In Malaysia, the very first thing that struck me about forex trading is the need to choose a broker very carefully. When you trade in Malaysia, the laws are very simple, with the Labuan Financial Services Authority (LFSA) supervising all foreign exchange operations. Having worked with a forex broker regulated by the LFSA in reality gave me a great sense of security as I knew they operated under rules. However, the fact that other Malaysian traders are also able to go for international brokers gives an opportunity to seek the best trading platforms and conditions.
I’ve found it particularly interesting to invest in currency pairs because of Singapore’s location and Malaysia’s trading hours. This means that we can enjoy high liquidity during the Asian session of the market, even though most trade actions begin in the European and USA sessions. For my part, my favorite brokers are those who enable MetaTrader 4 or MetaTrader 5 due to the fact that I am able to monitor my trades and analyze the movement of prices rather accurately. This has been a bit of an adjustment for me, but I have become more confident in being a trader in Malaysia due to my understanding of the regulatory aspect and the platforms available.
Our recommended Forex brokers in Malaysia 2025
Key Features to Look for in a Forex Broker
My initial step towards finding a forex broker in Malaysia was met with a few mindset challenges. I figured that there are rudimentary factors that can assist in making the right decision. First among them is regulation and security. There’s no one who wants to lose his precious money with an unregulated broker. I always verify that trading companies are regulated by the LFSA or other reputable regulatory bodies such as FCA or ASIC. This gives me assurance that my money is safe because the broker is regulated.
For those just starting out, it’s essential to understand how to become a forex trader and why regulation matters. Next in line is the trading interface. I’ve had my fair share of MetaTrader 4 and MetaTrader 5, and both platforms are decent, especially for someone who trades on technical analysis. cTrader is another platform that I’ve tried, which is more geared toward high-frequency traders. It doesn’t matter whether you are a beginner or a seasoned trader; it is paramount to get hold of the right platform since it makes a great difference in one’s trading experience.
It is also important to consider the types of accounts offered. Some brokers offer plain standard accounts; some work only with ECN accounts; and some do not charge commission and have what they call Islamic accounts. Since I usually make transactions of small sizes, I am mostly looking for a broker with a narrow range of spreads and low rates for the services I use. One more thing that is worth taking into account is the leverage allowed by the broker. In Malaysia, one can come across brokers offering as much as 1:500 leverage but I prefer to hit around 1:100 for efficient risk control. In general, concentrating on these core elements helps me to locate masters who are compatible with my trading and investment objectives.
Forex trading in Malaysia: is it legal?
Yes, forex trading is legal in Malaysia. There are three primary laws that govern the Forex market regulation in Malaysia is governed by three primary laws. Malaysians who are looking to start Forex trading in the country need to follow and understand these regulations. These regulations are as follows:
- The Exchange Control Act of 1953,
- The Money Changing Act of 1998.
- The Securities Commission Act of 1993,
Furthermore, to be able to trade forex in Malaysia, you need to open an account with a broker who is authorized by the competent authority, which in the case of Malaysia is represented by the SCM (Securities Commission of Malaysia).
Therefore, when choosing a broker in Malaysia, you must check that it is registered with the SCM. The brokers listed above are all authorized in Malaysia by the SCM and regulated at the European level.
Top 5 Forex Brokers in Malaysia
From the numerous brokers that I have tried, I have been able to come up with some of the best choices for forex trading in Malaysia. Malaysians have many choices among the top forex brokerage companies as each one of them has something different to offer. Here is a rundown of the ones that I have found the most helpful.
FXGT.com
FXGT.com is a highly regarded online CFD trading platform that has gained recognition as one of the best brokers in Indonesia. With its comprehensive range of financial products and services, strict regulatory oversight, and user-friendly trading platforms, FXGT.com offers Indonesian traders a reliable and feature-rich trading experience.
Regulations
FXGT.com operates under the supervision of reputable regulatory bodies, ensuring transparent and fair trading practices. The following regulatory authorities oversee its operations:
Seychelles Financial Services Authority (SFSA): SFSA regulates 360 Degrees Markets Ltd, the entity registered in Seychelles associated with FXGT.com.
South African Financial Services Conduct Authority (FSCA): GT IO Markets (PTY) Ltd, a company registered in South Africa, falls under the regulatory purview of the FSCA.
Vanuatu Financial Services Commission (VFSC): GT Global Markets Ltd, registered in Vanuatu, is licensed and regulated by the VFSC.
Cyprus Securities and Exchange Commission(CySEC), available only for Institutional clients.
Trading Platforms
FXGT.com provides Indonesian traders with two advanced trading platforms:
MetaTrader 4 (MT4): A user-friendly platform with a wide range of features suitable for traders of all levels.
