Although the MT5 trading platform is gradually replacing the MT4, it is still the most common trading platform in the world, and most good Forex brokers in Malaysia will provide it.

In this article, we compare the best MT4 brokers in Malaysia. We cover all aspects of each broker, from their regulatory status to the trading accounts they offer, the assets they support, and the factors that set these brokers apart from the competition.

We delve into the various services and features that a broker should provide to cater to the needs of individuals new to trading and add value for professional traders. Let’s explore who the top MT4 brokers in Malaysia are and how they can enhance your trading experience on the popular MetaTrader 4 platform.

Top MetaTrader Broker Malaysia 2023

Selecting the best MT4 broker in Malaysia should not be overwhelming if you know what features and services to look for, with a primary focus on their MT4 platform. If you’re new to Trading and unsure of what aspects to prioritize, we’re here to assist you.

One of the main factors to consider when choosing an MT4 broker is the quality and performance of their MT4 platform. A top-tier MT4 broker should offer a stable, user-friendly platform with a wide range of features and tools to help you trade effectively.

In addition to the platform itself, it’s crucial to ensure that the broker is regulated and reliable. Next, consider whether the broker is beginner-friendly and provides valuable trading resources, such as educational materials and up-to-date market news and analysis, to support your growth as a new trader.

Once you’re satisfied with these aspects, examine the assets (financial instruments) offered and the available account types, keeping in mind your risk tolerance. Some brokers may provide demo and cent accounts for practice, while others could offer tight spreads but require a substantial minimum deposit.

By focusing on these essential factors, particularly the MetaTrader4 platform, you’ll be well on your way to finding a broker that aligns with your needs and trading goals. Rest assured, we’ve done the research for you and compiled a list of the top licensed MT4 brokers in Malaysia, ready to support your trading journey.

Here are the best MT4 brokers in Malaysia for your reference;

• ZFX
• XM
• IG
• Exness
• InstaForex
• FBS
• Capital.com
• FP Markets
• RoboForex
• AXI

MetaTrader (MT4) Broker Comparison Malaysia

Best MT4 Trading Platform in Malaysia (Reviewed)

1. ZFX

Zeal Capital Market (ZFX) has earned a solid reputation as Malaysia’s best MT4 broker for beginners, with an expert score of 7.9/10. Established in 2016 by experienced traders, ZFX aims to make investing more accessible for retail and institutional investors. The broker is regulated by the FSA and FCA, ensuring high safety for its clients. This overview will delve into what makes ZFX stand out among other MetaTrader 4 brokers in Malaysia.

ZFX uses MetaTrader 4 (MT4) as its primary trading platform, which has remained the industry standard since its introduction in 2005. MT4 provides users with a comprehensive set of trading tools, including advanced trading robots, trade execution features, and access to the MQL community. These features, combined with a wide range of technical indicators such as moving averages and RSI, make ZFX’s MT4 platform an excellent choice for both beginners and experienced traders.

ZFX offers various account types to suit different trading preferences and experience levels:

• Cent Trading Account: Ideal for beginners, with low deposit requirements starting from $50 and leverage up to 1:2000.
• Standard STP Trading Account: A Straight-Through-Processing Account offering leverage up to 1:500 and a single maximum order of 30 standard lots
• ECN Trading Account: With the lowest spreads offered by ZFX, this account is best for short-term traders, providing more flexibility and an extended trading period.

Each account type supports Forex, indices, commodities, bullion, and share trading, with demo accounts available for users to familiarize themselves with the platform.

ZFX’s A-Z Academy and Help Center provide comprehensive educational resources for traders, including an extensive research and education section with a rating of 9.5/10. The platform offers market news, market outlook, and an economic calendar, ensuring traders stay informed about global financial events.

ZFX’s customer support is highly regarded, earning an 8.5/10 rating. With offices in various international locations, including Ho Chi Minh City, Jakarta, Abu Dhabi, Taipei, and Bangkok, the broker provides prompt and efficient support to its clients.

ZFX offers several special offers for its clients, including copy trading support and MAM account services. The MAM service enables investors to pool their resources and have a money manager trade on their behalf, making it suitable for family offices, hedge funds, and money managers.

ZFX ensures a hassle-free deposit and withdrawal process, with multiple payment methods available, including Neteller, Skrill, Perfect Money, International Bank Transfer, Local Bank Transfer, and Credit/Debit Card (Visa/Mastercard). The detailed FAQs on Account Funding and Withdrawal simplify the process for users.

As an NDD, STP, and ECN broker regulated by the FSA and FCA, ZFX maintains a high level of safety and trust for its clients, scoring a 9/10 rating in this category.

