This article highlights the top 10 best low-spread forex brokers in Malaysia, and we’ve done the research to ensure that these brokers offer all the features that traders are looking for. We understand that both retail and professional institutional traders are seeking brokers that provide excellent trading conditions, and that’s why we’ve prioritized brokers that offer low spreads, exceptional customer service, educational resources, and user-friendly platforms.

Don’t waste your time searching for a broker that meets all your needs. Instead, check out our comprehensive list of the best low-spread forex brokers in Malaysia and select the one that suits your trading style and goals. With our help, you can find a reliable, trustworthy broker that delivers the best possible trading experience.

What is Low or Zero-Spread Account?

A zero spread account is a type of trading account where the spread, which is the difference between the bid and ask price, is set at zero or close to zero. This means that traders can buy and sell assets at the same price, which can be beneficial for high-frequency trading or scalping strategies.

However, keep in mind that zero-spread accounts may come with higher commission fees or other trading costs.

Top Low Spread Forex Broker Malaysia 2023

Trading is a complex and diverse environment, and it’s crucial to understand what type of account to use when trading. While many online brokers advertise their services in terms of tradable assets such as CFDs, stocks, and more, traders looking to gain an edge in the market and execute trades quickly seek out low-spread forex brokers. These brokers offer benefits such as tight spreads and competitive pricing. There are several factors to consider when selecting the right broker, including regulations, customer service, educational materials, deposit and withdrawal methods, and reputation.

This review comprehensively analyzes the best low-spread forex brokers in Malaysia. We have thoroughly examined the features, benefits, and services each broker offers, allowing you to decide which broker is best suited for your trading needs. The brokers have been ranked from best to “not so great,” so you can quickly determine which one is right for you. By providing all of this information in one place, we aim to make it easier for you to choose a broker that suits your needs and helps you achieve your trading goals.

Here is our top pick of the top 10 low-spread forex brokers in Malaysia;

• ZFX
• XM
• IG
• Exness
• FBS
• Capital.com
• FP Markets
• RoboForex
• Axi.com
• CMC Markets

Low Spread Forex Broker Comparison

Best Low Spread Forex Broker in Malaysia (Reviewed)

1. ZFX

ZFX is a regulated broker under the International Financial Services Commission (IFSC) in Belize and was founded in 2016. This regulatory body ensures that the broker operates in a transparent and fair manner. With a regulated broker like ZFX, clients can rest assured that their funds are safe and secure.

ZFX offers three different account types: Premier, Pro, and Islamic. For residents in Malaysia, there are also the Cent, STP, and ECN accounts. The Premiere account is the most basic account type, with spreads starting from as low as 1.2 pips. The Pro account is for advanced traders who want lower spreads, starting from as low as 0.0 pips. For traders who require Sharia-compliant trading, the Islamic account is also available.

ZFX is known for its low spreads, making it an attractive option for traders who are looking to save on trading costs. The broker offers low-spread currency pairs and gold, making it the lowest-spread forex broker for gold in Malaysia. Additionally, ZFX is also among the list of low-spread brokers, making it a great choice for traders who are looking for the tightest spreads in the market for forex, stocks, commodities, and indices.

This broker offers its clients the popular MetaTrader 4 (MT4) trading platform, which is known for its reliability and user-friendliness. With MT4, traders can easily access a range of trading tools and features to help them execute their trades. The low-spread forex trading platform is an added advantage for traders, as they can enjoy the tightest spreads while using the platform.

The broker provides access to over 50 currency pairs, including major and minor pairs. Then they have a wide range of trading instruments, including forex, indices, commodities, and metals. Traders can also invest in gold, which has the lowest spread among all the commodities offered.

ZFX has an excellent customer support team that is available 24/7 to assist clients with their queries and concerns. Traders can reach the customer support team via email, phone, or live chat. The broker also provides educational resources and market analysis to help traders make informed trading decisions tah include their A-Z Academy, not to mention..

In terms of deposit and withdrawal methods, ZFX has bank transfers, credit/debit cards, and e-wallets such as Neteller and Skrill. The minimum deposit required to open an account with ZFX is $50, making it a low-deposit broker. The broker also offers zero commission on deposits and withdrawals.

