Compare Brokers in Malaysia

Looking for brokers in malaysia? We have compared 20 broker accounts (out of 147) that are suitable for you below.

We found 20 broker accounts (out of 147) that are suitable for Malaysia.

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ThinkMarkets

Spreads From

EURUSD 0.1 points See all spreads

What can you trade?

  • Forex
  • Cryptocurrencies
  • Indices
  • Commodities
  • Stocks
  • ETFs

About ThinkMarkets

  • Regulated by: Financial Conduct Authority and ASIC.
  • Established in 2010 HQ in Australia.

Platforms

  • MT4
  • MT5
  • Web Trader
  • Mobile App

Funding Methods

  • Credit cards
  • PayPal
  • Bank transfer

Open a demo account

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Losses can exceed deposits

Read our in-depth ThinkMarkets review

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.

The Ultimate Guide to

The Malaysian Financial Market

Previously known as the Kuala Lumpur Stock Exchange, in 2004 Malaysia’s primary stock market became the Bursa Malaysia Exchange. Run by the Bursa Malaysia holding company in Kuala Lumpur, the exchange aims to provide a steady infrastructure for the country’s marketplace.

While well-established large-cap stocks trade on the main Bursa Malaysia exchange, smaller cap stocks of emerging companies trade on the ACE Market. The main stock index for the Bursa Malaysia Exchange is the FTSE Bursa Malaysia KLCI or simply the FBM KLCI, with KLCI standing for the Kuala Lumpur Composite Index. This capitalisation-weighted headline index is made up of the 30 biggest companies listed on the Bursa Malaysia that meet the index’s criteria.

To promote Malaysia as an international nexus of Islamic banking and finance, Bursa Malaysia established an Islamic Markets group. This aims to develop a Shariah law compliant trading platform and suitable financial products. Shariah-compliant products traded on the Bursa Malaysia include i-Stocks, i- Indices, i-ETFs, i-REITs and Sukuk (Islamic financial certificates like bonds).

Furthermore, Bursa Malaysia Derivatives Berhad (BMD) was established in 1993 to provide a marketplace in commodity, equity and financial derivatives relevant to Malaysia. BMD’s products are now tradable via the CME Globex trading platform to allow greater access to Malaysian derivatives within the global market.  In addition, the Labuan International Financial Exchange (LFX) was launched in November 2000 following the territory’s designation as an international financial centre in 1990.

Forex traders may recognise the Malaysian ringgit (MYR) as Malaysia’s national currency, although the MYR is not a common reserve currency among central banks, according to the International Monetary Fund (IMF). The ringgit was ranked 25th by the Bank for International Settlements (BIS) among the most actively traded currencies in 2016, making up around 0.4 percent of the overall forex market’s daily turnover that was about the same as its market share in 2013.

Financial regulation in Malaysia for online forex and contract for difference (CFD) brokers falls under the auspices of the Securities Commission Malaysia (SCM) that was established in March of 1993 under the authority of the Securities Commission Act 1993 (SCA). This self-funded statutory body reports to the Minister of Finance and has responsibility for regulating and developing the Malaysian capital markets, including businesses and persons who hold licenses under the Capital Markets and Services Act of 2007.

Trading in Malaysia

When looking for an online broker to trade forex or CFDs with, make sure to choose a well-regulated broker that has a strong reputation with clients, since they should be suitable for entrusting a margin deposit with them.

Online brokers generally offer several trading accounts for traders, including:

  • Forex Trading:  Exchanging one currency for another forms the basis of forex trading. Exchange rates fluctuate as one currency rises or falls relative to another in particular currency pair. The popularity of forex trading has expanded greatly once online trading became possible. The forex market is the most liquid and largest financial market globally and had a daily turnover of $5.1 trillion/day in April 2016, according to data compiled by the BIS.
  • CFD Trading:  Making transactions in derivative financial instruments known as contracts for difference (CFDs) allows traders to speculate on the future of their underlying assets. Such assets can consist of a currency pair, commodity, stock, stock index or other financial instruments.
  • Demo accounts: Funded with virtual money, these accounts can be used to practice trading, test a strategy or check out a broker’s services and platform. Find out more on opening demo accounts here.
  • Islamic accounts: These are suitable for traders who wish to trade in an account that conforms to Sharia law. Find out more on trading with an Islamic account.

With respect to trading stocks, the Bursa Malaysia Exchange provides trade execution in Malaysian stocks, fixed income products, funds and exchange-traded funds (ETFs), including Islamic products. Exchange transactions are largely executed in Malaysian ringgits.

