15 Best Forex Brokers in Malaysia for 2025, ranked by multiple factors such as reliability, fees, spreads, swaps, leverage, popularity, and more.
Best Forex Brokers in Malaysia for 2025
- Best Overall – FBS
- Most Popular – XM, OctaFX
- Most Trusted – XM
- Lowest Spread – FBS
- Best Swap Free – FBS, OctaFX, HFM
- Lowest Minimum Deposit – OANDA
- Highest Leverage – FXGT
- Most Trading Platforms – Vantage, FP Markets, FXCM
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| # | Broker | Overall Score (Out of 100) | Popularity (Google Monthly Searches) | Trust Score (Out of 100) | Avg. Spread (Point per lot) | Commission (USD per lot) | Swap (USD per lot per night) | Min. Deposit | Max. Leverage | Platform |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | FBS Open Account↗︎ | 91.84 | 8,100 | 87.5 | 11.43 | 0 | 0 | $5 | 3,000 | MT4, MT5, FBS App |
| 2 | OANDA Open Account↗︎ | 89.14 | 6,600 | 96.25 | 12.86 | 0 | 4 | $2 | 50 | MT4, MT5, OANDA App, TradingView |
| 3 | Eightcap Open Account↗︎ | 84.18 | 880 | 87.5 | 13.17 | 0 | 5 | $50 | 500 | MT4, MT5, TradingView |
| 4 | Vantage Open Account↗︎ | 78.51 | 1,600 | 85 | 16.14 | 0 | 4 | $50 | 2,000 | MT4, MT5, Tradingview, Vantage App, Protrader |
| 5 | FP Markets Open Account↗︎ | 78.39 | 720 | 77.5 | 14.6 | 0 | 4 | $25 | 500 | MT4, MT5, FP Markets App, TradingView, cTrader |
| 6 | FXCM Open Account↗︎ | 77.08 | 1,300 | 85 | 16.91 | 0 | 4 | $50 | 1,000 | MT4, MT5, FXCM App, Trading Station, TradingView |
| 7 | Tickmill Open Account↗︎ | 73.16 | 4,400 | 73.75 | 16.6 | 0 | 4 | $100 | 1,000 | MT4, MT5, TradingView, Tickmill App |
| 8 | AvaTrade Open Account↗︎ | 72.8 | 1,600 | 92.5 | 19.86 | 0 | 6 | $100 | 400 | MT4, MT5, WebTrader, AvaTrade App, AvaOptions |
| 9 | OctaFX Open Account↗︎ | 72.39 | 27,100 | 72.5 | 18.63 | 0 | 0 | $50 | 1,000 | MT4, MT5, OctaTrader |
| 10 | FxPro Open Account↗︎ | 71.51 | 2,400 | 81.25 | 18.14 | 0 | 6 | $100 | 500 | MT4, MT5, cTrader, FxPro App, FxPro Trading Platform |
| 11 | LiteFinance Open Account↗︎ | 70.73 | 1,300 | 66.25 | 16.29 | 0 | 4 | $10 | 1,000 | MT4, MT5, cTrader, LiteFinance App |
| 12 | HFM Open Account↗︎ | 69.41 | 22,200 | 76.25 | 21.03 | 0 | 0 | $5 | 2,000 | MT4, MT5, HFM App |
| 13 | JustMarkets Open Account↗︎ | 64.53 | 4,400 | 61.25 | 12.4 | 0 | 17 | $15 | 3,000 | MT4, MT5, JustMarkets App |
| 14 | XM Open Account↗︎ | 64.21 | 27,100 | 98.75 | 25.8 | 0 | 6 | $5 | 1,000 | MT4, MT5, XM App |
| 15 | FXGT Open Account↗︎ | 52.06 | 1,300 | 55 | 23.09 | 0 | 6 | $5 | 5,000 | MT4, MT5, FXGT App, FXGT Trader |
Explanation of the Forex Broker Comparison Table
1.FBS
If you're looking for an all-around champion, FBS is definitely a top choice for Forex traders in Malaysia. It clinched the spot for Best Overall with an impressive score of 91.84. What really makes FBS shine for cost-conscious traders is its super tight spreads, coming in at the lowest average spread of just 11.43 points per lot. Plus, if you're into swing or position trading, you'll love that FBS is swap-free, meaning zero overnight financing fees. This broker also offers high leverage up to 1:3000, which is among the highest, and a low minimum deposit of just $5, making it super accessible for new traders.
