The best CFD Brokers in Malaysia offer a wide range of markets such as forex and crypto and have good CFD trading platforms. We look at the 6 brokers for CFD trading along with their spreads and costs.
Our forex comparisons and broker reviews are reader supported and we may receive payment when you click on a link to a partner site.
The brokers in Malaysia to trade Contracts For Differences
| Broker | Our Rating | Regulation | Standard EUR/USD Spread |
Standard GBP/USD Spread |
Standard AUD/USD Spread |
Raw EUR/USD Spread |
Raw GBP/USD Spread |
Raw AUD/USD Spread |
Commissions (USD Base) |
MetaTrader 4 | MetaTrader 5 | cTrader | Execution Speed | Minimum Deposit | Currency Pairs | Crypto CFDs | Retail Leverage | Prof. Leverage | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
9.00 | ASIC, SCB, CySEC | 1.0 | 1.0 | 1.2 | 0.06 | 0.73 | 0.27 | $3.50 |
|
|
|
143ms |
$250 (Raw) $500 (Standard) |
40+ | 250+ | 500:1 | 500:1 |
|
|
9.33 |
SCG, ASIC FCA, CySEC |
1.12 | 1.69 | 1.22 | 0.1 | 0.6 | 0.3 | $3.50 |
|
|
|
77ms | $0 | 62+ | 12+ | 30:1 | 500:1 |
|
|
8.50 |
ASIC, FSA CySEC |
0.62 | 0.83 | 0.77 | 0.02 | 0.23 | 0.17 | $3.50 |
|
|
|
134ms | $0 | 61+ | 18+ | 30:1 | 500:1 |
|
|
8.17 | ASIC, VFSA | 0.93 | 1.08 | 0.92 | 0.13 | 0.21 | 0.12 | $2.25 |
|
|
|
79ms | $0 | 90+ | 10+ | 500:1 | 500:1 |
|
|
7.17 |
ASIC, CySEC, MFSA FCA, FSA, FINRA GFSC |
1.0 | 2.0 | 1.0 | - | - | - | - |
|
|
|
130ms | $200 (Australia), $50-$100 (EU) | 49+ | 46+ | 30:1 | 400:1 |
|
|
5.42 |
FCA, DFSA, CySEC BaFin, CMNV, KNF |
0.9 | 1.4 | 1.3 | 0.9 | 0.14 | 0.13 | - |
|
|
|
160ms | $250 | 49+ | 16+ | 30:1 | 500:1 |
|
CFDs, or contracts for difference, are a popular form of derivatives trading that allows traders to speculate on the price movements of financial markets without actually owning the underlying assets. In this guide, CompareForexBrokers.com reviews the top six SCM-regulated brokers that support trading CFDs in Malaysia. Our analysis takes into account factors such as spreads, trading platforms, and customer service, with a focus on the availability of the popular MetaTrader platforms.
Forex Panel Score
Average Spread
EUR/USD = 0.06
GBP/USD = 0.73
AUD/USD = 0.27
Trading Platforms
MT4, MT5, TradingView, Capitalise.ai
Minimum Deposit
$100
Why We Recommend Eightcap
Eightcap is a recommended broker for the MetaTrader 5 (MT5) platform, especially because it enables you to fully utilize all of the items this broker offers. MetaTrader 5 is an improvement to MetaTrader 4 (also produced by MetaQuotes) and excels in CFD trading in particular because it is built for both centralized and decentralized trading..
Pros & Cons
Broker Details
Traders Can Benefit Fully From Eightcap’s Products With The Use of MT5
A MetaTrader specialist, Eightcap is our recommended broker for the MetaTrader 5 (MT5) platform particularly since this platform allows you to take full advantage of all the products this broker offers.
An upgrade of MetaTrader 4 (also made by MetaQuotes), MT5 excels in CFD trading particularly being designed for centralised and decentralised trading (meaning you can trade products that require a central exchange and those that do not).
