When looking for a CFD broker to work with, it's important to consider all of your options and make sure you are working with the best company for your needs. There are many different brokers out there, each with their own unique set of features and benefits. So, how do you know which one is right for you? In this article on AtoZ Markets, we will discuss the best CFD brokers in Malaysia and help you decide which one is right for you.
How to Choose CFD Brokers in Malaysia
When it comes to choosing a CFD broker in Malaysia, there are a few insider tips that can help you make the best decision. First and foremost, it's important to choose a broker that is regulated by Labuan FSA or check to see if they are regulated with an Australian or European body like the CySEC, or the FCA. Regulation will protect your investments and provide compensation in the event of insolvency.
Another important consideration is the fees charged by the broker. Some brokers charge commission on each trade, while others may charge a flat fee or percentage of the total trade value. It's important to compare fees across different brokers to ensure you're getting the best deal. Also check the instruments offered by the brokers.
Finally, it's also worth considering the trading platform offered by the broker and customer support as well. Some platforms may be more user-friendly or offer more features than others. It's important to find a platform that suits your trading style and needs.
If you follow these insider tips, you'll be sure to find the best CFD broker in Malaysia for your needs.
Best CFD Brokers in Malaysia
To make your job easier, AtoZ Markets team and tailored top 5 CFD Brokers in Malaysia after doing extensive research. All the brokers are regulated by reputable regulatory authorities and accept Malaysian traders. Find the list below.
Tickmill
One of the best CFD brokers in Malaysia is Tickmill. They offer a wide range of features and benefits, including a demo account so you can practice trading before putting any real money down. Established in 2014 and holding licenses from LFSA (Labuan Financial Services Authority), Tickmill provides first-class products and services in Malaysia.
image credit: Tickmill
Tickmill Regulations
Tickmill is a multi licensed and regulated CFD broker. The broker is regulated by the following regulatory authorities.
United Kingdom: Tickmill UK is regulated by by the Financial Conduct Authority (FCA)
Europe: Tickmill Europe Ltd is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC).
Seychelles: Tickmill Ltd is regulated by the Seychelles Financial Services Authority (FSA).
Malaysia: Tickmill Asia Ltd is licensed and regulated by the Labuan Financial Services Authority, Malaysia.
South Africa: Tickmill South Africa Pty is regulated by the Financial Sector Conduct Authority of South Africa (FSCA).
Tickmill Trading Platforms
Tickmill trading platforms are designed for a variety of different types of traders. The Tickmill Web Trader platform is a simple and user-friendly platform that is perfect for beginners. Tickmill MetaTrader 4 and MetaTrader 5 are more advanced platforms that are ideal for experienced traders.
Tickmill also offers mobile trading platforms for iPhone, iPad, and Android devices.
Tickmill Products
Tickmill clients can trade a wide range of instruments, including forex, CFDs, stocks, futures, and metals. Tickmill provides its clients with tight spreads, fast execution, and negative balance protection.
Tickmill offers 60+ currency pairs, it also offers 27+ Stock indices and oil. Tickmill also offers 8 Crypto pairs, 4 bonds and 3 metals to Malaysian traders. On MT5, Tickmill offers stock CFDs.
Tickmill has Classic, Pro, VIP, Islamic and Demo Accounts.
Read More: Best Forex Brokers in Malaysia 2024
Cost of Tickmill
Minimum deposit of classic and Pro is $100 but for VIP account, minimum balance should be $50,000.
For the classic account, there is no commission and spreads start from 1.6 pips. For Pro account, commission is $2 per side per standard lot and for VIP account, commission is $1 per side per standard lot. For both Pro and VIP accounts spreads start from zero pips. All types of accounts have Islamic account option. Leverage for Forex trading is 1:500.
Deposit and withdrawal are free. Minimum deposit amount is $100 and minimum withdrawal amount is $25.
Tickmill Customer Support
Tickmill's customer support is available via email, live chat, and phone. We found the phone support to be fast and the answers relevant.
Tickmill's live chat service is moderately fast, however staff members are willing to assist. For instance they'll take pictures for you to help clarify things. Only thing we did not have was the availability of 24/7. Overall, we were satisfied with Tickmill's customer support.
Pros and Cons of Tickmill
Pros
√ Customer support is responsive, multilingual and 24/5.
√ Payment options are good
√ Secured deposit and fast withdrawal.
√ Welcome account bonus
√ Low spread & High leverage.
Cons
- Only a small selection of market options are available to trade.
- The pricing of Tickmill's Classic account isn't the same as other competitors.
