Best Forex Brokers To Trade With in Malaysia for 2020

Forex Trading In Malaysia

Forex Brokers in Malaysia, one of the most emerging markets in South East Asia, are increasing as the country is showing great potential as a financial hub. Despite the fact that forex trading is no longer illegal in Malaysia, the concept is relatively new and the market is still very young. Officially, forex brokers operating in this country are not regulated. However, the Securities Commission in Malaysia oversees the exchange of traded products, including securities, futures and high leveraged products like forex.

Forex trading is not exactly legal in Malaysia, but is considered a grey area. Local residents are advised to trade with a broker who is authorized and regulated by the Securities Commission of Malaysia (SCM) – https://www.sc.com.my/

If you want to learn more about forex trading and how it works , click here to visit our Beginners Guide to Forex.

Featured Forex Brokers

We decided to do all the hard work for you and guide you through the all the noise of the financial betting market. Our team of expert analysts, has created a unique collection of forex broker reviews, based on various criteria and data points for you to choose from.

Markets.com

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Open Account

FPMarkets

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Open Account

Veracity Markets

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Open Account

CMTrading

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Open Account

XM

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Open Account

Forex Regulation in Malaysia

The Securities Commission of Malaysia (SCM) , is the regulatory body for all financial services and activities in Malaysia. The SCM is a national self-regulatory organization that was first established on 1 March 1993 under the Securities Commission Act 1993 , with investigative and enforcement powers. Nevertheless, it is not required to get authorization from the SCM in order to offer financial services and forex trading to the residences of Malaysia.

However, it is advised to choose a regulated broker with a Tier 1 license like Cysec, FCA, FSCA or ASIC to make sure your funds are protected.

Best Forex Brokers In Malaysia

Here is a breakdown of the best forex brokers to trade with in Malaysia:

  • XM – Low trading Cost, Islamic Account Available
  • FP Markets – Best Execution and trading conditions
  • GlobeX360 – Best Islamic Broker
  • IQOption – Best Performance Overall
  • Avatrade – Great Trading Platform. Good for new traders
  • Etoro – Best Copy Trading Platform
  • Octafx – Great Customer Support
  • OlympTrade – Best Mobile Trading App

Broker Comparison List In Malaysia

Methodology

All brokers listed on our website are regulated by at least one financial regulator and have never been reported as a scam. We analyze more than 3000 data points across 8 key focus areas. 

Our reviews are a combination of data research and working along side with the brokers. All information povided by the brokers are double checked to guarantee 100% accuracy and that we remain unbiased.

Read more about our methodology and how we do our tests and reviews here.