10 Best Forex Traders in Malaysia (2023) – ☑️Pros & Cons Revealed (2023)

Forex Trading in Malaysia has become very popular amongst Malaysian residents over recent years and to their benefit, any internationally regulated forex broker can accept clients from Malaysia, if they so choose. Malaysiais a country situated inSoutheast Asia with a population of approximately 32 Million potential Forex Traders.

Choose your quick section of our Forex Traders in Malaysia below.

10 Best Handpicked Forex Traders in Malaysia Revealed:

• ✔️Oma Ally

• ✔️Rayn Lim

• ✔️Sufiansaid

• SL-Trades

• MyTradingSpace_JK

• tohchin7010

• Teehanming

• LCFXpro

• Ezone Constantine

• Khalid Hamid

Three main factors can be seen as major contributors to the notable rise in popularity, namely the economic climate, regulatory commissions, and government support. These factors, in turn, create a perfect environment for Malaysian traders in which to flourish and the country has offered up some of the best Forex Traders in the world.

Oma Ally

Oma Ally is a Malaysian trader famous for developing the BBMA (an abbreviation ofBollinger BandsandMoving Average) strategy. Through extensive researches and tests, Ally found the perfect formula utilizing these indicators and brought forth a strategy dubbed BBMA Oma Ally. This trading strategy is well-known for being highly accurate with a low floating time, and multiple entries. Ally is renowned for sharing his knowledge with fellow investors and has been known to have mentored multiple successful traders over the years. BBMA OA is a trading community with members largely based in Malaysia, Indonesia, and Brunei Darussalam. The community is very popular amongst Telegram users, boasting thousands of members. Oma Ally regularly opens trading classes for those who want to learn more about BBMA.

Rayn Lim

Rayn Lim is a Singaporean trader which mainly operates from his native country. Nevertheless, it should be noted that Malaysia and Singapore share borders and have the same time zone, therefor Rayn Lim is included in this list of successful Malaysian traders. Rayn Lim has been active on TradingView for over three years with approximately 98% of his activity dedicated to the foreign exchange. Rayn Lim is known for regularly sharing his analysis on the market, bullish and bearish signals as well as shark setups. Lim holds the certification of Harmonic Patterns Trading Coach and offers paid professional consultation to traders who face specific obstacles.

Sufiansaid

Not much is known about the trader behind this account. It is said that the trader originated from Brunei Darussalam, a country which borders Malaysia and shares the same time zone. This mystery trader joined TradingView approximately 4 years ago and the account has gathered around 270 followers. Sufiansaid primarily works on currency pairs with around 75% of his focus falling on foreign exchange. This account is seen as one of the most experienced forex traders in the Malaysian region. The Sufiansaid account regularly posts insights on bullishlong term tradingplans and bearish short-term plans, a lot of self-explanatory charts and information on various currency pairs.

SL-Trades

SL-Trades is the trading account of an investor from Sarawak, Malaysia. The account was started approximately 1 year ago and has 179 followers thus far. SL-Trades is a well-rounded trader who operates in both Foreign exchange and stocks. SL-Trades offers a lot of information on his page, including tips on trading in general.

MyTradingSpace_JK

MyTradingSpace_JK is the trading account of Jeanne Kong, a Malaysian trader. Previously known as Jeannek, she joined TradingView approximately 5 years ago and has gained around 152 followers with 1/5th of her followers actively participating on her page. Her focus largely falls oncommodities and cryptocurrency trading. Jeanne Kong works on bearish trends and shares interesting information related to trading in general.

tohchin7010

tohchin7010 is an account from Malaysia which was registered approximately 3 years ago. Unfortunately, not much is known about the trader behind the account. For the most part, the account focuses on commodities, forex andindices. tohchin7010 has a characteristic take on Forex trading in which they work on the Indonesian Rupiah (IDR) and Malaysian Ringgit (MYR), both of which are paired with the Singapore Dollar (SGD).

