The top forex brokers in 2025 for trading forex and CFDs in Malaysia are:

  • FP Markets - Best Forex Broker In Malaysia
  • Pepperstone - Top Broker For Forex Trading
  • IC Markets - Lowest Spread Forex Broker
  • Eightcap - Top Platform For Trading Crypto And Forex
  • ThinkMarkets - Top Forex Broker For Islamic Trading
  • FxPro - Good cTrader Forex Broker
  • IG Group - Great Range of Trading Platforms
  • FXTM - Highest Leverage CFD Broker
  • eToro - Most Advanced Social And Copy Trading
  • Octa - Good Swap Free account
Broker Review Our Rating Regulation Raw
EUR/USD
Spread
Raw
GBP/USD
Spread
Raw
AUD/USD
Spread
Commissions
(USD Base)
Standard
EUR/USD
Spread
Standard
GBP/USD
Spread
Standard
AUD/USD
Spread
MetaTrader 4 MetaTrader 5 cTrader Execution Speed Minimum Deposit Currency Pairs Crypto CFDs Retail Leverage Prof. Leverage Visit Broker
86 ASIC,CySEC, FSA-S
FSCA,FSC-M, CMA
0.10 0.50 0.30 $3.00 1.20 1.50 1.40 225ms $100 63 11 30:1 500:1 Visit Site
93 ASIC, FSA-S
CySEC
0.02 0.23 0.03 $3.50 0.82 1.03 0.83 134ms $200 61 23 30:1 500:1 Visit Site
98 ASIC, FCA, BaFin
CySEC, DFSA
0.10 0.20 0.10 $3.50 1.10 1.20 1.10 77ms $0 83 20 30:1 500:1 Visit Site
73 FCA, FSCA
ASIC, FSA-S, CySEC
0.11 0.40 0.30 $3.50 1.10 1.30 1.10 161ms $0 46 N/A 30:1 500:1 Visit Site
59 FCA, FSCA
CySEC, SCB, FSCM
0.45 0.52 0.57 $3.50 1.46 1.76 2.06 151ms $100 69 28 30:1 200:1 Visit Site
78 ASIC, FCA, FMA 0.16 0.59 0.29 $6.00 1.13 1.66 1.01 174ms $0 110 13 30:1 200:1 Visit Site
62 FCA, FSCA, CySEC
FSCM, CMA
0.1 2 0.5 $4.00 2.1 2.5 2.1 160ms $10 58 - 30:1 300:1 Visit Site
48 ASIC, CySEC, MFSA
FCA, FSA, FINRA
- - - - 1.0 2.0 1.0 130ms $200 (Australia), $50-$100 (EU) 49+ 93 30:1 400:1 Visit Site
96 FCA, ASIC
CySEC, SCB
0.06 0.23 0.27 $3.50 1.0 1.2 1.2 143ms $100 55 33 30:1 500:1 Visit Site
55 CySEC
MISA, FSCA, FSC-M
- - - - 0.90 1.40 1.70 81ms $25 35 32 1000:1 1000:1 Visit Site
 

Who Are The Best Malaysian Forex Brokers?

I tested more than 60 brokers, narrowing my list down to the 10 best forex brokers in Malaysia for 2025. The brokers on my list performed well in my tests, which examined things like trading costs, execution speed, swap-free trading account availability, and trading platforms. Below, I have outlined their best features for Malaysian traders, based on my findings.

1. FP Markets Good Broker With Solid Range of CFD Markets

FP Markets

Forex Panel Score

86

Average Spread

EUR/USD = 1.1
GBP/USD = 1.3
AUD/USD = 1.3

Trading Platforms

MT4, MT5, cTrader, TradingView, IRESS

Minimum Deposit

$100

Why We Recommend FP Markets

FP Markets scored 86/100 for its trading conditions and range of CFD markets. This range gives you a solid variety of assets, including 800+ share CFDs and 63 forex pairs, so you can trade popular markets like Amazon and EUR/USD.

You’ll also find that FP Markets offers low trading costs. Its Raw account averages 0.20 pip spreads on EUR/USD, with cheap commissions at $3.00 per lot traded. If you scalp, you’ll like that the broker gives fast market order speeds, reducing requotes and slippage.

