Forex Trading In Malaysia - Top 10 Forex Brokers for Malaysia: Regulated & Trader-Friendly Picks

Malaysia has become a thriving center for financial activities in recent years, with a growing interest in forex trading among its people. As investors look to diversify their portfolios and tap into global currency markets, forex trading emerges as an accessible and profitable avenue.

In 2026, Malaysia's Securities Commission (SCM) doesn't directly license retail forex brokers, so most Malaysian traders use reputable offshore-regulated platforms (e.g., ASIC in Australia, FCA in the UK, or CySEC in Europe). These offer strong protection, segregated funds, and negative balance safeguards.

This guide helps you find the best forex broker in Malaysia. We offer top regulated picks (based on spreads, platforms, and user feedback), and tips to avoid scams. Whether you're starting with a small account or trading full-time, prioritise safety and costs.

Malaysia bans unlicensed local forex activity, but offshore brokers are widely used legally if they comply with international standards. Look for:

• Tier-1 Regulation: FCA (UK), ASIC (Australia), or CySEC (Europe) – these enforce strict rules, client fund segregation, and compensation schemes.

• Avoid Unregulated or Weakly Regulated: Skip brokers only licensed in obscure jurisdictions (e.g., Vanuatu or Seychelles alone).

• Labuan FSA: Some brokers hold Malaysia's offshore Labuan license, but it's limited—pair it with stronger regs.

  
  

A regulated broker reduces risks like fund withdrawal issues or manipulation.

Choosing a good forex broker is crucial for a successful trading experience. Here are some important criteria to consider when selecting a forex broker:

• Regulation and License: The broker has to be regulated by one or more reputable financial authorities. Regulation provides a level of protection for your funds and ensures that the broker operates with transparency and integrity.

• Security: Look for brokers that offer secure trading platforms and adhere to strict security protocols to safeguard your personal and financial information.

• Trading Costs: Consider the spreads, commissions, and other fees charged by the broker. Low trading costs can help maximize your profits, especially for day traders.

• Trading Platforms: A user-friendly and reliable platform with advanced trading tools can enhance your trading experience and efficiency. It would be better if it supports your language.

• Products: Check the range of financial instruments available for trading, including currency pairs, commodities, indices, and cryptocurrencies. A diverse selection allows you to explore different markets and trading strategies.

• Execution Speed and Reliability: Look for brokers that offer fast order execution and minimal slippage, especially during volatile market conditions. Reliable order execution ensures that your trades are executed promptly and at the desired price.

• Customer Support: Assess the standard and accessibility of the broker's customer support services. A responsive support team can swiftly tackle any trading issues or questions that arise during your trading time

• Deposit and Withdrawal: Examine the deposit and withdrawal options provided by the broker. Having a diverse range of payment methods and swift processing speeds simplifies the management of your funds for greater effectiveness.

Here are the top 10 popular forex brokers currently operating in Malaysia. These brokers are highly rated for Malaysian users in 2026—offering demo accounts, Bahasa support, and fast Ringgit handling

Here’s an in-depth look at each of the top 10 forex brokers for Malaysian traders. Each profile includes a brief overview followed by key fees and features to help you compare quickly.

#1 Mitrade

Founded in 2011, Mitrade is an award-winning, user-focused broker that has quickly become a favourite among Malaysian beginners for its simple, all-in-one platform and strong mobile experience. Fully regulated by ASIC and other authorities, it prioritises ease of use, transparent pricing, and risk management tools—making it an excellent entry point for new traders in Malaysia.

Fees (Forex):

• Commission: Free.

• Deposit and withdrawal: Free (most methods).

• Spread: Floating (average 0.8–1.2 pips on majors).

• Swap: Depends on pairs (swap-free Islamic accounts available).

• Additional fees: None.

• Minimum deposit: 50 USD (~230 MYR).

• Leverage: Up to 1:200 (offshore retail).

Features:

• Regulation: ASIC (Australia), CIMA (Cayman Islands), and others.

• Products: Forex, commodities, indices, shares, cryptocurrencies.

• Trading app: Proprietary Mitrade app (highly intuitive) + web platform.

