Best MT5 Brokers In Malaysia For 2025

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Go to broker’s website Plus500 Overview

If you're too busy to read the entire article and want a quick answer, the best MT5 Forex broker in Malaysia is Plus500. Why? Here are its key advantages:

Is legit in your country (Identified as United States )
Has a good user satisfaction score 6.83 out of 10
Local deposit/withdrawal methods and customer support
Competitive spreads and commissions

Go to broker’s website Plus500 Overview

Below, we'll explain in more detail why we believe this and how brokers were evaluated.

According to the Traders Union, best MT5 Forex Brokers in Malaysia are:

Plus500 - Best premium client support (personal manager, exclusive analysis, webinars)
Pepperstone - Best for scalping strategies (spread from 0 pips)
OANDA - Best for trading with advanced technical analysis tools (TradingView charts support)
FOREX.com - Diverse range of tradable assets (80+ currency pairs)
Interactive Brokers - Best broker for international investors (assets from 33 countries, 150+ markets)

The Forex market in Malaysia is booming, attracting new and experienced traders alike. This growth is thanks to more accessible online trading platforms and a rising interest in Forex trading. The MT5 platform is great for everyone, offering lots of technical indicators and tools for analysis. Traders can use up to 38 built-in indicators and 44 graphical objects, allowing for detailed market analysis. The platform supports multiple trading instruments and Expert Advisors (EAs), multiple order types and user-friendly interface. This article aims to guide traders in choosing the best MT5 brokers in Malaysia for 2024.

Rates and comparison of the best MT5 Forex brokers in Malaysia

We've compiled a list of the top MT5 Forex Brokers in Malaysia, recognized for their reliability, competitive pricing, and adherence to strict regulations. These brokers are suitable for traders of all experience levels. Next, we'll outline the criteria we used to recommend these brokers, so you can understand why they stand out.

Best MT5 Forex Brokers in Malaysia
	Pepperstone	OANDA	FOREX.com	Qtrade-de	iBroker
Allowed in Malaysia
Min. deposit, $			100	1000	1
Swap Free
MT4
MT5
cTrader
WebTrader
Android
iOS
Open account	Open an account Your capital is at risk.	Open an account Your capital is at risk.	Study review	Study review	Study review

Choosing the best MT5 broker in Malaysia involves evaluating various factors such as regulation, trading costs, platform features and customer support.

A fundamental parameter when choosing a broker in Malaysia is its regulation. A broker that is supervised by a national or reputable global regulator is able to ensure the safety of funds and compliance with local and international laws.

Comparing trading fees, including spreads and commissions, helps identify cost-effective trading and passive investment options. It is worth noting that preference should be given to brokers with reliable trading platforms, such as MT5, and customer support with fast response to client requests.

Regulation. The first and main criterion is regulation. A broker that is regulated by a reputable body such as the SECP, FCA or CySEC ensures the safety of funds and adherence to strict financial standards.
Trading costs. Please pay attention to spreads, commissions and any additional fees. Lower spreads benefit high-frequency traders, and lower commissions can help long-term investors.
Platform capabilities. MT5 offers advanced charting tools, automated trading capabilities and access to a wide range of financial instruments. Choose a broker that takes full advantage of these features.
Customer support. Effective customer support can be critical, especially during technical difficulties or urgent issues. Check availability 24/5 and multiple communication channels.

How is the Forex market regulated in Malaysia?

Official website Securities Commission Malaysia

The Forex market in Malaysia is regulated by the Securities Commission Malaysia, SC. The SC oversees financial markets, ensuring transparency, protecting investors, and promoting fair trading practices. Brokers operating in Malaysia must comply with SC regulations, which include maintaining adequate capital reserves, providing transparent pricing, and adhering to anti-money laundering protocols.

The Securities Commission Malaysia (SC) has recently introduced a number of important changes and conducted several significant regulatory cases. In particular:

On 14 June 2024, the SC issued guidelines aimed at establishing a regulatory framework for over-the-counter contracts for difference (CFDs). These changes are intended to improve transparency and regulation of CFD trading in the Malaysian market.
The SC also updated guidance relating to anti-money laundering, anti-terrorism financing and targeted financial sanctions for capital market reporting entities.
From 6 February 2024, the FSA program was introduced for new capital market participants and operators of established markets. This program aims to speed up the evaluation process and reduce time to market from six months to three.
Accelerated Transfer Process from ACE to the Main Market: SC has introduced an expedited process for transfer of companies listed on the ACE Market to the Main Market of Bursa Malaysia. This change is aimed at increasing stock market activity and reducing market frictions.

The Malaysian Securities Commission (SC) recently introduced the following restrictions against less than honest market participants:

Case against Dato’ Lee Kok Chuan. On 1 March 2024, SC entered into a settlement agreement with Dato’ Lee Kok Chuan in the amount of RM278,395 for allegedly passing on insider information regarding the pending acquisition of shares in Berjaya Starbucks Coffee Company. The amount was equivalent to two times the difference between the price at which the shares were purchased with insider information and their market price.
Case against Chew Chong Eu. On 28 February 2024, SC reached a settlement with Chew Chong Eu for the same amount and on a similar charge of insider trading in Berjaya Food Berhad shares.
Case against Loh Yu San and Loh Chin Seong. On 26 January 2024, SC entered into a settlement agreement in the amount of RM11,091,125.70 in the case of insider trading in shares of Iskandar Waterfront City Berhad. The defendants sold the shares with insider information about the impending termination of the deal with TRX City Sdn Bhd.

