| Updated: December 20, 2024- Jump to:
- Main features of the best Malaysia Forex brokers
- Forex Brokers in Malaysia Compared by Spread
- Account Types and Commissions
- Forex Legislation
- Financial Regulators
- Payment Methods
- Trading Software
- Mobile Trading
- FAQ
Our team of expert traders tested many regulated and trustworthy forex brokers that accept traders from Malaysia and compiled a toplist with the best among them. Each broker operating in Malaysia received a quality score based on several factors, including Trustpilot rating, regulation, fees and commissions, available trading platforms, customer service and more.
Fusion Markets74-89% of retail CFD accounts lose money- AxiThe vast majority of retail client accounts lose money
- FP Markets73.85% of retail investor accounts lose money
- Pepperstone75.5% of retail investor accounts lose money
- Global Prime74-89% of retail CFD accounts lose money
- XM Group72.82% of retail investor accounts lose money
Below you can find a comprehensive comparison table of forex brokers for traders in Malaysia. We rank them based on several factors including: regulation, spreads and commissions, Trustpilot rating, trading instruments, trading platforms, deposit and withdrawal methods.
Main features of the best Malaysia Forex brokers
- Min Deposit$0Trading InstrumentsForex, Commodities, Indices, Crypto, US StocksRegulatorsASIC, FSA (Seychelles), VFSC (Vanuatu)Trading PlatformsMetaTrader4, MetaTrader5, cTrader, DupliTrade, Fusion+ Copy Trade, TradingViewSpread0.9 pips Classic; 0.0 pips ZeroLeverage1:30 (1:500 for forex and metals via VFSC)Deposit MethodsVisa, Mastercard, PayPal, Skrill, Neteller, Fasapay, Jeton Wallet, Perfect Money, Online Naira, Doku, Bitcoin, Ethereum, Litecoin, USDT, Tether, Ripple, bank wire, ZotaPay, VNPay, DuitNow, XPay, DragonPay, VAPay, FasaPay, AstroPay, PayID, Jetonbank, Sticpay, Interac, LuqaPay, Zotapay, MiFinityWithdrawal MethodsVisa, Mastercard, Bank Wire, Skrill, Neteller,Bitcoin, Ethereum, Litecoin, Tether, Ripple, MiFinity, Interac, PayPal, AstroPay, Jetonbank, DragonPay74-89% of retail CFD accounts lose money
This Vanuatu-licensed broker offers competitive spreads on USD/JPY and EUR/USD for Zero accounts that start from 0.0 pips. The average spreads for the two popular pairs are 0.17 pips and 0.03 pips, respectively. Malaysian traders with Zero accounts incur a $2.25 commission per side per lot. Standard accounts facilitate commission-free forex trading but have a 0.9-pip markup added to the raw spreads. Malay customers can use maximum leverage of 1:500 and top up their balance using local methods like FPX, DuitNow, and XPay.
- Min Deposit$0Trading InstrumentsForex, Indices, Commodities, Cryptocurrencies, Share CFDs, ETFsRegulatorsUK FCA (No.684312), CySEC (No. 388/20), ASIC (No. 414530), BaFin (No.151148), DFSA, CMA, SCB (Bahamas)Trading PlatformsTradingView, MT5, MT4, cTraderSpreadFrom 0.0 pips (Razor Accounts), 1 pip (Standard Accounts)Leverage1:30Deposit MethodsVisa, Mastercard, PayPal, Bank Transfer, BPay, Neteller, SkrillWithdrawal MethodsVisa, Mastercard, PayPal, Bank Transfer, BPay, Neteller, Skrill75.5% of retail investor accounts lose money
Over 90 currency pairs, including EUR/USD and USD/JPY. Maximum forex leverage of 1:200. Average Razor spreads for the two pairs are roughly 0.0 and 0.4 pips, with $7 round-turn commissions per standard lot for MT4/MT5 and TradingView and $6 for cTrader. Standard account users pay no commissions but their average spreads for the two pairs are higher at 1.0 and 1.4 pips. Malays are eligible for swap-free accounts with $0 commissions and a $100 administrative fee on overnight positions held for 5 days.
