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Lowest Spread Forex Brokers in Malaysia (2026)

IC Markets publishes a 0.1 pips average EUR/USD spread on its Raw Spread account, and all three brokers take residents of Malaysia through offshore companies. MultiBank Group also publishes a 0.1 pips average, while Purple Trading publishes 0.3 pips, so the spread alone leaves two of the three tied.

Justin Grossbard, Co-Founder of CompareForexBrokers Written by Justin Grossbard Fact-checked by David Levy Last updated:

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Low spread brokers that take Malaysian residents, compared

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Showing 3 of 3 brokers
Compare spreads, minimum deposits and platforms across 3 brokers, ordered by our ranking. Select a column header to re-sort. Select a broker's + for the company that takes Malaysian residents, its minimum deposit and review details.How we rank
#BrokerScore /100EUR/USD spread (pips) and commissionPlatformsMinimum depositVisit brokerMore details
1IC Markets logoIC Markets#1 Highest score, globalRaw Spread and Swap Free89Global score0.1 pips average + $3.50 commission per lot payable per side, Raw Spread accountMT4MT5cTraderTradingView+1 more platform, listed in this broker's detailsMT4, MT5, cTrader, TradingView, IC mobile app$0, Raw Spread account (MetaTrader); also $0 on Raw Spread (cTrader) and StandardVisit IC Markets
How we know it takes Malaysians
A Malaysian client support number on its site: ic.com, read 30 September 2026
Full review
Read our IC Markets review
Platforms
MT4, MT5, cTrader, TradingView, IC mobile app
Company for Malaysian residents
Raw Trading Ltd, SeychellesLicensed by the Financial Services Authority of Seychelles, licence SD018 (the number is the broker’s); basis: register
2MultiBank Group logoMultiBank GroupStandard, Pro and ECN accounts80.3Global score0.1 pips average + commission not published, ECN accountMT4MT5Web Trader MT4Web Trader MT5+2 more platforms, listed in this broker's detailsMT4, MT5, Web Trader MT4, Web Trader MT5, Social Trading, MB Trader$50 on the Standard account$1,000 Pro, $10,000 ECNVisit MultiBank Group
How we know it takes Malaysians
Malaysia in its sign-up country list: multibankfx.com, read 30 September 2026
Full review
Read our MultiBank Group review
Platforms
MT4, MT5, Web Trader MT4, Web Trader MT5, Social Trading, MB Trader
Company for Malaysian residents
MEX Atlantic Corporation, Cayman IslandsLicensed by the Cayman Islands Monetary Authority, licence 1811316; basis: broker’s statement
3Purple Trading logoPurple TradingcTrader Copy trading54.5Global score0.3 pips average + $5 commission per side, RAW accountcTraderTradingViewMT4MT5+1 more platform, listed in this broker's detailscTrader, cTrader Copy, TradingView, MT4, MT5$500, Standard account; also $500 on RAW accountOfficial site of Purple Trading
How we know it takes Malaysians
Malaysia in its sign-up country list: d3h7n20zlyx7e3.cloudfront.net, read 30 September 2026
Full review
Read our Purple Trading review
Platforms
cTrader, cTrader Copy, TradingView, MT4, MT5
Company for Malaysian residents
AXSE Brokerage Ltd., SeychellesLicensed by the Financial Services Authority of Seychelles, licence SD041 (the number is the broker’s); basis: register

Only named US dollars carry "US$"; a bare "$" stays as printed. The spread column shows the EUR/USD spread, basis word, commission or "commission not published", with no total worked out. In "+" rows, "register" means we read the regulator's register, otherwise "broker's statement". The companies are licensed in the Cayman Islands and Seychelles, and their pages were read from a Malaysian connection on 29 and 30 September 2026.

Key sections

Which forex broker has the lowest spread in Malaysia?

Ordered by published average EUR/USD raw spread, lowest first; brokers that state how and when they measured come first.

