The Forex market can be a maze without the right broker, particularly if you’re interested in trading Malaysian Ringgit.
This extensive guide pulls back the curtain on the best Forex brokers offering MYR accounts, scrutinizing each for its pros, cons, and unique features. In this in-depth guide, you’ll learn about the following:
- The Best Forex Brokers in Malaysia with Ringgit Accounts (2025) – a List
- What is a Ringgit Account and who (Country) uses Ringgit?
- Can the Ringgit be traded inside/outside Malaysia?
- Why Malaysian Ringgit Accounts are Essential for Local Traders
and much, MUCH more!
The Best Forex Brokers in Malaysia with Ringgit Accounts – a Comparison
| 🔎 Broker | 💷 Ringgit Account | 💶 Min. Deposit (USD) | 💵 Min. Deposit (MYR) |
| 🥇 Exness | ✅Yes | $10 USD | 46.72 MYR |
| 🥈 JustMarkets | ✅Yes | $1 USD | 4.67 MYR |
| 🥉 SuperForex | ✅Yes | $1 USD | 4.67 MYR |
The Best Forex Brokers in Malaysia with Ringgit Accounts (2025)
- ☑️ Exness – Overall, The Best Forex Broker with Ringgit Accounts in Malaysia
- ☑️ JustMarkets – Top Broker with a Low (MYR) Minimum Deposit
- ☑️ SuperForex – Best Broker with Beginner Malaysian Traders
Exness
Malaysian traders must note that currently, Exness does not extend its service to clients in the region. However, we included Exness in this list because it offers a MYR-denominated account. Therefore, the inclusion of Exness is merely for informational purposes alone.
Furthermore, Exness is known for its transparent trading conditions and diverse account types. The broker supports MetaTrader 4 and MetaTrader 5 and mobile trading platforms.
Exness is regulated by several financial authorities, including CySEC and the FCA, ensuring that its users are safe. One of the main draws is the ultra-low spreads and flexible leverage, which can be unlimited, depending on the account balance.
Exness Fee Structure
Spreads
Exness charges variable spreads according to the account type and instrument being traded. Some typical fees include the following:
| 🔎 Account Type | 💴 EUR/USD | 💵 XAG/USD | 💶 BTC/USD | 💷 US Oil | 💴 AAPL | 💵 USTEC |
| 🥇 Standard Account | 1 pip | 3.8 pips | 496 pips | 9.5 pips | 0.9 pips | 55 pips |
| 🥈 Standard Cent Account | 1 pip | 3.8 pips | N/A | N/A | N/A | N/A |
| 🥉 Raw Spread Account | 0 pips | 1.9 pips | 193 pips | 4.4 pips | 0.5 pips | 10 pips |
| 🏅 Zero Account | 0 pips | 0.1 pips | 193 pips | 2.3 pips | 0.3 pips | 8.5 pips |
| 🎖️ Pro Account | 0.6 pips | 2.4 pips | 310 pips | 5.9 pips | 0.6 pips | 34 pips |
Commissions
Certain accounts have a set rate commission to ensure that the broker receives compensation for their services in arranging transactions. The commissions for these types of accounts are as follows:
- ✅ Raw Spread Account – A commission of up to $3.50 per side, per lot
- ✅ Zero Account – A commission starting from $0.1 per side, per lot
Overnight Fees
Traders who keep their positions overnight can anticipate incurring charges that will differ based on various factors. These include the type of financial instrument held, the duration it is kept for, the size of the position, and prevailing interbank rates.
Here are a few examples of swap fees traders may encounter:
| 🔎 Instrument | ↪️ Long Swap | ➡️ Short Swap |
| 💴 EUR/USD | -0.62 pips | 0 |
| 💵 GBP/USD | -0.31 pips | 0 |
| 💶 XAG/USD | -0.4066 pips | 0 |
| 💷 XAU/USD | -27.6429 pips | 0 |
| 💴 BTC/USD | 0 | 0 |
| 💵 US OIL | -2.85 pips | -2.44 pips |
| 💶 Shares | 0 | 0 |
| 💷 US TEC (Nasdaq) | 0 USD | 0 USD |
| 💴 UK 100 | 0.595 GBP | -0.595 GBP |
Exness Pros and Cons
| ✅ Pros | ❎ Cons |
| Exness is known for its transparent fee structure, which allows traders to understand costs easily | Due to regulatory constraints, traders from certain jurisdictions are unable to access Exness |
| Allows traders to maximize their trading potential by providing flexible leverage options that are unlimited according to the account balance | Focuses primarily on Forex and CFDs, with fewer trading instruments than some other brokers |
| Exness is regulated by both CySEC and the FCA, providing traders with an extra layer of security | For beginners, the variety of account options can be confusing |
Is Exness suitable for beginners?