In conclusion, ZFX stands out among other MetaTrader 4 brokers in Malaysia, offering a comprehensive trading platform, diverse account types, and exceptional educational resources. The platform’s safety, customer support, and special offers further solidify its position as the top choice for beginner and experienced traders alike.

Pros

• Three to Two types of trading accounts depending on the region
• NDD, STP, and ECN broker
• Regulated by the FCA and the FSA
• Great resources for traders (A – Z Trading Academy)
• Low initial deposit ($50) with a minimum lot size of 0.1
• 100+ assets to trade
• Tighter spreads on ECN accounts (from 0.2 pips)
• Zero commission with low spreads
• Spreads As Low As 0.2
• $15 Minimum Deposit (Cent Account)

Cons

• $1,000 deposit for traders on ECN Accounts
• Trading is not available to U.S.-based residents
• No Web-Based Platform

2. XM

As one of the best MT4 brokers for beginners, XM has made a name for itself in the world of online Trading. Established in 2009, XM (known as XeMarkets) is a Cyprus-based international online foreign exchange broker allowing users to open accounts and trade various financial markets. With a solid reputation and impressive expert score of 7.8/10, XM ranks just below ZFX, making it a strong contender in the MetaTrader 4 brokers list.

XM offers a range of electronic trading platforms, including the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5), designed for beginners and experienced traders. MT4 is known for its user-friendly interface, advanced charting capabilities, and the ability to use Expert Advisor (EA) strategies for automated Trading. The MT5 platform is an upgrade from MT4, providing additional features, more trading instruments, and an improved trading system.

XM also has a proprietary mobile trading app, XM – Trading Point, which allows traders to access their accounts and trade on the go. Both MT4 and MT5 are available on this app, making it easy for users to manage their trades from anywhere.

Several authorities regulate XM, including ASIC, CySEC, IFSC, FSCA, the FSC, and the FCA. This ensures that the broker adheres to strict regulatory requirements, providing traders with a safe and secure environment. With a strong focus on safety and security, potential scams are not a concern when trading with XM.

XM offers a variety of account types to cater to different traders’ needs, including Micro, Standard, and Ultra-Low accounts. Each account type has its own set of features and benefits, such as low forex spreads, small contract sizes, and low minimum deposit requirements. XM also offers a Share account for stock trading, allowing traders to buy and sell company shares directly.

With excellent customer support, XM differentiates itself from other brokers in the MetaTrader 4 reviews. Support is available 24/7 through email, live chat, and telephone. The Help Center on XM’s website provides detailed information on various topics, ensuring traders can access the resources they need.

XM offers a range of deposit and withdrawal methods, making it easy for traders to manage their funds. Options include credit/debit cards, online bank transfers, Neteller, Skrill, Webmoney, Perfect Money, G Pay, and SticPay.

XM provides attractive promotions to entice new clients and reward existing ones. These include a 50 USD trading bonus upon account registration, a two-tier deposit bonus of up to 5,000 USD, a referral program, and seasonal bonuses available for limited periods. XM also offers free deposits and withdrawals with no hidden fees or commissions.

Overall, XM is a top choice for those seeking a reliable and trustworthy MT4 broker in Malaysia and beyond. With a variety of account types, excellent customer support, and a range of special offers, XM is an ideal choice for both beginner and experienced traders.

Pros

• Wide range of trading instruments
• MT4 and MT5 platforms
• Excellent educational resources
• Multiple account types
• Fast deposit and withdrawal options

Cons

• Limited to specific regions
• Standard account spreads are quite expensive
• Average spreads are not published for ultra-low accounts
• Average forex portfolio
• No investor protection for residents outside the EU.

3. IG

IG, established in 1974, is a leading online trading firm and one of the most experienced brokers in the market. With over 48 years of experience, IG has grown to offer retail investors Forex, CFDs, spread betting, and share dealing Trading. As a well-regulated online trading platform offering over 19,000 financial instruments, IG is undoubtedly one of the best MT4 brokers in Malaysia and a strong alternative to ZFX.

IG’s long-standing reputation and comprehensive regulation by tier-1 jurisdictions make it a low-risk FX and CFDs broker. Six international authorities regulate IG, including ASIC, JFSA, MAS, FINMA, FCA, and FMA (New Zealand). IG is also listed on the UK stock exchange and included in the FTSE 250 index, ensuring complete transparency regarding its financial health.

IG provides several trading platforms to satisfy all traders, whether beginners or experts. MetaTrader 4 (MT4) is available, which is the best MT4 broker for beginners due to its user-friendly interface and extensive trading tools. IG also offers ProRealTime and L2 Dealer for advanced traders. Additionally, IG has excellent charting tools, with 30 different technical indicators available for easy editing and saving of charts.

