We have investigated numerous brokers thoroughly to assist traders in Malaysia in locating the best swap-free accounts. In this extensive review, you will learn about the following:
What is a Swap-Free Account Broker?
The 5 Best Swap-Free Account Brokers in Malaysia
Our Final Thoughts on the 5 Best Swap-Free Account Brokers in Malaysia
Frequently Asked Questions About The Best Swap-Free Account Brokers in Malaysia
- Sandy Coetzee
10 Best Forex Brokers in Malaysia
Rank
Broker
Review
Regulators
Min Deposit
Official Site
What is a Swap-Free Account Broker?
Swap-free brokers are designed for traders who prefer not to pay or receive interest on overnight positions. Known as Islamic accounts, these comply with Sharia law, which prohibits interest accrual. Our detailed examination of swap-free trading in Malaysia shows that Muslim traders and those who wish to avoid interest for personal or financial reasons favor these accounts.
We found that swap-free accounts in Malaysia offer unique features that cater specifically to local traders. These accounts provide the same trading conditions as standard ones, including access to various trading instruments, competitive spreads, and advanced trading platforms. However, they remove overnight swap fees, substituting them with either no charge or a fixed administrative fee, depending on the broker.
In summary, swap-free brokers are integral to the Malaysian trading scene. They offer tailored solutions that align with religious and personal preferences, supported by severe regulatory oversight and dedicated customer service. These accounts provide a viable option for traders in Malaysia to engage in Forex trading without compromising on their ethical or financial principles.
The 5 Best Swap-Free Accounts in Malaysia
After extensive research, we have compiled a list of the 5 best brokers in Malaysia that offer swap-free accounts. We checked each broker’s customer service, trading systems, and regulatory compliance to ensure traders have the best options.
- ☑️HFM – Specialization in Forex and CFD trading.
- ☑️AvaTrade – Best Regulated Forex Broker
- ☑️IC Markets – Competitive raw spreads.
- ☑️Tickmill – Extremely competitive tight spreads
- ☑️FXOpen – Faster execution speeds, tighter spreads
1. HFM
Our investigation into HFM has led us to the conclusion that it is an accommodating and flexible broker, perfect for traders in Malaysia looking for accounts that do not require swaps. By eliminating overnight exchange charges and substituting a minor administrative fee, HFM’s swap-free account complies with Islamic beliefs. Malaysian traders who adhere to Sharia law or who, for whatever reasons, would rather not deal with interest would find this option particularly useful.
Forex, commodities, indices, stocks, cryptocurrency, and bonds are just some trading instruments traders can access with HFM. Brokers can help traders reach their full potential by providing competitive spreads as low as 0 pips and high leverage levels up to 1:2000. For rapid trade execution, HFM offers trading platforms like WebTrader, MetaTrader 4, and MetaTrader 5.
Overall Rating
- 4.5/5
Min Deposit
USD 0
Regulators
FSCA, CySEC, DFSA, FSA, FCA, FSC, CMA
Trading Platform
MT4, MT5, HFM Platform
Crypto
Yes
Total Pairs
50+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
International bodies such as CySEC, FCA, DFSA, FSCA, and FSA ensure a secure trading environment for HFM, even though Malaysian financial institutions do not regulate it. Awards such as “Best Forex Education Provider” and “Best Client Funds Security” are just two of the many that HFM has garnered from the industry, demonstrating its reliability and dedication to providing excellent service.
We discovered that HFM’s swap-free account services are a great candidate for traders in Malaysia because they combine accessibility, flexibility, and adherence to ethical trading norms.
