Best Forex Brokers Malaysia

Best Forex Brokers Malaysia

There are many foreign licensed forex brokers who accept Malaysian traders, but you are trading with them is at your own risk as these are not licensed in Malaysia.

If they become insolvent, recovering your trapped funds can be near impossible, and any legal disputes will have to be resolved in court sittings outside Malaysia.

As such, it is advisable that you abstain from trading or only consider those forex brokers who have Tier 1 regulations from reputed regulatory bodies like the FCA – UK, ASIC – Australia, etc.

For educational research, HF Markets is a forex broker with good overall trading conditions & they accept traders from this region.

Best Forex Brokers in Malaysia

·       HF Markets -  Best Forex Broker in Malaysia

·       XM Forex Broker  - Forex Broker with Bonus for Old & New Clients

·       FXTM - FCA Regulated Forex Broker with ECN Spread Account

·       OctaFX - Forex Broker with Best Spread-Only Accounts (Standard Accounts)

·       IC Markets - Forex Broker with the Best Forex Trading Platforms in Malaysia

·       FxPro – FCA UK Regulated Forex Broker with cTrader

·       Tickmill - Best No Deposit Bonus forex Broker in Malaysia

·       AvaTrade - Forex Broker with Fixed Spreads

Note that the forex brokers compared in the listings below are not Bank Negara Malaysia Approved Forex Brokers, and are we have only researched them for educational purposes based on their popularity in the region & other factors.

Traders who are opening account with any foreign forex brokers must understand the risks involved.

We considered factors like Regulation, Account Type, Minimum Deposit, Leverage, Spread, Trading Platforms, Number of Tradable Instruments, commission, leverage, etc.

1.  HF Markets (Hotforex) - Best Forex Broker Malaysia

HF Markets (Hotforex) - Best Forex Broker Malaysia
HF Markets (Hotforex)

HF Markets (formerly Hotforex) is an online forex & commodities broker that caters to a wide array of traders from beginners to pros, and has sufficient customer support in English & the local language of Malaysia.

Note that HFM is not an approved forex broker in Malaysia. The account of traders in this region are registered under their foreign entity, which makes them risky.

HF Markets (SV) Ltd is the parent company and they do business under the "HFM" or "HF Markets" trading names.

The company was incorporated in Saint Vincent & The Grenadines (SV) in 2010. When you open a trading account, it is subject to the laws of Saint Vincent & The Grenadines.

HF Markets Group is regulated by 5 oversea regulatory authorities seated outside Malaysia.

HF Markets

HF Markets have their own proprietary HFM mobile app. You can also trade on MT4 & MT5 platforms which you can upgrade with the HF Markets Premium Trader Toolkit (available for download on the HFM website under the “Tools” tab)

HF Markets offer 5 trading account types, these are Cent, Zero, Premium, PRO PLUS, and Pro Accounts. You can trade CFDs such as Forex, Metals, Bonds, Indices, Cryptocurrencies, ETFs, Energies, & Stocks.

HF Markets minimum deposit is $5 for the Cent Account, $5 for the Premium Account, & $5 for the Zero Spread Account (these accounts may have a low minimum deposit, but they charge higher spreads from 1.2 pips and beyond).

If you seek lower spreads, then be prepared to pay a higher HF Markets minimum deposit of $100 for the PRO Account (here spreads from 0.6 pips) & HF Markets minimum deposit $250 on the PRO PLUS Account (here spreads start from 0.2 pips).

You pay both spreads and commissions on all HF Markets account types causing HF Markets to have a unique pricing structure compared to closest rivals.

On the Cent, Premium, PRO PLUS, & Pro Account types, Forex CFD, Commodity CFD, ETF CFD, & Bond CFD trading is commission-free, but commissions are applied when you trade other assets.

The HF Markets Zero Spread Account is for high-volume traders seeking near-zero spreads, but they pay commissions on Forex, Indices, Crypto, & Stock CFDs in exchange.

HF Markets commission levied on different CFD assets is

HF Markets commission

The maximum Leverage is 1:2000 for currency trading and can be lower depending on the asset class traded.  

HF Markets Pros & Cons

HF Markets Pros & Cons

2. XM - Forex Broker with Bonus for Old & New Clients

XM - Forex Broker with Bonus for Old & New Clients

XM Global Ltd is a member of the Trading Point Group based in Belize City. XM Group is also regulated by the Cyprus Securities and Exchange Commission (CySEC), and Financial Services Commission (FSC) Belize, & FSCA South Africa.

