Jan 02 2022 0
Malaysia is the up and coming country in Asia. The economic system of this country is developing day by day. In 2018, the Securities Commission Malaysia (SCM) officially started to monitor the foreign exchange market in the country. More and more foreign brokers are applying for this regulation. Let’s find out who are the best forex brokers in Malaysia.
Top 5 best forex brokers in Malaysia:
Why is Exness the best forex broker in Malaysia?
The payment system of Exness
This is for me the feature that makes Exness, one of the best ECN brokers, shine among many other top 10 forex brokers. This feature allows traders to have an insanely fast speed in withdrawing and depositing money. Exness can achieve that speed because they use machines to do the whole process as they are usually faster than humans. And that makes me and many traders love trading with Exness.
Exness account types
You can choose among four different account types of Exness, including Mini, ECN, Cent, and Classic. Your trading tactics will be the one you should think about when choosing a good account. There are two accounts Mini and Cent only require brokers to pay at least 1$, so it is better to put 1$ there and start practicing your own trading tactics.
Customer service of Exness
Exness, one of the biggest brokers, is trying really hard to provide customers with excellent customer service. Exness, unlike many other brokers, offers more than just English support. They have 24/7 support in Bahasa Malaysia, Persian, Chinese, Vietnamese and Thai as well. Each country that Exness targets all have customer service teams. Therefore, traders who can’t speak English can choose Exness, one of the best ECN brokers, as a broker to start their trading career. Moreover, Deloitte, which is in the top 4 auditing firms in the world, is responsible for auditing Exness. So you don’t have to worry about Exness being shady or something.
Spread of Exness
You can get very low spread, possibly the lowest in the market, when joining Exness, a top 10 broker. Exness can even offer you the lowest spread that nowhere else has if you trade currency pairs with the fixed spread. For the 6 most traded currency pairs, they have the lower spread in Exness. For other pairs, it can be a little bit higher.
Just like spread, Exness also provides its traders with the highest possible leverage, sometimes even close to unlimited. Many traders with less experience may think higher leverage means riskier. However, more experienced traders think otherwise as having higher leverage can be safer. If there are two forex traders open the same order size with the same money deposited, the trader with higher leverage is the safer one. And unlimited leverage means that you don’t have to worry about paying anything for margins. Therefore, you can keep your orders without paying anything.
Why is XM the best broker in Malaysia?
XM is currently the best forex broker in Asia, so it is very suitable for Malaysian traders. XM has CySEC, ASIC and IFSC regulations. XM’s new account, Ultra Low account, has spread only at 0.8 pip. Moreover, XM has amazing bonus programs such as: the $10 rebate program or the 100% deposit bonus. Lastly, XM also organizes seminars and educational programs in a lot of Asian countries, including Malaysia. Go to their website to see the upcoming events near you.
Why is IG the best broker in Malaysia?
IG is an veteran in this market who was founded way back in 1974. The thing IG values the most is the safety of its clients; therefore, they have acquired 6 different regulations from various countries: ASIC, JFSA, MAS, FINMA, FCA, and CFTC. Their spread is just as low as XM, only from 0.8 pip. The best thing about IG is their one-of-the-kind super advanced trading platform. Even though they mostly serve clients in Europe, Asian traders are completely safe when trading with IG Group.
Why is Saxo Bank the best broker in Malaysia?
Just like IG, Saxo Bank is also monitored by 6 different organizations including ASIC, SFC, JFSA, MAS, FINMA và FCA. Saxo Bank is the broker for professional and expert traders. They have very low spread that suits the strategies of experts. Moreover, they have the best self-designed platforms: SaxoTraderGO and SaxoTraderPRO.
Why is Forex.com the best broker in Malaysia?
Forex.com is an American forex broker. Traders love trading with this broker because of the safety and security. Their trading platform is simple, elegant, powerful, and easy to use. They support traders 24/7 in various languages including Bahasa Malaysia.
In conclusion, the best forex brokers in Malaysia are: