Looking for the best forex brokers in Malaysia in 2025? Whether you’re new to forex trading or an experienced trader, choosing the right broker is key to your success. In Malaysia, the forex market continues to grow, and with more traders joining in, it’s crucial to pick a broker that offers security, low fees, and reliable trading platforms. Plus, the Securities Commission Malaysia plays a big role in ensuring that the brokers you use are regulated and trustworthy.
In this guide, we at Asia Forex Mentor will highlight the top 5 forex brokers in Malaysia for 2025. We’ll help you understand their features, fees, and why they stand out. Whether you're interested in copy trading, tight spreads, or a user-friendly trading platform, we’ve got you covered. Let's find the perfect broker for you to trade forex with confidence!
How to Choose the Best Forex Broker in Malaysia
Choosing the best forex broker in Malaysia doesn't have to be confusing if you focus on the right factors. First, make sure the broker is regulated by a reputable authority like the Securities Commission Malaysia (SC) to ensure your funds are secure and forex trading is legal. Beyond that, understanding the fees involved, the quality of the trading platforms, and the types of accounts offered can help you make a smart decision. Here are the key factors to keep in mind:
- Regulation: Ensure the broker has a Capital Markets Services License from the Securities Commission Malaysia or is regulated by other trusted authorities.
- Trading fees: Check for commission-free trading options and spreads, which can affect your profitability.
- Trading platforms: Look for brokers offering reliable trading platforms like MetaTrader 4 or MetaTrader 5 with tools for algorithmic trading and copy trading.
- Account types and minimum deposits: Choose a broker that offers flexible trading account options, including low minimum deposits for beginners or advanced accounts for experienced traders.
- Customer support and local services: Strong support, especially with local offices or brokers in Malaysia, can make a big difference when problems arise.
- Mobile trading: Make sure the broker’s platform is mobile-friendly, so you can trade anytime, anywhere.
- Negative balance protection: Ensure that the broker provides safety measures like negative balance protection to avoid losses beyond your initial deposit.
- Demo accounts: Always look for brokers offering demo accounts so you can practice trading forex before risking your funds.
The 10 Best Forex Brokers in Malaysia
#1. AvaTrade: Best Overall for Traders in Malaysia
What is AvaTrade?
AvaTrade is a well-established and globally regulated broker, making it one of the top choices for traders in Malaysia. It offers a wide range of trading instruments, including forex, commodities, cryptocurrencies, and stocks, all accessible through popular platforms like MetaTrader 4, MetaTrader 5, and its proprietary AvaTradeGO app. One of the standout features is AvaProtect, a tool that helps manage risk by allowing traders to protect their trades from losses within a defined period. Additionally, AvaTrade supports Islamic accounts that comply with Sharia law, making it a great option for Muslim traders in Malaysia.
Advantages and Disadvantages of AvaTrade
Regulated by multiple financial authoritiesAvaTrade Commissions and Fees
In terms of fees and commissions, AvaTrade is highly competitive, offering commission-free trading on its Standard account with spreads starting as low as 0.9 pips for major currency pairs like EUR/USD. There are no deposit or withdrawal fees, which is great for cost-conscious traders. However, an inactivity fee of $50 applies after three months of inactivity, and a further $100 annual fee after 12 months of inactivity. With its transparent fee structure and favorable spreads, AvaTrade is a solid choice for traders of all levels in Malaysia.
OPEN AN ACCOUNT NOW WITH AVATRADE AND GET YOUR WELCOME BONUS
#2. Tickmill
What is Tickmill?
Tickmill is a highly reputable forex and CFD broker, making it a top choice for traders in Malaysia. One of the key reasons it stands out is its regulation by the Labuan Financial Services Authority (Labuan FSA), which ensures that it meets local regulatory standards, offering a secure trading environment for Malaysian traders. Tickmill provides access to over 60 currency pairs, stock indices, commodities, and bonds, and offers fast execution with high leverage up to 1:500. Its support for MetaTrader 4 and 5, along with features like negative balance protection and Islamic accounts, makes it an all-around favorite for traders seeking safety and flexibility.