Yes, even though Exness does not accept Malaysian traders, it is one of the best options for beginners because of its extensive educational materials.
JustMarkets
JustMarkets is a well-known forex trading platform with a global presence in over 180 countries. The platform, founded in 2012 and headquartered in Seychelles, offers traders a variety of features, including low spreads starting at 0.0 pips, high leverage up to 1:3000, and a selection of more than 90 financial instruments. Notable Features of JustMarkets include:
- ✅ High leverage options
- ✅ Offers various asset classes beyond Forex
- ✅ Live chat support
- ✅ Educational resources for traders
and many more!
JustMarkets Fee Structure
Spreads
A JustMarkets account user should expect a minimum spread depending on their account type, the financial instrument exchanged, and general market conditions at the time of the transaction.
JustMarkets’ spreads are lower than the industry average despite not being the lowest. The typical minimum spread based on account type is as follows:
- ✅ MetaTrader 4 Standard Cent Account – 0.3 pips
- ✅ MetaTrader 4 Standard Account – 0.3 pips
- ✅ MetaTrader 4 Pro Account – 0.1 pips
- ✅ MetaTrader 4 Raw Spread Account – 0.0 pips
- ✅ MetaTrader 5 Standard Account – 0.3 pips
- ✅ MetaTrader 5 Pro Account – 0.1 pips
- ✅ MetaTrader 5 Raw Spread Account – 0.0 pips
Commissions
Commissions are charged on the following types of accounts at JustMarkets:
- ✅ MetaTrader 4 Raw Spread Account – 3 units of the base currency per lot/per side
- ✅ MetaTrader 5 Raw Spread Account – 3 units of the base currency per lot/per side
Overnight Fees
Overnight charges apply to traders who keep their trades open for more than 24 hours. The trader’s open position size largely determines these fees, the financial instrument used, and whether the trader goes long or short in the underlying asset.
Here are some examples of typical overnight fees for traders:
| 🔎 Instrument | ↪️ Long (Buy) Swap | ➡️ Short (Sell) Swap |
| 💴 EUR/USD | -4.44 pips | -0.09 pips |
| 💵 Cryptocurrencies | -20% | -20% |
| 💶 Energies | -6% | -3% |
| 💷 Indices | -1% | -2% |
| 💳 Stocks | -6% | -3% |
| 💴 XAG/USD | -0.2 pips | -0.09 pips |
| 💵 XAU/USD | -4.18 pips | -0.77 pips |
Inactivity Fees
Accounts inactive for over 150 days will be charged an administrative fee for inactivity. After the account has been dormant for over a year, a $5 monthly fee will be assessed.
Deposit and Withdrawal Fees
There are no deposit or withdrawal fees at JustMarkets. However, cryptocurrency traders must be aware that a blockchain fee will apply.
JustMarkets Pros and Cons
| ✅ Pros | ❎ Cons |
| Provides high-leverage options for traders looking to increase the size of their trades | Regulatory information may not be readily available as of the most recent data, necessitating due diligence |
| In addition to Forex, JustMarkets offers trading in a variety of asset classes, giving traders a wide range of options | While live chat is available, the overall quality of customer service may differ according to user comments |
| Offers a variety of educational materials that are beneficial to both novice and experienced traders | Because it is not as well-known as other brokers, it may raise questions about its dependability |
SuperForex
SuperForex is an online brokerage founded in 2013 to provide its clients with high-quality, innovative trading services. The broker offers over 400 CFD products to a diverse clientele across more than 150 countries. The brokerage operates on the user-friendly MetaTrader 4 (MT4) trading platform and has a global network of subsidiaries.
SuperForex Fee Structure
Spreads
Traders should expect SuperForex spreads to fluctuate depending on the financial instrument being traded, the market’s state, and the transaction’s specifics. SuperForex provides traders with a comprehensive list of all the spreads available for their accounts.
