What is Spread in Forex?
Want to know what are low spread forex brokers in Malaysia? For most of the major brokers, the price originates from the interbank. These spreads are also known as the fractions of a pip (fractional pips). This is how a no-commission broker makes a profit in the business. The cost is developed from the bid price of each currency pair you trade, which saves from paying a commission fee per trade. There are chances where the broker advertises to offer the lowest spread but is more expensive.
The reason behind this is they charge a higher commission on the trade. Spreads are volatile and change during periods. Calculating the average spread data over a longer period (monthly spread data) and commissions (spread + commission) is better. This is the best way you can avoid the high average spreads.
List of 10 Best Low Spread Forex Brokers in Malaysia
Based on various research, the list of the top 10 best lowest spread forex brokers is listed. Below is the list of the top 10 best low spread forex brokers in Malaysia.
|S.No.||Forex Broker||Spread||Pips on Majors *||Established|
|3||FP Markets||Variable||from 1.4||2005|
|4||IC Markets||Variable||from 1.0||2007|
|9||Fx Pro||Variable||from 1.51||2006|
|10||Fusion Markets||Variable||from 0.9||2017|
*The Pip on major can change and depends on the account type.
Insights of best low spread brokers in Malaysia
Peppersone leads the list of the best lowest spread forex brokers. The company offers the tightest Forex Spreads and no commissions. The standard account offered by the company has low average spreads from 0.6 pips for the EUR/USD pair and no commission trading fees. On the other hand, the Razor account offers the spread from 0.0 – 0.3 pips + EUR 5,23 round turn per 100k traded.
Quick facts about Pepperstone
Pepperstone is one of the safest and most reliable forex trading platforms that many traders trust. It offers fast execution speeds and the popular Metatrader 4, Metatrader 5, and cTrader platforms. The customer service is best and quick.
The company majorly offers two account types for the traders. One is the Razor account, and the other is the Standard account. If you are a casual trader, the standard account is a great option as you don’t have to pay commission. Pepperstone, one of the best forex brokers in Malaysia with the lowest spread, offers competitive spreads for both the standard and ECN pricing accounts.
If you are a frequent trader, the razor account is a great option.
Ava traders are the second one on the lowest forex spreads in Malaysia. It is another excellent broker for active traders. They offer fixed competitive spreads of 0.9 pips with no commissions. One point to note about the company is the minimum deposit is $100 to open an account with AvaTrade. Moreover, they also offer access to their platform and both MT4 and MT5. The only con about them is the expensive inactivity fees.
3. FP Markets
The First Prudential (FP) Markets is another excellent example of the Lowest Spread Forex Brokers. They are one of the well regulated and most trusted forex brokers. The company offers consistently low spreads starting at 0 pips and averaging around 0.45 pips. Moreover, you will be offered access to a range of third-party platforms to choose from and an impressive selection of educational content.
The downside about the FP market is it does not offer services to US citizens.
4. IC Markets
IC Market is another example of the Low Spread Forex Brokers in Malaysia. It offered an average spread of 0.1 pips and has one of the best spreads offered on the list. IC Market is well known for its order execution, making it the top choice for scalpers and algorithmic traders. There are no deposit or withdrawal commission fees. The customer also gets powerful platforms, including cTrader and MetaTrader. The account offered by the IC market, Raw Spread Account, features zero spreads + commissions.
The downside of the broker is they have a high minimum deposit required to open an account.
Forex.com is another leading example for the top-rated Low Spread Brokers. It is another safer and more reliable platform for forex traders. The company offers customers access to 80 currency pairs. The spread is low, but the commission rate charged is $5 per standard lot. They are currently offering three premium platforms and the popular MT4 platform.
The cons of the broker are the inactive trader has to pay for the inactivity, and there is also a long waiting period for the verification.
Forex Time (FXTM) is another best broker for the forex, and it is one of the most reliable choices for both experienced and beginner traders. They offer many account types to select from, and the spreads start at 0.1 pips.
FXTM offers clients access to more than 200 markets, including the 48 currency pairs. They also stand out for providing the best customer service and educational tools.
The cons about the company is they charge high CFD fees. Also, they charge for the inactivity fees and withdrawal fees.
eToro is another leading example for the top rated Low Spread Forex Brokers. It is a safer and more reliable platform for forex traders. The platform offers trade across 49 currency pairs. The spread offered by e Toro is as low as 1 pip. The company is well known for its copy trading feature offered. Moreover, it offers its platform with over 15 million traders.
The cons of the broker are the inactive trader has to pay for the inactivity and the withdrawal fees.
IG is another leading example of the Lowest Spread Forex Brokers in Malaysia. The spread is the way IG makes all the profit. They charge a specific commission fee on the trade, which is only added to either side of the market spread, and there is an actual commission for every share-CFD trade. Moreover, it provides a premium for guaranteed stop-loss orders. The minimum spread offered by the company is 0.8 pips.
The disadvantage of using the IG is the customer support services are slow.
Fx Pro is an experienced lowest forex spreads broker, started in 2006. The platform has executed more than 250 million. It offers spread as low as zero pips on some pairs and an average of 0.45 pips. The minimum deposit is around $100, and their low-cost spreads are offered as both fixed and floating. Moreover, it offers the MT4 platform to trade.
The platform’s downfall is that the commission charges are higher, around $9.
10. Fusion Markets
The last one on the list of the best lowest spread brokers is Fusion Markets. They are well known for their lowest-cost trading services. Moreover, the platform offers at least 0.00 spreads on varying currency pairs. Such currencies are AUD/CHF, AUD/CAD, AUD/NZD, AUD/JPY, and AUD/USD. The average spread is around1.01, 0.48, 0.65, 0.22, and 0.92. The commission charged on the trade is also less than other brokers.
The downside of the broker is they offer basic educational tools.
Conclusion – Low Spread Forex Brokers in Malaysia
In conclusion, this article has covered the top 10 low spread forex brokers in Malaysia that are available in the market and their services. Each broker has an almost minimum of $1 pip. If you want to invest with any brokers and are looking for the right recommendations to trade in bursa Malaysia, visit us for the best advisory services now.