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Best Brokers With MYR Accounts 2025

Dig into our top brokers offering MYR accounts, based on thorough testing, reducing conversion fees and optimizing the experience for traders in Malaysia.

Author Image Writer
James Barra
Checker Image Fact Checker
Tobias Robinson
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Brokers With:
Malaysian Ringgit (MYR)
Showing top 2 of 2 matching brokers.
  1. 1

    Exness

    flag
    Trust Platform Assets Fees Accounts Research Education Mobile Support 4.6
    Established in 2008, Exness is a respected broker known for offering over 40 account currencies, a wide choice of CFD instruments, and an intuitive web platform with features like currency converters and trading calculators.
    Demo Account
    Yes
    Minimum Deposit
    $10
    Minimum Trade
    0.01 Lots
    Leverage
    1:Unlimited
    Copy Trading
    Yes
    Regulator
    CySEC, FCA, FSCA, CMA, FSA, CBCS, BVIFSC, FSC, JSC
    Instruments
    CFDs, Forex, Stocks, Indices, Commodities, Crypto
    Platforms
    Exness Trade App, Exness Terminal, MT4, MT5, TradingCentral
    Account Currencies
    USD, EUR, GBP, CAD, AUD, NZD, INR, JPY, ZAR, MYR, IDR, DKK, CHF, HKD, SGD, AED, SAR, HUF, BRL, NGN, THB, VND, UAH, KWD, QAR, KRW, MXN, KES, CNY
    Automated Trading
    Expert Advisors (EAs) on MetaTrader
    AI
    No
    Guaranteed Stop Loss
    No
    Go to Exness
  2. 2

    Quotex

    flag
    Trust Platform Assets Fees Accounts Research Education Mobile Support 4.4
    Founded in 2019, Quotex is a binary broker providing over 400 assets like forex, stocks, indices, commodities, and cryptocurrencies. The platform focuses on user-friendly features, offering short-term contracts from 5 seconds to 4 hours, with payouts up to 95%.
    Demo Account
    Yes
    Minimum Deposit
    $10
    Minimum Trade
    $1
    Leverage
    No
    Copy Trading
    No
    Regulator
    No
    Instruments
    Binary Options on Stocks, Indices, Forex, Commodities, Cryptos
    Platforms
    Web Platform
    Account Currencies
    USD, EUR, GBP, INR, JPY, MYR, IDR, RUB, BRL, NGN, THB, VND, UAH
    Automated Trading
    No
    AI
    No
    Guaranteed Stop Loss
    No
    Go to Quotex

Compare Brokers With MYR Accounts

Broker
US Flag
Payment Methods
Exness
Airtel, AstroPay, Bitcoin Payments, Boleto, Cashu, Credit Card, Debit Card, FasaPay, M-Pesa, Mastercard, Neteller, Perfect Money, Skrill, Sticpay, Visa, WebMoney, Wire Transfer
Quotex
Bitcoin Payments, Credit Card, Debit Card, Ethereum Payments, Mastercard, Visa
Broker
US Flag
Payment Methods

Broker Details Comparison

Broker
Demo Account
Minimum Deposit
Minimum Trade
Leverage
Assets
Platforms
Exness ✓ $10 0.01 Lots 1:Unlimited CFDs, Forex, Stocks, Indices, Commodities, Crypto Exness Trade App, Exness Terminal, MT4, MT5, TradingCentral
Quotex ✓ $10 $1 ✗ Binary Options on Stocks, Indices, Forex, Commodities, Cryptos Web Platform
Broker
Demo Account
Minimum Deposit
Minimum Trade
Leverage
Assets
Platforms

Safety Comparison

Compare how safe the Best Brokers With MYR Accounts 2025 are.

Broker
Trust Rating
Guaranteed Stop Loss
Negative Balance Protection
Segregated Accounts
Exness
3.8
 ✗ ✓ ✓
Quotex
1.5
 ✗ ✗ ✓
Broker
Trust Rating
Guaranteed Stop Loss
Negative Balance Protection
Segregated Accounts

Mobile Trading Comparison

Compare the mobile trading features of the Best Brokers With MYR Accounts 2025.

Broker
Mobile Apps
iOS Rating
Android Rating
Smart Watch App
Exness iOS & Android
4.4
4.3
 ✗
Quotex iOS & Android
4.2
3.9
 ✗
Broker
Mobile Apps
iOS Rating
Android Rating
Smart Watch App

Comparison for Beginners

Compare how suitable the Best Brokers With MYR Accounts 2025 are for beginners.

Broker
Demo Account
Minimum Deposit
Minimum Trade
Education Rating
Support Rating
Fractional Shares
Demo Competitions
Exness ✓ $10 0.01 Lots
1.5
3.8
 ✗ ✗
Quotex ✓ $10 $1
3.3
1.5
 ✗ ✗
Broker
Demo Account
Minimum Deposit
Minimum Trade
Education Rating
Support Rating
Fractional Shares
Demo Competitions

Comparison for Advanced Traders

Compare how suitable the Best Brokers With MYR Accounts 2025 are for advanced or professional traders.

