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The Central Bank of Malaysia is hopeful for a strong economic recovery this year & believes that the economy will reach pre-COVID levels. The central bank believes that this target will be reached by June-July 2021.
Monetary policy will also remain the same to allow the economy to chart a path for recovery.
The Central Bank of Malaysia also published a GDP forecast for the year 2021. The bank is eyeing GDP growth of 6% - 7.5% during this year. Previously, the bank's projection was in the 6.5%-7.5% range. This shows that the new growth forecast is a downward revision of previous projections.
One may wonder about the accuracy of these projections. However, these growth numbers were published in January when new covid-19 cases were at their peak. We believe that the central bank accounted for worsening conditions due to pandemic in its forecast.
If we look at the daily new cases of COVID-19 in Malaysia, a troubling trend can be seen. After dropping from 4,600 new cases/day to around 1200 cases/day, the infection rate is going up once again. COVID-19 chart of new cases almost resembles a U-shape pattern. A U-shaped pattern recovery is good for the economy but highly dangerous if we are talking about a virus!
Authorities believe that the eventual easing of lockdown measures will see a strong economic rebound in Q2 2021. To reach there, the government is confident that lockdown measures & vaccination programs will help.
During a briefing, Bank's governor shared optimism about economic recovery reaching the levels before the pandemic started by mid of 2021. He continued, saying that strong growth will be seen in investment activity, exports, and private consumption. Mega construction projects such as East Coast Rail Link will be a major source for sustained and fast-paced economic growth.
Nor Shamsiah (Bank governor) said that the Malaysian economic growth would continue in 2022, underpinned by strong global growth. Once mass-scale vaccination is reached, it will help create herd immunity in the population. This will directly translate to more spending in entertainment, travel, and leisure, further increasing recovery speed.
The situation of COVID-19 is still very unpredictable and is a central risk for the economy. In case of an uncontrolled rise in COVID-19 cases, the economy will have to bear the consequences of slow growth or contraction longer than expected.
Since the uncertainty is very high for the future course of the pandemic, the accommodative fiscal policy of Malaysia is expected to stay through 2021 and beyond. Having a loose fiscal policy will ensure continued growth despite the circumstances.
While the central bank is reporting all good in 2021, the stock market doesn't look convinced. In the last 4 months, most of the major Malaysian equity indices dropped lower, resulting in a bearish trend. Obviously, the market is fearing pandemic as well as the volatile political situation. A particular segment of the market, namely 'glove makers,' saw a significant drop in their shares which further fuelled the losses.
Looking forward, any changes in the monetary policy will depend on the economic data. The government's main aim will be to ensure liquidity in various markets such as FX, the money market, and the bond market. A major growth factor that is 'low-interest rate' is also going to stay this year and beyond.
To provide relief to households and businesses, the Prime Minister of Malaysia recently announced a support package. The support package will consist of around $4.8 billion (US dollars), equivalent to 20 billion ringgit (local currency). The bulk of the support package is expected to go towards providing relief in electricity bills, cash payments to the poor, and tax relief.
This is a continuation of the first stimulus package announced in January. The first package was around 15 billion ringgit and was also announced to control the spread & economic damage caused by Covid.
Analysts from Maybank believe that the Malaysian economy contracted by 5.6% during 2020. Such a poor performance was not seen since 1998 as the negative growth even surpassed the government's forecast of -3.5% to -5.5%.
The Governor of the central bank also discussed the forecast for various economic indicators. Some of the other highlights were:
The IMF forecast for the Malaysian economy in 2021 is positive. International Monetary Fund GDP forecast for 2022 is 6.5%. The factors which will contribute heavily towards the economic recovery are construction and manufacturing.
The central government forecast for economic growth is also very close to IMF's forecast. The governor also shared the economic growth to be in the 6% - 7.5% range.
Like every other country, Malaysia is also fighting against the COVID-19 effects on human health and the economy. Despite challenges, strong growth of 5% or higher is very much possible.
We've collected thousands of datapoints and written a guide to help you find the best Malaysia Economic Forecast for you. Our aim is that this information helps you choose a trustworthy, reputable and professional broker who can satisfy your trading needs online. We have compiled a list of what we consider the best Investment Platforms below.
There are a number of important factors to consider when picking an online Investment Platforms trading brokerage.
Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.
We compare these features to make it easier for you to make a more informed choice.
Here are the top Investment Platforms.
Compare Investment Platforms min deposits, regulation, headquarters, benefits, funding methods and fees side by side.