Pros & Cons

  • MT4, MT5, cTrader and TradingView platforms
  • Leverage 1:500
  • ECN pricing and the lowest spreads
  • Social Trading with FP Markets Social and Myfxbook
  • Lacks specialised automation tools
  • Could offer more third-party tools
  • Average educational resources

Broker Details

Wide Range of Markets For Malaysian Traders

FP Markets offers a wide range of instruments for Malaysian traders, covering major markets from forex pairs to ETFs. Breaking their listings down, I found they offer 63 forex pairs – this isn’t the largest in range Malaysia, but it does cover the 7 major and 20+ minor pairs. So you’re not really missing out in my opinion.

I like that the broker offers 11 cryptocurrencies, giving you exposure to higher-risk assets. The 800+ share CFDs is a nice touch too, and includes popular companies like Apple. If you like to trade more niche products, you can access 13 commodities (across soft, energy, gold, and silver types), 46 ETFs, and 19 indices.

Low Standard Account Trading Costs

You’ll find that the trading costs are decent too. The Standard account factors the cost into the spread, which means slightly more pips but no commissions. These spreads were averaging 1.19 pips on the EUR/USD pair in our testing, which is competitive in Malaysia.

Standard Spreads Tested By Ross Collins
1.19 1.28 1.42 1.51 1.56

Avg. spreads are taken from each broker's website and updated monthly. Last update on 08/01/2025

I found that you’ll get tighter spreads through the broker’s RAW account, which averaged 0.20 pips on EUR/USD.

There is a $3.00 commission per lot traded, which is a good deal in my opinion. Not only are the spreads below the industry average, but the commission is roughly 15% cheaper than that of other brokers like ThinkMarkets.

BrokerUSD
FP Markets$3.00
Pepperstone$3.50
EightCap$3.50
IC Markets$3.50
ThinkMarkets$3.50
FxPro$3.50

Fast Execution Speed On cTrader

FP Markets also performed well in our execution speed tests achieving an average market order speed of 96ms. I find that anything below 100ms is excellent for scalping. With the fast market order speeds, you’ll be able to take advantage of cTrader’s one-click trading feature, getting your orders matched fast.

If cTrader isn’t your favourite platform, I like that FP Markets also makes TradingView, MetaTrader 4, and MT5 available. This gives you a solid choice in terms of how you want to trade.

FP Markets account types malaysia overview

Broker Screenshots

2. Pepperstone Top Broker For Forex Trading

Pepperstone

Forex Panel Score

98

Average Spread

EUR/USD = 1.12
GBP/USD = 1.69
AUD/USD = 1.22

Trading Platforms

MT4, MT5, cTrader, TradingView, Pepperstone Trading App

Minimum Deposit

$0

Why We Recommend Pepperstone

I rated Pepperstone highly in my broker tests, scoring it 98/100. This high overall score is based on the solid conditions it offers for forex trading. You can trade 93 forex pairs (updated and increased for 2025), while paying zero-pip spreads on the Razor account. This makes Razor the cheapest account for forex trading.

The broker also achieved excellent limit order execution speeds (77ms) in our testing. This will help you avoid missed entries when you trade.

Pepperstone delivers multiple trading platforms including cTrader, MT4, MT5, and TradingView. I like this a lot, because it allows traders of any style to take advantage of Pepperstone’s excellent trading conditions.

Pros & Cons

  • The best order execution speed
  • Leverage of 1:200 for Forex with negative balance protection
  • Tight spreads for Standard and RAW accounts
  • MT4, MT5, cTrader and TradingView Platforms
  • Good 3rd party tools – Myfxbook, DupliTrade, Signals
  • Solid but not exceptional educational tools
  • Swap-Free account has an admin fee every 10th overnight
  • The commission per side is $3.50 USD for the Razor Account

Broker Details

Razor Account Offers 0 Pip Spreads

One of the reasons I’ve rated Pepperstone so highly is its zero-pip spreads in our tests on its Razor account.

My analyst, Ross Collins, tested Pepperstone’s spreads (along with those of 14 other brokers) to see how long each offered zero pips across each trading day. According to Ross, Pepperstone offers EUR/USD at 0.0 pips 100% of the time (outside of rollover), which certainly aligns with my experience using the broker.