Broker
Automated Trading
VPS
API
AI
Pro Account
Leverage
Low Latency
Extended Hours
Exness Expert Advisors (EAs) on MetaTrader ✓ ✗ ✗ ✓ 1:Unlimited ✓ ✗
Quotex ✗ ✗ ✗ ✗ ✗ ✗ ✗ ✗
Broker
Automated Trading
VPS
API
AI
Pro Account
Leverage
Low Latency
Extended Hours

Accounts Comparison

Compare the trading accounts offered by Best Brokers With MYR Accounts 2025.

Broker
Demo Account
Interest on Cash
Islamic Account
Joint Account
Managed Account
PAMM
MAM
LAMM
Pro Account
Exness ✓ ✗ ✓ ✗ ✗ ✗ ✗ ✗ ✓
Quotex ✓ ✗ ✗ ✗ ✗ ✗ ✗ ✗ ✗
Broker
Demo Account
Interest on Cash
Islamic Account
Joint Account
Managed Account
PAMM
MAM
LAMM
Pro Account

Detailed Rating Comparison

Compare how we rated the Best Brokers With MYR Accounts 2025 in key areas.

Broker
Trust
Platforms
Assets
Mobile
Fees
Accounts
Research
Education
Support
Exness
3.8
3.8
3.5
4.4
3.8
4.3
4.3
1.5
3.8
Quotex
1.5
3.5
2.5
4.0
4.0
3.3
1.5
3.3
1.5
Broker
Trust
Platforms
Assets
Mobile
Fees
Accounts
Research
Education
Support

Fee and Cost Comparison

Compare the cost of trading with the Best Brokers With MYR Accounts 2025.

Broker
Cost Rating
Fixed Spreads
Inactivity Fee
CFD Stocks Spread
EUR/USD Spread
Crypto Spread
Exness
3.8
 ✗ $0 0.5 (Apple Inc.) 0.0 Floating
Quotex
4.0
 ✗ $0 ✗ N/A N/A
Broker
Cost Rating
Fixed Spreads
Inactivity Fee
CFD Stocks Spread
EUR/USD Spread
Crypto Spread

Broker Popularity

See how popular the Best Brokers With MYR Accounts 2025 are in terms of number of clients.

Broker Popularity
Exness
800,000

Why Trade With Exness?

Exness is an excellent choice for active forex traders aiming to reduce costs after lowering spreads, enhancing execution speeds, and offering trading on over 100 currency pairs with more than 40 account currencies.
Christian Harris
Review Author

Pros

  • Competitive spreads for USOIL and BTCUSD in 2024 start from 0 pips, with low commissions from $2 per side.
  • Wide variety of account types for all experience levels, including Cent, Pro, and the new Raw Spread, ideal for traders.
  • Exness Terminal provides an easy experience for beginners with interactive charts, and creating watchlists is simple.

Cons

  • Exness has increased its variety of CFDs and introduced a copy trading feature, but it still lacks real assets like ETFs, cryptocurrencies, or bonds.
  • Retail trading services are not available in some areas, such as the US and UK, which limits access compared to leading brokers like Interactive Brokers.
  • Besides a mediocre blog, educational resources are lacking, especially compared to category leaders like IG, which offer a more comprehensive trading journey for new traders.
Go to Exness

Why Trade With Quotex?

Quotex is perfect for binary traders seeking short-term trades on global markets, offering payouts up to 95%. The platform is frequently updated, offers daily trading signals, and is intuitive for new users.
Christian Harris
Review Author

Pros

  • The web platform and app are user-friendly, featuring a clean design and easy order execution based on our tests. They offer multiple indicators and built-in trading signals, suitable for both beginners and experienced traders.
  • Quotex allows trading with a minimum of $10, suitable for beginners and testing the platform with low risk. Withdrawals also start at $10, providing easy fund access.
  • A free demo account with $10,000 in virtual funds allows new traders to practice strategies and test the platform without risking real money. It's a great tool for beginners to gain experience.

Cons

  • Customer service is available only through email and social media, which may result in slow response times. Competitors like Videforex offer 24/7 live chat and phone support, allowing for quicker assistance with technical or withdrawal issues.
  • Quotex is an offshore broker in a jurisdiction with loose regulations. It lacks the investor protection, dispute resolution, and fund security offered by regulated brokers, making it riskier.
  • Quotex has limited market analysis tools and does not provide real-time financial news, economic calendars, or detailed research reports. It also lacks educational resources like courses, webinars, and expert insights, making it less suitable for beginners.
Go to Quotex
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Methodology

To identify the best brokers offering MYR-denominated accounts, we leveraged our continually updated database of online brokers around the world.

