Best Trading Platforms for Beginners 2023 in Malaysia

More often than not, successful trading relies heavily on the platform that you choose to use. If you’re looking to trade in Malaysia, understand which brokers are best is a great way to start your trading journey.

Whether it be stocks, commodities, currency, or even cryptocurrencies, your preferred trading platform must offer the markets you support. Additionally, it must own at least one regulatory license and provide commissions and spreads that are competitive.

In this guide, we review the best trading platforms in Malaysia for 2023.

Top Malaysia Trading Platforms 2023

Below is a list of the best trading platforms in Malaysia.

1. Skilling – Best Trading Platform Malaysia for Leverage
2. XTB – Best CFD Stock Trading Platforms in Malaysia
3. Oanda– Best Trading Platform in Malaysia Overall
4. Cerus Markets– The Best Trading Platform To Trade With Leverage in Malaysia
5. Huobi – Excellent Trading Platform to Trade Crypto in Malaysia
6. Inceptial – Excellent Forex Trading Platform in Malaysia
7. FXVC – Overall Best Stock Investment Platform in Malaysia
8. Libertex – Best Trading Platform in Malaysia for ZERO Spreads
9. Bursa Anywhere – Best Investment Platform for Buying Malaysian Shares

Best Trading Platforms Malaysia Reviewed

You need to pay close attention to a number of important factors when looking for the top trading platforms in Malaysia. Tradeable assets, costs, spreads, and commissions, as well as payment options and, of course, regulation, should be the focus of this.

To save you from hours of research, below we review the best trading platforms Malaysia.

1. Skilling – Best Trading Platform in Malaysia for Leverage

Skilling will be your finest option if you’re seeking for the greatest trading platform in Malaysia for leverage. One of the largest leverage ratios we have seen is offered to retail clients by this top-rated supplier, which is up to 1:500.

Such high leverage levels are frequently given by dodgy offshore trading platforms. But when it comes to Skilling, nothing could be further from the truth. As a result of licenses from the FSA and CySEC as well as authorization from the FCA, this Malaysian trading platform is highly regulated.

When trading indexes and significant currency pairings, you have the option of applying the highest limit of 1:500 to your holdings. With less on other asset classes, you can achieve 1:200 on gold and minor/exotic currency pairs. Even though the leverage for stock CFDs is much lower—1:10—you can still trade with ten times the amount in your Skilling account.

Skilling is not only the most effective trading platform in Malaysia for leverage, but it is also highly competitive in terms of fees. As an illustration, since all costs are afterwards incorporated into the spread, there won’t be any trading commissions at all. Spreads can drop as low as 0;.1 pips when trading highly liquid markets like forex or equities, which is excellent.

Skilling also offers a variety of trading platforms, which is another reason why we prefer it. This includes cTrader and MT4, which are both favoured by seasoned traders. You would be better off using the web-trading platform if you wanted to trade at Skilling but had significant trading experience. This is perfect for beginners or for people who just want a simple trading experience.

With Skilling, the procedure for opening an account shouldn’t take more than a few minutes. You can select from a number of payment ways and simply need to make a minimum deposit of $100. Debit/credit cards, e-wallets, and bank transfers fall under this category.

71.2% of retail investor accounts lose money when trading CFDs with this provider.

2. XTB – Best CFD Stock Trading Platform in Malaysia

The XTB stock trading platform is a globally recognized CFD broker with a solid reputation spanning nearly two decades. With headquarters in London and Warsaw, it has established itself as a reliable choice for both novice and experienced traders. Regulated by various international agencies, including the UK’s Financial Conduct Authority, and listed on the Warsaw Stock Exchange, XTB ensures the safety and security of traders’ capital.

One of the platform’s standout features is its extensive range of tradable assets. XTB offers access to over 3900 stocks, 22 commodities, 42 indices, 25 cryptocurrencies, 49 forex pairs, and 150 ETFs. This broad selection caters to traders with diverse preferences and risk tolerances.

XTB’s commitment to user-friendly tools and resources sets it apart. The platform provides robust trading tools, advanced charting features, and comprehensive research capabilities. These features are particularly attractive to beginners who may lack the experience or resources for in-depth analysis. Experienced traders also appreciate the technical analysis tools and charting options.