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IC Markets
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Roboforex
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AvaTrade
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XM
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XTB
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Pepperstone
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FP Markets
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Trading212
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NordFX
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Plus500
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EasyMarkets
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Regulation | Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | Cyprus Securities and Exchange Commission (CySEC) | Central Bank of Ireland, Australian Securities and Investments Commission (ASIC), ASIC (406684), Financial Services Authority (FSA), South African Financial Sector Conduct Authority (FSCA), Financial Stability Board (FSB), The Financial Services Agency (JAPAN FSA), Financial Futures Association of Japan (FFAJ), Abu Dhabi Global Markets (ADGM), Financial Regulatory Services Authority (FRSA), Polish Financial Supervision Authority (KNF), Israel Securities Association (ISA), British Virgin Islands Financial Services Commission (BVI), BVI (SIBA/L/13/1049) | Financial Services Commission (FSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG), Dubai Financial Services Authority (DFSA), Dubai International Financial Center (DIFC),Financial Sector Conduct Authority (FSCA), XTB AFRICA (PTY) LTD licensed to operate in South Africa | Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of the Bahamas (SCB) number SIA-F217 | Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), Financial Supervision Commission (FSC) | Cyprus Securities and Exchange Commission (CySEC), License No: 209/13, VFSC registration number 15008 | Plus500UK Ltd authorized & regulated by the FCA (#509909), Plus500CY Ltd authorized & regulated by CySEC (#250/14), Plus500AU Pty Ltd (ACN 153301681), ASIC in Australia AFSL #417727, FMA in New Zealand, FSP #486026 and Authorised Financial Services Provider in South Africa FSP #47546, Plus500SEY Ltd is authorised and regulated by the Seychelles Financial Services Authority (Licence No. SD039), Plus500SG Pte Ltd (UEN 201422211Z) holds a capital markets services license from the Monetary Authority of Singapore (MAS) for dealing in capital markets products (License No. CMS100648-1), PLUS500AU (PTY) LTD is regulated by the FSCA (Financial Sector Conduct Authority), Plus500 adheres to MiFID rules | Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), British Virgin Islands Financial Services Commission (BVI) |
Min Deposit | 200 | 1 | 100 | 5 | No minimum deposit | 200 | 100 | 1 | 1 | 100 | 100 |
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Used By | 180,000+ | 10,000+ | 300,000+ | 3,500,000+ | 250,000+ | 89,000+ | 10,000+ | 15,000,000+ | 10,000+ | 15,500+ | 142,500+ |
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Platforms | MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac | MT4, MT5, Mac, Web Trader, cTrader, Tablet & Mobile apps | Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, DupliTrade, ZuluTrade, Mobile Apps, ZuluTrade, DupliTrade, MQL5 | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | MT4, MT5, TradingView, DupliTrade, myFXbook, Mac, Web Trader, cTrader, Tablet & Mobile apps | MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, MT5, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, MT5, Web Trader, Tablet & Mobile apps |
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Risk Warning | Losses can exceed deposits | Losses can exceed deposits | 71% of retail investor accounts lose money when trading CFDs with this provider | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75.59% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | 74-89 % of retail investor accounts lose money when trading CFDs | Losses can exceed deposits | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | Losses can exceed deposits | 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. | Your capital is at risk |
Demo |
IC Markets Demo |
Roboforex Demo |
AvaTrade Demo |
XM Demo |
XTB Demo |
Pepperstone Demo |
FP Markets Demo |
Trading 212 Demo |
NordFX Demo |
Plus500 Demo |
easyMarkets Demo |
Excluded Countries | AF, GN, SL, BW, IR, SY, MM, IQ, TG, KH, LS, YE, CI , LR, ZW, CU, LY, TZ, CG, ML, BO, LR, NE, AO, GM, NG, AG, GH, KR, KG, GN, SN, NA | US, JP | BE, BR, KP, NZ, TR, US, CA, SG | US, CA, IL, KR, IR, MM, CU, SD, SY | US, IN, PK, BD, NG , ID, BE, AU | AF, AS, AQ, AR, AM, AZ, BY, BE, BZ, BT, BA, BI, CM, CA, CF, TD, CG, CI, ER, GF, PF, GP, GU, GN, GW, GY, HT, VA, IR, IQ, JP, KZ, LB, LR, LY, ML, MQ, YT, MZ, MM, NZ, NI, KP, PS, PR, RE, KN, LC, VC, WS, SO, GS, KR, SS, SD, SR, SY, TJ, TN, TM, TC, US, UY, VU, VG, EH, YE, ZW | US, JP, NZ | US, CA | US, CA, EU, RU, SY, KP, CU | MY, BE, US, CA, CN, ID, PH, TG, NG, DO, MA, ZW, PR, TZ, TN, UG, BW, AO, AE | US, IL, BC, MB, QC, ON, AF, BY, BI, KH, KY, TD, KM, CG, CU, CD, GQ, ER, FJ, GN, GW, HT, IR, IQ, LA, LY, MZ, MM, NI, KP, PW, PA, RU, SO, SS, SD, SY, TT, TM, VU, VE, YE |
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