In Malaysia, trading on Forex is totally legal and supported by authorities. Thus, many local residents are in search of a broker.
How to Choose a Forex Broker in Malaysia?
- A license. In this country, such companies are monitored by the Securities Commission Malaysia or the Labuan Financial Services Authority. Before registering on any platform, make sure the broker Malaysia chosen has a license from one of these authorities.
- The reputation of the company. Do a search on the Web and see whether there were any security problems or other negative incidents. Also, reading other traders’ reviews will help ― you will get a clear idea of whether their website operates properly, whether they charge any hidden commissions, whether their support service is easy to access, and whether there are any delays in withdrawals and other procedures.
- A demo account. Never transfer real money to a broker before you check its services via a demo account.
- Passive trading. Both beginners and experienced traders can take advantage of copy trading and similar features and try earning at minimum time expense or even in a passive or automated mode.
- Educational materials, researches, forecasts. A trader cannot cope without such informational support.
Also Read: Where to Find a Trading Robot?
So, what is the best Forex brokerage company? Obviously, there is no universal answer ― so many traders, so many minds. Your choice will depend on your personal needs, available funds, strategies chosen. Still, we would like to name a few platforms, which will be a good variant both for beginners and for experienced traders. These are eToro, FxPro, AvaTrade. All of them offer reasonable minimum deposit limits from $50 to $100, copy trading features, demo accounts, and a good selection of educational guides.