IG offers a straightforward account structure, with a single account type suitable for both beginners and experienced traders. The platform provides competitive spreads and fees, with Forex and commodities fees limited to the spread, often less than 1 pip for the EUR/USD pair. For equities, a 0.10% commission of the trade amount is applied.

IG’s customer support is available 24/5 via phone, email, and live chat. Their knowledgeable and responsive team can assist with any account, Trading, or platform queries.

Depositing funds is free and unlimited at IG Withdrawals incur a small, fixed fee, which is lower than other online brokers. You can deposit money via bank transfers, credit/debit cards, and PayPal. Accepted cards include Maestro, Visa, Electron, MasterCard, and major prepaid cards. Deposits via bank transfer can take several business days, while card and PayPal deposits are instant.

Currently, IG does not offer any bonuses or promotions for US accounts. However, their competitive fees and comprehensive range of trading instruments make them an attractive choice for traders in Malaysia.

IG takes the education of its clients seriously, offering a wide range of interactive educational tools and online courses in the IG Academy. From basic market knowledge to advanced trading techniques, traders can find resources to advance their knowledge and improve their trading skills, regardless of their experience level.

IG is a trustworthy and well-regulated MT4 broker in Malaysia, offering a comprehensive range of trading instruments and tools. While it may not be as highly regarded as ZFX, IG’s extensive regulatory oversight, excellent trading platforms, and competitive fees make it an attractive alternative for Malaysian traders looking for a reliable and safe broker.

Pros

• Large product portfolio
• Competitive spreads and fees
• Offers MT4 and proprietary trading platform
• Excellent research and educational resources
• Regulated by multiple agencies

Cons

• No account protection for US clients
• No guaranteed stop losses for US clients
• No copy trading or back-testing integration on the IG platform
• High share-CFD fees

4. Exness

Established in 2008 and based in Limassol, Cyprus, Exness has grown to become one of the largest forex brokers globally, with nearly USD 1,000 billion monthly trading volume as of 2021. Managed by Nymstar, this broker operates in several territories, including the UK (Business to Business only), Seychelles, South Africa, Curacao & Sint Maarten, and the British Virgin Islands, and is regulated in all of them. Exness offers a multitude of financial instruments and an impressive range of trading platforms, including the industry-standard MetaTrader 4 (MT4) and MetaTrader 5 (MT5), as well as their proprietary Exness Trader App and Exness Terminal. Catering to beginners and experienced traders alike, Exness is considered one of the best MT4 brokers in Malaysia and a strong contender in the MT5 broker category.

As a highly regulated broker, Exness operates under the supervision of various regulatory authorities in its territories, ensuring the safety and security of its client’s funds. Traders can be confident that Exness adheres to strict regulatory requirements and maintains high transparency in its operations.

Exness offers a rich ecosystem of trading platforms, including the popular MT4 and MT5 platforms, their proprietary Exness Trader App and Exness Terminal, as well as the MetaTrader WebTerminal and MetaTrader Mobile apps. This diversity caters to different trader preferences and allows them to choose the platform that best suits their needs.

The MT4 platform is widely regarded as the best MT4 broker for beginners, thanks to its user-friendly interface and comprehensive range of features. With a metatrader 4 brokers list featuring numerous options, Exness stands out due to its commitment to providing a seamless trading experience for its clients. The MT5 platform, on the other hand, offers more advanced features and is geared toward experienced traders seeking more sophisticated tools and functionality.

Exness provides an extensive array of analytical tools to assist traders in making informed decisions. These include the Economic Calendar, Trading Central signals, and market news by FXStreet. Additionally, the Exness Trader App and Exness Terminal, as well as the MT4 and MT5 platforms, come equipped with various charting and technical analysis tools to help traders identify and capitalize on market opportunities.

Exness offers two standard account types, Standard and Standard Cent, as well as three professional account types, Raw Spread, Zero, and Pro. Catering to different trading styles and preferences, these account types provide various benefits, such as low spreads, no commissions, and unlimited leverage, allowing traders to maximize their profits.

Exness offers a wide range of deposit and withdrawal methods, including bank cards, internet banking, e-wallets, and crypto-wallets. This flexibility allows clients to choose the payment method that best suits their needs and ensures that transactions are processed efficiently and securely.

Exness provides four support channels for its clients: Help Center, Live Chat, Email, and Phone. These options ensure that traders can access assistance quickly and efficiently, addressing any issues or concerns they may have.

While Exness does not offer signup bonuses or loyalty programs like some other brokers, it occasionally provides bonus credits to its clients for use in trading operations. These offers may be limited to specific jurisdictions, account types, or other conditions, but they can incentivize traders to join and trade with Exness.