Want to trade with Tickmill? Open a live account with the broker:
OctaFx
Another great CFD broker in Malaysia is OctaFx. OctaFX is under the brand name of Octa Markets Incorporated and has been operating since 2011. OctaFx currently offers services to 150+ counties. They have 10 million+ Forex accounts opened. The company Headquarter is in St. Ben cent and Grenadines.
image credit: OctaFx
OctaFx Regulations
OctaFX activity is supervised and regulated by the authorities of St. Vincent and the Grenadines under the International Business Companies Amendment and Consolidation Act.
OctaFx is also regulated by CySEC in Cyprus.
OctaFx Trading Platforms
They have Proprietary mobile apps for Android, iOS. They also have the industry standard MT4 and MT5 trading platform for desktop and mobile.
OctaFx Products
In Malaysia, OctaFx offers 35+ FX pairs, this includes major, minor, and exotic currency pairs.
On OctaFx, you can profit from the 10 most popular CFDs on indices, including Dow Jones, NASDAQ, Nikkei and Euro Stoxx 50.
They also offer Gold, Silver, Crude oil and Natural Gas. They also have 30+ fiat Crypto pairs.
Traders can also take advantage of the OctaFX Copy Trading feature.
Cost of OctaFx
For Malaysian traders, OctaFx doesn't have any deposit and withdrawal fee except Perfect Money. Perfect Money charges 0.5% for Deposit. The minimum deposit with OctaFx is $25. The deposit is instant.
Both MT4 and MT5 accounts are commission free. They make money from spreads and swap fees.
OctaFx Customer Support
OctaFx has a team of skilled support personnel that can be reached via live chat, social media and email by filling a form on their website. I have checked their live chat. They are quick to respond. Live chat is available 24/7.
Pros and Cons of OctaFx
Pros
√ Unlimited demo account
√ Forex and CFDs are offered
√ More than 30 pairs of FX to trade
√ Deposits and withdrawal are free
Cons
- Very few Crypto assets
- No VPS
- Support via phone is not available 24/7.
- There are no clients from the USA, Canada, Belgium or other countries that are not part of the EU
If you want to give it a try with OctaFx, you can use the link below:
FXTM
Among the top CFD Brokers in Malaysia, FXTM is one of them. ForexTime (FXTM) is a forex broker established back in 2011 by Andrey Dashin. FXTM offers an intuitive trading platform based on MetaTrader 4 and 5 and offers a wider range of trading instruments including Forex, Cryptocurrencies, Index and Commodity CFDs, Spot Metals and Stock CFDs.
image credit: FXTM
FXTM Regulations
FXTM is regulated by different reputable regulatory authorities around the world. They are:
Cyprus: Forextime Ltd (EU) is regulated by CySEC (185/12).
United Kingdom: Forextime UK Limited is regulated by the FCA (777911)
South Africa: ForexTime Limited (South Africa) is regulated by FSCA (46614)
Global: Exinity Limited (Worldwide) is regulated by FSC (C113012295)
FXTM Trading Platforms
FXTM provides MT4 and MT5 trading platforms for their customers. With FXTM, MT4 and MT5 are available on Windows and Mac systems and on iOS and Android mobile devices.
They also have Proprietary mobile app named FXTM Trader. With FXTM Trader, you can take advantage of the broker's copy trading service in FXTM Invest.
FXTM Products
In Malaysia, traders can get access to over 1000 trading instruments with FXTM. FXTM offers Forex, Metals, Stocks, Commodities and Indices.
They offer 4 types of accounts in Malaysia. Micro Account, Advantage Account, Advantage Plus Account and Demo Account.
For forex trading in Malaysia, They offer 1:1000 leverage for micro Account and 1:2000 for Advantage and Advantage Plus Accounts.
If you are also into Forex trading, we recommend the following 3 Forex Brokers.
Costs of FXTM
In Malaysia, Deposit to FXTM is free. For withdrawal through ewallet is free but with credit card, you will be charged a fee.
Minimum deposit in FXTM is $10. Micro and Advantage Plus Accounts do not have any commission. But for Advantage account commission ranging (on average) from $0.40 to $2 per $100K notional value. FXTM spreads starts from zero pips
FXTM Customer Support
FXTM customer support includes a comprehensive FAQ section, which you can use to answer a few questions before contacting the support team. Malaysian traders also can email them, call them or do live chat on FXTM website to resolve their issues.
FXTM Pros and Cons
Pros
√ They provide amazing customer service
√ FXTM has great educational tools
√ Easy and fast account opening
Cons
- The broker charges Inactivity and withdrawal fees
- CFD fees are high
If you want to trade with FXTM, you can use the link below:
Multibank
Multibank is one of the largest CFD brokers in the world and is based in London. The company offers a wide range of currency pairs and CFDs for clients to trade.
image credit: Multibank Group
MultiBank Regulations
In the case of trading, you should never select an unregulated broker. not licensed. MultiBank Group consists of several companies that are heavily controlled across five continents by ten financial regulators across a variety of areas, ensuring protection for investors.