Unique Features
| Feature | Information |
| 📝Regulation | CySEC, FCA, DFSA, CMA, FSCA, FSA, FSA, FSC |
| 📝Regulated by SCM and BNM | No |
| 💵Leverage | Up to 1:2000 |
| 🚀Spreads | From 0.0 pips |
| ✨Overnight Fees | No swap charges, fixed administrative fee |
| 💡Trading Instruments | Forex, Metals, Commodities, Energies, Indices, Shares, Crypto, Bonds |
| ☎️Customer Support | 24/5, multilingual, including Malay |
| 🎖️Trading Platforms | MetaTrader 4, MetaTrader 5, and HFM App |
| 💵Minimum Deposit | None |
| ✨Swap-free Availability | Yes |
| 🚀Sign up | Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Foreign exchange, commodities, indices, stocks, cryptocurrency, and bonds are just some of the many trading instruments at your disposal | Potentially impacting profitability is the possibility of a fixed administrative fee replacing exchange charges |
| HFM offers greater trading freedom for Malaysians with high leverage up to 1:2000 | Some traders in Malaysia might be concerned due to the lack of regulation by Malaysian financial institutions |
| The fact that there are no exchange charges for overnight positions makes it an Islamic product | There is a lack of data on instructional materials developed with Malaysian traders in mind |
| New traders in Malaysia can join at no additional cost | The lack of round-the-clock customer service could pose a problem for traders in Malaysia who require assistance during weekends |
| Powerful trading systems that include MetaTrader 4 and MetaTrader 5 | |
| Enforcement of stringent regulations by CySEC, FCA, DFSA, FSCA, and FSA |
Our Insight
HFM offers Malaysian traders swift execution, tight spreads, and a wide range of tradable assets, including Islamic accounts, catering to diverse trading preferences.
2. AvaTrade
Traders in Malaysia looking for swap-free accounts will find AvaTrade to be an outstanding option. Based on our research, AvaTrade provides an Islamically compliant swap-free account that replaces overnight swap fees with a flat administration fee. If you are a trader who wants to avoid interest because it goes against Sharia law or just because you prefer that way, this account is for you. Spreads as low as 0.9 pips and leverage as high as 1:400 (for Professionals) are just a few of the competitive trading conditions offered by AvaTrade.
Traders in Malaysia can maximize their profits by optimizing their methods with these characteristics. Foreign exchange (Forex), commodities, indices, stocks, cryptocurrency, and options are just a few of the many trading instruments offered by this firm. Trading can be more efficient and pleasant using accessible platforms like AvaTradeGO, MetaTrader 4, and MetaTrader 5, renowned for their user-friendly interfaces and stability.
Overall Rating
- 4.8/5
Min Deposit
USD 100
Regulators
CBI, BVI FSC, ASIC, FSCA, JFSA, FFAJ, ADGM, CySEC, ISA, KNF, and IIROC
Trading Platform
MT4, MT5, Ava Social, AvaTradeGO, AvaOptions, DupliTrade, Zulutrade
Crypto
Yes
Total Pairs
55+
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
For traders in Malaysia who prefer to communicate in their language, AvaTrade provides 24/5 customer support in numerous languages, including Malay. To ensure new traders in Malaysia have access to the broker’s complete suite of services, a good entry point is a 470 MYR ($100) minimum deposit. Even though AvaTrade isn’t overseen by any Malaysian banks, traders in Malaysia looking for a swap-free account that strikes a good balance between ethics and competitive trading conditions can rest assured that it is well-regulated internationally.
Multiple industry awards, including “Best Broker” and “Best Trading Experience,” have gone to AvaTrade, attesting to the firm’s commitment to offering first-rate support and trading environments. These awards further emphasize AvaTrade’s trustworthiness and exceptional quality as a broker for swap-free accounts, which is why we included this broker in our list of the top 5.
