Compare Top 6 Best Forex Brokers in Macau for 2024

For this guide, our experts reviewed 57+ of the best forex trading apps in Macau to trade forex for beginners.
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Updated on Jun 4, 2024
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Our expert panel tested all the best forex brokers in Macau and rated their features according to 8 key criteria, including regulatory status, the range of currency pairs on offer, and overall trading experience.

The panel set out to answer the question: what’s the best forex trading app in Macau for Macanese users? 

Read our verdict for Macau below to compare the best forex trading platforms.

What is the best forex broker in Macau?

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Our experts rank IG Markets as the best forex broker in Macau.

The list below shows the three best Macanese forex brokers. These are the top forex trading apps in Macau for their security, service, and support.

We found 10 forex brokers for users based in

IG review
4.4
IG Markets
Min. Deposit n/a
Fees Spread only
No. assets 17000+
Demo account Yes

IG review

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

AvaTrade review
4.3
AvaTrade
Min. Deposit $100
Fees From 0.13%
No. assets 500+
Demo account Yes

AvaTrade review

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% 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.
FP Markets review
4.1
FP Markets
Min. Deposit n/a
Fees
No. assets n/a
Demo account No

FP Markets review

CFDs are derivatives and can be risky; losses can exceed your initial payment and you must be able to meet all margin calls as soon as they are made. When trading CFDs you do not own or have any rights to the CFDs underlying assets.

Top 6 online forex brokers Macau, reviewed

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We found 10 forex brokers for users based in

1. IG Markets: Best for trusted and transparent trading

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4
Ratings

$-

Min. deposit

From 0.5%

Fees

17,000

No. assets

Yes

Demo account

Overview

We love IG because it’s one of the most established and reputable names in the online trading industry, known for its reliability, comprehensive offerings, and strong regulatory compliance. In the United States, IG recently changed its name to TastyFX and is focused solely on forex trading. 

TastyFX is America’s fastest growing forex brokerage and as you’d expect from a subsidiary of IG, it offers excellent service with a wide selection of tools and features. Not only will you have access to over 80 forex pairs like EUR/USD, GBP/USD, and USD/JPY, but you’ll also pay $0 commission and have spreads starting from just 0.8 pips. 

What makes TastyFX stand apart from other US brokers is its excellent bonus schedule. After creating an account you can access up to $10,000 in cash bonuses. You cna also earn up to 15% rebate cashback every month. 

The fees: TastyFX has a clear and easy to understand fee schedule. It is a commission free brokerage and only charges a spread. Spreads are variable and generally lower for more liquid currency pairs. Spreads are as low as 0.8 pips for EUR/USD. Forex markets offer up to 50:1 leverage, or 2% margin requirements, on forex pairs like EUR/USD and USD/CAD.

Highlights

Fees & Costs

Pros & Cons

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

2. AvaTrade. Best regulated broker for secure trading

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Avatrade_logo
4
Ratings

$100

Min. deposit

From 0.13%

Fees

500

No. assets

Yes

Demo account

Overview

We love AvaTrade because it is a reliable CFD broker, that gives users access to a wide range of markets. As a CFD broker, AvaTrade lets you speculate on the price movements of various currency markets without owning the underlying assets. AvaTrade is a multi asset brokerage firm and includes CFDs for multiple forex pairs including EUR/USD, GBP/USD, USD/JPY, and more. 

AvaTrade is also highly regarded for its strong regulatory framework and commitment to security. AvaTrade is regulated in multiple jurisdictions, including Europe, Australia, Japan, South Africa, and the British Virgin Islands, which means it must adhere to stringent regulatory standards across the world. 

AvaTrade isn’t just well regulated, it also employs advanced security measures to protect client funds and personal information, including segregated accounts and robust encryption technology. 

The fees: There is no commission on any trading. AvaTrade makes money from the Bid/Ask spread instead. Forex spreads start at 0.7 pips. Positions left overnight are charged a swap fee that varies depending on size. An inactivity fee of £/€/$50 per month is applicable if you don’t log in to your account for three consecutive months.

Highlights

Fees & Costs

Pros & Cons

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% 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.