Advantages and Disadvantages of Tickmill
Advantages
DisadvantageTickmill Commissions and Fees
When it comes to fees and commissions, Tickmill is highly competitive, particularly with its Raw account, which offers spreads starting from 0.0 pips and a $6 round-turn commission per lot traded. For traders preferring a simpler fee structure, the Classic account provides commission-free trading with spreads starting at 1.6 pips. There are no fees for deposits or withdrawals, and while there is an inactivity fee of $10 after a year of no trading, overall, Tickmill’s pricing is ideal for both beginners and high-frequency traders in Malaysia.
OPEN AN ACCOUNT NOW WITH TICKMILL AND GET YOUR WELCOME BONUS
#3. FP Markets
What is FP Markets?
FP Markets is a globally recognized broker, offering a comprehensive range of trading instruments like forex, commodities, indices, and shares CFDs. Known for its low spreads starting from 0.0 pips and fast execution speeds, it is especially appealing to both beginners and professional traders in Malaysia. The broker supports popular trading platforms such as MetaTrader 4, MetaTrader 5, and IRESS, providing flexibility for different trading styles. FP Markets is regulated by top-tier authorities like ASIC and CySEC, ensuring strong client fund protection, making it one of the most trusted brokers for Malaysian traders.
Advantages and Disadvantages of FP Markets
FP Markets Commissions and Fees
FP Markets offers two main account types. The Standard Account features commission-free trading with spreads starting from 1.0 pips, ideal for casual traders. For more active traders, the Raw Account provides tighter spreads from 0.0 pips, but with a $3 commission per lot per side. The minimum deposit is $100, making it accessible to most traders. This combination of low costs and high-quality service makes FP Markets a strong choice for those looking to minimize trading expenses while benefiting from advanced trading tools. FP Markets offers Islamic accounts for traders who adhere to Sharia law. These accounts are swap-free, meaning they do not incur or earn interest on overnight positions, which aligns with Islamic principles. The Islamic accounts are available for both Standard and Raw accounts, offering the same features without swap charges.
OPEN AN ACCOUNT NOW WITH FP MARKETS AND GET YOUR WELCOME BONUS
#4. IC Markets
What is IC Markets?
IC Markets is a highly reputable and globally regulated broker, making it one of the best choices for traders in Malaysia. Known for its fast execution speeds and low spreads, IC Markets provides access to over 60 currency pairs, commodities, indices, and cryptocurrencies. It supports popular platforms like MetaTrader 4, MetaTrader 5, and cTrader, which are perfect for both beginner and advanced traders. With no dealing desk (NDD) execution, IC Markets ensures transparent and direct market access, offering excellent conditions for high-frequency traders and scalpers. Its regulation by top authorities such as ASIC and CySEC further guarantees client fund safety, making it a reliable broker for Malaysians.
Advantages and Disadvantages of IC Markets
IC Markets Commissions and Fees
IC Markets offers highly competitive pricing. For the Raw Spread account, traders can enjoy spreads starting from 0.0 pips with a $3.50 commission per lot for MetaTrader users or $3 per lot on cTrader. The Standard account has no commission, with spreads starting at 0.8 pips. Additionally, there are no deposit or withdrawal fees, and IC Markets does not charge an inactivity fee, making it an affordable option for both active and casual traders in Malaysia.
OPEN AN ACCOUNT NOW WITH IC MARKETS AND GET YOUR WELCOME BONUS
#5. XM
What is XM?