FBS Summary
*The full score is 100.
| 💸 Average Spread: EURUSD 💸 Average Spread: XAUUSD 💸 Average Spread: BTCUSD | 9.40 Points / 1 Lot 21.3 USD / 1 Lot 0.0354% / 1 BTC |
| 🌙 Swap Long: EURUSD 🌙 Swap Short: EURUSD | 0 (Swap Free) 0 (Swap Free) |
| 🌙 Swap Long: XAUUSD 🌙 Swap Short: XAUUSD | 0 (Swap Free) 0 (Swap Free) |
| 🌙 Swap Long: BTCUSD 🌙 Swap Short: BTCUSD | 0 (Swap Free) 0 (Swap Free) |
| 💰Commission | No Commission Charged on Standard Accounts |
| 💵 Minimum Deposit | 5 USD |
| 💵 Minimum Withdrawal | 5 USD |
| 📊 Instruments | Forex, Crypto, Stocks, Indices, Commodities |
| 🖥️ Trading Platform | MT4, MT5, FBS App |
| ⚖️ Maximum Leverage | 1:3000 |
2.OANDA
For traders just starting out or those who prefer to keep their initial investment small, OANDA is a standout option. It boasts the lowest minimum deposit requirement, letting you open a live trading account with just $2. Beyond that, OANDA also earns a high trust score of 96.25, ranking as the second most trusted, and offers low average spreads at 12.86 points per lot, which is the third lowest among the top brokers. Its overall score of 89.14 also places it as the second best overall broker.
OANDA Summary
| 👮♂️ Trust Score | 96.25 |
| 💸 Average Spread: EURUSD 💸 Average Spread: XAUUSD 💸 Average Spread: BTCUSD | 9.40 Points / 1 Lot 21 USD / 1 Lot 0.0557% / 1 BTC |
| 🌙 Swap Long: EURUSD 🌙 Swap Short: EURUSD | -5 (USD per lot per night) +1 (USD per lot per night) |
| 🌙 Swap Long: XAUUSD 🌙 Swap Short: XAUUSD | -24 (USD per lot per night) +13 (USD per lot per night) |
| 🌙 Swap Long: BTCUSD 🌙 Swap Short: BTCUSD | -37 (USD per lot per night) -26 (USD per lot per night) |
| 💰Commission | No Commission Charged on Standard Accounts |
| 💵 Minimum Deposit | 2 USD |
| 💵 Minimum Withdrawal | 20 USD |
| 📊 Instruments | Forex, Crypto, Stocks, Indices, Commodities |
| 🖥️ Trading Platform | MT4, MT5, OANDA App, TradingView |
| ⚖️ Maximum Leverage | 1:50 |
3.Eightcap
Eightcap is a solid option for Malaysian Forex traders, especially if you value a well-rounded broker with good performance. It stands out with a strong overall score of 84.18, placing it third in the overall ranking.
Eightcap Summary
| 👮♂️ Trust Score | 87.50 |
| 💸 Average Spread: EURUSD 💸 Average Spread: XAUUSD 💸 Average Spread: BTCUSD | 11.20 Points / 1 Lot 13 USD / 1 Lot 0.0361% / 1 BTC |
| 🌙 Swap Long: EURUSD 🌙 Swap Short: EURUSD | -8 (USD per lot per night) +3 (USD per lot per night) |
| 🌙 Swap Long: XAUUSD 🌙 Swap Short: XAUUSD | -47 (USD per lot per night) +26 (USD per lot per night) |
| 🌙 Swap Long: BTCUSD 🌙 Swap Short: BTCUSD | -47 (USD per lot per night) +12 (USD per lot per night) |
| 💰Commission | No Commission Charged on Standard Accounts |
| 💵 Minimum Deposit | 50 USD |
| 💵 Minimum Withdrawal | 50 USD |
| 📊 Instruments | Forex, Crypto, Stocks, Indices, Commodities |
| 🖥️ Trading Platform | MT4, MT5, TradingView |
| ⚖️ Maximum Leverage | 1:500 |
4.Vantage
If having a variety of tools and platforms is key for your trading style, Vantage has you covered. It's recognized for offering most trading platforms, including industry standards like MT4 and MT5, alongside TradingView, the Vantage App, and Protrader. For traders looking to maximize their buying power, Vantage also provides high leverage options up to 1:2000, placing it among the top three for highest leverage.