Zero Spread Testing
BrokerTime At Minimum Spread
Pepperstone100%
City Index100%
Fusion Markets98.55%
IC Markets97.83%
Eightcap97.83%
FP Markets97.83%
ThinkMarkets94.93%

Trading EUR/USD with zero-pip spreads makes scalping or day trading very cheap, as you don’t have to cover the spread. Instead, you’ll pay a fixed commission of $3.50 per lot, which keeps your trading costs the same regardless of market volatility.

Excellent Selection Of Forex Pairs

With 93 forex pairs, Pepperstone gives you access to one of the largest collections of currency pairs in the industry. This covers all major and minor pairs, and most exotic ones too. Only IG Group (110 pairs) and CMC Markets (330+) offered more in my testing.

Fast Limit Order Speeds

In Ross’ Execution Speed test, he gathered the average limit and market order execution speeds over 24 hours. To do this, he used his MT4 platform with the ExTest_ForExpat and Broker Latency Tester EAs.

Pepperstone came 3rd overall, thanks to its fast 77ms limit order speeds. This means your stop-loss and take-profit orders should execute at the expected rate. If you’re a breakout trader, you’ll also benefit from these near-instant execution speeds when placing your pending orders.

Limit Order Average Execution Speed

Pepperstone’s platform options include TradingView and cTrader, both of which offer excellent technical analysis tools. Alternatively, you have MetaTrader 4 and MT5 – both great if you want to automate your trades.

pepperstone account types brief malaysia

Broker Screenshots

3. IC Markets Lowest Spread Forex Broker

IC Markets

Forex Panel Score

93

Average Spread

EUR/USD = 0.62
GBP/USD = 0.83
AUD/USD = 0.77

Trading Platforms

MT4, MT5, cTrader, TradingView, IC Markets Mobile App

Minimum Deposit

$200

Why We Recommend IC Markets

IC Markets is my top choice for low spreads, scoring 9/10 in this category. The broker achieved excellent results on both Standard and Raw accounts.

The broker provides very low spreads on its Standard account, with the EUR/USD pair averaging 0.73 pips in our tests. This makes it my favoured account for spread-only pricing with no commissions.

With 2,250+ CFD markets to trade, you’ll have plenty of opportunity to benefit from lower trading costs. You also have access to MT5, MT4, cTrader or TradingView – four of the best platforms in the industry.

When all of these factors are combined – and once the excellent customer service is taken into account – IC Markets easily makes my overall top 5 forex brokers. The global score for the broker was 93/100 overall.

Pros & Cons

  • Best spreads with RAW and Standard accounts
  • Leverage of 1:1000 with negative balance protection
  • Trading platforms MT4, MT5 and cTrader on desktop or mobile
  • Choice of commission-based or spread-only trading
  • Social trading with ZuluTrade and IC Markets app and Signals
  • No crypto account funding option
  • Swap-free account charges an administration fee
  • No Autochartist or Trading Central

Broker Details

Lowest Standard Account Spreads

While I used my IC Markets Standard account, I noticed how low the spreads were during the Asian trading session. This is thanks to the broker’s 25 liquidity providers.

My analyst confirmed that IC Markets had the lowest spreads for Malaysia after testing the broker against 15 others.

By using the IceFX SpreadMonitor on his MT4 platform, Ross was able to accurately collect the average broker spread data. Although he did this for both the RAW and Standard accounts, it was the Standard account that impressed me most, with an average EUR/USD spread of 0.73 pips.

This placed IC Markets in first, slightly ahead of Octa, and 34% cheaper than the industry average (1.11 pips). IC Markets’ Standard account also held the top spots across the 6 forex pairs tested, as you can see below:

Standard Spreads Tested By Ross Collins
0.73 0.82 1.15 1.09 1.00
1.19 1.28 1.42 1.51 1.56
1.21 1.24 1.50 1.55 1.60
1.16 1.34 1.49 1.55 1.70
1.59 2.49 2.10 1.87 2.28
1.16 1.07 1.77 1.74 2.30

Avg. spreads are taken from each broker's website and updated monthly. Last update on 08/01/2025

Tight Raw Account Spreads

The RAW account was equally impressive in Ross’ tests. The EUR/USD pair averaged 0.19 pips, which is very strong, although you must cover the commission of US$3.50 per lot traded.