Customer service is another strength of XTB. The platform offers easily accessible and responsive customer support, available 24/5. This level of support allows for prompt issue resolution, enhancing the overall trading experience.

XTB operates as a CFD trading platform, meaning traders speculate on price movements rather than owning the underlying assets. However, in certain regions, XTB allows actual stock trading, albeit without leverage and without guaranteed order fulfillment.

Your capital is at risk.

3. Oanda – Best Trading Platform in Malaysia for Forex

First on our list of the best trading platforms in Malaysia is Oanda, an online Forex trader that has over 25 years of experience at offering market-leading trading services. The platform can be used to trade both Forex and Crypto and has 68 different pairs available- including major cryptocurrencies such as Bitcoin, Ethereum and Litecoin.

The platform is known for its user-friendly interface and fantastic trading tools. For example, the platform can be used alongside MT4 which is considered to be one of the best charting tools for Forex traders. Users can also use the TradingView tool alongside this trading platform to take advantage of advanced analysis tools and indicators.

If you would like to trade Forex from your phone, Oanda is available as an App via MT4. Therefore, it is a great option for trading on the go. Furthermore, Oanda offers advanced robot trading to its users so that you can trade passively and never miss an opportunity. Robot trading is ideal for traders who don’t have time to watch the markets throughout the day or conduct their own technical analysis. Oanda’s trading robot can place trades on your behalf according to predetermined criteria.

As well as robo-trading, Oanda supports CFD trading and tax-free spread betting. Spreads start from just 0.8 pips with a max leverage of 30:1. This means that you can trade with more money than you have available, which could be a good way to maximise profits. However, it is important to understand that it could also lead to greater losses.

If you would like to test that platform before making any decisions, you could use the demo account option. Otherwise, there are three account types available: standard spread, core spread plus commission, premium and premium core spread plus commission. Each account type comes with different fees.

Your capital is at risk.

4. Cerus Markets – The Best Platform To Trade With Leverage in Malaysia

Cerus Markets is good trading platform those who want to trade with leverage. The platform offers leverage up to 100:1 for crypto assets and crypto indexes. Traditional stocks and FX can also be traded on the platform with a leverage of up to 400:1. Cerus Markets is also one of the best commodity trading platforms to use in Malaysia if you are looking to trade assets such as Gold or Silver with leverage.

Cerus Markets is also known for its very low platform fees. In fact, the only costs that are charged by the platform as spreads which means that traders can trade with minimal charges. This is ideal for traders who want to place a number of different trades each day.

The trading platform is regulated by the Labuan Financial Services Authority which means that it complies with several tight security policies that ensure the safety of users funds. Using a regulated trading platform is advised when your money is at risk.

Whether you’re an advanced trader or a newbie, Cerus Markets has everything that you need to build and execute a strong trading strategy. Those who are new to trading can access in-depth educational resources that are designed to help traders navigate the market. Advanced traders can take advantage of the excellent trading tools that are offered by the platform such as technical indicators, market analysis and market news.

There are two trading interfaces available to Cerus Markets customers. These include Trade Room and Cerus Platform. Both platforms offer trading tools and can be used on both desktop and mobile devices. What’s more, if you sign up today you could receive a 100% welcome bonus which means that you will be given an extra trading amount of 100% of your initial deposit by the platform.

Your capital is at risk.

5. Huobi – Excellent Trading Platform to Trade Crypto in Malaysia

Huobi is the largest exchange to invest in crypto as well as a provider of online financial services. Huobi offers users the chance to participate in initial coin offerings (ICOs) before a coin is a mainstream, as well as a wide range of crypto assets. The Huobi cryptocurrency exchange was founded in Beijing, China, and is one of the largest cryptocurrency exchanges in the world.

Over 355 cryptocurrencies can be traded on Huobi including Bitcoin, Ethereum and many altcoins. This platform is used by around 5 million traders in 130 countries. According to CoinMarketCap’s daily cryptocurrency volume index, Huobi is ranked third among the top cryptocurrency exchanges in the world.

Due to its ease of use, Huobi has become so popular. Therefore, it has proved quite useful for both new and experienced traders, proving that it has been convenient for both groups.

It will take you less than two minutes to create an account. To do so, you will need to provide some personal information such as your email address and also connect a payment method to the exchange that can be used to deposit funds.