ZFX offers special promotions to its clients, including a competitions and a refer-a-friend program. The broker also has a loyalty program where clients can earn rewards for their trading activities. Not to mention their newly implemented Interest program where clients can earn interest on their funded accounts.

Overall, and compared to the other brokers on this list ZFX not only has the tightest and lowest spreads but also offer many more additional features that work seamlessly together. As such we rate ZFX as the best low-spread forex broker in Malaysia.

Pros

• Low spreads, making it a great option for traders who want to keep their trading costs down.
• Offers a wide range of account types, including ECN, STP, and Crypto accounts.
• Provides a user-friendly trading platform with advanced charting tools and trading indicators.
• Supports multiple payment methods, including bank transfer, credit/debit cards, and e-wallets like Skrill and Neteller.
• Offers a variety of educational resources and trading tools, including a free demo account and market analysis.
• Has a responsive and professional customer support team available 24/5.
• Regulated by the FCA and CySEC, providing traders with a sense of security

Cons

• Limited product range, focusing primarily on forex and CFDs.
• Limited availability in certain regions, including the United States and Canada.
• Withdrawal fees may be charged depending on the payment method used.
• No dedicated mobile app for trading on-the-go.
• Limited educational resources compared to some other brokers.
• Higher minimum deposit for some account types.
• No Islamic accounts offered

2. XM

XM is a Forex broker that offers low-spread accounts for traders in Malaysia. The broker has been in the industry since 2009, providing its clients with a reliable trading environment and a variety of account types to choose from.

One of the main advantages of XM is their low spread currency pairs. The broker offers tight spreads starting from 0.0 pips, making it an attractive option for traders looking for a low-spread forex broker in Malaysia. Traders interested in scalping will also find XM suitable, as the broker allows scalping and hedging strategies.

XM offers three different account types: Micro, Standard, and XM Zero. Each account type has its own set of features and benefits, including different spreads. For example, the Micro account offers spreads starting from 1 pip, the Standard account offers spreads starting from 0.6 pips, and the XM Zero account offers spreads starting from 0.0 pips. However, it’s worth noting that XM’s spread is not as tight as ZFX, another broker that offers low spreads.

In terms of regulations, XM is a regulated broker with licenses from multiple regulatory bodies, including the Cyprus Securities and Exchange Commission (CySEC), the Financial Conduct Authority (FCA), and the Australian Securities and Investments Commission (ASIC). This ensures that the broker adheres to strict rules and regulations, providing its clients with a secure and trustworthy trading environment.

XM offers its clients a range of trading platforms, including the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, as well as its own proprietary platform, XM WebTrader. Traders can access the platforms through their desktop, mobile, or tablet devices, providing flexibility in their trading.

The broker offers a wide range of assets for traders to choose from, including Forex currency pairs, commodities, stocks, and indices. This allows traders to diversify their investment portfolios and trade in different markets.

XM’s customer support is available 24/5, and clients can reach the support team through live chat, email, or phone. The broker also offers its clients a range of educational resources, including webinars, video tutorials, and market analysis.

XM offers various deposit and withdrawal methods, including credit/debit cards, bank wire transfers, and e-wallets as with other brokers on this list. Traders can make deposits as low as $5, making it a suitable option for traders who are looking for forex brokers with low spreads and low deposits.

In terms of special offers, XM provides various promotions and bonuses to its clients, including a $30 no-deposit bonus and a 50% deposit bonus. However, before withdrawing the bonus, traders should be aware that bonuses come with terms and conditions, such as a certain trading volume requirement.

Overall, XM is a regulated and reliable forex broker that offers low-spread accounts for traders in Malaysia. The broker offers a range of account types, trading platforms, assets, and customer support, providing traders with flexibility and convenience. However, traders who are looking for the tightest spreads may want to consider other low-spread forex brokers.

Pros

• Offers low spreads and no re-quotes on forex and CFDs.
• Provides a range of account types, including Micro, Standard, and XM Zero accounts.
• Offers a user-friendly trading platform with advanced charting tools and analysis.
• Provides a mobile trading app for iOS and Android devices.
• Offers a variety of educational resources, including webinars, seminars, and market analysis.
• Provides a free demo account to help traders practice and learn before trading with real money.
• Regulated by multiple authorities, including the FCA and CySEC, providing traders with a sense of security and trust.