Interestingly, I found the Standard account the cheaper of the two, which is rarely the case when it comes to Standard vs RAW accounts.

See how IC Markets compares with your broker’s spreads with our Spread Pricing Tool below:

Calculate Your Trading Costs Below

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Excellent Selection of Trading Products

You can benefit from low trading fees across IC’s diverse range of markets, including 61+ forex pairs, 1,600+ stock CFDs, 25+ indices, 26+ commodities, and 18+ crypto markets.

To trade these markets, you can use the cTrader, TradingView, MetaTrader 4, or MetaTrader 5 platforms. All these platforms delivered similar spreads with no price lag in my tests, so you won’t get penalised for choosing one platform over another.

IC Markets account types malaysia overview

 

Broker Screenshots

4. Eightcap Top Platform For Trading Crypto And Forex

Eightcap

Forex Panel Score

96

Average Spread

EUR/USD = 1
GBP/USD = 1
AUD/USD = 1.2

Trading Platforms

MT4, MT5, TradingView

Minimum Deposit

$100

Why We Recommend Eightcap

Low spreads and a strong variety of markets helped Eightcap score 96/100 in my tests. Eightcap offers 95+ crypto CFDs – the largest in range Malaysia – covering Bitcoin, Ethereum and altcoins like PEPE and DOGE. This is a good way to gain exposure to high-volatility markets, in my view.

As for forex, the broker offers 55 pairs, including all majors and minors. You’ll be able to trade these with tight spreads on its Raw account, which averages 0.20 pips on EUR/USD.

I was impressed to find support for leading trading platforms like MT5, MT4, and TradingView, and also extra tools like Capitalise.ai. These help you to automate your strategies, even if you don’t know how to code.

Pros & Cons

  • Tight spreads
  • Extensive crypto offering
  • Automated trading tools
  • Limited range of trading tools
  • Lacks 24/7 client support
  • No copy trading tools

Broker Details

Eightcap Has The Largest Cryptocurrency Selection

Eightcap positions itself as the best cryptocurrency broker by offering 95+ cryptocurrencies – the largest number offered by a regulated forex broker to retail traders in Malaysia. The markets cover major coins like Bitcoin, while offering altcoins like DOGE if you want to trade extremely volatile pairs.

In the table below, you can see that Eightcap offers more than triple the cryptos of its nearest competitor (eToro).

BrokerNo. of Cryptocurrencies
Eightcap95
eToro114
Pepperstone27
Plus50015
BlackBull Markets16
FP Markets12
FXTM11

The added benefit of using a forex broker is that you are trading with a fully regulated forex broker, who is obliged to provide transparent trading conditions and financial protections.

This gives you valuable peace of mind, as I know that not all crypto exchanges are regulated. These exchanges do not necessarily follow the same rules as regulated forex brokers.

Great Choice of Trading Platforms for Forex and Crypto Trading

You have a solid choice of trading platforms for executing trades and performing technical analysis. These are TradingView, MetaTrader 4, and MetaTrader 5 – all give access to cryptocurrencies.

I used TradingView while performing my review, as I like that you have access to 110+ indicators out-of-the box. This makes it easier to set up your strategy and get going. If you need custom indicators, or if you want to automate your trades, MT4 and MT5 are better alternatives in my opinion.

Capitalise.AI Automates Your Trading Strategies

To make automation available to everyone, I like that Eightcap provides Capitalise.AI. This is a no-code solution that turns trading rule inputs into automated strategies.

When I tested Capitalise.ai, I found that building an automated strategy takes less than 10 minutes. I simply told the tool my trading rules (including risk management), and then it created my automation.

Deploying the automation only takes a single click in MT4 or MT5, so the process is very easy.

eightcap account types products malaysia

5. ThinkMarkets Top Forex Broker For Islamic Trading

ThinkMarkets

Forex Panel Score

73

Average Spread

EUR/USD = 1.1
GBP/USD = 1.3
AUD/USD = 1.1

Trading Platforms

MT4, MT5, TradingView, ThinkTrader

Minimum Deposit

$0

Why We Recommend ThinkMarkets

I found that ThinkMarkets offers Islamic accounts for both its Standard and ThinkZero (Raw) accounts, so you’ll get to trade with no swap-fees. This makes the accounts Sharia-compliant.

