The Malaysian Forex market is steadily growing, and there are currently dozens of brokers offering an impressive variety of brokerage services. However, each has its conditions and fees, a unique combination of bonuses and tools, and so on. That is why you need to know which brokers are the best before starting trading. Traders Union experts have recently reviewed the Malaysian Forex market and answered the question: who is the best Forex broker in Malaysia? Read on to learn about the top Malaysian Forex brokers.
How to choose the best broker
Brokerage companies to have many different aspects that can be compared, but you do not have to look at dozens of conditions at once if you know which of them are the most important. Security and safety is the most crucial aspect of every brokerage service: after all, you won’t benefit from high profitability rates if your money just goes missing Traders Union reported. First, check how your broker is regulated: it must have an official license issued by a Malaysian authority. If your broker is unregulated, don’t invest your money: there’s always a more well-regulated option somewhere on the market.
Trading conditions are also crucial. Learn about the spreads and commissions charged by your broker and don’t forget to check its array of tradable instruments: most brokers offer many different assets as an addition to Forex pairs, including various derivatives and cryptocurrencies. If you want to trade any specific asset, make sure your broker will allow you to do it. You should also check the platforms you’ll be able to use: while MT4 is arguably the most popular choice according to Traders Union, you might prefer something else. All in all, don’t hesitate to search for all available information about your broker online: user reviews seem to be especially useful since they allow you to understand whether your brokerage company is honest.
Best Forex Brokers in Malaysia
According to Traders Union analysts, many international brokers are operating in Malaysia, so a lot of them are regulated by major financial organizations like FCA or ASIC. RoboForex seems to be a perfect choice for all novice traders: it is well-regulated, cheap (the minimum deposit is just $10), and reliable. Exness is another reputable broker well-liked by many Malaysian traders: it offers all kinds of CFDs with truly favorable trading conditions. Tickmill is also a great choice: this broker offers spreads starting from 0.0 pips and many currency pairs to choose from.