How are Forex gains taxed in Malaysia?

Forex profits in Malaysia are taxed as personal income. Traders are required to report their profits to the Malaysian Revenue Department (Lembaga Hasil Dalam Negeri Malaysia, LHDN). In Malaysia, tax rates on personal income are progressive and range from 0% to 30% depending on the amount of income. Forex traders are required to declare their income and file tax returns annually with the LHDN. To submit reports, you must provide all data on profits received and taxes paid for the reporting period.

Here are the main tax rates for 2024:

Up to 5,000 MYR: 0%
5,001 - 20,000 MYR: 1%
20,001 - 35,000 MYR: 3%
35,001 - 50,000 MYR: 6%
50,001 - 70,000 MYR: 11%
70,001 - 100,000 MYR: 19%
100,001 - 400,000 MYR: 25%
400,001 - 600,000 MYR: 26%
600,001 - 2,000,000 MYR: 28%
Over 2,000,000 MYR: 30%

Traders are required to report their profits and file tax returns with the LHDN. A tax return must be filed annually and all income must be accounted for, including profits from Forex trading. Additionally, taxpayers can claim tax credits and deductions, which can reduce their taxable income and, accordingly, their tax burden.

Islamic trading in Malaysia: Adherence to Sharia laws

Islamic trading in Malaysia is strictly regulated to ensure compliance with Islamic financial principles. The SC plays a key role in regulating the Islamic financial market by setting rules and regulations for Islamic products and services. One of the most important documents is the Islamic Capital Market Guidelines, which combines all Shariah requirements into one document, making it easier to comply with Islamic norms.

Malaysian Islamic financial institutions are required to comply with Shariah principles, which prohibit interest rates (riba), speculation (maysir) and uncertainty (gharar). For this purpose, special structures are created, such as Shariah councils, which ensure that all financial products and services comply with Islamic norms. These councils advise companies and check all financial transactions for compliance with Shariah.

In addition, Malaysia actively promotes the development of the Islamic finance industry, supporting innovation and sustainable development. This includes the introduction of new products and services such as sukuk (Islamic bonds) and Islamic investment funds. As a result, Malaysia has become one of the world's leading Islamic finance centers, attracting international investment and strengthening its position in the global financial market.

Focusing on MT5 brokers regulated by SECP or other reputable regulators

As an active Forex trader, I have tested many brokers and have learned what makes an exceptional broker. When choosing such a broker, it is critical to consider regulatory compliance, trading costs, platform reliability, and customer support. I suggest focusing on MT5 brokers regulated by SECP or other reputable global regulators.

Additionally, look for brokers that offer comprehensive educational resources, competitive trading conditions, reliable customer support, and convenient payment options.

Different account types tailored to different trading strategies are also useful. Choose brokers with detailed market analysis tools to improve your understanding of the market and make better trading decisions.

Methodology for compiling our ratings of Forex brokers

Traders Union applies a rigorous methodology to evaluate brokers using over 100 quantitative and qualitative criteria. Multiple parameters are given individual scores that feed into an overall rating.

Key aspects of the assessment include:

Regulation and safety. Brokers are evaluated based on the level/reputation of licenses and regulations they operate under.
User reviews. Client reviews and feedback are analyzed to determine customer satisfaction levels. Reviews are fact-checked and verified.
Trading instruments. Brokers are evaluated on the range of assets offered, as well as the breadth and depth of available markets.
Fees and commissions. All trading fees and commissions are analyzed comprehensively to determine overall costs for clients.
Trading platforms. Brokers are assessed based on the variety, quality, and features of platforms offered to clients.
Other factors like brand popularity, client support, and educational resources are also evaluated.

Find out more about the unique broker assessment methodology developed by Traders Union specialists.

Conclusion

In conclusion, selecting the best MT5 brokers in Malaysia for 2024 requires careful consideration of various factors, including regulation, trading costs, and platform features. By adhering to these guidelines, traders can ensure a safe and efficient trading experience. We encourage traders to remain mindful and diligent, continually educating themselves to make informed trading decisions.

FAQs

Is Forex legal in Malaysia?

Yes, Forex trading is legal in Malaysia under the supervision of the Securities Commission Malaysia, (SC) and subject to specific regulations and guidelines.

Is Forex trading halal in Malaysia?

Yes, Forex trading can be halal if conducted through Islamic (swap-free) accounts, which comply with Sharia law by not charging interest on overnight positions.

Is MetaTrader 5 safe to use?

Yes, MetaTrader 5 is generally safe to use, provided you download it from reputable sources and use it with a broker that follows industry standards for security and regulation.

Who is the best broker in Malaysia?

Determining the best broker in Malaysia depends on factors like regulatory compliance, trading costs, platform reliability, customer support, and available services that align with your trading goals and preferences.

Team that worked on the article

Parshwa is a content expert and finance professional possessing deep knowledge of stock and options trading, technical and fundamental analysis, and equity research. As a Chartered Accountant Finalist, Parshwa also has expertise in Forex, crypto trading, and personal taxation. His experience is showcased by a prolific body of over 100 articles on Forex, crypto, equity, and personal finance, alongside personalized advisory roles in tax consultation.

Learn about our editorial policies

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).

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