A IBFC Forex broker refers to a forex (Foreign Exchange) brokerage firm which is regulated and authorized by the Malaysian authority called International Business and Financial Centre (IBFC).
The best IBFC regulated Forex brokers in Malaysia, according to our research, are:
- Tickmill
- Roboforex
- Amana Capital
- IFC Markets
- Lirunex
To choose these brokers we have considered several factors, including:
- A regular IBFC-LFSA license;
- Reliability of the broker;
- Commissions charged;
- General quality of the broker.
What are the best IBFC forex brokers?
Below is our curated list and review of the best Forex brokers regulated by the IBFC, with details and information about the regulation, the features, and the characteristics.
Warning
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you can afford to take the high risk of losing your money.
Tickmill
Tickmill Asia Ltd holds regulation from LFSA under license MB/18/0028. Tickmill provides negative balance protection and offers spreads from 0 pips. Tickmill receives awards for its services including Best broker CFDs Asia 2019.
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About Tickmill
Tickmill is a global multi-asset broker founded in 2014, offering trading on forex, CFDs, stocks, indices, commodities, and cryptocurrencies. Tickmill provides MetaTrader 4, MetaTrader 5, and proprietary platforms. Tickmill is regulated by multiple authorities including FCA, CySEC, and FSCA. Tickmill is known for low spreads, fast execution, and extensive educational resources. Tickmill serves over 500,000 clients worldwide. The Tickmill CEO is Sudhanshu Agarwal.
Tickmill Features
The features of Tickmill are listed below.
- Tickmill Asia Ltd (No. MB/18/0028) is regulated by the LFSA (Labuan Financial Services Authority).
- Tickmill has received several awards for its trading services in Asia, including International Business Magazine’s Best broker CFD Asia 2019 and Forex Awards’ Best broker Forex Asia 2019.
- Negative balance protection is available to LFSA Tickmill account holders, ensuring that clients cannot lose more than their original investment.
- Spreads from 0 pips depending on the account.
Tickmill Pros and Cons
Advantages of Tickmill
The advantages of Tickmill are listed below.
- Regulatory Trust
- Competitive Pricing
- Comprehensive Platform Support
Disadvantages of Tickmill
The disadvantages of Tickmill are listed below.
- Limited Asset Variety
- Higher Costs on Classic Account
- Discontinued Features
Roboforex
RoboForex operates with regisration number 210138BI by LFSA. RoboForex offers 100:1 maximum leverage on assets and ensures negative balance protection. RoboForex wins Best Stock Broker Asia 2019.
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About Roboforex
RoboForex is a global forex and CFD broker founded in 2009, offering trading on currencies, stocks, indices, commodities, and cryptocurrencies. RoboForex provides MetaTrader 4, MetaTrader 5, and proprietary platforms. RoboForex is regulated by the Financial Services Commission (FSC) of Belize. RoboForex is known for competitive spreads, extensive educational resources, and multiple account types. RoboForex serves over 4.5 million clients worldwide. The RoboForex CEO is Andrei Dziarnovich.
Roboforex Features
The features of Roboforex are listed below.
- RoboMarkets Asia Ltd is its LFSA registration number (No. 210138BI).
- The broker has won several accolades in Asia, including the Best Stock Broker Asia 2019 award from International Business Magazine.
- Leverage under LFSA is maximum 100:1 on their 9,000+ assets.
- RoboMarkets Asia Ltd also provides negative balance protection.
Roboforex Pros and Cons
Advantages of Roboforex
The advantages of Roboforex are listed below.
- Diverse Trading Platforms
- Wide Range of Instruments
- Low Minimum Deposit
Disadvantages of Roboforex
The disadvantages of Roboforex are listed below.
- Limited Educational Resources
- Higher Spreads on Some Accounts
- Regulatory Concerns
Amana Capital
Amana Capital obtains registration with LFSA under AFS Global Limited MB/18/0025. Amana Capital offers client funds protection insurance up to $1,000,000. Amana Capital offers spreads from 0.4 pips and maximum leverage up to 100:1.
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About Amana Capital
Amana Capital is a global online trading broker established in 2010, offering trading on forex, metals, commodities, indices, cryptocurrencies, and stocks. Amana Capital provides multiple trading platforms and API solutions. Amana Capital is regulated by multiple authorities including CySEC. Amana Capital is known for competitive pricing and advanced technology. Amana Capital serves both retail and institutional clients. Amana Capital has recently undergone significant transformation and expansion. The CEO of Amana Capital is Muhammad Rasoul.
Amana Capital Features
The features of Amana Capital are listed below.
- AFS Global Limited (MB/18/0025) is its LFSA registration number.
- Traders will be covered by a $1,000,000 client funds protection insurance under the LFSA.
- Labuan traders can choose Amana Capital because of low spreads from 0.4 pips on 800+ financial instruments with a maximum leverage up to 100:1.
Amana Capital Pros and Cons
Advantages of Amana Capital
The advantages of Amana Capital are listed below.
- Strong Regulatory Framework
- Negative Balance Protection
- Competitive Trading Fees
Disadvantages of Amana Capital
The disadvantages of Amana Capital are listed below.