XM is a well-established global broker known for offering a wide range of trading instruments, including forex, commodities, stocks, indices, and precious metals. It provides access to the popular MetaTrader 4 and MetaTrader 5 platforms, making it ideal for both beginner and advanced traders. One of XM’s standout features is its low minimum deposit of $5, which allows traders to start with a small amount of capital. With leverage up to 1:1000, depending on account type and region, and the availability of negative balance protection, XM ensures that traders can manage their risk effectively. XM’s strong regulation, including oversight by CySEC and ASIC, adds an extra layer of trust for Malaysian traders.
Advantages and Disadvantages of XM
XM Commissions and Fees
XM offers competitive pricing across its account types. The Standard and Micro accounts have commission-free trading, with spreads starting from 1 pip. For traders seeking tighter spreads, the Ultra-Low account offers spreads starting from 0.6 pips with no commissions. XM also supports Islamic accounts for swap-free trading, making it an inclusive option for all types of traders. Furthermore, there are no fees for deposits or withdrawals, though an inactivity fee applies after 90 days of no trading activity. These features make XM a cost-effective and accessible broker for Malaysian traders.
OPEN AN ACCOUNT NOW WITH XM AND GET YOUR WELCOME BONUS
| Rank | Broker | Description |
| 6 | Fusion Markets | Fusion Markets is renowned for its rock-bottom trading costs and direct ECN execution, making it a strong choice for Malaysian forex traders prioritizing fee savings. Regulated by ASIC, Fusion Markets offers full transparency, spreads from 0.8 pips, and commission-free options for classic accounts, as well as $4.50 round turn commission on Zero accounts. It supports MetaTrader 4, DupliTrade, and a proprietary Fusion+ copy trading platform, catering to both experienced and novice clients. The broker features highly responsive customer support and fast account setup, while withdrawal and deposit costs remain minimal. Fusion Markets also provides negative balance protection and a full suite of educational resources, plus easy native MYR currency options for locals. With a low $0 minimum deposit and flexible leverage, Fusion Markets delivers exactly what Malaysian traders need for simple, low-cost, and highly reliable forex trading in 2025. |
| 7 | BlackBull Markets | BlackBull Markets offers top-tier ECN infrastructure, tight average spreads (1.0 pips on EUR/USD), and individualized service for Malaysian customers. Regulated by New Zealand’s FMA and registered with offshore regulators, it maintains firm compliance and client fund safety standards. BlackBull Markets thrives with fast order execution, deep liquidity, and dedicated account managers for premium support. Spreads are some of the lowest among global brokers, and the broker supports MetaTrader 4, MetaTrader 5, and WebTrader platforms. It’s ideal for active traders, especially those using scalping or algorithmic strategies. Deposits and withdrawals process quickly, while choice of MYR base currency and Islamic accounts suit the local Malaysian market. The service may require a higher minimum deposit for advanced account tiers, but BlackBull is an excellent pick for those seeking direct market access and institutional-grade trading conditions. |
| 8 | Global Prime | Global Prime is celebrated in Malaysia for its strictly transparent operations, low spreads, and depth of market access. Regulated in Australia and Vanuatu, its high standards ensure secure trading and fund segregation for Malaysians. Global Prime features MetaTrader 4 alongside educational content and analytical tools for professional and retail traders alike. The broker’s “no dealing desk” model encourages fairness and reliability, while round-turn commissions are only $7 on raw accounts; standard accounts offer no commission. MYR-friendly fiat and Islamic account options are provided for Malaysian customers. It stands out for support responsiveness, fast trade execution, and robust internal controls. While its product list isn't as broad as multi-asset platforms and minimum deposits for prime accounts can be higher, Global Prime is perfect for Malaysian traders wanting industry transparency, fair pricing, and regulatory assurance. |