  1. IC Markets - Raw Spread account at 0.1 pips average, no minimum deposit
  2. MultiBank Group - 0.1 pips average on ECN account, $50 Standard deposit
  3. Purple Trading - 0.3 pips average on RAW account, $500 deposit

The lowest spread forex brokers in Malaysia, reviewed

Raw Spread and Swap Free

1. IC Markets

89/100
Global score
#1 of 3 on this page
Visit IC Markets

IC Markets takes Malaysian residents through Raw Trading Ltd, licensed in Seychelles by the Financial Services Authority of Seychelles. It publishes a 0.1 pips average EUR/USD spread on its Raw Spread account, with no minimum deposit. You get MT4, MT5, cTrader, TradingView, and the IC mobile app, and copy trading through IC Social, cTrader Copy Trading, ZuluTrade, or Signal Start. Its Swap Free account applies an overnight holding fee.

Company
Raw Trading Ltd, Seychelles
Regulator
the Financial Services Authority of Seychelles, licence SD018 register
EUR/USD spread and commission
0.1 pips average + $3.50 commission per lot payable per side, Raw Spread account
Minimum deposit
$0, Raw Spread account (MetaTrader); also $0 on Raw Spread (cTrader) and Standard
Platforms
MT4, MT5, cTrader, TradingView, IC mobile app
Sources for IC Markets
  • ic.com (takes Malaysians), read 30 September 2026
  • ic.com (spread, commission, deposit), read 29 September 2026
  • ic.com (platforms), read 29 September 2026
Standard, Pro and ECN accounts

2. MultiBank Group

80.3/100
Global score
#2 of 3 on this page
Visit MultiBank Group

MultiBank Group publishes a 0.1 pips average EUR/USD spread on its ECN account, and the Standard account asks $50 (the Pro $1,000, the ECN $10,000). It takes Malaysian residents through MEX Atlantic Corporation, licensed in the Cayman Islands by the Cayman Islands Monetary Authority. You get MT4, MT5, Web Trader for both, and MB Trader, with copy trading through Social Trading. Its Akaun Islamik (Islamic Account, also called Swap-Free Account) is available.

Company
MEX Atlantic Corporation, Cayman Islands
Regulator
the Cayman Islands Monetary Authority, licence 1811316 broker’s statement
EUR/USD spread and commission
0.1 pips average + commission not published, ECN account
Minimum deposit
$50 on the Standard account ($1,000 Pro, $10,000 ECN)
Platforms
MT4, MT5, Web Trader MT4, Web Trader MT5, Social Trading, MB Trader
Sources for MultiBank Group
cTrader Copy trading

3. Purple Trading

54.5/100
Global score
#3 of 3 on this page

Official site

Purple Trading's RAW account publishes a 0.3 pips average EUR/USD spread, and its Standard and RAW accounts ask a $500 minimum deposit. Platforms are cTrader, TradingView, MT4, and MT5, with copy trading through cTrader Copy. It takes Malaysian residents through AXSE Brokerage Ltd., licensed in Seychelles by the Financial Services Authority of Seychelles.

Company
AXSE Brokerage Ltd., Seychelles
Regulator
the Financial Services Authority of Seychelles, licence SD041 register
EUR/USD spread and commission
0.3 pips average + $5 commission per side, RAW account
Minimum deposit
$500, Standard account; also $500 on RAW account
Platforms
cTrader, cTrader Copy, TradingView, MT4, MT5
Sources for Purple Trading

Bank Negara Malaysia (BNM) said on 12 July 2024: “Forex trading, except those that are carried out with banks licensed by BNM, is illegal!” The quote comes from BNM’s statement of 12 July 2024. The three brokers on this page each take Malaysian residents through companies licensed outside Malaysia, not by Malaysian regulators.

Average spread or "from 0.0 pips": which figure should you compare?

An average spread is measured over time, while a “from 0.0 pips” figure is the lowest the spread can go. Two of the three publish averages of 0.1 pips for EUR/USD: IC Markets on the Raw Spread account and MultiBank Group on the ECN account. Purple Trading’s RAW account publishes 0.3 pips. Pepperstone’s Razor account and CMC Markets’ FX Active account, on our wider Malaysian list, are advertised from 0.0 pips, but those are floors, not averages. None of the three states a period or method. I would compare averages, because an average is closer to what you pay. The chart below shows all three.

