Forex trading is a very popular form of investment in Malaysia. This is due in part to the fact that Forex requires small initial deposits and allows for a slow and more cautious start.
But before even considering currency exchange investments, it’s important to find the right broker in Malaysia.
To make sure your rights as a trader are respected, as well as your money safe, it’s important to choose a regulated broker. In Malaysia, they may even be regulated by two different entities.
In Malaysia the regulatory body in charge is the Securities Commission of Malaysia (SCM), however, Malay residents are also allowed to use international institutions with regulatory bodies abroad.
Forex trading not only seems to be legit in Malaysia but also rather popular.
Choosing a Forex broker in Malaysia
Finding the best forex broker means making sure you are aware of your trading style, as well as your objectives and goals in the market. Your broker will have to support your trading needs and what is good for some may not be perfect for you. So, start by knowing your priorities.
In the case of Malaysia, the variety of brokers is even wider given there are also Islamic brokers that may be ideal for some.
Trading in Malaysia is legal as long as your broker is regulated by either a Malaysian institution or one of the accepted regulatory bodies around the world.
When considering a broker many aspects may be more or less important to traders. For example, usability, currency pairs, platform, mobile app, minimum deposit, customer service, etc.
Having clear expectations and a good idea of your trading style and priorities definitely helps to make the whole process of choosing a broker a much faster and successful one.
Once you narrow it down to a few brokers, a good idea is to check out reviews and detailed opinions from users, just to make sure you know what to expect.
Best Forex brokers 2021
We have listed a few of the best forex brokers in Malaysia. This list doesn’t include all the brokers available, but those that have made it higher in the ranking thanks to their features and services.
This broker is one of the most trusted in Malaysia thanks to a very high score in security features, as well as an interesting variety of currency pairs, fast execution, and low spreads. What is more, they have very modern mobile apps.
Pus500 offers really attractive spreads, as well as an interesting feature that guarantees that traders cannot lose more than what they have invested.
They have also earned a good reputation thanks to their customer service and the variety of languages and instruments available on their platform.
This broker is famous for its very low spreads and commissions, and it’s one of the favorite discount brokers in Malaysia.
They offer more than 60 different currency pairs too.
This broker is regulated by 4 different regulatory bodies, which makes them trusted, safe, and reliable.
They have been recognized thanks to their user-friendly and intuitive platform.
Markets.com has a long and reliable reputation and a good name in Malaysia. It’s one of the favorites among beginners thanks to the features they offer.
This broker also ranks very high in terms of security.