• Payment Methods: Credit/debit cards, bank transfer, e-wallets (fast for Malaysian users).

• Customer services: 24/5 live chat and email (Bahasa support available).

• Education resources: In-app tutorials, market analysis, risk tools, unlimited demo account.

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#2 XM

Established in 2009, XM has built a massive global presence with over 10 million clients, known for its ultra-low entry barriers, generous bonuses, and excellent multilingual support. It's particularly popular in Malaysia for Islamic accounts and local payment options, offering a reliable gateway for beginners and small-account traders.

Fees (Forex):

• Commission: Free (Standard/Ultra Low accounts).

• Deposit and withdrawal: Free.

• Spread: Floating (0.6–1.0 pips average on majors).

• Swap: Depends on pairs (swap-free on Islamic accounts).

• Additional fees: None.

• Minimum deposit: 5 USD (~23 MYR).

• Leverage: Up to 1:1000 (offshore).

Features:

• Regulation: ASIC, CySEC, FSC (Belize).

• Products: Forex, stocks, commodities, indices, cryptocurrencies.

• Trading app: MT4, MT5, XM app.

• Payment Methods: Local bank transfers, cards, e-wallets (including Malaysian options).

• Customer services: 24/5 live chat/phone (Bahasa and English).

• Education resources: Webinars, videos, seminars, daily analysis, demo account.

#3 Exness

Founded in 2008, Exness is renowned for its raw spreads, instant withdrawals, and high leverage—making it a go-to for cost-conscious active traders in Malaysia. With strong regulation and a focus on transparency, it processes billions in monthly volume and appeals to those prioritising speed and low costs.

Fees (Forex):

• Commission: Low on Raw accounts ($3–7/lot round turn).

• Deposit and withdrawal: Free (instant for many methods).

• Spread: Floating (0.0–0.3 pips on Raw accounts).

• Swap: Depends on pairs (swap-free available).

• Additional fees: None.

• Minimum deposit: 10 USD (~46 MYR).

• Leverage: Up to 1:2000 (offshore).

Features:

• Regulation: CySEC, FCA, FSCA, FSA (Seychelles).

• Products: Forex, metals, energies, indices, cryptocurrencies.

• Trading app: MT4, MT5, Exness Terminal.

• Payment Methods: Local banks, cards, e-wallets (instant options popular in Malaysia).

• Customer services: 24/7 live chat (multilingual).

• Education resources: Analytics, webinars, economic calendar, demo account.

#4 AvaTrade

Founded in 2006, AvaTrade has grown to become one of the leading online brokers globally, serving clients in over 150 countries. It is regulated in multiple jurisdictions, ensuring compliance with strict financial regulations and providing traders with a sense of security and trust—ideal for Malaysian users seeking fixed spreads and strong education.

Fees (Forex):

• Commission: Free.

• Deposit and withdrawal: Free.

• Spread: Floating (average 0.9–1.2 pips on majors).

• Swap: Depends on forex pairs (swap-free Islamic accounts).

• Additional fees: No.

• Minimum deposit: 100 USD (~470 MYR).

• Leverage: 1:30 (retail compliant).

Features:

• Regulation: ASIC, CBI, FSCA, CySEC, FRSA, FSA, and others.

• Products: Forex, cryptocurrencies, shares, options, indices, commodities, bonds.

• Trading app: MT4, MT5, AvaTradeGo.

• Payment Methods: Credit cards, debit cards, wire transfers, e-wallets.

• Customer services: 24/5 multilingual.

• Education resources: Sharp Trader academy, videos, eBooks, webinars, demo account.

#5 IC Markets

Founded in 2007, IC Markets is a true ECN broker favoured by professional traders for its raw pricing and lightning-fast execution. With deep liquidity and ASIC regulation, it's a top choice in Malaysia for scalpers and high-volume users who demand minimal slippage.

Fees (Forex):

• Commission: $3.5/lot (Raw accounts).

• Deposit and withdrawal: Free (most).

• Spread: Floating (0.0–0.2 pips on Raw).

• Swap: Depends on pairs.

• Additional fees: None.

• Minimum deposit: 200 USD (~920 MYR).

• Leverage: Up to 1:500.