Unique Features
| Feature | Information |
| 📝Regulation | CBI, ASIC, FSA, FSCA, ADGM, CySEC, BVI FSC, IIROC, JFSA, FFAJ, ISA, KNF |
| 📝Regulated by SCM and BNM | No |
| 💵Leverage | Up to 1:400 (Pro), 1:30 (Retail) |
| 🚀Spreads | From 0.9 pips |
| ✨Overnight Fees | No swap charges, fixed administrative fee might apply |
| 💡Trading Instruments | Forex, Commodities, Indices, Shares, Crypto, Options, Metals, Bonds, ETFs, CFDs |
| ☎️Customer Support | 24/5, multilingual, including Malay |
| 🎖️Trading Platforms | MetaTrader 4, MetaTrader 5, ZuluTrade, DupliTrade, AvaTradeGO, AvaTrade WebTrader, AvaOptions, AvaSocial |
| 💵Minimum Deposit | 470 MYR ($100) |
| ✨Swap-free Availability | Yes |
| 🚀Sign up | Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Profitability is enhanced for traders in Malaysia with competitive spreads beginning at 0.9 pips | There is a 470 MYR ($100) minimum deposit, which is more than what other brokers might offer |
| Traders in Malaysia have the advantage of various trading techniques that are compatible with the high leverage of up to 1:400 | With potentially affecting cost-effectiveness, a fixed administrative fee might supplant swap charges |
| AvaTrade offers no swap fees for Sharia-compliant Islamic accounts | Not much is known about the promotional trades that are available to swap-free accounts |
| Traders in Malaysia have access to efficient trading systems such as AvaTradeGO, MetaTrader4, and MetaTrader 5 | |
| Extensive support staff are available to traders in Malaysia with options to speak Malay | |
| Strict regulatory structure with the support of various international bodies | |
| AvaTrade provides teaching materials and analytical tools for the market to help Malaysian traders make smart choices |
Our Insight
Tutorials, webinars, and market analysis are just a few tools AvaTrade provides to help traders learn the ropes and become more proficient. The copy trading platform from AvaTrade is an excellent resource for Malaysian traders because of its powerful features and educational support.
3. IC Markets
Based on our research, the multi-award-winning IC Markets is a top broker for swap-free accounts because of their extremely competitive terms. IC Markets offers a swap-free account that aligns with Islamic values by eliminating overnight swap charges and instituting a fixed administrative fee. Because of this, it is a great option for traders in Malaysia seeking interest-free trading solutions.
Some of the benefits traders in Malaysia can enjoy when trading with IC Markets are extremely tight spreads, beginning at 0.0 pips, and a maximum leverage of 1:1000. Traders who have questions outside of typical business hours would appreciate this 24/7 service. Traders in Malaysia can take advantage of IC Markets’ swap-free accounts, which combine low prices, thorough service, and ethical compliance.
Overall Rating
- 4.7/5
Min Deposit
USD 200
Regulators
ASIC, CySEC, FSA, SCB
Trading Platform
MT4, MT5, WebTrader
Crypto
Yes
Total Pairs
61
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
The 940 MYR ($200) minimum deposit is more than what traders might find with some other brokers, but it covers all the premium services and trading conditions offered by IC Markets.
Malaysians trading at IC Markets is risk-free since the platform is subject to stringent oversight from ASIC, CySEC, and the FSA, but not from Malaysian banking institutions. These benefits solidify IC Markets’ position as a leading, trustworthy, and reliable swap-free account provider.
Unique Features
| Feature | Information |
| 📝Regulation | ASIC, CySEC, SCB, FSA |
| 📝Regulated by SCM and BNM | No |
| 💵Leverage | Up to 1:1000 |
| 🚀Spreads | From 0.0 pips |
| ✨Overnight Fees | No swap charges; fixed administrative fees could apply |
| 💡Trading Instruments | Forex, Commodities, Indices, Bonds, Crypto |
| ☎️Customer Support | 24/7, multilingual, including Malay |
| 🎖️Trading Platforms | MetaTrader 4, MetaTrader 5, cTrader, TradingView |
| 💵Minimum Deposit | 940 MYR ($200) |
| ✨Swap-free Availability | Yes |
| 🚀Sign up | Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| IC Markets is ideal for cost-effective trading, with spreads as low as 0.0 pips. | Potentially impacting total costs is the possibility of a fixed administrative fee replacing swap charges |
| Various trading techniques catered to Malaysian traders by offering high leverage up to 1:1000 | A 940 MYR ($200) minimum deposit is required, which could be too high for some traders in Malaysia |
| Extensive support available 24/7 in multiple languages (including Malay) and top-notch trading platforms (MetaTrader4, MetaTrader5, and cTrader) are huge advantages to traders in Malaysia | Few local incentives or promotions are available to traders in Malaysia |
| IC Markets are fully compliant with all applicable ASIC, CySEC, and FSA regulations | The minimum deposit is higher than with other brokers |
| A wealth of trading-related instructional materials and market intelligence are available to traders in Malaysia |
Our Insight
IC Markets offers Malaysians competitive spreads, fast execution, and a wide range of trading instruments, making it a popular choice for traders seeking a reliable broker.