Our focus was on platforms that allow clients to deposit, withdraw, and trade directly in Malaysian Ringgit (MYR).

Rankings were determined based on a thorough analysis of over 200 factors, including transaction fees, platform features, access to local and international markets, and regulatory compliance. We also factored in feedback from our hands-on testers.

What Is an MYR Account?

An MYR account is a trading account where all transactions, profits, and losses are recorded in Malaysian Ringgit.

This type of account is particularly beneficial for traders based in Malaysia or those focused on MYR-denominated assets, such as stocks, bonds, or commodities listed in Malaysia.

However, less than 5% of brokers we’ve evaluated offer an MYR trading account.

By trading in MYR, users can avoid unnecessary currency conversion costs and seamlessly operate within the Malaysian financial ecosystem.

Benefits of an MYR account:

  • Avoid Currency Conversion Fees: An MYR account eliminates the need to convert funds into foreign currencies like USD or EUR, saving traders on exchange rate costs when depositing, withdrawing, or trading in MYR-based instruments.
  • Simplified Local Transactions: For Malaysian residents, funding and withdrawing funds via local payment methods like online banking, DuitNow, or credit cards/debit cards in MYR ensures smooth and immediate transactions.
  • Hedging Against Currency Fluctuations: For traders whose income, expenses, or investments are primarily in MYR, an MYR account helps protect against the risks of currency volatility, especially when dealing with international markets.
  • Access to Local Assets: A MYR account makes it easier to trade Malaysian stocks on the Bursa Malaysia, invest in local government bonds, and access MYR-based ETFs and mutual funds without incurring conversion fees.
  • Regulatory Compliance: Brokers offering MYR accounts in Malaysia are more likely to adhere to regulations set by the Securities Commission Malaysia (SC), ensuring that transactions are secure and trustworthy.

How Do I Open an MYR Account?

Opening an MYR trading account is simple and follows these basic steps:

  1. Choose a Broker: Select a broker that offers MYR as a base currency and is regulated by the Securities Commission Malaysia (SC) or another recognized authority. Consider factors like fees, platform features, and trading tools.
  2. Register an Account: Complete the registration process by providing necessary documentation, such as a Malaysian identity card (IC), proof of address (e.g., utility bill), and other relevant details.
  3. Choose MYR as Your Base Currency: During account setup, opt for Malaysian Ringgit as the primary currency to avoid currency conversion fees when funding or withdrawing funds.
  4. Fund Your Account: Deposit funds in MYR using local payment methods like online banking, credit cards, or other locally supported payment options.
  5. Start Trading: Once your account is funded, you can begin trading Malaysian stocks, forex pairs like USD/MYR, and other financial instruments priced in MYR.

Should I Use a MYR Trading Account?

A MYR trading account could be the right choice if you meet any of the following criteria:

  • You Live in Malaysia: If you are a resident of Malaysia, trading in MYR simplifies your finances, reducing the complexity of currency conversion for daily transactions and tax reporting.
  • You Focus on Malaysian Assets: If you invest primarily in Malaysian securities, such as Bursa Malaysia-listed stocks, government bonds, or other MYR-based assets, using an MYR account avoids conversion fees and delays.
  • You Want to Avoid Exchange Rate Risk: If your income, savings, or spending is in MYR, an MYR account helps shield you from the risks of fluctuating exchange rates when trading locally or internationally.
  • You Engage in the Malaysian Economy: For those trading in Malaysian markets or doing business in Malaysia, a MYR account ensures seamless operations, reducing the friction of dealing with foreign currency.

What Are the Limitations of a MYR Account?

  • Exposure to MYR-Related Risks: The Malaysian Ringgit can be volatile, particularly during periods of economic instability, government policy changes, or global market shifts. This can affect the value of holdings when trading internationally or converting MYR into other currencies.
  • Limited Global Access: While MYR accounts are ideal for local trading, they may limit access to international markets or require additional steps for investments in foreign assets, often resulting in higher fees for currency conversion.
  • Conversion Costs for Foreign Assets: If you want to trade assets denominated in currencies like USD or EUR, you may face additional conversion costs when transferring MYR to those currencies.
  • Higher Transaction Fees for International Trades: While MYR accounts benefit domestic traders, international transactions (such as funding or withdrawing from foreign accounts) may incur additional fees and longer processing times.
  • Local Economic Factors: The value of MYR can be significantly impacted by factors such as oil prices (which affect Malaysia’s exports), government monetary policy, and inflation rates. These factors might influence the broader financial environment and impact the returns on investments.

As with any account, the key to success lies in balancing the benefits of local currency convenience with the potential costs of currency conversions and international transactions. For more diversified investors, combining an MYR account with a multi-currency account might offer the best flexibility in the long term.