Opportunities of Trading in Malaysia

According to export.gov, Malaysia also has a very favourable geographical position as “a crossroads of trade between the East and West” and has especially liberal trade policies that can result in good trading opportunities. International trade remains very important to Malaysia, with the World Trade Organization (WTO) reporting that imports and exports of goods and services equated to roughly 130% of GDP as of 2016. 

Malaysia also has a strong financial services sector that specialises in providing Islamic investment products and accounts.  The country offers additional advantages for doing business as follows:

  • A relatively high-tech and competitive nation
  • Gas and oil producing country
  • Widespread use of English
  • A well-established legal framework
  • Excellent infrastructure
  • High visa approval rate
  • Recognises the importance of international trade and relations
  • Was a founding member of the World Trade Organisation

Furthermore, Malaysia was ranked 15th for the overall ease of doing business by the World Bank, and the country ranked even better at 2nd for protecting minority investors. When it comes to practical matters for new businesses planning on opening an office, like getting electricity and dealing with registering property, Malaysia ranked favourably at 4th and 29th respectively. The country also ranked an impressive 3rd for ease of dealing with construction permits.

Challenges of Trading in Malaysia

China and the United States remain two of Malaysia’s largest trading partners, so any strain in the relationship between these neighbours, such as an escalating trade war, could cast significant uncertainty on the Malaysian economy. As a consistent net exporter with a high trade-to-GDP ratio, Malaysia’s economy can suffer from tariffs, trade wars and the failure of major trade agreements.

Furthermore, the overall forecast for Malaysian and other Asian stock markets in 2019 have, according to reports, remained rather negative. This is largely due to concerns about global economic health, as well as ongoing profit taking activity and worries over the U.S.-China trade war.

Bank Negara Malaysia, the Malaysian central bank, has often intervened in the currency market to stabilise the USD/MYR exchange rate, which can sometimes trend notably over time. These currency valuation shifts can cause foreign exchange uncertainty for traders and businesses looking for a more stable environment to operate in.

When it comes to starting a business, the World Bank ranked Malaysia a rather poor 122nd compared to other countries, although the country ranked 32nd for obtaining credit. This indicates a relatively unfavourable environment for starting up a business that requires local financing.

Summary

Overall, many traders and businesses find Malaysia a relatively favourable country to operate in due to its liberal trade laws and diligent financial regulatory oversight by Securities Commission Malaysia.

When searching for a broker to trade through in Malaysia, people should check to see that they offer a suitable range of asset classes, a decent trading platform, strong regulation and adequate financial security for a margin deposit. Furthermore, Islamic traders may find Malaysia an especially good place to open Sharia law compliant accounts and trade Islamic financial products.

Why Choose ThinkMarkets
For Malaysia?

ThinkMarkets scored best in our review of the top brokers for malaysia, which takes into account 120+ factors across eight categories. Here are some areas where ThinkMarkets scored highly in:

  • 8+ years in business
  • Offers 50+ instruments
  • A range of platform inc. MT4, Mac, Web Trader, Tablet & Mobile apps
  • 24/7 customer service
  • Tight spreads from 0.10pips
  • Used by 0+ traders.
  • Offers demo account
  • 2 languages

ThinkMarkets offers two ways to tradeForex, CFDs. If you wanted to trade EURUSD

The two most important categories in our rating system are the cost of trading and the broker’s trust score. To calculate a broker’s trust score, we take into account a range of factors, including their regulation history, years in business, liquidity provider etc.

ThinkMarkets have a B trust score, which is good. This is largely down to them being regulated by Financial Conduct Authority and ASIC, segregating client funds, being segregating client funds, being established for over 8

Trust Score comparison

ThinkMarkets
Trust Score B
Established in 2010
Regulated by Financial Conduct Authority and ASIC
Uses tier 1 banks
Company Type Private
Segregates client funds

A Comparison of ThinkMarkets


Want to see how ThinkMarkets? We’ve compared their spreads, features, and key information below.



Spread & fee comparsion

The spreads below are illustrative. For more accurate pricing information, click on the names of the brokers at the top of the table to open their websites in a new tab.
ThinkMarkets
Fixed Spreads
Variable Spreads
EUR/USD Spread 0.10
GBP/USD Spread 1.2
USD/CAD Spread 0.9
USD/JPY Spread 0.10
DAX Spread
FTSE 100 Spread N/A
S&P500 Spread

Comparison of account & trading features

ThinkMarkets
Platform MT4, Mac, Web Trader, Tablet & Mobile apps
Services Forex, CFDs
Base currency options USD, GBP, EUR, CHF, JPY, SGD, AUD, CAD, NZD, CNH
Funding options Payoneer, Credit cards, Bank transfer, Neteller, BPAY, UnionPay, FasaPay, DebitCard,
Micro account
ECN account

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.