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Whether you’re just starting out in the forex space or are a seasoned trader in FX, it definitely pays to find the best forex trading platform Malaysia. Taking into account usability, user-friendliness, fees, and more, ultimately the best forex social trading platform for you will depend on your preferences.

In this article, we will review the best online forex trading platforms and hopefully help you figure out which platform gives the most value for your use.

Contents

Best Forex Trading Platforms Malaysia List

With dozens of free forex social trading platforms available out there, we have brought up our selection of the five notable forex platforms. These web trading platforms forex each have their own special and unique features.

  1. eToro: Overall Best Online Forex Trading Platform Malaysia
  2. Libertex: Best Online Forex Trading Malaysia with Lowest Fees
  3. Plus500: Best CFD provider Malaysia Forex Platform
  4. Skilling: Best Online Forex Trading for Beginners

Best Forex Trading Platforms Malaysia Reviewed

1. eToro – Overall Best Online Forex Trading Platform Malaysia

best forex trading platform

Founded in 2007, eToro is an all-in-one online trading broker known for its social and copy trading systems as well as its enduring proprietary trading platform. With tens of millions of users under its belt and consistent regulation, it continues to be one of the safest trading platforms.

We give eToro the title of overall best trading platform for forex, simply because of how compatible its features are with the process of actual trading. If we were to break it down, most users would just like to easily put their money in, trade, and invest easily, then finally pull out from their accounts when they can.

Aside from being one of the best online forex platforms Malaysia, eToro is also among the best forex trading platforms for beginners. Their demo trading features let users explore the trading of different financial instruments without the need for any initial investment. They’re given virtual equity to trade for themselves and learn the movements and how the price moves based on their strategy of choice.

forex trading platform

In forex, eToro boasts a decent 49 tradable currency pairs at up to a 1:30 leverage option. The platform also includes over 2,600 stocks, 32 commodities, 41 cryptos, 13 indices, and 263 ETFs.

eToro fees

Fee Amount
Stock trading fee Free
Forex trading fee Spread, 2.1 pips for GBP/USD
Crypto trading fee Spread, 0.75% for Bitcoin
Inactivity fee $10 a month after one year
Withdrawal fee $5

Pros:

  • Trade forex, stocks, indices, ETFs, cryptocurrencies, and more
  • Zero commission
  • Debit/credit card, PayPal, and other payment methods available
  • Forex social trading platform with copy trading other equities
  • Easy-to-use mobile app
  • Regulated by the FCA, ASIC, and CySEC

Cons:

  • Missing the smaller cryptos, stocks, and other equities
  • Lacks advanced technical trading tools and indicators

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

2. Libertex - Best Online Forex Trading Malaysia with Lowest Fees

the best forex trading platform

If you’re looking to do forex trading at a low cost and at any time and anywhere, then consider Libertex. In terms of cost, it’s the best forex social trading platform for trading in Malaysia as it only has a 0.006% brokerage fee. With over 250 tradable assets and 40 international awards, the platform is globally renowned and reliable.

For seasoned traders who have setups already with MetaTrader 4 and MetaTrader 5, using Libertex will be pleasant as the online broker can integrate both platforms. Users will also find good educational articles on the site as well as a demo account for forex, making the Libertex platform among the best forex social trading platforms for beginners.

Libertex fees

Fee Amount
Stock trading fee Commission. 0.034% for Amazon.
Forex trading fee Commission. 0.008% for GBP/USD.
Crypto trading fee Commission. 1.23% for Bitcoin.
Inactivity fee $5 a month after 180 days
Withdrawal fee Free

Pros:

  • One of the lowest costs with fixed commissions instead of spreads
  • MetaTrader 4 & 5 available
  • No deposit fees
  • Multiple payment methods
  • Accepts PayPal
  • Trade anywhere with the mobile app
  • Demo account with virtual equity of 50,000 Euros
  • Great educational resources for beginners
  • Investment account available for purchase of real shares

Cons:

  • Limited customer support available
  • Trading is limited to CFDs

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.

3. Plus500 - Best CFD provider Malaysia Forex Platform

forex social trading platform

Perhaps the best forex social trading platform in Malaysia for those looking for high leverage is Plus500. They offer more than 60 currency pairs with up to 1:300 leverage, meaning $100 dollars of equity can amount to a $30,000 position. In that vein, Plus500 is recommended for more experienced traders who can manage the highly leveraged position.