| 9 | easyMarkets | easyMarkets is a global brokerage delivering simplicity and fixed-spread reliability for Malaysian traders, with local regulation and competitive fee structures. With zero commission, fixed spreads from 0.7 pips, and robust regulatory backing, easyMarkets is a preferred choice for those valuing clarity and straightforward cost structures. The broker supports advanced web, mobile, and MetaTrader platforms, along with progressive features such as dealCancellation and Freeze Rate. Islamic swap-free accounts and MYR base currency enhance local relevance. The broker excels in risk management tools and offers extensive educational resources for beginners. While it may not cater to high-frequency or algorithmic traders as strongly as ECN brokers, easyMarkets is highly favored for its dependable pricing, mobile-flexible interface, and transparent operations in Malaysia. |
| 10 | FBS | FBS enjoys widespread popularity in Malaysia, thanks to its localized support, tight spreads, and accessible entry conditions (minimum deposits from $1). FBS is regulated by CySEC and IFSC, ensuring strong global security and compliance. Malaysian traders benefit from MetaTrader 4 and MetaTrader 5 support, as well as proprietary web/mobile platforms. FBS offers regular bonuses, cashback programs, and risk management tools, with swap-free Islamic accounts for Muslim traders. The broker accommodates scalpers and algorithmic traders, featuring leverage up to 1:3000 for those seeking higher buying power. Withdrawals and deposits are smooth, and the broker’s educational suite is tailored for new investors. Some advanced users may prefer platforms with deeper liquidity or lower commissions, but FBS stands out for friendly support, community engagement, and effective trading tools for the Malaysian market. |
How to Get Started with a Forex Broker in Malaysia
Starting your forex trading journey in Malaysia is pretty straightforward! Whether you're a complete beginner or have some trading experience, choosing the right broker and setting up your account properly can make all the difference. Here’s a quick guide to get you on track.
Step 1: Choose a Regulated Forex Broker
The first step is picking a broker that’s well-regulated. In Malaysia, make sure your broker is authorized by respected authorities, such as the Securities Commission Malaysia (SC). This ensures that your funds are protected, and the broker adheres to fair trading practices. Look for features like negative balance protection and low trading fees to make your experience smoother.
Step 2: Open a Forex Trading Account
Once you’ve chosen a broker, the next step is to open your trading account. You’ll need to provide basic details like your ID, proof of residence, and possibly some financial information. Many brokers offer different types of accounts, including standard, micro, or even Islamic accounts, which comply with Sharia law.
Step 3: Deposit Funds
After setting up your account, it’s time to deposit funds. Most brokers in Malaysia allow you to deposit using methods like online bank transfers, credit/debit cards, and e-wallets like Skrill or Neteller. The minimum deposit requirements may vary, but it’s common to start with as little as $100 or $200.
Step 4: Practice with a Demo Account
Before you risk real money, it’s a great idea to practice with a demo account. This allows you to get familiar with the broker’s trading platform and test out different strategies without losing any funds. Most brokers offer this option, and it’s a fantastic way to build confidence before jumping into live trading.
Step 5: Start Trading
Once you're comfortable, you can begin trading live! Stick to major currency pairs like EUR/USD or GBP/USD if you're just starting out. Keep an eye on your trades and make sure you have a plan in place. Most brokers provide access to helpful tools like technical analysis charts, market news, and more to help you make informed decisions.
Conclusion
Choosing the best forex broker in Malaysia for 2025 comes down to finding the one that aligns with your trading style and needs. Whether you’re looking for low spreads, advanced trading platforms, or strong regulatory oversight, the brokers we’ve discussed offer a range of features that cater to different levels of traders. Each of these brokers is well-regulated and provides competitive pricing, making them reliable options for both new and experienced traders. Take the time to explore their demo accounts and see which platform feels right for you. Your choice of broker can significantly impact your trading experience, so it’s worth investing the time to make the best decision.
Also Read: The 5 Best Forex Brokers in Philippines in 2025
FAQs
1) Is forex trading legal in Malaysia?
Yes. Trading forex with properly regulated brokers is legal. Many Malaysian traders use brokers regulated in top jurisdictions (e.g., FCA, ASIC) that accept Malaysian clients. Start with a vetted list here: Best Forex Brokers in Malaysia.