- Min Deposit$50Trading InstrumentsCFDs on Indices, Forex, Shares, Crypto, Futures, Commodities, Options, Interest Rates, Sectors, Bonds, Knock-out tradingRegulatorsASIC, FCA, DFSA, CFTC, FMA, FINMA, BaFin, MAS, JFSA, FSCA, BMA (Bermuda)Trading PlatformsMT4, L2 Dealer, ProRealTime, IG proprietary software, TradingViewSpread0.6 pips CFD trading; 0.165 pips DMA tradingLeverage1:30Deposit MethodsVisa, Mastercard, Bank Transfer, Wire Transfer, Visa Electron, Discover, PayPal, Apple Pay, BPAYWithdrawal MethodsVisa, Visa Electron, Mastercard, Discover, Bank Transfer70% of retail client accounts lose money
Provides over 100 forex CFDs, forex options, and knock-outs for major pairs. Trading forex majors like EUR/USD and USD/JPY outside regular market hours is possible. Minimum spreads for EUR/USD and USD/JPY are 0.6 and 0.7 pips, while averages are around 1.04 and 1.26 pips. Spreads are higher for out-of-hour positions and start from 4 pips for USD/JPY trades on weekends. MT4, ProRealTime, and L2 Dealer ($2,000 min. balance) are supported. Margin requirements range from 0.50% to 15% based on the currency pair.
- Min Deposit$50 (AU$100)Trading InstrumentsForex CFDs, Shares CFDs, Metals CFDs, Commodities CFDs, Indices CFDs, Crypto CFDs, ETF CFDsRegulatorsASIC, CySEC, FSA (Seychelles), FSCA, FSA (St. Vincent and the Grenadines)Trading PlatformsMetaTrader4, MetaTrader5, WebTrader, IRESS, cTrader, TradingViewSpread1.0 pips Standard; 0.0 pips RawLeverage1:30Deposit MethodsVisa, Mastercard, Neteller, Bank Transfer, Skill, Sticpay, Fasapay, Virtual Pay, Perfect Money, Pagsmile, Dragonpay, Crypto, Apple Pay, Google Pay, Online Banking, Broker to Broker, PayPal, XPay, RapydWithdrawal MethodsVisa, Mastercard, Bank Wire, Neteller, Skrill, Paytrust88, PayPal73.85% of retail investor accounts lose money
EUR/USD and USD/JPY traders with Raw accounts can place orders with minimum spreads from 0.0 pips and average spreads of 0.1 and 0.3 pips. Raw spreads come at the cost of nominal round-turn commissions of $6 per lot. Standard accounts do away with commissions but have higher average spreads of 1.2 and 1.4 pips. Malay customers are eligible for MT4/MT5 Islamic accounts. Forex leverage reaches 1:500. Malay traders can deposit in ringgits using Monetix Wallet, Echelon Pay, Payment Asia, and XPay.
- Min Deposit$0Trading InstrumentsForex, Cryptocurrencies, Indices, Commodities, BondsRegulatorsASIC (No. 385620), VFSC (No. 40256)Trading PlatformsMT4 Desktop, MT4 Webtrader, MT4 AndroidSpread0.9 pips Standard, 0.0 pips RawLeverage1:500 (1:30 for ASIC entity)Deposit MethodsVisa, Mastercard, PayPal, Skrill, Neteller, Gate8, Dragonpay, Fasapay, VNPay, Pagsmile, BPay, POLi, AstroPay, Bank Transfer, Interac, Perfect Money, PayID, Jeton, MiFinity, XPay, CryptoWithdrawal Methods
Mastercard, Visa, Local Bank Transfer, Bank Wire Transfer, Skrill, Neteller, AstroPay, PayPal, Dragonpay, Perfect Money, Jeton, Interac, Cryptocurrencies
74-89% of retail CFD accounts lose moneyOffers Standard and Raw accounts. Raw accounts have minimum spreads from 0.0 pips on EUR/USD and USD/JPY, with average spreads of around 0.06 and 0.57 pips. There are round-turn commissions of $7 per lot. Standard accounts enable commission-free forex trading at the expense of a 0.9-pip markup added to the raw spreads. Maximum leverage of 1:500 is available, with a 20% margin stop-out level. Malay customers can trade via MT4 and fund their balance in ringgits with familiar methods like XPay and Gate8.
- Min Deposit$200Trading InstrumentsCFDs on Forex, Commodities, Index, Bond, Cryptocurrencies, Stock, FuturesRegulatorsFSA (Seychelles), CySEC, ASICTrading PlatformsMetaTrader4, MetaTrader5, cTrader, ZuluTradeSpread0.8 pips Standard, 0.0 pips Raw AccountsLeverage1:30Deposit MethodsBank transfer, Visa, Mastercard, PayPal, Skrill, Neteller, Visa Direct, SafeCharge, Transact365, eCommPay, CardPay, Bpay, FasaPay, Poli, RapidPay, Klarna, NuveiWithdrawal MethodsBank transfer, Visa, Mastercard, PayPal, Skrill, Neteller, Visa Direct, SafeCharge, Transact365, eCommPay, FasaPay, Poli, RapidPay, Klarna70.64% of retail investor accounts lose money
Over 61 currency pairs are available, with the option to choose between Standard and Raw accounts. Raw accounts come with lower average spreads of 0.14 pips on USD/JPY and $7 round-turn commissions per lot for MetaTrader ($6 for cTrader). Standard accounts lack commissions but charge higher average spreads for USD/JPY of around 0.94 pips. The broker enables swap-free trading via Islamic accounts where overnight USD/JPY positions incur a $9 administrative fee per lot. Leverage of up to 1:1000 on forex majors.
- Min Deposit$50 or $100 based on country ($10 for the UK)Trading InstrumentsCrypto, CFDs on Forex, Stocks, Commodities, Crypto, ETFs, and IndicesRegulatorsFCA, CySEC, ASIC, MFSA, ADGM, FSA, FINRA/FinCEN, AMF, SEC, GFSCTrading PlatformseToro Investing, eToro App, TradingView, eToro CopyTraderSpread1 pipLeverage1:30Deposit MethodseToro Money, Visa, Mastercard, Neteller, PayPal, Skrill, iDeal, Klarna, Bank Transfer, Trustly, Przelewy24Withdrawal MethodsPayPal, Skrill, Visa, Mastercard, Neteller, Trustly, Bank Transfer51% of retail investor accounts lose money
Provides robust copy and social trading services, allowing clients to trade over 55 currencies via eToro’s proprietary platform. The broker offers spreads from 1 pip for USD/JPY and EUR/USD, and from 2 pips for GBP/USD. There are no commissions on CFD trading. Maximum leverage goes all the way up to 1:400 for majors and 1:50 for other pairs. Malay customers can practice via demo accounts loaded with $100,000 in virtual funds. Minimum deposits start from $50 ($500 for bank transfers).
- Min Deposit$5Trading InstrumentsForex, Stocks, Indices, Commodities, Thematic IndicesRegulators(ASIC) (ref. No. 443670), FSC (license no. 000261/397), DFSA (ref. no. F003484), CySEC (license no. 120/10), CFTC; Registrations for EU passporting: - BaFin, CNMV, MNB, CONSOB, ACPR, FIN-FSA (Finland), KNF, AFM, FSA (Sweden)Trading PlatformsMetaTrader 4 and 5, MetaTrader 4 and 5 on mobile, MT4 WebTrader, MT5 WebTrader, MT4 MultiterminalSpreadFrom 0.0 pips (Zero Account), 0.6 pips (Standard and Micro Accounts)Leverage1:30Deposit MethodsVisa, Mastercard. Skrill, Bank Transfer, Neteller, Apple Pay, Google Pay, UnionPay, MaestroWithdrawal MethodsVisa, Mastercard, China Union Pay, Skrill, Neteller, Bank Transfer72.82% of retail investor accounts lose money
Available in Malay, XM caters to local traders with over 50 currency pairs and leverage of up to 1:1000 (1:400 for minor pairs). Standard accounts offer minimum spreads from 1.6 and 2.0 pips for EUR/USD and USD/JPY. Ultra Low accounts come with narrower minimum spreads of 0.8 and 0.9 pips for the two pairs. Both account options require minimum deposits of $5, support hedging, and offer negative balance protection. Licensed by the FSC (Belize).
- Min Deposit$0 ($25 for Trustly, Visa, Mastercard)Trading InstrumentsRegulatorsFCA, CFTC, KNF, MAS, IIROC, MASASIC, FSA (Japan), FSC (British Virgin Islands)Trading PlatformsMT4, TradingView, Oanda WebSpreadFrom 0.6 pips (Standard Account), 0.1 pips (Commision Account)Leverage1:50Deposit MethodsVisa, MasterCard, Credit & Debit Cards, Bank Wire, Skrill, NetellerWithdrawal MethodsVisa, Bank Wire, Credit & Debit Cards, Skrill, Neteller72% of retail CFD accounts lose money
Malay traders will benefit from a website in their native language and narrow spreads for 48 currency pairs. Leverage ratios range from 1:5 to 1:200, depending on position size. Two main account types are available, spread-only and commission plus core pricing. Spread-only accounts offer spreads from 1.1 and 1.0 pips for USD/JPY and EUR/USD, while commission-based accounts have lower spreads of 0.1 pips for the two pairs. Platform options include MT4, MT5, and fxTrade (proprietary).