Cons

• Limited product range compared to some other brokers.
• High withdrawal fees for some payment methods.
• Limited trading instruments for some account types.
• No Islamic accounts offered
• Higher minimum deposit

3. IG

IG is a Forex broker that has been in the industry for over 45 years, providing its clients with a reliable trading environment and a wide range of assets to trade. The broker has a strong reputation in the industry and is regulated by multiple regulatory bodies, including the Financial Conduct Authority (FCA) in the UK and the Australian Securities and Investments Commission (ASIC).

One of the main advantages of IG is its tight spreads. The broker offers competitive spreads starting from as low as 0.6 pips for major currency pairs, making it a suitable option for traders who are looking for a low-spread forex broker. IG also offers zero-spread accounts for certain currency pairs, which can be beneficial for traders who want to avoid paying spreads.

IG offers two different account types: the Standard account and the DMA account. The Standard account has fixed spreads and is suitable for traders who are looking for simplicity, while the DMA account has variable spreads and is suitable for traders who want greater control over their trades.

IG’s trading platform is the proprietary IG platform, which is available as a desktop, mobile, and web-based application. The platform is user-friendly and intuitive, making it easy for traders to navigate and place trades. The broker also offers the popular MetaTrader 4 (MT4) platform for traders who prefer using a third-party platform.

IG’s trading platform is the proprietary IG platform, which is available as a desktop, mobile, and web-based application. The platform is user-friendly and intuitive, making it easy for traders to navigate and place trades. The broker also offers the popular MetaTrader 4 (MT4) platform for traders who prefer using a third-party platform.

IG’s trading platform is the proprietary IG platform, which is available as a desktop, mobile, and web-based application. The platform is user-friendly and intuitive, making it easy for traders to navigate and place trades. The broker also offers the popular MetaTrader 4 (MT4) platform for traders who prefer using a third-party platform.

IG provides various deposit and withdrawal methods, including credit/debit cards, bank wire transfers, and e-wallets. The broker also offers competitive trading conditions, such as low minimum deposit requirements and no commission fees.

In terms of special offers, IG offers various promotions and bonuses to its clients, such as cashback offers and referral bonuses. However, before withdrawing the bonus, traders should be aware that bonuses come with terms and conditions, such as a certain trading volume requirement.

All in all, IG is a reputable and reliable forex broker that offers competitive spreads, a wide range of assets, and a user-friendly trading platform. The broker provides a range of account types, customer support, and educational resources, making it a suitable option for traders of all levels. However, traders who are looking for zero-spread accounts may want to consider other zero-spread forex brokers.

Pros

• Competitive pricing on trading fees
• Wide range of tradable assets, including stocks, forex, and cryptocurrencies
• Robust trading platform with advanced charting tools
• Extensive educational resources and research tools
• Accessible customer support available 24/7
• Regulated by top-tier financial authorities
• User-friendly mobile app for trading on the go

Cons

• High minimum deposit is required to open an account
• Limited customization options for the trading platform
• Inactivity fees charged on dormant accounts
• No social trading or copy trading features
• Limited payment options compared to other brokers
• Limited availability of trading tools for beginner traders
• Limited options for trading in certain regions

4. Exness

Exness is an established forex broker that has been offering trading services to clients for over a decade. The broker is licensed and regulated by multiple regulatory bodies, including the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC), ensuring that it is a reliable and trustworthy option for traders.

Exness is particularly known for its competitive trading conditions and tight spreads. The broker offers tight spreads starting from 0.0 pips for major currency pairs, making it a great option for traders who are looking for a low-spread forex broker. Additionally, Exness provides zero-spread accounts for some currency pairs, which can be beneficial for traders who prefer to avoid paying spreads altogether.

The broker offers a range of account types to cater to different trading styles and needs. The Standard account has fixed spreads, while the Pro account has floating spreads. The Raw Spread account provides raw spreads plus commission, and the Zero account has zero spreads plus commission. The range of account types ensures that traders can choose the one that best suits their trading needs.