Teehanming

Teehanming is an account which joined TradingView around 8 months ago. The Malaysian trader behind the account offers well-structured information about forex trading in general. The teehanming account focuses mainly on Malaysian stocks.

LCFXpro

LCFXpro is an account which joined TradingView around 3 years ago, with 19,400+ followers, and approximately 1,000 ideas. LCFXpro is a professional account which is managed by a company based in Bali, Indonesia which is in close proximity to Malaysia. LCFXpro mainly focuses on forex trading with both long term and short-term outlooks. The account also offers bullish and bearish market plans.

Ezone Constantine

Ezone Constantine is the cofounder of TAD trading system, one of the most prominent technical stock trading systems in Malaysia. Through his flagship forex trading course – Ultimate Forex Program (UFP), he helps traders to go from beginner to pro. Ezone holds a Bachelor’s in Petroleum Engineering and has over 10 years’ experience in multiple markets including stocks, futures, mutual funds and currencies. Constantine is also a Certified Financial Technician (CFTe) under the International Federation of Technical Analysts, IFTA (USA) as well as a Full Member of Society Of Technical Analysts (MSTA) the United Kingdom. This traders strength lies in chart pattern analysis, Fibonacci targeting and Bollinger trading systems respectively.

Khalid Hamid

Khalid Hamid is one of the most famous forex traders in Malaysia. He started off his career by offering a trading course called Teknik Forex Sebenar back in 2011 and the community has now evolved intoTFS Price Action Trading. According to the website, Hamid has taught thousands of traders from the region. Khalid graduated with a Bachelors’ Degree in Accounting from University Malaya and has over 12 years’ of experience in forex trading.

In order for any Forex Trader to make a start in the Financial Market they must choose a Forex Broker with which to invest. Several Factors to consider when choosing a Forex Broker includes:

• The trading conditions available. Traders should find out which spreads, commissions if any, and swap rates for the currency pairs are on offer.
• Minimum deposit requirements.
• Currency pairs available for trading.
• Dedicated customer support.

It’s important for traders to have a good partner by their side, and they should choose carefully and look for a broker with a long history in the Forex market.

Here is an overview of the 10 Best Forex Brokers and Trading Platforms accepting Malaysian Forex Traders.

Forex.com

Forex.com is a platform which can be used for trading foreign currencies and precious metals. Traders can trade over 80 currency pairs as well as silver and gold.

Pros and Cons

To open a live trading account, traders will need a minimum deposit of at least $50.

Trading benefits

Customer support is available by phone, live chat, or email 24 hours a day during market hours.

XTB

XTB is a European broker which was founded in 2002, and has offices in 13 countries across the globe. XTB is regulated by the UK Financial Conduct Authority (FRN 522157) and has been listed on the Warsaw Stock Exchange since 2016.

XTBis a fintech company which combines financial services with innovative technology and it offers clients two platforms to choose from:

• xStation5
• MT4

Pros and Cons

Traders can choose from 25 crypto CFDs (9 individual coins or 16 crypto pairs) which are available 7 days a week (from 3am Saturday to 9pm Friday). Traders can buy or sell digital coins with 2:1 leverage and 365-day expiry.

Trading benefits

XTB support a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, Turkish, Arabic, and Russian.

eToro

eTorois an online broker which was founded in 2006 and offers CFDs and Social Trading, with a head office based in Cyprus, UK. eToro is supervised by the Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) regulatory bodies and has been in operation for over 14 years.

Pros and Cons

eToro offers traders two ways to trade: CFDs, Social Trading and eToro traders will need to make a minimum deposit of $200 and the platform can accommodate various levels of traders from beginner to expert. Traders can trade in a wide variety of over 100 instruments and over 50 currency pairs on eToro’s user-friendly custom trading platform which is available as a browser-based web application. eToro also offers traders mobile apps for Android and iOS, making it easier to keep an eye on and execute trades.

Trading benefits

eToro supports a wide range of languages including English, German, Spanish, French, and Italian. 24/6 customer support is available via telephone and support ticket.

