10 Best Forex trading apps in Malaysia

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Want to trade in Forex and know the best applications for Forex trading. Here is the complete list of the top 10 best Forex trading apps in Malaysia that give Forex traders a way to research, open and close trades from a mobile device. Talking about the features, the screen size can be fixed, but the functionality should be to the point. The forex trading application is always free, offering different functionalities and features.

Here the applications mentioned are judged based on their stability, execution speed, and functionalities to understand the experience a trader should expect when using the app.

Here is the complete list of the 10 Best Forex trading apps in Malaysia.

●    FXTM

●    OctaFX

●    Tickmill 

●    BDSwiss

●    AvaTrade

●    XM

●    IC Markets

●    HotForex

●    Eightcap

●    Pepperstone

1. FXTM

The FXTM trader app gives complete access to the range of CFDs, including Forex, spot metals, 180 company shares, commodities, indices, and cryptocurrencies.

This gives the benefit of closing a position in second. You can also easily get insight into live currencies rates, easily manage your trading account, and take an overview of your automated FXTM investment account.  

The application is compatible with both iOS and Android devices. It is well known for its copy trading execution which enables automated trading. The Copy-trading feature allows the user to invest and earn the following suitable strategies and profits.

Pros

●    Beginner-friendly application

●    Provides a deep knowledge of the share market

●    Well planned and regulated

●    They allow minimum deposits

●    One can easily follow copy trading

Cons

●    The withdrawals on the application are expensive

 2. OctaFX

The application OctaFX is one of the leading brokers that provide the services on all the three major platforms, MT4, MT5, and cTrader, across all mobile devices. It is well known for the range of options it provides to its clients, and they also have different options, such as the copy trading app for iOS and Android. 

There are multiple features on the platform. They provide detailed statistics on trading performance such as the profit amounts, floating profit, equity, percentage gain, and a breakdown of investment success. This is available with every Master Trader. Users who are into copy trading can stop the feature on their end manually at any time when they want to stop.

They have different offers and bonuses, for example, 50% first deposit booster and prize draw.

Pros

●    The platform has Fast and free withdrawals

●    You can easily follow the Copy-trading

Cons

●    It has a limited range of assets

●    Also, there are restrictive account types

3. TickMill

The application was founded in 2014 and offers its clients both MT4 and MT5 platforms across mobile devices.

Talking about their trading costs, the cost on the commission-free classic account is way higher than the usual average amount in the industry, on the other hand, the pro account has the spread down to 0 pips and has a commission of 4 USD, which is lower in comparison to most of the brokers.

The beginner who wants to start trading on mobile devices can opt for Tickmill, and it comes with a low 100 USD minimum deposit on both accounts. There is some loss in the functionality compared to the desktop trading platform, including the reduced time frame and lesser charting options.

For the experienced ones in the market who want to switch their broker, the Tickmill VIP account has a lower trading cost and a commission down to 2 USD round turn. The account is available before the one who has a minimum balance of 50,000 USD. The company offers various trading tools like AutoChartist, Myfxbook, and a subsidized VPS service.

Pros

●    The account offered comes with Tight spreads

●    The account is well maintained

●    It has free cash withdrawals, fast transactions

●    Offers a wide range of assets

Cons

●    You will find limited base currencies

4. BDSwiss

Another leading best forex trading application in Malaysia is BDSwiss. The application works fine for both Android and ios. The company allows complete access to 1000+ instruments that are fully synchronized with the BDSwiss wed trading platform and the BDSwiss MT4 Platform. You have access to the crypto assets, including the Bitcoin, Dash, and Ethereum pairs, 24/7.

The application comes with an opening position on every CFD asset available on the desktop MT4 platform. Also, the additional features to monitor market activity, access the account dashboard, and free deposits and withdrawals via 150+ methods. They also provide market analysis and education related to the stock market that can be easily accessible via the app. 

Pros

●    It comes with the tight spreads

●    Beginner-friendly application

●    Has a wide range of assets

Cons

●    It has expensive withdrawals

5. AvaTrade

Another best forex trading platform in Malaysia is AvaTradeGo, the best Forex trading app 2020. They provided a stable trading experience to their clients with features and were voted the Best Forex Trading App in 2020 at the Global Forex Awards. AvaTrade provides features like an advanced dashboard with intuitive management tools, clear charts, zoom for details, and a Market Trends feature to monitor trading trends within the AvaTrade community.

The platform allows the traders to purchase loss protection, a kind of insurance. Any losses during the running segment will be fully refunded, but the traders keep any gains in the AvaTrade protect scheme.

Pros

●    Beginner-friendly application

●    It is well regulated

●    It comes with the lower deposits

Cons

●    The customer care services are a bit of a hassle

●    Limited market analysis

6. XM

XM is another leading forex trading application also a well-regulated broker that supports the MT4, and MT5 XM is a well-regulated broker supporting MT4 and MT5 XM app. The platform has introduced three account types: micro, standard, and commission-based zero accounts. The commission-based account comes with tight spreads, with the EUR/USD starting at 1.6 pips on the Micro and Standard accounts.

