This Is Why Most Serious Malaysian Traders Stick To The Same Type Of Platforms
While 5 professional traders at KL or Penang could tell you 5 different names of platforms, just peel back the layer of marketing materials and you will find similar specific features. Nobody here is brand loyal. They are simply loyal to the ones who do not cheat them in times of high volatility. 
Fast execution times when the news comes out This is the factor that defines a casually-used platform vs a platform that is actively pursued by traders. In the event of a FED announcement or unexpected BNM interest rate cut, the spreads on most low quality platforms tend to skyrocket to an extent whereby stop losses would no longer serve their purpose. A Johor Bahru based trader whom I befriended had switched platforms 3 times in the past 2 years, chasing this one issue. All his previous attempts, despite the flashy flashy interface and low advertised spreads, had only ended in failure, not till the point in which I helped him finding a platform that had true liquidity depth. MYR deposit convenience without the banker fuss On this little issue there are quite a few people which I feel underrate it. Many traders that fund through Malaysian bank accounts are frustrated that the money conversion fees from the banks will automatically decrease their funding amount before the initial trade. It's important to them, that the platform allow direct transfers via local banks or e-wallets without having to convert into USD first, this will save money by not forcing it through the dollar conversion step. While many people won't talk about it, any trader with failed wire transfer issues in the middle of the night would attest to how undervalued this feature is. Verifiable regulated body There is a significant difference between being "regulated" somewhere on a platform in small prints, and then being directly regulated and being able to pull up a license number on any actual regulatory bodies that matters such as FCA, ASIC, CySEC etc. Many traders in Malaysia who have previously been taken for granted from dubious off-shore traders, have increasingly made this a non-negotiable point. It became a natural instinct in the past year for most prudent traders. User-friendly charting tools that work with the trader While this is somewhat relative but clunky charting interfaces often encourage traders to turn to 3 rd parties such as Tradingview simply so they can read the chart and have proper data presentation without causing any undue stress during the execution of a trade. The one aspect where most winning traders are looking for is a platform whose charting has to be fast and responsive, even on Malaysian cellular data as most forex exchange rate bank negara malaysia Malaysians are mobile traders as opposed to desk based traders, who trade frequently during lunch time or after work. Customer support covering the hours used by Malaysians For now most support teams operate in different time zones making them nearly ineffective to solve critical issues at times like 11 pm at night local Malaysian time when dealing with US session transactions. There is an observable increasing tendency from Malaysians to seek out platforms with customer support that overlap into theGMT+8 time zone, even if it only meant providing live chat.
Fast execution times when the news comes out This is the factor that defines a casually-used platform vs a platform that is actively pursued by traders. In the event of a FED announcement or unexpected BNM interest rate cut, the spreads on most low quality platforms tend to skyrocket to an extent whereby stop losses would no longer serve their purpose. A Johor Bahru based trader whom I befriended had switched platforms 3 times in the past 2 years, chasing this one issue. All his previous attempts, despite the flashy flashy interface and low advertised spreads, had only ended in failure, not till the point in which I helped him finding a platform that had true liquidity depth. MYR deposit convenience without the banker fuss On this little issue there are quite a few people which I feel underrate it. Many traders that fund through Malaysian bank accounts are frustrated that the money conversion fees from the banks will automatically decrease their funding amount before the initial trade. It's important to them, that the platform allow direct transfers via local banks or e-wallets without having to convert into USD first, this will save money by not forcing it through the dollar conversion step. While many people won't talk about it, any trader with failed wire transfer issues in the middle of the night would attest to how undervalued this feature is. Verifiable regulated body There is a significant difference between being "regulated" somewhere on a platform in small prints, and then being directly regulated and being able to pull up a license number on any actual regulatory bodies that matters such as FCA, ASIC, CySEC etc. Many traders in Malaysia who have previously been taken for granted from dubious off-shore traders, have increasingly made this a non-negotiable point. It became a natural instinct in the past year for most prudent traders. User-friendly charting tools that work with the trader While this is somewhat relative but clunky charting interfaces often encourage traders to turn to 3 rd parties such as Tradingview simply so they can read the chart and have proper data presentation without causing any undue stress during the execution of a trade. The one aspect where most winning traders are looking for is a platform whose charting has to be fast and responsive, even on Malaysian cellular data as most forex exchange rate bank negara malaysia Malaysians are mobile traders as opposed to desk based traders, who trade frequently during lunch time or after work. Customer support covering the hours used by Malaysians For now most support teams operate in different time zones making them nearly ineffective to solve critical issues at times like 11 pm at night local Malaysian time when dealing with US session transactions. There is an observable increasing tendency from Malaysians to seek out platforms with customer support that overlap into theGMT+8 time zone, even if it only meant providing live chat.