Best Forex Brokers In Malaysia

Forex trading is legal and regulated in Malaysia with a multitude of reliable FX brokers operating within the country.

The local regulatory body licensing brokerage firms in the country is the Securities Commission Malaysia (SC). However, most high-profile forex brokers operating in the country are licensed overseas by the likes of CySEC, ASIC, FCA, and other financial regulatory agencies.

There is no capital gains tax on forex trading profits for individual traders in Malaysia, meaning traders can get 100% of their profits without paying anything. This makes FX trading very attractive in Malaysia and we have got a list of some of the top choices in the country.

There are less strict leverage regulations for retail Forex traders in Malaysia than in European jurisdiction, meaning traders can get a higher leverage of maximum at 1:50. This is why for Malaysian FX traders it is better to opt for Forex brokers that are regulated nearby to get maximum leverage.

A quick comparison of top-rated FX brokers in Malaysia

Here is a quick overview of the top five Forex brokers in Malaysia.

	XM Read the review Visit broker 8.4 8.4 8.34 8.34 CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.03% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.	Tickmill Read the review Visit broker 7.6 7.6 6.29 6.29 CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd. You should consider whether you understand how CFDs or our other products work and whether you can afford to take the high risk of losing your money.	AvaTrade Read the review Visit broker 8.8 8.8 7.63 7.63 CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.	FBS Read the review Visit broker 6.52 6.52 null ᏟᖴᎠs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77.93% of retail investor accounts lose money when trading ᏟᖴᎠs with this provider. You should consider whether you understand how ᏟᖴᎠs work and whether you can afford to take the high risk of losing your money.	ICM Read the review Visit broker 8 8 0 0 Trade Responsibly: CFDs and Spot FX are complex instruments that come with a high risk of losing funds due to leverage. You should not engage in this form of investing unless you understand the nature of the transaction you are undertaking and the true extent of your exposure to financial loss. Your profit and loss will vary according to the extent of the fluctuations in the price of the underlying markets on which the trade is based.
Offers accounts in Malaysia under	FSC, Belize	FSA Labuan	ASIC, Australia	FSC, Belize	FSA Labuan
Account entity for Malaysia	XM Global Limited	Tickmill Asia Ltd	Ava Capital Markets Australia Pty Ltd	FBS Markets Inc.	ICM Capital (Labuan) Limited
Accepts deposits in MYR	No	Yes	No	No	No
Accepts AsiaPay or PayPal	No	No	No	No	Yes
Islamic account	Yes	Yes	Yes	Yes	Yes
Spreads on EUR/USD	From 1 pip	From 1.6 pips	From 0.9 pips	From 0.9 pips	From 1.3 pips
Spreads on Crude Oil	from 0.02	-	0.03% over market	From 0.04	From 2
Spreads on Brent Oil	from 0.02	From 0.04	0.01% over market	From 0.03	From 2
Spreads on Gold	From 2.6 pips	From 0.09 USD	0.29 USD over market	From 0.23 USD	From 0.31 USD
Spreads on BTC/USD	From 46.00	-	0.15% Over-market	N/A	-
Maximum Leverage	1:1000	1:500	1:400	up to 1:3000	1:200 (1:50 for retails)
Minimum Deposit	5 USD, EUR, GBP	100 US or equivalent in MYR	100 USD	5 USD	200 USD
Trading Platforms	MetaTrader 4, MetaTrader 5	MetaTrader 4, MetaTrader 5	MetaTrader 4, MetaTrader 5, DupliTrade, ZuluTrade	MetaTrader 4, MetaTrader 5	MetaTrader 4, MetaTrader 5, cTrader

XM

XM is a very popular regulated broker that accepts clients from Malaysia. Since Malaysian FX traders’ accounts fall under the global branch of XM they can get up to 1:1000 leverage which is much higher than CySEC allowed 1:30. XM Global Limited is authorised and regulated by the Financial Services Commission (FSC) of Belize.

The exact list of tradable instruments provided by the XM is listed below:

50 Forex pairs
58 Cryptocurrencies
1000+ stock CFDs
7 turbo stocks
8 commodities
20 indices
3 precious metals
3 energies
26 stocks from the EU

XM offers diverse account types including Islamic or swap-free accounts for Sharia faith traders. The leverage is the same for Islamic accounts and spreads are typically on par with normal accounts. All account types come in Islamic account variants and there is also a dedicated account for stock trading with low spreads and zero commissions.