Trading Products With Eightcap
Eightcap offers a solid range of markets in addition to superior trading conditions and fast execution speed.
In addition to 63 currency pairs, Eightcap also boasts over 250 cryptocurrency products. While all products can be traded against USD, 20 of these coins of which can also be traded against currencies other than USD including AUD, GBP, EUR, CAN, and MXN. You can even cross-pair these 20 cryptos against Bitcoin.
Leverage for Malaysian traders when trading forex, metals, and energies is up to 500:1 however leverage balancing applies depending on trade size. This is to protect your account balance as leverage is a risky instrument and no negative balance protection is provided.
You can trade crypto, stocks, and indices with leverage up to 20:1.
Commissions and Fees
The two trading accounts that Eightcap offers are Standard and Raw.
The commission-based Raw account has the lowest spreads, averaging under 1 pip across all major currency pairs at the industry standard of $7 round turn.
The spread-only Standard account, meanwhile, is suited for beginners with no commissions, albeit a wider average spread.
Clients in Malaysia will be registered with Eightcap Global Limited based in the Bahamas Eightcap Global Limited is regulated by The Securities Commission of The Bahamas (SCB) with licence number SIA-F220.
Fastest Execution Speeds For Malaysian Traders and Tightest Spreads
Of particular interest, if you are located in Malaysia is that Eightcap places its servers at the Equinix data centre in Tokyo (TY3). Since TY3 is closer to Malaysia than the NY4 Equinix data centre in New York (which nearly all brokers used) one can expect faster speeds with Eightcap than their competitors. A closer data center means faster execution speed since there is less distance for data to travel.
As a no dealing desk broker (NDD), Eightcap also sources liquidity from multiple tier-1 providers, using ECN-like, STP (straight-through processing) pricing, meaning no price interference.
Operating on the prime of prime model of trade clearing and pricing aggregation allows Eightcap to better spread risk, exposure, and pricing throughout more participants in the underlying markets, whilst minimising costs that are passed on.
For ECN-type accounts, Eightcap has competitive spreads compared to other brokers as highlighted below. This module captures the average spreads that brokers publish on their website, which is updated each month.
|
ECN Broker Spreads
|
|||||
|---|---|---|---|---|---|
|
0.23 | 0.20 | 0.06 | 0.42 | 0.27 |
|
0.47 | 0.50 | 0.12 | 0.40 | 0.22 |
|
0.03 | 0.11 | 0.02 | 0.19 | 0.05 |
|
0.14 | 0.25 | 0.02 | 0.27 | 0.17 |
|
0.30 | N/A | 0.30 | 0.50 | 0.40 |
|
0.20 | 0.83 | 0.44 | 0.40 | 0.42 |
|
0.24 | N/A | 0.17 | 0.54 | 0.30 |
|
0.30 | 0.70 | 0.20 | 0.50 | 0.40 |
|
0.30 | 1.10 | 0.10 | 0.60 | 0.50 |
|
n/a | 0.30 | n/a | 0.60 | 0.50 |
|
0.77 | 1.41 | 0.44 | 1.13 | 1.23 |
Avg. spreads are taken from each broker's website and updated monthly. Last update on 01/09/2023
Compare Lowest Spread Forex Brokers
Trading Platforms and Plugins
MetaTrader 4 and 5 are the two main trading platforms Eightcap offers. The main difference is in tradeable markets and device versatility. MT5 offers more markets and is available as WebTrader, while both MT4 and MT5 can be used via desktop or mobile.
As highlighted above, MT5 is particularly suited to CFD trading and a greater range of markets to trade. If you intend to trade cryptos, you are better to choose MT5. MT4 is still a great option and suited for Forex trading.
Eightcap also offers a suite of plugins from FX Blue Labs that enhance the standard MetaTrader platform suite. It also supports integration with Capitalise.ai, a third-party platform allowing algorithmic trading within your MT4/5 account without requiring any programming or coding experience.