MetaTrader 5 (MT5): A more advanced platform offering additional features like algorithmic trading for experienced traders.
Product Offering
From the traditional world of Forex and Stocks to the cutting-edge realm of NFTs and DeFi Tokens, FXGT.com offers a comprehensive trading experience. The platform includes trading on major Cryptocurrencies, Precious Metals, Energies, Indices, and their exclusive GTi12 Index. With its wide array of asset classes, FXGT.com is a go-to platform for both novice and experienced traders.
Customer Support
FXGT.com values its Indonesian traders and provides exceptional customer support through various channels 24/7:
Multilingual Support: Indonesian traders can communicate with FXGT.com's customer support team in English, Japanese, and Chinese.
24/7 Availability: Customer support is accessible round the clock, ensuring assistance at any time of the day. Support channels include live chat, email, and phone.
FXGT.com Pros
- Easy-to-use Platform: FXGT.com's user-friendly interface makes it accessible to traders of all experience levels.
- Wide Range of Assets: Offering a diverse array of assets, FXGT.com allows traders to diversify their investment portfolios.
- Advanced Trading Resources: The platform offers advanced trading tools such as charts, indicators, and technical analysis tools.
- 24/7 Support: FXGT.com's dedicated customer support team is always available to help resolve issues and answer questions.
- Regulated Operations: As a regulated broker, FXGT.com provides an extra layer of security and trust to its users.
FXGT.com Cons
- Limited Access: Unfortunately, FXGT.com is not available to users in the USA or the European Union.
FXGT.com emerges as one of the best brokers for Indonesian traders due to its strong regulatory compliance, extensive range of trading products, user-friendly platforms, and reliable customer support. While it has slightly higher spreads and a relatively high minimum deposit, these factors are outweighed by the overall benefits and features offered by the broker. Indonesian traders can trust FXGT.com to provide a secure and enriching trading experience.
Want to try FXGT, You can do so by clicking the following link:
Exness
Exness is the broker with which I’ve had wonderful encounters, particularly during the time when I was just starting out. They are present in many countries and have licenses from several countries including the UK’s FCA and CySEC from Cyprus. It is worth mentioning that Exness does not ask for any minimum deposit when opening a standard account, which is what I like most about it. This implies that you will not need to put up much of your capital in the first place before you start trading. Also, they have a leverage of as much as 1:500, but this one is certified for Malaysian traders only. In a way, this is good since one doesn’t have to look for bulky funds to make big investments. However, caution is also important as abuse of leverage can lead to porter losses.
In their MetaTrader 4 and 5 platforms, they have a number of technical tools that are rather helpful and easy to use. I have been really impressed with the speed of execution, which is typically 25 milliseconds or less. For me and other inexperienced traders, it makes a certain change, especially in times of market upsurges. Exness also provides reasonable customer service and I have always had smooth withdrawal processes. The only disadvantage I have observed so far is their inability to extend services to retail traders in the entire European region, but for Malaysian traders, it is a better option.
Pros:
- Zero minimum deposit
- Fast execution speeds
- Strong regulatory oversight
Cons:
- Limited availability for European traders
- No fixed spread accounts
If you want to trade with Exness then you can follow the following link:
JustMarkets
What will take you by surprise about JustMarkets is the fact that it offers just the right mix of these features. It is an international broker of great standing and has a relative regulation in many territories including the Seychelles Financial Services Authority (FSA). One of the things that I personally found quite useful is the fact that they allow one to open accounts in Malaysian Ringgit (MYR) making currency conversions unnecessary: It is also important that Islamic accounts are available which is necessary for those who want to avoid swaps.
I have used their MetaTrader 4 and also MetaTrader 5 and they have such basic things you expect from leading brokers like low spreads, execution speed, and a multitude of trading opportunities, tools, and resources altogether. In particular, the Raw Spread account is really doing its best with some 0.0 spread on low commission charged on a per-trade basis which is my best for active trading. The only thing to note that I have come across is the support staff responses sometimes take too much time but otherwise all is well with JustMarkets.
Pros:
- Supports MYR as a base currency
- Islamic accounts
- Tight spreads on Raw accounts
Cons:
- Customer support can be slow
- Limited educational resources
FP Markets
This is another my brokerage that I have benefited greatly from, especially in regard to low-spread trading. They have the Australian Securities and Investments Commission (ASIC) overseeing their operations which gives me confidence in their credibility. For the cost-conscious traders, FP Markets provides amongst the lowest trading spreads in the entire industry. I’ve also been able to enjoy very low spreads on the major pairs such as the EUR/USD that I recall seeing as 0.1 pips.