XM offers 3 different account types. The XM Micro Account is their entry-level account type with zero commissions, $5 minimum deposit, and permitting trading in micro lots.

The other accounts are the Standard, Ultra Low, & Shares Trading accounts and they come with moderately low spreads, Zero Commission (except Shares Account), and Negative Balance Protection.

The fees at XM are moderate. The lowest fees are on their Ultra Low Account. The average spreads with Standard Account for major pair EUR/USD are 1.6 pips, which is on the higher side. With the $5 minimum deposit XM Ultra Low Account, EUR/USD spread is 0.8 pips on average.

MT4 and MT5 trading platforms are provided with additional technical indicator plugins if you wish to upgrade.  The XM Trading Point Mobile App is also available on Google & Apple stores.

All XM accounts (except Shares Trading Account) come with a maximum leverage of 1:1000.

You can trade multiple CFDs including Forex, Crypto, Stocks, Turbo Stocks, Commodities, Equity Indices, Precious Metals, & Energies, on XM platforms.

XM also gives a bonus on deposits to old and new clients. This bonus can reach up to $5,000, you earn a 50% bonus to $500 and 20% bonus to $4,500. Once you make a deposit above $5 you qualify for a bonus, but XM ultra-low Accounts cannot get the bonus.

XM Pros & Cons

XM Pros & Cons

3. FXTM – FCA Regulated Forex Broker with ECN Spread Accounts

3. FXTM – FCA Regulated Forex Broker with ECN Spread Accounts

ForexTime Ltd (Trading name- FXTM) are a global Forex & CFD Broker operating out of Cyprus. FXTM is also a member of the global inter-broker Financial Commission Compensation Scheme.

FXTM regulation comes from the Financial Conduct Authority (FCA) UK, the Cyprus Securities and Exchange Commission (CySEC), FSC Mauritius, FSCA South Africa, & CMA Kenya. However Malaysian traders account are registered under the laws of Mauritius.

MT4 and MT5 are FXTM's Mobile, Desktop, and Web Trading Platforms. FXTM's proprietary trading platform, called FXTM Trader, is compatible with mobile, and it's available on Android and iOS.

With a $500 minimum deposit, you can trade with the FXTM Advantage Account, or Advantage Plus Account.

The Advantage Plus Account is a spread-only account type and charges high spreads with EUR/USD being 2.1 pips. The good thing about the Advantage Plus Account is that it doesn't charge commissions so it's more beginner friendly.

On the Advantage Account, commissions are up to $2 per side but can be lower when you trade high volumes. The Advantage Account also charges ECN type spreads which are narrow with EUR/USD average spread being 0.0 pips.

FXTM used to offer a Micro Account for small-sized trading, but this has been scrapped.

You can trade different CFD markets on ForexTime: Forex, Spot Metals, Commodities, and Indices with a 1:1000 maximum leverage.

FXTM Pros & Cons

FXTM Pros & Cons

 4. Octafx - Forex Broker with Best Spread-Only Accounts (Best Standard Accounts)

 4. Octafx - Forex Broker with Best Spread-Only Accounts (Best Standard Accounts)

Octa Markets (trading as Octafx) are a multi-asset CFD broker who are reguated by the Mwali International Services Authority (MISA).

Octafx has provided its self-developed trading terminal called Octatrader (available as a mobie app & web trader) for you to trade on.

Octafx has also provided mobile, desktop, & web versions of MT4 & MT5 as additional trading terminals & they are useful for alogorithmic trading with Expert Advisors (EAs).  

Octafx allows copy trading with MT4 Accounts only but you must read & understand the terms & conditions.

Octafx offers only Standard Accounts (spread-only Accounts) so they don’t charge any commissions. The accounts are Octatrader Account, MT4 Account, & MT5 Account.

Key facts about Octafx Accounts:

  • All Octafx Accounts are commission-free (spread-only accounts)

  • All Octafx Accounts have same minimum deposit requirement of $25

  • All Octafx Accounts have spreads starting from 0.6 pips minimum (you don’t get raw spreads).

