Best Forex Brokers in Malaysia 2025 [SCM]

Malaysia’s Forex market operates under the supervision of the Securities Commission Malaysia (SCM), providing a structured framework for investor protection and broker oversight.

Traders typically access global markets through international brokers that comply with strict regulatory and operational standards. Key evaluation factors include regulation, trading costs, execution quality, and platform availability.

		FXCM	Study Review	Sign up
		AvaTrade	Study Review	Sign up
		FxPro	Study Review	Sign up
4		BlackBull Markets	Study Review	Sign up
5		Vantage Markets	Study Review	Sign up
6		HYCM	Study Review	Sign up
7		HF Markets	Study Review	Sign up
8		ActivTrades	Study Review	Sign up
9		FBS	Study Review	Sign up
10		EasyMarkets	Study Review	Sign up

Comparison of Malaysian Forex Brokers Based on Trustpilot Rating

Trustpilot ratings provide an external, user driven perspective on the real trading experience offered by Forex brokers accessible to Malaysian traders.

Malaysian Forex Brokers Comparison Based on Spreads

Brokers operating in or accessible from Malaysia typically offer variable spreads influenced by liquidity providers, account type, and market volatility.

While tight spreads improve cost efficiency, they should be evaluated alongside execution quality, commissions, and regulatory oversight by the Securities Commission Malaysia.

Non-Trading Fees in Malaysian Forex Brokers

While some brokers accessible in Malaysia offer zero-fee funding options, others apply charges depending on the payment method or inactivity period.

Tradabale Instruments of Forex Brokers in Malaysia

Alongside major, minor, and selected exotic Forex pairs, many platforms also offer CFDs on indices, commodities, metals, cryptocurrencies, and global equities.

Top 10 Forex Brokers in Malaysia

The top Forex brokers available to Malaysian traders are selected based on regulatory credibility, trading costs, platform quality, and overall trust metrics.

FXCM

FXCM, short for Forex Capital Markets, is a globally recognized forex and CFD broker founded in 1999 with more than two decades of industry experience.

The broker provides trading across major asset classes such as forex, indices, commodities, cryptocurrencies, and share CFDs, with floating spreads starting from 0.2 pips and commission-free trading on most instruments (FXCM rebate is also available).

After FXCM registration, client funds are protected through segregated accounts and negative balance protection, while eligible clients may benefit from compensation schemes depending on jurisdiction.

Although FXCM faced regulatory challenges in the past, it has maintained a strong international presence and continues to serve traders seeking regulated market access, advanced platforms, and diverse trading tools.

FXCM Pros and Cons

Table below, highlights the FXCM brokers pros and cons at a glance:

AvaTrade

AvaTrade is a globally established Forex and CFD broker founded in 2006, serving traders in more than 150 countries.

In AvaTrade dashboard, trading is supported via multiple platforms such as MetaTrader 4, MetaTrader 5, WebTrader, and the proprietary AvaTrade mobile app, making it suitable for both beginners and experienced traders.

The broker offers fixed and competitive spreads, commission free trading, AvaTrade rebate, Islamic accounts, and copy trading solutions through AvaSocial and DupliTrade.

With segregated client funds, negative balance protection, and strong educational resources, the broker stands out as a secure and user friendly trading environment with easy AvaTrade registration.

AvaTrade Pros and Cons

The table below provides a quick overview of AvaTrade broker strengths and weaknesses.

FxPro

FxPro is a globally established Forex and CFD broker founded in 2006, with more than 15 years of operational history and over 7.8 million registered client accounts worldwide.

FxPro operates under a multi regulated structure, holding licenses from top tier authorities such as the Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Financial Sector Conduct Authority (FSCA), and the Securities Commission of The Bahamas (SCB).

FxPro dashboard supports several advanced trading platforms including MetaTrader 4, MetaTrader 5, cTrader, WebTrader, and a proprietary mobile app.

With multiple account types, copy trading services, Islamic accounts, FxPro rebate and competitive spreads starting from 0.0 pips, FxPro is suitable for both retail and professional traders seeking a regulated and technology driven trading environment.

FxPro Pros and Cons

The following table presents FxPro’s main advantages and disadvantages in a concise format.

BlackBull Markets

BlackBull Markets is a New Zealand based Forex and CFD broker founded in 2014, operating under the legal entity Black Bull Group Limited.

The broker is regulated by the Financial Markets Authority (FMA) in New Zealand and the Financial Services Authority (FSA) in Seychelles, offering a combination of tier 1 and offshore regulatory coverage.

BlackBull Markets provides access to more than 26,000 tradable instruments across Forex, indices, commodities, metals, cryptocurrencies, and share CFDs.

With no minimum deposit on its Standard account, leverage up to 1:500, 24/7 customer support, and strong trust scores on Trustpilot, BlackBull Markets registration is well suited for active traders, scalpers, and professional investors.

BlackBull Markets Pros and Cons

Below is a table summarizing the key pros and cons of the BlackBull Markets brokerage.