Features:

• Regulation: ASIC, CySEC, FSA (Seychelles).

• Products: Forex, indices, commodities, cryptocurrencies, bonds.

• Trading app: MT4, MT5, cTrader.

• Payment Methods: Bank transfer, cards, e-wallets.

• Customer services: 24/7 live chat.

• Education resources: Tutorials, webinars, market analysis, demo.

#6 IG

Founded in 1974, IG is one of the world's oldest and most trusted brokers, offering premium research and weekend trading. Its ASIC and FCA regulation makes it a safe, sophisticated choice for Malaysian traders seeking in-depth tools and broader markets.

Fees (Forex):

• Commission: Free (standard).

• Deposit and withdrawal: Free.

• Spread: Floating (0.6–0.8 pips average).

• Swap: Depends on pairs.

• Additional fees: None.

• Minimum deposit: None.

• Leverage: 1:30 (retail).

Features:

• Regulation: ASIC, FCA, and multiple others.

• Products: Forex, shares, indices, commodities, options.

• Trading app: Proprietary IG platform, MT4.

• Payment Methods: Bank, card.

• Customer services: 24/5.

• Education resources: IG Academy, daily analysis, webinars, demo.

#7 Vantage

Founded in 2009, Vantage offers a balanced mix of low costs, copy trading, and strong education—making it popular among Malaysian learners and social traders. ASIC-regulated with raw spreads, it's versatile for various styles.

Fees (Forex):

• Commission: Low on Raw ($3/lot).

• Deposit and withdrawal: Free.

• Spread: Floating (0.0–0.4 pips Raw).

• Swap: Depends (Islamic available).

• Additional fees: None.

• Minimum deposit: 50 USD (~230 MYR).

• Leverage: Up to 1:500.

Features:

• Regulation: ASIC, FCA, CIMA.

• Products: Forex, indices, shares, commodities, crypto.

• Trading app: MT4, MT5.

• Payment Methods: Local transfers, cards, e-wallets.

• Customer services: 24/5.

• Education resources: Videos, copy trading, demo.

#8 FBS

Founded in 2009, FBS is known for high leverage, promotions, and accessibility in emerging markets like Malaysia. CySEC-regulated with generous bonuses, it attracts traders seeking aggressive positioning and rewards.

Fees (Forex):

• Commission: Free (most accounts).

• Deposit and withdrawal: Free.

• Spread: Floating (0.7–1.0 pips).

• Swap: Depends (Islamic available).

• Additional fees: None.

• Minimum deposit: 100 USD (~460 MYR).

• Leverage: Up to 1:3000.

Features:

• Regulation: CySEC, FSC (Belize).

• Products: Forex, metals, energies, stocks.

• Trading app: MT4, MT5, FBS app.

• Payment Methods: Local banks, e-wallets.

• Customer services: 24/7 multilingual.

• Education resources: Webinars, bonuses, demo.

#9 FxPro

Founded in 2006, FxPro is a professional-oriented broker with no-requote execution and advanced platforms. Strong regulation and precision tools make it suitable for experienced Malaysian traders.

Fees (Forex):

• Commission: Low on cTrader.

• Deposit and withdrawal: Free.

• Spread: Floating (0.4–1.0 pips).

• Swap: Depends.

• Additional fees: None.

• Minimum deposit: 100 USD (~460 MYR).

• Leverage: Up to 1:500.

Features:

• Regulation: FCA, CySEC, FSCA.

• Products: Forex, indices, energies, metals, shares.

• Trading app: MT4, MT5, cTrader, FxPro app.

• Payment Methods: Bank, card, e-wallets.

• Customer services: 24/5.

• Education resources: Videos, analysis, demo.

#10 XTB

Founded in 2002, XTB offers an award-winning proprietary platform with deep analysis tools and commission-free trading. FCA-regulated with strong education, it's great for Malaysian traders valuing insights and usability.

Fees (Forex):

• Commission: Free (standard).

• Deposit and withdrawal: Free.

• Spread: Floating (0.5–0.9 pips).

• Swap: Depends.

• Additional fees: None.

• Minimum deposit: None.

• Leverage: Up to 1:30 (retail).

Features:

• Regulation: FCA, CySEC, KNF.