  • The Octafx MT5 Account allows you trade the greatest number of instruments (252 CFDs)

  • You cannot trade Stock CFDs on Octafx MT4 & Octatrader Account types

When you open your preferred Octafx Account, you can access the markets and trades CFDs on Forex, Metals, Energies, Crypto,  & Stocks. Noticably absent are instruments like ETFs & Bonds.

Octafx Pros and Cons

5. IC Markets – Best Forex Trading Platforms in Malaysia

5. IC Markets – Best Forex Trading Platforms in Malaysia
IC Markets

Raw Trading Ltd (Trading as IC Markets) are a forex broker operating out of Seychelles.

IC Markets is regulated by the Financial Services Authority (FSA) Seychelles, CySEC Cyprus, SCB Bahamas, and ASIC Australia. However, Malaysian client accounts are registered under its entity in Seychelles, and they are not locally licensed.

IC Markets MT4 and MT5 platforms come with free MT4 upgrade tools which you can download from the IC Markets website.

cTrader platform is available with its modern interface. IC Markets also offers copy trading on the cTrader platform as well as through ZuluTrade (a third-party copy trading platform)

If you want to trade directly from interactive super-charts, IC Markets has partnered with TradingView a dedicated charting platform to let you trade on their platform.

IC Market accounts are: Raw Spread MT4/5, Raw Spread cTrader, and Standard Account MT4/5; all with a 1:1000 leverage, and $200 minimum deposit.  

Commission on the Standard Account is embedded in the spread received from liquidity providers. However, the MetaTrader Raw Spread Account commission is $3.5 per lot per side; while the cTrader Raw Spread Account commission is $3 per 100k traded.

You can trade Forex CFDs, Stocks CFDs, Bond CFDs, Digital Currency CFDs, Indices CFDs, Futures CFDs, and Commodities CFDs.

IC Markets Pros & Cons

IC Markets Pros & Cons
IC Markets Pros & Cons

6. FxPro – FCA UK Regulated Forex Broker with cTrader

6. FxPro – FCA UK Regulated Forex Broker with cTrader

FxPro Global Markets (Trading as FxPro), is a forex broker operating out of The Bahamas. Malaysian traders are registered under FxPro Group's Bahamas entity.

FxPro is regulated by the FCA UK, CySEC, FSCA, and The Securities Commission of The Bahamas (SCB).

MT4, MT5, and cTrader platforms are all available to trade on. The FxPro mobile app is its proprietary trading platform for mobile phones and is available online on app stores.

You can trade with an FxPro minimum deposit of $100 and up to 1:200 leverage, on any of the FxPro Standard, Pro, Raw+, or Elite Account types. types.

Commissions on the Standard Account is embedded in the spreads for different instruments, while the Raw & Elite accounts have $3.5 per side commissions ($7/lot round turn).

You can trade a wide range of CFD instruments on FxPro including Forex pairs, Indices, Futures, Shares, Metals, Energies, and Cryptocurrencies.

FxPro Pros & Cons

FxPro Pros & Cons
FxPro Pros & Cons

7. Tickmill – Best No Deposit Bonus forex Broker in Malaysia

7. Tickmill – Best No Deposit Bonus forex Broker in Malaysia

What is the meaning of a no deposit bonus? A no deposit bonus means Tickmill gives you money to trade without you making any deposit to open an account with them.

Do I qualify for the Tickmill no deposit bonus? Only new clients (excluding EU & UK citizens) can get the Tickmill no deposit bonus of $30 but note that to withdraw the profits earned from trading with the bonus, you must open a live trading account with Tickmill & deposit the $100 minimum deposit required.

The Tickmill bonus is not a scam, we have checked and confirmed that Tickmill is a regulated broker holding licenses from well-known regulators listed below.

  • Tickmill UK LTD is overseen by the Financial Conduct Authority (FCA) UK

  • Tickmill South Africa LTD is overseen by the Financial Sector Conduct Authority (FSCA) South Africa

  • Dubai Financial Services Authority

  • Tickmill Europe LTD is overseen by the Cyprus Securities & Exchange Commission (CySEC)

  • Tickmill Asia LTD is overseen by the Labuan Financial Services Authority Malaysia

  • Tickmill Global is overseen by the Financial Services Authority Seychelles

Does Tickmill offer a no deposit bonus?

Yes, Tickmill offers a Welcome Account also known as a no deposit bonus to new traders. This allows you to explore the live trading features without the risk of losing your money.

