Lowest Spread Forex Broker Malaysia

We recommend Eightcap because it offers the lowest spread of just 0.06 for the EUR/USD pair which is 0.16 better than the industry average. In addition to this, Eightcap charges a low commission of only $3.50 for its RAW accounts as well.

Its status as a no dealing desk broker also allows it to offer 0 pip spreads for 97.83% of the time excluding the rollover period. Plus, you can take advantage of these low trading costs on the best platforms, MetaTrader 4, MetaTrader 5, and TradingView.

In our tests, we found the RAW Account’s average spread of 0.06 pips to be competitive, aligning with the industry’s top offerings in Malaysia. This narrow spread means you’re entering trades with minimal cost, helping boost your profit margins.

While Eightcap does apply a commission of $3.50 per lot, we think this trade-off is beneficial, especially given the ultra-low spread, ensuring your trading costs are transparent and low.

You’ll benefit from the low spreads through a decent selection of trading platforms, including MetaTrader 4, MetaTrader 5, and TradingView. All of these platforms allow you to perform advanced technical analysis and customise your platforms.

We like TradingView for its excellent advanced charting tools, which include 110+ indicators and 50+ drawing tools, including Fibonacci and Elliott Wave tools. The developers also add new indicators at no extra cost, ensuring you’re always equipped with the latest tools to refine your strategies.

We tested TradingView’s market scanner feature, a powerful tool for day traders. You can create a filter that consistently updates based on your search criteria and automatically populates the tool with your results. We think this is excellent, as you can find markets that qualify for you to validate, saving you hours while finding markets you may never have considered.

For example, setting the scanner to display markets only above their open price and with an RSI above 65 can quickly highlight potential markets primed to enter.

Eightcap covers a wide range of markets, with 56 currency pairs, 586 shares, 16 indices, and eight commodities, but it’s the 95 crypto markets that caught our attention. This is the most crypto markets from any broker we’ve reviewed, allowing you to test the waters on a range of popular cryptocurrencies.

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Pepperstone offers one of the lowest RAW spreads of just 0.1 pip for the EUR/USD trading pair alongside a commission of $3.50. You can also choose the Pepperstone standard account type which has zero commission while still providing a below-average spread of 1.40 across the most traded pairs.

The best feature of this Australia-based broker for us, however, is its support for all of the major trading platforms: MT4, MT5, TradingView, and even cTrader.

From our testing, Pepperstone also has an average limit order execution speed of just 77 ms — making it one of the fastest.

We opened a Standard account with Pepperstone to test their spreads firsthand and experience the broker’s services. The Standard account has gained popularity among traders because it balances competitive spreads without paying a fixed commission outside the trade. This is why we think it’s a go-to choice if you are a beginner or prefer a straightforward trading cost structure.

In our live tests, the Standard account’s spreads on EUR/USD averaged 1.12 pips, lower than our industry benchmark of 1.24 pips. This difference, though seemingly small, can significantly impact trading costs over time, enhancing your profitability.

Another feature we like is that Pepperstone’s Standard account has no minimum deposit requirement. We think this is a solid decision from the broker, allowing you to start trading with an amount you’re comfortable with without the pressure of meeting the broker’s minimum deposit.

Pepperstone gives you one of the best choice of trading platforms, covering all the popular platforms such as MetaTrader 4, MT5, cTrader, and TradingView – more than most other brokers.

We tried MetaTrader 4 and were impressed by its suite of over 30 indicators, three chart types, nine timeframes, customisable indicators, and automated trading capabilities through Expert Advisors.

While exploring the platform, we found that Pepperstone offered 18 unique indicators to enhance the MT4 for live account holders. One that stuck out for us was the High-Low indicator. This indicator automatically placed the previous day’s high and low on the chart, constantly reminding you of two significant price levels for the day.

Because of this customisation, we think MetaTrader 4 stands out as an all-in-one platform that traders of any style can use and personalise.

We recommend IC Markets for its tight RAW spreads. We combined the average spreads of the 5 major pairs and found the broker has an overall average of just 0.16 pips, making them one of the best brokers for low spreads. These low spreads are possible because IC Markets is also a no-dealing desk and STP broker.

IC Markets also combines its low spreads with a commission of just $3.50 — making it one of the most cost-effective forex brokers in Malaysia.

We like IC Markets because it offers a suite of top-tier trading platforms: cTrader, MetaTrader 4 (MT4), MetaTrader 5 (MT5), and TradingView. Each platform has benefits, ensuring you’ll find a platform that suits you regardless of your trading style.

cTrader is better known for its features for scalping with ladder trading tools and a one-click trading feature, which speeds up market execution orders. MetaTrader 4 is favoured for its wide range of indicators and automated trading through expert advisors (EAs), making it the top choice if you want to automate your strategies.

We think MT5 stands out, especially when paired with IC Markets. The platform offers advanced charting tools and exclusive features like the Depth of Market (DOM) tool, which you can benefit from, with IC Market being an ECN broker.

While exploring MT5, we found the selection of default indicators (38+) and drawing tools (44+), giving you a solid foundation of trading tools to develop a trading strategy. This improvement on MT4’s selection includes improved indicators, such as the Adaptive Moving Average and Chaikin Oscillator, with new drawing tools like Elliott Wave patterns.

Our tests on the MT5 platform through IC Market’s RAW account revealed low spreads, averaging 0.02 pips on EUR/USD, almost 90% cheaper than the industry average.

The broker’s competitiveness is further highlighted by the low average spreads across other major pairs, which we found to be around 0.16 pips. Based on our testing, these spreads cement IC Markets as a low-spread broker with its RAW account, which is an ideal choice if you have a high trade frequency.

FP Markets offers an ECN account with extremely tight spreads that go as low as 0.1 pip for the EUR/USD pair. Its RAW spread for the five most popular trading pairs is also just 0.22; which is 0.22 pips lower than the industry average.

This, combined with the low commission of $3.00 makes FP Markets a great choice for scalping in our experience.

Not to mention FP market’s support for MT4, MT5, cTrader and TradingView trading platforms — allowing you to utilise the best trading tools.

After opening a RAW account with FP Markets, we were immediately drawn to their high-leverage offerings, which go up to 1:500 on forex and gold.

This level of leverage allows you to maximise your trading potential with less capital, although you should be cautious, as it also amplifies your risk. FP Markets can offer this as they accept clients from Malaysia but are not directly regulated by the Labuan International Business and Financial Center (IBFC) (who cap leverage to 1:100 on forex).

The RAW account’s average spread of 0.1 pips on EUR/USD is tight thanks to FP Markets’ No Dealing Desk (NDD) model. This setup ensures direct access to liquidity providers, allowing for the most competitive pricing without any markup. Lower spreads mean lower costs per trade, and the NDD model minimises slippage, ensuring you get your trades executed at the best possible prices.

From our testing, we think FP Markets offers a solid choice of markets, covering 63 currency pairs, 19 indices, 10,000+ shares, 13 commodities, and 11 crypto markets. This range of instruments is ideal for scalpers, allowing you to capitalise on short-term price movements in multiple markets quickly. It can potentially improve your chances of finding new trade ideas and overall profitability.

AvaTrade also offers a fixed spread starting from just 0.9 for the EUR/USD pair. Plus, it does not charge any commission either.

In addition to this, AvaTrade is a market maker that operates like a no-dealing desk forex broker. This means that it allows both day-trading and scalping.

This unique model makes the cost of your trades on this FSC-BVI-regulated forex broker more predictable which, in turn, makes it the ideal broker for day trading in our opinion.

Our tests with AvaTrade’s Standard account showed they offered a competitive 0.9 pips spread on the EUR/USD pair with no additional commission fees. While this spread may appear higher compared to others, we believe it’s a fair trade-off. The spreads are fixed, meaning they won’t fluctuate during volatile conditions or price spikes, potentially saving you money when day trading.

In our opinion, fixed spreads provide an advantage for day traders. They eliminate the risk of higher trading costs during periods of market volatility, allowing you to trade confidently around news announcements throughout the day.

Furthermore, the AvaTrade Standard account lets us access several trading platforms, including MT4, MT5, Web Trader, AvaTradeGO, and AvaTrade Options.

