Best Day Trading Platform in Malaysia in 2020
Which is the best trading platform in Malaysia? Is the best trading platform also best for beginners and day trading?
We have 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 Plus500 has the best trading platform for trading multiple markets. MarketsX and XTB also made the top four trading platforms in Malaysia.
The wonderful news for you as a trader is that all the eleven trading platforms in the list below are completely free. The 11 best trading platforms in Malaysia are:
- AvaTrade Trading Platform, great for day trading.
- Plus500 Trading Platform, great for trading in multiple markets.
- MarketsX Trading Platform, great combination of technical indicators and fundamentals information.
- XTB Trading Platform, trade more than 4,000 tradable assets.
- FXCM Trading Platform, superb demo account trading.
- easyMarkets Trading Platform, great for skilled traders with a nice freeze the price feature.
- Skilling Trading Platform, nice proprietary platform as well as cTrader and MT4.
- OctaFX Trading Platform, offers MetaTrader and cTrader.
- Moneta Markets, offers a visually great trading platform.
- Tickmill Trading Platform, offers superb expert advisor support.
- Forex.com Trading Platform, its advanced platform is great for advanced traders.
Of course, these top eleven 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 eleven 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. 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.
3. MarketsX Trading Platform
The go-to trading platform of MarketsX is a proprietary web trader. Besides being surprisingly powerful charting and analysis-wise, this platform is also available in mobile versions, for Android- as well as iOS-based devices.
Scores of technical indicators are included in the MarketsX package and there is a unique feature called a trading cube too. Real-time news feeds are also delivered for those keen on trading the fundamentals in combination with technical analysis.
MT4 is also part of the MarketsX platform offer. The world’s most popular (and arguably: best) trading platform hardly needs an introduction. It offers superb charting and analysis, with scores of technical indicators pre-installed in the freely downloadable version. Traders are free to add additional indicators and those so inclined, can even code their own.
MT4’s favorite feature is its support for EAs and for EA creation. EAs work best when coupled with a proper VPS service.
4. 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.
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 and ZuluTrade.
6. easyMarkets Trading Platform
EasyMarkets offers a web based trading platform that allows traders to execute deals from just about any online computer in the world with a browser. In addition, the company offers an MT4 trading platform that has its usual extensive support for technical traders.
This platform gives traders access to quote for more than 200+ instruments, including forex, commodities, metals and indexes, all with online access 24/7 and without the need to download and install any software. One click trading is available from the platform’s Market Explorer, which includes advance charting options, news, technical analysis and market sentiment, all on one screen.
The screenshot below illustrates easyMarket’s trading platform that allows traders to execute deals in forex pairs, vanilla currency options, CFDs, commodities, precious metals and indices, as well as perform technical and fundamental analysis functions.
EasyMarkets’ trading platform runs on Internet Explorer’s Version 10 and above, FireFox, version 31 and above, Google Chrome version 31 and higher, Opera version 24 and above, Android version 4.1 and above, Google Chrome for Android version 37, and Safari version 7 and above. Non-supported browsers remain fully functional despite displaying some stylistic elements differently.
EasyMarkets users can unlock a third trading platform: easyTrade. easyTrade can be accessed from the EasyMarkets platform. In the top right corner, there is a Menu button. Hit that and a number of options will roll out, with easyTrade being at the bottom.
In addition to dealCancellation, the broker also offers a unique trading tool called Freeze Rate. This feature lets traders freeze the price they see, thus gaining a few seconds to place their trade. To those skilled enough, such a feature offers a great advantage.
7. Skilling Trading Platform
Platform-wise, the broker supports three radically different options. Of these, its proprietary Skilling Trader is perhaps the most interesting.
Skilling Trader is a web-based platform, the only Skilling platform that features a Demo account. As such, Skilling Trader is accessible at a single mouse-click, provided you have already set up an account with the broker.
The Skilling Trader dashboard consists of a watch list, a charting window, and a section at the bottom tracking your open positions, pending orders, and trading history.
The watch list covers all tradable assets, providing information on them such as the buy/sell prices, the spreads, the current change in price, and the day’s high and low.
The charting window looks and acts like a TradingView app. It offers the same functionalities and if you have ever used TradingView, you will likely not have any problems with it. It is surprisingly powerful. You can maximize it so it takes up the entire screen. The chart supports 10 timeframes, as well as several different chart types and a wide range of drawing tools.
You can use the chart to compare the price evolutions of several assets. Tens of the best-known technical indicators are available through Skilling Trader. All windows are resizable and traders can arrange them any way they want to.
The Skilling cTrader is the broker’s version of the popular premium charting and manual trading platform. It comes with all its best-known and liked features, such as:
- Advanced order types.