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8.4

8.34

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.03% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

	Micro	Standard	XM Ultra Low
Spreads on EURUSD	From 1 pip	From 1 pip	From 0.6 pips
Spreads on Crude Oil	from 0.02	from 0.02	from 0.02
Spreads on Brent Oil	from 0.02	from 0.02	from 0.02
Spreads on Gold	From 2.6 pips	From 2.6 pips	From 1.5 pips
Spreads on BTC/USD	From 46.00	From 46.00	From 35.00
Minimum Deposit	5 USD, EUR, GBP	5 USD, EUR, GBP	5 USD, EUR, GBP
Minimum lot size	0.01 lots	0.01 lots	0.01 lots
Maximum leverage	1:1000	1:1000	1:1000
Swap-free account	Yes	Yes	Yes
Negative Balance Protection	Yes	Yes	Yes
Trading Platforms	MetaTrader 4, MetaTrader 5	MetaTrader 4, MetaTrader 5	MetaTrader 4, MetaTrader 5

Tickmill

Tickmill is a very reliable broker that is available for Malaysian FX traders. The broker offers swap-free accounts with low spreads. Tickmill Asia Ltd is regulated by the Financial Services Authority of Labuan Malaysia(FSA Labuan). Because of local regulations in Malaysia, Tickmill is probably the best-suited Forex broker for local FX traders. The broker offers low spreads, swap-free accounts, and multiple asset classes for trading.

Tickmill offers access to diverse markets for Qatar residents including

62 Forex pairs
15 indices
7 commodities
500 stock and ETFs
15+ futures and options

Tickmill has very low spreads from 0 pips for scalpers in Malaysia and accepts deposits in Malaysian Ringgit (MYR).

Tickmill

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7.6

6.29

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with Tickmill UK Ltd. You should consider whether you understand how CFDs or our other products work and whether you can afford to take the high risk of losing your money.

	Pro	Classic	VIP
Spreads on EURUSD	From 0.0 pips	From 1.6 pips	From 0.0 pips
Commissions	2 USD per side per lot	none	1 USD per side per lot
Spreads on Crude Oil	-	-	-
Spreads on Brent Oil	From 0.04	From 0.04	From 0.04
Spreads on Gold	From 0.09 USD	From 0.09 USD	From 0.09 USD
Spreads on BTC/USD	-	-	-
Minimum Deposit	100 US or equivalent in MYR	100 US or equivalent in MYR	-
Maximum Leverage	1:500	1:500	1:500
Swap-free account	Yes	Yes	Yes
Negative Balance Protection	Yes	Yes	-
Minimum Lot Size	0.01 lots	0.01 lots	0.01 lots
Trading Platforms	MetaTrader 4, MetaTrader 5	MetaTrader 4, MetaTrader 5	MetaTrader 4, MetaTrader 5

AvaTrade

AvaTrade is a regulated Forex and CFDs broker accepting clients from Malaysia. The broker is regulated in multiple jurisdictions and offers attractive trading conditions. AvaTrade has a swap-free account alternative for both retail and professional accounts offering flexibility to Sharia faith followers.

The complete list of tradable instruments offered by AvaTrade is as follows:

64 Forex pairs
629 shares as CFDs
19 cryptocurrencies as CFDs
30 indices
17 commodities

The entity accepting clients from Malaysia is Ava Capital Markets Australia Pty Ltd and is regulated by the Australian Securities & Investments Commission (ASIC).

AvaTrade

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8.8

7.63

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

	Retail	Professional
Spreads on EURUSD	From 0.9 pips	From 0.3 pips
Commissions	0 USD	0 USD
Spreads on DAX40	1.00 pips over the market	1.00 pips over the market
Spreads on Crude Oil	0.03% over market	0.03% over the market
Spreads on Brent Oil	0.01% over market	0.01% over market
Spreads on Gold	0.29 USD over market	0.29 USD over market
Spreads on BTC/USD	0.15% Over-market	0.15% Over-market
Minimum Deposit	100 EUR	100 EUR
Maximum Leverage	1:400	1:400
Swap-free account	Yes	Yes
Negative Balance Protection	Yes	Yes
Minimum Lot Size	From 0.01 lots	From 0.01 lots
Trading Platforms	MetaTrader 4, MetaTrader 5, DupliTrade, ZuluTrade	MetaTrader 4, MetaTrader 5, DupliTrade, ZuluTrade

FBS

FBS is a regulated broker that is available in Malaysia for local FX traders.

The broker offers a multitude of trading assets including:

37 Forex pairs
11 index CFDs
5 commodities
500+ stock CFDs

Stocks at FBS are only accessible using the MetaTrader 5 platform.

FBS has swap-free accounts allowing Sharia faith followers to trade while following their faith in Islam.

