Best Day Trading Platform in Malaysia in 2021
Which is the best trading platform in Malaysia? Is the best trading platform also best for beginners and day trading?
We have, in October 2020, reviewed a great number of online trading platforms and found the answer in the list below. A few of the best platforms that didn’t make the list were trading platforms from Tradefred, BDSwiss, Nord FX, HotForex, CMC Markets and Saxo Bank. The winner from these reviews: AvaTrade’s trading platform is the best trading platform in Malaysia. AvaTrade is also great for day trading, whereas we would say that BlackBull Markets has the best combination of technical indicators and fundamentals information. TickMill and Plus500 also made the top four trading platforms in Malaysia.
The wonderful news for you as a trader is that all the ten trading platforms in the list below are completely free. The 10 best trading platforms in Malaysia are:
- AvaTrade Trading Platform, great for day trading.
- BlackBull Markets Trading Platform
- TickMill Trading Platform
- Plus500 Trading Platform, great for trading in multiple markets.
- FXCM Trading Platform
- FBS Trading Platform
- Trade Nation Trading Platform
- XTB Trading Platform, trade more than 4,000 tradable assets.
- FXTM Trading Platform, available in 16 languages.
- VT Markets Trading Platform
Of course, these top nine trading platforms are run by brokers that are legal in Malaysia and also accept traders from Malaysia. Furthermore, all of them offer Islamic accounts which will secure that you follow sharia law. However, as always with trading, never invest more than you can afford to lose. Below you can read our more in-depth reviews of the best nine trading platforms in Malaysia.
1. AvaTrade Trading Platform
AvaTrade supports a wide variety of trading platforms. The brokers’ proprietary client-side AvaTrader trading platform works on Windows XP, Vista and 7, and a Macintosh version is also available. Of course, all of them are very easy to download and install directly on your desktop or laptop computer.
The screenshot below shows the extensive functionality of AvaTrader, including technical and fundamental analysis, reports, tutorials and account management features.
Also, the AvaOptions Web platform and the MT4 WebTrader allow you to sign in to your AvaTrade account using any Internet browser without having to install it on your computer. Lastly, the AvaTradeGo app allows you to trade in an AvaTrade account using an iPad, iPhone or Android phone and/or tablet so you can manage and view your AvaTrade trading account while away from home. Read more about the AvaTradeGO app here.
In addition to its own AvaTrader trading platforms, AvaTrade nicely also supports the following trading platforms: Metatrader 4, Metatrader 5. DupliTrader, and ZuluTrade. For those already using MetaTrader, AvaTrade also offers their own version of this popular forex trading software to make your account installation easier.
2. BlackBull Markets Trading Platform
BlackBull Markets offers three trading platforms.
- MT4 is a fully customizable online trading environment most traders know and love. The broker has made it available in a range of versions for Windows, Mac, iOS, and Android.
BlackBull’s version of the platform offers an institutional-grade experience. It supports EAs (Expert Advisors), and together with the VPS service the broker also offers, this sets the stage for profitable algorithmic trading.
Like most of its other features, MT4’s EAs are fully customizable. You do have to be handy with MetaScript, however, if you intend to program your custom EAs.
In addition to EAs and superb charting/technical analysis tools, BlackBull’s MT4 supports multiple order types and analysis tools. Other noteworthy features/functionalities of the platform are enhanced order execution capabilities and a market watch window.
- MT5 is another popular MetaQuotes trading platform, covering slightly different needs than MT4.
MT5’s main strengths are fast order processing, support for advanced pending orders and hedging, as well as a bevy of trading tools and technical indicators.
The version available for download at the BlackBull Markets website comes equipped with more than 30 preinstalled technical indicators, covering more than 20 time frames. The platform also features an integrated economic calendar to help with fundamental analysis.
Traders looking to access MT5 need to talk with the BlackBull Markets support first and obtain permission.
- The BlackBull Markets Web Trader is a simplified version of the MT4 platform. Its trading interface is intuitive, and it offers a great selection of drawing tools and technical indicators.
According to the broker, its Web Trader delivers all the benefits of MT4, in a highly compatible no-download package.
3. TickMill Trading Platform
Some reviewers have derided Tickmill for featuring a single trading platform: MT4.
MT4 is, however, the best and most complete trading platform in existence. It covers all possible needs, and in Tickmill’s case, it offers superb EA support.
The broker has made the platform available in two versions.