- Level II pricing.
- Lighting-fast execution.
- Superb charting tools.
cTrader is available in a browser-based version for all Windows, Mac, and Linux devices. It also comes in the form of an app for iOS and Android mobile devices.
In addition to the mentioned perks, cTrader also offers a wide range of technical indicators, the possibility to display multiple charts, algorithm-based auto-trading, price alerts, trailing stop loss, etc.
MT4 is the cherry on top of the Skilling platform-cake. As the most popular and perhaps most powerful trading platform, it needs no introduction to beginners or experienced traders. It is a fully customizable trading environment that can handle anything the markets may throw at it and users may want from it.
Customization is one of the main strengths of the platform. Users can customize anything on it, from its visual layout to advanced charting options. The platform supports an almost limitless number of plugins.
MT4’s other strength is its EA support, which makes algorithmic auto-trading not just a possibility but a reasonable approach. Traders can import any EA they wish to, and they can even create their own, provided they master the MQL programming language.
Skilling’s MT4 is available in 22 languages. It supports multiple charts, price alerts, and trailing stop losses.
8. OctaFX Trading Platform
OctaFX will greatly please many forex traders since it offers support for the very popular MetaTrader 4 and MetaTrader 5 online trading platforms and their mobile apps. In addition to trade execution and order placement, these platforms offer extensive charting, technical analysis and portfolio management features. They also allow you as a trader to write your own Expert Adviser that can automate dealing activities.
The screenshot shown above illustrates the basic functions of the OctaFX installation of MetaTrader 4, which includes market monitoring, charts and technical analysis, on-screen trade execution, trade history and account management features.
OctaFX also supports the increasingly popular series of desktop and mobile app trading platforms offered by cTrader, which offers interesting features for you that MetaTrader does not offer.
9. Moneta Markets Trading Platform
Interestingly, Moneta Markets have chosen to go the way of the proprietary trading platform. As such, the broker does not support MT4, MT5, cTrader, or any of the mainstream trading platforms.
Its Web Trader is powerful enough, however, to handle everything a trader may want from it. The platform supports a Demo account that gives traders EUR 25,000 in virtual funds to put the capabilities of the platform to the test.
From a visual point of view, the Moneta Markets trading platform is great. It is easy on the eyes and it has all its functions displayed clearly. Some proprietary trading platforms make it difficult for traders to locate technical indicators and drawing tools. Moneta Markets is not one of these platforms.
Moneta Markets’ Web Trader offers great charting. It features an indicator wizard that lends traders the ability to add one of the tens of supported indicators, within a few clicks. There is an option to pop the chart out into a full-screen view. The platform supports nine time frames for charting, from one minute to a month. Six different chart types are also available. The drawing tools are clearly displayed on the left-hand side of the chart.
Traders can view their pending orders list, trading history, and open trades at the bottom of the screen. All these lists offer a plethora of information on the selected positions.
For every supported asset, the Web Trader features an information panel, where it lists all the information pertaining to the trading conditions of that asset. It lists the spread, the spread type, the lot value, the maximum leverage, the min-max volume, the volume step, and various other relevant bits of data.
On the right side of the chart, just under the Buy/Sell options, the platform features a trader sentiment indicator. This bit of artifice offers vital information that may sway the trader one way or the other, before opening a position.
The platform displays the tradable asset selection on the left-hand side of the chart.
While the Moneta Markets Web Trader is a powerful platform indeed, it does have a few shortcomings, mostly stemming from its proprietary nature.
It does not support automated trading, watch lists, and trading tools such as ZuluTrade, or MirrorTrader. It does, however, support trailing stops. The Moneta Markets trading platform is available in mobile versions as well.
10. 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.
By 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.
11. Forex.com Trading Platform
Forex.com features no fewer than 3 trading platforms: an Advanced Platform, a Web Trader and a couple of mobile trading apps for Android and iOS.
The Advanced platform is a very fine trading environment indeed. It is aimed at serious traders, but beginners/recreational traders can use it as well. It offers more than 80 built-in technical indicators, as well as fully customizable dashboards, not to mention trading preferences.
The platform also comes equipped with hundreds of templates one can use to create trading strategies.
The Web Trader is almost as advanced as the above described Advanced platform. It features more than 70 technical indicators and some 50 drawing tools traders can use to make heads and tails of various chart/candlestick patterns. Market analysis is also part of the this package, as is a selection of integrated trading tools.
The mobile trading apps may not be visually as appealing as the above discussed two desktop platforms, but they are powerful in their own right too. They support multiple order types and access to the full range of tradable assets allowed by one’s account type.
Market news are delivered in real time through these platforms too and real time alerts are provided as well.
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?