4. Tickmill
We found Tickmill to be an excellent option for traders in Malaysia looking for an account that does not require a swap. Spreads as low as 0.0 pips and leverage as high as 1:1000 are just a few of the market-beating features offered by Tickmill. Traders have plenty of opportunities to explore new markets with instruments that include bonds, indices, commodities, and Forex.
Traders can maximize their trading efficiency using innovative tools and features made available by the MetaTrader 4 and MetaTrader 5 platforms. For traders in Malaysia who would instead get assistance in their language, Tickmill offers customer service in multiple languages, including Malay.
Overall Rating
- 4.5/5
Min Deposit
USD 100
Regulators
CySEC, FCA, FSA, FSCA, Labuan FSA
Trading Platform
MT4, MT5
Crypto
Yes
Total Pairs
62
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
Traders’ peace of mind is vital, and Tickmill delivers it through its regulatory scrutiny by authorities, including the FCA, CySEC, FSCA, and FSA. Trust and security are guaranteed by Tickmill’s stringent international regulation, even though Malaysian financial institutions do not regulate it. Suppose you are a trader in Malaysia seeking a swap-free account. In that case, this broker is a solid pick because it is dedicated to competitive trading conditions, excellent service, and ethical compliance.
Awards like “Best Forex Execution” and “Most Trusted Broker” have shown that Tickmill is dedicated to providing reliable service and is well-respected in the industry. These awards further solidify Tickmill’s standing as a trustworthy broker for swap-free accounts, offering traders in Malaysia a safe and sound trading platform.
Unique Features
| Feature | Information |
| 📝Regulation | FCA, CySEC, FSCA, FSA |
| 📝Regulated by SCM and BNM | No |
| 💵Leverage | Up to 1:1000 |
| 🚀Spreads | From 0.0 pips |
| ✨Overnight Fees | No swap charges, fixed administrative |
| 💡Trading Instruments | Forex, Commodities, Indices, Stocks, Bonds, Crypto |
| ☎️Customer Support | 24/5, multilingual, including Malay |
| 🎖️Trading Platforms | MetaTrader 4, MetaTrader 5, Tickmill Mobile App |
| 💵Minimum Deposit | 470 MYR ($100) |
| ✨Swap-free Availability | Yes |
| 🚀Sign up | Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Tickmill offers traders in Malaysia affordable market conditions with spreads as low as 0.0 pips | The total cost could be affected if an administrative fee is used instead of swap charges |
| With leverage levels up to 1:1000, a wide range of trading strategies is possible | Trading with Tickmill could potentially be problematic for local traders due to the lack of regulation by Malaysian banking institutions |
| Traders in Malaysia are not charged any swap fees for Sharia-compliant Islamic accounts. | Tickmill has inadequate instructional materials aimed squarely at Malaysian traders |
| Tickmill provides very dependable trading platforms, such as MetaTrader 4 and MetaTrader 5, with customer support available in multiple languages, including Malay | One potential drawback for certain traders is the lack of 24/5 customer support |
| The 470 MYR ($100) minimum deposit is low and makes it accessible for Malaysian traders | Compared to other brokers, there is less diversity in promotional offerings |
Our Insight
Tickmill offers Malaysians competitive spreads, fast execution speeds, a wide range of trading instruments, and robust regulation, providing a secure and efficient trading environment.
5. FXOpen
FXOpen is another broker that stands out to us. It provides traders in Malaysia with accessible and competitive swap-free accounts. FXOpen’s swap-free account complies with Islamic principles by eliminating overnight swap charges and substituting a fixed administrative fee. This feature is perfect for some traders who would rather not participate in interest-based trading for ethical or religious reasons.
With a minimum deposit as low as 47 MYR ($10) for some accounts, FXOpen is great for novice traders or those with small starting capital because it is one of the distinguishing advantages. With leverage up to 1:500 and spreads as low as 0.0 pips, FXOpen gives traders in Malaysia a lot of room to maneuver and a cost-effective trading environment. This broker offers many popular trading platforms, including the well-regarded MetaTrader 4, MetaTrader 5, and TickTrader.