The following are SuperForex’s average EUR/USD spreads by account type:
- ✅ Standard Account – Fixed, 2 pips
- ✅ Swap-Free Account – Fixed, 2 pips
- ✅ No Spread Account – Fixed, 0.1 pips
- ✅ Micro Cent Account – Fixed, 2 pips
- ✅ Profi STP Account – Fixed, 0.1 pips
- ✅ Crypto Account – Fixed, 2 pips
- ✅ ECN Standard Account – Variable, from 0.0 pips
- ✅ ECN Standard Mini Account – Variable, from 0.0 pips
- ✅ ECN Swap-Free Account – Variable, from 0.0 pips
- ✅ ECN Swap-Free Mini Account – Variable, from 0.0 pips
- ✅ ECN Crypto Account – Variable, from 0.0 pips
Commissions
Commissions may be applied to SuperForex accounts and financial products in some cases. Only the following accounts have fees, even though the majority do not:
- ✅ No Spread Account – form 0.017%
- ✅ Profi STP Account – from 0.013%
- ✅ Crypto Account – from 0.75%
- ✅ ECN Standard Account – Between $8 to $10 on Forex
- ✅ ECN Swap-Free Account – Between $10 on Forex Majors and $40 on Energies
- ✅ ECN Swap-Free Mini Account – Between $10 on Forex Majors and $40 on Energies
- ✅ ECN Crypto Account – From 0.6%
Overnight Fees
SuperForex charges overnight fees for a limited number of accounts and only on certain currency pairs. Traders can expect the following average overnight fees for a few of the available currency pairings:
| 🔎 Instrument | ↪️ Long (Buy) Swap | ➡️ Short (Sell) Swap |
| 💴 EUR/USD | -0.018 pips | 0.006 pips |
| 💵 Gold | -0.035 pips | 0.015 pips |
| 💷 Silver | -0.01 pips | 0.005 pips |
| 💶 NAS100 | -0.15 pips | -0.2 pips |
| 💴 Energies | -0.01 pips | -0.02 pips |
| 💵 Apple, Inc. | -0.01 pips | -0.02 pips |
| 💷 BTC/USD | -8 pips | -8 pips |
Deposit and Withdrawal Fees
There are no fees associated with depositing SuperForex. When making a withdrawal, however, the following fees apply:
- ✅ Bank Transfers (All) – 3% along with 35 USD
- ✅ South African Bank Transfers – from 1.4% to 3.8%
- ✅ Southeast Asian Bank Transfers – 3%
- ✅ Latin American Bank Transfers – $5
- ✅ Credit and Debit Card – 3% + 10 USD
- ✅ UnionPay – 3%
- ✅ Skrill – 1 USD if the withdrawal amount is less than 50 USD, 1.5% if the withdrawal amount is more than 50 USD
- ✅ Neteller – 2%
- ✅ Sticpay – 2.5% + $0.3
- ✅ Triv, FasaPay, and Perfect Money – 0.5%
- ✅ OnlineNaira – 2%
- ✅ BitWallet – 4%
- ✅ AstroPay – 5%
- ✅ M-PESA, Airtel, MTN – 3%
- ✅ Crypto Wallets – 5%
- ✅ Local Payments – Local Bank Wire Fees
Inactivity Fees
When a trading account is inactive, SuperForex does not charge any fees.
Do brokers charge fees for MYR accounts?
Yes, they could. Broker fees vary; some charge small fees for account maintenance or transactions.
Is leverage available for MYR Forex accounts?
Yes, leverage options are available, but to varying degrees, depending on the broker.
