of a broker.
💻 Trading platform: |
Desktop MT4, Mobile MT4, Web Trader MT4, MT5
|
---|---|
📊 Accounts: |
Alpha Account, Standard Account
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💰 Account currency: |
AUD, USD, EUR, GBP, SGD, NZD, CAD
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💵 Replenishment / Withdrawal: |
Xpay, PayTrust, Southeast Asia Local Bank Transfer and Spayz
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🚀 Minimum deposit: |
50$
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⚖️ Leverage: |
1:500
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💼 PAMM-accounts: |
Yes
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📈️ Min Order: |
0.01
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💱 Spread: |
Raw Spreads
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🔧 Instruments: |
Forex Currency Pairs, Commodities, CFDs on Indices, Spot Metals, Share CFDs, Energies, Crypto CFDs
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💹 Margin Call / Stop Out: |
100%/50%
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🏛 Liquidity provider: |
No
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📱 Mobile trading: |
Mobile Platforms
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➕ Affiliate program: |
Yes
|
📋 Orders execution: |
Market execution
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⭐ Trading features: |
Web Trader; Crypto CFDs; Customer support 24/5.
|
🎁 Contests and bonuses: |
Yes
|
FXTRADING.com Commissions and Fees
Traders Union analysts analyzed commissions and fees charged by FXTRADING.com for traders from Malaysia. Within the framework of the analysis, all types of trading and non-trading fees traders are charged with were evaluated.
The broker compensates for non-trading fees on deposits and withdrawals. As a fee for performance of transactions with financial instruments, FXTRADING.com charges spread (Standard accounts) or spread + commission per lot (Pro accounts).
Account type | Spread (minimum value) | Withdrawal commission |
Standard | $10 | No |
Pro | $3.5 | No |
FAQs
Is FXTRADING.com legal in Malaysia?
Yes. FXTRADING.com operates legally in Malaysia. The broker holds the necessary licenses.
Can you learn trading with FXTRADING.com? Does the broker offer courses for traders from Malaysia?
Yes, FXTRADING.com offers good trading courses and a lot of educational information for clients from Malaysia.
Can FXTRADING.com be trusted? Has the broker been operating in Malaysia long?
FXTRADING.com has been operating in Malaysia quite long and has a good reputation. Therefore, traders can work with FXTRADING.com.
Is FXTRADING.com suitable for novice traders from Malaysia?
Yes. FXTRADING.com offers optimal trading conditions and good education for beginners from Malaysia.
How efficient is FXTRADING.com customer support in Malaysia?
FXTRADING.com offers a sufficient number of ways to contact customer support in Malaysia, and also provides support in the state language.
Has FXTRADING.com had any incidents involving theft of funds of clients from Malaysia?
No. FXTRADING.com provides reliable security of funds of clients from Malaysia.
Will I be able to file a lawsuit in Malaysia if FXTRADING.com violates my rights?
Yes. If FXTRADING.com violates your rights, you can file a complaint with the regulator of Malaysia, and then with a court.
Can FXTRADING.com clients from Malaysia use the broker’s mobile app?
Yes. The mobile app of FXTRADING.com is available for the clients from Malaysia.
Does FXTRADING.com provide Malaysia market analysis?
Analysis of Malaysia is featured in the information provided by FXTRADING.com.
How can I withdraw funds from my account at FXTRADING.com in Malaysia?
FXTRADING.com supports bank transfers and debit/credit cards of the banks operating in Malaysia.
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.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.