On the other hand, the XM zero account has spread to 0.1 pips with 7 UDD round trip commissions. The application is beginners friendly which means you can easily find the education material and the research data from some of the best globally.

The platform is well known for its execution speed. Over 99% of trades are executed in less than a second with a 100% execution rate and no re-quotes or rejection of the orders.

Pros

●    This is a Well regulated platform

●    Beginners friendly comes with education on the share market

●    It comes with the assets wide range

●    Withdrawals are easy to execute, fast and free

Cons

●    Customer care services are a bit of a hassle.

7. IC Markets

Another well-known platform for forex trading is IC markets, an Australian ECN broker. The company offers two raw spread accounts and a standard account, and the spreads of each account vary on the MT4, MT5, and cTrader platforms.

The mobile application easily supports all trading platforms. If you are looking for the best options, then cTrader experience, IC Markets cTrader Raw Spread account is best. These are available on the IC Markets cTrader app for iOS, and Android supports.

The cTrader Raw spread account holds smaller commissions than the normal raw account, 3 USD per lot vs. 3.50 USD per lot. The spreads are down to 0 pip, 0.1 pip on the EUR/USD pair.

The application cTrader gives access to tight spreads, deep liquidity, and 24/7 customer service, and these are the main features the application is well known for. The application also provides the single-tap execution and a split-screen interface for tablets.

Pros

●    It is a Well regulated

●    You will get complete access to the

●    There are a wide range of asset to choose from

●    Beginner-friendly platform

Cons

●    You have to pay a High minimum deposit

●    Less market analysis data

8. HotForex

Hot Forex application is another best platform for forex trading in Malaysia. The application provides access to the financial markets and account access from one touch only. The application has introduced new features that include in-app fund transfers, advanced charting, HFcopy, and PAMM account access.

The Hot Forex application provides various analytical tools, including the daily market analysis from the broker experts. There are other listed tools like Trading Positions, a market sentiment tool, and Trader’s Board, a detailed look at the world’s markets. This complete analysis includes the volume indicators and live charts.

The application is full of great features; other features are the trading calculators, an economic calendar, and information on upcoming live webinars with reservation functionality.

This application is a dedicated section of PAMM Managers and Investors using the HFcopy account. Users can easily watch the investment status, allocated funds, and portfolio management. The client can interact with the experienced traders and copy their trading strategies which means they can easily follow copy trading.

Pros

●    You have to invest a minimum deposit

●    Easy access to Tight spreads

●    The application has the best UI and is Well regulated

●    Many account options to choose from

Cons

●    You will get the limited option for the base currencies

9. Eightcap

Eightcap is an ASIC-regulated, no-intervention market maker and is another leading platform for forex broking. This offers variable spreads and MT5 support for web and mobile devices. The mobile MT5 training account offers trading on selecting indices, commodities, and the US and Australian shares for additional support.

The trading of shares is available on the MT5 platform for mobile and desktop. The list includes the 250 of the largest US and Australian stocks. Along with these 250 share lists, big US tech companies like Tesla, Apple, Google, Australian majors like BHP Group, and Commonwealth Bank shares are also available here.

There are two account availability options available here. The first account is a commission-free account, and the other one is the raw account. Talking about the raw account, it comes with very tight spreads and a commission of 3.5 USD per lot. The options like EAs, scalping, and hedging are allowed on both accounts.

The features offered by the platform are 30 popular technical indicators among the traders, lines, channels, geometric shapes, Gann, Fibonacci, and Elliott tools, and 9 timeframes and 24 analytical objects.

Pros

●    It is a great platform for both beginners and experts

●    You will get complete access to the education material

Cons

●    There are very limited options available

●    There are no swap-free account options available on the platform

10. Pepperstone – Best Trading Platforms

Last but not the least, the best trading platform for forex trading in Malaysia is Pepperstone. The company is an Australian ECN broker, and they have been well known for their tight spreads accounts, ultra-fast trade execution. The platform provides full support for all major platforms like MT4, MT5, and cTrader, and the applications support both iOS and Android.

The trade execution on the platform takes less than 30ms, which is an ideal time for the process, especially for the scalpers and clients who run expert advisors. The application offers two market execution accounts that come with the tightest spreads in the market. The Razor account has a spread down to 0 pips for the EUR/USD and a 7 USD commission.

Pros

●    It is a well-regulated platform with a great UI

●    There is an availability of the tightest spreads

●    Great platform for both beginners and experts

●    You have access to a wide range of assets.

Cons

●    The market analytic data is less 

Conclusion

The article above covered the best trading apps in Malaysia. Multiple options are available for the forex broking application and choosing one best out of them is time taking. We have shortlisted the best in the market. You can choose the application according to your preferences and what you expect from the platform to deliver. Overall each and every application covered above has some pros and cons attached to it as mentioned you can choose accordingly. Also, you can check out the best forex brokers in Malaysia to get an overview of each broker who has introduced their applications.

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