Forex Broker Malaysia 2020 Comparison

IC Markets 10/10 – Lowest Spreads FX Broker

IC Markets is one of the most popular fx brokers in the broader Pacific region, offering access to over 60 currency pairs as well as a range of Contracts for Different (CFDs). The low fee broker’s Raw Spread and cTrader accounts charge flat-rate commissions lower than most top forex brokers while giving clients’ access to spreads as low as 0.0 pips.

IC Markets ECN-Style Raw Spread Account

Diverse top-tier liquidity providers give IC Markets customers’ access to institutional-grade trading and reduced slippage. Offering an ECN-type trading environment, the forex broker is a low-cost option with spreads starting as low as 0.0 pips. When trading under a Raw Account, a standard commission fee of $3.50 USD is applied to each lot of 100,000 units, as a result, IC Markets is an excellent platform for high-volume Forex traders, Expert Advisors (EAs) and Scalpers. As well as low trading fees, the top broker charges minimal trading fees that keep forex costs down. No fees are incurred for deposits and withdrawals, while traders can leave their trading account idle for any length of time and avoid inactivity fees.

Spreads with IC Markets RAW accounts are some of the tightest you can find. This is because IC Markets use ECN pricing.  Instead of the broker widening the spread, IC Markets charges a commission. Commission trading is usually cheaper than Spread only trading when it comes to forex.

IC Markets Raw Account Spreads	EUR/USDGBP/USDEUR/GBPUSD/SGDAUD/USD	EUR/USDGBP/USDEUR/GBPUSD/SGDAUD/USD	EUR/USDGBP/USDEUR/GBPUSD/SGDAUD/USD	EUR/USDGBP/USDEUR/GBPUSD/SGDAUD/USD	EUR/USDGBP/USDEUR/GBPUSD/SGDAUD/USD
	0.10	0.40	0.40	0.30	0.20
	0.09	0.49	0.61	1.15	0.30
	0.13	0.51	0.48	1.39	0.18
	0.20	0.50	0.40	1.50	0.20
	0.16	0.60	0.54	N/A	0.29
	0.20	0.60	0.50	10.00	0.40
	0.40	0.60	0.60	1.30	0.50
	0.40	0.70	0.60	1.80	0.70
	0.44	0.85	0.40	1.30	0.42

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In addition to the 60 currency pairs offered by IC Markets, customers’ gain access to a range of CFDs to diversify their trading strategies. The broker’s product range includes CFDs derived from Indices, Shares, Commodities, Bonds, Cryptos and Futures.

Why Trade Forex with IC Markets?

IC Markets is a leading forex broker accepting Malaysian clients’. The broker is regulated by ASIC (Australian Securities and Investments Commission), as well as the FSA (Seychelles Financial Services Authority) and hence seen as a trusted broker amongst the international retail investor community.

Traders using IC Markets to facilitate their fx transactions gain access to some of the most competitive spreads available to retail traders. When trading in IC Markets ECN-like environment, clients’ can place orders on forex pairs with spreads as low as 0.0 pips with very low trading and non-trading fees. For Malaysian retail investors wanting to gain access to institutional-grade pricing with NDD interference, IC Markets is an excellent top forex broker.

Demo Account >>Visit IC Markets >>

ThinkMarkets – Best Islamic Trading Account>

ThinkMarkets offers a commission-free Islamic Account Type for Muslim clients’ wanting to trade forex and CFDs. Commonly known as No Swap or Swap-Free Accounts, Islamic accounts comply with Sharia Law by charging swaps or interest for overnight or rolling costs

In place of swap fees, ThinkMarkets charge a weekly administrative fee if you hold your position for 7 days or greater. There are no fees for the first 6 days you hold your position. After 7 days, charges are made in 7-day increments with the following administrative fees per day:

When choosing an Islamic Account, you have the option of Standard account or ThinkZero account. Conditions for these accounts are exactly the same minus swap fees.

The Standard account has no commission and requires no opening balance. The ThinkZero account has commissions of $3.5 per side for each standard lot ($7.00 round-turn) but unlike the Standard account, there is a minimum $500 deposit.

