Best Forex Broker Malaysia 2022: Top MY Forex Brokers List!
A trusted forex broker is a financial institution that allows traders to purchase and sell foreign currencies. The term forex refers to foreign exchange. In the forex market, all deals are made between pairs of two distinct currencies.
A forex broker is sometimes known as a currency trader or a retail forex broker. Retail currency traders are among a forex broker’s clients. They utilize mobile trading platforms to speculate on the movement of currencies. Additionally, they serve as a clearinghouse for big financial services organizations that trade on behalf of financial institutions and other clients. All the best forex broker Malaysia only handle a small part of the total volume of the foreign currency market.
About Forex Broker Malaysia
Malaysians frequently trade forex. While any worldwide forex broker can accept Malaysian consumers, a Capital Markets Services License (CMSL) from Malaysia’s financial regulator, the Securities Commission of Malaysia (SCM), is preferred.
Malaysian people are increasingly using mobile phones for mobile trading and setting up a trading career. Almost 80% of Malaysians now have access to an internet connection. Simultaneously, youthful employment in trading careers has increased as job competition has risen.
Young, educated Malaysians seeking new ways to earn money are leading a trading Forex boom. Professional traders may now create Islamic accounts, withdraw funds, watch market news, and encourage mobile trading by trading from their cellphones.
Many top Malaysian forex brokers following regulations accept a minimum deposit as low as $1. Most of the best forex brokers Malaysia provide low-cost Islamic mobile trading systems, enticing pious Muslims.
Top Forex Brokers Malaysia
- Tickmill:- Best for Active and VIP Traders
- ICM Capital:- Best for Individual and Institutional Clients
- IG Group:- Best for Trading CFDs
- Forex.com:- Best for High Volume Malaysian Forex Trader
- Plus500:- Best for Wide Range of Financial Markets
- Interactive Forex Brokers:- Best for Casual and Advanced Malaysian Forex Traders
- Rakuten Securities:- Best for Forex Dealing and Metal Broking
- Saxo Bank:- Best for Offering of Investments & Copy Trading
- FXOpen:- Best for Active & High Volume Traders
- Oanda:- Best for Currency Data Analytics & Trading
Best Forex Broker Malaysia List
The list below is consistent for the best Malaysia forex broker. CryptoNewsZ.com has done all the hard work for you, by comparing the top MY forex brokers with their reliability, speed, fees, and SCM authorized broker.
Tickmill is an MT4 regulated & licensed forex broker in Malaysia offering some of the lowest trading fees in the forex industry. While the Classic Account features relatively wide spreads and no cost, the Pro Account features changeable lowest spreads as low as 0 pips, a 4 USD (round turn) charge – one of the lowest in the business – and a minimum deposit requirement of only 100 USD. Tickmill, one of the best forex brokers Malaysia, just implemented MetaTrader 5, and cryptocurrency traders now have access to Bitcoin, Ethereum, and Litecoin trading.
|Regulated By||FCA, FSA, SC, CySec|
|Best For||Best for Active and VIP Traders|
|Tradable Assets||Currency Pairs, Stocks, Indices, Oil, Metals, Bonds, & Cryptocurrencies|
In addition to the FCA, Tickmill is the best forex broker in Malaysia and regulated by the FSA, SC, and CySec. Tickmill has the lowest spreads, low trading fees, various account types, copy trading, and no requotes, making it a good place to trade.
There are no fees for deposits or withdrawals. Tickmill offers innovative and engaging incentives, including trader of the month prizes and NFP machine contests. It also offers novice Islamic traders a danger-free $30 demo trading Islamic account. This incentive allows Malaysian traders to trade as if they were using their own money.
However, Tickmill is a great choice for newcomers with its $30 free bonus and a $25 minimum deposit. There are regular webinars for Malaysian brokers in several languages. It also provides video tutorials on how to deal in fx with trading conditions, risks involved, and the use of mobile trading platforms..
Tickmill is a very new best forex broker, having been launched in 2014. However, Metatrader 4 and Website Trader are the only platforms available. Like the majority of retail forex brokers, it does not provide retail investor accounts to citizens of the United States.
Pros and Cons of Tickmill
|Tight spreads.||Limited base currencies.|
|Well regulated.||Outdated platform design and functions.|
|Fast and free withdrawals.|
|Wide range of tradable assets.|
- No deposit or withdrawal fees
- No account maintenance fees
- No inactivity fees
ICM Capital is a transparent online best forex broker in Malaysia and trading CFDs broker, ICM Capital takes pride in its deal execution. Since 2009, ICM has served both individual and institutional customers globally. The organization has offices in Africa, South America, and the Asia Pacific and is one of the market makers. Although, it is authorized and regulated by the Financial Conduct Authority (FCA) and the Financial Services Authority (FSA) of Saint Vincent and the Grenadines.
This Malaysia forex broker offers over 120 copy trading products on the MT4 trading setup on many account types to a Malaysian trader. ICM, a broker, claimed in its order of execution policy that it is one of the many brokers that use a combination of NDD and DDD trading (DD).
ICM Capital Features
|Best For||Best for Individual and Institutional Clients|
|Maximum Leverage||30:1 (For EU Clients); 200:1 (For Others)|
|Tradable Assets||Forex Currency Pairs, Stocks, Energy Future, Index Future, Metals, Indices, CFDs|
ICM is a multi-award-winning venture and one of the best forex brokers in Malaysia following regulations. It is regulated in several countries and meets all requirements. This best & regulated broker has also obtained additional insurance to protect its clients’ and reputation.
The provided MT4 trading platform is versatile and supports various trading methods. It works with the broker ICM’s ECN technology to stream raw lowest spreads starting at 0 pips. Trade execution is quick and flexible using MT4.
Trading Central’s study is commendable since it can help all traders find new trading possibilities. Customers from all around the world can use a variety of payment options offered by brokers.
Insufficient scope of the training facility to help a new trader become a professional Malaysian trader. It is free for clients who have a balance of $4,000 or more, which is a lot more than other forex brokers provide. ICM may also try to build its own proprietary platform. The broker also does not utilize social trading…