Selecting the best forex broker Malaysia in 2025 means balancing swap-free accounts, local MYR deposit options, tight spreads, and trusted international regulation. Although the Securities Commission Malaysia (SC) restricts local forex trading to authorised entities, Malaysian traders often use reputable offshore brokers offering broader currency access, higher leverage, and MT4/MT5 platforms.
This guide compares the top forex brokers for Malaysian traders, their features, and how to access global forex markets safely and effectively.
Is Forex Trading Legal in Malaysia?
Permitted
- Trading through SC-licensed brokers or recognised local financial institutions
- Limited to certain assets under strict conditions
- Legal to use offshore brokers as long as funds are declared and risks understood
Restricted
- Locally unregulated brokers operating without SC authorisation
- Marketing by unlicensed brokers within Malaysia
- Leverage beyond what local brokers offer (usually capped)
Best Forex Brokers for Malaysian Traders (2025)
1. TibiGlobe – Best MT5 Broker with High Leverage in Malaysia
- Regulation: Offshore
- Platform: MT5
- Spreads: From 0.2 pips (ECN)
- Leverage: Up to 1:1000
- Swap-Free: ✅ On all account types
- MYR Deposit Support: ✅ via payment gateway
- Best For: High-leverage MT5 traders and Islamic accounts
2. Exness – Best for MYR Instant Deposits and Unlimited Leverage
- Regulation: FSCA, CySEC, FSA
- Platform: MT4, MT5
- Spreads: From 0.0 pips (Raw Spread)
- Leverage: Unlimited (with equity conditions)
- Swap-Free: ✅ On request
- MYR Deposit Support: ✅ Instant via local bank
- Best For: Scalpers, auto traders, and volume trading
3. FXTM – Best Local Funding and Auto Swap-Free Broker
- Regulation: FCA, FSCA, CySEC
- Platform: MT4, MT5
- Spreads: From 0.1 pips
- Leverage: Up to 1:2000
- Swap-Free: ✅ Auto-applied for Malaysian users
- MYR Deposit Support: ✅ Local bank transfer supported
- Best For: Beginner-friendly trading with regional payment access
4. Octa – Best Cashback and Bonus Broker for Malaysia
- Regulation: Offshore
- Platform: MT4, MT5
- Spreads: From 0.6 pips
- Leverage: Up to 1:500
- Swap-Free: ✅ Automatically activated
- MYR Deposit Support: ✅ via Maybank, CIMB, etc.
- Best For: Cashback, bonuses, and user-friendly mobile platform
5. AvaTrade – Best Fixed Spread Broker with Islamic Option
- Regulation: ASIC, FSCA, BVI
- Platform: MT4, MT5, AvaTradeGO
- Spreads: Fixed from 0.9 pips
- Leverage: Up to 1:400
- Swap-Free: ✅ On request
- MYR Deposit Support: ❌ (supports USD deposit via conversion)
- Best For: Fixed-cost beginners and mobile-first users
Comparison Table
| Broker | MYR Deposit | Swap-Free | Leverage | Platform(s) | Spread From | Best For |
|---|---|---|---|---|---|---|
| TibiGlobe | ✅ | ✅ | Up to 1:1000 | MT5 | 0.2 pips | High leverage MT5 and Islamic traders |
| Exness | ✅ | ✅ | Unlimited | MT4, MT5 | 0.0 pips | Fast scalping and MYR accounts |
| FXTM | ✅ | ✅ | Up to 1:2000 | MT4, MT5 | 0.1 pips | Regional funding and auto swap-free |
| Octa | ✅ | ✅ | Up to 1:500 | MT4, MT5 | 0.6 pips | Cashback and UGC trading bonuses |
| AvaTrade | ❌ (USD only) | ✅ | Up to 1:400 | MT4, MT5 | 0.9 pips | Fixed spread simplicity and mobile UX |
Local Deposit Options for Malaysians
- Online Banking (FPX) – Maybank, CIMB, RHB, Public Bank
- E-wallets – Skrill, Neteller, Fasapay
- Cryptocurrency – BTC, USDT (for offshore brokers)
- Credit/Debit Cards – Visa/MasterCard with MYR conversion
How to Open a Forex Account in Malaysia
- Choose a broker that accepts Malaysian residents
- Register and complete KYC
- Select MYR or USD account base
- Fund via local transfer, e-wallet, or crypto
- Request swap-free if needed (for Islamic accounts)
Key Takeaways
- Malaysia-based traders favour swap-free, high-leverage accounts with MYR support.
- TibiGlobe, Exness, and FXTM are ideal for Malaysian residents with local deposit access.
- Octa provides cashback and bonus schemes, while AvaTrade offers beginner simplicity with fixed spreads.
- Always check a broker’s regulatory credentials, MYR support, and trading conditions before depositing.
Frequently Asked Questions
Is forex trading legal in Malaysia?
Yes. It’s legal to trade with brokers that accept Malaysian clients, provided traders declare offshore income and risks.
Which broker offers swap-free accounts in Malaysia?
TibiGlobe, FXTM, XM, and Exness offer swap-free options suitable for Shariah-compliant trading.
Can I deposit in MYR?
Yes. Exness, FXTM, Octa, and TibiGlobe support MYR through local bank transfers or payment gateways.
What’s the best forex platform for Malaysian traders?
MT5 and MT4 are both widely supported. MT5 is ideal for multi-asset trading and faster execution.
Which forex broker is best for beginners in Malaysia?
FXTM and Octa offer beginner-friendly interfaces, local deposits, and support in Bahasa Malaysia.
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