We liked the AvaTradeGO mobile app, which features an impressive market sentiment tool conveniently integrated with the current market you’re analysing. As you can see in the image below, 76% of AvaTrade’s clients that are positioned in gold are shorting it.

We think tools like this can be incredibly useful if you day trade, providing a quick and easy snapshot of other market participants’ sentiments, which can help validate trade ideas.

Furthermore, while exploring the mobile app, we found the platform to offer a decent choice of 80+ trading indicators, more than most other trading apps on a mobile device.

This type of crowd-sourced market sentiment can be a valuable piece of information, especially when combined with your own analysis and trading strategies.

With 55 forex pairs, 632 shares, 33 indices, 27 commodities, and 17 crypto markets available, AvaTrade offers enough markets to capitalise on multiple assets with its fixed spreads.

FXCM offers one of the most generous rebate programs for high-volume traders which is why we chose it for this list. This rebate program goes up to tier 5 at which point you receive $25 back for every million USD in trades in one month.

FXCM also offers some good RAW spreads like 0.6 pip for the USD/CAD which is 0.6 lower than the industry average.

This FSCA-regulated broker also supports both MetaTrader 4 and TradingView as well. It also has an in-house trading app called Trading Station which includes robust charting tools.

FXCM’s Active Trader program stands out for high-frequency traders or those who trade large positions thanks to its attractive rebate system. While receiving a rebate ranging from $5 to $25 per million traded might seem modest at first glance, it can help you recover your trading costs over time.

This rebate system essentially lowers your trading costs, rewarding your trading activity with a direct cashback into your account, depending on the volume traded. If you are an active trader, this can lead to substantial savings and a lower cost base, enhancing profitability.

The minimum trading volume of $10,000,000 to qualify for the rebates may appear daunting, yet for active traders, this threshold is surprisingly attainable. We used FXCM’s rebate calculator, and with a trading volume of 20M (200 lots), we qualified for Tier 1 rebates, equating to $100 back.

FXCM offers a commission-free Standard account, where you pay only the spreads to open your trades. We found the broker competitive during our tests, offering an average spread of 1.3 pips on EUR/USD.

While slightly higher than the industry average of 1.24 pips, we think this difference is negligible, especially considering the potential rebates available for high-volume traders.

Thanks to FXCM’s solid choice of trading platforms, which include Trading Station, MetaTrader 4, and TradingView, you can benefit from its services no matter your trading style.

Additionally, we like the 20 apps offered by FXCM, ranging from technical indicators to reporting tools, which can enhance your trading experience and provide valuable insights.

At just $2.25, Fusion Markets has the lowest commission on the market which is $1.23 less than the industry average of $3.48.

Additionally, we tested the RAW spreads of the most popular forex brokers and Fusion Markets had the lowest RAW spread for EUR/USD at just 0.22 pips.

You can utilise these low trading costs with both MetaTrader 4 and MetaTrader 5.

We found Fusion Markets to have the lowest commissions, charging $2.25 per lot traded, significantly lower than the industry average of $3.48. In fact, the broker’s commissions are roughly 35% cheaper than the industry average. We think this can give you significant savings compared to its peers, especially those who execute a high volume of trades.

To test Fusion Markets’ spreads, we opened a Zero account, which is their commission-based trading account with tight spreads from 0.0 pips on EUR/USD. Our analyst, Ross Collins, used this account and found that Fusion Markets provides very competitive RAW spreads, averaging 0.16 pips on EUR/USD.

We value the fact that Fusion Markets offers low commissions and low spreads. This combination lets you minimise your trading costs, potentially allowing for greater profit margins.

The broker also impressed us with their execution speeds. Our analyst, Ross Collins, used Fusion Markets’ Zero account to test the broker’s execution speed on the MetaTrader 4 platform and compared the results against 14 other brokers.

His findings showed that Fusion Markets had the fastest market execution speed, clocking in at 77 ms, and came second place for its limit order speed of 79 ms.

We believe fast execution speeds are crucial, especially for scalpers and high-frequency traders. They can increase the likelihood of favourable entry and exit points and minimise potential slippage.

Given the combination of low commissions, tight spreads, and fast execution speeds, we think Fusion Markets is an ideal choice for scalpers and active traders.