3. FP Markets. Best for low spread & 0-pip trading

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fp markets logo
4
Ratings

$-

Min. deposit

Fees

No. assets

No

Demo account

Overview

We love FP Markets because it uses cutting-edge technology to ensure all forex trades are executed at lightning fast speed. It’s an award-winning broker and offers over 60 currency markets with spreads starting from zero pips and leverage up to 500:1. 

FP Markets has zero restrictions and allows all trading styles, including scalping and running expert advisors. It integrates with the popular MetaTrader 4 platform and has its own technology-driven charting package. For beginners, FP Markets offers a free copy trading service where you can mirror profitable users’ trades directly in your own account. 

The fees:  FP Markets has two account types with different fees for forex trades. Its standard account has zero commission but has spreads starting from 0.9 pips. Its Raw account gives access to its ECN trading platform and charges $3 per side (per lot) for every forex trade. 

Highlights

Pros & Cons

CFDs are derivatives and can be risky; losses can exceed your initial payment and you must be able to meet all margin calls as soon as they are made. When trading CFDs you do not own or have any rights to the CFDs underlying assets.

4. Pacific Union. Best for social trading & customer support

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pacific union logo
4
Ratings

$-

Min. deposit

Fees

No. assets

No

Demo account

Overview

We love Pacific Union because its beginner friendly platform comes loaded with lots of educational content, including how to guides and video learning. Pacific Union offers over 30 forex pairs, including majors and minors. 

It’s an award-winning broker with a proprietary social trading application that makes it easy for beginners to follow the strategies and positions of the platform’s top traders. Pacific Union uses the popular Metatrader 4 software alongside its mobile and web based apps. Traders can choose the amount of leverage they want to use, all the way up to 500:1.

The fees: There are fees with Pacific Union, but it depends on your account type. Its standard account is commission free, but Bid/Ask spreads start at 1.3 pips. Pro accounts are charged a $3.5 RT per lot commission and have spreads starting from 0 pips. Swap charges for holding a trade overnight vary depending on size.  

Highlights

Pros & Cons

Contracts for Difference (CFDs) trading carries a high level of risk to your capital and can result in losses, you should only trade with money you can afford to lose. CFDs trading may not be suitable for all investors, please ensure that you fully understand the risks involved and take appropriate measures to manage it.

5. Exness. Best for tight spreads and a pro-style trading experience.

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4
Ratings

$10

Min. deposit

From $0.2 per lot

Fees

300

No. assets

Yes

Demo account

Overview

We love Exness because of its tight spreads, which make it a top choice for traders looking to minimize trading costs and maximize profitability. The brokerage offers some of the most competitive spreads in the industry, especially on markets like currencies. Excess offers 100+ forex pairs via CFDs from the majors, minors, and exotics.

Its focus on low trading costs is ideal for both newbies and experienced traders looking to trade with minimal overheads. Exness also stands out for its range of trading terminals. It offers MetaTrader 4, MetaTrader 5, and the Exness web terminal. There’s also a dedicated mobile app meaning you’ll be able to always access your account. 

Beginners can take advantage of a free demo account or micro-lots for low minimum trades, while more experienced traders can use the hundreds of pre built indicators available on the MetaTrader suite. 

The fees: Standard accounts aren’t charged a commission but are charged through the spread. Spreads start from 1 pip on major forex pairs. Overnight fees apply on some assets (exc. swap-free accounts).

Highlights

Fees & Costs

Pros & Cons

Exness does not offer services to residents of certain jurisdictions including the USA, Iran, North Korea and others. The content of the website including translations should not be construed as means for solicitation. Investors make their own and independent decisions. Trading in CFDs and generally leveraged products involves substantial risk of loss and you may lose all of your invested capital.

How we chose the best Macau forex brokers

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Our expert reviews panel is made up of currency traders with years of experience in the forex markets. It includes our Data Analyst, Dan Ashmore, Senior Editor of News, Jayson Derrick, and long-time forex trader, Prash Raval. The panel includes an independent fact checker, Richard Stutely.

Here are the 8 key criteria which the panel used to rate each platform.