Plus500 fees

Fee Amount
Stock trading fee Spread. 23.51 pips for Amazon.
Forex trading fee Variable spreads
Crypto trading fee Spread. 4.11% for Bitcoin.
Inactivity fee £10 per month after three months
Withdrawal fee Free

Pros:

  • Tight spreads
  • Up to 1:300 leverage
  • Advanced trading tools with stop loss and guaranteed stop to limit losses
  • Easy account opening
  • Demo account available
  • Zero deposit and withdrawal fees
  • Authorized and regulated by the Financial Conduct Authority (FCA)

Cons:

  • Not available in many countries
  • Requires inactivity fee

71% of retail investor accounts lose money when trading CFDs with this provider. 

4. Skilling - Best Online Forex Trading for Beginners

best online forex trading platform

One of the newest platforms for trading is Skilling, a no-frills and straightforward broker that promises the ultimate transparency and a clean-cut trading experience. Those looking for the best forex trading platform for beginners might consider it to be the best online trading platform in Malaysia.

What separates Skilling from other brokers is that instead of having one platform for all traders to use, it integrates different platforms depending on the level of experience of the user. This means that beginner and seasoned traders alike can enjoy trading with Skilling. 

For forex traders, Skilling has 80 currency pairs and offers up to 500:1 leverage for major fx pairs and 200:1 for minor fx pairs. The broker also has reasonable spread prices at around 0.7 pips.

Skilling fees

Fee Amount
Stock trading fee o% Commission on Skilling's Trader Account
Forex trading fee Variable spreads starting from 0.7%
Crypto trading fee Spread. 0.20% for Bitcoin.
Inactivity fee €10 per month after one year
Withdrawal fee Free

Pros:

  • Zero commissions
  • Competitive spreads vs rival platforms
  • Copy trading feature available
  • Trading courses available for beginners
  • Licensed and regulated by the FCA
  • Free demo account
  • Highly transparent platform
  • Up to 10:1 leverage on stocks
  • Different account types available for experience levels
  • Low spreads on Crypto CFDs

Cons:

  • Lacks certain stocks and crypto
  • No support for MetaTrader platforms

Your capital is at risk.

Best Forex Trading Platform Malaysia Comparison

Trading
Platform Fees
Stock trading
fees
Forex trading
fees
Overnight
fees
eToro Free Variable spread Overnight fees for CFDs. No overnight fees for non-leveraged stocks, ETFs, and crypto.
Libertex 0%-0.46% commission Commission Yes. Taken at end of each trading day at 9 pm GMT as interest, which may be positive or negative. For CFDs, the overnight fee is triple when holding from Friday to Monday.
Plus500 Variable spread Variable spread Yes. Applies to all instruments.
Skilling 0% Commission Variable spread starting from 0.7 pips Yes. Applies to all instruments.

How to Choose the Best Forex Trading Platform Malaysia for You

Finding the best forex platform Malaysia for you requires not only an assessment of what you’re looking for in a broker, but also what the broker has to offer. For example, if you’re looking to trade with large positions and are okay with normal margins for leveraged trading, then you can consider platforms that offer more features aside from margin.

In this portion of finding the right Malaysia forex social trading platform for you, we’ll go through the many aspects that can help you identify what broker will work for you.

Regulation

It goes without saying that to be the best forex social trading platform Malaysia a broker must be one of the safest. This is why one of the biggest factors when considering the best online trading platform Malaysia is the regulation. Having a licensed regulator overlooking the platform is definitely a requirement when it comes to becoming the best trading platform for forex. 

Security and account safety must be above all the first feature that users should look at. Even if a platform somehow magically promises to be the best online forex platform Malaysia or the best forex trading platform for beginners with almost assured high returns, if accounts can easily be hacked and equity stolen, then it doesn’t matter.

Forex Pairs

The most fundamental units when trading forex are forex or fx pairs. Just like how some investors in the stock market hedge or diversify their positions by trading multiple stocks, forex traders can also better diversify their portfolios by trading multiple forex pairs within a certain timeframe.