Fast Facts about Tickmill no deposit bonus

Fast Facts about Tickmill no deposit bonus

How much is the Tickmill no deposit bonus?

Tickmill offers a $30 no deposit bonus (Welcome Account) for new clients. The welcome bonus is available only in US Dollar currency.

Who is eligible for the Tickmill no deposit bonus?

The Tickmill no deposit bonus is available to new clients only who haven’t previously opened a live trading account with Tickmill. The bonus is available to new clients who are 18 years and above.

European Union citizens are not eligible for the Tickmill no deposit bonus

Do I need to make any deposit before I access the Tickmill no deposit bonus?

No, you don’t have to make any deposit before accessing the Tickmill no deposit bonus. This bonus is specifically designed to allow new clients to try out the Tickmill platform with the starting bonus provided by Tickmill.

It’s a free $30 bonus offered to new clients who register a new account, verify their details, and meet the eligibility requirements. The bonus serves as a starting point for new traders to explore and experience the various features and functionalities of the Tickmill platform, enabling them to gain insights and confidence in their trading journey.

What are the Terms & Conditions I should be aware of?

To access the no deposit bonus, you must comply with some terms and conditions.

1)  Registration and Eligibility

To register a Welcome Account, clients must be at least 18 years old. This ensures that participants are legally capable of entering into trading agreements and making informed decisions.

Only one Welcome Account is allowed per client, ensuring fair offer distribution among clients.

Existing clients are not eligible for a Welcome Account, as this promotion is designed for new clients who are exploring Tickmill’s services for the first time. This policy helps maintain fairness and prevents abuse of promotion by existing clients.

2) Account Creation and Access

Upon successful completion and approval of the registration form on Tickmill’s website, the Welcome Account is automatically generated for the client.

Login details are sent to the email address provided during registration, these login details are exclusively for accessing the Welcome Account and cannot be used to access the Client Area. This ensures the security and integrity of both the Welcome Account and the Client Area.

3) Trading Conditions

The Welcome Account will charge you commissions of $3 per side and raw spreads starting from 0.0 pips. These trading conditions are like what you get on Tickmill’s Raw Account.

While trading on the Welcome Account, usage of Expert Advisors or automated trading robots is prohibited.

Clients have the flexibility to adjust the leverage on the Welcome Account, allowing them to customize their trading experience according to their preferences and risk tolerance.

4) Bonus is non-withdrawable

No deposits can be made into the Welcome Account. The initial $30 bonus provided to clients cannot be withdrawn or transferred to another account. The Welcome Account is in USD currency.

5) Bonus Expiry

The Welcome Account remains open for trading for 60 days (about 2 months) starting from the date of its initial opening, during which traders can actively engage in trading activities. After this period, trading functionality will be deactivated.

The Welcome Account remains accessible for an additional 14 days (about 2 weeks), providing you with an opportunity to claim any accrued profits during the trading period.

How to get Tickmill no deposit bonus

·       Visit the official Tickmill website

·       Click on Promotions

·       Select the $30 Welcome Account

·       On the $30 Welcome Account page, fill in the necessary information and submit.

·       A confirmation email with login details and further instructions will be sent to you.

·       Download the Tickmill MT4 platform, if you have not done so.

·       Follow the instructions.

·       A bonus will be added after the application is approved.

How to withdraw Tickmill no deposit bonus

The $30 bonus cannot be withdrawn. Profits gotten from trades with the welcome bonus can be withdrawn. This enables you to manage your profits and engage in further trading activities. To transfer these profits from your Welcome Account, follow these steps:

·       Open a Standard or Raw Tickmill trading account and fund it with the minimum deposit of $100. Ensure your personal details are the same as those used to open the Tickmill no deposit bonus welcome account.

·       Ensure that the new live MT4 trading account is not linked to any other ongoing promotions, such as the Rebate Campaign. This helps prevent conflicts or complications during the profit transfer process and ensures a smooth experience for the client.

·       Email to request a transfer of funds from your Welcome Account to your Client Wallet. Specify that the transfer of profits should be directed to the same Wallet where the initial deposit was made. This allows you to access and manage your profits earned through trading on the Welcome Account, providing you with greater control over your funds.