- Mixed Customer Feedback
- Limited 24/7 Support
- Higher Spreads on Standard Accounts
IFC Markets
IFC Markets registers with LFSA as IFC Markets Ltd under license MB/20/0049. IFC Markets offers maximum leverage of 1:100 in compliance with LFSA. IFC Markets wins awards such as Best CFD Trading Conditions Southeast Asia 2021.
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About IFC Markets
IFC Markets is a global forex and CFD broker established in 2006. IFC Markets offers trading on over 600 instruments including currencies, stocks, indices, commodities, and cryptocurrencies. IFC Markets provides proprietary platforms like NetTradeX alongside MetaTrader 4 and 5. IFC Markets is regulated by multiple authorities including CySEC and BVI FSC. IFC Markets is known for its unique Portfolio Quoting Method and continuous CFDs. The IFC Markets’ parent organization “International Finance Corporation” CEO is Makhtar Diop.
IFC Markets Features
The features of IFC Markets are listed below.
- IFC Markets is licensed with the LFSA as IFC Markets Ltd (No. MB/20/0049) and registered under No. LL16237 in the Federal Territory of Labuan (Malaysia).
- The broker has won several awards in Asia including the Best CFD Trading Conditions Southeast Asia 2021 from World Economic Magazine and Best Forex Broker Southeast Asia 2020 from International Business Magazine.
- In line with LFSA rules, 1:100 is the maximum leverage offered on the brokers 600+ CFD assets.
IFC Markets Pros and Cons
Advantages of IFC Markets
The advantages of IFC Markets are listed below.
- Unique Trading Instruments
- Comprehensive Educational Resources
- Wide Range of Assets
Disadvantages of IFC Markets
The disadvantages of IFC Markets are listed below.
- High Spreads
- Complex Verification Process
- Limited Regulatory Oversight
Lirunex
Lirunex registers with LFSA as Lirunex Limited and holds license MB/20/0050. Lirunex offers spreads from 0 pips and provides maximum leverage of 100:1. Lirunex receives Traders Awards for Best Broker in Malaysia 2020.
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About Lirunex
Lirunex is a Cyprus-based forex and CFD broker founded in 2017. Lirunex offers trading on various instruments including currencies, commodities, indices, and shares. Lirunex provides MetaTrader 4 as its primary trading platform. Lirunex is regulated by multiple authorities including CySEC, LFSA, and MED. Lirunex focuses on algorithmic trading and retail account management. Lirunex has expanded its services to Southeast Asia and the MENA region. The Lirunex CEO is Jack Foong Kim Weng.
Lirunex Features
The features of Lirunex are listed below.
- Lirunex is registered with the LFSA as Lirunex Limited (No. MB/20/0050).
- The broker has won the Traders Awards for ‘Best Broker in Malaysia 2020’.
- Under the LFSA entity, you will find a maximum leverage of 100:1 on their 70+ assets with spreads from 0 pips depending on the account type.
Lirunex Pros and Cons
Advantages of Lirunex
The advantages of Lirunex are listed below.
- Negative Balance Protection
- Fast Execution
Disadvantages of Lirunex
The disadvantages of Lirunex are listed below.
- Limited to Non-US Traders
- Commission Fees
How does the Labuan FSA work?
The LFSA is in charge of overseeing and regulating trading and investing in financial firms.
They ensure that all firms comply with the regulation’s terms and conditions and whether or not they comply with Malaysia’s strict financial forex laws.
They also promote the island’s business and financial development by establishing policies and rules regulating the Labuan financial markets.
What are the characteristics and prohibitions with LFSA?
Labuan forex brokers must provide a maximum leverage of 1:100, and they must keep an operating office in Labuan. In addition, brokers that want to run Islamic forex services must have a Shariah advisory board with a qualified member that ensures the service is sharia-compliant and complies with Labuan IBFC guidelines on Islamic financial services.
The minimum free cash required of Labuan forex brokers is 500,000 RBM (or equivalent in other currencies). For certain operations and businesses, Labuan IBFC may require additional cash from the broker. Malaysian forex brokers are not permitted to offer or use Malaysian Ringgit from their clients. However, they can use RM to pay administrative and statutory expenses.
How to check if a forex broker is Labuan Licensed
In order to check if a dealer has a Labuan Money License, the process is quite simple:
The first step is visiting the Official Labuan Financial Services Authority website.
Then, you have to search for the Labuan money forex brokers list, which is the complete database of Labuan Licensed forex brokers.
Once you’ve found the list, and found the broker you’re interested in, you can double-check that information with the one you can find on the broker’s website.
How can LFSA intervene in case of financial abuse?
Even though brokers are subject to strict rules, this doesn’t mean they never break some. This rarely happens, but when it does, the LFSA is ready to punish those who break them.
In fact, the Labuan FSA may impose fines, temporary bans, and, for the most serious cases, revoke the license indefinitely.
How LFSA can help you
If for any reason you need to contact the LFSA, whether to ask for information or even to report misconduct by brokers, you can simply use the LFSA Contact Us page.
Within the site, you will find the right information to send an email, the phone number, and even the office address.