• Products: Forex, indices, commodities, stocks, ETFs.

• Trading app: xStation 5 (excellent charting).

• Payment Methods: Bank, card.

• Customer services: 24/5 multilingual.

• Education resources: XTB Academy, daily market commentary, demo.

1. Research Regulation — Check the regulator's website (e.g., ASIC register).

2. Open a Demo Account — Test spreads, platform, and execution risk-free.

3. Verify Payments — Ensure easy MYR deposits/withdrawals.

4. Start Small — Fund minimally and use proper risk management (1-2% per trade).

5. Avoid Red Flags — Guaranteed profits, unsolicited calls, or pressure to deposit more.

For most Malaysian traders especially beginners, Mitrade offers the easiest start with low barriers and solid support. Compared to more complex platforms like MT4/MT5 brokers, Mitrade prioritises ease and mobility, saving time and reducing overwhelm.

Forex/CFD trading carries high risk of capital loss due to leverage. Remember to manage your risks effectively by setting stop-loss orders and adhering to your risk management plan. 

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Checking a forex broker's license is crucial to ensure that it operates legally and adheres to regulatory standards. Here are steps you can take to verify a forex broker's license:

#Step 1. Visit and check the broker's website

Go to the broker's website and look for information about their regulatory oversight. Find details about the regulatory authorities that supervise the broker's operations. Depending on the broker's location, this could be the Australian Securities and Investments Commission (ASIC) in Australia, the Cyprus Securities and Exchange Commission (CySEC) in Cyprus, or others.

For example, Access legal documents on the Mitrade website:

#Step 2. Visit the regulatory authority's website

Proceed to the official website of the regulatory authority that oversees the broker. Look for a section specifically related to registered or licensed entities.

#Step 3 Search for the Broker

Utilize the search function provided on the regulatory authority's website to locate the broker. You may be required to enter the broker's name or license number. I will show you how to search for Mitrade’s license on ASIC and FSC’s websites: 

https://asic.gov.au/

https://www.fscmauritius.org/en

#Step 4. Verify the License: Once you locate the broker, carefully review the license details provided. Ensure that the broker's name matches the information available on their website and promotional materials.

By following these steps, you can verify a forex broker's license and make informed decisions when choosing a broker to trade with. Remember that trading with a licensed broker offers greater protection for your funds and ensures a fair trading environment.

Malaysia operates within the GMT+8 time zone, aligning its regular trading hours with the key Asian financial hubs. It's important to note that forex trading is available 24 hours a day, five days a week, enabling traders in Malaysia to participate in the market at any time. However, trading volumes and volatility may vary across sessions, with the most significant opportunities often arising during the overlap of major sessions.

Therefore, it is generally considered that between 8:00 AM and 5:00 PM GMT (4:00 PM to 1:00 AM GMT+8), traders can expect ample liquidity, narrow spreads, and significant price fluctuations, making it an optimal period for active trading.

1 Is forex trading legal in Malaysia?

Yes, forex trading is legal in Malaysia. However, it is regulated by the Securities Commission of Malaysia (SC) and the Bank Negara Malaysia (BNM).

2 Is forex trading taxable in Malaysia?

Yes, income from forex trading is subject to taxation in Malaysia, and traders are required to report their trading profits as part of their total income for the year, with tax rates based on their income bracket. 

3 How can I stay updated with forex market news and analysis relevant to Malaysia?

You can stay updated with forex market news and analysis relevant to Malaysia by following reputable financial news websites, subscribing to forex trading forums, and utilizing trading platforms that offer real-time market analysis and commentary.

4 What are the risks of forex trading in Malaysia?

The risks of forex trading in Malaysia include market volatility, leverage amplification, liquidity challenges, regulatory changes, counterparty risks, operational disruptions, psychological biases, and country-specific events. Traders should employ proper risk management techniques to mitigate potential losses.

5 How does the interest rate set by Bank Negara Malaysia (BNM) affect forex trading in Malaysia?

Changes in the interest rate set by Bank Negara Malaysia (BNM) can influence the value of the Malaysian Ringgit (MYR) and impact forex trading conditions, including currency exchange rates and market sentiment.