SuperForex Pros and Cons
| ✅ Pros | ❎ Cons |
| Provides up to 1:2000 leverage, allowing traders to take larger positions with less capital | SuperForex claims to be regulated by the IFSC, but this cannot be verified |
| SuperForex has a low minimum deposit of $1 for the Standard account, making it accessible to a wide range of traders | Support for MetaTrader 5 is currently unavailable, limiting options for traders who prefer MetaTrader 5 |
| Offers bonuses and promotional campaigns regularly, incentivizing traders to engage more | SuperForex provides both fixed and floating spreads, which may be inconvenient for traders who prefer a consistent spread structure |
Exness vs JustMarkets vs SuperForex – A Comparison
| 🔎 Broker | 🥇 Exness | 🥈 JustMarkets | 🥉 SuperForex |
| 📌 Regulation | FSA, CBCS, FSC, FSC BVI, FSCA, CySEC, FCA, CMA | FSA | None |
| 📍 Withdrawal Fee | None | None | ✅Yes |
| 🆓 Demo Account | ✅Yes | ✅Yes | ✅Yes |
| 💴 Minimum Deposit | $10 | $1 | $1 |
| 📈 Leverage | Unlimited | Up to 1:3000 | 1:2000 |
| 📉 Average EUR/USD Spread | From 0.0 pips | From 0.0 pips | From 0.0 pips |
| 📊 Commissions | From $0.1 per side per lot | $3 units per lot/side | From 0.013% |
| ⛔ Margin Call/Stop-Out | 60%/0% | 40%/20% | 80%/40% |
| 💹 Order Execution | Market | Market | Market, Instant |
| 🎁 No-Deposit Bonus | None | ✅Yes | ✅Yes |
| 🪙 Cent Accounts | ✅Yes | ✅Yes | ✅Yes |
| ▶️ Regulated in Malaysia | None | None | None |
| 💴 MYR Deposits | ✅Yes | ✅Yes | ✅Yes |
| 💵 MYR Account Offered | ✅Yes | ✅Yes | ✅Yes |
| ⏰ Customer Service Hours | 24/7 | 24/5 | 24/5 |
| 🔟 Retail Investor Accounts | 5 | 7 | 11 |
| ☪️ Islamic Account | ✅Yes | ✅Yes | Yes |
| 📈 Minimum Trade Size | 0.01 lots | 0.01 lots | 0.01 lots |
| 📉 Maximum Trade Size | Unlimited | 100 lots | None |
| 📊 Minimum Withdrawal Time | Instant | Instant | Instant |
| ⏲️ Maximum Estimated Withdrawal Time | Up to 72 hours | 10 bank days | 2 to 4 working days |
| ⌚ Instant Deposits and Instant Withdrawals | ✅Yes | ✅Yes | ✅Yes |
What trading platforms support MYR accounts?
MetaTrader 4 is commonly supported for Malaysian Ringgit accounts, but availability varies by broker.
Are mobile trading options available with Malaysian Ringgit accounts?
Yes, most brokers that offer MYR accounts also offer mobile trading via platforms such as MetaTrader 4.
Customer Support Quality and Response Times – a Comparison
Exness
Exness is frequently praised for its customer service. The broker usually provides support in multiple languages and is available around the clock. Users frequently praise the staff’s ability to resolve issues quickly and efficiently, particularly in live chat.
| 🔎 Support Channel | ⏰ Average Response Time | ⏱️ User-based Response Time |
| ☎️ Phone | A few minutes | A few minutes |
| 24 hours | Within a few hours | |
| 🔊 Live Chat | 5 minutes | 2 minutes |
| ❤️ Social Media | 5 minutes | 4 minutes |
| 🤝 Affiliate | 24 hours | By the end of the day |
JustMarkets
According to available reviews, the quality of customer support at JustMarkets is mixed. While some traders value the quick response time provided by live chat, others have expressed concern that the broker’s support team may lack in-depth knowledge of complex trading issues.
Because JustMarkets is less well-known, customer service feedback volume is also lower than more prominent brokers.
| 🔎 Support Channel | ⏰ Average Response Time | ⏱️ User-based Response Time |
| ☎️ Phone | A few minutes | A few minutes |
| 1 Working Day | Same-day (during the week) | |
| 🔊 Live Chat | 5 minutes | 5 minutes |
| ❤️ Social Media | 5 minutes | 4 – 7 minutes |
| 🤝 Affiliate | 1 Working Day | Same-day (during the week) |
SuperForex
Although SuperForex provides customer service in multiple languages, feedback on the support quality has been mixed. Some traders appreciate the broker’s quick email and live chat responses, while others are critical of the broker’s depth of support for advanced trading questions.
| 🔎 Support Channel | ⏰ Average Response Time | ⏱️ User-based Response Time |
| ☎️ Phone | A few minutes | A few minutes |
| 1 – 3 Working Days | Same-Day (during the week) – 2 days | |
| 🔊 Live Chat | 5 minutes | 2 – 3 minutes |
| ❤️ Social Media | 1 hour | 30 minutes |
| 🤝 Affiliate | 1 – 3 Working Days | Same-day (during the week) |
Is MYR customer service available in Malaysian languages?
Yes, some brokers provide customer service in Malay or other local languages.
Does JustMarkets operate 24/7?
No, JustMarkets’ customer support is only available during the week.
The Best Forex Brokers in Malaysia
In this article, we have listed the best brokers that offer forex trading to traders in Malaysia. We have further identified the brokers that offer additional services and solutions to Malaysian traders.
Best MetaTrader 4 / MT4 Forex Broker – FXTM
Overall, FXTM is the best MT4 Forex Broker in Malaysia. FXTM offers more than 250 financial products for trading on MetaTrader 4 and other platforms. In addition, FXTM offers Malaysians financing and withdrawal options and local support.