Although it is generally better to have more options when it comes to forex pairs, it also depends on the strategy of the trader as well as their experience. New forex traders might only look to stick to two or three forex pairs when starting, meaning the best forex trading platform for beginners might not need too many forex pairs.

forex pairs libertex

Conversely, fx traders who like to trade dozens of fx pairs because their strategy requires them too will think that the best forex platform in Malaysia might be the one with the most forex pairs tradable. 

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Fees

For the uninitiated, traders (including fx traders) usually treat their investments and personal portfolios as a business. This means that although they will initially incur costs, their returns on their investments will more than make up for it. 

This means that the best free forex trading platform Malaysia may have more fees than usual, but if it can justify those fees by giving its users more chances to earn, then it shouldn’t matter. For example, eToro does charge fees when withdrawing, but it offsets this by giving users more chances to earn via social and copy trading.

Generally, however, fewer fees are better and more welcome. Advanced traders who have access to other tools and indicators might consider the best online web trading platform forex Malaysia to be the one with the least fees.

Forex Trading Commission

One of the most common ways that brokers used to earn was through trading commissions. These were additional fees placed in executions that were for the broker who helped execute the trade. Most online brokers have absolutely no commission fees and rely on things like the spread to earn from trades.

Forex Trading Spreads

When it comes to the best forex trading platform Malaysia, forex trading spreads are a very important aspect to consider. Any fx trader wouldn’t want high spreads when trading as it will increase their risk of losing positions and also decrease their profitability per trade.

Tighter spreads are definitely a preference for any trader, especially for beginners as they usually need to execute many trades in the demo account to learn more about the market. The best forex trading platform for beginners should have a demo account available and favorable spreads.

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Leverage Fees

When using leverage in trading, you’re essentially borrowing money from the broker to increase your stake in any position. Because you’re borrowing money, interest is expected, and so this is why brokers charge fees for those who use leverage. 

Leverage fees usually occur for leveraged positions that are held overnight or over the weekend. These fees usually add up if the positions haven’t closed and could be significant in the gains of any trader. Perhaps the best Malaysian web trading platform forex has low leverage fees for users who want to keep positions overnight, especially in fx markets.

Other Fees

One of the most common fees for brokers is the inactivity fee. Maybe the best online trading platform for forex has no fees for inactivity or has their inactivity fees in long intervals like annually. It can even be argued that the platform for beginners shouldn’t have inactivity fees as it is unclear how long new traders will stick to their accounts.

Trading Tools and Features

In order to make accurate and high probability decisions when trading forex, trading tools, and features have to be top-notch or at least highly usable. For the best online web trading platform forex Malaysia, trading tools like moving averages and volume-based technical indicators can make the difference between winning and losing traders.

forex trading platform malaysia

It’s also important for beginners to learn and slowly become accustomed to trading tools and features as they’ll need to use things one way or another in the future. The best trading platform for forex (beginners) should definitely have educational features that help newbies learn trading tools easily and understand the market well.

Leverage

Leverage in trading poses many advantages for both the brokers and the traders, but having the highest leverage possible does not necessarily make a broker have the best trading platform for forex. Perhaps brokers should only consider leverage as high as their target market usually needs, and for forex traders, it seems the standard is 30:1.

Platforms with higher leverage options are usually for more professional and full-time traders who really like to optimize their setups and have multiple tried and tested strategies that can really utilize highly leveraged positions.

Order Types

There are different order types in forex, and the differences matter in terms of the price and time a certain order must be executed. Usually, forex traders who want to make trades instantly use Market Orders which executes a trade at the exact price that is available in that instance. 

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

The other order type, Pending Orders, occurs at a later time, specifically when the price of an fx pair is hit. This allows traders to open or close positions at a specified price. More options when it comes to ordering types favor Malaysian brokers that look to have the best trading platform for forex in Malaysia.

Automated Trading

Experienced traders may have knowledge of automated trading, especially those using the MetaTrader 4 or 5 platforms. Copy-trading can even be considered automated trading as positions are open and closed depending on the portfolio of another trader. Automated trading is generally a great feature to have both to be the best forex platform for beginners and generally the best Malaysian web trading platform forex.

Forex EAs

Another more advanced software that is being used for forex is the Expert Advisor (EA). Again, MT4 and MT5 users may have experienced using the software as it helps traders find the right timing when trading.

Alerts

Especially for platforms that have mobile apps, alerts are very important to let users know when their positions hit a certain price. Most forex platforms have this feature, but perhaps the best Malaysia forex trading platform has consistent and necessary alert features.