A web-based, no-download version.
The full, downloadable version.
Both platforms require the same username/password combination for access. The main advantage of the WebTrader is that it offers quick access, and it is not device-dependent.
Although simpler and more streamlined than the full version, the WebTrader supports the same charting capabilities. It is MT4 through-and-through.
The full MT4 platform features superb compatibility as well. In addition to Windows platforms, it also works well on macOS, Android, and iOS-powered devices. This is the same version you get when you grab Tickmill’s mobile trading app.
MT4 offers a fully customizable trading environment. It supports MQL, the programming language you can use to code your own EAs and technical indicators. You do not have to be an expert to use a wide range of such trading tools. You can also pick them up from third parties and install them on your MT4.
- The broker has synchronized the two platforms both ways. What this means is that if you launch a trade on one, you will see it reflected on the other. This synchronization is instantaneous.
- The mentioned synchronization also translates to your trading history. You can now visualize all of your past trades through both platform versions.
- The WebTrader supports real-time quotes through Market Watch.
- The price charts it features are fully customizable.
- The WebTrader supports a total of nine time frames.
- In regards to technical analysis, the capabilities of the browser-based platform are impressive. It features more than 30 technical indicators.
- The compatibility of the WebTrader platform is superb. It works with all modern browsers.
- The platform securely encrypts all data transmission to and from the server.
Be default, the Tickmill MT4 platform offers more than 50 technical indicators.
- MT4 offers CFDs on a wide range of tradable assets, such as FX pairs, indices, bonds, commodities, and stocks.
- Tickmill’s liquidity pool is outstanding. Thus, you can execute your orders without any partial fills.
- EA support would not be complete without a VPS setup to match it.
- Through MT4’s advanced notification system, Tickmill delivers actionable trading signals.
In addition to what the two trading platform versions jointly deliver, Tickmill also offers its traders an impressive selection of trading tools.
- Preinstalled with the MT4 terminal, Tickmill offers a one-click trading EA. With the help of this expert advisor, you can perform intricate trading maneuvers, with the click of a mouse. Such operations include the placing of Stop Losses and Take Profits, closing positions, and creating new ones.
- AutoChartist is an advanced technical analysis tool, creating trader alerts, and working perfectly with MT4.
- The broker also offers a handful of Forex calculators, such as a currency converter, a margin calculator, and a pip calculator.
- The economic calendar is live on the official Tickmill website. It offers traders the opportunity to perform fundamental analysis and to trade the news.
- Tickmill’s VPS service offers low latencies, uptime guarantee, and quick setup.
4. Plus500 Trading Platform
The trading platforms offered by Plus500 are very simple to operate and seem especially suitable for those interested in dealing in multiple markets. From one single screen, traders can obtain quotes in real-time for any of these asset markets and can execute transactions as well.
The Plus500 trading platform is available in a desktop version called Windows Trader and a web-based version called Web-Trader. In addition, a popular mobile version of the Plus500 platform is available that works on Apple devices like the iPhone, iPad, iPod Touch and Apple Watch. Plus500 apps also exist for mobile devices using the Android and Windows Phone operating systems. Read more about the Plus500 mobile trading app here.
The screenshot shown below displays the functionality of the Plus500 CFD trading platform, which includes trade execution, market pricing overview, a basic chart, position and account balance reports. The platform also has fund management capabilities, which give you as a trader the ability to make deposits and withdrawals from your trading account.
In addition to being able to watch various markets and execute trades, Plus500’s trading platform lets traders easily review past transactions and keep track of current positions. The software also includes a rather basic charting facility with multiple time periods available. Unfortunately, only one chart can be displayed at a time since the system does not support the simultaneous display of multiple charts.
In addition to the functionality provided by offering different versions of the Plus500 trading platform, the broker has also made some nice extra tools available for you as a trader.
One such tool is the Economic Calendar and the platform also offers a Trade Alerts service, as well as a Trader’s Guide.
Nicely there are also several tools available for risk management. Plus500 supports Guaranteed Stops and Trailing Stops, as well as Close at Profit and Close at Loss rates. For your convenience, these tools and their peculiarities are thoroughly explained at the broker’s website.
5. FXCM Trading Platform
The trading platform selection of the broker is superb. It does not feature countless choices. Its two platform options cover all possible needs.