Forex Brokers in Malaysia Compared by Spread
| Broker | EUR/USD | USD/JPY | GBP/USD | USD/CHF | AUD/USD | EUR/GBP | USD/CAD |
|---|---|---|---|---|---|---|---|
| 1. Fusion Markets | 0.07 | 0.13 | 1.01 | 0.37 | 0.90 | 0.23 | 0.14 |
| 2. Global Prime | 0.13 | 0.28 | 1.11 | 0.34 | 0.07 | 0.28 | 0.26 |
| 3. IC Markets | 0.8 | 0.8 | 0.8 | 0.8 | 0.8 |
| 0.8 |
| 4. XM Group | 0.8 | 0.9 | 0.9 | 2.1 | 0.75 | 1.5 | 2.4 |
| 5. IG | 0.85 | 0.9 | 1.40 | 1.95 | 1.01 | 0.9 | 2.1 |
| 6. eToro | 1.0 | 1.0 | 2.0 | 1.5 | 1 | 1.5 | 1.5 |
| 7. Pepperstone | 1.00 (min) | 1.0 | 1.00 (min) | 1.1 | 1.2 | 1.2 | 1.42 |
| 8. FP Markets | 1.1 | 0.30 | 1.2 | 1.8 | 1.2 | 0.20 | 1.5 |
| 9. Oanda | 1.6 | 1.8 | 2.1 | 1.6 | 1.2 | 1.3 | 1.9 |
Account Types and Commissions
| Broker | Min Deposit | Account Types | Commission per Lot | Trustpilot Rating |
|---|---|---|---|---|
| 1. Fusion Markets | $0 | Zero, Classic, Islamic, Demo, Professional | $0 Classic Account, $4.50 round turn on Zero Account | 4.9 |
| 2. FP Markets | $50 (AU$100) | Standard, Raw, Demo, Professional, Islamic | $0 Standard Account; $6 round turn on Pro Account | 4.7 |
| 3. Pepperstone | $0 | Standard Account, Razor Account | $0 (Standard Account), $7 round-turn (Razor Account) | 4.6 |
| 4. Global Prime | $0 | Standard, Raw, Demo, Professional, Islamic | $0 Standard Accounts; $7 round turn on Raw Accounts | 4.5 |
| 5. IC Markets | $200 | Raw Spread cTrader, Raw Spread MT, Standard MT | $0 Standard MT; $6 round turn on Raw cTrader; $7 round turn on Raw MT | 4.5 |
| 6. eToro | $50 or $100 based on country ($10 for the UK) | Crypto Wallet, Retail, Professional, Corporate, Demo, Islamic | $0 | 4.2 |
| 7. Oanda | $0 ($25 for Trustly, Visa, Mastercard) | Standard account | $3.50 on Zero Accounts | 4.1 |
| 8. IG | $50 | Spread Betting Account, CFD Trading Account, Limited Risk Account, Islamic, Professional, Demo, Options and Share Dealing Accounts* | $0 | 3.7 |
| 9. XM Group | $5 | Ultra Low Micro, Ultra Low Standard, XM Zero | $0 Ultra Low Micro and Ultra Low Standard Accounts; $3.50 per side XM Zero Account | 2.9 |
Malaysia is a federal constitutional monarchy in Southeast Asia with a population of 32.4 million and a gross domestic product of US$354.3 billion for 2018. The country’s economy has undergone a dramatic transformation over the last five decades, from one that relied primarily on exports like tin and rubber to one that is among the fastest-growing in this region.
An attractive investment destination, Malaysia appeals to foreign investors with its developed infrastructure, political stability, and undervalued currency, the Malaysian ringgit (MYR). The country boasts a thriving financial sector as its government has adopted policies that aim at promoting foreign investments and market competition.
The capital Kuala Lumpur is home to the Kuala Lumpur Commodity Exchange (KLCE) and Bursa Malaysia, the local stock exchange whose main index is the Kuala Lumpur Composite Index (KLCI). The KLCI has a market cap of US$397 billion and tracks the performance of thirty large companies, including Axiata Group Berhad, AMMB Holdings Berhad, and Digi.com Berhad.
Malaysia has established a strong trading partnership with other Asian countries like South Korea, Thailand, Taiwan, Singapore, Japan, and China, although it also has a prominent partner in the face of the United States. All these factors have shaped Malaysia into an investor-friendly country.