Ever-growing Range Of New Features: Cryptocrusher and Amazing Trader
Cryptocrusher is a new trading tool specifically designed to enhance your crypto trading experience with precise entry, target and stop levels, market trend analysis, exclusive indicators and a 24-hour chat room to discuss your trades.
Amazing Trader is a new charting algo platform in partnership with Eightcap offering 3 trading strategies for FX, indices, cryptos and metals along with built-in, automated risk management. You can try the platform for free with their 28-day success program. Note, you must maintain an account balance of $500 or more to use this Amazing Trader.
Forex Panel Score
Average Spread
EUR/USD = 0.1
GBP/USD = 0.6
AUD/USD = 0.3
Trading Platforms
MT4, MT5, cTrader, TradingView, Capitalise.ai
Minimum Deposit
$0
Why We Recommend Pepperstone
Pepperstone offers a wide selection of external platforms for CFD trading. In addition to the well-known MetaTrader 4 and 5 platforms, Pepperstone now provides the popular scalping platform cTrader and the chart trading platform TradingView. The broker offers great customer service around-the-clock throughout the work week and 18 hours of coverage on weekends.
Pros & Cons
Broker Details
Pepperstone Offers a Wide Array Of Choices For CFD Trading
As a broker, Pepperstone has a diverse range of third-party platforms for CFD trading options.
In addition to the popular MetaTrader 4 and 5 platforms, Pepperstone also offers cTrader, which is popular for scalping, and TradingView for chart trading.
Pepperstone also has excellent customer support hours including 18-hour coverage on weekends in addition to 24/5 during the working week.
Clients in Malaysia will be registered with Pepperstone Markets Limited which is the broker’s Bahamas subsidiary. This subsidiary is regulated by The Securities Commission of The Bahamas,( SIA-F217).
Low Spreads and Superior Trading Conditions
Similar to Eightcap, Pepperstone sources pricing from multiple Tier 1 liquidity providers, meaning prices are similar to what the institutions get themselves which translates to lower spreads across the board.
You can also lock in prices at speeds of under 30ms due to Pepperstone having servers in the NY4 Equinix data centres, which also results in less risk of slippage.
Commissions and Fees
Pepperstone offers two main account types: Standard (no commissions) and Razor (spread-based).
The Razor account, suited to experienced traders, has competitive spreads, averaging at less than 0.5 pips for EUR/USD, with commissions at industry standard rates.
You also have the option of either using the MetaTrader or cTrader platform with Razor. MetaTrader is best for Forex or CFD trading whilst cTrader is suited for algorithmic traders.
Pepperstone’s Standard account is amongst the most competitive commission-free account of all brokers, with average spreads as low as 1.0 pips.
Pepperstone has amongst the best spreads for standard accounts as highlighted below.
Despite not being a market maker, Pepperstone’s spreads are competitive against market maker brokers such as IG Markets and CMC Markets.
|
Standard Account Spreads
|
|||||
|---|---|---|---|---|---|
|
|
1.12 | 1.22 | 1.40 | 1.69 | 1.47 |
|
|
0.62 | 0.77 | 1.27 | 0.83 | 0.74 |
|
|
0.93 | 0.92 | 0.98 | 1.08 | 1.02 |
|
1.00 | 1.00 | 1.50 | 2.00 | 1.00 |
|
1.20 | 0.90 | 1.50 | 1.80 | 1.80 |
|
1.20 | 1.40 | 1.50 | 1.60 | 1.50 |
|
1.10 | 1.20 | 1.40 | 1.50 | 1.20 |
|
1.10 | 1.30 | 1.30 | 1.30 | 1.30 |
|
|
1.20 | 1.30 | 1.20 | 1.30 | 1.10 |
|
1.70 | 1.60 | 1.70 | 2.00 | 1.60 |
|
1.20 | 1.80 | 1.90 | 1.90 | 1.60 |
Avg. spreads are taken from each broker's website and updated monthly. Last update on 01/09/2023
Compare Lowest No Commission Spreads
If you are a trader of the Muslim faith, you may be aware that swaps or overnight fees don’t comply with sharia law since this is a type of riba. To solve this, Pepperstone also has a swap-free account. This account is the same as the standard account but replaces swaps with an admin fee.