Trading Station is the proprietary web-based platform of the broker that anyone can launch in seconds. The broker offers a superb Demo account, with 50,000 units of virtual money. FXCM considers Trading Station to be its ‘main platform’. Unlike other proprietary trading platforms you might encounter, Trading Station is surprisingly powerful. If features scores of technical indicators, superb charting, and outstanding trading tools, such as Trader Sentiment, Market Depth, and Real Trading Volume indicators.
The platform is fully customizable. Users can add an impressive array of widgets and they can optimize the layout of their trading interface. Trading Station features support for automated trading strategies. In addition to strategy optimization, the platform also offers back-testing for various strategies. Through the Trading Station interface, users can trade directly off the charts. They also have access to technical- as well as fundamental data concerning the asset of their choice.
MT4 is the well-known and liked workhorse of the online FX/CFD trading industry. Charting- and features-wise, MT4 is certainly unbeatable. Those who download FXCM’s version are free to use any trading strategy, like scalping. The broker supports EAs as well as the VPS needed for the proper functioning of the Expert Advisors.
MT4 is also a fully customizable trading environment. Users can download and install it in a few seconds. The broker offers a Demo option for this platform as well.
As far as trading tools go, FXCM is probably one of the top destinations. In addition to access to Trading Central, the broker also offers trading tools such as:
- Social Trading
6. FBS Trading Platform
FBS has based its trading platform offer on MetaQuotes’ popular MT4 and MT5. Both trading platforms are well known among traders worldwide. Although MT5 may seem like the natural evolution of its predecessor, it is a solution focused on different trading needs than MT4. Thus, it complements MT4 and does not supplant it.
FBS’ offer of the two trading platforms covers a wide range of operating systems and mobile devices. MT4 and MT5 are available for Windows, Android, and iOS. For macOS only MT4 is available.
The broker offers a web trader, which is also an MT4 version.
MT4 is the most versatile and powerful platform for online trading. It offers outstanding charting features within a fully customizable trading environment. FBS’ version supports Expert Advisors, giving traders the possibility to automate their profitable trading strategies. The downloadable version of the platform comes with scores of preinstalled technical indicators.
The newest version of MT5 offers improved charting, a great trading interface, and the possibility to manipulate trades at will. The platform supports 21 time frames and eight types of pending orders. An economic calendar is part of the platform as well.
Geared toward day traders and advanced users, some of MT5’s features may be intimidating for beginners.
The tools available to clients are a copy-trader that can copy Micro and Standard Accounts, an ECN Account option for those outside the EEA, as well as a zero-spread account. The FBS website features an economic calendar and a currency converter as well.
7. Trade Nation Trading Platform
Trade Nation’s bespoke trading platform is the embodiment of simplicity. According to the broker, it features everything traders need and nothing they do not.
Signing up for a practice account takes a few seconds. On a computer, the app launches through a browser, presenting a simple, almost barren trading interface.
On the left, there is a section presenting the tradable asset categories. Using the search tool, traders can look for their preferred tradable assets. The main section taking up most of the interface features a wide range of information on the listed assets. Using this interface, traders can gain a quick idea about the price of the asset, the direction of the price change, and the daily lows and highs. Users can open trades and orders directly from this interface.
They can also:
- Check additional information on trading hours, margin requirements, commissions, spreads, market expiry, etc.
- Set trading alerts with just a couple of clicks.
- View charts.
- Create watch lists and add assets to them.
Charting is surprisingly powerful. As traders click on the chart icon of their preferred asset, the platform opens a new window. This window can then be maximized.
The chart supports scores of technical indicators and time frames. An impressive number of drawing tools are also available. Launching trades is possible directly from the charts.
8. XTB Trading Platform
XTB supports two trading platforms (three if we count the mobile app): MT4 and XStation5.
MT4 is a great centerpiece for every online trading operation. It is proven, people love it and it offers superb trading tools. XTB’s version of MT4 is no exception either. It comes with scores of technical indicators and drawing tools. It aids technical trading in several ways. Among its special features are:
- A chart pattern recognition tool. With this tool, you can define Stop-Losses and Take-Profits. You can also set entry- and exit points for your trades, quickly and easily.
- The Strategy Tester is another superb addition. It allows you to back-test your trading strategies and thus to fine-tune them.
- Custom indicators. The platform lets you create and purchase custom indicators. Installing these indicators is really quick and simple for you.
If you are looking to trade at XTB through MT4, you can download the software for free. There is also a free browser-based option available.