Education, Research, and Analysis

free forex trading platform

Brokers looking to be the best trading platform for forex (for beginners) and even intermediate traders will need good educational resources for their users. Their research and analysis also have to be easily digestible but also deep enough to remain relevant to all. 

The difference between a good platform and the best online forex trading platform Malaysia can very well be the types of research and analysis that is given.

User Experience

User experience can also make or break a broker platform. Bad customer service or an unforgiving user interface can turn off any user regardless of experience level. This is why one of the most important things in looking for the best trading platform for forex is the experience and overall feel of using the system.

Demo Account

Not only are demo accounts important to help new traders become familiar with the market, but also for advanced traders to test out new strategies. The best Malaysian forex platform should have a demo account available in this regard.

Customer Service

The forex market runs 24/7, all year round. This means that trades are being made even during the holidays and weekends. Although the standard customer service times are 24/5, there are some brokers that have the edge with 24/7 customer service. This may be an important factor when it comes to being the best online forex trading platform Malaysia.

How to Start Forex Trading in Malaysia

In this last section, we’ll show you a step-by-step guide on how to start trading forex in Malaysia. Using eToro as the sample broker, follow this instructional section to start trading forex.

1. Open an Account and Upload ID

best forex trading platform in malaysia

Head on over to the eToro site and press the Join Now button. Create an account with your email address or through a Facebook or Google account. 

67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Step 2: Confirm Identity

malaysia forex trading platform

For this next step, you’ll need to verify your identity so that you can deposit and do live trading. Upload a clear picture of a valid ID like a passport or driver’s license and continue following the instructions that are given to you by eToro. 

Step 3: Deposit Funds

web trading platform forex

Once eToro has verified your account completely, you may now deposit funds. Choose from a wide range of payment options and make sure to follow the minimum deposit rules. 

Step 4: Search for Forex Trading Pair

best trading platform for forex

In this step, simply go to the search bar and type the currency pair that you are looking to trade. Let’s say you want to start trading USD/EUR, simply type “USDEUR” and click the ‘Trade’ button when it pops up. It should lead you to the order form where you can finally place your trade.

Step 5: Place a Trade

safest forex trading platform

In the order form, enter how many shares you want to purchase as well as the amount that you want to trade. You also have the option of choosing your leverage value, and stop loss and take profit prices.

67% of retail investor accounts lose money when trading CFDs with this provider

Best Forex Trading Platform Malaysia - Conclusion

There are many factors when it comes to finding the best forex trading platform Malaysia for forex and it’s definitely not easy to recommend just one best platform that can work for any user. However, taking to account the most important features when it comes to forex which is security and user experience which is what the average trader might be looking for, our overall best forex platform Malaysia has to be eToro.

If you want to start trading forex with eToro, invest and buy shares using the eToro platform. Click on the link below to start trading!

eToro - Overall Best Forex Trading Platform Malaysia

best forex trading platform for beginners

67% of retail investor accounts lose money when trading CFDs with this provider. Your capital is at risk.

FAQ

Which forex platform Malaysia charges the lowest fees?

When it comes to trading fees, Libertex will be the lowest Malaysia forex trading platform.

Which forex platform Malaysia offers the most currency pairs?

Libertex is the forex platform Malaysia that offers the most currency pairs.

What is the safest forex trading platform for beginners?

We recommend eToro or Skilling as the best Malaysia trading platforms for beginners.

Are Malaysia trading platforms safe?

The Malaysia forex trading platforms we reviewed in this article are safe as they are licensed by the appropriate regulatory bodies.

How do forex platforms make money?

There are many different ways that Malaysia trading platforms earn. They usually do this through the spread, but other platforms earn through different fees like commission or deposit fees.

Which forex platforms in Malaysia accept Paypal?

eToro, Libertex and Plus500 are all Malaysia forex trading platforms that accept PayPal.

What is the best forex trading platform Malaysia?

Overall, the best forex platform in Malaysia is eToro as it is a well-balanced and all-around great platform.

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About Jose Rafael Aquino
About Jose Rafael Aquino

Jose Rafael Aquino is a Filipino writer and entrepreneur that specializes in finance, technology, cryptocurrency, and sports. Versed in the startup tech space, he has written for websites such as The GUIDON, StockApps, and BuyShares.