Compare trading platforms, products, account types and costs and more

Why Traders Should Compare Forex Brokers?

Whatever level of experience you may have with Forex trading, it is important you choose the right Forex broker for your needs. The team at CompareForexBrokers can help you find the right broker that helps you achieve this.

CompareForexBrokers can help you find the right broker by educating you on what each broker has to offer. This includes their pros and cons, the type of trading platforms available along with trading tools, the spreads (or trading costs), and the trading accounts available. Other features we cover are risk management tools, leverage, customer service, and the education the brokers might provide. Lastly, we cover broker safety and trust. With the right information, you can be sure that your broker is appropriately regulated for your funds’ security.

Forex is legal in Malaysia, with the Securities Commission Malaysia (SC) responsible for regulation. Ideally, the broker you choose will be registered with The Securities Commission Malaysia (SCA-M) under the Capital Markets & Services Act 2007 (CM&S Act). At this time, very few major Forex brokers are registered to operate in Malaysia. Most Forex traders will then need to trade via online Forex brokers. Being online, the broker may not have a physical presence in Malaysia. Hence, it is essential to choose a broker that is well-regulated and possesses a good reputation.

The last factor we cover is the type of accounts suitable for Islamic traders since swap fees (also called holding fees or overnight charges) are not permitted in Sharia law since they are a type of riba. We can advise which brokers have swap-free trading accounts so you can trade knowing you are in compliance with  Islamic law.

As part of our Forex brokers comparison website, we have pages specifically for Malaysian traders as we realise the needs of Malaysian traders vary from that of traders from other countries.

top forex brokers in malaysia

Best Forex Brokers In Malaysia

Given very few Forex brokers are located in Malaysia, chances are high that you will be signing up with a broker that is online. For this reason, you will want to make sure any broker you choose can be trusted and we advise how you can be sure of this. We also look at the key features of each broker that make them a good choice. Features include forex trading platforms, automation tools, social and copy trading software. Other features that one should factor in include spread costs, trading account types and what education is available.

View our top forex broker Malaysia list.

top forex trading platform malaysia

Trading Platforms Malaysia

When choosing a forex broker, we think one of the most important features when choosing a broker is the trading platforms they offer. You want to use a Forex Trading platform that has a good user interface, lots of trading indicators and charts, fast execution and does not have any bugs. Other facts to look for include automation tool, social trading and copy trading software and any 3rd party tools that can elevate your trading experience.

MetaTrader 4 is the most widely used of the trading platforms available so is one of the most popular trading platforms one can use. Other platforms include MetaTrader 5, cTrader, TradingView. If you wish to automate your trading, you can use Expert Advisors (EAs) with MetaTrader or 3rd party tools such as Myfxbook, DupliTrade and Etoro are popular social and copy trading options.

In our reviews, we tell you the key features of the trading platforms in Malaysia, and we advise which brokers offer these platforms.

low spread forex brokers malaysia

Low Spread Forex Brokers

No one likes to spend more than they need to meaning trading costs such as spreads, deposit or withdrawal fees and inactivity fees should be factored in when choosing a Forex broker. Here at CompareForexBroker’s, we are unique since we actually sign up with the brokers and test their spreads.  A tighter spread means you will pay less each time you open or close a trading position, we test many of these brokers to find their average spreads for major currency pairs which will help reduce avoidable costs.

View the lowest spread forex brokers in Malaysia list.

automated trading software malaysia

Best Automated Trading Platforms

Algorithmic trading means you are trading with bots to automate your trading. While this might sound intimidating, most of these programs can be created using plain English meaning you can create your own algo program without knowing any code or only the most basic code.

MetaTrader 4 and MetaTrader 5 is the most popular example of automated trading, With these platforms, you can access hundreds of expert advisors (EAs) for free or at cost or even create your own using MQL4 or MQL5. Alternately specialised software such as which can integrate with MT4 or ProRealTime.

Another way one can ‘automate’ trading is with social trading. Software like Myfxbook, DupliTrade, Pelican and eToro are all designed to help you follow and copy other traders. We consider this automation since you can automate the copying of other traders.

View the top CFD trading platforms that allow automation.

Understanding The Risks Of Forex Trading

Disclaimer: Leverage instruments are risky so it is advised you do your own research before trading on margin or with leverage. Trading with leverage is at your own risk.

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