Pros & Cons

Pros & Cons

8. AvaTrade – Forex Broker with Fixed Spreads

8. AvaTrade – Forex Broker with Fixed Spreads

Malaysian traders are registered under Ava Trade Markets Limited, a company regulated by the British Virgin Island Financial Services Commission (BVI FSC).

AvaTrade still has a glonbal presence and is regulated in Australia, Ireland, South Africa, Japan, Abu Dhabi, Cyprus, & Israel.

AvaTrade seems to have a platform for every activity: AvaSocial for copy trading, AvaOptions for trading FX Vanilla Options, & AvaTradeGO for trading CFDs.

The MT4/5 white label platforms are also available and AvaTrade MT4 has a Guardian Angel Tool designed to help beginners spot risky situations fast. You can download the Guardian Angel Tool from the AvaTrade website.

AvaTrade minimum deposit is $100 & it does not offer multiple account types to choose from, they just offer one account for every trader. This account comes with a top leverage of 1:400 and lets you trade in a wide range of markets.

  • Forex CFDs

  • Forex Vanilla Options

  • Share CFDs

  • Indices CFDs

  • Commodity CFDs

  • Crypto CFDs

  • Bond CFDs

  • ETF CFDs

AvaTrade does not charge you commission when you trade any asset class. AvaTrade spread is fixed, and the lowest spread is 0.9 pips.

There is an AvaProtect feature which requires you to pay a fee in exchange for protection. You are refunded for any lost trades on Forex, Gold, & Silver instruments.

AvaTrade Pros & Cons

AvaTrade Pros & Cons

How to Choose the Best Forex Broker in Malaysia?

1. Check the Forex Broker’s Licenses & their Status

Foreign retail forex brokers have been barred from doing business in Malaysia because the Securities Commission of Malaysia (SCM) have strict rules regarding currency speculation of any kind.

Many of the popular foreign forex brokers, including the ones in this list are not regulated in Malaysia.

Although forex trading is not illegal in Malaysia, but retail online forex trading using CFDs is not allowed. CFDs are the common and conventional method of trading forex among individual or retails traders.

However, some brokers have been approved to trade FX Futures, but not the general public. Rather, this is only open to corporate and institutional traders.

Phillips Capital and CGS-CIMB are the only two brokers that have approval from the Securities Commission of Malaysia to trade non-forex CFDs.

However, there are no locally regulated forex CFD brokers, and local retail forex traders generally trade via foreign brokers, and this is at their own risk.

If you insist on trading with foreign brokers, understanding the risks involved, you should be careful to only trade with those who have top-tier regulations.

How to check a forex broker license:

For example, HF Markets is regulated by the Financial Conduct Authority (FCA) United Kingdom (including other regulations).

To verify if HFM (which is our example broker, and it can be any other) is legit, visit the Financial Conduct Authority (FCA) website at to query the Financial Services Register. Its reference or license number is 801701

Type in the license number for HFM, or search by name. The result of your query should reveal confirmation of HFM details

HF Markets

A forex broker being regulated with Tier-1 & Tier-2 regulators only means that it is somewhat safe to trade with, but it does not mean that the broker is regulated in your local region.

For example, if a forex broker is licensed in the UK, then their investor protection is only valid for clients registered from that region. The clients from Malaysia or any other region don't get the same investor protection.

The forex brokers generally register their Malaysian clients under entities regulated by offshore regulations. This does not reduce your risk in any way, and local traders should avoid trading forex, until & unless there are some local regulations, and licensed brokers in your country.

2. Check the overall Trading Account Charges

You may want to consider brokers who charge low commissions. However, not all brokers charge commissions, and oftentimes such brokers charge high spreads to compensate for the commission-free service.

Spread, on the other hand, is the difference between the ask price and the bid price. It is advisable that you trade with brokers who take low spreads because a wide spread can eat into your profit.

For example, if you wish to go long on EUR/USD and the bid/ask price on the broker's website is 1.2230/1.2232, to buy the currency pair you pay the higher amount of 1.2232.

This means a spread of (1.2232 – 1.2230) or 2 pips or 0.0002 pip, so if you wish to trade 100,000 units of the currency pair, the broker makes (100,000 × 0.0002) or  $20.

Here is an example of live bid/ask spread at a broker on their MetaTrader 4 platform for major currency pair. The difference is 0.7 pips.

live bid

Trading on leverage also means taking a loan from your broker and depending on the interest rates of the currencies you are pairing, you will either be debited or credited every night your position is left open.