The admin fee is applied on every 11th day you hold an open position and the amount you pay varies between trading instruments. Most major forex pairs will incur a charge of USD50 for each lot.
Trading Products
Pepperstone has a solid range of markets one can trade. 62 currency pairs are available which comprise major, minor, exotics, and cross pairs. This range means Pepperstone has one of the more comprehensive selections of pairs of any broker. Leverage is up to 500:1.
Trading Platforms and Additional Trading Tools
Pepperstone offers MT4, MT5, cTrader, and TradingView trading platforms that are enhanced with a range of useful third-party trading tools and plugins.
Traders using MT4 or MT5 will benefit from Smart Trader Tools and Figaro Advanced Tools, which offer advanced customisation, that comprises expert advisors for extra indicators and add-ons for deeper analysis.
Autochartist is also available as an intuitive charting package to capitalise on high probability trades and can be used with MetaTrader and cTrader platforms.
TradingView is a relatively new introduction to the Pepperstone suite of platforms. This platform allows advanced charting for deeper analysis, you can even trade directly through the chart. The other notable feature is the ability to share your trades and see what others are trading through the TradingView social network.
Social Trading Platforms
Pepperstone provides plenty of choice with three great copy (or social) trading platforms: myFxbook (for MetaTrader), DupliTrade (for cTrader and MetaTrader) as well as MetaTrader’s Native Trading Signals platform.
Forex Panel Score
Average Spread
EUR/USD = 0.02
GBP/USD = 0.23
AUD/USD = 0.17
Trading Platforms
MT4, MT5, cTrader
Minimum Deposit
$0
Why We Recommend IC Markets
IC Markets is a CFD broker that provides all the necessary components for algorithmic trading, including cheap cost, a selection of execution strategies, and support for Virtual Private Servers (VPS). Algorithmic trading is supported via the broker’s desktop version of MetaTrader, and the cTrader suite of trading tools includes tools like cAlgo for automatic trading and cTrader Copy for social copy trading. With cheap spreads, quick execution, and excellent supplementary trading tools, IC Markets is also regarded as one of the best MetaTrader brokers.
Pros & Cons
Broker Details
IC Markets Has The Elements Needed For Automated Trading
Combining low cost, a variety of execution methods, and support for Virtual Private Servers (VPS), IC Markets has all the right ingredients for algorithmic trading for CFDs.
The broker offers a desktop version of MetaTrader that supports algorithmic trading, and the cTrader suite includes trading applications such as cAlgo for automated trading and cTrader Copy for social copy trading.
IC Markets is also considered a top MetaTrader broker with competitive spreads, fast execution, and great additional trading tools.
Commissions and Fees
IC Markets offers competitive pricing across all account types with low average spreads.
Like Eightcap and Pepperstone, you have a choice between a Standard (no commission) and Raw Spread (spread-based) account. With Raw Spread, IC Markets also gives you the option of either MetaTrader or cTrader platforms.
A swap-free (or Islamic) account option is also available for those unable to earn or pay interest due to their religious beliefs. Unlike Pepperstone, IC Market allows you to use either the Standard or Raw Spread MetaTrader accounts.
Clients with IC Markets will be signed in with its subsidiary based in Seychelles known as Raw Trading Ltd. This subsidiary is regulated by the Financial Services Authority of Seychelles with License number: SD018.
Trading Products
Using MT5, you can trade a substantial range of over 1600 Stock CFDs, in addition to 61 Forex currency pairs and a smattering of cryptos, commodities, bonds, indices, and futures options. Leverage with forex can be up to 500:1.
