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Best Online Trading App in Malaysia for 2025

Updated: February 08, 2025

Mikhail Vnuchkov

Contributor

Reviewed by

Olga Shendetskaya

Editor

Fact-checked by

Mirjan Hipolito

Cryptocurrency and stock expert

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1
Best Online Apps in Malaysia - RoboForex

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 in 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 in Malaysia:

•A small number of currency pairs - 28, for accounts: Pro, Pro-Cent, ECN

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2
Best Online Apps in Malaysia - eToro

The eToro broker was founded in 2007. The company promotes itself as a social trading platform working with traders from over 140 countries. The broker has several divisions operating under different jurisdictions and licensed by different regulators. For example, eToro (Europe) is licensed by the Cypriot regulator CySEC (109/10) and eToro (UK) is licensed by the British regulator FCA (583263). The broker also has a representative office in Australia and the USA.

👍 Advantages of trading with eToro for traders in Malaysia:

•High level of reliability ensured by the licenses of respected regulatory authorities and participation in the compensation funds.

•Wide selection of assets quoted at stock exchanges in the UK, U.S., Australia and Asia.

•An opportunity to combine active trading with social trading and passive investing.

•Zero-fee trading of a number of stocks.

•Access to ready-made diversified asset portfolios with various risk levels.

•Provision of leverage, educational materials on various markets and user-friendly trading platforms that can run on any device.

•Zero fees for portfolio management, depositing funds and account maintenance.

👎 Disadvantages of eToro for traders in Malaysia:

•High minimum deposit for users of a number of countries.

•No live chat on the website for quick connection to customer support.

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3
Best Online Apps in Malaysia - Webull

Webull is an American broker-dealer headquartered in New York City and is a FINRA (CRD#: 289063/SEC#: 8-69978), SIPC, NYSE, and NASDAQ member. The company was incorporated in May 2017, and in January 2018 it was already registered with the SEC and CFTC. It is part of Webull Financial LLC and is licensed to carry out brokerage activities in all 50 US states. The broker offers a wide range of stock market assets, futures, professional analytics and an intuitive trading platform with a variety of technical and fundamental analysis tools.

👍 Advantages of trading with Webull for traders in Malaysia:

•Zero commission when trading stocks, options, and ETFs.

•No minimum deposit requirements for brokerage and retirement (IRA) accounts.

•Access to professional intelligent analytics and trading tools.

👎 Disadvantages of Webull for traders in Malaysia:

•There is no support for trading in mutual funds, futures, bonds or stocks of the OTC markets.

•It doesn’t provide an opportunity to make transactions with currency pairs.

•Cryptocurrency trading is available only in mobile applications.

•Replenish your account from $2,000 to trade with favorable leverage.

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4
Best Online Apps in Malaysia - Phillip Capital

Phillip Capital is a broker of PhillipCapital Inc Group, founded in Singapore in 1975. The PhillipCapital subsidiary was established in 2010. Its main office is located in the United States in the Chicago Chamber of Commerce building. Since July 2014, the broker has been regulated by the US Commodity Futures Trading Commission (CFTC) and is also registered with the FINRA (CRD#: 173869/SEC#: 8-69558), SIPC, and the OCC. PhillipCapital provides direct access to the stock market and offers over 2,000 instruments for trading on 30 exchanges in 16 countries. The company also provides a wide range of clearing, financial, and executive services.

👍 Advantages of trading with Phillip Capital for traders in Malaysia:

•No brokerage fees for trading stock market assets.

•Providing access to major American and global exchanges, including CME, EUREX, CBOT, DME, IEX, COMEX, NYMEX, NFX, ICE US, CFE (CBOE), and ICE EU.

•Uses proprietary software.

•Membership in all Asian futures exchanges, which allows traders to expand the list of available trading tools.

•Large selection of supported trading platforms.

•Regulated by CFTC and SEC, membership in FINRA and SIPC.

👎 Disadvantages of Phillip Capital for traders in Malaysia:

•High minimum deposit amount of $5,000.

•Technical support is provided by phone, fax, or email; there is no online chat.

•It does not cooperate with electronic payment systems and charges a commission for withdrawing funds from accounts.

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5
Best Online Apps in Malaysia - Firstrade

Discount broker Firstrade was founded in 1985 in the state of New York. In 1997, the company began providing online stock exchange brokerage services. Nowadays, Firstrade serves clients in 30 countries and offers a vast array of investment assets, a trading platform with an intuitive user interface, and favorable conditions for traders with different backgrounds and trading skill levels. For many years, major industry publications such as Forbes, Barron's, and Smart Money have awarded Firstrade the title of Best Online Broker. Firstrade was named Best in Class by StockBrokers.com in 2019.

👍 Advantages of trading with Firstrade for traders in Malaysia:

•A vast array of available assets such as stocks, options, exchange-traded funds (ETFs), mutual funds, and fixed income products.

•In addition to US and permanent residents, the broker accepts clients from 29 other countries.

•A zero-entry fee for trading stocks, options, and ETFs.