Vantage Summary
| 👮♂️ Trust Score | 85.00 |
| 💸 Average Spread: EURUSD 💸 Average Spread: XAUUSD 💸 Average Spread: BTCUSD | 13.40 Points / 1 Lot 22 USD / 1 Lot 0.1124% / 1 BTC |
| 🌙 Swap Long: EURUSD 🌙 Swap Short: EURUSD | -7 (USD per lot per night) +3 (USD per lot per night) |
| 🌙 Swap Long: XAUUSD 🌙 Swap Short: XAUUSD | -38 (USD per lot per night) +18 (USD per lot per night) |
| 🌙 Swap Long: BTCUSD 🌙 Swap Short: BTCUSD | 0 (Swap Free) 0 (Swap Free) |
| 💰Commission | No Commission Charged on Standard Accounts |
| 💵 Minimum Deposit | 50 USD |
| 💵 Minimum Withdrawal | 30 USD |
| 📊 Instruments | Forex, Crypto, Stocks, Indices, Commodities, ETF, Bonds |
| 🖥️ Trading Platform | MT4, MT5, Tradingview, Vantage App, Protrader |
| ⚖️ Maximum Leverage | 1:2000 |
5.FP Markets
For those who appreciate flexibility in their trading setup, FP Markets is one of the brokers offering most trading platforms. You get access to MT4, MT5, their FP Markets App, TradingView, and cTrader, giving you plenty of options to manage your trades.
FP Markets Summary
| 👮♂️ Trust Score | 77.50 |
| 💸 Average Spread: EURUSD 💸 Average Spread: XAUUSD 💸 Average Spread: BTCUSD | 11.40 Points / 1 Lot 19.40 USD / 1 Lot 0.0283% / 1 BTC |
| 🌙 Swap Long: EURUSD 🌙 Swap Short: EURUSD | -5 (USD per lot per night) +1 (USD per lot per night) |
| 🌙 Swap Long: XAUUSD 🌙 Swap Short: XAUUSD | -30 (USD per lot per night) +5 (USD per lot per night) |
| 🌙 Swap Long: BTCUSD 🌙 Swap Short: BTCUSD | -47 (USD per lot per night) -5 (USD per lot per night) |
| 💰Commission | No Commission Charged on Standard Accounts |
| 💵 Minimum Deposit | 25 USD |
| 💵 Minimum Withdrawal | 25 USD |
| 📊 Instruments | Forex, Crypto, Stocks, Indices, Commodities, Bonds, ETF |
| 🖥️ Trading Platform | MT4, MT5, FP Markets App, TradingView, cTrader |
| ⚖️ Maximum Leverage | 1:500 |
6.FXCM
Traders who need diverse software options to execute their strategies will find FXCM highly appealing. It's recognized for providing most trading platforms, including MT4, MT5, the FXCM App, Trading Station, and TradingView, catering to various preferences.
FXCM Summary
| 👮♂️ Trust Score | 85.00 |
| 💸 Average Spread: EURUSD 💸 Average Spread: XAUUSD 💸 Average Spread: BTCUSD | 14.20 Points / 1 Lot 48.20 USD / 1 Lot 0.0723% / 1 BTC |
| 🌙 Swap Long: EURUSD 🌙 Swap Short: EURUSD | -8 (USD per lot per night) +4 (USD per lot per night) |
| 🌙 Swap Long: XAUUSD 🌙 Swap Short: XAUUSD | -54 (USD per lot per night) +15 (USD per lot per night) |
| 🌙 Swap Long: BTCUSD 🌙 Swap Short: BTCUSD | No data No data |
| 💰Commission | No Commission Charged on Standard Accounts |
| 💵 Minimum Deposit | 50 USD |
| 💵 Minimum Withdrawal | 1 USD |
| 📊 Instruments | Forex, Crypto, Stocks, Indices, Commodities |
| 🖥️ Trading Platform | MT4, MT5, FXCM App, Trading Station, TradingView |
| ⚖️ Maximum Leverage | 1:1000 |
7.Tickmill
Tickmill Summary
| 👮♂️ Trust Score | 73.75 |
| 💸 Average Spread: EURUSD 💸 Average Spread: XAUUSD 💸 Average Spread: BTCUSD | 16.60 Points / 1 Lot 24 USD / 1 Lot No data |
| 🌙 Swap Long: EURUSD 🌙 Swap Short: EURUSD | -8 (USD per lot per night) +4 (USD per lot per night) |
| 🌙 Swap Long: XAUUSD 🌙 Swap Short: XAUUSD | -41 (USD per lot per night) +22 (USD per lot per night) |
| 🌙 Swap Long: BTCUSD 🌙 Swap Short: BTCUSD | 0 (Swap Free) 0 (Swap Free) |
| 💰Commission | No Commission Charged on Standard Accounts |
| 💵 Minimum Deposit | 100 USD |
| 💵 Minimum Withdrawal | 25 USD |
| 📊 Instruments | Forex, Crypto, Stocks, Indices, Commodities, Bonds |
| 🖥️ Trading Platform | MT4, MT5, TradingView, Tickmill App |
| ⚖️ Maximum Leverage | 1:1000 |
8.AvaTrade
When it comes to broker reliability, AvaTrade holds a strong position. It boasts a high trust score of 92.5, making it the third most trusted broker mentioned, which is great for traders prioritizing security.
AvaTrade Summary
| 👮♂️ Trust Score | 92.50 |
| 💸 Average Spread: EURUSD 💸 Average Spread: XAUUSD 💸 Average Spread: BTCUSD | 13 Points / 1 Lot 30 USD / 1 Lot 0.0986% / 1 BTC |
| 🌙 Swap Long: EURUSD 🌙 Swap Short: EURUSD | -45 (USD per lot per night) +24 (USD per lot per night) |
| 🌙 Swap Long: XAUUSD 🌙 Swap Short: XAUUSD | -30 (USD per lot per night) +5 (USD per lot per night) |
| 🌙 Swap Long: BTCUSD 🌙 Swap Short: BTCUSD | -40 (USD per lot per night) 0 (Swap Free) |
| 💰Commission | No Commission Charged on Standard Accounts |
| 💵 Minimum Deposit | 100 USD |
| 💵 Minimum Withdrawal | 100 USD |
| 📊 Instruments | Forex, Crypto, Stocks, Indices, Commodities, ETF, Bonds |
| 🖥️ Trading Platform | MT4, MT5, WebTrader, AvaTrade App, AvaOptions |
| ⚖️ Maximum Leverage | 1:400 |
9.OctaFX
OctaFX is a seriously popular choice among Malaysian Forex traders, tying for the most popular broker spot with an impressive 27,100 monthly Google searches. If you're looking to avoid extra costs, it's also a top swap-free broker, meaning you won't pay overnight financing fees.
OctaFX Summary
| 👮♂️ Trust Score | 72.50 |
| 💸 Average Spread: EURUSD 💸 Average Spread: XAUUSD 💸 Average Spread: BTCUSD | 10.60 Points / 1 Lot 30 USD / 1 Lot 0.0363% / 1 BTC |
| 🌙 Swap Long: EURUSD 🌙 Swap Short: EURUSD | 0 (Swap Free) 0 (Swap Free) |
| 🌙 Swap Long: XAUUSD 🌙 Swap Short: XAUUSD | 0 (Swap Free) 0 (Swap Free) |
| 🌙 Swap Long: BTCUSD 🌙 Swap Short: BTCUSD | 0 (Swap Free) 0 (Swap Free) |
| 💰Commission | No Commission Charged on Standard Accounts |
| 💵 Minimum Deposit | 50 USD |
| 💵 Minimum Withdrawal | 10 USD |
| 📊 Instruments | Forex, Crypto, Stocks, Indices, Commodities |
| 🖥️ Trading Platform | MT4, MT5, OctaTrader |
| ⚖️ Maximum Leverage | 1:1000 |
10.FxPro
FxPro Summary
| 👮♂️ Trust Score | 81.25 |
| 💸 Average Spread: EURUSD 💸 Average Spread: XAUUSD 💸 Average Spread: BTCUSD | 14.00 Points / 1 Lot 35.80 USD / 1 Lot 0.0986% / 1 BTC |
| 🌙 Swap Long: EURUSD 🌙 Swap Short: EURUSD | -8 (USD per lot per night) +2 (USD per lot per night) |
| 🌙 Swap Long: XAUUSD 🌙 Swap Short: XAUUSD | -46 (USD per lot per night) +13 (USD per lot per night) |
| 🌙 Swap Long: BTCUSD 🌙 Swap Short: BTCUSD | -47 (USD per lot per night) -47 (USD per lot per night) |
| 💰Commission | No Commission Charged on Standard Accounts |
| 💵 Minimum Deposit | 100 USD |
| 💵 Minimum Withdrawal | 100 USD |
| 📊 Instruments | Forex, Crypto, Stocks, Indices, Commodities, ETF |
| 🖥️ Trading Platform | MT4, MT5, cTrader, FxPro App, FxPro Trading Platform |
| ⚖️ Maximum Leverage | 1:500 |
11.LiteFinance
For new traders or those managing smaller capital, LiteFinance offers a convenient entry point with its low minimum deposit of just $10. This makes it the third most accessible broker in terms of initial funding.
LiteFinance Summary
| 👮♂️ Trust Score | 66.25 |
| 💸 Average Spread: EURUSD 💸 Average Spread: XAUUSD 💸 Average Spread: BTCUSD | 15.00 Points / 1 Lot 39 USD / 1 Lot 0.1873% / 1 BTC |
| 🌙 Swap Long: EURUSD 🌙 Swap Short: EURUSD | -7 (USD per lot per night) +3 (USD per lot per night) |
| 🌙 Swap Long: XAUUSD 🌙 Swap Short: XAUUSD | -54 (USD per lot per night) 0 (Swap Free) |
| 🌙 Swap Long: BTCUSD 🌙 Swap Short: BTCUSD | -58 (USD per lot per night) -58 (USD per lot per night) |
| 💰Commission | No Commission Charged on Standard Accounts |
| 💵 Minimum Deposit | 10 USD |
| 💵 Minimum Withdrawal | 10 USD |
| 📊 Instruments | Forex, Crypto, Stocks, Indices, Commodities |
| 🖥️ Trading Platform | MT4, MT5, cTrader, LiteFinance App |
| ⚖️ Maximum Leverage | 1:1000 |
12.HFM
HFM is a highly popular broker with Malaysian traders, ranking third in popularity with 22,200 monthly Google searches. What's more, it's a fantastic swap-free option, perfect for traders holding positions overnight without incurring swap fees. HFM also makes it easy to get started with a low minimum deposit of just $5, which is tied for second lowest, and offers high leverage up to 1:2000, also tied for third highest.
HFM Summary
| 👮♂️ Trust Score | 72.50 |
| 💸 Average Spread: EURUSD 💸 Average Spread: XAUUSD 💸 Average Spread: BTCUSD | 16.60 Points / 1 Lot 28.50 USD / 1 Lot 0.0472% / 1 BTC |
| 🌙 Swap Long: EURUSD 🌙 Swap Short: EURUSD | 0 (Swap Free) 0 (Swap Free) |
| 🌙 Swap Long: XAUUSD 🌙 Swap Short: XAUUSD | 0 (Swap Free) 0 (Swap Free) |
| 🌙 Swap Long: BTCUSD 🌙 Swap Short: BTCUSD | -19 (USD per lot per night) -9 (USD per lot per night) |
| 💰Commission | No Commission Charged on Standard Accounts |
| 💵 Minimum Deposit | 5 USD |
| 💵 Minimum Withdrawal | 5 USD |
| 📊 Instruments | Forex, Crypto, Stocks, Indices, Commodities, Bonds, ETF |
| 🖥️ Trading Platform | MT4, MT5, HFM App |
| ⚖️ Maximum Leverage | 1:2000 |
13.JustMarkets
If you're hunting for a broker with tight spreads, JustMarkets is a strong contender, offering the second lowest average spread at 12.4 points per lot. Plus, for those who like to amplify their trades, it provides high leverage options up to 1:3000, which is tied for the second highest available.