Until recently it was illegal for Malaysians to trade on the Forex markets. However, due to the immense interest on behalf of residents, the country’s authorities introduced a new set of rules to regulate these activities on a local level. Malaysian retail traders can use the services of brokerage firms as long as they are locally licensed and compliant with the country’s laws.
Malaysia Forex Legislation
Trading currency pairs is a popular activity among Malaysia’s residents. Internationally licensed brokerages can service customers from the country but it is still recommended for them to receive the authorization of the local regulator, the Securities Commission of Malaysia (SCM).
Several pieces of legislation have shaped the financial sector in the country, starting with the Exchange Control Act of 1953. This legislation introduced a set of guidelines on how Malaysian residents can trade with commodities like precious metals, foreign currencies, and securities. It also outlines the restrictions applying to such trading activities. Additionally, it regulates the import and export of commodities.
The second important piece of legislation in the country is the 1993 Securities Commission Act, which led to the establishment of the Securities Commission of Malaysia (SCM). This legislation authorizes SCM to issue licenses and supervise companies that deal in securities.
Then there is the 1998 Money Changing Act that all foreign exchange brokers looking to operate on Malaysian soil must abide by. This legislation also outlines that the Forex trading sector is not regulated by the country’s central financial institution, Bank Negara Malaya (BNM).
To prevent confusion, we should specify that the BNM is tasked with the regulation of the local currency MYR. It also licenses exchange businesses but without regulating the trading activities themselves.
The Capital Markets and Services Act consolidated the Securities Industry Act of 1983. It took effect in September 2007. The main idea behind it was to introduce a unified licensing system for capital market intermediaries that deal in securities and derivatives.
The Malaysian Securities Commission introduced new regulatory guidelines in the summer of 2018, aimed particularly at trading with derivatives like the CFD. Under these rules, companies that offer CFDs to local traders are required to obtain a license for dealing with derivatives by the SCM.
This move was intended to bring in more international Forex and CFD brokers who would seek to obtain licenses from the local regulatory authority. Respectively, licensed CFD brokers must adhere to various financial requirements.
For example, such firms are expected to have at least RM10 million in paid-up capital, which corresponds approximately to US$2.5 million. The companies must also meet the minimum stipulated threshold for adjusted net capital. The latter should exceed the amount of RM500,000, or around US$124,000.
Firms that already are authorized to provide Forex trading in the country can offer CFDs with their existing licenses as long as they notify the regulator they intend to do so. There is no need for them to apply for a separate derivatives license. Meanwhile, brokerages that want to offer solely CFD trading must comply with slightly different requirements. For instance, they should always have at least 50% of their shareholders’ money as liquid capital.
In line with the regulatory frameworks worldwide, CFD brokers are expected to educate their customers so that they better understand the risks inherent to this financial instrument. All licensed firms should contribute to the regulator’s Capital Market Compensation Fund. The latter is intended as a means of recourse in case a broker bankrupts.
This way affected traders will get their funds back. Each company should contribute RM30,000 (US$7,500) to the compensation fund upon receiving its license, but there is also a yearly fee of RM5,000 (around US$1,250). The minimum margin requirements are 20% for non-index shares, 10% for index shares, and 5% for index CFDs.
Malaysia Financial Regulators
There are several entities that oversee the financial sector in the country, starting with Bank Negara Malaysia (BNM). This entity was founded in January 1959 and has its headquarters in the Malaysian capital of Kuala Lumpur. Its chief responsibility is to control all aspects related to the local currency, the Malaysian ringgit (MYR).
The ringgit was initially pegged at a fixed exchange rate against the USD as a means to cope with its significant depreciation after the Asian financial crisis of 1997. The central bank decided to abandon the peg for a floating exchange rate system in the summer of 2005. The ringgit gradually appreciated in relation to the USD in the years to follow. The central bank is also actively engaged in foreign exchange trading activities within Malaysia.
The Securities Commission of Malaysia (SCM) is the primary overseer of Forex trading in the country. It was established in 1993 after the enforcement of the Securities Commission Act. The SCM accounts directly to the Malaysian Ministry of Finance and is mandated with the regulation of companies that deal with securities and futures contracts on Malaysian soil.
Then there is the Shariah Advisory Council of the BNM, which was founded in May 1997. Its mandate is to ensure compliance with the Shariah banking principles. This is necessary since the official religion in the country is Islam.