Best MetaTrader 5 / MT5 Forex Broker – HFM
Overall, HFM is the best MetaTrader 5 Forex Broker in Malaysia. HFM has cultivated relationships with numerous industry-leading liquidity providers to provide its traders with competitive pricing.
HFM provides global traders with the option of opening a trading account that is specifically tailored to their needs and objectives.
Best Forex Broker for beginners – AvaTrade
Overall, AvaTrade is the Best Forex Broker for beginners in Malaysia. In addition to a vast array of features, all clients have access to high-quality educational resources, such as webinars, guides, and educational videos, to help them get started in forex trading.
In addition, AvaTrade provides traders with access to a broader selection of products and multiple trading platforms for manual, algorithmic, and social trading by utilizing robust technology.
Best Low Minimum Deposit Forex Broker – FBS
Overall, FBS is the best Low Minimum Deposit Forex Broker in Malaysia. FBS provides a variety of trading accounts with a low minimum deposit of 1 USD.
In addition, FBS has been around for quite some time. Therefore, Malaysian traders can feel secure in the platform’s reliability and benefits (like copy trading on MetaTrader 4 and MetaTrader 5).
Best ECN Forex Broker – FP Markets
Overall, FP Markets is the best ECN Forex Broker in Malaysia. Several liquidity providers, including Barclays and Goldman Sachs, are utilized by FP Markets to offer competitive spreads at reasonable prices. Consequently, Malaysians can anticipate spreads as low as 0 pips and commissions as low as $3.
Best Islamic / Swap-Free Forex Broker – OctaFX
Overall, OctaFX is the best Islamic / Swap-Free Forex Broker in Malaysia. OctaFX is well-known for offering superior trading conditions for Islamic Swap-Free Accounts and STP and ECN transaction execution speeds.
Best Rebates Broker – BDSwiss
Overall, BDSwiss is the Best Rebates Broker in Malaysia. Introducing Brokers of BDSwiss could earn up to $4.20 back on Forex across all account types their clients register. Furthermore, the higher the trading volume of IB clients, the more partners could earn monthly.
Best Forex Trading App – eToro
Overall, eToro is the best Forex trading app in Malaysia. eToro is a multi-asset trading platform that enables investors to locate and trade diverse financial products on multiple markets.
In addition, the eToro app is available for download on iOS and Android devices, allowing Malaysians to trade on the go.
Best Lowest Spread Forex Broker – XM
Overall, XM is the best, lowest-spread Forex Broker in Malaysia. XM’s spreads start from 0.7 pips EUR/USD commission-free, with average trading costs of 7 USD. Furthermore, XM’s spreads are marked up but competitive compared to other brokers.
Best Nasdaq 100 Forex Broker – Axi
Overall, Axi is the best Nasdaq 100 Forex Broker in Malaysia. Axi offers Nasdaq 100 as a CFD on indices, with competitively low spreads, decent leverage, and access to powerful trading platforms, including MT4 and 5.
Best Volatility 75 / VIX 75 Forex Broker – IG
IG is Malaysia’s best Volatility 75 / VIX 75 Forex Broker. IG offers VIX 74 as a CFD on Indices, with competitive spreads and a range of accounts to use. Furthermore, IG offers powerful trading software and guides on how Malaysians can start trading the Volatility index responsibly.
Best NDD Forex Broker – Tickmill
Overall, Tickmill is the best NDD Forex Broker in Malaysia. Tickmill has competitive trading conditions, with spreads from 0.0 pips on its ECN Accounts. Furthermore, Tickmill’s STP Accounts provide Malaysians with the benefit of marked-up spreads with zero commission fees.
Best STP Forex Broker – Forex.com
Overall, FOREX.com is the best STP Forex Broker in Malaysia. The execution scorecard on FOREX.com demonstrates how quickly trades are executed. As a globally renowned broker, FOREX.com also ensures that Malaysians can expect low and competitive trading fees.
Best Sign-up Bonus Broker – Trade Nation
Overall, Trade Nation is the best sign-up bonus Forex Broker in Malaysia. When Malaysians sign up for an account, they receive 1,000 points that can be used to trade markets without incurring any risk.
Moreover, Trade Nation is a reputable broker and trading platform that offers a variety of CFDs for trading.