In conclusion, Exness has established itself as one of the best MT4 brokers in Malaysia, offering an impressive range of trading platforms and account types for traders of all skill levels. With a strong focus on customer support, a wide array of deposit and withdrawal methods, and occasional bonus offers, Exness provides a comprehensive trading experience that caters to both beginners and experienced traders alike.

Pros

• Low trading costs
• High leverage available
• Instant withdrawals
• Offers MT4 and MT5 platforms
• Good customer support

Cons

• 24/7 customer support only available in some languages
• Training resources are minimal
• No US residents can be accepted as clients

5. InstaForex

InstaForex, a renowned online forex trading platform, has been serving over 7 million clients since 2007. With its vast array of trading instruments, including Forex, stocks, indices, commodities, futures, and cryptocurrencies, InstaForex has become a favorite among retail traders worldwide. Let’s examine if InstaForex is the best MT4 broker for beginners and how it compares to other MT4 brokers in Malaysia.

One feature that sets InstaForex apart from other brokers is its commitment to providing advanced trading technologies. The platform offers various trading tools and indicators to help traders make informed decisions and execute trades easily. InstaForex is featured on the MetaTrader 4 brokers list and has received positive feedback in MetaTrader 4 broker’s reviews. The broker also supports MetaTrader 5, allowing traders to choose between the two platforms.

InstaForex offers a range of educational resources, including video tutorials, training materials, and a knowledge base to help both beginner and experienced traders improve their skills. The platform also provides access to a team of forex professionals who can offer advice and support on all aspects of forex trading.

Regulation is crucial for any broker, and InstaForex is no exception. The broker is licensed by the BVI FSC, with license number SIBA/L/14/1082, ensuring that clients can trade with confidence, knowing their funds are secure.

When it comes to account types, InstaForex offers three options: Standard, Eurica, and Cent accounts. Each account type caters to different traders, providing flexibility in terms of trading leverage, deposit size, and trading terms. Additionally, InstaForex offers a proprietary mobile trading app, making it convenient for traders to manage their trades on the go.

Depositing and withdrawing funds is a crucial aspect of any trading platform. InstaForex offers an array of deposit and withdrawal methods, including bank cards, Neteller, Skrill, PayCo, AstroPay, cryptocurrencies, and bank transfers. Most deposit methods are subject to no fees, except for bank transfers.

Customer support is essential for any trading platform, and InstaForex provides multiple channels for clients to reach out for assistance. These include a callback request, FAQs, live chat, email, and social apps.

InstaForex also offers special promotions, such as a 100% bonus on the first deposit, a 55% bonus on every deposit, and a 30% welcome bonus for new clients. These bonuses are not available for withdrawal but can help traders increase their trading capital.

In conclusion, InstaForex is a reputable MT4 broker that provides a comprehensive trading experience for beginners and experienced traders alike. While it may not be considered the absolute best MT4 broker in comparison to other platforms like ZFX, InstaForex still delivers a high-quality trading experience for its clients. With its advanced trading technologies, educational resources, and professional support, InstaForex is a strong contender in the Malaysian market.

Pros

• Wide range of trading instruments
• MT4 and MT5 platforms
• Flexible leverage options
• Good educational resources
• Various deposit and withdrawal methods

Cons

• Spreads are high
• Only regulated by one authority

6. FBS

FBS, an online broker founded in 2009, has emerged as one of Malaysia’s best MT4 brokers for beginners and experienced traders. With over 23 million registered traders worldwide, FBS has garnered over 70 international broker awards and continues to attract 10,000 new traders every day. We will now cover FBS’s regulations, account types, customer support, deposit and withdrawal methods, and special offers, focusing on their prowess as a leading MT4 broker.

FBS is regulated by several authorities, including the Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), Financial Sector Conduct Authority (FSCA), and International Financial Services Commission (IFSC). This regulatory oversight provides clients with different protection levels based on their region and the overseeing authority.

FBS offers a range of trading platforms, including the industry-leading MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, available in both web and desktop environments. The MT4 platform is particularly popular among beginners, while the more advanced MT5 platform caters to experienced traders. FBS also provides its proprietary FBS Trader mobile app, allowing users to trade on the go.

FBS offers a variety of account types to cater to different traders, including Standard, Cent, Micro, Zero Spread, ECN, and Crypto accounts. The Cent Account is ideal for beginners looking for a low-risk trading environment, while the Standard Account is designed for experienced traders seeking competitive spreads without commissions. The Micro and Zero Spread accounts focus on forex and metals trading, while the ECN and Crypto accounts cater to more professional and specialized traders.

Then, FBS offers comprehensive customer support via phone, live chat, and email in multiple languages. Their Help Center also provides extensive information on various trading topics and their platform’s features.