Trading Platforms
IC Markets has a great range of trading platforms overall.
In addition to MT4, MT5, and cTrader and their plugin enhancements, the broker also offers Myfxbook and ZuluTrade for social and copy trading.
ZuluTrade boasts one of the largest networks of copy traders globally and can also integrate with MT4 or MT5 with over 3500 trading symbols available and plenty of trading signals to follow.
Myfxbook Autotrade is another social copy option, particularly suited for algorithmic traders.
Forex Panel Score
Average Spread
EUR/USD = 0.13
GBP/USD = 0.21
AUD/USD = 0.12
Trading Platforms
MT4, MT5, cTrader
Minimum Deposit
$0
Why We Recommend Fusion Markets
Fusion Markets offers the lowest commissions, with $0 costs for Classic accounts and as little as $4.50 (round turn) for $0 accounts. The broker also offers zero fee trading on a large selection of US share CFDs, significantly reducing their trading costs. Fusion Markets offers the greatest trading options of any broker on this list with over 90 different Forex currency pairs, reasonable spreads, and high leverage of up to 500:1.
Pros & Cons
Broker Details
Fusion Markets Features Low Commission Accounts And No Deposits
Fusion Markets offers the lowest commissions of any broker, featuring zero commissions for their Classic account and as low as $4.50 (round turn) for their Zero account.
In addition, you can trade a wide variety of US share CFDs with zero commissions with Fusion, further lowering their trading costs.
The broker also has competitive spreads, a huge range of over 90 Forex currency pairs to trade, the most of any broker on this list, and high leverage of up to 500:1.
Commissions and Fees
The account choices you have are Classic (no commissions) or Zero (spread-based), which has the lowest commissions of any broker on this list.
Fusion Markets also boasts no deposit fees and no minimum account size, lowering the trading barriers to entry.
There are multiple e-payment options available, which includes local transfer from Malaysian bank accounts.
The broker serves its clients through Fusion Markets International Ltd which is regulated by the Financial Services Authority of Seychelles with licence number SD096.
Trading Platforms
Like Eightcap, Fusion Markets is a MetaTrader specialist, offering both MT4 and MT5, which are available on all devices and as a webtrader.
A unique benefit of Fusion Markets is that the MT5 platform is provided by MetaQuotes, which is powered by Fusion Markets themselves, giving the broker a competitive advantage when it comes to multi-asset trading.
The social trading options include Myfxbook (for algorithmic trading) and DupliTrade (copy trading for MT4). Additional tools include a Sponsored VPS (Virtual Private Server) for virtual trading. It also features a multi-account manager for fund managers juggling multiple clients or accounts/portfolios.
Forex Panel Score
Average Spread
EUR/USD = 0.09
GBP/USD = 0.14
AUD/USD = 0.13
Trading Platforms
MT4, xStation 5
Minimum Deposit
$0
Why We Recommend XTB
XTB is a reputable multi-asset broker that provides a broad range of FX and CFDs through their superior internal xStation 5 trading platform. The feature-rich xStation 5 platform from XTB offers exceptional usability thanks to its simple design and wide range of effective trading tools and features. Last but not least, XTB provides exceptional customer service along with top-notch training materials to improve your trading experience.
Pros & Cons
Broker Details
XTB Allows Trading With A Vast Selection Of CFD Products
As a trusted multi-asset broker, XTB offers a wide variety of forex and CFDs via their excellent in-house xStation 5 trading platform.
XTB’s feature-rich xStation 5 platform provides excellent usability with its minimalist design alongside a robust selection of powerful trading tools and features.
Lastly, XTB offers outstanding customer service, including excellent educational resources to enhance your trading experience.
Commissions and Fees
XTB offers one main account type, their no commissions Standard account, in addition to a swap-free account.
Average minimum spreads are low at 0.5 pips and Forex, Indices, Commodity, and Cryptocurrency CFDs incur no commission fees, while stock and ETF CFDs also have relatively low commissions, from 0.16% round turn.
