In order to trade successfully, it is very important to choose the right broker. in Malaysia, a large number of companies provide access to trading and you will have to choose the one for you among them. It is important to work only with reliable brokers providing all the required instruments for trading based on your trading strategy. TU analysts have selected the best forex brokers for swap-free trading in Malaysia 2024. You can compare their features and trading conditions.
1
RoboForex - Best for swap-free trading in Malaysia
RoboForex is a well-established brokerage company offering a broad spectrum of trading opportunities for active traders and investors alike. With an impressive selection of over 12,000 financial instruments - including currency pairs, CFDs on stocks, indices, metals, energies, and futures - RoboForex provides a versatile trading environment.
The broker boasts competitive trading conditions: tight spreads starting from 0 pips, high leverage up to 1:2000, and fast execution speeds. The broker also offers the CopyFx investment program, which allows traders to copy the strategies of successful investors and earn passive income. Additional perks include instant fund withdrawals and some of the industry’s highest affiliate payments (up to 84%).
RoboForex prioritizes reliability and client satisfaction, establishing itself as a trusted partner for traders worldwide.
👍 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
2
Exness - Best for swap-free trading in Malaysia
Exness is one of the world’s largest brokers, known for its competitive trading conditions, high security, and wide selection of assets. The company serves over 700,000 active clients and processes a monthly volume exceeding $4 trillion.
While specializing in currency pairs, Exness also offers CFDs on stocks, commodities, indices, and cryptocurrencies. The broker caters to all experience levels with various account types – from cent accounts and social trading for beginners to high leverage and Expert Advisor support for seasoned professionals.
Exness holds multiple international licenses, including the stringent FCA and CySEC, ensuring trader funds are protected.
With features like 24/7 support, fast withdrawals, and analytics tools, Exness strives to provide an optimal trading experience.
👍 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.
3
Vantage Markets - Best for swap-free trading in Malaysia
Vantage Markets is a multi-asset broker offering a vast array of 1,000+ trading instruments, including currency pairs, CFDs on stocks, indices, commodities, energy, and ETFs. Holding licenses from reputable regulators like the FCA and ASIC, Vantage Markets ensures a level of security and trust for its clients.
The broker provides a choice between spread-based and commission-based account types, with leverage up to 1:500 on Forex pairs. Its PRO ECN option particularly stands out with commission starting from $1.5 per lot, making it attractive for high-volume traders.
Alongside the popular MetaTrader 4/5 platforms, the broker offers proprietary trading platform ProTrader and a convenient Vantage App. Additionally, Vantage Markets integrates with TradingView, enabling direct trading from the popular charting platform.
👍 Advantages of trading with Vantage Markets for traders from Malaysia:
•A vast array of trading instruments like 1000+ currency pairs and contracts for difference (CFDs).
•The broker has licenses from four reputable regulators.
•Classic trading terminals and a proprietary mobile application.
•An extensive array of trading signals to choose from for traders, regardless of the type of trading account.
👎 Disadvantages of Vantage Markets for traders from Malaysia:
•Customers from most countries are forced to cooperate with a branch that has an offshore license.
•Limited training and a lack of information on Forex trading.
•Snail-paced withdrawal of funds with the requirement to comply with special conditions.
4
InstaForex - Best for swap-free trading in Malaysia
InstaForex is a leading broker with over 7,000,000 clients. The company provides access to 2,500+ trading instruments, including Forex pairs, stocks, indices, commodities, and cryptocurrencies. Clients can benefit from competitive spreads starting from 0 pips, leverage up to 1:1000, and access to non-standard technological solutions like synthetic securities. The average execution speed is 0.1 sec.
The broker offers a wide range of cryptocurrency CFDs, with over 70 instruments available and zero spreads on major cryptocurrencies. Additionally, it supports passive investment options including PAMM accounts, copy trading services, and unique offering - OYS portfolios.
The company provides responsive client support and insurance coverage up to €20,000 under European regulation.
👍 Advantages of trading with InstaForex for traders from Malaysia:
•2,500+ trading instruments, including non-standard assets, such as InstaFutures and synthetic securities.