FBS offers a wide range of deposit and withdrawal methods, including electronic payment systems like Neteller, STICPAY, Skrill, and Perfect Money, as well as credit and debit cards (Visa) and bank wire transfers.

FBS occasionally offers bonus credits and other promotions to its clients. The “Level Up Bonus” offers new clients a USD 140 signup bonus, while the 100% deposit bonus allows clients to double their equity with each deposit. FBS also offers a Loyalty Program where clients can earn points for Trading and receive real gifts.

In conclusion, FBS stands out as one of the best MT4 brokers in Malaysia, offering an excellent trading platform, diverse account types, comprehensive customer support, and attractive special offers. However, it is important to note that while FBS is a strong contender in the MT4 broker market, it may not be the perfect choice for everyone. It is always advisable to compare different brokers, such as ZFX, to find the best fit for your specific trading needs.

Pros

• Wide range of trading instruments
• Low minimum deposit requirement
• MT4 and MT5 platforms
• Good educational resources
• Fast deposit and withdrawal options

Cons

• Charges commission on some account types
• Limited research tools

7. Capital.com

Capital has established itself as one of the best MT4 brokers in Malaysia, providing a comprehensive trading experience for both beginners and experienced traders. Let’s delve into the details of this award-winning broker and its offerings, including its regulations, account types, customer support, deposit and withdrawal methods, and special offers.

Capital Com SV Investments Limited operates Capital.com, offering an extensive range of over 3,700 assets, including 27 indices, 200 cryptocurrencies, 37 commodities, 3293 shares, and 138 currency pairs. The broker’s reputation as a reliable and competitive platform has earned it numerous accolades, such as Investment Trends 2021, The European 2020, Shares Magazine 2020, and UK Forex Awards 2020.

Capital.com offers a variety of trading platforms to cater to different preferences:

• Web Terminal: A custom-built platform with a simple layout that includes 70 technical analysis indicators, drawing tools, financial articles, multi-chart layouts, personalized watchlists/price alerts, and hedging mode.
• Mobile Trading App: Available for iOS and Android, this app offers access to various markets, instant account portfolio access, financial articles with the latest news and updates, and watchlists for portfolios.
• Investmate: An education-based app for iOS and Android, perfect for new investors to learn about the industry without risking real money. The app includes a built-in market simulator, short lectures, and quizzes.
• MetaTrader 4 (MT4): A popular choice for both beginners and experienced traders, MT4 offers 85+ preinstalled technical indicators, 1-click Trading & trade from charts, 24 analytical charting tools, and automated trading 24/5.
• TradingView: A powerful charting platform compatible with Capital.com, offering built-in libraries for indicators, oscillators, strategies, and a drawing tab for chart analysis.

As one of the best MT4 brokers for beginners, Capital.com has earned a spot on the MetaTrader 4 brokers list, receiving positive Metatrader 4 brokers reviews. While MT5 broker services are not available, Capital.com still offers a competitive Metatrader 4 brokerage service.

The MetaTrader (MT4) platform is an industry favorite for both beginner and experienced traders, with easy-to-use features and a wide range of trading tools. Although the broker does not provide MT5 services, its MT4 offerings are robust and competitive.

Capital.com is a reliable MT4 broker and a trustworthy CFD broker. Their trading platform is safe and secure, with no reports of scams or fraudulent activity. Stock trading, Forex trading, and investing are all possible through the various platforms offered by the broker.

The custom-built web terminal and MetaTrader 4 platform both provide ample charting tools and automated trading options, making it easy for traders to develop and implement their trading systems. Additionally, the broker’s compatibility with TradingView enhances the charting capabilities for users.

Capital.com also offers copy trading services, allowing traders to follow the strategies of other successful traders. The broker’s diverse asset offerings make it an ideal choice for those looking to invest in various markets, including Forex, stocks, and cryptocurrencies.

Capital.com does not charge any deposit or withdrawal fees and has no inactivity fee. Minimum deposits are $20 for credit card transactions or $250 for wire transfers. Minimum spreads range from 0.004 for stocks, 0.07 for indices, 0.018 for commodities, and 0.7 pips for currencies.

The broker also provides extensive market research in both written and video formats, including news, market analysis, webinars, Capital.com TV, and an economic calendar. This high-quality content is updated regularly, catering to beginners and advanced traders alike.

There are three account types available: Standard, Plus, and Premier. The Standard account is best suited for new traders, while the Plus account caters to experienced traders with a higher minimum deposit and exclusive access to events and private webinars. The Premier account is tailored for professional traders.