You’ll get low spreads too. In my tests the ThinkZero account provided zero-pip spreads on EUR/USD 100% of the time, so your only cost is the $3.50 commission. You also have leverage of 500:1 on forex majors and access to 4,000+ markets from forex to share CFDs.

Pros & Cons

  • Tight spreads for Standard and RAW accounts
  • MT4 and MT5 trading platforms
  • ThinkTrader Mobile App that integrates with MT4 network for copy trading
  • Leverage of 500:1 for Forex
  • ThinkZero RAW Trading account has a $500 minimum deposit
  • Don’t publish their average spreads (potential lack of transparency)

Broker Details

ThinkMarkets Offers Islamic Accounts

If you’re seeking an Islamic Account, I found that ThinkMarkets offers the best set of choices. The broker allows you to apply Islamic fees on its Standard and ThinkZero accounts. Unlike other brokers, ThinkMarkets don’t force you to choose an expensive account just to receive the swap-free option.

The swap-free accounts can avoid charges for 6 nights, allowing for short-term trading. However, I noticed that if you leave positions open for 7 nights or more, you are charged an administration fee of $10 per lot. So as long as you close your positions on the 6th night, no fees will be charged.

ThinkZero Has Tight Spreads From 0 Pips

Out of the two accounts, I found ThinkZero to be the better choice in my tests. ThinkZero accounts charge $3.50 per lot traded, in line with the industry average, but its spreads start from 0.0 pips.

Like Pepperstone, ThinkMarkets also achieved zero-pip spreads in my analyst’s tests. But only the EUR/USD pair remained at zero 100% of the time.

BrokerAUDUSDEURUSDGBPUSDUSDCADUSDCHFUSDJPYGrand Total
ThinkMarkets95.65%100%91.30%91.30%91.30%100%94.93%
Pepperstone100.00%100.00%100.00%100.00%100.00%100.00%100.00%
CityIndex100.00%100.00%100.00%100.00%100.00%100.00%100.00%
Fusion Markets100.00%100.00%100.00%100.00%91.30%100.00%98.55%
IC Markets100.00%100.00%100.00%100.00%86.96%100.00%97.83%
EightCap100.00%100.00%100.00%100.00%86.96%100.00%97.83%
FP Markets100.00%100.00%100.00%100.00%86.96%100.00%97.83%

If you want a streamlined pricing experience, the Standard account offers wider spreads, averaging 1.10 pips on EUR/USD, below the industry average. Plus, you don’t have to pay any commission.

ThinkMarkets’ Delivers Market Variety

I really like that ThinkMarkets is supporting Islamic traders. The broker doesn’t limit its market variety on the Islamic account, and you’ll get 4,000+ markets to trade across all the broker’s accounts.

This includes 46 forex pairs and 4,600+ share CFDs, 27 cryptocurrencies, 7 commodities, 352 ETFs, and 16 indices.

6. FxPro Good cTrader Forex Broker

FxPro

Forex Panel Score

59

Average Spread

EUR/USD = 1.32
GBP/USD = 1.7
AUD/USD = 1.95

Trading Platforms

MT4, MT5, cTrader, FxPro Trading Platform

Minimum Deposit

$100

Why We Recommend FxPro

FxPro is my best choice for a cTrader forex broker. I found the broker’s services complement the platform well. You have competitive spreads from 0.20 pips on EUR/USD on its cTrader account, with leverage up to 1:2000.

With FxPro being an ECN broker, you get fast execution speed, which helps you scalp the markets efficiently. You’ll also avoid requotes and price slippage that can negatively impact your trading performance.

Pros & Cons

  • MT4, MT5, cTrader and FxPro Platforms
  • Fixed spread with instant execution available with their standard account
  • Leverage up to 1:2000 (dynamic)
  • Over 70 currency pairs
  • High minimum deposits for Pro, RAW+ and Elite accounts
  • Swap free account uses a 3-night grace period before applying swaps
  • Charges an inactivity fee

Broker Details

FxPro Pairs Well With cTrader

Out of the brokers I tested, FxPro provided the best support for the cTrader platform. The cTrader is a decent platform with a wide choice of 67 indicators (more than MT4 and MT5), with extra volume-based tools like VWAP.

