List of Forex Brokers in Malaysia – Compare Top Platforms for Local Traders (2025 Edition)
Written by Akash Khanna
Edited by Samuel Black
Fact-checked by Lisa Khan
Last Updated – 21 May 2025
Looking to trade forex in Malaysia? This 2025 list of forex brokers in Malaysia, compares some of the best forex brokers available for Malaysian forex traders. We cover everything from regulation, MYR deposits, and Islamic accounts to platform features and withdrawal speed. Learn how to choose a broker, and what red flags to avoid. Whether you’re a beginner or a seasoned trader, this article helps you trade smarter and safer in the Malaysian forex market – brought to you exclusively by BrokersinForex.com
- Forex Trading in Malaysia
- Are Forex Brokers Legal in Malaysia?
- List of Forex Brokers in Malaysia (2025 Edition)
- Top 5 Forex Broker Reviews in 2025
- How did we at BrokersinForex Select The List of Best Forex Brokers in Malaysia for 2025?
- How to Choose the Right Forex Broker in Malaysia
- FAQs About Forex Brokers in Malaysia
- Start Trading Forex with Reputable Forex Brokers in Malaysia
Forex Trading in Malaysia
Forex trading in Malaysia has gone from “apa tu?” to “bro, what’s your leverage setting?” in just a few short years. Whether you’re looking to earn extra income, hedge your investments, or simply love staring at candlestick charts like they’re art, one thing’s for sure – choosing the right forex broker is crucial. That’s why we at BrokersinForex.com took the painstaking effort to compile the best of the best forex brokers – with our much talked about List of Forex Brokers in Malaysia – 2025 Edition.
This listbreaks down the list of top forex brokers that welcome Malaysian traders with open arms (and hopefully, fast withdrawals). We’ve compared them based on key features like regulation, platform support, Islamic accounts, and whether they accept ringgit (because siapa suka hidden conversion fees?).
So let’s jump right into this and discover the list of forex brokers in Malaysia shall we?
Are Forex Brokers Legal in Malaysia?
Short answer: Yes, but with a couple of caveats.
Forex trading is legal in Malaysia, but only brokers regulated by the Securities Commission Malaysia (SC) are officially allowed to operate locally. That said, many Malaysians still trade with internationally regulated offshore brokers that accept Malaysian clients. These brokers are legal to use, but they aren’t overseen by SC Malaysia.
So, while you can trade freely, it’s still smart to stick with brokers that are licensed by respected authorities like CySEC, ASIC, or FCA and not listed on Bank Negara Malaysia’s Investor Alert List.
We recommend that you stick with our well-researched options in the list of forex brokers in Malaysia below.
List of Forex Brokers in Malaysia (2025 Edition)
The following are the list of top rated forex brokers accepting Malaysian located traders at the time of publishing this article in 2025 for quick reference.
| Broker | Regulation | Min Deposit | Max Leverage | MYR Support | Islamic Account | Key Features |
|---|---|---|---|---|---|---|
| Octa | CySEC, FSA | $25 | Up to 1:500 | ✅ | ✅ | User-friendly app, low spreads |
| XM | ASIC, CySEC | $5 | Up to 1:1000 | ✅ | ✅ | Bonus offers, strong support |
| FBS | IFSC, CySEC | $1 | Up to 1:3000 | ✅ | ✅ | High leverage, cent accounts |
| Exness | FCA, FSCA | $10 | Up to 1:2000 | ✅ | ✅ | Fast withdrawals, raw spreads |
| HFM (HotForex) | CySEC, FCA | $5 | Up to 1:1000 | ✅ | ✅ | Good tools, multiple accounts |
Top 5 Forex Broker Reviews in 2025
🌟 Octa – Best Overall for Malaysian Traders
Octa ticks all the boxes: solid regulation, MYR deposits, and one of the most user-friendly apps on the market. They offer both MT4/MT5 and their own streamlined mobile platform that even your makcik could figure out.
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Low spreads and low minimum deposits
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Local bank transfers accepted
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Free educational resources
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Islamic accounts (swap-free) available
Whether you’re scalping, swing trading, or just poking around the demo account, Octa makes life easier.
🍀 XM – Great for Beginners & Bonus Lovers
XM is like the buffet of forex brokers – there’s something for everyone. With a minimum deposit as low as $5, you can start trading with what you probably have in your eWallet right now.