They have both MetaTrader 4 and MetaTrader 5, but their comparative advantage is in the diversity of instruments offered. In addition to forex, FP Markets also gives the ability to trade commodities, indices, and even cryptocurrencies. Their execution speed is satisfactory and I have never had the risk of slippage. However, I equally do not want so much room for my hopes as regards this category of resources for new entrants. However, for those who are practicing and want the cost to be low and have many of the assets to trade, FP Markets is the one to go to.
Pros:
- Low spreads
- Wide range of instruments
- Multiple trading platforms
Cons:
- Limited educational resources
- Higher minimum deposit for ECN accounts
If you want to trade with FP Markets then you can follow the following link:
OctaFX
OctaFX is very much appreciated for its copy trading feature which I personally find very helpful when time does not allow for any market analysis. They provide two main types of accounts—Micro and Pro where both have competitive spreads starting from 0.6 pips. There is no local regulation for OctaFX within Malaysia, however, they do accept MYR as a currency for deposits and withdrawals and that’s very nice.
Their offered standard MetaTrader 4 and 5 platforms were just okay, however, to me, their copy-trading app was a game changer. It connects you with successful traders and lets you use their investment strategies as if you were one of them. This can be really helpful for the new users who are still in the very first stages. The only drawback is that their spreads may be a little wider during busy trading sessions, but other than that OctaFX is a firm believer in social trading.
Pros:
- Copy trading feature
- Low spreads
- Supports MYR deposits
Cons:
- Not locally regulated in Malaysia
- Spreads can widen during peak hours
If you want to trade with OctaFX then you can follow the following link:
FXTM
FXTM has been a broker that I have relied on for its high-leverage offerings. They are licensed to provide services in over eight countries, such as CySEC and FCA, and they offer up to 1: 1000 which is too much in comparison with the rest of the brokers. In any case, I do not use that much leverage by myself as I do think it’s risky but at least I know that there’s an option like that. FXTM has introduced both MetaTrader 4 and 5 platforms, together with a mobile application which I find really useful for moving while trading.
What I like more about FXTM is in fact their diverse range of educational materials. When I just enrolled in them, their tutorials, webinars, and articles were proving to be very helpful. There is also glad to notice a successful assortment of account types from Micro to ECN which gives you a chance to decide on a more suitable account for your strategies. The only reason that I had a bit of trouble with - from all these experiences with FXTM - is that the withdrawal processes sometimes take a little longer than with other brokers, but this is a minor inconvenience for me to be put off by this broker.
Pros:
- High leverage options
- Comprehensive educational resources
- Multiple account types
Cons:
- Longer withdrawal times
- Higher spreads during high volatility
If you want to trade with FXTM then you can follow the following link:
These are the top brokers I have personally tried and can safely advise for forex trading in Malaysia. Each has its strengths and weaknesses as much as we agree so it really boils down to how you want to prioritize each of them in your trading journey.
Leverage, Risk, and Margin
Leverage is one of the factors in forex trading that I was very keen on when making my decision to select a broker. In Malaysia, most brokers provide leverage levels that range from point 30 to point 500 or even more according to their local regulations or international regulations for their broker. For example, Exness brokers provide Malaysian traders with up to 1:500, and with FXTM the leverage is up to 1:1000. Based on my trading history, higher leverage can be interesting as it enables one to take bigger positions than the investment made. But I also got to know that it is a knife that cuts on both sides, if there’s an upside to leverage then the downside is even greater.
I’ve been using leverage for some time and when I started, I didn’t appreciate the risks associated with leveraging, and pretty soon I understood how easy it is to lose a trading account when things are not done properly. Hence the reason why loss control is very important. Most brokers have features that include stop-loss orders and negative balance protection to help keep the trader from taking on excessive risk, and I must say I appreciate these functions. Understanding the margin is very crucial. Normally, margin refers to the cash you must have in order to keep the position open. If the ratio is high, the requirements on margin will be lower, but on the other hand, the risks will increase.
In the course of my trading, I have learned that leveraging is very easy but it is a good practice to know how to do it properly. Out of practice, I tend to work on something around a 1:50 ratio since it is relatively safe for my account. Each broker has a different approach to the leverage margin calls and stop-out levels, and it is for this reason that I take my time to go through these terms before selecting a broker. There is a saying that: it is one thing to make money and another to lose it. So understanding the leverage versus margins is very critical for survival in the sector in the long run.