  • Regulation with a trusted financial institution. We only recommend forex brokers for beginners that are regulated in Macau and offer top-tier protection to their clients.
  • Low minimum deposit requirements. An accessible forex trading platform in Macau, with a low minimum deposit, scored higher in our rankings.
  • Mobile app availability. Our experts gave preference to the forex brokers in Macau with the best forex trading apps.
  • Number of currency pairs available to trade. We expect Macau forex brokers to offer a comprehensive service where you can trade major, minor, and exotic currency pairs.
  • Amount of leverage on offer. You need leverage to trade forex, so we looked for platforms that offered lots of leverage, within the limitations set by local Macanese regulators.
  • Tight spreads. We sought the best value for the average user. Small spreads mean a lower cost of trading.
  • Lowest commissions and other fees. Our experts don’t like hidden fees and unexpected costs, so brokers with a clear fee structure performed well.
  • Compatibility with trading software. Any Macanese forex broker that offers integration with popular trading software like MetaTrader 4, MT5, or cTrader received a high rating.

More about the best forex trading platforms in Macau

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Which currency pairs can I trade in Macau?

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You can trade major, minor, and exotic pairs when you sign up for the best forex trading platform in Macau. The majors and minors refer to the largest and most popular currencies paired with each other, while the ‘exotics’ are everything else.

  • Major pairs. The major pairs are made up of the US Dollar paired with the other most highly traded currencies. Major pairs include: USD/EUR, USD/GBP, USD/JPY, USD/CHF, USD/AUD, USD/NZD, and USD/CAD.
  • Minor pairs. The minor pairs include at least one of the Euro, British Pound, or Japanese Yen paired with other large currencies, but do not include the US Dollar. 
  • Exotic pairs. Exotic pairs include a major currency ‘crossed’ with a developing currency. There are many exotic pairs but they include things like GBP/HUF, EUR/MXN, and JPY/ZAR.

What forex markets are available in Macau?

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There are two markets that are available with all top forex brokers in Macau. One is the ‘spot’ market, another is the futures market, where you use futures contracts to predict future price movements. Here is some more detail on both options.

  • Spot forex. Trading the spot market means to buy and sell currencies instantaneously at the live market rate. This is the most common way to trade forex in Macau for most people.
  • Forex futures. Futures contracts are an agreement to buy or sell a currency at a fixed price at a set date in the future. Futures require more understanding of the economic factors that impact prices over time. For that reason, they’re generally only used by people with experience of currency trading.

Is MT4 available in Macau?

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Yes, MetaTrader 4 is legal in Macau. When you use MetaTrader software, you have to sign into a brokerage account and any live trade you place goes through a forex trading platform. As long as you can connect to a legal Macanese forex broker, you can use MT4 or MT5. 

What’s the minimum forex trade size in Macau?

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The industry standard is 0.01 ‘lots’, which is equivalent to 1,000 units of the currency you want to trade. This is known as a ‘micro lot’. A ‘lot’ equals 100,000 units of the currency you want to trade.

Can I trade other assets with a forex broker in Macau?

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You can, though it depends on the type of broker you choose. The best cfd brokers in Macau usually offer other financial markets in addition to currency pairs. If you want to trade other assets, such as stocks or cryptocurrency, then you need either the best trading platforms in Macau or the best crypto exchanges in Macau.

How to trade forex in Macau

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1. Sign up to a Macanese forex trading platform

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Use the list of top-ranked brokers at the top of the page to help you.

2. Create an account and deposit money

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Sign up by providing your personal details and a form of photo ID. Transfer funds to the account through a bank transfer, credit or debit card payment, or another payment method, like PayPal.

3. Search for a currency pair and place your trade

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Find the pair by typing the currency code – such as USD for the US Dollar – and choosing it from the list of results. Enter the details and click ‘buy’ to make the trade.

FAQs

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01

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02

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03

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Which is the safest Macanese forex broker?

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What is the best forex trading app in Macau?


Sources & references

James Knight

James Knight

Editor of Education

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James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets. His main focus is on improving financial literacy among casual investors. He has been with Invezz since the start of 2021 and has been...