Exness provides traders with a proprietary trading platform called the Exness Trader terminal, which is available as a desktop, mobile, and web-based application. The platform is user-friendly and intuitive, making it simple for traders to navigate and place trades. Additionally, the broker also offers the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms for traders who prefer third-party platforms.

Exness offers a broad range of trading instruments, including Forex currency pairs, metals, energies, cryptocurrencies, and indices. This allows traders to diversify their investment portfolios and trade in different markets.

The broker offers 24/7 customer support, and clients can reach the support team via live chat, email, or phone. Moreover, Exness provides its clients a range of educational resources, such as webinars, video tutorials, and market analysis.

Exness offers various deposit and withdrawal methods, including credit/debit cards, bank wire transfers, and e-wallets. The broker also offers competitive trading conditions, such as low minimum deposit requirements and no commission fees for some account types.

In terms of special offers, Exness provides several promotions and bonuses to its clients, such as cashback offers and deposit bonuses. Nevertheless, traders should keep in mind that bonuses come with terms and conditions, such as a particular trading volume requirement, before clients can withdraw the bonus.

To sum up, Exness is a reputable and reliable forex broker that offers competitive trading conditions, a range of account types, and a user-friendly trading platform. The broker provides vast assets, customer support, and educational resources, making it a suitable option for traders of all levels. Exness is an excellent low-spread forex broker in Malaysia, and it also offers low-spread forex brokers scalping options. While traders looking for zero-spread accounts may prefer other zero-spread forex brokers, Exness is an excellent choice for those seeking a low-spread forex broker with various account types and trading instruments.

Pros

• Low trading fees and tight spreads
• Wide range of tradable assets, including forex, metals, and cryptocurrencies
• User-friendly trading platform with advanced charting tools
• Multiple account types to choose from depending on trading style and experience level
• No deposit or withdrawal fees are charged by the broker
• Regulated by top-tier financial authorities
• 24/7 customer support available in multiple languages

Cons

• Limited tradable assets compared to other brokers
• No social trading or copy trading features
• Limited educational resources for beginner traders
• Limited payment options compared to other brokers
• Inactivity fees charged on dormant accounts
• Limited availability of trading tools for beginner traders
• Limited options for trading in certain regions

5. FBS

FBS is a well-known online forex and CFD broker that was founded in 2009. The broker offers its services to clients from various parts of the world, including Malaysia. In this review, we’ll take a closer look at FBS and see how it compares to other brokers in terms of account types, trading platforms, customer support, and more.

One of the key features of FBS is its low spreads, which make it a popular choice for traders looking for a cost-effective trading solution. The broker offers different account types with varying spreads to cater to the needs of different traders. For example, the Standard Account offers a spread of 1 pip, while the Cent Account has a spread of 3 pips. Meanwhile, the Zero Spread Account offers spreads starting from 0 pips, making it an ideal choice for traders who are particularly sensitive to spreads.

In addition to its low spreads, FBS also offers a range of trading platforms, including the popular MetaTrader 4 and MetaTrader 5 platforms. These platforms are widely used in the forex and CFD trading industry and offer a range of features, such as advanced charting tools, customizable trading indicators, and automated trading options.

FBS also provides traders access to various financial instruments, including currency pairs, commodities, indices, and cryptocurrencies. This enables traders to diversify their portfolios and take advantage of different market conditions.

When it comes to customer support, FBS offers a range of options, including live chat, email, and phone support. The broker’s support team is available 24/7 to assist clients with any questions or issues they may have.

FBS is regulated by the International Financial Services Commission (IFSC) in Belize, which ensures that the broker complies with strict financial and ethical standards. This provides clients with the peace of mind that their funds are safe and secure.

In terms of deposit and withdrawal methods, FBS offers a range of options, including bank wire transfers, credit/debit cards, and e-wallets such as Skrill, Neteller, and Perfect Money. The broker also offers fast and hassle-free withdrawals, which are processed within 24 hours.

Overall, FBS is a reputable broker that offers low spreads, a range of trading platforms and financial instruments, excellent customer support, and fast and secure payment options. While it may not be the best option for traders looking for zero spreads or particularly low deposit requirements, it is still a solid choice for traders looking for a reliable and cost-effective trading solution.