Deposits and withdrawals can be made using a variety of methods, including Credit/Debit Cards, Wire Transfers, Skrill, Apple Pay, UnionPay, WorldPay, Neteller, GiroPay, iDeal, Multibanco, Przelewy24, Sofort, Qiwi, WebMoney, and Asian online banking. Deposit times vary, with online wallets, and debit/credit cards taking a few hours and wire transfers taking two to three days. Withdrawal times range from one business day to several days.

Capital.com offers multilingual customer support through telephone, live chat, Viber, WhatsApp, Telegram, Facebook Messenger, email, and searchable Q&A. Local customer support agents are available in several languages and territories.

Capital.com is a leading MT4 broker in Malaysia, offering a wide range of trading platforms and tools, competitive fees, and top-notch customer support. With its diverse asset offerings and commitment to providing quality education, Capital.com is an excellent choice for both beginner and experienced traders.

Pros

• User-friendly platform
• Competitive spreads
• Wide range of trading instruments
• Good educational resources
• 24/7 customer support

Cons

• Stock trading is not currently available on their web terminal
• Limited offering of stocks
• No bonds offered
• Doesn’t offer MetaTrader5 (MT5)
• Overnight fees

8. FP Markets

FP Markets, founded in 2005 by Matthew Murphie, is an online CFD broker offering a range of trading platforms, including the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5). The broker enables clients to trade various financial instruments such as Forex, crypto, stocks, indices, commodities, bonds, and ETFs. Despite not being as well-known as ZFX, FP Markets is considered one of the best MT4 brokers in Malaysia, thanks to its extensive offerings and strong regulatory framework.

FP Markets is regulated by the Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), and the Financial Sector Conduct Authority (FSCA). These regulatory bodies ensure that the broker operates in compliance with stringent guidelines, providing a secure trading environment for traders.

FP Markets primarily offers MT4 and MT5 trading platforms, with the exception of iOS users. Both platforms are highly customizable and come with numerous features catering to different trading needs. MT4 is a favorite among beginners and experienced traders alike, featuring one-click Trading, Expert Advisors (EAs), customizable alerts, and access to the MetaTrader market and MQL4 community.

On the other hand, MT5 offers additional features such as depth of market display, 21-time frames, eight order types, and an improved strategy tester for algorithmic Trading and EAs. The web terminal version of MetaTrader allows traders to access the platform without downloading any software.

Social Trading is also available on both MT4 and MT5, allowing traders to follow the strategies of other successful traders through copy trading.

FP Markets offers two account types: Standard and Raw. Both accounts require a minimum deposit of 100 AUD and offer a maximum leverage of up to 1:500. They also provide access to 60 forex pairs, metals, indices, and commodities. The primary difference between the two accounts lies in the spread and commission fees. The Standard account has zero commission with spreads starting at 1 pip, while the Raw account offers zero pip spread and a 3 USD per side commission fee.

FP Markets provides an extensive list of deposit and withdrawal options, including Master Card, VISA, bank transfer, Neteller, Skrill, STICPAY, FasaPAY, Perfect Money, crypto, Apple Pay, and Google Pay. Most deposit methods are instant, while withdrawals are usually processed within one business day.

Customer support at FP Markets is available through phone, email, and live chat. The broker offers support in multiple languages, ensuring that traders from different backgrounds can communicate effectively with the support team.

FP Markets’ partner program is the only special offer currently available. This program combines an affiliate and IB program, allowing traders to earn commissions through referrals and Copy Trading.

FP Markets is a reliable MT4 broker in Malaysia, offering a wide range of trading platforms, a diverse selection of assets, and robust customer support. The broker’s strong regulatory framework and comprehensive educational materials make FP Markets an excellent choice for both beginner and experienced traders. While it may not be as prominent as ZFX, FP Markets is undoubtedly a solid option for those looking to trade using the MT4 platform.

Pros

• Competitive spreads and fees
• Wide range of trading instruments
• MT4 and MT5 platforms
• Excellent research tools
• Good customer support

Cons

• Minimum deposit requirement
• Charges fees for some deposit and withdrawal methods

9. RoboForex

RoboForex, with over a decade of experience in the financial industry, has earned a reputation as one of the best MT4 brokers in Malaysia. Catering to more than 1 million clients from 169 countries worldwide, this Belize-based broker offers an extensive range of trading platforms and assets for clients to choose from.

RoboForex is regulated by the Financial Services Commission (FSC) and is the sponsor of Club Cienciano. The broker allows clients to trade CFDs and shares, providing a secure and trustworthy trading environment for both beginners and experienced traders.

