TOP 3 Forex Brokers in Malaysia [2021]

Entering such an exciting world such as the financial world is not difficult nowadays, no matter where or who you are. Thanks to modern IT tech It’s possible to achieve this goal and start investing by yourself in many assets, all you need to do is know where and how to do that.

That’s also the case for the increasing trader base in Malaysia, an emerging country with an active e prolific community of traders largely focused on the foreign exchange market.

Let’s see together our top 3 Forex brokers available in Malaysia in 2021.

1)    Instaforex

Our list starts with the most renowned FX broker already available in Malaysia: Instaforex.

Their astonishing collection of 19 awards won in Asia as “Best Broker in Asia” made them famous across the continent, and traders from all over Malaysia are starting to put their funds in the hands of this broker.

Instaforex is also very safe broker for investments, and there are many top tier regulatory bodies recognizing and regulating their brokerage services, such as:

• MFID-ESMA
• CySEC
• FSC (British)
• FCA

It also offers many bonuses for their traders depending on the account type selected (for a total of 6 different accounts). Those accounts have a minimum deposit which ranges from $1 up to $1,000 depending on account type.

Regarding the trading platforms available with an Instaforex account, they have implemented their services within some of the best platforms on the market right now to start trading Forex. These include:

• Mirror Trade
• Zulu Trade
• MT5 Desktop
• Proprietary Web Platforms

2)    OctaFX

As of today, OctaFX Malaysia is becoming the second largest Forex broker in the country.

Their fame came from an offering full of high level swap-free services unmatched by the competition, competitive fees,  and many recognitions such as the 2015 “Best Forex Islamic Account” by Forextraders.com.

They also have been well regulated by the top regulatory bodies internationally available during the last years, while enlarging their offer across the country. They possess licenses provided by:

• MFID-ESMA
• CySEC
• FCA

Their trading accounts start from a minimum deposit of $100 up to $5,00 for a Pro-account. When doing a deposit, OctaFX also accepts MYR and can be made without effort through local Malaysian bank, Billplz and Help2Pay services with a competitive exchange rate of 3 MYR per 1 USD.

Those accounts will enable traders to access to one of the trading platforms provided by the broker, such as:

• cTrader desktop
• cTrader web
• MT4 Desktop
• MT4 Web
• MT5 Desktop
• MT5 Web
• MAC Platforms

3)    XM

XM is an international top tier broker recognized on an international level now available also in Malaysia for Forex trading.

Because of their relevant position, they are also well regulated in the same way as the aforementioned competitors, and possess licenses within:

• MFID-ESMA
• ASIC
• CySEC

XM wide range of accounts include 6 different types, with the lowest minimum deposit at $5. If interested, you can also choose to open a shares account by investing in a minimum deposit of $10,000.

To deposit the required amount, you can opt to do it through a wire transfer, using a credit card or an eWallet. With all that being said, MYR deposits are not facilitated.

In case you would like to prove the broker’s offer in terms of trading system, you’d love to try-out the XM demo account, especially if you are on a novice level.

With a demo account you’ll have the chance of trading without worrying too much about making mistakes or hazardous decisions, but you’ll better choose wisely in order to gain maximum (learning) profit from it.

Trading platforms provided by XM are:

• MT4 Desktop
• MT4 Web
• MT5 Desktop
• MT5 Web
• MAC Platforms