JustMarkets Summary
| 👮♂️ Trust Score | 61.25 |
| 💸 Average Spread: EURUSD 💸 Average Spread: XAUUSD 💸 Average Spread: BTCUSD | 9.00 Points / 1 Lot 18.00 USD / 1 Lot 0.0358% / 1 BTC |
| 🌙 Swap Long: EURUSD 🌙 Swap Short: EURUSD | -13 (USD per lot per night) -4 (USD per lot per night) |
| 🌙 Swap Long: XAUUSD 🌙 Swap Short: XAUUSD | -71 (USD per lot per night) -84 (USD per lot per night) |
| 🌙 Swap Long: BTCUSD 🌙 Swap Short: BTCUSD | -85 (USD per lot per night) -56 (USD per lot per night) |
| 💰Commission | No Commission Charged on Standard Accounts |
| 💵 Minimum Deposit | 15 USD |
| 💵 Minimum Withdrawal | 10 USD |
| 📊 Instruments | Forex, Crypto, Stocks, Indices, Commodities |
| 🖥️ Trading Platform | MT4, MT5, JustMarkets App |
| ⚖️ Maximum Leverage | 1:3000 |
14.XM
XM is a powerhouse when it comes to popularity and trust in the Malaysian Forex scene. It's recognized as one of the most popular brokers, tying for the top spot with 27,100 monthly Google searches. Even more importantly, XM is rated as the most trusted broker with an outstanding trust score of 98.75. Additionally, it offers a low minimum deposit of just $5, making it easy to get started.
XM Summary
| 👮♂️ Trust Score | 98.75 |
| 💸 Average Spread: EURUSD 💸 Average Spread: XAUUSD 💸 Average Spread: BTCUSD | 20.60 Points / 1 Lot 37.10 USD / 1 Lot 0.0727% / 1 BTC |
| 🌙 Swap Long: EURUSD 🌙 Swap Short: EURUSD | -9 (USD per lot per night) +3 (USD per lot per night) |
| 🌙 Swap Long: XAUUSD 🌙 Swap Short: XAUUSD | -43 (USD per lot per night) +18 (USD per lot per night) |
| 🌙 Swap Long: BTCUSD 🌙 Swap Short: BTCUSD | -35 (USD per lot per night) -35 (USD per lot per night) |
| 💰Commission | No Commission Charged on Standard Accounts |
| 💵 Minimum Deposit | 5 USD |
| 💵 Minimum Withdrawal | 5 USD |
| 📊 Instruments | Forex, Crypto, Stocks, Indices, Commodities |
| 🖥️ Trading Platform | MT4, MT5, XM App |
| ⚖️ Maximum Leverage | 1:1000 |
15.FXGT
For traders looking to maximize their trading power, FXGT is the ultimate choice with the highest leverage available, offering up to 1:5000. This is fantastic for those aiming to control larger positions with smaller capital. It also features a low minimum deposit of just $5, making it accessible to a wide range of traders.
FXGT Summary
| 👮♂️ Trust Score | 55 |
| 💸 Average Spread: EURUSD 💸 Average Spread: XAUUSD 💸 Average Spread: BTCUSD | 20.20 Points / 1 Lot 35.30 USD / 1 Lot 0.0739% / 1 BTC |
| 🌙 Swap Long: EURUSD 🌙 Swap Short: EURUSD | -7 (USD per lot per night) +1 (USD per lot per night) |
| 🌙 Swap Long: XAUUSD 🌙 Swap Short: XAUUSD | -19 (USD per lot per night) +5 (USD per lot per night) |
| 🌙 Swap Long: BTCUSD 🌙 Swap Short: BTCUSD | -61 (USD per lot per night) +24 (USD per lot per night) |
| 💰Commission | No Commission Charged on Standard Accounts |
| 💵 Minimum Deposit | 5 USD |
| 💵 Minimum Withdrawal | 5 USD |
| 📊 Instruments | Forex, Crypto, Stocks, Indices, Commodities |
| 🖥️ Trading Platform | MT4, MT5, FXGT App, FXGT Trader |
| ⚖️ Maximum Leverage | 1:5000 |
How to Choose the Best Forex Broker in Malaysia
Choosing the right forex broker is a critical first step for any trader in Malaysia. Your broker is your primary partner in the markets, and your choice will directly impact your trading costs, security, and overall experience. Based on an analysis of the top brokers in Malaysia, here are the key factors every trader should consider.