MT4 Platform As one of the top MetaTrader 4 brokers on our list, RoboForex offers the MT4 platform, which is perfect for beginners and seasoned traders alike. MT4 is a powerful trading platform that comes with advanced charting capabilities, automated trading systems, copy trading features, and more. It’s available for Windows, Android, and through a web terminal, making it accessible to all types of traders.

RoboForex offers five different account types to cater to the diverse needs of its clients:

• Prime Account
• ECN Account
• R StocksTrader Account
• ProCent Account
• Pro Account

Each account type comes with its unique features and benefits, catering to different trading preferences and strategies. For example, the ProCent account is ideal for testing strategies, while the R StocksTrader account allows clients to trade actual shares and CFDs on over 12,000 assets.

Customer Support RoboForex’s customer support is top-notch, with options such as WhatsApp, Facebook Messenger, and Telegram available for clients who need assistance. Additionally, traders can leave their phone numbers to receive a callback from the support team, ensuring that help is always just a call away.

RoboForex offers a wide range of deposit and withdrawal methods, including bank payments, e-wallets, bank cards, and cash vouchers. Some popular options include Google Pay, ApplePay, Mastercard/Visa, Skrill, Neteller, PerfectMoney, AstroPay, and crypto. There are no deposit fees, and the processing time is usually within a day.

RoboForex has a range of special offers and promotions for its clients, such as welcome bonuses, rebates, and deposit bonuses. However, it’s important to note that some promotions may not be applicable to Malaysian residents. Be sure to check the terms and conditions for each promotion before participating.

In conclusion, RoboForex stands out as one of the best MT4 brokers in Malaysia for beginners and experienced traders alike. With its strong regulation, diverse account types, excellent customer support, and a wide range of deposit and withdrawal methods, RoboForex offers a reliable and secure trading environment.

Pros

• Wide range of trading instruments
• Low trading fees
• MT4, MT5, and cTrader platforms
• Multiple account types
• Good customer support

Cons

• Limited research tools
• Charges commission on some account types

10. AXI

Axi, an Australian online broker founded in 2007, has gained a strong reputation as one of Malaysia’s best MT4 brokers for beginners. This broker currently serves over 60,000 traders in more than 100 countries worldwide. With its roots in forex and CFDs trading, Axi is regulated by three reputable authority commissions: ASIC, FCA, and DFSA.

Axi’s offerings encompass a diverse range of assets, including Forex, stocks, commodities, indices, and crypto. The broker provides clients with ultra-competitive pricing, award-winning 24/5 support, high-performance trading technology, lightning-fast execution, and free trading education.

The MT4 platform, which is available for Windows, Mac, Android, and the MT4 web terminal, provides traders with powerful tools for automated Trading, charting, and investing. In addition to its extensive MetaTrader 4 (MT4) platform offering, Axi also provides a proprietary Axi Copy Trading app. This app allows clients to copy trades from other users on the platform, effectively enabling them to invest like top traders.

Axi offers three account types—Standard, Pro, and Elite—catering to different levels of traders. Axi supports various deposit and withdrawal methods, such as credit/debit cards, POLi, bank transfers, FasaPay, Neteller, crypto, and Skrill, with most transactions being fee-free and processed quickly. The broker also provides Islamic accounts with no swap fees or interest payments for clients who cannot pay or earn interest due to religious beliefs.

Axi’s customer support is available via phone, email, live chat, and WhatsApp. The broker also provides an extensive Help Center, where traders can find answers to common questions about MT4, account information, trading tools, and more. Axi’s special offers include an affiliate and IB partner program, a MAM service, and a referral program for earning commission on every traded lot.

Although Axi may not be as highly ranked as ZFX, it remains a strong contender in the competitive world of MT4 brokers. Overall, Axi’s comprehensive offerings, solid reputation, and powerful MT4 platform make it a top choice for traders in Malaysia. The broker’s extensive educational resources, dedicated customer support, and diverse account types cater to traders of all levels, while its proprietary Axi Copy Trading app offers an innovative way to invest like top traders.

Pros

• Regulated by ASIC, FCA, and DFSA
• MT4 platform and Axi Copy Trading App
• Competitive pricing and spreads
• Wide range of deposit and withdrawal methods
• 24/5 customer support

Cons

• Limited product portfolio compared to some competitors
• No special customer offers or bonuses

How To Start MT4 Trading in Malaysia?

Now that you have explored our selection of the top MT4 brokers in Malaysia, you might be thinking about opening an account with one of them. Generally, all the brokers we reviewed have a similar online registration process via their website or mobile app.

We will now guide you on how to start forex trading in Malaysia, focusing on the MT4 platform, by registering and opening a trading account using our top licensed MT4 broker: ZFX.