Pros

• Low minimum deposit requirement to open an account
• Wide range of tradable assets, including forex, stocks, and cryptocurrencies
• User-friendly trading platform with advanced charting tools
• Multiple account types to choose from depending on trading style and experience level
• Accessible customer support available 24/7
• Regulated by top-tier financial authorities
• Educational resources available for beginner traders

Cons

• Limited social trading and copy trading features
• Higher trading fees compared to other brokers
• Inactivity fees charged on dormant accounts
• Limited payment options compared to other brokers
• Limited availability of trading tools for beginner traders
• Limited options for trading in certain regions
• Limited research tools for advanced traders

6. Capital.com

Capital is a well-established online broker that offers access to a wide range of financial markets, including forex, stocks, and commodities. The broker is regulated by the Cyprus Securities and Exchange Commission (CySEC), which ensures high security and protection for traders.

One of the standout features of Capital is the low spreads offered on their accounts. Traders can choose from three different account types, each with its own unique features and benefits. The most famous account type is the Standard account, which offers competitive spreads on a wide range of markets.

For those looking for even tighter spreads, the Pro account offers spreads as low as 0.6 pips on major forex pairs, making it a great choice for scalpers and other high-volume traders. Additionally, the broker offers a Zero account type, which provides zero spreads on major currency pairs but includes a small commission per trade.

Capital’s trading platform is powered by MetaTrader 4, a popular and well-respected platform in the industry. Traders can also access the platform via a web-based interface or mobile app, allowing for convenient trading on the go.

In terms of customer support, Capital offers 24/5 support via live chat, email, and phone. The broker also provides a range of educational resources and trading tools, including an economic calendar, market news, and analysis.

When it comes to funding your account, Capital offers a range of deposit and withdrawal methods, including bank wire transfer, credit card, and e-wallets such as Neteller and Skrill. The broker also offers fast and reliable withdrawal processing, with most requests processed within 24 hours.

Capital is a reliable and well-regulated broker offering competitive spreads, a range of trading accounts, and excellent customer support. While it may not offer the tightest spreads or the lowest minimum deposit requirements in the market, it is a solid choice for traders looking for a trustworthy broker with a good reputation.

Pros

• Wide range of tradable assets, including forex, stocks, and commodities
• Competitive trading fees and tight spreads
• User-friendly trading platform with advanced charting tools
• Multiple account types to choose from depending on trading style and experience level
• Accessible customer support available 24/7
• Regulated by top-tier financial authorities
• Educational resources available for beginner traders

Cons

• Limited social trading and copy trading features
• Inactivity fees charged on dormant accounts
• Limited payment options compared to other brokers
• Limited availability of trading tools for beginner traders
• Limited options for trading in certain regions
• Limited research tools for advanced traders
• Higher minimum deposit requirement for some account types

7. FP Markets

FP Markets is a global online broker that offers access to a wide range of financial markets, including forex, stocks, commodities, and cryptocurrencies. The broker is regulated by the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC), which ensures a high level of security and protection for traders.

Traders can choose from two different account types, each with its own unique features and benefits. The Standard account offers competitive spreads on a wide range of markets, while the Raw account offers institutional-grade spreads with no markups.

In addition to low spreads, FP Markets offers a range of trading platforms, including the popular MetaTrader 4 and 5 platforms and their own proprietary platform, IRESS. The broker also offers a mobile app, allowing for convenient trading on the go.

When it comes to customer support, FP Markets offers 24/5 support via live chat, email, and phone. The broker also provides a range of educational resources and trading tools, including an economic calendar, market news, and analysis.

In terms of funding your account, FP Markets offers a range of deposit and withdrawal methods, including bank wire transfer, credit card, and e-wallets such as Neteller and Skrill. The broker also offers fast and reliable withdrawal processing, with most requests processed within 24 hours.

Overall, FP Markets is a reliable and well-regulated broker offering competitive spreads, trading accounts, and excellent customer support. While it may not offer the lowest minimum deposit requirements in the market, it is a solid choice for traders looking for a trustworthy broker with a good reputation.