Vantage Markets

Vantage Markets is a global Forex and CFD broker founded in 2009 and headquartered in Sydney, Australia, with more than 30 offices worldwide.

The broker offers access to a broad range of markets including Forex, indices, commodities, shares, ETFs, and cryptocurrencies, with spreads starting from 0.0 pips on ECN accounts.

After Vantage Markets registration, client funds are kept in segregated accounts, and negative balance protection is available for most entities.

With copy trading via ZuluTrade, DupliTrade, and Myfxbook AutoTrade, low minimum deposit requirements, and 24/7 support, Vantage Markets suits both beginner and professional traders.

Vantage Markets Pros and Cons

The table shown here outlines Vantage Markets’s positive features and limitations clearly.

HYCM

HYCM is a long-established multi-regulated Forex and CFD broker operating under top-tier authorities such as the Financial Conduct Authority (UK) and the Dubai Financial Services Authority (UAE), with additional international coverage.

HYCM dashboard offers three main account types Fixed, Classic, and RAW with a low minimum deposit of $20, making it accessible to beginners while still suitable for high-volume traders.

With spreads starting from 0.1 pips on RAW accounts, flexible leverage up to 1:500 for non-UK clients (available after HYCM verification), and multiple HYCM deposit and withdrawal methods including crypto, HYCM positions itself as a competitive, regulation-focused broker for global traders.

HYCM Pros and Cons

In the table below, HYCM’s benefits and drawbacks are displayed for fast comparison.

HF Markets

HFM, also known as HF Markets, is a globally recognized multi-asset broker established in 2010, serving over 2.5 million live accounts across 180+ countries.

In HFM dashboard, Traders can choose from several account types, including Cent, Zero, Pro, and Premium, with spreads starting from 0.0 pips on Zero accounts and leverage reaching up to 1:2000 under offshore entities.

The broker supports MetaTrader 4, MetaTrader 5, and a proprietary mobile app, alongside HFM copy trading and PAMM solutions. With negative balance protection, segregated client funds, HYCM rebate and a Trustpilot score of 4.6 out of 5, HFM positions itself as a competitive choice for both beginner and advanced traders.

HFM Pros and Cons

The next table offers a brief snapshot of HFM broker advantages and shortcomings.

ActivTrades

ActivTrades is a London-based Forex and CFD broker founded in 2001, serving traders from more than 170 countries worldwide.

The broker is primarily regulated by the Financial Conduct Authority and operates under additional international regulators, ensuring a strong compliance framework and high client fund protection.

After ActivTrades registration, the broker provides access to over 1,000 tradable instruments, including Forex pairs, indices, commodities, shares, ETFs, bonds, and cryptocurrencies.

With spreads starting from 0.5 pips, no minimum deposit requirement, Islamic accounts, and professional leverage up to 1:400, ActivTrades is positioned as a regulation-focused broker suitable for both retail and professional traders.

ActivTrades Pros and Cons

The table beneath highlights the most important strengths and weaknesses of ActivTrades.

FBS

FBS is a global Forex and CFD broker established in 2009, serving more than 27 million users worldwide. The broker operates through multiple regulated entities, including a CySEC-licensed European branch and an offshore entity regulated by the FSC, allowing it to offer flexible trading conditions to international clients.

Client funds in FBS dashboard are held in segregated accounts, and negative balance protection is applied across supported regions.

Alongside FBS rebate, the broker offers floating spreads starting from 0.7 pips with zero trading commission, making it attractive for cost-sensitive traders. Traders can use MetaTrader 4, MetaTrader 5, and the proprietary FBS mobile app, which includes more than 90 technical indicators.

With a very low minimum deposit of $5, leverage reaching up to 1:3000 via offshore regulation, 24/7 customer support, and Islamic account availability, FBS is positioned as a beginner-friendly yet flexible broker for global traders.

FBS Pros and Cons

Below, a structured table compares the main pros and cons of FBS as a broker.

easyMarkets

easyMarkets is a multi-regulated Forex and CFD broker known for its beginner-friendly environment, fixed and variable spread models, and innovative risk-management tools.

Founded in 2001 and headquartered in Cyprus, the broker operates under several regulators, including CySEC, ASIC, FSCA, FSA Seychelles, and FSC BVI, which allows it to serve both retail and international clients.

One of easyMarkets’ key differentiators is its proprietary trading platform, which offers unique features such as dealCancellation and Freeze Rate, designed to reduce execution risk during volatile market conditions. These features are available for all traders after easyMarkets registration.

With leverage reaching up to 1:2000 for non-EU clients and strong negative balance protection, easyMarkets positions itself as a solid choice for both new and risk-aware traders.

easyMarkets Pros and Cons

The following table gives readers an at a glance summary of easyMarkets broker pros and cons.

What is the SCM Regulation?

The Securities Commission Malaysia or SCM is the primary financial regulatory authority responsible for overseeing capital markets and financial intermediaries in Malaysia.

