Low Deposit Forex Brokers in Malaysia
There is no fixed parameter in how much capital is the right amount for opening a forex trading account. Yet, most agree that the lower it is the better. That's why forex brokers with low deposits generally gain high popularity among retail traders. If you are a Malaysian resident or non-Malaysian resident who are interested to trade with a forex broker residing in the country, here is a specific list of low deposit forex brokers in Malaysia.
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Established in 1996, the statutory body is responsible for developing and administrating the Labuan International Business and Financial Centre (Labuan IBFC) to promote and develop Labuan as an international center for business and financial services. Labuan IBFC complements Malaysian financial industry through its strong regulatory and supervisory functions that are developed in accordance with international standards.
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What's the drawback of living in Malaysia as forex trader?
Unfortunately, this country has a fairly high crime rate. Especially in the last three years, criminal crimes have increased including theft, robbery, vandalism, corruption, and bribery.
In addition, this country has a high traffic density with an average waiting time of around 37 minutes.
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What are the financial regulators in Malaysia?
Currently, Malaysia has several financial regulators that issue licenses for trading providers. Aside from the Securities Commission of Malaysia (SCM) that specifically deals with securities market, there are also Bursa Malaysia (a stock exchange), Malaysia International Islamic Financial Centre (MIFC), Shariah Advisory Councils (SAC), and Labuan Financial Services Authority (Labuan FSA or LFSA).
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What are the top forex brokers for Malaysian trader?
These are some of the best Malaysian brokers to consider:
- Tickmil: LFSA with License Number MB/18/0028.
- FBS: LFSA with License Number MB/18/0028.
- IFC Market: LFSA with License Number MB/20/0049.
- ICM Market: LFSA with License Number MB/18/0029.
- Hirose: LFSA with License Number MB/15/0006.
- Deriv: LFSA with License Number MB/18/0024.
- XM Malaysia: Not regulated by the LFSA.
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