The XStation5 is the proprietary trading platform of the broker. It is an award-winning piece of software. XStation5 supports a massive range of tradable assets – more than MT4. It is also easy on the eyes.
The platform offers outstanding execution speeds, scores of drawing tools and a superb selection of technical indicators.
XStation5 is available in a web-based and mobile format. The two versions look similar. The web-based one does not require downloading. It works well with all the major browsers.
To sum it up:
- XStation5 lets you as a trader buy and sell more than 4,000 tradable assets. FX, as well as a wide range of CFDs, are available on a single platform.
- The featured charts are clear. They lend themselves well to technical analysis.
- You can set SLs and TPs directly on the charts. There is a built-in trading calculator, which details potential profits and losses.
- The broker maintains a team of professional traders. This team shares tips and trading signals with users. An Economic Calendar will also help you with fundamental analysis.
- The sentiment indicator offers a glimpse into how your peers trade a given instrument.
Both platforms support real money- as well as Demo accounts.
9. FXTM Trading Platform
In addition to offering the option of using MT4 or MT5 with your FXTM trading account, FXTM offers customers their proprietary FXTM MT4 WebTrader platform. This web based platform requires no download and can be accessed directly from any browser. The WebTrader platform supports all operating systems and has a simple to use interface available translated into 16 different languages.
In addition to one click trading, which allows a trader to make a transaction with a single mouse click, the web platform offers nine chart time frames with trading available directly from the charts. The web platform, which is based on MT4, has all the advanced analysis tools and can be used in both a live account and a demo account.
The screenshot below shows FXTM’s proprietary MT4 WebTrader page with real time market pricing, deal execution, and tools for technical and fundamental analysis.
FXTM now also provides clients with facilities to conduct copy trading on their series of MetaTrader trading platforms. With the copy trading service, FXTM traders can access a wide array of trading signals they can subscribe to. Once subscribed, every trade executed by the signal provider can be automatically copied. With the copy trading service, even novice traders can begin trading like pros.
10. VT Markets Trading Platform
This broker has kept its platform options simple but solid. As mentioned, VTMarkets’ offer is based on the tried-and-proven MT4 platform. The platform is available in WebTrader, full desktop, and mobile versions.
The desktop version is the one that guarantees a full trading experience. MT4, as popular and complex as it is, only takes a few seconds to download on any reasonably fast connection.
VTMarkets’ MT4 is a fully customizable trading environment, which allows traders to adopt any strategy that they wish and automate it through Expert Advisors.
MT4’s charting capabilities are second to none. The platform supports three chart types and up to nine time-frames for proper technical analysis. In VTMarkets’ case, the platform features 70 tradable assets, covering FX pairs, as well as various commodities and indices.
In what other ways does VTMarkets’ MT4 platform stand out?
- It offers superb order execution. The broker uses a proprietary MT4 bridge and high-performance data centers all over the world to facilitate execution speed.
- Through this platform, traders get superb trading conditions. The spreads on the ECN accounts start from 0.0 pips.
- VTMarkets’ MT4 does not impose any restrictions on your trading style.
Perhaps the most appreciated feature of the platform is that it offers free expert advisors and a VPS service to match the generosity of that offer. When using EAs, the speed of execution depends on the network/servers. According to the VTMarkets website, the broker has built a fiber-optic network that connects its servers, to offer optimal execution speeds. While the connection from the client to the server remains a legacy one, the server-to-server fiber-optic network can still hasten execution.
The WebTrader mimics the functionalities of the full desktop MT4, in a browser-based package. The compatibility of the platform is great. It allows users to access it from more than 5 different browsers. And it copes well with the expectations of the modern trader.
It offers great charting, a decent package of technical indicators for analysis, off-the-chart trading, etc.
In addition to the WebTrader, VTMarkets’ MT4 is also available in mobile versions for iOS and Android devices.
As far as trading tools go, in addition to its Expert Advisors, the broker also lists a Forex signal service. Through this service, experts of the broker deliver actionable trading recommendations in an easy-to-read format. The service uses the expertise of signal services such as MetaQuotes, Acceage, and Trading Central.
The broker’s Economic Calendar is a great tool for fundamental analysis. It lists all major upcoming economic events, as well as the impact these events are likely to have on the markets.
Please share all the comments you might have on these online trading platforms in the comment field below. Which is the best trading platform in Malaysia according to you? And would you say that the same platform is also best for beginners?