Traders Union (TU) analysts have prepared a comparative analysis of the best brokers Malaysia in 2024. Experts performed the analysis taking into account the specifics of trading in the country. In their evaluation, TU experts use over 100 criteria that are split into groups. They have collected all the necessary data providing a possibility for novice traders from Malaysia to give an unbiased evaluation to a broker. Using this information, a user can choose the company that meets his criteria.
The Most Reliable Brokers Malaysia by TU include the following:
The minimum deposit in RoboForex is $10. Leverage up to 1:2000. Traders choose RoboForex for reliability, favorable trading conditions, minimum spreads, and commission fees. The company is recommended for beginner traders and experienced investors.
Exness broker is a trusted broker partner that is compliant with all relevant terms. Exness complies with all payment obligations and pays money earned.
FBS is a broker for those who appreciate a variety of trading instruments and prompt support. The company is suitable for both beginners and experienced traders working on PCs and smartphones.
FxPro is a reliable broker company that offers market access to all traders, regardless of their level of knowledge and experience. Broker's clients are protected from negative balance; their activities are carried out in comfortable conditions and with competent professional support.
AMarkets is a broker that is more suitable for professional trading. Everything here is designed to accommodate trading with EAs and that is the broker’s strength. The weakness of the broker is that it won’t be easy for traders without experience to work here.
Best forex brokers for beginners in Malaysia in 2024
| RoboForex | Exness | FBS | FxPro | AMarkets | |
|---|---|---|---|---|---|
Trading platform |
МТ4, МТ5, R StocksTrader, R MobileTrader, R WebTrader |
MetaTrader 4/5 (desktop, web, and mobile), Exness Terminal (web), and Exness Trade App (mobile) |
MetaTrader 4, MetaTrader 5, FBS Trader |
MetaTrader 4, MetaTrader 5, cTrader, FxPro Edge |
МТ4, МТ5 (all modifications), AMarkets App |
Min deposit |
$10 |
$10 |
$1 |
$100 |
$100 |
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 |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Spread |
From 0.0 points |
From 1.0 points |
From 0.2 points |
From 0.0 points |
From 0.0 points |
Level of margin call / stop out |
60% / 40% |
0% / 60% |
40% / 20% |
25% / 20% |
50% / 20% |
Execution of orders |
Market Execution, Instant Execution |
Market Execution, Instant Execution |
Market Execution |
Market Execution |
Market Execution, Instant Execution |
No deposit bonus |
No |
No |
$5 |
No |
No |
Cent accounts |
Yes |
No |
Yes |
No |
No |
There are certain specifics in trading, which novice traders residing in the territory of Malaysia need to know about:
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Novice traders need educational courses. The bigger the educational blocks, the more useful knowledge you will gain.
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Take notice of the availability of a demo account or a cent account. Traders can use these accounts to practice without considerable costs. A demo account allows you to work with virtual money, and a cent account - with micro lots, where your profit or loss amounts to just several dollars or even cents.
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When choosing a broker, it is important to evaluate its fees schedule. Novice traders should check out the fees on cent or basic accounts.
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If a novice trader professes Islam, he needs to make sure that an Islamic account is available. it is a special swap-free account that does not violate the Sharia law.
1
Best Forex broker for beginners in Malaysia - RoboForex
RoboForex is a brokerage company that was founded in 2009. RoboForex is a leading software developer in the Forex industry and one of the best Forex brokers based on client reviews.
RoboForex is recognized as a reliable partner by the most respected financial market experts. The company has won numerous prestigious awards. The RoboForex group of companies has an international license to provide services from FSC Belize (license No. 000138/437).