Since the wallet was launched last year, there has never been a security breach. Only strict security measures helped us achieve such an enviable record. Since Huobi’s crypto funds are off the blockchain, bad actors cannot hack them since they are kept in cold storage. Therefore, security measures ensure that Huobi’s funds are not accessible to bad actors.

Your capital is at risk.

6. Inceptial – Excellent Forex Trading Platform in Malaysia

As a regulated Forex trading platform, Inception aims to provide its clients with the best possible trading experience possible.

As a company, they are fortunate to assemble a very talented team of highly experienced and highly motivated individuals who believe in the value of personal development and advancement. They will help you advance your trading knowledge in all aspects of your trading journey by providing you with remarkable tools and skills that you will need to succeed in your trading career. As a new client of Inceptial, you can take advantage of several free benefits such as access to several valuable interactive courses, trading eBooks, video tutorials, as well as some market analysis tools, including daily chart analyses, economic calendars, and trading calculators. Therefore, each trader can be confident that they will be prepared to deal with any trading challenges that may arise.

The company offers 4 different account types tailored to meet the needs of different traders, regardless of whether they are a beginner or a professional in the trading industry. In addition, there are dedicated account managers and SMS trading signals for those who choose the more advanced accounts, so they don’t miss out on any trading opportunities.

Inceptial.com offers its members the opportunity to trade with various assets and access some of the most competitive spreads available on the market. Join our team, and you can enjoy trading with over 160 assets. In addition, since traders have access to more than 30 trading indicators, they can easily utilize this information to identify signals and trends within the market.

The company maintains that its sole mission is to empower its traders by ensuring that they provide them with the highest level of security and reliability from beginning to end. In addition, Inceptial’s support team is available 24/7 for any queries you may have and can offer solutions for any issues you may encounter.

Your capital is at risk.

7. FXVC – Top-Rated Investment Platform in Malaysia for Beginners

FXVC is one of the best stock trading platforms for beginners in Malaysia if you’re looking for a platform with reasonable costs, a large selection of shares, or some excellent trading tools. You can trade the price of well-known corporations like Apple and Amazon thanks to the diversity of stock CFDs available from various exchanges.

This is also quite affordable because to FXVC’s competitive spreads. This investment platform offers some of the quickest execution rates in the market with incredibly low latency.

On the FXVC website, there is also a beautifully made and easy-to-use mobile app. To implement trading methods, these two platforms provide a wide range of technical and fundamental analysis tools. Also, the website offers a wide range of tools for study and analysis, including updated market reviews and technical analysis tools.

There are five different account types available at FXVC to suit your individual needs.

Your capital is at risk.

8. Libertex – Best Trading Platform For Beginners in Malaysia with ZERO Spreads

Libertex is one of the best trading platforms for beginners in Malaysia due to its incredibly cheap trading fees. Importantly, Libertex does not impose spread fees, ensuring that you always receive the best buy or sell price feasible.

Complementing this is an extremely low commission structure, which will typically result in you paying less than 0.1% every slide. Libertex provides a wide range of asset classes for trading, all of which are replicated via CFDs.

This covers a variety of things, such as FX, equities, commodities, and virtual money. by using this platform to trade CFDs. This indicates that all supported markets are leveraged. While using the Libertex forex trading platform, this can reach a maximum of 1:600, but in order to get this much, you must be a professional client.

Libertex, which supports MT4, is also among the top trading platforms in Malaysia for day traders. This implies that you will have access to a wealth of social trading tools, technical indicators, and alerts in addition to enjoying zero spreads and minimal commissions.

With approximately 3 million clients from over 120 countries, many of whom are situated in Malaysia, this top-rated stock trading platform has a stellar reputation. The company has been providing trading services for 23 years and is governed by various financial organizations. Last but not least, you can deposit as little as $100 on Libertex using a debit/credit card, bank transfer, or an e-wallet.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

9. Bursa Anywhere – Best Investment Platform in Malaysia for Buying Local Shares 

Bursa Anywhere is the best stock trading platform to buy local shares. The stock investment platform also offers a dedicated mobile app, which works with both iOS and Android smartphones, to buy stocks that are listed in Malaysia.

While you will have to jump through a number of hoops to have your account validated, we should point out that the setup process is a little difficult.