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Regulated by ASIC and CySEC
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Massive education library and webinars
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Generous no-deposit and deposit bonuses
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Offers over 50 currency pairs
It’s an ideal pick if you’re still figuring out the ropes and enjoy getting rewarded with bonuses.
🚀 FBS – Best for High Leverage Traders
If you’re the kind who believes in “go big or go home,” FBS is your jam. With leverage up to 1:3000, it’s like trading on steroids – just remember to actually manage your risk.
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Cent and micro account options
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Accepts local deposits and MYR
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Islamic account support
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Offers MT4 and MT5 platforms
FBS also throws in cashback and loyalty programs for active traders. Not bad, kan?
⏳ Exness – Speed Demon of Withdrawals
Exness is the Usain Bolt of forex withdrawals. Many users report real-time fund withdrawals, which is a huge deal if you hate waiting 2-3 business days for your own money.
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Leverage up to 1:2000 (or even unlimited under certain conditions)
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Ultra-low raw spreads for pro traders
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Regulated by FCA and FSCA
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Excellent trade execution
If you’re impatient (like most of us), Exness will not disappoint.
✌️ HFM (HotForex) – Well-Rounded Choice
HotForex (now rebranded to HFM) is like that straight-A student who also plays sports and volunteers at the animal shelter. Balanced, capable, and popular.
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Competitive spreads
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Multiple account types
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Local deposit options
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Excellent educational tools
Solid choice if you want a mix of affordability, features, and support.
How did we at BrokersinForex Select The List of Best Forex Brokers in Malaysia for 2025?
At BrokersinForex.com – we employ a proprietary ranking method that’s backed by over 5 years of experience in conducting comprehensive broker analysis. We also take into account ver 300 ranking unique ranking criteria to provide you the list of top forex brokers in Malaysia for 2025.
When it comes to picking the list of top forex brokers for Malaysian traders, we don’t mess around. Our research team rolled up their sleeves, sifted through the fine print, and tested platforms like it was exam week. Here are some of the factors of what we actually looked for:
✅ Regulated and Reliable
First things first—we only considered brokers that are officially licensed and play by the global rulebook. Transparency and trust matter, especially when your money’s on the line.
✅ Localised Customer Support
Trading can get technical, and when that happens, you want help that speaks your language. Literally. So we filtered for brokers who offer Bahasa Malaysia support during local business hours.
✅ Halal-Friendly Trading or Islamic Trading (Swap-Free Accounts)
We made sure every broker on our list offers Islamic accounts—so if you need to trade without overnight interest (riba), you’re covered.
✅ MYR-Friendly Accounts
No one likes surprise currency conversion fees. That’s why we gave points to brokers that let you use the Malaysian Ringgit (MYR) as your base currency.
✅ Deposit & Withdraw in Ringgit
We double-checked that you can move money in and out of your trading account in MYR—because unnecessary conversions are so last decade.
✅ Wallet-Friendly Fees
Tight spreads? Low commissions? Minimal hidden costs? Yes, yes, and yes. We crunched the numbers to make sure you’re not overpaying to trade.
✅ Account Variety & Strategy Flexibility
Some brokers only give you a one-size-fits-all setup. Not cool. We looked for those offering multiple account types and tools to suit both beginners and strategy-loving pros.
✅ Top-Tier Trading Platforms
A good platform should feel like second nature. We selected brokers that balance simplicity for newbies with the power features pros expect—from MetaTrader to mobile apps.
✅ Learn & Trade Smarter
Whether it’s sharp market analysis or solid educational videos, we prioritized brokers that help you grow—not just trade. Knowledge is power, and we want you fully armed.
Rest assured, we followed a thorough and battle-tested review and ranking system developed exclusively by us over at BrokersinForex.com to assess what each broker does best—and where they fall short.
How to Choose the Right Forex Broker in Malaysia
Here’s your forex broker-shopping checklist in 2025 for choosing a forex broker in Malaysia:
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✅ Regulation – Choose brokers regulated by top-tier authorities like ASIC, CySEC, FCA, or FSCA. These licenses mean tighter oversight, higher capital requirements, and more protection for traders in case things go sideways.
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✅ Deposit/Withdrawal Methods – Look for brokers that offer FPX, Touch ‘n Go, and local bank transfers. You don’t want to wait days or pay hefty fees just to fund or cash out your trading account.
