Upcomers Malaysia Review 2026
Forex Trading Risk — Malaysiai Traders
Upcomers — Most Forex brokers reviewed on this site are offshore platforms not regulated by the SC or BNM. Trading Forex through offshore brokers from Malaysia may be inconsistent with BNM foreign exchange regulations. Retail Forex trading on international brokers carries both financial risk (you can lose your capital) and regulatory risk (potential legal implications under Malaysiai exchange control laws). Consult a financial adviser before depositing funds.
Trading involves high risk. This review reflects my personal testing and is not financial advice.
The Verdict: Is Upcomers Worth Your Time?
Upcomers is a budget-tier prop firm trying to carving out a market among retail traders who want fast onboarding and low-cost starter challenges. If you are a beginner looking to trade a $10K virtual account without spending a fortune, their $85 fee is a reasonable entry cost.
However, if you are a professional specualtor looking for a stable long-term scaling partner, avoid them. Their platform backend is prone to metric sync issues, and their support desk is slow to resolve account transition errors. It is a decent environment for practice trading, but I would not trust them with a high-value funded account.
My First Impressions: The Onboarding & KYC Process
I purchased a $10K challenge for $85. While the initial payment went through quickly via USDT-TRC20, my dashboard credentials failed to generate automatically, forcing me to open a support ticket that took four hours to resolve.
KYC took roughly twenty-four hours to process. I uploaded my MyKad, but the manual verification queue was slow. If you want to start trading immediately, expect delays during their registration rushes.
Here is a meta-observation that only a real user would spot: on the Upcomers dashboard, the account metric graphs fail to render correctly if you access the portal using a browser with dark-mode override extensions (like Dark Reader). It results in a blank widget block that requires disabling the extension to view.
The "Under the Hood" Reality
Trading on their DXtrade platform showed average execution latency of 125ms from Kuala Lumpur. While order entry is stable during normal hours, spreads widen significantly during rollover periods (5:00 AM MYT).
The major flaw lies in the dashboard transition logic. When you pass Phase 1, the dashboard frequently fails to update your status automatically, leaving your account in "evaluation" mode for up to two business days until manual intervention.
Drawdown limits reset at midnight GMT, which translates to 8:00 AM in Malaysia. You must manage your floating positions across this hour to prevent accidental daily breaches.
Fees, Spreads, and Commission Clarity
Upcomers charges average fees that are competitive with lower-tier firms. Commissions are standard at $3 per lot on raw accounts. Let us look at the pricing table:
| Account Size | Evaluation Fee | Profit Target (Phase 1 / 2) | Daily Drawdown Limit |
|---|---|---|---|
| $10,000 | $85 (Approx. RM 400) | 8% / 5% | 5% ($500) |
| $50,000 | $285 (Approx. RM 1,350) | 8% / 5% | 5% ($2,500) |
| $100,000 | $485 (Approx. RM 2,300) | 8% / 5% | 5% ($5,000) |
My Personal Test Performance Log (DXtrade Phase 1):
| Date | Asset | Type | Lots | Result (USD) | Status/Notes |
|---|---|---|---|---|---|
| 2026-06-15 | EUR/USD | Buy | 3.0 | +$180.00 | Standard London open breakout fill |
| 2026-06-16 | GBP/USD | Sell | 2.0 | -$140.00 | Slipped on exit during New York open volatility |
| 2026-06-17 | XAU/USD | Buy | 2.5 | +$270.00 | Exited manually before session rollover |
Regulatory Landscape & Trust in Malaysia
Upcomers is registered in Dubai, UAE, and operates as an unregulated proprietary trading evaluation provider. They hold no regulatory authorizations in Malaysia.
This means you are trading on a simulated platform under a service contract. If a dispute arises over payouts, you have no local legal recourse. To ensure Sharia compliance, selecting the swap-free configuration is a necessity during check-out to avoid Riba.
The "Why I Use It (or Why I Don't)" Section
I use Upcomers occasionally to test new intraday setups where execution speed is not critical. The entry fees are reasonable, but I do not run large-scale swing systems here.
The dashboard sync freezes and slow weekend support responses are frustrating. I prefer using more established platforms for my primary speculative accounts.
Pros & Cons
Pros
- Reasonable starter evaluation fees starting at $85.
- USDT deposit and withdrawal paths function reliably.
- No artificial time constraints on evaluations.
- Swap-free configurations available for Muslim traders.
Cons
- Dashboard transitions suffer from freezes between phases.
- Customer support queue is slow to respond on weekends.
- Daily reset at midnight GMT can cause timezone confusion.
- Offshore unregulated structure leaves you without consumer protection.
Rating Breakdown
Pros
- Low-cost starter evaluations at $85
- On-demand cryptocurrency withdrawal options
- Simple 2-step evaluation rules with no day limits
- Swap-free configurations available for Muslim traders
Cons
- Dashboard suffers from transition freezes between challenge phases
- Relatively new brand with limited industry history
- Withdrawal processing experiences delays during weekends
- Offshore unregulated entity provides no investor protections
Fees & Account Details
| Minimum Deposit | $85 Challenge Fee |
| EUR/USD Spread | Raw (0.3 pips avg) |
| Commission | $3.00 per lot |
| Withdrawal Time | 24-72 Hours |
| Inactivity Fee | None |
| Platforms | MT5 |
| Regulation | Unregulated |
Upcomers for Malaysian Traders
| FPX / DuitNow | ✓ Yes |
| MYR Deposits | ✓ Yes |
| Malay Support | ✗ No |
| MYT Support Hours | ✓ Yes |
| Accepts Malaysian Clients | ✓ Yes |
| SC/BNM Regulated | ✗ No |
| Offshore Only | ✓ Yes |
Sajid
Professional Retail Trader & Malaysia Market Analyst
Trading since 2012
Last updated
Updated June 2026
Singapore-based retail trader since 2012. Specializes in price action, gold liquidity sweeps, swap-free configurations, and exposing broker fee traps.
Forex Trading Risk — Malaysiai Traders
Upcomers — Most Forex brokers reviewed on this site are offshore platforms not regulated by the SC or BNM. Trading Forex through offshore brokers from Malaysia may be inconsistent with BNM foreign exchange regulations. Retail Forex trading on international brokers carries both financial risk (you can lose your capital) and regulatory risk (potential legal implications under Malaysiai exchange control laws). Consult a financial adviser before depositing funds.