This nightly interest rate differential debit or credit can affect your final trading profits so ensure you ask for the nightly long and short swap rates.

3. Trading Conditions at the Broker's Platform

Before choosing a broker, you want to compare their trading conditions, like tradable Instruments.

You want to consider brokers who offer a wide range of instruments, as well as instruments that you have an interest in trading.

For example, if you want to trade XAU/USD (Gold), then check which brokers offer this instrument. You must remember that if you are trading 'Long' Gold at a CFD broker, you are speculating that the price of Gold will go up.

If you are using leverage to express your position, there is a high risk that you will lose very quickly. For example, if the XAU/USD instrument is trading at 18,000, and you trade 1 Mini lot ($18,000 exposure), but you only have let's say $180 in you account balance.

If the price of Gold goes down by even 1%, then you entire account balance will be zero. Moreover, you are required to pay overnight Swap fees for holding Long position on Gold.

Below screenshot is an example of a CFD contract at a broker. The contract mentions its size, tick value, margin requirements, stop-out levels etc.

CFD contract at a broker

Apart from that, there is also a Swap fees involved as seen in the screenshot below. These trading conditions may not be favourable for every trader.

Swap fees

For example, if you plan to hold Gold or a stock for long term, then CFDs via a forex broker is not the right option. There are excessive holding charges, which make the trading conditions very unfavourable.

Therefore, you should understand the risks involved depending on the type of trading you are doing.

If you are a high-volume trader who trades intraday, you may want to consider ECN brokers rather than market markers. This is because the fees can add up to a lot at the end of the month if your volume is in millions.

You also want to know the broker's execution method (whether Market or Instant), Margin Stop-out Rates, Leverage per Asset Class, Order Types, Expert Advisor  Compatibility, etc.

4. Payment Methods

Payment methods are another area of concern in Forex trading in Malaysia because CFDs and Forex trading exist in a legal grey area in the country.

Depositing and withdrawing using bank transfers can be risky, mainly because the banks may refuse to make transfers, when they notice that one of the parties is an unlicensed or a foreign licensed broker.

Many brokers allow local bank transfers in Malaysia, but you must note that you are working with these brokers at your own risk. Usually, bank transfers are processed within 1-2 days.

You should know that some brokers charge deposit and/or withdrawal fees. Such fees can be avoided by going with brokers that make deposits and withdrawals free.

You should also consider brokers whose deposit methods are instant. This way, when you have an urgent need to fund your account, it won't be an issue.

 5. Platforms + Mobile app

Trading platforms should be available on Mobile, Desktop, & Web. This way, regardless of your device, you can access your trading account.

The broker's mobile app should be compatible with iOS/Android, and support Two-Factor Authentication to avoid security breaches.

6. Customer Support

Your preferred broker should have customer service that is available at any time of the day and reachable through various means like live chat, email, call, etc.

A broker whose customer service is available in the local Malaysian language will be a plus; this way, language barriers will not be a problem.

Comparison of Forex Brokers in Malaysia

Comparison of Forex Brokers in Malaysia

What is a Forex Broker?

Retail traders use forex brokers to speculate on currencies. For example, if a trader has a theory that EUR/USD will go up due to lower interest rates in the EuroZone, then he/she can short the Euro against the US Dollar.

This is done by taking a position in lots where for every tick, the P&L moves. For example, if you have placed a 10 Standard Lot position, for every pip, the P&L is ± 100 USD.

Frequently Asked Questions – Forex Brokers Malaysia

What Is Forex Trading?

Forex trading is the process of speculating on the change in the exchange rate of two currencies with the intention to profit.

Anyone who wants to speculate on currencies must go through a licensed forex broker/dealer. It must be an entity regulated in the region, if not, you are trading at your own risk.

How to start Forex Trading?

  • Get a device with a good internet connection

  • Identify your preferred broker and open an account with them

  • Practice with the broker's demo account

  • Fund your trading account

  • Select your preferred currency pair to trade

  • Place your first trade and monitor it

What is the Best Forex Trading Platform in Malaysia?

MetaTrader 4 is regarded as one of the best and most popular trading platforms. However, its interface is not as updated as the new MetaTrader5 successor.

