One of the keys to successful forex trading is selecting the best broker for forex trading to work with. However, this isn’t always an easy task, given the fact that there are literally thousands of forex trade brokers to choose from on the internet.

Rather than allowing you to become overwhelmed with the task of broker selection, here are some key pointers on how to choose the best forex broker in Malaysia.

When evaluating a forex broker, first of all, you’ll need to ensure that the broker is operating within a regulatory framework. Being regulated ensures that the broker operates within acceptable international standards with regard to how they handle your money as well as your personal information. Dealing with a regulated broker also helps to give you the peace of mind to trade, especially in countries like Malaysia, which is frequently targeted with scam schemes, such as the “Macau Scam” scheme.

So, if you’re looking to trade with a regulated and trusted forex broker, consider Forex4you, which is regulated by the FSC in the British Virgin Islands. With this, you can be sure that the broker is operating under the ambits of the Securities and Investment Business Act.

Apart from operating in a regulated environment, top trusted forex brokers must have reliable and proven trading platforms for their clients to trade on, since most of the interaction of a forex trader with the broker will be through the broker’s trading platform. The trading platform provided by the broker must foremost be user-friendly, so that it will enable you to carry out your trading activities with ease. In addition, the trading platform must also be stable and contain all the trading tools that you need to help you make the best trading decisions.

The Platforms

Forex4you offers its clientele the cutting-edge MetaTrader 4 trading platform. This is the most popular trading platform in the forex trading industry today. The MT4 is a proven trading platform adopted by some of the best international forex brokers. Apart from being a stable platform, the MT4 comes with a wide array of trading tools, such as an advanced charting package and a large library of technical indicators. For those who wish to trade on an automated basis, the MT4 trading platform also supports Expert Advisors (EAs). These are programming scripts which will execute the trading decisions of traders within a defined set of trading parameters. Apart from the MT4, Forex4you also offers their clients the Forex4you proprietary trading platform, which is available across a WebTrader, a Desktop platform as well as a mobile-friendly platform for those who wish to trade from their smartphones.

Competitive Trading Conditions

For traders who wish to maximize their profit potential, trading costs must be kept to a minimum. As such, it’s important to ensure that the forex broker that you trade with offers the lowest possible spreads as well as the highest leverage you feel comfortable with. With more competitive spreads, you will be able to keep your trading cost as low as possible. And with a high leveraging ratio, you can also maximize your profit potential with your limited trading capital (although this can also come with heightened risk). Brokers such as Forex4you ensure that their clients’ interests are well looked after by offering competitive spreads as low as 0.1 pip and with leverage as high as 1:2000.

Trade Execution

Another factor to consider when it comes to selecting your broker is to look at how fast your trading decisions can be executed. Under normal trading conditions, your broker must be able to fill your trading orders at the market price displayed or very close to that price when you execute your trading decisions, by clicking “BUY” or “SELL” on the trading platform. The speed at which a trade can be filled is extremely important in the forex market as that few pips difference in price can mean the difference between a win or loss on a trade. As such, look for a broker such as Forex4you which offers near-instant trade execution speeds.

Trading Accounts

Another feature which most top-rated forex brokers have in common is with the trading accounts offered. Because there are different traders with differing levels of trading experience, the types of trading accounts offered are also important. With Forex4you, you get 4 different types of trading accounts to suit differing trading needs. For example, with the Cent account, you can trade with a minimum lot size of 0.01 lot. There is also no minimum deposit requirement, which means you can start trading immediately with a deposit of as low as USD10. This type of trading account is perfectly suited for those who have just started out trading. For Muslim traders who are based in Malaysia, forex brokers like Forex4you also offer Shariah-compliant swap-free accounts. With swap-free accounts, Muslim traders do not have to worry about incurring or earning interest on their trading activities. Lastly, with trading accounts, you must ensure that you can make deposits and withdrawals instantly so as not to keep your money tied with the broker for a long period of time.

Dedicated Customer Support

Finally, ensure that the forex broker you choose can provide you with professional customer support. When problems arise, you must be able to easily get in touch with your broker to resolve them. Normally, you can find brokers to be extremely helpful and understanding during the account opening process, but then lacking proper after-sales customer support. So, look for a trusted forex broker in Malaysia which can provide 24/7 support and has multiple channels of communications such as a toll-free number to call, live chat and email. Another aspect of customer support which most beginner traders neglect to verify is the educational resources provided by the broker. Forex brokers such as Forex4you ensure that as you become more experienced in trading, your trading competence will also grow, given the educational resources they provide.

For those beginner traders based in Malaysia, Forex4you is the best forex broker in the region as we have good customer support to help guide you along your trading career. We also cater to those who wish to trade within the ambits of Shariah principles by providing swap-free accounts. This broker is also customer oriented as it doesn’t require you to make a minimum deposit before you can start trading on their trading platforms. The fact that we have a “Cent”-based trading account shows that no customer is too “small” for them. So, what are you waiting for? Sign up for a trading account with the top forex broker in Malaysia, Forex4you, and start trading forex from home, or on-the-go.

Forex Trading involves significant risk to your invested capital. Please read and ensure you fully understand our Risk Disclosure.