Pros

• Wide range of tradable assets, including forex, stocks, and cryptocurrencies
• Low trading fees and tight spreads
• Robust trading platform with advanced charting tools
• Multiple account types to choose from depending on trading style and experience level
• Accessible customer support available 24/7
• Regulated by top-tier financial authorities
• Educational resources available for beginner traders

Cons

• Limited social trading and copy trading features
• Inactivity fees charged on dormant accounts
• Limited payment options compared to other brokers
• Limited availability of trading tools for beginner traders
• Limited options for trading in certain regions
• Limited research tools for advanced traders
• Higher minimum deposit requirement for some account types

8. RoboForex

RoboForex is a leading forex broker that has been providing traders with reliable trading services since 2009. The company is regulated by the International Financial Services Commission (IFSC) and has established itself as a reputable broker in the industry.

One of the key advantages of RoboForex is the range of account types available. Clients can choose from six different account types with different features and benefits. The Pro account, for example, offers tight spreads from 0 pips, while the ECN account provides traders with access to interbank liquidity and market depth.

RoboForex also provides traders with access to a range of trading platforms, including MetaTrader 4, MetaTrader 5, and cTrader. The platforms are available for desktop and mobile devices, allowing traders to trade on the go and never miss a trading opportunity.

One of the standout features of RoboForex is its low spreads, especially on major currency pairs. The broker’s spreads start from as low as 0 pips, which can significantly reduce trading costs for traders. The broker also offers low commissions and tight slippage, ensuring that traders get the best possible prices for their trades.

RoboForex has a dedicated customer support team available 24/7 to assist traders with any queries or concerns they may have. Support is available via live chat, phone, and email, and the team is responsive and helpful.

In terms of regulations, RoboForex is fully compliant with international financial regulations, providing traders with a safe and secure trading environment. The broker also offers a range of deposit and withdrawal options, making it easy for traders to fund and withdraw their accounts.

Thus, RoboForex is a reliable and trustworthy broker with a range of account types, low spreads, and multiple trading platforms. Its commitment to providing excellent customer service and adherence to international regulations make it a top choice for traders.

Pros

• Various account types, including ECN and Prime, accounts with low spreads
• Wide range of trading instruments, including forex, stocks, and cryptocurrencies
• Multiple trading platforms including MT4, MT5, and cTrader
• Negative balance protection ensures traders don’t lose more than their account balance
• Educational resources and market analysis are available
• Competitive trading fees and no hidden charges
• 24/7 customer support is available

Cons

• Limited options for deposit and withdrawal methods
• Inactivity fee charged after 90 days of no trading activity
• Some traders have reported slippage during high-volatility periods

9. AXI

AXI is a popular online trading broker, serving customers globally with its range of trading options. One of the standout features of AXI is its commitment to low spreads, which can provide traders with an advantage in the market.

When it comes to account types, AXI offers three options: Standard, Pro, and ECN. The Standard account requires no minimum deposit and has a minimum spread of 1.2 pips, making it a suitable option for beginner traders. The Pro account requires a minimum deposit of $10,000 and has a minimum spread of 0.1 pips, making it an option for experienced traders. The ECN account is suitable for professional traders, with a minimum deposit of $50,000 and a minimum spread of 0 pips.

One of the key advantages of AXI is the variety of trading platforms available to clients. They offer the popular MetaTrader 4 and 5 platforms and their own proprietary platform, AXI Trader. These platforms are available on desktop, mobile, and tablet devices, providing traders with flexibility and convenience.

In terms of assets, AXI offers trading in various markets, including forex, stocks, indices, and commodities. They offer over 80 currency pairs with low spreads, including major, minor, and exotic pairs, catering to the needs of different types of traders.

AXI also offers excellent customer support, with a dedicated team available 24/5 to assist clients with any issues they may encounter. They provide support via live chat, email, and phone and also offer educational resources such as webinars, trading guides, and videos to help traders improve their skills.

AXI supports a range of deposit and withdrawal methods, including bank wire transfers, credit/debit cards, and e-wallets such as Skrill and Neteller. They also offer competitive fees and no commission charges on forex trades, making it an attractive option for traders looking for a low-cost broker.

Overall, AXI is a reputable broker with a strong focus on providing low spreads and a range of trading options. While their account types may not be as diverse as some other brokers, the range of platforms and trading instruments, combined with excellent customer support and low fees, make them a solid choice for traders.