Both accounts apply ASIC level regulation meaning a maximum 500:1 leverage is available.

Open a demo account >>Visit ThinkMarkets >>

Pepperstone – Best MetaTrader 4 Broker

For investors’ wanting to trade forex and CFDs on MetaTrader 4, Pepperstone is a tried and tested fx broker offering tight spreads and range of trading tools available. With Expert Advisor functionality and advanced analysis tools, Pepperstone clients’ can develop and execute complex trading strategies that include major, minor and exotic currency pairs, as well as a range of CFDs.

MetaTrader 4 and Pepperstone’s Trading Tools

MetaTrader 4 (MT4), provides traders’ with a highly customisable interface where advanced analysis can be easily conducted. The gold standard of forex trading platforms since its initial release by MetaQuotes in 2005, MT4 allows retail investors to access institutional-grade research and analysis tools within an intuitive interface. To assist with market analysis, MetaTrader 4 has built-in Autochartist features that include:

• Market scanner with probability filters
• Technical Indicators such as Wedges, Triangles and Tops and Bottoms
• Risk calculator based on backtesting
• Volatility Analysis to set stop-loss and take profits levels
• Daily Market Reports that explain trading opportunities and significant economic events

Pepperstone clients’ can code and develop Expert Advisors (trading robots) with the MQL4 MetaQuotes language. As well as the preinstalled trading tools available on the trading platform, additional add-ons can be downloaded from the broker’s website. Pepperstone’s Smart Trader Tools include 28 indicators and Expert Advisors to enhance the MetaTrader 4 trading experience. As shown below, Expert Advisors included in the Smart Trader Tools range from Correlation Matrix to Sentiment Traders to Stealth Orders.

MetaTrader 4 is available as a desktop platform (Mac and Windows), webtrader app or mobile trading apps. Mobile apps are compatible with both iOS and Android, ensuring traders can stay up to date at any time and place orders on the go.

ECN-Style Spreads + Low Fees

When trading CFDs and forex with Pepperstone on MetaTrader 4, clients can choose from two account types. The Razor Account provides traders with ECN-like spreads as low as 0.0 pips with a flat rate commission fee attached to orders. If customers’ are new to forex and prefer a simpler pricing structure, a Standard Account is a great option as it includes commission fees in the spreads, that average 1.0-1.3 pips for the EUR/USD currency pair.

The reasons why Pepperstone is able to offer traders’ using the Raw Account type an ECN-like environment are due to the brokers’ partnership with Equinix, No Dealing Desk (NDD) execution and top tier liquidity providers. Equinix’s data centre services buy and sell firms as well as institutions dealing in a range of assets such as stocks and derivatives. The proximity of Equinix’s servers’ to major players in the financial industry allows retail traders’ to access liquidity pools which were traditionally only offered to institutional investors’, and therefore better pricing.

For those wanting to gain experience or practise strategies prior to trading with real money, the free MetaTrader 4 demo account offered by Pepperstone is a great tool regardless of experience. Seasoned traders’ can test complex trading strategies and EAs without using real money, while those new to trading can build confidence. $50,000 of virtual funds are provided, with the trial account accessible for 30 days.

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FxPro – Best cTrader Forex Broker

FxPro cTrader provides traders with a professional trading environment where they can enjoy ECN-style pricing, advanced trading tools and ultra-fast execution. cTrader users’ can enjoy a user-friendly interface with a range of advanced technical analysis tools with over 50 different indicators. For those wanting to automate their trading, FxPro offers cTrader Automate, an advanced algorithmic coding application. Traders can build customised trading robots and indicators using the C# language and backtest algorithmic strategies against historical market data.

FxPro cTrader Commission Fees and Order Types

When using cTrader, FxPro customers’ incur a commission fee of USD $4.5 per 100k traded (slightly higher than competitors IC Markets and Pepperstone’s commission charges of USD $3.50). To manage the high risk of forex trading, FxPro clients can utilise a range of order types to assist in minimising losses. A Market Order executes a buy or sell order at the current market price while Pending Orders include Stop Orders, Stop Loss, Limit Orders and Take Profit.