2) Who regulates forex brokers that accept Malaysians?
Malaysia’s market oversight is led by national regulators, while most retail FX/CFD brokers serving Malaysians are licensed abroad (UK, Australia, EU). To minimize risk, prefer well-regulated firms and avoid unlicensed entities; see Best Forex Brokers in Asia and why unregulated brokers are risky: Best Unregulated Forex Brokers (Warning).
3) How do I choose a safe broker in Malaysia?
Check regulation, segregation of funds, negative balance protection, fair fees, and reliable platforms. Use our due-diligence guide and shortlists: Best Forex Brokers in Malaysia and ECN Forex Brokers.
4) What trading platforms do Malaysian traders typically use?
MT4/MT5 dominate, with cTrader and TradingView integration growing. Compare options here: Best Trading Platforms in Malaysia, Best cTrader Brokers, and Best TradingView Brokers.
5) Do brokers offer Islamic (swap-free) accounts?
Most major brokers that accept Malaysians offer swap-free/Islamic accounts. Understand overnight charges first: What Is Swap in Forex?.
6) What is a good minimum deposit for beginners?
Many brokers start from $0–$200. Focus less on the minimum and more on costs, execution, and regulation. See beginner guidance: How to Start Trading Forex.
7) What fees should I expect (spreads, commissions, swaps)?
You’ll pay spread (and sometimes commission on ECN accounts), plus overnight financing and potential inactivity fees. Brush up on spread mechanics: What Does Spread Mean in Forex?.
8) Can I use ringgit (MYR) as my account currency?
Some brokers support MYR, but many default to USD/EUR/GBP. If MYR isn’t supported, consider a low-fee multi-currency wallet and check deposit/withdrawal FX rates. See platform comparisons: Best Trading Platforms in Malaysia.
9) What leverage is typical for Malaysians?
International brokers often offer 1:30 to 1:500 depending on regulation and account type. Manage risk first, leverage second: Risk Management in Forex.
10) Are Malaysian online banking and e-wallets supported?
Many brokers accept cards, bank transfers, and e-wallets; some support local rails via third-party processors. If you prefer e-wallets, cross-check compatibility and fees. For payments, see: Best PayPal Forex Brokers.
11) How do I verify if a broker is legitimate?
Confirm the license on the regulator’s website, match the broker’s legal entity name, and avoid pressure tactics. Red flags? Start here: Is Forex Legit? and see examples of scam warnings (for pattern recognition): Caveo – Scam Uncovered.
12) Is scalping or algorithmic trading allowed?
Most brokers allow scalping, EAs, and copy trading; a few restrict it. If scalping is critical, shortlist from: Best Forex Brokers for Scalping.
13) What’s the safest way to fund and withdraw?
Use the same method both ways, keep KYC up-to-date, and test a small withdrawal early. Avoid brokers known for delays; research reviews like: ThinkMarkets Review and TMGM Review.
14) Should I choose ECN/STP or Market Maker?
ECN/STP often means tighter spreads + commission and potentially deeper liquidity; Market Makers may have wider spreads but simpler pricing. Learn the models: ECN Forex Brokers.
15) Do brokers provide negative balance protection?
Reputable, well-regulated brokers typically do, but check the policy per entity/region. It’s a key safety net during volatility: Volatility Indicator Basics.
16) Are bonuses legal for Malaysian clients?
Depends on the broker’s jurisdiction. Many strict regulators limit bonuses/rebates due to conflicts. Focus on pricing and execution over promos.
17) Can I use copy trading or PAMM/MAM in Malaysia?
Yes, many brokers offer copy/PAMM/MAM. Still perform due diligence on strategy risk and drawdowns. For foundational skills first: Forex Trading for Beginners.
18) Do I need a VPS for automated trading?
A VPS reduces latency and keeps EAs running 24/7. It’s useful for scalpers and algo traders; otherwise, not mandatory. Compare platforms first: Best Trading Platforms in Malaysia.
