Best Forex Brokers in Malaysia
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Searching for the best forex brokers in Malaysia? At FxDailyInfo, we review trusted global and local brokers that cater to Malaysian traders. This guide highlights top brokers, their trading conditions, and how forex is regulated in Malaysia by the Securities Commission Malaysia (SCM), so you can trade safely and with confidence.
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Regulation in Malaysia
In Malaysia, forex trading is regulated by the Securities Commission Malaysia (SCM), which oversees financial markets and ensures brokers operate within strict legal frameworks. SCM-licensed brokers must comply with capital requirements, client fund protection, and fair dealing practices. While many Malaysian traders also choose international brokers regulated by authorities such as ASIC, FCA, or CySEC, it’s crucial to verify licensing and compliance before opening an account.
Best Forex Brokers in Malaysia
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Fusion Markets
Fusion Markets has quickly carved out a strong position in the low-cost brokerage market, thanks to its low commissions, rapid and friendly customer support, and regulation by the Australian Securities and Investments Commission (ASIC). This ambitious broker, under the ownership…
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Pepperstone
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Headquartered in Australia, TMGM – officially known as Trademax Global Markets – is a forex broker that offers high leverage trading in popular forex pairs and CFDs based on commodities, stock indices, and a very large selection of thousands of…
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FXCM is a leading provider of online foreign exchange (FX) trading, CFD trading, spread betting and related services. Founded in 1999, the company’s mission is to provide global traders with access to the world’s largest and most liquid market by…
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RoboForex
RoboForex is an international brokerage company founded in 2009. It provides a wide range of trading services and products to both retail and institutional clients. With its headquarters in Belize and regulated by the International Financial Services Commission (IFSC), RoboForex…
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FINEX is a regulated forex broker that facilitates forex , commodity and stock index trading. It was founded in 2012, when there were already hundreds of thousands of transactions from all over Indonesia trading on financial assets on the platform.…
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Headway
Headway is a online broker based in South Africa and authorised and regulated by Financial Sector Conduct Authority, license number 52108. Headway offers the most common currency pairs to create a wide range of possibilities for trading. Choose among NASDAQ,…
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BelleoFx
BelleoFX, established in 2020 by industry experts, has swiftly grown into a prominent online trading brokerage. With a commitment to leveraging their expertise to enhance the financial markets, BelleoFX now operates a group of companies serving over 8,000 clients across…
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OnEquity
OnEquity, established in 2022 and headquartered on Mahé Island, Seychelles, has rapidly positioned itself as a CFD broker offering forex, indices, commodities, shares, and cryptocurrencies. The platform, accessible through the widely recognized MetaTrader 4 and MetaTrader 5, has attracted attention…
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Weltrade
Based in Saint Vincent and the Grenadines, Weltrade operates outside of major regulatory frameworks, exposing traders to potential risks. The broker’s asset selection is notably restricted compared to competitors, offering only a handful of forex pairs, commodities, metals, and cryptocurrencies.…
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Why Trade Forex in Malaysia?
Malaysia has a fast-growing community of forex traders, supported by strong financial infrastructure and global broker access. Traders benefit from diverse account options, Islamic-friendly swap-free accounts, and brokers that offer localized support in Malay and English. The country’s strategic position in Asia also means Malaysian traders enjoy competitive spreads and access to both global and regional financial markets.
Key Features to Compare in Malaysian Forex Brokers
When choosing a forex brokers in Malaysia, pay close attention to spreads and commissions, which directly affect your profitability. Leverage levels vary, with international brokers often offering higher ratios than local ones, though risk management is critical. The availability of trading platforms such as MetaTrader 4, MetaTrader 5, or proprietary apps can influence ease of use and advanced trading features. Many brokers also support Islamic accounts tailored for Muslim traders, ensuring Sharia compliance. Finally, check for local payment methods like online banking, FPX, and e-wallets, which make deposits and withdrawals faster and more convenient.
FAQs
Is forex trading legal in Malaysia?
Yes, forex trading is legal when conducted through licensed brokers regulated by the Securities Commission Malaysia (SCM).
Which authority regulates forex brokers in Malaysia?
The Securities Commission Malaysia (SCM) is responsible for regulating licensed brokers in the country.
Do Malaysian brokers offer Islamic (swap-free) accounts?
Yes, most international and local brokers serving Malaysia provide swap-free accounts for Muslim traders.
What is the maximum leverage available in Malaysia?
Leverage depends on the broker. SCM-regulated brokers may limit leverage, while global brokers often provide higher options up to 1:500 or more.
Can Malaysian traders use international brokers?
Yes, many Malaysian traders use global brokers regulated in other jurisdictions, but it’s important to choose only well-regulated and reputable companies.
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