There are hundreds of forex brokers in the market; choosing the best one is time-consuming. This article covers the top 10 forex brokers in Malaysia. Forex trading is quite popular in Malaysia among the folks, and any international regulated broker can allow the Malaysian clients on board.
The extra benefit of these accounts is you hold a Capital Markets Services License (CMSL). This is issued from the Securities Commission of Malaysia (SCM). SCM is the financial regulatory body in Malaysia.
It is important to know about your broker to trade in forex. It would help if you focused on what you are looking for on the platform. What services do you want your broker to deliver and your expectations from a broker?f This article will cover the best forex brokers in Malaysia. From the list, you can choose the best one in the market.
This is the list of the Top 10 best forex brokers in Malaysia
● Saxo Bank
● Interactive Broker
● IC Market
● VT Market
The No. 1 on this list of Top 10 best forex brokers in Malaysia I.G. I.G. is one of the best forex brokers in Malaysia. The company was founded in the year 1974. This is a publicly-traded platform that comes with the six tier-1 jurisdictions regulation. It is one of the most trusted forex and CFDs brokers. The platform provides its customers with 19,000+ tradeable instruments. They also provide Commissions and Fees, Education, Mobile Trading, and Professional Trading.
They also offer meta trading and the premium meta trading added from the F.X. blue. There are only 76 tradable instruments available.
The least deposit in the platform starts from 250 U.S. Dollars (USD) or 300 Euros( EUR) and can go up to 2500 Swiss francs (CHF). This depends on the I.G. entity that you will choose to start a trading account, and this also depends on the country’s origin.
I.G. has established itself as a Global Leader in the online trading industry. This is a London-based public company listed on the London Stock Exchange’s FTSE 250.
2. Saxo Bank
Another best forex broker in Malaysia is Saxo Bank. The company Saxo Bank was founded in 1992 which operates many regulated banks. It is a six tier-1 jurisdiction. The jurisdictions make it one of the safest brokers (low risk) to trade in the forex and CFDs. The company requires a deposit of USD 10,000, GBP 500 for the U.K., SGD 3,000 for Singapore, and USD 3,000 for Australia. This amount is the sign-up or the entry-level classic account registration charges. The other accounts, like the VIP account, need USD 200,000 and 1,000,000.
Keeping aside the fact least deposit is high, the services are brilliant. They offer clients reliable customer service. Alongside they provide access to trading 40,000 instruments and excellent pricing. SaxoTraderGo is everything that you need from a platform to navigate the market.
3. Interactive Broker
Another best forex broker for beginners is Interactive Broker. The company Interactive Brokers was founded in 1977, and this is a listed company on (NASDAQ: IBKR). The company has a six tier-1 regulation which makes it a safe broker. Here is broker denotes the lower risk for trading in forex and CFD’s.
The platform is a bit complicated for inexperienced traders. The Interactive Broker raiders workstation (TWS) offers different advanced trading tools beneficial for season traders and professionals.
The mobile application IBKR comes with many features for traders. The U.I. is a bit complicated for the regular forex trader. Also, the MT (Meta Trader) is unavailable as an alternative option.
Interactive Brokers provides clients to trade from diverse selectin of Global Financial Market. The client can trade from stocks and options to futures and spot forex. Traders can access 125 markets in total across 31 countries. Also, the retail Spot forex is not available for U.S. residents.
The parent company of Forex.com is traded on (NASDAQ: SNEX). This is regulated in the four tier-1 jurisdictions, making it a safe platform for trading (low risk) in forex and CFDs.
The company has been awarded the best in class for its four core categories. The categories are Offering of Investments, Platform and Tools, Education, and Mobile Trading. There are various segments available to trade on the platform.
The company Forex.com was founded in the year 2001. It has gained its capital brand under the name of its parent company StoneX.
The company XTB was founded in the year 2002. It is one of the best forex brokers in Malaysia. It is a publicly-traded company that has regulation of one tier-1 jurisdiction. The jurisdiction makes it a safe broker (low-risk) for trading in forex and CFDs.
The XTB’s xStation is a platform that provides the best trading tools. It has excellent usability, advanced feature, and research on the market. They have wide options for cryptocurrency trading. The company has earned awards for No.1 phone support.