If you require advanced charts, cTrader has 130 timeframes. There are also custom chart types, like Renko, Heikin-Ashi, and candlestick charts. These allow you to trade based on price or time.

I think scalpers will benefit most from the cTrader platform’s features. Take the Depth of Market tool, for example. This lets you view the liquidity provider’s order books to see where other traders are placing their open orders – very useful for quick trading decisions.

I use this for determining market sentiment or areas of liquidity to help me time my trades better. This adds another layer to my analysis, using RAW data. Plus, I like that you can one-click trade directly from the Depth of Markets tool, providing faster execution than if you were using order tickets.

FxPro’s cTrader Account Has Low Trading Commissions

FxPro’s cTrader Account has reasonable spreads averaging 0.20 pips, and cheap commissions at $3.50 per lot traded. In other words, it’s a low-cost trading account.

cTrader is an excellent platform that I think fits most traders. However, choosing trading software is always a personal choice, and everyone is different. I have developed a trading platform tool to help find your perfect trading platform match. Check it out below:

7. IG Group Great Range of Trading Platforms

IG Group

Forex Panel Score

78

Average Spread

EUR/USD = 1.13
GBP/USD = 1.66
AUD/USD = 1.01

Trading Platforms

MT4, TradingView, IG Trading Platform, L2 Dealer

Minimum Deposit

$0

Why We Recommend IG Group

I gave IG Group 78/100 in my tests, for its large range of markets and decent selection of trading platforms. This provides you with a variety of ways to analyse the markets. You can trade with top platforms like TradingView (new for 2025), ProRealTime, MetaTrader 4, and L2 Dealer (for pros).

For me, the IG Trading platform is my standout pick. This is because of its trading signals and large choice of indicators, like pivot points and Bollinger Bands for breakout trading. You can trade with low spreads and access 17,000+ markets with the account – other platforms don’t quite match this.

Pros & Cons

  • 17,000+ Products, the largest of all brokers
  • IG Trading Platform, MT4 and L2 Dealer trading platforms
  • Good selection of trading platforms, including solid proprietary web trader
  • Low Leverage – only 1:200
  • Market maker so orders may have rejections
  • Lacks a swap-free account option for Islamic traders

Broker Details

Decent Range Of Trading Platforms

In my tests I found IG Group offered a decent collection of trading platforms, allowing you to choose from IG Trading Platform, MetaTrader 4, TradingView, ProRealTime, or L2 Dealer. I used the IG Trading platform during my tests, as it’s the only way to explore all of the financial instruments IG Group offers.

While using the platform, I liked that it offers a solid choice of indicators (40+), including Ichimoku and moving average indicators with 30+ drawing tools, providing a solid foundation for performing technical analysis.

The IG platform makes it easier for you to day-trade, thanks to the Signal Centre tool that provides trading signals from two top providers – PIA First and Autochartist. These signals deliver expert commentary on multiple markets including forex, indices, and commodities.

If you like to automate your trades, you will need to use ProRealTime or MetaTrader 4 as these are the only platforms that offer this feature.

Access 17,000+ Markets On IG Group

IG Group has the largest selection of CFD markets in Malaysia, with over 17,000+ financial instruments. You can trade 110+ currency pairs, 13 cryptocurrencies, 13,000+ share CFDs, 41 commodities, 2,000+ ETFs and 14 bond markets making IG Group a top multi-asset broker.

You get decent spreads on the broker’s Standard account, which can average 1.13 pips on EUR/USD during Asian trading sessions. With the broker offering such a wide variety of markets, I found their costs to be relatively competitive, especially on gold where the spreads averaged $0.50.

IG Markets Account Types Malaysia

8. FXTM Highest Leverage CFD Broker

FXTM

Forex Panel Score

62

Average Spread

EUR/USD = 1.9
GBP/USD = 2
AUD/USD = 2

Trading Platforms

MT4, MT5

Minimum Deposit

$10

Why We Recommend FXTM

FXTM offers the greatest leverage out of any of the brokers I’ve tested for Malaysian traders. You can get 1:3000 on forex majors, making it a great pick if you want to scale up your trade positions.

The broker also offers its Advantage Plus account. This account features tight spreads averaging 0.1 pips on EUR/USD, with $2.00 commissions (the lowest in my testing). The high leverage and cheap trading costs make FXTM a viable option in my view.

Pros & Cons

  • Leverage of up to 1:3000 available
  • Micro account option
  • Lowest commissions at $2.00 per lot
  • High minimum deposit requirement
  • Wider than average spreads
  • Charges a withdrawal fee

Broker Details

Highest Leverage Broker For Malaysian Traders

FXTM’s leverage is the highest among the brokers in Malaysia I’ve tested. Through its Mauritius-based entity, FXTM accepts clients from Malaysia, offering them up to 1:3000 on forex majors. This is significantly higher than other brokers I’ve seen, who can only offer a maximum of 1:100 if regulated by Labuan International Business and Financial Centre (IBFC).

I used the Advantage Plus account, and found that FXTM’s leverage scales according to the trade size. In other words, the lower the trading size, the greater the available leverage.

For example, if your trade is smaller than 1 lot, you can access 1:3000 leverage on forex majors. If you trade more than this, your leverage will be 1:1000, which is still much higher than most brokers in Malaysia.

Just keep in mind that raising the leverage increases the risk of being stopped out. This will potentially cost you more, and make it harder to trade.

Tight Spreads and Cheap Commissions on Advantage Plus

The reason I chose the Advantage Plus account as my favourite is its competitive commissions, just $2.00 per lot traded. This is a saving of ~42% on the industry average. Spreads on the account were also tight, averaging 0.1 pips on EUR/USD in my analyst’s tests.

RAW Spreads Tested By Ross Collins
0.16 0.09 0.21 0.22 0.23
0.19 0.19 0.41 0.36 0.61
0.22 0.23 0.17 0.27 0.16
0.19 0.23 0.27 0.24 0.24
0.20 0.31 0.31 0.39 0.51
0.27 0.32 0.44 0.43 0.50
0.59 0.37 0.59 0.45 0.47
0.15 0.37 0.59 0.67 0.50
0.22 0.42 0.62 0.25 0.56
0.20 0.48 0.44 0.47 0.64

Avg. spreads are taken from each broker's website and updated monthly. Last update on 08/01/2025

FXTM doesn’t shine when it comes to its market range, however. I found it only offered 300+ CFD markets, which isn’t the largest in Malaysia. But this does at least cover the major markets, like 42 forex pairs and 11 commodities.

9. eToro Most Advanced Social And Copy Trading

eToro

Forex Panel Score

48

Average Spread

EUR/USD = 1
GBP/USD = 2
AUD/USD = 1

Trading Platforms

eToro

Minimum Deposit

$50

Why We Recommend eToro

I think eToro is a great choice for copy trading, as they have set the bar high with their CopyTrader platform. With eToro providing both the broker and the platform, I find they achieve complete transparency when it comes to copy trader performance.

The broker has 7,000+ trading products. You can copy trade on these with spread-only pricing, starting from 1 pip on EUR/USD. There’s also no commission on any assets (including share CFDs).

Pros & Cons

  • Social and copy trading tools unique to the platform
  • Excellent selection of cryptos to trade
  • No commissions on any markets
  • Limited account types and trading platforms
  • Lacks trading tools for advanced strategies
  • Higher trading costs than comparable brokers

Broker Details

CopyTrader Makes Copy Trading Beginner-Friendly

eToro’s CopyTrader is my favourite copy trading platform – above other top options like DupliTrade or ZuluTrade. The CopyTrader platform simplifies finding candidates, and automatically mirrors the positions you want to copy. This means you can replicate the success (or loss) achieved by your chosen traders, instantly.

Finding a trader is easy with the platform’s filter tool. You can filter by total trades per week, number of followers, assets traded, and more. This helps you narrow down the 2 million+ copy traders to ones that match your investing profile in seconds.

The data eToro holds on each trader helps promote transparency. eToro provides full trading history on all candidates, including date stamps and P and L for every trader.