Pros

• Wide range of trading instruments, including forex, indices, commodities, and cryptocurrencies
• Multiple account types to suit different trading styles and preferences
• Negative balance protection ensures traders don’t lose more than their account balance
• Competitive spreads and low trading fees
• Various trading platforms including MT4, MT5, and cTrader
• Educational resources and market analysis are available
• 24/7 customer support is available

Cons

• Limited options for deposit and withdrawal methods
• Inactivity fee charged after 6 months of no trading activity
• Limited research tools compared to some other brokers

10. CMC Markets

CMC Markets is a globally recognized online broker that offers a variety of trading instruments and tools for traders of all levels. The company has been in operation since 1989 and has established a reputation as a trusted and reliable broker.

One of the standout features of CMC Markets is their low spreads, which make them a popular choice for traders looking for cost-effective trading options. They offer competitive pricing on a wide range of instruments, including forex, indices, commodities, and cryptocurrencies. They also offer variable spreads that can go as low as 0.3 pips on some of their major currency pairs, making them a top pick for traders who prioritize low-spread forex trading.

CMC Markets also provides traders access to various trading platforms, including their proprietary Next Generation platform, which is available on desktop, mobile, and tablet devices. The platform is intuitive and user-friendly, with a range of advanced charting tools and technical indicators that make it easy to analyze the markets and identify trading opportunities.

In addition to its trading platform, CMC Markets offers a range of educational resources and market analysis tools to help traders improve their skills and make informed trading decisions. They provide regular market insights, news updates, and analysis from their team of experts, as well as educational resources such as webinars, video tutorials, and trading guides.

One area where CMC Markets falls short is its deposit and withdrawal methods, as they only offer a limited range of payment options. However, they do offer competitive pricing and no hidden fees or charges, which is a plus for traders who are conscious of transaction costs.

Overall, CMC Markets is a solid choice for traders who are looking for a reliable and cost-effective online broker with low spreads and access to a wide range of trading instruments and tools. Their competitive pricing, intuitive trading platform, and comprehensive educational resources make them a top pick for traders of all levels.

Pros

• Wide range of trading instruments, including forex, indices, commodities, and cryptocurrencies
• Multiple account types to suit different trading styles and preferences
• Competitive spreads and low trading fees
• Various trading platforms, including MT4, Next Generation, and mobile app
• Educational resources and market analysis are available
• Negative balance protection ensures traders don’t lose more than their account balance
• 24/7 customer support is available

Cons

• Limited research tools available for traders compared to some competitors
• Inactivity fee charged on accounts that have been inactive for over 12 months
• No guaranteed stop-loss orders available on some markets
• Limited cryptocurrency trading options compared to some other brokers
• Withdrawal fees charged on some methods, such as bank transfers
• Minimum deposit requirements may be higher than some traders prefer
• Mobile app can be slow to load and prone to freezing or crashing at times

How To Start Low-Spread Forex Trading in Malaysia?

This section will guide you through how to open a low-spread forex trading account with a broker. In this case, we recommend ZFX as a top broker for low-spread forex trading, and you can visit this link to sign up with them.

Remember that opening a low-spread forex trading account should be similar to opening a standard account. The difference will come when you need to choose your account type during registration.

For brokers with a quick registration process that doesn’t offer the option to select a low-spread forex trading account, you should be able to find the option in the client dashboard. If not, you can always reach out to their support team for assistance.

1. Open an Account

To register with an online broker for low-spread forex trading, you will need to visit their main website. The registration button is usually located in a prominent place, such as the main menu, but the layout may vary depending on your region and broker.

When registering with ZFX for low-spread forex trading, simply click on the “open account” button in the top header of their website, and fill in your personal details, country, phone number, and password. You can choose to open a live or demo account, and then proceed to choose your account type, which should be a low-spread forex trading account.

After filling in your personal details, ZFX will send an OTP to the phone number you provided, which you will need to input to proceed with the registration process. Once this is done, you will be taken to the account type selection page, where you can choose your low-spread forex trading account type.

It’s important to note that, depending on your region, the account type options may vary. For example, in regions outside Malaysia, the Pro account may be the equivalent of the ECN account for low-spread forex trading, while in Malaysia, residents may have the option of opening an ECN, Cent, or STP account.