FxPro cTrader Spreads

With No Dealing Desk (NDD) execution and diverse liquidity providers, cTrader users’ gain access to competitive bid and ask prices and full market depth when trading with FxPro. The brokers’ trading servers’ are located at London and Amsterdam’s Equinix Data centers allowing FxPro to access co-located liquidity providers such as top-tier banks.

Due to FxPro’s top-tier liquidity providers, retail traders can access an ECN-like environment with spreads as tight as 0.0 pips and most orders executed in less than 10 milliseconds. Minimum spreads of 0.0 pips are not limited to the EUR/USD fx pair. USD/JPY and GBP/USD currency pairs also can be as tight as 0.0 pips, yet average between 0.45-0.74 pips.

Although commission fees are higher than Pepperstone and IC Markets, FxPro is still considered a competitive forex broker internationally. The brokerage company is regulated by five different financial authorities around the globe, yet investor protection varies depending on the subsidy a trader is signed up. Regulators of FxPro include CySEC (Cyprus), FCA (UK), FSB (South Africa), SCB (Bahamas) and DFSA (UAE).

To learn more about FxPro, click here.

Open a demo account >>Visit FxPro >>

CMC Markets – Best Share + Forex Trading Platform

For those wanting to trade forex and shares, CMC Markets is a strong candidate owing to its market access to 300 major, minor and exotic currency pairs plus over 9400 ETFs and Shares.

Global Market Access

To start trading, prospective customers’ can register with CMC Markets through a CFD account. Spreads are as low as 0.7 pips with no commission (except for Share CFDs). No minimum deposit is required to start trading CMC Markets 9,500+ products. Traders’ execute orders on financial instruments ranging over 7 asset classes, including:

• 348 Currency Pairs
• 9405 ETFs and Shares
• 116 Indices
• 12 Cryptocurrencies
• 51 Treasuries
• 110 Commodities

Trading Platforms and Risk Management Tools

With CMC’s automated trade execution and risk management tools, traders can more easily profit from the Forex market while keeping their risk levels in check. CMC Markets global market offering is available to trade via the brokers proprietary platform, Next Generation or MetaTrader 4. For those new to CFD and currency trading, the Standard version of Next Generation is a suitable option, as the Advanced trading platform is designed for experienced investors’. In-built analysis tools include over:

• 115 drawing tools and technical indicators
• 12 chart types
• 70 chart patterns

Many CMC Markets clients’ prefer the Next Generation platform as it offers access to a larger number of asset classes than MetaTrader 4, as well as in-built news to keep updated with changes to global markets.

To start trading with CMC Markets, Malaysian traders’ can sign up to a demo account first, or register directly with the top fx broker.

To learn more about CMC Markets, click here.

Demo Account >>Visit CMC Markets >>

IG Markets – Best Range of Markets

Established in 1974, IG is a Forex broker with ample experience in the marketplace and a strong history of strong customer support. With over 15,000 underlying assets for traders to choose from, IG offers excellent trading versatility. These assets include Forex currency pairs as well as a diverse range of Contracts for Difference (CFDs).

Range of Markets

• Share CFDs (over 12,000 instruments with DMA)
• Forex
• Indices
• Cryptocurrencies
• Bonds
• Commodities
• ETFs
• Options
• Interest Rates
• Sectors
• Knock-out Options

Trading Platforms

Users’ can choose from a range of platforms when they start trading with IG Markets. The brokers proprietary webtrader platform provides a user-friendly interface, numerous indicators and charting features, as well as news directly from Reuters and Twitter.

For those wanting to trade through a desktop platform, IG Markets offers two options, MetaTrader 4 (MT4) and the brokers advanced proprietary platform. The advanced platform is designed for DMA Accounts, providing access to an ECN-like trading environment. In regards to MT4, the desktop and mobile platform allow for sophisticated analysis and order types. MT4 users’ have access to thousands of products, with the ability to go long or short in a range of markets.

