Intro and winners
Find below the strengths of the best CFD brokers available in Malaysia, updated for 2024:
- XTB is the best CFD broker in Malaysia in 2024. - Commission-free stocks and ETFs (for trades up to €100k per month). Free and fast deposit and withdrawal. Easy and fast account opening. High interest paid on cash.
- FP Markets - Low forex fees. Easy and fast account opening and funding. Great education tools.
- Saxo - Great trading platform. Outstanding research. Broad product portfolio. Interest paid on uninvested cash.
- Admirals (Admiral Markets) - Low forex CFD fees. Free and fast deposit and withdrawal. Straightforward account opening.
- IC Markets - Low forex fees. Easy and fast account opening. Free deposit and withdrawal. Offers standard and raw spread accounts.
- Spreadex - Low forex fees. Good web platform. Helpful customer service.
- Oanda - Great trading platforms. Outstanding research tools. Fast and user-friendly account opening.
- FXTRADING.com - Low forex fees. Easy and fast account opening. Free deposit and withdrawal.
- FxPro - Superb account opening process. Great customer service. Free deposit and withdrawal.
- Forex.com - Low forex fees. Great variety of currency pairs. Diverse technical research tools.
Comparison of the top CFD brokers and trading platforms in Malaysia in 2024
While many online CFD brokers and trading platforms catering to Malaysian investors offer an excellent service, the ones in our toplist go the extra mile.
| Broker | Minimum deposit | Time to open account |
|---|---|---|
| XTB | $0 | 1 day |
| FP Markets | $50 | 1 day |
| Saxo | $0 | 1 day |
| Admirals (Admiral Markets) | $100 | 1 day |
| IC Markets | $200 | 1 day |
| Spreadex | $0 | 1-3 days |
| Oanda | $0 | 1-3 days |
| FXTRADING.com | $50 | 1 day |
| FxPro | $100 | 1 day |
| Forex.com | $100 | 1-3 days |
Popularity of the best CFD brokers in Malaysia
Interested in what others think? Here's how many people chose these brokers at BrokerChooser in the last 6 months.
Fee comparison of the best CFD brokers in Malaysia
How much you have to pay for a trade in spreads, commission and other trading costs is a key broker selection criteria. Check the spreads in the table below. In case of stock CFD, we calculate the fees for a $2,000 trade held for 1 week.
| Broker | S&P 500 CFD spread | Apple CFD fee |
|---|---|---|
| XTB | 0.5 | $9.4 |
| FP Markets | 0.5 | $7.5 |
| Saxo | 0.5 | $11.6 |
| Admirals (Admiral Markets) | 0.4 | $3.7 |
| IC Markets | 0.2 | $1.6 |
| Spreadex | 0.4 | $11.7 |
| Oanda | 0.3 | $3.3 |
| FXTRADING.com | 0.3 | - |
| FxPro | 1.0 | $5.1 |
| Forex.com | 0.4 | $23.2 |
If you are unsure how brokerage fees work, check out this article on the various fees, charges and costs.
Non-trading fees at the best CFD brokers in Malaysia
Non-trading fees are charges not directly related to a given trade and typically include the account maintenance fee, deposit/withdrawal fees, and the inactivity fee.
| Broker | Withdrawal fee | Inactivity fee |
|---|---|---|
| XTB | $0 | |
| FP Markets | $0 | |
| Saxo | $0 | |
| Admirals (Admiral Markets) | $0 | |
| IC Markets | $0 | |
| Spreadex | $0 | |
| Oanda | $0 | |
| FXTRADING.com | $0 | |
| FxPro | $0 | |
| Forex.com | $0 |
Product selection at the best CFD brokers in Malaysia
Check out what types of CFDs you can trade at the best CFD brokers and CFD trading platforms.
| Broker | Stock index CFD | Stock CFD |
|---|---|---|
| XTB | ||
| FP Markets | ||
| Saxo | ||
| Admirals (Admiral Markets) | ||
| IC Markets | ||
| Spreadex | ||
| Oanda | ||
| FXTRADING.com | ||
| FxPro | ||
| Forex.com |
CFD trading in Malaysia
Trading CFDs is legal in Malaysia, but the Securities Commission Malaysia (SC), the country’s financial markets regulator, has put in place certain restrictions. A CFD provider is only allowed to offer CFDs based on shares or indexes and the underlying shares and indexes must also meet certain regulatory criteria. As of date, forex, bond, commodities or cryptocurrency CFDs are not allowed in Malaysia.