👍 Advantages of trading with RoboForex for traders from Malaysia:
•Availability of favorable trading conditions and a minimum deposit
•Unique investment program CopyFx
•Highest affiliate payments: up to 84% of the fee paid by the referral
•Market launch - STP and ECN
•Instant withdrawal of funds
•Minimum deposit - $10
👎 Disadvantages of RoboForex for traders from Malaysia:
•A small number of currency pairs - 36, for accounts: Pro, Pro-Cent, ECN, Prime
•Lack of tools when trading on the R StocksTrader platform
RoboForex Commissions & Fees for traders from Malaysia
RoboForex charges trading fees. The fees are charged as the spread. In the fees review for traders from Malaysia, you can learn about their rates depending on the account type.
RoboForex Commissions and Fees in Malaysia
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
Pro |
$13 |
No |
Pro-Cent |
$13 |
No |
ECN |
$3 |
No |
Prime |
$1 |
No |
2
Best Forex broker for beginners in Malaysia - Exness
The Exness brand is known worldwide due to its profitable trading conditions, high-security level, and wide range of financial instruments. It focuses on trading CFDs, especially currency pairs. Cryptocurrencies, commodities, stocks, and derivative stock indices are also available. Exness offers account types for novice traders, more experienced traders, and professionals. It allows traders to use a variety of strategies including passive ones, such as copy trading and algorithmic trading. The proprietary Exness platform for social trading is used by over 20,000 investors globally. The broker’s activities are legal and its services are available in over 130 countries. Exness is supervised by 8 financial commissions, including CySEC (Cyprus, 178/12), one of the strictest European regulators, and FCA (UK, 730729), FSA (Seychelles, SD025), FSC (BVI) SIBA/L/20/1133, CBCS (Curacao, 0003LSI), FSCA (South Africa, 51024), and CMA (Kenya, 162). The broker offers demo and cent accounts for novice traders, as well as standard and ECN account types for experienced traders.
👍 Advantages of trading with Exness for traders from Malaysia:
•Availability of 8 licenses and a membership in the Financial Commission with its own compensation fund to insure traders against losses;
•Wide choice of account types — Standard, Pro, Cent, Swap Free, and Demo;
•Wide range of CFDs, including over 100 currency pairs;
•Zero deposit and withdrawal fees;
•Proprietary platforms for active and social trading, as well as all versions of classic MT4 and MT5.
👎 Disadvantages of Exness for traders from Malaysia:
•The broker’s website offers almost no educational materials;
•24/7 support isn’t available in all languages.
Exness Commissions & Fees for traders from Malaysia
Exness charges trading fees. The fees are charged as the spread. In the fees review for traders from Malaysia, you can learn about their rates depending on the account type.
Exness Commissions and Fees in Malaysia
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
Standard Cent |
$0.3 |
No |
Standard |
$3 |
No |
Standard Plus |
$10 |
No |
Raw Spread |
$0 |
No |
Zero |
$0 |
No |
Pro |
$1 |
No |
3
Best Forex broker for beginners in Malaysia - FBS
FBS (fbs.com) is an international broker operating in 190 countries. The brokerage company has been on the market for over 10 years, and during this time it has earned about 40 international awards. It is regulated by the CySEC under license number 331/17 and provides flexible conditions for Forex trading. In addition to classic currency pairs, the company's clients can trade indices, futures contracts, exotic currencies, and metals. FBS is especially popular in Asian countries such as India, Malaysia and Indonesia.
👍 Advantages of trading with FBS for traders from Malaysia:
•negative balance protection;
•a large selection of trading instruments;
•the support service works 24/7.
👎 Disadvantages of FBS for traders from Malaysia:
•no cryptocurrency;
•auto copying is not available;
•no PAMM accounts;
•not suitable for short-term trading, such as scalping;
•the support service works in a limited number of languages;
•only two real accounts.
FBS Commissions & Fees for traders from Malaysia
FBS charges trading fees. The fees are charged as the spread. In the fees review for traders from Malaysia, you can learn about their rates depending on the account type.