1. Prioritize Trust and Reliability
Before looking at any other feature, the most important factor is the broker's credibility. A high Trust Score is non-negotiable. This score is typically a comprehensive assessment based on several key pillars:
- Regulatory Licenses: Check if the broker is regulated by reputable financial authorities. This is your first line of defense.
- Years in Business: A long operational history often indicates a stable and reliable broker.
- User Reviews & Popularity: Look at feedback from other Malaysian traders. A broker's popularity, often measured by monthly Google searches, can signal a strong reputation and public interest in the local market. For example, brokers like XM and OctaFX are noted for being highly popular in Malaysia.
- Overall Trust: Some analyses rank brokers by a total trust score. The report indicates that XM is rated as the most trusted broker, followed by OANDA and AvaTrade
2. Analyze Your Trading Costs: Spreads and Swaps
Your trading costs directly affect your profitability. The two main costs to scrutinize are spreads and swaps.
- Spreads: The spread is the difference between the buying and selling price and is a primary trading cost. Always look for a broker with low or tight spreads, as this reduces the cost of every trade you make. The report identifies FBS and JustMarkets as having some of the lowest average spreads.
- Swaps: If you plan to hold positions open overnight (swing or position trading), the swap fee is crucial. This is an interest fee charged at the end of each trading day. Many traders in Malaysia prefer a swap-free account, which charges zero overnight fees. Brokers like FBS, OctaFX, and HFM are highlighted as top choices for swap-free trading.
3. Evaluate the Trading Platforms
The software you use to trade is your gateway to the markets. It needs to be stable, fast, and have the tools you need.
- Industry Standards: Most brokers offer MT4 (MetaTrader 4) and MT5 (MetaTrader 5), which are the industry-standard platforms known for their powerful charting tools and support for automated trading.
- Other Options: Many top brokers also provide their own proprietary apps and integrate with other popular platforms like TradingView. If platform variety is important to you, brokers like Vantage, FP Markets, and FXCM are noted for offering the most platform options.
4. Consider Leverage and Minimum Deposit
These factors determine the accessibility and risk level of your trading.
- Minimum Deposit: This is the smallest amount of money required to open a live account. A low minimum deposit is ideal for new traders who want to start small. OANDA is listed as having the lowest requirement at just $2, while brokers like FBS, HFM, XM, and FXGT also offer very accessible entry points at $5.
- Maximum Leverage: Leverage allows you to control a large position with a small amount of capital. While high leverage can amplify profits, it also significantly increases the risk of loss. It is a tool that must be used with a strong risk management strategy. For traders who specifically seek high leverage, brokers like FXGT (up to 1:5000) and FBS (up to 1:3000) offer the highest levels.
5. Look at the Overall Score
Finally, a good way to get a holistic view is to look at a broker's Overall Score. This metric combines the most critical factors—typically weighting Trust Score and Spread Score the highest—to provide a balanced ranking. According to the 2025 analysis, FBS holds the best overall score, followed by OANDA and Eightcap, making them excellent all-around choices for Malaysian traders.
Reference Data
Forex Spread
- This comparison uses standard, commission-free accounts for all brokers.
- Spreads recorded on March 6, 2025, at 13:11 (GMT+7).
- Spreads are variable and subject to change based on market conditions.
Gold (XAUUSD) Spread
- This comparison uses standard, commission-free accounts for all brokers.
- Spreads recorded on March 3, 2025, at 15:39 (GMT+7).
- Spreads are variable and subject to change based on market conditions.
Bitcoin (BTCUSD) Spread
- This comparison uses standard, commission-free accounts for all brokers.
- Spreads recorded on March 11, 2025, at 15:47 (GMT+7).
- Spreads are variable and subject to change based on market conditions.
Swap
- Swap = 0 means the broker is swap-free.
- Swap Rate: Positive (+) means you earn; Negative (-) means you pay.
- Swap recorded on March 3, 2025.
Popularity
*Data as of August 2024 – July 2025