•Passive investment products, including PAMM accounts and a copy trading service.
•Non-standard technological solutions such as InstaSpot (P2P spot trading), OYS account, Stock Basket, etc.
•European regulation and IFC compensation fund with guaranteed insurance coverage up to €20,000.
•Comfortable trading conditions, such as a $1 minimum deposit and leverage up to 1:1000, for clients of the FSC-regulated broker.
👎 Disadvantages of InstaForex for traders from Malaysia:
•Tough conditions for retail European traders due to regulations.
•The time gap between a trade executed by a trader and the one copied to the investor’s account in the social trading service can be up to 15 seconds.
5
Tickmill - Best for swap-free trading in Malaysia
Tickmill is a reputable broker offering access to trading Forex, stock indices, commodities, bonds, and cryptocurrencies. Furthermore, the broker boasts an extensive selection of over 500 stock CFDs.
There are two main account types: Classic Account with spreads from 1.6 pips and no commission, and Raw Account with spreads from 0 pips and a $3 commission per lot. Both accounts require a minimum deposit of $100 and a maximum leverage of 1:1000.
The broker also provides a variety of useful tools, such as Autochartist, Acuity Trading, Signal Centre, and Capitalise.ai, which utilize AI to offer valuable market insights and trading signals.
Tickmill's regulation by the FCA and CySEC ensures the safety and security of client funds.
👍 Advantages of trading with Tickmill for traders from Malaysia:
•spreads from 0 pips;
•any strategy is allowed;
•protection against negative balance;
•mobile app trading platform.
👎 Disadvantages of Tickmill for traders from Malaysia:
•the customer support works only 5 days a week from 7:00 to 16:00 GMT;
•relatively small choice of currency pairs;
•there is no cent account;
•there is no trust management;
TOP 5 Comparison
This table makes it easy to compare the best forex brokers for swap-free trading in Malaysia for 2024 by placing their information side by side all in one place. The table includes the categories that are most important when deciding on a broker to work with. The data contained in this table is verified and only includes the most reputable brokers.
| RoboForex | Exness | Vantage Markets | InstaForex | Tickmill | |
|---|---|---|---|---|---|
|
Trading platform |
MT4, MT5, R MobileTrader, R StocksTrader, R WebTrader |
Exness Trade App (mobile), Exness Terminal (web), MetaTrader5, MetaTrader4 |
MT4, MT5, WebTrader, Mobile Apps |
MT4, MultiTerminal, Mobile Trading, MT5, WebTrader |
MT4, MT5, Tickmill Mobile App |
|
Min deposit |
$10 |
$10 |
$50 |
$1 |
$100 |
|
Leverage |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
From 1:1 |
|
Trust management |
No |
No |
No |
Yes |
Yes |
|
Accrual of % on the balance |
No |
No |
No |
No |
No |
|
Spread |
From 0 points |
From 1 point |
From 0 points |
From 0 points |
From 0 points |
|
Level of margin call / stop out |
No |
No |
No |
No |
No |
|
Execution of orders |
Market Execution, Instant Execution |
Market Execution, Instant Execution |
Market Execution |
Instant Execution |
Market Execution |
|
No deposit bonus |
No |
No |
No |
No |
$30 |
|
Cent accounts |
Yes |
No |
No |
Yes |
No |
Commissions & Fees
Brokerage fees are the amount of money that you pay for using the services that a brokerage offers in order to perform trading and manage investments. The brokerage fee structure and regulations vary from broker to broker, and there are two primary fee types which are:
Trading Fees: This type of fee is only charged when you perform a trade. It can be a conversion fee, margin rate, financing rate, spread, or commission.
Non-Trading Fees: This type of fee isn't directly related to your trading activity, and it can include inactivity fee, withdrawal fee, deposit fee, etcetera.
RoboForex Commissions and Fees
Our experts have checked this company for trading and non-trading commissions. In the trading commission category, the broker's spread was considered, and as a non-trading commission, it charges an additional fee for withdrawing funds.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Pro |
$13 |
No |
|
Pro-Cent |
$13 |
No |
|
ECN |
$3 |
No |
|
Prime |
$1 |
No |
Exness Commissions and Fees
Exness charges only trading fees. These are spreads on Standard and Pro accounts and spreads + fees per lot on Raw Spread and Zero accounts. The company doesn’t withhold non-trading fees.
| 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 |
Vantage Markets Commissions and Fees
Experts at the Traders Union analyzed the trading and non-trading fees of the Vantage Markets broker. A spread is used for a standard STP account. The minimum size is 1.4 pips. For ECN accounts, spreads are not used, instead, a flat fee is applied. Its size is:
-
RAW ECN — 3 USD per lot;
-
Pro ECN — 1.5 USD per lot.
The broker also has swaps — a fee for transferring positions to the next day, which is charged at 00:00 GMT. There are no fees for depositing or withdrawing funds from the Vantage Markets broker.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Standard STP |
From $0 |
No |
|
RAW ECN |
From $3 |
No |
|
Pro ECN |
From $1.5 |
No |
|
Swap Free |
From $0 |
No |
InstaForex Commissions and Fees
Traders Union specialists have analyzed InstaForex trading conditions for explicit and hidden commissions. All information on the size of commissions contained is on the broker's website. Trading account replenishment through the popular payment system takes place without commission. The commission is charged only by the bank or e-payment system. Information on the amount of commission fees is available on their website. Withdrawal fees range from 0.5% to 3.5%, depending on the electronic payment system. PayCo does not charge a withdrawal fee.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Insta.Standard (FSC) |
From 3-7 USD |
yes |
|
Insta.Eurica (FSC) |
From 0 USD |
yes |
|
Cent.Standard (FSC) |
From 3-7 USD |
yes |
|
Cent.Eurica (FSC) |
From 0 USD |
yes |
|
ECN.MT4 (CySEC) |
From 10 USD |
Yes |
|
ECN VIP.MT4 (CySEC) |
From 3 USD |
No |
|
ECN Pro.MT4 (CySEC) |
From 7 USD |
Yes |
|
All ECN-accounts MT5 (CySEC) |
From 0 USD |
No |
Tickmill Commissions and Fees
Tickmill has been checked by our experts for commissions. The experts considered the broker's spread as a trading commission, and additional fees for withdrawing funds from a trading account were considered in a non-trading commission category.
| Account type | Spread (minimum value) | Withdrawal commision |
|---|---|---|
|
Raw |
From $0 |
No |
|
Classic |
From 1.6 pips |
No |
What is a Swap-Free Account?
A swap-free account is a special type of forex trading account that doesn't incur any swap or rollover charges on overnight positions. Normally, a swap is the amount of money you either receive or pay for holding a position overnight, and it's based on the central banks' interest rates of the countries whose currencies you trade.
Swap charges can be positive or negative and are considered a form of interest. Get this, a swap-free account completely eliminates these interest charges, making it particularly appealing to traders who wish to avoid interest for various reasons, such as religious beliefs or specific investment strategies. It's also commonly referred to as an "Islamic account."
Is Swap-Free Trading Haram?
Swap-free trading, especially in the context of Islamic finance, is a subject of ongoing debate. Islamic jurisprudence places great importance on ethical considerations, and opinions on whether swap-free trading is halal (permissible) or haram (forbidden) differ.
Halal Perspective:
-
Avoiding Riba: Swap-free trading eliminates the element of interest, or riba, from forex trading. Interest is strictly prohibited in Islam, so by removing this aspect, swap-free accounts comply with Shariah law, making them halal.
Haram Perspective:
-
Trading Speculation: Some scholars argue that the speculative nature of forex trading itself is akin to gambling, making it haram. The high risks and uncertainties involved can be seen as conflicting with Islamic principles of risk-sharing and ethical investing.
-
Imitation of Conventional Practices: Though swap-free accounts eliminate interest, they may still be considered haram if they imitate or simply modify conventional trading practices that are not aligned with Islamic principles.
-
Unclear Source of Income: The transparency of income in trading can be another point of contention. If the source of profit is unclear or dubious, it might be considered haram, as income in Islam must come from lawful means.