City Index

City Index is a world leader in spread betting, FX and CFD Trading, regulated by the Financial Conduct Authority (FCA). The City Index trading platform offers traders a range of customisation options, which includes 16 chart types with 65+ indicators specifically designed for investors to perform technical analysis.

Pros and Cons

To open a live trading account, traders will need a minimum deposit of at least $25. City Index offers over 12,500 different instruments to trade, including over 84 currency pairs on the ever-popular MetaTrader4 trading platform.

Trading benefits

Multilingual Customer support is available by email, phone, or live chat.

Interactive Brokers

Interactive Brokerswas founded in 1978 and is regulated by multiple financial authorities including the UK’s Financial Conduct Authority (FCA) and theUSSecurities and Exchange Commission (SEC).

Interactive Brokers offers many account types, which fall intotwobig groups:

• accounts for individual traders and investors
• accounts for institutions

Pros and Cons

Trading benefits

Traders can choose between two different web trading platforms: The Client Portal and WebTrader and IBKR Mobile,Interactive Brokers’ mobile trading platform, isavailable both for iOS and Android. Users can trade on Stock, Forex, Option and Futures – to name but a few.

Customer Service is available 24/7 via Live Chat, Phone and Email.

Saxo Bank

Saxo is a globally regulated, multi-asset class broker which offers traders the option to trade on more than 40,000 instruments covering Forex, CFDs, Stocks, Options, ETFs, Commodities, Futures, Bonds and Mutual Funds from a single account across multiple platforms including their own – SaxoTraderGO and professional-grade SaxoTraderPRO.

Pros and Cons

The Saxo Group is regulated in 15 jurisdictions including authorisation from the UK Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Financial Services Agency of Japan (FSA) and many more.

Trading benefits

Customer support is available in nearly 30 different languages via phone, email and an FAQ section.

IG

IG Group was founded in 1974 and is regulated by the Financial Conduct Authority (FCA) in the U.K. and the Australian Securities and Investment Commission (ASIC) in Australia.

Pros and Cons

Thecountry of a traders residency will determinewhichaccount type they can open.In most countries, they will only be able to trade forex, CFDsand options. Traders can choose between two trading platforms, IG’s proprietary trading platform or MetaTrader 4.

Trading benefits

Customer Service is available 24/7 via Phone, Live Chat and Email.

AvaTrade

AvaTradeis an online broker which was founded in 2006 and offers Forex, CFDs, Spread Betting and Social Trading and is a global broker with their head office situated in The British Virgin Islands. AvaTradeisregulatedin Europe, the British Virgin Islands, Australia, Japan, andSouth Africa by ASIC, CySEC and FCA.

Pros and Cons

For those who are looking to start out with AvaTrade will need a minimum deposit of $250 and ademo accountis available for those who want to get acquaint with the popular MT4 forex trading platform. AvaTrade also offer mobile apps for Android and iOS.

Trading benefits

Customer support is available by email, phone, or live chat.

Tickmill

Tickmill is a Forex and CFD broker with licences from the UK Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CySEC) and the Seychelles Financial Services Authority (FSA).

Pros and Cons

Tickmill offers trading on 80+ markets covering Forex, Indices, Commodities and Bonds on the MetaTrader4 trading platform for Windows, Mac, Web, Android and iOS.

Trading benefits

Multilingual client service is available via Telephone, Email, Online Contact Form and Live Chat.

HFM

HFM was established in 2007 is well regulated by FCA, CySEC, DFSA, FSCA and SFSA.

Pros and Cons

The HFM MT5 terminal offers 21 different timeframes, superior analysis tools, trading across HFM asset classes, close to 100 simultaneous charts, hedging and one-click trading and 80+ technical indicators plus an in-built economic calendar. The account can be accessed from anywhere using an iPhone, interactive charts for 9 timeframes, advanced trading functions, one-click trading, 24 analytical objects, and 30 technical indicators.

Trading benefits

Customer support is available via phone and email.

Conclusion

Choosing the right Forex Broker and Following the Success stories of other Forex Traders will give investors a solid start in the Financial Markets.