1. Open an Account

First, visit the ZFX website. Depending on your location, you will automatically be directed to the appropriate regional domain. Don’t worry about registration differences based on your region, as ZFX has streamlined the signup process for all locations, ensuring a consistent interface for everyone.

The only difference is that you’ll be presented with relevant account types based on your region when prompted to choose.

Navigate to the ZFX website and click on the “open an account” button at the top.

You’ll be directed to the registration page, where you need to provide personal information, such as your title, name, last name, country, phone number, and password. Remember, you can opt to open a live or demo account from this screen.

Once ZFX sends a verification code to your phone and you input it into the designated field, you can proceed to the next page.

Here, you’ll choose your account type. Note that the account types vary depending on your region. For example, if you’re signing up from Malaysia, your account options will include Mini, Standard STP, and ECN accounts.

Next, you’ll see a screen displaying your account details and the option to download MT4. Save your account information as you’ll need it to log in to MT4, while the account password you set will be used to access MyZFX (the client backend).

2. Make your First Deposit

If you decide to open a live account, click on the “make a deposit” button, which will direct you to your personal client area. Here, you’ll find various methods to deposit funds into your account.

Depending on the method you select, there will be a minimum deposit requirement. Fill out the necessary details, click “confirm” deposit, and you’ll be taken to a secure payment portal to complete your deposit.

3. Verify Your Account

To enroll in the Interest Program and withdraw funds from your low-spread MT4 trading account, you must complete the identity verification process with ZFX. Finishing the Know Your Customer (KYC) requirements before making any deposits is crucial.

To verify your identity, you’ll need to submit several documents, such as your ID, bank statements, and proof of residency. Check the image below for a clearer understanding of the necessary documents.

4. Start Trading

To begin Trading, download MT4 when prompted during the signup process. After installing it on your device, open it and select the applicable ZFX server.

MetaTrader will load, allowing you to view asset charts and place trades. You’ll be asked to choose your existing account, either a demo or live account (based on your selection during registration with ZFX). Input the required fields, and you’re all set.

Remember that if you plan to withdraw funds from your account, you must first complete the verification process in your MyZFX client area. This involves uploading the necessary documents, as shown in the image below.

Advantages and Risks of MT4 Trading in Malaysia?

Advantages

• User-friendly interface: MT4 is designed for ease of use, making it accessible to traders of all skill levels.
• Customization: The platform allows traders to customize charts, indicators, and trading tools to suit their preferences.
• Wide range of technical indicators: MT4 comes with a vast selection of preinstalled technical indicators for comprehensive market analysis.
• Expert Advisors (EAs): MT4 supports automated Trading through EAs, enabling users to create or install algorithmic trading strategies.
• Multi-language support: The platform supports numerous languages, catering to a global user base.
• High level of security: MT4 employs robust security measures, including data encryption and secure authentication systems.
• Mobile Trading: MT4 offers mobile apps for iOS and Android devices, allowing traders to manage their accounts on the go.
• Customizable alerts: Traders can set up price and indicator alerts to stay informed about market conditions.
• Wide broker support: Many brokers, including ZFX, offer MT4 as a trading platform, providing users with a variety of options.
• Active community: The MT4 community offers a wealth of resources, such as forums, articles, and third-party plugins, to help traders get the most out of the platform.

Risks

• Limited asset classes: MT4 primarily focuses on forex trading, which might not suit traders interested in other financial instruments.
• Over-reliance on automation: Using EAs for automated Trading can lead to a lack of manual oversight and increased risk.
• Latency issues: Connectivity problems or slow internet connections can lead to delayed trade execution and potential losses.
• Outdated technology: MT4’s age might make it less appealing to users who prefer more modern platforms like MT5.
• Overuse of leverage: MT4 allows for high-leverage trading, which can amplify gains but also magnify losses.
• Compatibility issues: Some custom indicators and EAs might not be compatible with certain broker implementations of MT4.
• Phishing and scams: Fraudsters can target MT4 users with fake EAs, indicators, or trading signals.
• Insufficient risk management: Users who do not employ proper risk management techniques can experience significant losses.
• Emotional Trading: The ease of use and accessibility of MT4 can lead to impulsive trading decisions based on emotions rather than analysis.
• Platform bugs and glitches: As with any software, MT4 can occasionally experience technical issues that may disrupt Trading.

Bottom Line

In conclusion, ZFX stands out as the best MT4 broker among its competitors, including XM, IG, Exness, Axi, RoboForex, and FP Markets. When focusing on the MT4 platform, ZFX demonstrates exceptional proficiency and offers several key advantages that set it apart from the rest.

In summary, ZFX’s unparalleled user experience, low trading fees, fast and reliable order execution, varied account offerings, and top-notch customer support make it the best MT4 broker when compared to its competitors.

FAQs