Account Types

IG Markets clients’ can trade forex and CFDs via an Over The Counter (OTC) account, or a Direct Market Access (DMA) Forex Direct Account. When trading forex through an OTC Account, there are no commission fees, while a DMA account charges a $10 commission fee per $1 million traded.

To open a demo account with IG Markets, prospective clients’ are required to sign up to an OTC account.

Demo Account >>Visit IG Markets >>

FXTM – Highest Leverage CFD Broker

ForexTime (FXTM) is a top forex broker offering leverage that is significantly higher than its competitors. Although the broker offers a range of account types, to access the high maximum leverage traders are required to sign up to a Standard, ECN Zero or ECN account type. A Standard account offers fixed spreads from 1.3 pips that include commission in the spread, while ECN account gives traders access to ECN-like spreads starting from 0.1 pips with a commission fee of $2 per lot. When trading forex through these account types, FXTM clients can leverage positions up to 1000:1 on major currency pairs, 500:1 on minor currency pairs, and 200:1 on exotic currency pairs.

Leverage on Cryptocurrency products is also much higher than other top CFD brokers. On popular Cryptocurrency CFDs such as Bitcoin vs USD, Ethereum vs USD and Litecoin vs USD, FXTM traders can enter positions that are leverage up to 100:1, while the maximum leverage on Ripple vs USD is much lower at 10:1. Leverage of 100:1 on Crypto products is incredibly high compared to other retail CFD brokers that usually only offer 5:1. Yet, Malaysian traders’ should note that Cryptocurrency markets lack regulation and are very volatile, therefore trading Crypto with leverage comes with a high risk of losing money.

For Malaysian traders of Muslim faith, Standard, ECN and ECN Zero accounts are available as Islamic account structures where a flat rate is charged for overnight financing rather than interest. Yet traders’ open Islamic accounts should note swap-free accounts are only available with Forextime through MetaTrader 4.

Open a demo account >>Visit FXTM>>

eToro – Most Advanced Social Trading

With millions of traders from over 140+ countries around the world, eToro is the best copy trading broker offering an established social network. The network allows eToro clients’ to follow and copy trading strategies of experienced investors (‘Popular Investors’) that match their desired risk level. To find a Popular Investor that has similar trading objectives, users can view their trading history and assess the investors’ past performance and behaviour. When copying the strategies of popular investors, traders are not limited to Forex markets. eToro clients’ can follow different strategies based on a range of asset classes including Shares, Commodities, ETFs (Exchange-Traded Funds) and Indices.

Copyportfolios

As well as following a single Popular Investors’ strategy, eToro traders’ can invest in two different types of ‘Copyportfolios’ aimed to reduce risk through diversification.

• Market Copyportfolio: a bundle of asset classes and instruments based on a specific trading strategy (consists of shares, ETFs, forex, commodities and indices).
• Top Trader Copyportfoilo: a combination of strategies designed by eToro’s best performing long-term traders (focuses on stock trading).

Although funds can be withdrawn from Copyportfolios at any time, the asset bundles are medium to longterm investments and should be held for longer periods than standard forex or CFD orders. The minimum initial deposit required to invest in Copyportfolios is $5000, yet unlike many other top brokers portfolio management services, eToro charges no management fees.

Earning Bonuses as an eToro Popular Investor

Any member of the social trading network can become a Popular Investor and earn fixed monthly commissions when other traders copy their strategies. The cash rewards Popular Investors gain when allowing others to follow their strategies depends on the number of copiers they have. For instance, if 50 traders copy an investors trading strategy, the Popular Investor will receive $350 a month in bonuses. When a Popular Investor reaches eToro’s elite status, they receive a monthly rebate of 2% (of the funds they managed annually) as well as access to commission-free spreads.

To explore eToro’s copy trading features prior to trading with real money, a free demo account is available. The fully-functional trial account allows traders to research Popular Investors and practise copy trading.

Open a demo account >>Visit eToro >>