The minimum margin requirements for single share CFDs is 10% for index shares and 20% for non‐index shares. Index CFDs have a minimum margin requirement of 5%.
According to the regulator, CFDs can only be offered by entities licensed for dealing in derivatives or specifically CFDs. Make sure the broker you choose is regulated either by Malaysia’s SC or by a top-tier regulator such as the FCA in the United Kingdom or ASIC in Australia. Foreign brokers are also allowed to offer CFDs to Malaysian investors.
Unfortunately, unregulated, unlicensed brokers are very common in Malaysia, and so are brokers that are registered only in jurisdictions that impose low-regulatory environments such as Belize, Mauritius, Labuan, Seychelles, and the British Virgin Islands. The SC regularly publishes investor alerts, featuring the names of potential scam brokers and entities. Check this page before you open an account with a broker.
If you open an account with a foreign broker, you may gain access to CFDs traded on international financial markets.
Under SC regulations, CFDs can only be offered to sophisticated investors in Malaysia. Brokers offering CFDs to Malaysian investors are required by the regulator to conduct a suitability assessment on any investor who wishes to invest in CFDs with special focus on the client’s risk profile, experience and suitability.
And now, let's see the top CFD brokers in Malaysia one by one, starting with the winner, XTB.
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76-83% of retail CFD accounts lose money
| XTB snapshot | |
|---|---|
| Minimum deposit | $0 |
| Mobile app score | 4.4 stars |
| Deposit methods | Bank transfer, Credit/debit cards, Paysafe, Skrill, ecommpay, PayU, PayPal |
| Withdrawal fee | $0 |
| Read review | For a detailed analysis of XTB services, check out our review for 2024 |
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72.5% of retail CFD accounts lose money
| FP Markets snapshot | |
|---|---|
| Minimum deposit | $50 |
| Mobile app score | 3.8 stars |
| Deposit methods | Bank transfer, Credit/debit cards, Neteller, Skrill, PayPal, Asia Banks, Sticpay, fasapay, Virtual Pay, Rupee Payments, Rapyd, Perfect Money, pagsmile, Cryptocurrency Solution, Crypto (finrax), mybux, ypay, Apple Pay, Google Pay, B2Binpay |
| Withdrawal fee | $0 |
| Read review | For a detailed analysis of FP Markets services, check out our review for 2024 |
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64% of retail CFD accounts lose money
| Saxo snapshot | |
|---|---|
| Minimum deposit | $0 |
| Mobile app score | 5.0 stars |
| Deposit methods | Bank transfer, Credit/debit cards |
| Withdrawal fee | $0 |
| Read review | For a detailed analysis of Saxo services, check out our review for 2024 |
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74% of retail CFD accounts lose money
| Admirals (Admiral Markets) snapshot | |
|---|---|
| Minimum deposit | $100 |
| Mobile app score | 4.3 stars |
| Deposit methods | Bank transfer, Credit/debit cards, Skrill, PayPal, Klarna, Neteller, SafetyPay, AstroPay, Trustly, Rapid Transfer, NganLuong, Perfect Money |
| Withdrawal fee | $0 |
| Read review | For a detailed analysis of Admirals (Admiral Markets) services, check out our review for 2024 |
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70.64% of retail CFD accounts lose money
| IC Markets snapshot | |
|---|---|
| Minimum deposit | $200 |
| Mobile app score | 3.8 stars |
| Deposit methods | Bank transfer, Credit/debit cards, PayPal, Skrill, Neteller, Visa Direct, SafeCharge, Transact365, eCommPay, CardPay, Bpay, FasaPay, Poli, RapidPay, Klarna |
| Withdrawal fee | $0 |
| Read review | For a detailed analysis of IC Markets services, check out our review for 2024 |
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64% of retail CFD accounts lose money
| Spreadex snapshot | |
|---|---|
| Minimum deposit | $0 |
| Mobile app score | 4.5 stars |
| Deposit methods | Bank transfer, Credit/debit cards |
| Withdrawal fee | $0 |
| Read review | For a detailed analysis of Spreadex services, check out our review for 2024 |
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75% of retail CFD accounts lose money
| Oanda snapshot | |
|---|---|
| Minimum deposit | $0 |
| Mobile app score | 4.9 stars |
| Deposit methods | Bank transfer, Credit/debit cards, PayPal, Skrill, Neteller |
| Withdrawal fee | $0 |
| Read review | For a detailed analysis of Oanda services, check out our review for 2024 |
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74-89% of retail CFD accounts lose money