Bursa Anywhere, however, is a less expensive choice because there are no registration costs and no annual platform fees. Also included in the app are a variety of helpful tools, such as alerts for market-to-market portfolios and corporate report updates.

Best Trading Platforms Malaysia Comparison Fee

How to Choose the Best Trading Platform for Beginners in Malaysia

The majority of traders in Malaysia prefer to employ licensed foreign trading platforms since they have access to the most liquid trading markets. As a result, there may be hundreds of platforms available in the internet world.

As a result, it may be difficult to locate a provider who can suit your expectations. Below, we cover the numerous variables that must be taken into account when looking for the top online trading platforms in Malaysia.

Regulation

Your money is in danger if you use an unregulated trading site. This is because the platform may not adhere to safety protocols and isn’t regularly checked by authorities for cases of fraud or security breaching.

Also, it is impossible to know for sure whether you are trading under transparent and equitable terms. The top trading platforms in Malaysia that we have discussed on this page are highly regulated because of this.  service.

This also applies to CySEC and the FCA (UK) (Cyprus). These organizations guarantee that you can conduct business in a secure environment. Importantly, this implies that your money will be kept in separate bank accounts and that all platform users’ identities must be confirmed.

Assets

Most effective Malaysian trading platforms will offer a number of  asset classes to trade.

This covers all of it, from stocks and FX to cryptocurrencies and commodities.

But, if you want to trade a certain instrument, you must make sure that the supplier in question does so.

For instance, if stocks are your thing, you should stick with a reputable stock trading website like Plus500.

Fees

Although your favourite financial markets may be offered by your trading platform of choice, you must make sure that you can trade these instruments in a low-cost setting.

The following are the primary fees that you should take into account when looking for the best trading platforms in Malaysia:

• Commissions: When you purchase and sell an instrument on some platforms, a variable commission is applied. Having said that, some platforms allow you to trade commissions free.
• Spreads: Depending on the asset class and the platform you select, spreads can change dramatically. You might wish to take Libertex into consideration if low spreads are crucial to your trading approach. This is because there are no spread fees on the platform.
• Overnight Financing: For each day the position is open when trading CFDs, you must pay an overnight financing cost.
• Platform Fee: A platform fee is levied by some trading platforms in Malaysia. Typically, a percentage of the funds in your account will be charged for this. None of the top trading platforms for Malaysia mentioned today levies any kind of platform fee.
• Deposit/Withdrawal Fee: When you make a deposit, you might have to pay a fee—especially if you work with an international broker. This is so that the platform may convert ringgit to significant currencies like the US dollar or British pound.

As you can see, there are many fees that you might come across when finding a platform that meets your needs – so be sure to perform lots of homework before signing up.

Trading Tools & Features

Whether you are a seasoned trader or a total beginner, you’ll probably want access to a variety of tools and features to aid in your decision-making.

The finest online broker features that we found when examining the top trading platforms in Malaysia included the following:

Leverage

Using leverage requires caution since you risk losing far more than you bargained for. Leverage can, however, enable you to trade without having a significant amount of capital if used in a risk-averse manner.

• For instance, Skilling, which offers leverage up to 1:500 on the main forex markets and indices, is one of the greatest online trading platforms Malaysia has to offer.
• Simply put, you may enter a deal worth $100,000 with just a $200 account balance.

Remember that the precise asset classes you want to access as well as your selected trading platform will affect your leverage limitations. The greatest limitations apply to FX, indexes, and gold, while stock prices and cryptocurrency are typically significantly lower.

Chart Analysis

In Malaysia, the great majority of day traders and swing traders base their trading decisions on technical analysis. This indicates that they are competent in reading, analyzing, and interpreting pricing charts for the asset of their choice.

You should pick a trading platform that has a wide variety of charting tools in order to accomplish this. This should allow users to alter the chart area’s appearance, including the candlestick timeframes.

Also, you ought to have access to tools for creating charts and technical indicators. You will have access to all the chart analysis tools you require if you use a platform that supports MT4 like Libertex or Skilling.

User Experience

It’s crucial to choose a trading platform that provides an excellent user experience if you’re going to be trading online. This was a significant factor in this guide’s evaluation of the best trading platforms in Malaysia.