After selecting your account type, you will be provided with information about your account, including your account password, which will be used to log in to the MyZFX client dashboard. Additionally, you will be prompted to download MT4 if you haven’t already done so.

2. Make your First Deposit

To begin low-spread forex trading with a live account, you will need to fund your account with a minimum of 1,000 USD. Once you have logged in to the client dashboard, you can navigate to the “make a deposit” section to choose from a range of deposit methods available.

It’s important to note that different deposit methods may require a minimum deposit amount, so ensure you fill in all necessary information and deposit the required amount for your low-spread forex trading account. After confirming your deposit, you can proceed to the payment gateway to complete your transaction.

3. Verify your account

To apply for the Interest Program and withdraw funds from your low-spread forex trading account, you must complete the identity verification process with ZFX. Completing the Know Your Customer (KYC) requirements before making any deposits is important.

To verify your identity, you will need to provide several documents, including your ID, bank statements, and proof of residency. Refer to the image below for a better understanding of the required documents.

4. Start Trading

To begin trading, you should open MT4, which you must have already downloaded and installed. Once you have launched MT4, you will be provided with server information and will need to select the appropriate one. Keep in mind that this information would have been given to you during the signup process.

After selecting the correct server, you will choose your account type, whether “live” or “demo,” and fill in the required details. For the purpose of this tutorial, you should choose “live” since you have opened an ECN (low-spread) account. MT4 will then connect to ZFX servers, providing access to your funds and the markets.

Advantages and Disadvantages of Low-Spread Forex Trading in Malaysia?

Advantages

• Lower transaction costs: Low-spread forex trading means that traders pay less in transaction costs, which can add up over time.
• Greater potential for profit: A lower spread means that traders have a greater potential for profit, as they can enter and exit trades at more favorable prices.
• More accurate price quotes: A low spread means that price quotes are more accurate, as there is less variation between the bid and ask prices.
• Better execution of trades: Low spreads mean that trades can be executed more quickly and efficiently, reducing the risk of slippage.
• Higher liquidity: Low spreads are often associated with higher liquidity, which means that traders can buy and sell currencies more easily.
• More trading opportunities: Lower spreads mean that there are more trading opportunities available, as traders can profit from smaller price movements.
• Lower risk: A low spread reduces the risk of a trade moving against the trader before they can exit the position.
• Improved risk management: Low spreads allow traders to implement more effective risk management strategies, such as stop-loss orders.
• Greater flexibility: Lower spreads allow traders to enter and exit trades more easily, which can increase their flexibility in the market.
• Competitive advantage: Traders who can access low spreads have a competitive advantage over those who cannot, as they can potentially earn greater profits on their trades.

Disadvantages

• Higher account requirements: Brokers that offer low spreads may require traders to maintain a higher account balance in order to access these lower spreads.
• Limited availability: Low spreads may not be available for all currency pairs or at all times, which can limit trading opportunities.
• Higher risk of fraud: Some brokers that offer low spreads may engage in fraudulent practices, such as manipulating prices or failing to execute trades properly.
• Higher volatility: Low spreads can increase market volatility, which can lead to greater risk for traders.
• Lower profitability: In some cases, low spreads may not translate into higher profitability, particularly if trading volumes are low.
• Limited trading strategies: Low spreads may limit the effectiveness of certain trading strategies, such as scalping or news trading.
• More difficult to analyze: Low spreads can make it more difficult for traders to analyze market trends and make informed trading decisions.
• Higher trading frequency: Traders may be more likely to engage in high-frequency trading when low spreads are available, which can increase risk.
• Less transparency: Some brokers that offer low spreads may not provide transparent pricing information, making it difficult for traders to assess the true cost of trading.
• More intense competition: With more traders taking advantage of low spreads, competition can become more intense, making it more difficult to profit from trading.

Bottom Line

After thoroughly analyzing several low-spread forex brokers in Malaysia, we have concluded that ZFX stands out as the best option for traders. Compared to other brokers such as XM, IG, Exness, and FBS, ZFX offers unique advantages that make it the go-to choice for traders looking for a reliable and trustworthy forex broker.

First and foremost, ZFX offers some of the lowest spreads in the market. This means that traders can save a significant amount of money on trading fees, allowing them to increase their profitability.

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