FBS Commissions and Fees in Malaysia
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
Standard |
From $1.7 |
No |
Cent |
From $1.3 |
No |
4
Best Forex broker for beginners in Malaysia - FxPro
The FxPro broker was registered in July 2006 in Cyprus. The company’s activities are licensed by financial regulators: CySEC, 078/07 (Cyprus), Bahamas SCB (SIA-F184), FCA, 509956 (UK), and South African FSCA (45052). FxPro is successfully operating in more than 170 countries for retail and institutional clients. The broker has received more than 85 awards, including “Best Forex Trading Platform” and “Best Trading Platform”. FxPro has become known for providing the best trading tools. With FxPro broker, traders can trade more than 70 currency pairs, futures and stocks (Twitter, Apple, Google). The broker has over 2,100 trading assets in its pool, including cryptocurrencies, which are subject to the account type. The basic set of assets is available on cTrader accounts, the full set is available on accounts opened on MT4 and MT5. FxPro sets high safety standards with the client's funds being kept in large international banks. They are insured and separated from the broker's equity.
👍 Advantages of trading with FxPro for traders from Malaysia:
•Negative Balance Protection of a client on a real account is a unique broker service. It has an automated transaction monitoring and a risk management system, the capital is guaranteed not to go into a negative balance;
•insurance of client funds at the expense of the broker participation in an investor compensation fund;
•beginner traders will be able to access tested advisors;
•a full package of services is available to the client regardless of the balance of his account;
•VIP account holders are offered a personal manager and get a Free VPS;
•company capital exceeds 100 million euros;
•offers swap-free accounts for customers whose religious beliefs do not permit swapping eg. Islamic traders;
•the reliable trading environment provided by the competent educational and research department.
👎 Disadvantages of FxPro for traders from Malaysia:
•it is not the best choice for beginner traders who are looking for their first broker as the minimum deposit of $100 is considered high;
•difficulties registering in an affiliate program.
FxPro Commissions & Fees for traders from Malaysia
FxPro charges trading fees. The fees are charged as the spread. In the fees review for traders from Malaysia, you can learn about their rates depending on the account type.
FxPro Commissions and Fees in Malaysia
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
FxPro MT4 Instant |
From $10 |
0 |
FxPro MT4 Fixed |
From $5 |
0 |
FxPro MT5 |
From $5 |
0 |
FxPro cTrader |
From $3 |
0 |
FxPro Platform |
From $1 |
0 |
5
Best Forex broker for beginners in Malaysia - AMarkets
AMarkets is an international company with dozens of offices in Europe and the CIS. It was established in 2007, but its structure has gone through major changes since then. Initially, the company was called AForex. Over time, the brand became a symbol of reliability and European quality service standards. Today, AMarkets is a modern ECN broker, actively developing both “trading for beginners” and professional algorithmic trading.
👍 Advantages of trading with AMarkets for traders from Malaysia:
•Order execution speed is 35–50 ms (average market indicator is 200–500 ms);
•Average market spreads from 0.3 pips (average market indicator is from 0.5 pips);
•Newest passive investment platform – AMarkets Copy Trading;
•A set of analytical tools, including signals, risk management tools, and algorithmic trading, is integrated into the user account;
•Compensation fund of up to EUR 20,000 per each client.
👎 Disadvantages of AMarkets for traders from Malaysia:
•Expert advisors with basic settings are unprofitable. Launching templates without preliminary testing is strongly not advised.
•There is no information about how the rating of managers is formed and how much can the provided statistics be trusted;
•Absence of a regulatory license. The broker is registered in Saint Vincent and the Grenadines, but there is no information about the license from a regulator. The Financial Commission does not issue licenses.
AMarkets Commissions & Fees for traders from Malaysia
AMarkets charges trading fees. The fees are charged as the spread. In the fees review for traders from Malaysia, you can learn about their rates depending on the account type.
AMarkets Commissions and Fees in Malaysia
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
Standard |
from 13$ |
Yes |
Fixed |
from 30$ |
Yes |
ECN |
from 0$ |
Yes |
Crypto |
from 13$ |
Yes |
Fees and Commissions
When choosing a broker, it is very important to evaluated the structure of its fees. The fees are the main source of income for brokerage companies.