Over 61% of the Malaysian population is Muslim. Respectively, foreign exchange brokers operating in the country must be Shariah-compliant and offer Islamic accounts to their local customers. These accounts are swap-free meaning that they are exempt from overnight interest rates in line with the Shariah principles.
Malaysia Forex Payment Methods
Nearly all brokers that operate on the Malay market offer their customers the option to sign up for demo accounts, topped up with virtual credits they can use to practice and test strategies. In many cases, traders can refill their demo balance as many times as they wish.
For real trading, however, you need to open a live account and deposit funds to its balance. There are several ways to do this but most Malaysian traders prefer to use their cards, with Visa, Maestro, and Mastercard being the most broadly available options.
Some Malay-friendly brokers also accept UnionPay credit/debit cards. Malay traders can apply for one at a branch of Public Bank Berhad or AmBank, both of which are authorized to issue UnionPay cards. The exact waiting time depositors must endure depends on the particular banks.
When using a card, you must open the deposit page of the broker and select this method from the list of supported options. You then complete the operation by entering your card’s number, its expiry date, your name, and the CVC number, i.e. the last three digits printed on the signature strip at the back of the card.
Of course, you should also specify what amount you wish to transfer to your balance before you complete the payment. Card deposits are great in that they are typically conducted instantly although the operation may require one or two working days in some instances. Make sure the sum you transfer meets the minimum and maximum deposit requirements of your Malay brokerage.
The bank transfer is another method preferred by traders from this market, accounting for nearly half of all online payments in the country. There are two ways to complete a bank transfer – you can either do it in person at a branch of your bank or from the comfort of your surroundings by logging into your online banking account. Online bank transfers are supported by most banks in Malaysia, including Bank Negara, AmBank, Public Bank Berhad, and Maybank2u.
E-wallets are another broadly offered payment option for Malay traders who refer to them as “dompet digital”. Most Forex brokers work with Neteller, PayPal, and Skrill. Some also support Perfect Money whose platform is available in Malaysian.
When using this method, payers are redirected to the system of their chosen e-wallet which allows for instant and anonymous money transfers. All four e-wallets are usually supported for withdrawals as well. FasaPay is another suitable payment option for traders from Malaysia, albeit a less common one.
Popular Trading Software in Malaysia
After you have determined which brokerages service clients from Malaysia, you need to check what trading platforms they implement. The software a broker relies on is essential for the trading experience it provides to its customers. The simpler the interface, the better, especially if you are new to Forex trading. An overly complicated platform may lead to trading mistakes which would ultimately cost you.
Another thing you should check is compatibility since some platforms may not work on the operating system you are using. Your broker of choice should also give you the option to trade on the go, so make sure their software is mobile-friendly.
Most brokers on the Malaysian market seem to prefer the MetaTrader 4 platform, developed by MetaQuotes, because it is the easiest to work with. It has a very user-friendly layout along with various advanced analysis tools and a practical chart station with three types of charts – bars, candlesticks, and lines. Additionally, traders can install it on any desktop computer that uses the Linux, Microsoft Windows or Mac operating systems.
MT4 is the favorite of many Malay traders who explore the Forex markets. However, those who want access to a more versatile selection of financial instruments should go for a brokerage that implements the MetaTrader 5 platform since it also supports options, bonds, stocks, and futures. Either platform has its version of WebTrader, which is browser-based and does away with the necessity of downloading additional software.
Mobile Trading in Malaysia
In an era when smartphones have become an inseparable part of people’s day-to-day lives, Forex brokers are aiming to compete with each other by facilitating the optimal trading experience on the go. Malaysians are very keen on mobile technologies as well.
In 2015, there were over 14 million smartphone users in the country, which corresponded to around 48% of the population at the time. This number is expected to jump to over 20 million people in 2020. Having said that, the country’s 4G connection is far from impressive speed-wise at 14.83 Mbps on average.
Brokers servicing the Malay market normally offer native apps that are compatible with Android and iOS. The MetaQuotes platforms MetaTrader 4 and MetaTrader 5 have also been optimized for trading on the fly, giving traders instant access to the full functionalities of the desktop versions.
Smartphone and tablet users can download the applications either directly from the websites of the brokerages or the mobile content platforms Google Play and the App Store. Traders can keep themselves informed when they are away from their desktop computers since the apps feature real-time quotes for the Forex markets.
There are also different types of trade orders, detailed trading histories, and the option to open positions from charts. The mobile version of MT4, in particular, can also display four charts within a single window on iPads. Best of all, Malay is supported to the benefit of non-English-speaking users from the country.