Plus, as a market maker, eToro sees all of the trades that are placed, so no one can manipulate their stats to attract traders fraudulently.

Low Spreads With No Commission Account

While opening my eToro account, I was impressed that there were no commissions on the account (even on share CFDs). This really simplified my trading costs. I also found the spreads were low, starting from 1 pip on EUR/USD – other copy trading platforms like ZuluTrade have larger markups.

10. Octa Good Swap Free Account

Octa

Forex Panel Score

55

Average Spread

EUR/USD - 0.9
GBP/USD = 1.2
AUD/USD = 1.5

Trading Platforms

MT4, MT5, OctaTrader

Minimum Deposit

$25

Why We Recommend Octa

Octa topped my list this year, thanks to excellent trading costs and other features. The broker offers low spreads averaging 0.90 pips, fast execution speeds (91ms), and swap-free trading accounts.

I gave Octa a solid 88/100 in my overall review – a score that was boosted by the generous 1:1000 leverage available.

The platforms are also among the best in the industry. You have MetaTrader 5, which will suit experienced traders with its advanced technical analysis. Meanwhile, OctaTrader offers a great experience for beginners with its Pattern Recognition tools.

Pros & Cons

  • Swap-free trading
  • Low spreads with no commissions
  • Social features on OctaTrader
  • Leverage 1:1000
  • 24/7 Customer support in local languages
  • Lacks phone support
  • No TradingView or cTrader
  • OctaTrader’s Product range is slightly limited

Broker Details

Lowest Trading Costs With No Swap Trading

When I opened my Octa account, I was impressed to find no hidden charges or swap fees. The no swap fees feature is typically limited to Islamic accounts, but is provided to all Octa traders.

A lack of swap fees makes the broker a top pick if you want to hold positions longer than a couple of days.

This means you can take advantage of Octa’s 150+ share CFDs, opening multi-day positions without paying extra for the privilege. If you trade shares, I’d highly recommend considering Octa for this feature alone.

Octa is an ECN broker with a twist – they only offer a spread-only Standard account, which means no commissions. I was impressed with the spreads while using the broker, as they started from 0.60 pips on the EUR/USD pair.

While the spread did drift across the Asian trading session, it stabilised at 0.90 pips, which is still very good for a Standard account.

Standard Account Spreads
0.90 1.70 1.60 1.40 2.30
1.20 1.40 1.40 1.50 1.40
1.10 1.10 1.20 1.20 1.20
0.82 0.83 1.27 1.03 0.94
1.00 1.20 1.10 1.20 1.20
1.10 1.10 1.10 1.30 1.40
1.46 2.06 1.52 1.76 1.59
1.13 1.01 1.71 1.66 1.12
2.10 2.10 2.70 2.50 2.50
1.00 1.00 1.50 2.00 1.00

Avg. spreads are taken from each broker's website and updated monthly. Last update on 08/01/2025

Considering you do not pay commissions, the spread-only pricing is competitive. Especially when you get the spreads towards the 0.60 pip offer, which can make it cheaper than traditional ECN brokers.

The Octa account doesn’t have other fees like inactivity or withdrawal costs, so you only pay through the broker’s spreads which simplifies your costs while providing great value.

Ranked 4th For Fast Execution Speeds

Octa don’t neglect their trading conditions when cutting these costs either. In our tests, Octa placed 4th for execution speeds, with market orders averaging 91ms. This fast execution makes them a decent pick if you are a short-term trader or scalper.

BrokerOverallLimit Order SpeedLimit Order RankMarket Order SpeedMarket Order Rank
Blackbull Markets1721905
Fusion Markets2793771
Pepperstone377210010
Octa4814916
OANDA5865842
Blueberry Markets7886947
FOREX.com89813884
Global Prime9887989
Tickmill1091911211
TMGM11941112913
City Index12951213114

Advanced Trading Tools With Multiple Platforms

With the broker’s ECN services, you can access MetaTrader 5’s advanced tools, including Depth of Markets (DoM). DoM lets you see the order flow, so you can find hidden liquidity zones.

If you prefer a platform that focuses on execution and technical analysis, then OctaTrader is my pick. Its Pattern Recognition tool helps you easily identify support and resistance levels.

Octa Trading Accounts