•A zero-initial deposit for trading with your funds.

•Availability of insurance coverage from SIPC.

•Access to comprehensive research instruments and analytical market reviews.

•The ability to trade from mobile devices as well as through a web browser without the need to install an application.

👎 Disadvantages of Firstrade for traders in Malaysia:

•The broker's clients cannot trade on international exchanges. At the moment, Firstrade only deals with securities listed on the US markets and exchanges.

•The company does not offer fractional stock trading.

•US citizens temporarily or permanently residing abroad cannot open accounts as US residents. Only international accounts are available to such traders.

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How to choose a Forex broker’s App in Malaysia?

Choosing a Forex broker's app is a critical option for Malaysian beginners because it has a direct impact on your trading experience and results. Here are seven pointers to help you make an educated decision:

Licensing and Regulation

Check to see if the Forex broker is regulated by a credible financial authority. The Securities Commission Malaysia (SCM) is the Malaysian regulatory organization in financial markets. A regulated broker adds security and transparency to your assets.

A Platform That Is Simple To Use

Choosing a Forex broker with an easy-to-use and feature-rich trading platform is critical to ensuring a positive trading experience, especially for beginners. The best trading platform in Malaysia should act as a portal to the Forex market, impacting your ability to execute trades efficiently and make informed decisions.

A user-friendly interface is essential. The platform should be simple to use, with quick trade execution and easy navigation. A straightforward interface is especially useful for new traders, as it reduces the learning curve and improves overall usability.

Asset Variety

When choosing a platform, evaluating the asset variety offered by a Forex broker is critical, as it influences your ability to diversify your trading strategy and engage with different financial markets.

Consider the variety of currency pairs available, as well as other financial instruments such as commodities, indices, and cryptocurrencies. The broker's selection of currency pairs and other financial instruments shapes the breadth of your trading options, influencing your overall trading experience.

Transaction Fees and Costs

Understand the broker's fee structure. Look for a broker with low commissions and competitive spreads. Some brokers may offer "no commission" accounts, but this may be offset by wider spreads. Calculate your total trading costs to ensure they are in line with your budget and trading style.

Customer Service

Evaluate the broker's customer service responsiveness. As a beginner, you may run into problems or have questions that require answers. Check to see if the broker offers support via multiple channels such as live chat, email, or phone. Inquire about their availability during trading hours as well.

Educational Resources

Choose a broker who provides educational resources for newcomers. This can include tutorials, webinars, and written materials that will assist you in understanding the fundamentals of Forex trading, technical analysis, and risk management. These resources will be provided by a broker who is invested in the success of its clients.

Demo Accounts

Choose a broker who provides demo accounts. Demo accounts allow you to trade with virtual money, allowing you to become acquainted with the platform and test your strategies in a risk-free environment. This is a fantastic resource for beginners looking to gain confidence and experience before trading with real money.

Best Forex trading app for beginners in Malaysia

Tickmill stands out as the best trading platform in Malaysia. Due to its user-friendly interface, extensive educational resources, and competitive trading conditions, Tickmill is by far the best trading app to earn money from.

The broker provides support in multiple languages and offers a variety of account types, including a demo account. Tickmill's MetaTrader 4 platform, with its intuitive design and simple features, makes it the best choice for beginners.

Is Forex legal in Malaysia? Is it safe?

Yes, Forex trading is legal in Malaysia. It is, however, regulated by the Securities Commission Malaysia (SCM), the country's financial markets regulatory body. The SCM has established guidelines and regulations to ensure the fair and transparent operation of financial markets, including Forex trading.

If you want to trade Forex in Malaysia, you should choose a broker who is licensed and regulated by the Securities Commission Malaysia. This helps to ensure that the broker operates within the legal framework and provides traders with a level of security.

Is Forex taxable in Malaysia?

Yes, Forex trading profits are taxed in Malaysia. Forex gains are treated as business income and taxed at rates ranging from 0% to 28%, depending on the amount earned for the year. Losses can also be carried forward to offset profits in subsequent tax periods. To understand their tax obligations, traders should consult with an accountant.

Summary

In this review, you had an opportunity to learn about the features of 5 brokers, which traders in Malaysia choose the most. However, now you need to choose the best of them. You can do it using the scores given by the Traders Union. Check out the score table that will help you choose the Best Online Trading App in Malaysia 2025.

	RoboForex	eToro	Webull	Phillip Capital	Firstrade
Overall score	8.28	9.4	8.5	7.4	7.1
Execution of orders	8.95	9.1	8.2	7.19	6.89
Investment instruments	4.9	9.7	8.8	7.61	7.31
Withdrawal speed	8	9.5	8.6	7.25	6.95
Customer Support work	9.6	9.3	8.4	7.55	7.25
Variety of instruments	9.02	9	8.1	7.03	6.73
Trading platform	9.2	9.8	8.9	7.77	7.47
	Study Review	Study Review	Study Review	Study Review	Study Review
	Open an account Your capital is at risk.	Open an account Your capital is at risk.			Open an account Your capital is at risk.

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