The company offers two accounts. One is a standard account, and the other is a Pro account. The company has a market capitalization of $546M. This is a publicly-traded platform listed on the Warsaw Stock Exchange (WSE: XTB.PL). Currently, they are serving around 200,000 clients globally.
The offices are settled around the globe, such as Europe, U.K.’s FCA, Poland’s KNF, Germany’s BaFIN, etc.
Another company on the list of Top 10 best forex brokers in Malaysia is Capital.com. The company Capital.com was founded in the year 2016. They have a current client base of over 1.8 million customers. The U.K. regulates the company by the Financial Conduct Authority (FCA). In Cyprus by the Cyprus Securities and Exchange Commission (CySEC). The Australian regulation is under the Australia Securities and Investment Commission (ASIC). Last but not least, in Belarus by the National Bank of Belarus.
Capital.com is known for its research quality, educational content, and web platform. The company offers less range of market compared to what others provide, and it manages to outperform the companies with an average rating.
The platform provides the clients with High-quality educational articles and courses. They have newsroom-grade research articles. Ample amount of video content for the market analysis.
7. IC Market
Ic market is one of the best forex brokers for beginners. The company is well known for its algorithmic trades from commission-based accounts. They have headquarters in New York (Equinix NY4) and London (Equinix LD5). They have been established as the best service provider for high-frequency algorithmic traders. The one who needs low latency and fast execution.
I.C. market was founded in 2007. To date, 0they have executed over 500,00 trades in a day. 60% is driven, resulting in a total volume of $15 billion daily.
The company regulates in the one tier-1 jurisdiction, making the platform safe and secure (average risk) for the one trading in forex and CFD’s. Various services provided on the platform are Third-party research and trading tool plugins. They have excelled in the low cost plus scalable execution, which is for the traders running algorithmic strategies.
The company Vantage was founded in the year 2009. The company started with MXT Global later rebranded itself as Vantage F.X. Pty Ltd in 2021. This company is a member of Vantage Global Prime Pty Ltd. The organization holds a license like the Australian Financial Services License (AFSL). Also, they have the license of the Australian Securities and Investment Commission (ASIC).
The company provides its trading services in forex and CFD’s; Meta Trader performs suite, which continues to many social trading platforms and a proprietary mobile app trading. Alongside this, they provide research and education.
They have the regulation of two tier-1 and one tier-3 jurisdiction. This makes it a safe and secure (average risk) platform to trade in the forex and CFDs.
Vantage ranks as the best meta trader broker in the year 2021, and it also got recognition for the best copy trading broker. The standard account requires a deposit of $10,000, and the Pro ECN account requires $20,000.
9. VT Market
The company V.T. market was bootstrapped in the year 2016. The company are situated in Sydney, and it is the subsidiary of the Vantage International Group (VIG). VIG (Vantage International Group) has regulatory status in U.K. and Australia, and this also includes many other jurisdictions.
They hold the one-tier-3 jurisdiction regulatory status. This makes it one of the safe and secure (average risk) platforms for forex and CFD trading.
They offer different platforms, such as Meta Trader 4 (MT4) broker. Also, they offer premium trading tools from Trading Central. The META TRADING 5 is also available on the platform.
Last but not least, another best forex broker in Malaysia is Eightcap. It is one of the best beginner-friendly forex brokers. The company Eightcap was established in the year 2009. The offices are situated in Melbourne, Australia. These are registered under the name Roco International Pty Ltd. They hold different licenses, such as the Australian Financial Service License (AFSL). They also have Australian Securities & Investment Commission (ASIC).
The Financial Conduct Authority (FCA) authorized and regulated the company. The market range offered by the company is small. Along with this, they offer research, education, platforms, and account offerings.
The company is regulated under the one tier-1 jurisdiction and one tier-2 jurisdiction. This makes it one of the safe and secure platforms (average-risk) for forex and CFDs trading. The company does lack in-depth categories such as research. There are a few articles for forex and CFD education.
The article has covered the best forex broker in Malaysia. Choose the broker according to the services you require related to the stock market. You can read our latest article about the best share market advisory service provider in Malaysia to know better what services you should expect your broker to deliver.