Many traders in Malaysia use mobile apps to trade. Many brokers operate in this country, each offering their own platform. Before making a choice, it is important to evaluate apps to find the one that perfectly suits your goals and strategy. TU analysts compared Top 5 mobile apps. You will be able to choose the Best Online Trading App in Malaysia for 2024, based on our assessments.
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.
eToro is an international broker for trading and investing in assets, copying trades of experienced market players and earning income on offering your own successful strategy. The activities of eToro are controlled by European financial regulators: CySEC and FCA. The broker offers its clients the opportunity to trade indices with a maximum leverage of 1:20 and ETF instruments with a leverage of 1:5. Size of leverage in eToro can also vary depending on the regulation of the division of the broker you work with.
Charles Schwab is a real catch for active trading in the American and international securities markets for both beginners and experienced traders.
Robinhood markets is focused on working with traders from America but does not provide opportunities for active trading in currency pairs.
The conditions of the TradeStation broker are suitable for experienced traders and investors who make large trades in the US stock market.
-
How to choose the best app for trading in Malaysia?
To choose the best app for trading in Malaysia, pay attention to the following criteria:
availability of a license;
reviews from real clients;
trading conditions;
customer service;
availability of training, demo account.
-
What is the best app to invest in Malaysia?
The best app to invest in Malaysia is RoboForex. The minimum deposit here is $10. The broker offers opportunities for active and passive income (copy trading).
-
How to start trading in Malaysia?
To start trading in Malaysia you need:
1Find a reliable broker.
2Register on the platform.
3Fund your deposit account (or choose a demo account).
4Place an order.
-
How can I trade stocks in Malaysia?
You can trade stocks in Malaysia with eToro. Use this broker to invest in more than 3,000 stock assets, including at zero fee.
1
Best Online Apps 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 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 - 36, for accounts: Pro, Pro-Cent, ECN, Prime
•Lack of tools when trading on the R StocksTrader platform
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.
3
Best Online Apps in Malaysia - Charles Schwab
Charles Schwab is one of the largest companies in the US financial services market. It was founded in 1971 and the main office is located in San Francisco. This broker specializes in banking and brokerage services. A special electronic trading platform has been created for traders and investors. There are no fees for opening and maintaining an account, and there are no minimum deposit requirements. A vast array of built-in tools are available for work: stocks, options, ETFs, bonds, mutual funds, futures, insurance contracts (annuities), and various monetary funds.
👍 Advantages of trading with Charles Schwab for traders in Malaysia:
•No minimum deposit is required.
•Working with trading instruments is possible in several ways: via the StreetSmart desktop terminal, a PC browser, and a mobile application.
•Customer support is available 24/7 via online chat.
👎 Disadvantages of Charles Schwab for traders in Malaysia:
•There is no demo account.
•No access to the foreign exchange market.
•Withdrawals are in US dollars only and money is not converted into any other national currency.
4
Best Online Apps in Malaysia - Robinhood
Robinhood is an investment company that has provided services on the stock market for over ten years. Its owners engaged in software development for hedge funds ab initio and then teamed up to create a company that makes investing available to all. The broker is licensed to provide its services and is a member of the Financial Industry Regulatory Authority (FINRA, CRD#: 165998/SEC#: 8-69188) in the United States. There is no information about the broker receiving awards for their activities.
👍 Advantages of trading with Robinhood for traders in Malaysia:
•trading stock market instruments without paying commissions;
•the ability to trade from mobile devices;
•hassle-free registration procedure.
👎 Disadvantages of Robinhood for traders in Malaysia:
•the broker does not offer Forex instruments for trading;
•there are no offers for receiving passive income;
•training materials on the website are limited;
•the company works with clients exclusively from the US;
•lack of online support.
5
Best Online Apps in Malaysia - TradeStation
The TradeStation Group (TradeStation) was founded in 1987 as a trading software company then-named Omega Research. After being listed in the American market, Nasdaq launched an online version, and in 2001 it began providing brokerage services for the sale of securities under the TradeStation brand. Until 2021, inclusive, the broker's trading platform was recognized ten times in a row as the best in its class by StockBrokers.com. In 2020, TradeStation was named Broker of the Year at the First Annual TradingView Broker Awards. In the same year, according to Investor's Business Daily, the company was among the Top 4 of US online stock brokers.
👍 Advantages of trading with TradeStation for traders in Malaysia:
•Licensed by the US Securities and Exchange Commission (SEC) and insurance coverage from the Securities Investor Protection Corporation (SIPC).
•Has a wide range of trading instruments, including cryptocurrencies, IPOs, and ETFs.
•Does not charge commissions for trading US stocks and ETFs.
👎 Disadvantages of TradeStation for traders in Malaysia:
•You cannot trade currency pairs.
•Regulators do not oversee TradeStation Crypto, Inc., which maintains crypto trading accounts.
•The support service does not work around the clock and only answers questions that are asked in English.
•There are only a few ways to withdraw funds, the average time of receipt of funds to a bank account is 4-5 business days.
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 2024.
| RoboForex | eToro | Charles Schwab | Robinhood | TradeStation | |
|---|---|---|---|---|---|
|
Overall score |
8.61 |
9.4 |
8.6 |
8.2 |
8 |
|
Execution of orders |
8.95 |
9.1 |
8.3 |
7.9 |
7.7 |
|
Investment instruments |
8.2 |
9.7 |
8.9 |
8.5 |
8.3 |
|
Withdrawal speed |
9.71 |
9.5 |
8.7 |
8.3 |
8.1 |
|
Customer Support work |
9.17 |
9.3 |
8.5 |
8.1 |
7.9 |
|
Variety of instruments |
8.75 |
9 |
8.2 |
7.8 |
7.6 |
|
Trading platform |
6.86 |
9.8 |
9 |
8.6 |
8.4 |
|
|
|||||
|
|
|
|
- Best Swing Trading App In Canada for 2024
- Best Copy Trading App In Vietnam for 2024
- Best Paper Trading App In Saudi Arabia for 2024
- Best Swing Trading App In France for 2024
- Best Options Trading App In Ghana for 2024
- Best Options Trading App In Portugal for 2024
- Best Bitcoin Trading App In Switzerland for 2024
- Best Binary Trading App In the Netherlands for 2024
- Best Copy Trading App In Sri Lanka for 2024
- Best Bitcoin Trading App In Portugal for 2024
- Best Online Trading App In Pakistan for 2024
- Best Forex Trading App In Jamaica for 2024
- Best CFD Trading App In Indonesia for 2024
- Best Options Trading App In Latvia for 2024
- Best Swing Trading App In The World for 2024
- Best Mobile Trading App In France for 2024
- Best Swing Trading App In Europe for 2024
- Best Online Trading App In Canada for 2024
- Best Copy Trading App In France for 2024
- Best Apps for Stock Trading in Nigeria
- Best Options Trading App In the Netherlands for 2024
- Best Forex Trading App In the US for 2024
- Best Mobile Trading App In Vietnam for 2024
- Best Copy Trading App In Ghana for 2024
- Best Mobile Trading App In Slovenia for 2024
- Best Swing Trading App In Botswana for 2024
- Best Swing Trading App In Nigeria for 2024
- Best Bitcoin Trading App In Israel for 2024
- Best Bitcoin Trading App In Malaysia for 2024
- Best Online Trading App In Asia for 2024
Related Articles
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.