The following user experience, for instance, is provided by all of the platforms covered today:

• Easy to open an account – often taking just 10 minutes (including KYC)
• Simple and instant deposit process
• Find your chosen asset via a search facility or filter system
• Seamless order placing process
• Fast execution speeds

In the end, it’s likely that you won’t be able to trade profitably if your chosen platform doesn’t provide a solid overall user experience.

Demo Account

All of the best trading platforms for Malaysia discussed on this page, with the exception of Bursa Anywhere, have a demo account option. Other than immediately opening an account, there are no prerequisites to access this facility.

As a result, you can trade financial products in real-time market settings without having to take any financial risks. Before you deposit money and begin trading with your own money, this is an excellent method to get the hang of things.

Mobile App

The majority of traders in Malaysia utilize trading platforms that also have a mobile app. This is because, should you need to place an urgent order, you will always have access to your trading account. For instance, you might wish to close a profitable position while you’re away from home.

The top trading platforms in Malaysia that we have evaluated today all have an iOS or Android mobile app. You will have full functionality, which entails that the app will offer all of the same account functions as the main desktop website.

Payment Methods

The best trading platforms in Malaysia accept a variety of deposit methods. According to our research, using a local debit or credit card that is issued by either Visa or MasterCard is the simplest way to fund your brokerage account.

A number of providers – such as Capitall.com, Libertex, and Skilling, also support e-wallets.

Customer Service

As previously said, the majority of traders in Malaysia use online brokers that are based abroad. This is so because they often have a ton of tradable marketplaces and are governed by trustworthy financial services organizations.

It’s crucial that the platform you choose provides round-the-clock customer service.

You won’t need to get in touch with a support team member at all during the night thanks to this. The top trading platforms in Malaysia, according to our research, provide support via Live Chat.

How to Start with the Best Trading Platform in Malaysia

Here, we will provide you with a step-by-step guide on how you can start trading in Malaysia using this guide. Learn how you can start investing below by using Oanda as the best trading platform in Malaysia.

Step 1: Open a Trading Account

If you go to the Oanda site and click the Join Now button, you will be taken to the registration page.

If you do not have an email address or do not want to use a Facebook or Google account, then you can create an account by using your email address.

As part of the registration process, you will need to complete a knowledge questionnaire. This id done so that the trading tools offered are tailored to your experience and needs. The questionnaire only takes a few minutes to complete.

Step 2: Verify Your Identity

If you want to deposit and start trading, you will need to confirm your identity in this step. As instructed by Oanda guidelines, upload a clear image of a valid ID such as a passport or driver’s license as a form of identification.

Step 3: Deposit Funds

It is now possible to deposit funds into your Oanda account once Oanda has verified your account completely. If you wish to add equity to your account, you have the option to choose from a wide range of payment methods, but you will have to meet the minimum deposit amount.

Step 4: Search For Some Trading Options

In this step, you will need to choose a trading type. A good idea is to practice doing this with the Oanda demo account first. The demo trader is free to use and can be used as much as you like before live trading.

Through the demo account, you can explore the range of CFD trading instruments that Oanda has to offer.

Step 5: Place a Trade

Depending on whether you believe the value of the financial instrument will rise or fall, once you have located an asset to trade, click the “Buy” or “Sell” option.

You only need to input the amount you want to stake on this deal after that. By default, you will be submitting a “Market Order,” which guarantees that your transaction will be carried out right away at the most competitive price. But, you need alter this to a “Limit Order” if you want to enter the transaction at a certain price.

With Oanda, you may also set up stop-loss and take-profit orders, which is advised for risk management.

Lastly, verify the order to close your first trade!

Best Trading Platforms in Malaysia- Conclusion

In conclusion, the internet trading market today boasts dozens of top-tier trading platforms. There are a lot more, but we’ve just covered a few of the best trading platforms in Malaysia.

Always do your research before signing up with an online trading platform, that’s the main thing to keep in mind. Metrics like regulation, tradeable assets, leverage, payments, and fees should all be given special attention.

Oanda is a good option to think about if you want to start trading with the greatest trading platform available in Malaysia right now. With a $0 deposit, this platform is excellent for those who have a small budget!

Your capital is at risk.

71.2% of retail investor accounts lose money when trading CFDs with this provider.

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