HF Markets, & XM Brokers are examples of brokers with the MT4 platform. XM even has the MT4 Multi-terminal which allows you open several MT4 trading accounts on one server, and trade with them simultaneously.

What is the Best time to trade Forex in Malaysia?

Best time to trade forex in Malaysia is between 3 PM and 11 PM, as this is the London session time and liquidity is high. Most currency pairs move during the NY & London sessions.

What are the Risks of Forex Trading in Malaysia?

Forex Trading for retail traders is not regulated, and no forex brokers are licensed to offer trading on currencies. Any trader who is trading forex in Malaysia, is doing at their own risk, and should engage with caution.

It is very risky to trade forex on margin through foreign licensed CFD brokers, as there will no local protection in case the broker is a scam or you lose money due to any reason.

It is best to not trade via foreign forex brokers until there is a local regulation for protection of retail forex traders.

What is the best Forex Broker for Beginners in Malaysia?

HF Markets & XM broker are the best forex brokers for beginners in Malaysia. They have low minimum deposits of $5, which doesn't let beginners' risk too much.

HF Markets & XM broker also have Cent & Micro Accounts respectively, which are mini-trading accounts with restrictions on order size and financial market exposure. These restrictions are good for beginners, so they don't risk too much.

HF Markets & XM broker also have Demo Accounts where beginners can practice how to trade with virtual funds, the trading conditions on a Demo Account mimic that of a live trading session except that there's an absence of emotions such as fear since your money is not at risk.

Which type of Forex Broker is the best?

If you are a casual trader trading small volumes, then a Market Maker broker may be good for you. If you are a professional & active high-volume trader, then an ECN broker is a good option.

Forex brokers like AvaTrade & XM are Market Makers, and they are best if you don't intend to trade in big volumes.

Market makers can speedily fill very small orders since they trade against you & control the liquidity, but they charge higher spreads.

Market Maker forex brokers make money from spreads and do not charge commissions that is why AvaTrade and XM don't charge commissions.

On the other hand, ECN brokers (Electronic Communication Network) such as FXTM, & IC Markets are best for active high-volume traders.

ECN brokers don't trade against you, instead they send your order directly to the interbank market using high speed computer networks, so you get charged a low spread, while they charge you a commission.

ECN brokers are best for filling large orders and not micro-orders, as the more volume you trade the more discounts you get on the commission.

ECN forex brokers make money from commissions, and they charge very tight spreads which are almost zero.

Which is the best forex broker for copy trading in Malaysia?

HF Markets & XM broker are the best forex brokers for copy trading because you beginners can copy trades using low minimum deposit Cent & Micro Trading Accounts, which is affordable.

They are also the best forex brokers for copy trading in Malaysia because you don't need to download a separate app for copy trading, you just use one app (their trading app) for everything.

Which is the best forex broker for algorithmic trading in Malaysia?

IC Markets & Tickmill are the best forex brokers for algorithmic trading in Malaysia because they offer Raw Spread Accounts (most automated trading programs work better with raw spreads).

IC Markets & Tickmill also offer MetaTrader support tools so you can upgrade your MT4/5 and add custom features suitable for algo trading.

Tickmill even has which is a tool where you ask Artificial Intelligence (AI) to build you a trading robot.

With Tickmill tool, you don't need to be an expert in any programming languages you simply send your command in English language and AI builds you a trading program.

Which is the best forex broker for short selling in Malaysia?

AvaTrade is the best forex broker if you want to short sell. AvaTrade allows you to insure your trades against losses if you agree to pay them a premium for the service which they call AvaProtect. Since short selling exposes you to unlimited upside risk, AvaProtect helps you hedge the risk.

AvaTrade is also good for short selling because they expose you to a wide range of financial markets from FX, Bonds, Stocks, Crypto, Commodities, and Indices etc. So, you can always hedge your exposure in one asset class by opening a position in another.

Warning to readers: short selling involves making profit when prices are falling & is a dangerous trading strategy and should be left to professional traders only. It exposes you to unlimited risk if the asset price begins to rise as there is no telling how high a price could rise.

Which is the best forex broker for Stock CFD trading in Malaysia?

Tickmill is the best forex broker in Malaysia to trade Stock CFDs with because they don’t charge commissions on stock trading, they provide the MT5 platform which is best for Stock trading & they offer you may ways to trade stock such as via Stock CFDs, Stock ETFs & Stock Indices.

Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.

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