Why Malaysian Ringgit Accounts are Essential for Local Traders
Having Forex accounts denominated in Malaysian Ringgit (MYR) can provide local traders in Malaysia with numerous benefits, including convenience, cost-efficiency, and risk management.
- ✅ First, a MYR account eliminates the need for currency conversion when making deposits or withdrawals, thereby reducing transaction fees. Currency conversion is frequently accompanied by fees and slightly unfavorable exchange rates, which can reduce a trader’s profits. By maintaining a local currency account, Malaysian traders can avoid these fees and keep more profits.
- ✅ Second, holding an account in MYR provides a natural currency risk hedge. If a trader’s trading accounts are denominated in a foreign currency, currency fluctuations can significantly impact their trading equity. A MYR account insulates traders from the currency risk associated with their deposit currency, providing a more stable trading platform.
- ✅ Thirdly, a local currency account makes accounting and financial planning simpler. Without continuous currency conversions, traders can more easily calculate their profits, losses, and tax liabilities.
- ✅ Local banks and financial institutions are more likely to offer seamless and expedited payment options for accounts denominated in MYR. This can be advantageous for traders who need to quickly deposit funds into their accounts or withdraw profits, as delays in these processes can negatively impact trading opportunities.
Lastly, trading in one’s native currency can be less confusing and stressful psychologically. Without the added layer of currency conversion, traders can more intuitively gauge the size of their trades, manage risks, and calculate potential profits or losses.
Are there any tax implications for trading Forex in MYR?
Yes, forex profits could be considered capital gains and must be reported.
What is the required minimum deposit for a MYR account?
Minimum deposits start from $1 with JustMarkets and SuperForex. However, minimum deposit requirements vary between brokers.
In Conclusion
According to our research, as a Malaysian trader, navigating the Forex market presents challenges and opportunities. While Exness is a reputable platform with numerous benefits, it is worth noting that it does not currently accept Malaysian traders. However, this is far from a barrier, as there are other viable options for those looking to open MYR trading accounts for Forex.
Brokers such as JustMarkets and SuperForex offer Malaysian Ringgit accounts and a variety of services tailored to the needs of novice and seasoned traders.
These platforms become an appealing alternative when combined with the undeniable benefits of trading in one’s home currency. MYR accounts offer numerous advantages, from lower transaction costs to improved risk management. While some may be disappointed that Exness is no longer an option, Malaysian traders still have a healthy range of options to explore.
Finding a Forex broker that offers a MYR account with proper research and due diligence can lead to a more seamless and financially efficient trading experience.
Addendum/Disclosure: No matter how diligently we strive to maintain accuracy, the financial markets are volatile and could shift and change at any given time, even if the information supplied is correct at the time of going live.
Investor Warning: Foreign currency trading on margin is associated with an elevated risk and may not be appropriate for all investors. Before engaging in foreign currency or Contract for Difference (CFD) trading, you must evaluate your investing goals, expertise, appetite for risk, and willingness to be exposed to risk. You should not start investing capital that you cannot afford to lose, because you could incur a loss of part or your entire original investment.
Our Review Methodology: For each of our broker evaluations, we investigate, evaluate, analyze, and compare what we feel to be the most crucial criteria to consider when selecting a broker. This evaluation is comprised of positives, disadvantages, and an overall score based on our findings. We want to assist you in locating the ideal broker for your requirements. Our broker review should not be considered as financial advice and traders are urged to seek professional financial advice before making any investment or trading decisions.
Frequently Asked Questions
What are the best Forex brokers for Malaysian Ringgit accounts?
JustMarkets and SuperForex are two good Forex brokers for Malaysian Ringgit accounts. While Exness is a reputable broker, it does not accept Malaysian traders.
Is Exness available for Malaysians?
No, Exness does not currently accept Malaysian traders.
What are the advantages of having a MYR Forex account?
A MYR Forex account eliminates currency conversion fees and allows Malaysian traders to manage risk better.
Are MYR Forex accounts regulated?
No, not all. The broker determines regulatory status; always check the regulatory credentials of a broker before opening an account.
Can I hedge currency risks with a MYR account?
Yes, a MYR account naturally hedges against currency risks associated with the currency of your deposit.
How can I deposit into a MYR Forex account?
Deposits are usually made via local banks, e-wallets, or wire transfers.
Are MYR demo accounts available?
Many brokers provide demo accounts in various currencies, including Malaysian Ringgit, to allow traders to practice without financial risk.
Do I need to verify my identity to open a MYR Forex account?
Yes, identity verification is generally required to meet regulatory and anti-money laundering requirements.