Horizontal bar chart of the three brokers' published average EUR/USD spreads in pips: IC Markets 0.1, MultiBank Group 0.1, and Purple Trading 0.3.00.20.4IC Markets0.1 pips average (Raw Spread account)MultiBank Group0.1 pips average (ECN account)Purple Trading0.3 pips average (RAW account)
The three brokers' published average EUR/USD spreads come from their own pages, read from a Malaysian connection on 29 and 30 September 2026. The figures are the brokers' own statements, not our measurement.

What does a EUR/USD spread cost per lot?

On one standard lot of EUR/USD, a pip is worth US$10, so a 0.1 pip spread costs US$1 per lot. None of the three brokers states its commission in a named currency, so the page prices the spread only. CFD costs across the Malaysian list are compared on the Best CFD Brokers in Malaysia (2026) page. To see what a pip is worth in the currency your account uses, try the pip calculator below.

One pip is worth US$10.00 EUR/USD is quoted in USD, so no conversion is applied.
Same maths as the full calculator Full pip calculator →

This pip value calculator takes the currency pair, the number of lots, and your account currency, and returns the value of one pip in that currency. Its rates come from our dated rates file, and the calculator shows that file's date.

Is a low spread broker better for scalping?

Yes, a low spread broker is better for scalping as a matter of cost. The spread is paid on every trade, so its cost grows with the number of trades you place. That makes a low spread the first cost I would check. A scalper pays the spread many times a day, while a swing trader who holds positions for days pays it once per position, so the published average matters more if you scalp. For which brokers suit scalping, which have the best spreads for it, and whether a Standard or RAW account serves you better, our scalping guide compares them in detail. All three brokers offer MetaTrader 4 (MT4), and our Best MT4 Brokers in Malaysia (2026) guide covers the platform in more depth.

How we ordered the lowest spread brokers

Brokers that state how and when they measured come first, then by published average EUR/USD raw spread, lowest first, ties broken by our published global score, highest first. None of the three states how and when it measured, so the 0.1 pips tie leads, then Purple Trading at 0.3 pips. IG Group’s 2020 average is left out. All three appear in Best Forex Brokers in Malaysia (2026). Their demo accounts are covered in Best Forex Demo Accounts in Malaysia (2026).

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FAQs

Which forex broker has the lowest spread in Malaysia?
IC Markets (Raw Spread account) and MultiBank Group (ECN account) tie at 0.1 pips on the published average EUR/USD spread, and neither is lower than the other. Purple Trading's RAW account publishes an average of 0.3 pips. None of the three states the period or method behind its average, so treat the figures as each broker's own statement.
Which forex brokers offer 0 spreads?
Pepperstone's Razor account and CMC Markets' FX Active account, both on our wider Malaysian list, are advertised from 0.0 pips. A "from" figure is the lowest the spread can go, while an average is measured over time, so a "from 0.0 pips" figure is a floor. The three brokers compared here publish averages of 0.1 pips (IC Markets and MultiBank Group) and 0.3 pips (Purple Trading).
How much does a 0.1 pip spread cost on one lot of EUR/USD?
On one standard lot of EUR/USD, a pip is worth US$10, so a 0.1 pip spread costs US$1 per lot. That figure prices the spread only, because none of the three brokers states its commission in a named currency. For a different pair, lot size, or account currency, the pip value changes, and the pip calculator works it out.
Is a low spread broker better for scalping?
Yes. Because the spread is paid on every trade, its cost grows with the number of trades you place, and a scalper places many trades each day. A low published average therefore matters more if you scalp. Compare published averages rather than "from" figures, because an average reflects what you pay over time.
Why is the spread I pay different from the published average?
An average is measured over time, and the spread quoted at any given moment is a single figure, so it can be wider or narrower than the published average. None of the three brokers states the period or method behind its published average. A "from" figure is different again: it states the lowest the spread can go.
How is an average spread measured?
A broker averages its quoted spread over a period it chooses. None of the three states its period or method, so you have no way to check the window each average covers. The published averages therefore stand as each broker's own statement, not our measurement.

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About the author

Justin Grossbard, Co-Founder of CompareForexBrokers

Justin Grossbard

Justin Grossbard is the Co-Founder and CEO of CompareForexBrokers, which he established with Noam Korbl in 2014. He has over 20 years of professional experience in online marketing and holds a Master's in Marketing from Monash University.

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