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✅ MYR Support – Trading in ringgit is not just patriotic – it helps you avoid conversion fees and rate fluctuations when depositing or withdrawing. MYR support = more value for your duit.
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✅ Islamic Account Option – If you’re a Muslim trader, a swap-free Islamic account ensures you’re trading in a Shariah-compliant way, without overnight interest charges. Most major brokers now offer this with no extra fees.
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✅ Platform Options – Whether you prefer MetaTrader 4, MetaTrader 5, or a mobile app, make sure your broker’s platform suits your trading style. Look for stability, speed, and ease of use.
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✅ Responsive Support – Ideally, your broker should offer Malay-language customer service during local business hours. Bonus points if support replies faster than your mamak waiter during peak hours.
Red Flags to Watch Out For
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❌ Guaranteed profits or “managed account” Ponzi schemes – If it sounds too good to be true, it is. Real brokers provide tools, not fairy tales.
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❌ Unlicensed PAMM managers sliding into your DMs – Just because someone shares screenshots of Lambos and MetaTrader accounts doesn’t mean they’re legit. Do your homework.
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❌ Withdrawal delays longer than your Raya balik kampung trip – If a broker makes it hard for you to withdraw your own money, that’s a massive red flag. Look for reviews and feedback from other Malaysian traders before funding.
Always check for real user reviews, verify licenses, and stick to well-known names. Forex is a legit way to trade the markets – but the shady characters hanging around it? Not so much.
FAQs About Forex Brokers in Malaysia
Q: Is forex trading legal in Malaysia?
Yes, forex trading is legal for individuals in Malaysia as long as it’s done with licensed entities. While the Securities Commission Malaysia (SC) regulates local brokers, many Malaysian traders use internationally regulated offshore brokers that legally accept Malaysian clients.
Q: Which regulator is most trusted when choosing a forex broker?
Top-tier regulators include ASIC (Australia), CySEC (Cyprus), FCA (UK), and FSCA (South Africa). These authorities ensure brokers follow strict financial rules, client fund segregation, and transparent operations.
Q: Can I trade with brokers not licensed in Malaysia?
Yes. Many Malaysians trade with offshore brokers like Octa, FBS, or XM, which are not licensed by SC Malaysia but are regulated internationally. Just make sure they’re not on Bank Negara’s Investor Alert List.
Q: What is the best forex broker for beginners in Malaysia?
XM and Octa are excellent for beginners. They offer low minimum deposits, easy-to-use platforms, free demo accounts, and extensive educational resources in both English and Malay.
Q: Can I open an Islamic forex account?
Yes. Most top brokers in Malaysia, including Octa, FBS, XM, and Exness, offer swap-free Islamic accounts that comply with Shariah law—no overnight interest, no hidden fees.
Q: Are there brokers that accept MYR deposits?
Yes. Many brokers accept Malaysian Ringgit through FPX, Touch ‘n Go, or local bank transfers, helping you avoid hidden currency conversion fees.
Q: What trading platforms do these brokers offer?
Most major brokers offer MetaTrader 4 (MT4), MetaTrader 5 (MT5), and their own custom mobile apps. MT4 is great for beginners and technical traders, while MT5 offers more advanced features and asset classes.
Q: Can I use Touch ‘n Go or DuitNow to fund my account?
Some brokers integrated with local payment providers support Touch ‘n Go, DuitNow, or FPX for seamless deposits. Check each broker’s deposit methods before signing up.
Q: What leverage is available for Malaysian traders?
Leverage depends on the broker, but offshore brokers can offer up to 1:1000 or even 1:3000. Use it wisely – high leverage increases both profit and risk.
Q: What’s the safest way to test a broker before depositing real money?
Open a demo account to try out the platform. Also, read independent reviews (like this one 😄), check licensing, and verify if the broker supports Islamic accounts, local currency, and fast withdrawals.
Start Trading Forex with Reputable Forex Brokers in Malaysia
Whether you’re a part-time trader moonlighting after your 9-5, or you dream of becoming Malaysia’s next forex legend, picking the right broker is where your journey starts.
This list of forex brokers in Malaysia presented above have proven track records, fair trading conditions, and support that won’t ghost you mid-withdrawal.
Ready to start? Compare, choose, and demo trade first. Or as we say in Malaysia, “try dulu, baru tahu.”