The brokers usually charge two finds of fees: spread and lot fee.
Spread is more popular than the lot fee. However, the type of fee depends on the trading account. Make sure you review the conditions.
The lowest spreads are always found on ECN accounts. Availability of such account types is an important advantage for any broker.
The type of fees can depend on your trading strategy, but a detailed calculation needs to be performed anyway.
The fees charged by brokers often vary depending on the trading account type and also the instruments a trader works with. The higher the popularity and liquidity of certain instruments, the narrower the spreads or the lower the fees per lot.
How to Trade Forex for Beginners in Malaysia?
Forex trading in Malaysia is an attractive opportunity for many, especially with the growing interest in global currencies. For beginners, the journey into forex trading can be both exhilarating and challenging. Understanding the market, choosing the right broker, and having a solid strategy is essential. Here's a step-by-step algorithm to help you start:
Step 1: Educate Yourself: Gain in-depth knowledge about forex trading, including currency pairs, market trends, and trading techniques. Utilize educational resources such as books, online courses, and webinars.
Step 2: Choose a Regulated Broker: Select a reputable broker regulated by Malaysian authorities to ensure transparency and legal compliance.
Step 3: Open a Trading Account: Carefully open a trading account with your chosen broker, providing all required identification and financial documents.
Step 4: Explore the Trading Platform: Dedicate time to understanding the trading platform, using demo accounts to practice without risk.
Step 5: Analyze the Market: Employ technical and fundamental analysis to gauge market trends and potential influences on currency values.
Step 6: Develop a Trading Plan: Craft a clear and consistent trading plan that aligns with your risk tolerance, investment goals, and chosen strategies.
Step 7: Start Trading: Begin with smaller trades, gradually expanding as you gain confidence and experience.
Step 8: Monitor and Review: Constantly review your trades, learning from successes and mistakes, to continuously refine your approach.
Can You Trade Forex Without a Deposit In Malaysia?
Yes, trading forex without a deposit is possible in Malaysia through the use of free demo accounts offered by most brokers. These demo accounts are a valuable tool for newcomers and seasoned traders alike, allowing them to practice trading without risking real money. You see, demo accounts mimic the real forex market but use virtual currency, so you won't generate real profits or incur actual losses.
The main purpose of a demo account is to provide hands-on experience and understanding of trading platforms, strategies, and market behaviour. It enables traders to experiment with different approaches, learn from mistakes, and gain confidence before transitioning to a live account. While demo accounts won't provide the thrill of real profits, they serve as an essential learning platform and risk-free starting point for those new to forex trading in Malaysia. It's a recommended step for building foundational skills before committing actual capital to trade.
Can I Teach Myself Forex Trading In Malaysia?
Yes, you can teach yourself forex trading in Malaysia, just like in any other part of the world. Many individuals choose to learn forex trading independently through self-study, leveraging various online resources, books, and tutorials. Get this, the vast array of information available online makes self-teaching a viable option, even for beginners.
Here's the thing, the path to teaching yourself forex trading involves understanding the fundamental principles, studying market trends, practising with demo accounts, and constantly updating your knowledge. You'll also find many online platforms offering free and paid courses, webinars, and forums where you can interact with experienced traders.
Take advantage of demo accounts: Practice with demo accounts to gain hands-on experience without risking real money. This stage helps you understand the trading platform, tools, and strategies.
Invest in education: There are numerous online resources, including e-books, video tutorials, and webinars, that offer in-depth insights into forex trading. Continuously learning is essential.
Join online communities: Engage with online trading communities, forums, or social media groups. Interacting with other traders can provide real-time insights, advice, and support.
Is Forex Trading Profitable In Malaysia?
Forex trading has the potential to be profitable in Malaysia, just as it does in other parts of the world. But the thing is, whether forex trading turns out to be profitable for you depends on several critical factors. Let's break them down:
Knowledge: Having a strong foundation of forex trading concepts, currency pairs, and market mechanisms is vital. Without proper understanding, making profitable decisions becomes challenging. Constantly upgrading your knowledge through books, courses, and tutorials helps in making informed trading decisions.