Australia: MEX Australia is governed through the Australian Securities & Investments Commission with AFSL numbers 416279.
Germany: The broker is regulated by The Federal Financial Supervisory Authority (BAFIN) with license number HRB 73406.
Austria: MEX Asset Management GmbH -Austria branch is licensed and regulated under the Financial Markets Authority ("FMA") under licence number 491129z.
Cayman Islands: MEX Atlantic Corporation is licensed and controlled through CIMA. Cayman Islands Monetary Authority ("CIMA") with license number 1811316.
British Virgin Islands: Multibank FX International Corporation is licensed and controlled under the Financial Services Commission of the British Virgin Islands ("FSC") under license number SIBA/L/14/1068.
Hong Kong: Red Rock Pay Ltd is licensed and is regulated under the supervision of Hong Kong Customs and Excise ("HKCE") Department under license number 18-11-02612.
Singapore: MEX Global Markets PTE. LTD. is authorized and controlled through Singapore's Monetary Authority of Singapore ("MAS") with license number CMS101174.
Pacific Region: MEX Pacific (V) Ltd is licensed and regulated by Vanuatu Financial Service Commission ("VFSC") and has a license number 700443.
Multibank Trading Platforms
Traders can choose a platform among a list of trading platforms of MultiBank Group. They offer the following trading platforms.
MetaTrader 4
MetaTrader 5
WebTrader
Social Trading
Mobile App
MultiBank Products
If we see the investment options, MultiBank offers Forex, Metals, Shares, Indices, Commodities and Cryptocurrencies.
MultiBank provides 55+ major, cross, and exotic currency pairs, and gives the tightest spreads. Their EUR/USD spreads start from 0.0 pip in an ECN account. If you are a mental lover, MultiBank has Gold, Silver with 7 CENTS Tightest spreads on Gold, 3 CENTS Tightest spreads on Silver. MultiBank offers CFDs on stocks. They have 20,000 equities of the largest multinational companies listed on the top stock exchanges in the world.
MultiBank has major indices from all over the world. You can trade major indices like US30, SP500, DE30, UT100, UK100, AUS200 and more. They provide 16 major commodities by CFDs. Spreads start with zero pip and have lower margin. Multibank offers Crypto-Fiat pairs for trading. For example, they have BTC/USD (Bitcoin), ETH/USD(Etherium), LTC/USD (LiteCoin), RPL/USD (Ripple) and more.
MultiBank offers three types of accounts. Standard, Pro, ECN accounts and Demo accounts. All account types support Social Trading.
They have Islamic accounts for Shares, Crypto, Indices and Commodities. Swap Free account is only available with Standard account. They also have a Mex Sports account exclusively for the MT5 platform.
For Forex, spreads start from zero in an ECN account and vary according to your account type.
MultiBank provides 1.500 leverage on forex and metals. For shares 1:20, For Indices 1:100, for crypto 1:20
Costs of MultiBank
They do not have any commission for Standard and Pro accounts but for ECN accounts they charge $3 per lot.
They have a wide range of deposit methods including bank transfers and cards.
Minimum withdrawal amount is $50 for card and online and for bank transfer it's $100.
They do not have any deposit or withdrawal fees.
Deposit and Withdrawal time vary depending on the payment methods as they have so many methods.
MultiBank Customer Support
Trading requires a lot of customer support from brokers. They provide 24/7 support which is really amazing. Their customer support is available via Whatsapp, form filling, live web chat and 24/7 phone call. We found their web chat very responsive.
Pros and Cons of Multibank
Pros
√ They offer 20,000+ assets
√ Low spreads from 0 pips and maximum leverage of 1:500
√ They have MAM/PAMM accounts and proprietary copy trading platform
√ Multibank provides ECN trading with deep liquidity and no requotes
Cons
- Scalping is not allowed on Multibank
- They have limited education resources
Want to try Multibank? You can do so by clicking the following link:
XTB
XTB has its headquarters in Warsaw, Poland. Established back in 2005, this broker has offices in 13 countries, such as the UK, Poland, Germany, France, UAE and Chile. XTB is one of the best CFD Brokers in Malaysia.
image credit: XTB
XTB Regulations
XTB is multi licensed around the world.
United Kingdom: The Forex broker is regulated by the UK Financial Conduct Authority (FRN 522157).