19) What markets (beyond forex) can I trade?
Most brokers offer indices, commodities, metals, crypto, and stocks/ETFs as CFDs. If crypto access matters, compare: Best Crypto Brokers in Malaysia.
20) Are binary options legal and safe in Malaysia?
Binary options are high-risk and frequently tied to scams. If you explore them, stick to strict due diligence and regulated venues. Read: Best Binary Brokers in Malaysia (Caution) and binary options risks: Best Binary Options Brokers.
21) What documents do I need to open an account?
Expect KYC/AML: government ID, proof of address, sometimes source-of-funds. Keep scans clear and current to prevent withdrawal delays.
22) How do spreads work, and what is a “good” spread?
Spreads are the broker’s markup or market cost between bid/ask. “Good” depends on pair/liquidity; majors often <1.0 pip on ECN. Review: What Does Spread Mean in Forex?.
23) Is TradingView or cTrader better than MT4/MT5?
MT4/MT5 have broader EA ecosystems; TradingView excels at charting/social scripts; cTrader is strong for ECN. Choose based on your strategy: Best TradingView Brokers • Best cTrader Brokers.
24) What’s the best way to practice before going live?
Open a demo account to test execution and risk rules, then transition gradually. Use a structured plan: Trading Plan (How-To) and Risk Management in Forex.
25) How do I manage overnight risk and news events?
Use position sizing, stops, and awareness of rollover and high-impact events (NFP, CPI). Learn news trading basics: Trading Economic News.
26) Can I deposit/withdraw with crypto?
Many brokers accept USDT/BTC/ETH; check fees, network, and conversion steps. If crypto trading is key, compare: Best Crypto Brokers in Malaysia.
27) What are the risks of unregulated or offshore brokers?
Higher risk of fund loss, unfair pricing, and blocked withdrawals. See patterns in real cases to train your radar: Exposing Blafx and broader warning: Best Unregulated Forex Brokers (Read Before You Sign Up).
28) Are there Malaysian-friendly brokers with strong education?
Yes—many global brokers offer education hubs, webinars, and market analysis. Pair broker materials with AFM’s core guides: Forex School and Forex Trading for Dummies.
29) What’s the difference between market, limit, and stop orders?
Market fills now, limit sets a better price, stop triggers at a level to enter/exit or protect losses. Sharpen execution: Buy Limit vs Buy Stop.
30) Any tips for platform performance on mobile?
Use the broker’s native mobile app, enable 2FA, keep OS updated, and avoid public Wi-Fi. Compare mobile-ready platforms here: Best Trading Platforms in Malaysia.
31) Can I trade during work hours with a part-time approach?
Yes—many Malaysians run swing or end-of-day systems around core hours. Time-efficient methods: Trade Intra-Day (Full-Time Job?) and Swing Trading Strategies.
32) How do I avoid overtrading and emotional mistakes?
Pre-define setups, stick to risk caps, and keep a trading journal. Helpful reads: How to Avoid Overtrading and Trading Psychology.
33) What about taxes on forex profits in Malaysia?
Tax rules depend on individual circumstances and intent (trading vs. investing). Keep records and consult a local tax professional. Use a journal + statements from your broker for accurate reporting: Trading Journal.
34) Where can I see broker-specific pros/cons for Malaysians?
Dive into broker reviews and regional comparisons: • Best Forex Brokers in Malaysia • Reviews: ThinkMarkets, TMGM, Infinox Capital, InstaForex.
35) Final checklist before opening an account?
- Strong, recognized regulation
- Clear fees (spreads/commissions/swaps)
- Platforms you actually use (MT4/MT5/cTrader/TradingView)
- Funding/withdrawal options you trust
- Negative balance protection + segregated funds
- Transparent T&Cs on scalping, EAs, bonuses Start here: Best Forex Brokers in Malaysia.