Regulation and Licensing
Just like me, once I began to learn about forex, I realized that knowing all the rules and regulations was equally essential. This is because, in Malaysia, the Labuan Financial Services Authority (LFSA) acts as the main authority for the regulation of forex brokers. I found out quite quickly that there were all the reasons one needed to elect a broker registered with the LFSA. One of the WOW factors as you trade with an LFSA-regulated broker is that such brokers operate under firm requirements which make their practice very safe.
Something that I have observed is that offshore brokers which are located in areas with little restrictions tend to have high leverage, sometimes as high as 1:1000. Offshore brokerage firms often aim to ‘lure’ potential clients with affordable trading terms. Such a brokerage house, however, I believe is better off without - at least, until such time as trading is regulated. A regulation is an assurance that the broker will adhere to some obligatory rules. Such rules range from ensuring that the client’s funds are protected to ensuring fairness while trading. This proves to be very advantageous in keeping your investments safe for a longer duration.
As for online traders from Malaysia, they must check the broker's licensing, and more importantly, they check if the brokers are regulated by LFSA or any of the internationally reputed bodies. That is one of the first things I look for before joining any site, and I think that is good practice for people because it will help to protect themselves.
Payment Methods and Local Support
When I first dipped my feet into trading, one of the factors that I always considered with every broker was the payment options, as well as the ease with which funds can be deposited and withdrawn, if at all, with each broker. Rather than worry about the need to convert their currency into US dollars, Malaysian traders find great convenience in transacting in Malaysian Ringgit (MYR). I really appreciated the fact that FMC markets and JustMarkets permitted me to make deposits and make withdrawals in MYR. This probably simplified the process even more because I did not have to go through the hassle of converting currencies and incurring extra costs.
Most brokers accept many other payment methods out there. From my experience, the most widely available methods particularly include bank wire deposits and withdrawals, credit and debit card deposits and withdrawals, as well as withdrawal and deposit of e-wallets such as Skrill and Neteller among other bits. Personally, in most cases, the fastest and the most convenient payment option for these e-wallets is that credit a lot gets done immediately while in other cases a deposit takes less than 24 hours. Bank transfers are safe for large amounts but sometimes take a little longer than expected especially if there is a big amount involved.
Broking is something that also requires considering local customer support. Some brokers even have customer service in the Malay language, which is converted best for Malaysian traders. Most of the brokers, however, have customer support 24/7 in English, and I have observed that there are some brokers such as Exness and FP Markets that assist through live chat and email very well and promptly. I have had my doubts cleared in no time when I have used the live chat service which I much favour because it is instant.
Trading has also been made easier due to the fact that there are diverse payment options and support is trustworthy. Before I settle on a broker, I always ensure that I do my research and find out whether they have conducive and fair deposit and withdrawal fees that do not ease up the profits in the long run due to hidden costs.
Islamic Accounts and Swap-Free Trading
As a person who values legal ethics in trading, I realized that Islamic accounts are perfect for traders who wish to participate in forex in the most halal way. Some brokers offer Islamic accounts, which are swap-free accounts where trading is done without the applicability of interest that many people call overnight swaps which are haram in Islamic finance.
In my case, while looking for a broker with Islamic accounts, I noticed several good brokers, such as JustMarkets, Exness, and OctaFX, themed accounts. It is normally a simple process to open an Islamic account as most brokers have this as an option during sign up or they allow one to make a request for it through customer service. As for me, Forex brokers working with Islamic accounts usually do not restrict their customers’ trading in any way and provide them with identical accounts as in the case of standard accounts with the same platforms and instrument availability.
Along with this, swaps are chargeable as they are a common norm for making profits in margin accounts. However, Islamic traders' accounts are considered to be a great benefit by many, however, some companies may be holding extra fees to deposit or even liquidate such accounts. Whenever I use any trading account, I always review its fee structure and policies to avoid paying anything extra. Bryan also encourages clients to check if the Islamic account offered by the broker meets the desired standard of the country or the international market because there are different interpretations of Islam. For motivated Malaysian traders who wish to be on the right side of Islam, Islamic accounts proved to me that traders don’t have to worry about the principles as the trades would not conflict with their morals. This is one of the features that I like when looking for a broker and I have been able to fully engage in the forex market without going against my back and being careful to find a broker that respects my values.
Conclusion
Malaysia is a great place to trade Forex. You have a choice of many top-rated brokers, all of whom offer different features and benefits. So which broker should you choose? It depends on your individual needs and preferences. Do some research, compare the different offerings, and then make an informed decision about which broker is right for you. To make your broker selection job easier we have mentioned best Forex Brokers in Malaysia in the above. We wish you the best of luck in your trading journey.
Best Forex Brokers in Malaysia 2025
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