Skills: Effective trading requires skills such as analytical thinking, quick decision-making, and patience. Building these skills takes time and practice but significantly contributes to potential profitability.
Trading strategy: A well-defined and tested trading strategy guides your trading decisions. Different strategies cater to various market conditions, and choosing the right one is crucial for success. Stick to your strategy, especially when the market seems uncertain.
Risk management practices: Managing risk is as essential as recognizing opportunities. Implementing risk management techniques, such as setting stop-loss and take-profit orders, protects your capital from significant losses. It ensures that you can trade another day, even after a bad run.
Market conditions: The forex market is dynamic, influenced by global economic events, interest rates, and political stability. Monitoring and understanding these conditions help you make timely decisions that align with market trends.
Summary
Choosing the right broker is not a simple task for new traders in Malaysia, as they have to take into account many nuances. Each of those could considerably impact your trading successes or your profit. Trading instruments that the broker offers traders from Malaysia, trading conditions and the quality of educational materials need to be evaluated. Availability of a demo account or a cent account you can use to practice is an important advantage. Keep in mind that before opening a position, you need to assess its risk level.
Top Forex brokers for beginners in 2024 for traders from Malaysia
| RoboForex | Exness | FBS | FxPro | AMarkets | |
|---|---|---|---|---|---|
Overall score |
8.61 |
7.58 |
8.28 |
8.5 |
7.1 |
Execution of orders |
8.95 |
9.6 |
9.5 |
8.25 |
8.4 |
Investment instruments |
8.2 |
8.79 |
6.96 |
8.9 |
5.75 |
Withdrawal speed |
9.71 |
8.79 |
9.57 |
6.5 |
6.57 |
Customer Support work |
9.17 |
9.29 |
7.58 |
8.9 |
8.07 |
Variety of instruments |
8.75 |
8.02 |
7.02 |
9.27 |
7.37 |
Trading platform |
6.86 |
1 |
9.03 |
9.2 |
6.44 |
FAQ
Which Stock Broker Is Best for Short Selling?
RoboForex and Exness RoboForex and Exness are popular choices among traders for short selling, offering favourable conditions and robust platforms for executing short trades. They are known for their reliability, tools, and customer support, which makes short selling more accessible.
Can You Short Sell CFDs?
Yes, you can short-sell CFDs, and it's one of the appealing features of trading Contracts for Difference. Short-selling CFDs allow you to profit from falling prices by selling an asset you don't own, and buying it back later at a lower price.
How Profitable Is Short Selling?
Short selling can be profitable if executed wisely, but it also comes with significant risks. If the price of the asset rises instead of falls, the potential losses can be substantial, so a strong understanding of market conditions and risk management is essential.
Do All Brokers Allow Short Selling?
Not all brokers allow short selling, as it requires specific systems and risk management protocols. It's vital to check with individual brokers and understand their policies on short selling before opening an account, as regulations and offerings can vary widely.
What amount does a novice trader need in order to start trading?
It depends on the account type. For a cent account, USD 50 is enough. For trading on a real account, it is better to deposit at least $300-500.
How do I choose a reliable broker Malaysia?
According to the requirements of country Malaysia, a broker must disclose all information, including the name, registration data, legal address, etc. License for financial activity is the key document.
Should I accept the bonuses for beginners?
Bonuses for beginners can make trading more profitable, but before accepting a bonus, make sure you read the conditions for receiving bonuses by traders from Malaysia.
Can a beginner earn passive income in the Forex market while he is learning?
Yes. For example, you can use PAMM accounts or copy trading platforms. Make sure that these kinds of investment opportunities are available for traders from Malaysia.
Best Forex Brokers for Beginners by Countries
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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.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!
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.
Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.
Olga’s motto: Do well and you’ll be well!