Dubai: XTB MENA Limited is licensed by DFSA (Dubai Financial Services Authority)
EU: XTB Limited is authorised and regulated by the Cyprus Securities and Exchange Commission with CIF Licence number 169/12
Non EU/UK: XTB International Limited is authorised and regulated by the International Financial Services Commission in Belize. (IFSC License No.: 000302/185).
Other than that, XTB as a group is also regulated by the authorities including the KNF, IFSC, CMB and FSCA.
XTB Trading Platforms
Trading Platform: xStation (Web Based, Desktop, Android, iOS, Tablet). There are a myriad of tools for analysis of technical data available on the platform. You can find 27 drawing tools as well as 37 technical indicators.
XTB Products
They offer 1849 CFDs on stocks, 138 ETFs, 23 commodities, 36 indices, 5 cryptocurrencies, and 57 forex pairs.
Cost of XTB
The average spreads on the EUR/USD stood at 0.91 pip and minimum deposit is $250.
There are no fees for depositing through bank transfer, credit card and debit cards. They charge a 2% fee for Skrill and 1% for Neteller deposit.
XTB Limited doesn't charge any fees for withdrawal if the amount is above $60. Demo account is for a limited time. So if you want you can try multiple demo accounts to test their platform. For forex trading, they have no commission.
XTB Customer Support
Support for customers is available 24/7 and If you have any queries, you can reach them through the chat. The platform is brimming with tools for fundamental and technical analysis as well as educational resources.
Pros and Cons of XTB
Pros
√ XTB xStation platform suite offers excellent functionality, along with a broad selection of features and tools for trading.
√ XTB offers low spreads
√ XTB provides a wide selection of comprehensive educational videos as well as written content. It also offers more than 200 lessons through their Trading Academy.
√ XTB U.K. recently launched Zero-dollar-commissions for CFDs in shares.
Cons
- MetaTrader 4 is not being promoted by the XTB's U.K, Poland, and Cyprus branches, though it is still available to request through the various locations around the world XTB offices.
- The custom investment basket tool was temporarily removed from the xStation 5 platform.
If you want to give it a try with XTB, you can use the link below:
No matter what your needs are, there is a CFD broker out there that can meet them. Do your research and compare different brokers to find the one that is right for you. With so many options available, you are sure to find the perfect broker for your needs.
Best CFD Brokers in Malaysia 2024
What Makes a CFD Broker Good?
When it comes to choosing a CFD broker, there are many things you need to take into account. Not all brokers are created equal, and some are definitely better than others. In this blog post, we will discuss what makes a good CFD broker and how to choose the right one for you.
The first thing you need to consider when choosing a CFD broker is regulation. It is important to make sure that the broker you are considering is properly regulated by a reputable authority. This will ensure that your funds are safe and that you will be able to trade with confidence.
Another important factor to consider is the fees charged by the broker. Some brokers charge higher fees than others, so it is important to compare the fees before you open an account. You should also consider the spreads offered by the broker. The smaller the spread, the better, as this will save you money on your trades.
Finally, you need to consider the platform offered by the broker. Make sure that the platform is user-friendly and that it offers all the features you need. The last thing you want is to be stuck with a platform that is difficult to use or that doesn’t offer the tools you need to be successful in your trading.
If you keep these factors in mind, you should be able to find a good CFD broker that meets your needs. Just make sure to do your research and compare the different brokers before you open an account.
CFD Brokers Explained
CFD broker is an online trading platform that enables investors to trade contracts for difference. A CFD is an agreement between two parties to exchange the difference in the value of a underlying asset at the end of the contract.
The underlying asset can be anything from shares, commodities, indices or even currencies. When you open a CFD position, you are speculating on whether the price of the underlying asset will rise or fall. If your prediction is correct, you will make a profit; if it is incorrect, you will make a loss.
CFD brokers offer leverage, which means that you can trade with more money than you have in your account. Leverage magnifies both profits and losses: so while it can lead to larger profits, it can also lead to greater losses. CFD brokers make their money from the spread, which is the difference between the buy and sell price of an asset.
When you open a CFD position, you will need to choose whether to go long or short. Going long means that you think the price of the underlying asset will rise; going short means that you think it will fall.
If you want to learn more about CFD trading, we recommend reading our beginner’s guide to CFDs. This covers all the basics, including what CFDs are, how they work and what risks are involved. It is important to understand these before trading CFDs.
CFD trading is not suitable for everyone and you should make sure that you understand the risks involved. CFD brokers should be regulated by reputable regulatory authorities, which means that they must adhere to strict rules.
If you are thinking about CFD trading, we recommend that you speak to an independent financial advisor to get professional advice. CFD trading carries a high level of risk and can result in losses that exceed your deposits.
Best CFD Brokers in Malaysia 2024
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