As a result, many Malaysian traders legally access international brokers regulated by foreign authorities while SCM focuses on warning against unlicensed or fraudulent entities.

Key objectives of SCM include

• Supervising licensed financial institutions
• Enforcing compliance with Malaysian financial laws
• Issuing public alerts against illegal Forex schemes
• Promoting investor education and risk awareness

How to Verify an SCM Forex Broker?

Verifying a Forex broker under Malaysian regulatory standards requires checking both local and international credentials. Since most retail Forex brokers are not directly licensed by SCM, verification focuses on legitimacy rather than local authorization. Steps to verify a broker include.

1. Visit the official website of the Securities Commission Malaysia
2. Search the Investor Alert List to ensure the broker is not blacklisted
3. Confirm the broker’s international regulation such as ASIC, FCA, or CySEC
4. Cross check the license number on the regulator’s official website
5. Review transparency on fund segregation and risk disclosures

Forex Trading in Malaysia

Forex trading in Malaysia is widely practiced by retail and professional traders despite regulatory nuances. While local regulation is strict regarding domestic Forex solicitation, Malaysian residents are legally allowed to trade through internationally regulated brokers.

Education, risk management, and broker verification are essential due to the presence of unlicensed investment schemes targeting local traders.

What are the Important Factors for Choosing the Best Forex in Malaysia?

Selecting a Forex broker in Malaysia requires a methodical, data focused approach, as traders rely on these platforms to safeguard and execute their capital. The TradingFinder evaluation framework focuses on factors that directly impact trading safety and performance.

• Regulation and licensing to confirm legal operation and client protection;
• Trading costs, including spreads, commissions, and non-trading fees;
• Account types and tradable instruments to match different trading strategies;
• Trading platforms and apps, such as MT4, MT5, and mobile solutions;
• Deposits, withdrawals, and verification speed for smooth account management;
• Customer support quality and Trustpilot feedback as real trust indicators.

These criteria help Malaysian traders compare brokers objectively and select platforms aligned with their trading goals.

Is Forex Trading Legal in Malaysia?

Forex trading is legal in Malaysia for individuals who trade through properly regulated international brokers. However, offering Forex trading services or managing client funds without authorization from the Securities Commission Malaysia or Bank NegaraMalaysia is illegal.

• Individual trading with offshore brokers is permitted
• Local Forex brokers must be licensed by Malaysian authorities
• Forex investment schemes and signal selling without approval are prohibited
• SCM actively issues warnings against illegal operators

What is the Maximum Leverage Offered by Malaysian Brokers?

Forex brokers accessible to Malaysian traders operate under guidelines issued by the Securities Commission Malaysia (SCM).

SCM emphasizes risk disclosure, suitability assessment, and fair dealing, allowing brokers to offer higher leverage while requiring clear communication of associated risks. As a result, leverage levels in Malaysia are generally more flexible compared to EU markets.

Is Negative Balance Protection Available in SCM-Regulated Forex Brokers?

Negative Balance Protection is not explicitly mandated by SCM because most retail Forex brokers serving Malaysians are regulated abroad. However, this protection is commonly provided by brokers regulated under strict international frameworks.

Choosing brokers that explicitly guarantee this feature is critical, especially when trading with leverage or during volatile market conditions.

How is the Taxation of SCM Regulated Forex Brokers?

Malaysia does not impose a specific capital gains tax on Forex trading profits for individual traders. However, taxation depends on the nature of trading activity and income classification.

• Occasional retail trading profits are often tax free
• Professional or high frequency trading may be treated as taxable income
• Income derived from Forex related services may be subject to tax
• Corporate trading accounts follow business taxation rules

SCM does not directly tax traders but cooperates with Malaysian tax authorities. Traders with significant or consistent profits should consult a local tax professional to ensure compliance with Malaysian income tax regulations.

Forex Trading in Malaysia Compared to Other Countries

In contrast, countries such as India, UAE, and Indonesia apply different regulatory models, ranging from highly restrictive domestic rules to more flexible international brokerage access.

The comparison below highlights how Malaysia stands relative to these markets in terms of regulation, leverage, broker accessibility, and trader protection.

Conclusion

Forex trading in Malaysia operates within a strict regulatory and compliance driven environment, overseen by the Securities Commission Malaysia.

While local licensing for retail Forex brokers is limited, Malaysian traders commonly access global markets through internationally regulated brokers supervised by authorities such as the Financial Conduct Authority, Australian Securities and Investments Commission, and Cyprus Securities and Exchange Commission.

Selecting the best Forex broker in Malaysia depends on regulatory credibility, trading costs, platform quality, leverage structure, and risk protection features such as segregated funds and negative balance protection.

Broker rankings are established through a comprehensive evaluation process defined by the TradingFinder forex methodology, which analyzes key factors such as regulatory standing, trading fees, and the range of available account types to ensure objective and data driven comparisons.