Overall Rating
- 4.5/5
Min Deposit
USD 1
Regulators
ASIC, FCA, CySEC
Trading Platform
MT4, MT5, PAMM
Crypto
Yes
Total Pairs
4
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
You can trade confidently knowing that FXOpen is governed by reputable international bodies such as the FCA, ASIC, CySEC, and FSA. The broker’s international regulatory framework provides high security and confidence even if it does not have regulation from Malaysian financial institutions.
For Malaysian traders seeking ethical and cost-effective trading, FXOpen is an excellent option due to its swap-free account offerings, accessible entrance requirements, and competitive trading conditions. FXOpen has won awards like “Best Forex Broker” and “Best Forex Trading Platform” as further evidence of its dedication to offering first-rate service and trading conditions. These awards add to FXOpen’s stellar reputation as a safe and dependable trading platform for traders from Malaysia who prefer swap-free accounts.
Unique Features
| Feature | Information |
| 📝Regulation | FCA, ASIC, CySEC, FSA |
| 📝Regulated by SCM and BNM | No |
| 💵Leverage | Up to 1:500 |
| 🚀Spreads | From 0.0 pips |
| ✨Overnight Fees | No swap charges, but a fixed administrative fee could be expected |
| 💡Trading Instruments | Forex, Commodities, Indices, Crypto, Shares, ETFs |
| ☎️Customer Support | 24/5, multilingual, including Malay |
| 🎖️Trading Platforms | MetaTrader 4, MetaTrader 5, TradingView, TickTrader |
| 💵Minimum Deposit | 47 MYR ($10) |
| ✨Swap-free Availability | Yes |
| 🚀Sign up | Open Account |
Pros and Cons
| ✅ Pros | ❌ Cons |
| Foreign exchange, commodities, indices, stocks, cryptocurrency, and bonds are just some of the many trading instruments at your disposal | Not much is known about promotional trades that target swap-free accounts for traders in Malaysia |
| The fact that there are no exchange charges for overnight positions makes it an Islamic product | A drawback that some Malaysian traders might have is that customer assistance is not available 24/7 |
| New traders in Malaysia can join at no costs | There are few instructional materials developed with Malaysian traders in mind |
| Powerful trading systems that include MetaTrader4 and MetaTrader 5 |
Our Insight
FxOpen offers Malaysians access to fast ECN/STP execution, competitive spreads, a variety of trading instruments, and reliable customer support, providing a transparent and efficient trading experience.
Our Final Thoughts on the 5 Best Swap-free Account Brokers in Malaysia
Our final thoughts on the top swap-free account brokers for traders in Malaysia revolve around three factors: customer assistance, diversity of trading alternatives, and adherence to Islamic standards. A swap-free account is a great option if you’re a trader looking for an ethical way to trade.
Our research shows that administrative fees, rather than swap charges, are the norm for these accounts; these fees can fluctuate and impact total trading costs. All traders in Malaysia, from beginners to seasoned pros, can open an account with one of these platforms because of the variety of trading instruments offered and the low minimum investment required. Even though many brokers comply with strict international standards, the lack of oversight by Malaysian financial authorities can be a detriment in certain situations.
Traders in Malaysia could also find that their experience is negatively affected by the availability of Malay language support, even though the majority of brokers provide extensive training materials and bilingual support. Traders in Malaysia who want to have the best trading experience possible should think about costs, regulations, and support services.
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Frequently Asked Questions
For Islamic traders in Malaysia, swap-free accounts are invaluable since they provide moral trading without paying interest on overnight positions.
The Malaysian government does not oversee swap-free accounts directly, but many brokers that provide them are subject to oversight from respected international organizations. This creates a reliable and safe trading environment for traders in Malaysia.
While there could be administrative costs and no swap charges, other than that, trading conditions like leverage and spreads are pretty much the same as regular accounts. This upholds Islamic principles while ensuring fair trading conditions.
Local bank transfers, e-wallets, and cryptocurrency alternatives are among the many deposit and withdrawal methods brokers offer. Traders in Malaysia can take advantage of brokers’ efficient fund management, quick processing times, and support for their local currency.
Swap-free account holders typically have access to customer care that operates 24/5 or 24/7, and they generally offer service in various languages, including Malay.
This improves the trading experience for traders in Malaysia by ensuring they can access support and help in their preferred language and in a timely manner.