Malaysian clients will be signed up to XTB International Limited (XTB) which is regulated by the International Financial Services Commission in Belize. (IFSC Licence No.: 000302/185).
Top Proprietary Trading Platform
While XTB does not offer MT4, the broker’s proprietary xStation 5 platform is strong in its own right. XTB Station is available as webtrader, tablet, on desktop, or via mobile app.
The xStation 5 mobile app mirrors its web counterpart and is cleanly designed with features such as streaming news, predefined watchlists, an economic calendar, top movers, and client sentiment data.
xStation 5 comes with 37 technical indicators and 29 drawing tools along with highly customisable charts for personalisation. Multiple workstations are also available so you can configure your login set up to your liking. 3 order types are available – Market, Limit and Stop so the ability to set stop loss and take profit orders is available.
The advantages of xStation 5 are the inclusion of in-house analytics by the XTB analysts. News, economic calendars, and market sentiment tools are also included.
While the platform does lack automation and backtesting, the platform overall is an excellent choice to trade with XTB’s wide range of CFD products.
Excellent Educational Resources
XTB stands out in its educational offering, thanks to its extensive written content, video materials, and archived webinars. These are incorporated throughout its platform suite and website, sorted by topic or experience level.
In addition, there are 200 lessons available in XTB’s Trading Academy, including ten lessons that cover forex and CFD education. Each category features quizzes to test your knowledge.
Forex Panel Score
Average Spread
EUR/USD = 1.0
GBP/USD = 2.0
AUD/USD = 1.0
Trading Platforms
eToro Trading Platform
Minimum Deposit
$50
Why We Recommend eToro
eToro is a well-known Israeli fintech business and the finest social trading broker on this list. In addition to CopyTrader and CopyPortfolios, eToro offers a proprietary trading platform. You can replicate successful traders’ trades on both platforms, and you can also choose to reveal your trading methods in exchange for special benefits.
Pros & Cons
Broker Details
eToro Is Known for Having The Best Social Network for Copy Trading
A trusted Israeli fintech startup, eToro is the best social trading broker on this list, particularly due to its proprietary trading platform in addition to CopyTrader and CopyPortfolios.
CopyTrader is for individual trades while CopyPortfolios is for a group of investments (or portfolio). Both platforms allow you to copy the trades of experienced investors. There is also the option to share your trading strategies and receive exclusive perks.
The broker serves Malaysian clients through eToro (Seychelles) Ltd which is regulated by the Financial Services Authority Seychelles (“FSAS”) with License #SD076
Commissions and Fees
eToro has one account, their Standard account, with no commissions.
The broker also has zero commissions for US stock trading, like Fusion Markets, further lowering their trading costs.
Another unique benefit, 100,000 USD is credited into a virtual portfolio (like a demo account) once you open an account with eToro.
eToro CFD Products
You can trade a wide range of products with eToro. Nearly 50 forex pairs are available which includes all the major traded pairs. Leverage can be up to 400:1 which is slightly lower than some other brokers on this list but more than adequate for most traders.
Of particular note is the large range of cryptos, ETFs and commodities.
Trading Platforms
eToro’s proprietary platform is flexible as webtrader or via trading apps on android or iOS. The broker manages to merge self-directed trading and copy trading under a unified trading experience.
The platform is easy-to-use and delivers an overall excellent mobile experience. With almost all the same features across both its web platform and its mobile app, it will suit multi-device clients.
*Your capital is at risk ‘68% of retail CFD accounts lose money’
We focused on comparing forex brokers for Malaysian traders that had tier 1 regulation in locations such as Australia, NZ, Singapore of the UK. This is because local Malaysian brokers are rare and offer a limited range of markets (such as share CFDs). All brokers accept CFD traders from Malaysia and have protections in place such as negative balance protection to mitigate extreme trading risk.
Ask an Expert