| FXTRADING.com snapshot | |
|---|---|
| Minimum deposit | $50 |
| Mobile app score | 3.8 stars |
| Deposit methods | Bank transfer, Credit/debit cards, PayPal, Neteller, UnionPay, USDT |
| Withdrawal fee | $0 |
| Read review | For a detailed analysis of FXTRADING.com services, check out our review for 2024 |
Visit broker
74% of retail CFD accounts lose money
| FxPro snapshot | |
|---|---|
| Minimum deposit | $100 |
| Mobile app score | 4.3 stars |
| Deposit methods | Bank transfer, Credit/debit cards, PayPal, Skrill, Neteller |
| Withdrawal fee | $0 |
| Read review | For a detailed analysis of FxPro services, check out our review for 2024 |
Visit broker
69-77% of retail CFD accounts lose money
| Forex.com snapshot | |
|---|---|
| Minimum deposit | $100 |
| Mobile app score | 4.5 stars |
| Deposit methods | Bank transfer, Credit/debit cards, Skrill, Neteller, PayPal |
| Withdrawal fee | $0 |
| Read review | For a detailed analysis of Forex.com services, check out our review for 2024 |
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How did BrokerChooser select the best CFD brokers in Malaysia?
- We checked whether the broker is regulated by a trusted regulator,
- Compared fees (including spreads, withdrawal fee, commission),
- Specifically compared CFD fees,
- Looked at the range of CFDs available,
- Opened an account and tested the platform (charting, features, usability) with real money.
Save hours of research!
Our expert team has done all the work for you, and reviewed brokers based on BrokerChooser's unique methodology
BrokerChooser evaluates 9 key areas for all brokers including fees, safety, ease of account opening, education, and trading platforms. We check more than 600 criteria for each broker and finetune our methodology every year based on our own and our users' experiences. We have more than 100 brokers reviewed on our site and our team of analysts examines more than 60,000 data points overall.
FAQ
What is CFD trading?
CFDs, short for Contracts for Difference, are derivative products used to speculate on the price movements of a wide range of underlying assets. A CFD is a contract between two parties under which the seller pays the buyer the difference between the current value of an asset and its value at the time the contract is due.
When trading CFDs, you speculate on whether the price of a financial asset (i.e. stock, bond, commodity, etc.) will go up or down, without actually buying the asset itself. Instead of buying a Vodafone stock, at a CFD broker you will bet on the direction you think the Vodafone stock will go. If your bet is right, you will make profit on your CFD trade.
CFDs are leveraged products meaning that you trade with your own money and the money you borrow from your broker. This makes CFD trading extremely risky and not suitable for beginners. A very high percentage of retail traders lose money when trading CFDs.
CFD trading is illegal in the U.S. However, if you open an account at a European broker, you will be able to trade CFDs on U.S. assets.
To better understand CFDs and the risk involved, read this article on CFD trading tips compiled by our team of experts.
Is CFD trading legal in Malaysia?
CFD trading is legal in Malaysia with certain restrictions. The Securities Commission of Malaysia, the financial markets regulator, only allows CFDs based on shares and indices. As of date, forex, bond, commodities or cryptocurrency CFDs are not allowed in Malaysia.
CFDs can only be offered by entities licensed to engage in trading derivatives or specifically CFDs. The regulator has also put minimum margin requirements in place for CFD trades.
Is CFD trading halal?
CFD trading is halal if you use an Islamic account. Brokerage firms registered with the Securities Commission of Malaysia and many foreign brokers regulated by other national authorities provide users with an Islamic account. These accounts are considered halal as they do not gain interest from you holding positions overnight.
Is CFD good for beginners in Malaysia?
CFD trading is a high-risk investment and as such not recommended for beginners in Malaysia. CFDs are complex products and come with a high risk of losing money due to leverage. Trading on leverage means that you trade with money borrowed from your broker in addition to your own funds. Your profits may be bigger when you trade on leverage, but so will your losses. Data shows that close to three quarters of retail investors lose money when trading CFDs.
Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.