FBS

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6.52

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	Standard
Spreads on EURUSD	From 0.9 pips
Commissions	0 USD
Spreads on Crude Oil	From 0.04
Spreads on Brent Oil	From 0.03
Spreads on Gold	From 0.23 USD
Spreads on BTC/USD	N/A
Minimum Deposit	5 USD
Maximum Leverage	up to 1:3000
Swap-free account	Yes
Negative Balance Protection	Yes
Minimum Lot Size	From 0.01 lots
Trading Platforms	MetaTrader 4, MetaTrader 5

ICM

ICM is a regulated broker that is available in Malaysia. ICM is regulated by the Financial Services Authority of Labuan and the entity operating within Malaysia is ICM Capital (Labuan) Limited. The list of tradable instruments provided to ICM FX traders includes:

34 Forex currency pairs
4 commodities
89 stock CFDs
6 index futures
11 cash CFDs

ICM offers Islamic or swap-free accounts for each trading account type and traders can choose between three different account types.

The leverage is capped at 1:200, but retail traders in Malaysia can only get up to 1:50 as per local regulations.

ICM

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Trade Responsibly: CFDs and Spot FX are complex instruments that come with a high risk of losing funds due to leverage. You should not engage in this form of investing unless you understand the nature of the transaction you are undertaking and the true extent of your exposure to financial loss. Your profit and loss will vary according to the extent of the fluctuations in the price of the underlying markets on which the trade is based.

	ICM DIRECT (ECN)	ICM ZERO	ICM MICRO
Spreads on EURUSD	From 1.3 pips	From 0 pips	From 1.3 pips
Commissions	0 USD	7 USD round turn per lot	0 USD
Spreads on Crude Oil	From 2	From 2	From 2
Spreads on Brent Oil	From 2	From 2	From 2
Spreads on Gold	From 0.31 USD	From 0.16 USD	From 0.31 USD
Spreads on BTC/USD	-	-	-
Minimum Deposit	200 USD	200 USD	200 USD
Maximum Leverage	1:200	1:200	1:200
Swap-free account	Yes	Yes	Yes
Negative Balance Protection	Yes	Yes	Yes
Minimum Lot Size	From 0.01 lots	From 0.01 lots	From 0.01 lots
Trading Platforms	MetaTrader 4, MetaTrader 5, cTrader	MetaTrader 4, MetaTrader 5, cTrader	MetaTrader 4, MetaTrader 5, cTrader

Best choice of the broker in Malaysia for each Category

Despite being the top choice, there are still more suited brokers for various trading activities in Malaysia. Among our top five brokers, we are going to compare and reveal the best ones for Forex trading, stock trading, commodities, and crypto trading. The tables below will make it intuitive to pick a suitable broker at one glance.

Best Broker in Malaysia for Forex Trading

	XM	Tickmill	AvaTrade	FBS	ICM
Number of Forex pairs	50	62	64	37	34
Typical spreads on EUR/USD	From 1 pip	From 1.6 pips	From 0.9 pips	From 0.9 pips	From 1.3 pips

AvaTrade is by far the best broker for Forex trading in Malaysia as it offers the lowest spreads from 0.9 pips and 64 pairs, while the second one is FBS with the same spreads but only 34 pairs.

Best Broker in Malaysia for Stock Trading

	XM	Tickmill	AvaTrade	FBS	ICM
Number of stocks	1000+	500	629	500+	89
Spreads on stocks	From 0.01 USD	-	-	-	-
Commissions for stocks	0	0	-	0	0
Max leverage for stocks	-	1:20	-	-	1:50

XM and Tickmill are the best brokers in Malaysia for stock trading because of their wide range of stocks and low spreads with decent leverage.

Best Broker in Malaysia for commodities Trading

	XM	Tickmill	AvaTrade	FBS	ICM
Number of commodities	14	7	17	5	4
Typical spreads on Crude Oil	from 0.02	-	0.03% over market	From 0.04	From 2
Typical spreads on Brent Oil	from 0.02	From 0.04	0.01% over the market	From 0.03	From 2
Typical spreads on Gold	From 2.6 pips	From 0.09 USD	0.29 USD over market	From 0.23 USD	From 0.31 USD

Tickmill offers the lowest spreads among top brokers in Malaysia while XM follows next with its decent offerings including low spreads on oils.

Best Broker in Malaysia for Crypto Trading

	XM	Tickmill	AvaTrade	FBS	ICM
Number of crypto pairs	58	-	19	-	-
Spreads on BTC/USD	From 46.00	-	0.15% Over-market	-	-

AvaTrade and XM are best ones for crypto trading with XM offering 58 cryptos and AvaTrade offering slightly lower spreads on BTC/USD.

How do you check whether the broker is regulated by the Securities Commission Malaysia?

To check whether your broker is truly regulated by the SC of Malaysia you can follow this step-by-step guide from us. The easiest way is to use our filters and see which are brokers regulated in Malaysia. An easier way is to see our list of best Forex brokers in Malaysia so you always opt for safe choices.