The decision to engage in swap-free trading may require careful consideration of various factors, including individual beliefs and the guidance of knowledgeable Islamic scholars or financial experts.
How are Islamic Forex Accounts in Malaysia Opened?
Opening an Islamic Forex Account in Malaysia can be a straightforward process. Here, we'll take RoboForex as an example to guide you through the steps. These accounts are designed to comply with Islamic financial principles, and beginners can easily follow the following procedure:
Step 1: Register a Members Area on the RoboForex website. This will be your personal dashboard where you'll manage all your trading activities.
Opening a RoboForex account
Step 2: Navigate to the "Live Account" page located in the first section of your Members Area. Here you'll find options to create and manage live trading accounts.
Step 3: Choose suitable parameters for your new account. This might include selecting the currency, leverage, and other trading conditions that fit your strategy and risk tolerance.
Opening a RoboForex account
Step 4: Select the type of account you wish to open, and then click "Confirm." Make sure to read any terms and conditions associated with the account.
Step 5: Open a MetaTrader 4-based account in your Members Area. MetaTrader 4 is a popular trading platform that offers various tools and features to facilitate trading.
Step 6: Finally, contact RoboForex Live Support to enable the "Swap-Free" service on your account. The support team will assist you in activating this feature, ensuring that your account complies with Shariah law by eliminating swap or interest charges.
Summary
Many brokers are available for traders from Malaysia, but not all of them offer good conditions. In this review, TU experts chose the Best forex brokers for swap-free trading in Malaysia 2024. These are the most trusted companies that offer the best conditions for traders. You will also be able to review the general assessment of each broker.
Overall score of the best Forex Brokers For Swap-Free Trading in Malaysia
| RoboForex | Exness | Vantage Markets | InstaForex | Tickmill | |
|---|---|---|---|---|---|
|
Overall score |
9.71 |
9.34 |
8.8 |
8.22 |
8.37 |
|
Execution of orders |
8.95 |
9.6 |
8.2 |
8.85 |
9.1 |
|
Investment instruments |
8.2 |
8.79 |
9.19 |
7.1 |
8.92 |
|
Withdrawal speed |
9.71 |
8.79 |
8.2 |
6.9 |
8.48 |
|
Customer Support work |
9.17 |
9.29 |
6.64 |
7 |
6.51 |
|
Variety of instruments |
8.75 |
8.02 |
7.37 |
8.02 |
8.02 |
|
Trading platform |
6.86 |
1 |
4.31 |
9.1 |
7.21 |
|
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FAQ
Which Forex broker has no swap fee?
(Exness) Exness is one of the brokers that offer swap-free accounts. These accounts are designed to cater to traders who wish to avoid swap or rollover charges on overnight positions.
Is swap-free good?
Swap-free accounts can benefit those who want to trade without incurring interest charges. This makes them particularly appealing to Muslim traders adhering to Shariah law and also to long-term investors who may want to avoid additional overnight fees.
How do I avoid swap fees in forex?
To avoid swap fees in forex, traders can opt for a swap-free or Islamic account. Many brokers offer this option, and it allows traders to hold positions overnight without any associated swap charges. It can be particularly useful for those following certain ethical or religious principles.
Why do brokers charge swap fees?
Brokers charge swap fees as a part of the cost of holding a position overnight. These fees are based on the interest rate differences between the two traded currencies. Swap fees can be positive or negative, depending on the direction of the trade and the interest rate differential. Get this, it's a standard practice in forex trading, reflecting the cost of borrowing one currency to buy another.
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.
Is it possible to work with offshore brokers?
It is best not to work with offshore brokers. However, if you have chosen such a company, you need to check and analyze it very thoroughly. There are offshore brokers with good reputations. Before you start working with such a company, deposit the minimum amount and start trading. Once you’ve worked with the broker for a little while and checked how it operates and how quickly it processes withdrawals, you can start depositing higher amounts.
Can you earn passive income in the financial markets?
Yes, the best brokers in Malaysia offer passive income options. These could include copy trading, PAMM accounts, managed portfolios, etc.
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.
Best Forex Brokers For Swap-Free Trading 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.
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.