Best Forex Brokers Malaysia for Beginners 2026
Top beginner-friendly forex brokers in Malaysia with Islamic (Swap-Free) accounts, FPX bank transfers, and free education. Start with RM 15.
Written by
James Anderson
Fact Checked by
Emily Watson
Top 10 Forex Brokers for Malaysian Beginners
For Malaysian beginners, it is crucial to choose a broker that offers Islamic (Halal) accounts to comply with Sharia law. Top brokers also support instant FPX deposits via Maybank, CIMB, and other local banks.
Is forex trading legal in Malaysia?
Forex trading is legal in Malaysia if you use a licensed institution or your own money. However, BNM advises caution. Many Malaysians trade with international regulated brokers.
Beginner Features
Compare education quality and Islamic account availability.
| Broker | ||
|---|---|---|
| XM | RM 25 | |
| HFM | RM 0 | |
| Exness | RM 50 | |
| FXTM | RM 50 | |
| AvaTrade | RM 450 | |
| OctaFX | RM 100 | |
| FBS | RM 25 | |
| Tickmill | RM 450 | |
| Pepperstone | RM 0 | |
| IC Markets | RM 900 |
Detailed Broker Analysis
Best Islamic Account.
XM offers a swap-free Islamic account with no hidden fees. They have excellent local seminars in KL and Penang.
Top Copy Trading.
HFM (formerly HotForex) is very popular in Malaysia for its copy trading service and full Sharia compliance.
Fast Withdrawals.
Exness allows instant withdrawals to Maybank, CIMB, and others. The platform is very easy for beginners.
Simple Platform.
OctaFX focuses heavily on the Malaysian market with localized support and contests. Good for new traders.
Best Education.
FXTM is known for its high-quality Forex 101 courses. Great if you want to study before trading.
Cent Account.
FBS offers a Cent account for ultra-low risk trading. Regulated internationally.
Low Costs.
Tickmill has very low spreads but education is better suited for intermediate traders.
Pro Tools.
Pepperstone is excellent but lacks FPX support, meaning you might pay currency conversion fees on cards.
Best for EAs.
IC Markets is the best for automated trading. High minimum deposit ($200) makes it a second step for beginners.
Fixed Spreads.
AvaTrade offers fixed spreads and reliable service. AvaSocial is good for copying trades.
Frequently Asked Questions
Top Forex Brokers Malaysia for Beginners
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January 2026