Forex for a trader
Bank negara malaysia forex trading

Bank negara malaysia forex tradingTrusted Forex Trading Broker in Malaysia. Malaysian Forex Trading & Brokers in Malaysia. Malaysia is one of the biggest oil manufacturers in Asia. It has expanded and improved its national economy with about 40% for the last few years. And these are the things that happen in economy and financial sphere in Malaysia. Forex world has been popularized here for the last decades, as well, and no matter how many followers it has found, recently it was nothing else, but another form of gambling. Thankfully, things have changed for Malaysia and today anybody of you can make trades, while being in Malaysia and while being based there without facing the jail. We remind you thank you 5 years ago, several people went to jail due to Forex trading in Malaysia. And it is not because of a fraud, but because the country did not want to accept financial trading as a legal activity. Forex trading in Malaysia , if this is your plan. Overview of Malaysia Forex world. Malaysia goes on keeping the liberal Foreign Exchange Administration (FEA) approaches and methods for regulation and official license providing procedures, which are mainly prudential measures to support the overall economy in good condition. The monetary and financial stability are top priorities for the agency, which made it rearrange its drastic measures against both – Malaysian traders and all financial brokers that are listed here. Meanwhile, the National Bank of Malaysia has also made a commitment to ensure that FEA strategies and measures will continue to support and enhance the competitiveness of national economy alongside with the Forex market growth.

Top Forex Trading Broker That Accept Malaysian Traders. The role of Bank Negara in Malaysia Forex sphere. Bank Negara is actually the name behind Malaysian National Bank. It has a giant role for traders and trading online , because it is the official regulator for them in the country. The Bank is willing to keep the Malaysian traders safe about their personal data and money they are investing or win by trading. The Bank has a very strict, but quite working transparency policy for Forex brokers. In the beginning, the experts in the field of UK and Cyprus (the leaders in regulation of Forex trading) believe that such measures can not work in such a sphere as Forex. Though, Bank Negara proved it can handle it. Today, the Malaysian National Bank does handle over 50 different officially registered and quite popular Forex brokers in the country. The Bank is also in charge of the complaints about or from traders, brokers and independent financial institutions that have any connection with financial trading market. Bank Negara Malaysia was set up to provide certainty financial services that would position the whole country to the future growth of the state by 2020. Financial trading on the local currency in the Forex market was considered by this establishment to propel the nation to compete at global markets. Is it illegal to trade in Malaysia after all? Trading in Malaysia is not illegal. It is fully official and conducted with the national laws for financial activity.

After its program for economy growth, Malaysia has provided the opportunity for Bank Negara to operate in this market, as well. Being a developing country, Malaysia aims to permit its residents to trade freely in foreign currency market with official and convenient Forex accounts that should be, though, executed and at first opened only with licensed onshore banks or offshore banks as well as approved and approved International Islamic Banks. It is curious that Malaysia does allow its residual to open a specific Forex account – joint account. The joint account lets several people to group and to trade with them money together. As you can guess, this is the chance for traders to have bigger capital for Forex activity. The main reason for such a policy is the fact that Malaysia is trying to encourage financial trading , but it is harsh yet for doing so as to the so much money on Forex trades. Now, with the joint account it could sound more interesting and profitable. When joining a forex trading broker , on the other side, as a person from another country you may feel some difficulties as to customer support communication or account management. Still, let`s give this country a chance to grow, as we are sure that in a few years local as UK or Canada. Bank negara malaysia forex trading. Still have a question? Ask your own! Hello, dear friend! I am from Malaysia and I trade on the Forex market legally here. You just have to use an Islamic account, that’s all. The rest of work is the same to usual one. Make a deposit, trade, withdraw.

By the way, I can offer a good company that has a regional office in Klang. I work with them for a quite long time and never had any problems. Here is their website . Check it out. Swap-free accounts are presented there as well! Is it possible to trade Forex legally in Malaysia? Yes, there are quite a number of registered forex traders to pick from to trade with. However, it is an offence for anyone to trade other than with an authorised dealer. There are also quite a few gray areas about, but they seem to be ignored. A couple of the banks do have a half hearted forex trading section you could try, RHB being one of them. Bank Negara seems to have no problem trading in currency pairs as long as it’s not Ringits. (Lots of other islamic law about forex trading which I don’t understand and which does not seem to affet things negatively) Just google forex brokers in Malaysia and you should get quite a few come up. Research your business partner trader well before making any choice. Good luck. Sorry my reply is not up to the subject. anyway! Doesn't it seem to you that in case of the opening of the profile and the selection of exchange you need to pay attention to to the principles?

I mean practicing the expertness of exchanging, as well as the development of trading procedures! A very skilled person can create his personal indicators or even trade robots! Anyway, all these rests on one important thing that we all, without exception, have to learn: on the trading platform! You have a chance observe the testimonials or try the most widely used platforms personally. I would recommend to approbate them for free and test by this address: Forex trading is legal in Malaysia, although The Bank Negara Malaysia (BNM), the financial authority in Malaysia, places restrictions. A law states that it is not allowed for any Forex trader in Malaysia to deal in currencies without an authorized broker in Malaysia. Traders living abroad are not subject to this regulation. List of best Forex brokers in Malay. Here you can find a list of global reliable Forex brokers online offering service in Bahasa Malaysia for traders living abroad. Bank negara malaysia forex trading. Illegal Foreign Exchange Trading Scheme.

Illegal Foreign Exchange Trading Scheme refers to the buying or selling of foreign currency by an individual or company in Malaysia with any person who is not a licensed onshore bank or any person who has not obtained the approval of Bank Negara Malaysia under the Financial Services Act 2013 or Islamic Financial Services Act 2013. What are the characteristics? This scheme involves the act of buying or borrowing foreign currencies from or selling or lending foreign currencies to a non-licensed onshore bank. It can also be in the situation where the non-licensed onshore bank does an act that involves, is in association with, or is preparatory to, buying or borrowing foreign currencies from, or selling or lending foreign currencies to, any person outside Malaysia. Illegal operators usually operate on a small scale and claim they can provide remittance services efficiently, without the need for any documents or identification. They rarely use documents to validate and verify the transactions. By engaging in these transactions, customers run the risk of being cheated and their funds may never reach its intended destination. Illegal operators usually target job seekers by placing attractive advertisements to lure prospective employees to join the company, after which they use them to solicit for new investments. Most often, employees will be encouraged to approach their direct family, relatives and friends before targeting members of the public.

Illegal operators usually portray a professional and reputable image , a high-tech office layout and advanced IT facilities, such as a LCD screens displaying movements in exchange rates to provide the impression that a legitimate and real business is being conducted. These facilities are merely a false front. Investors can either trade using their trading accounts with the company or through dealers appointed by the company. In some cases, investors are allowed to operate their accounts via the Internet. Investors are also required to sign a business contract which is normally entered between the investors and a principal company overseas. In most instances, the operators will inform the investors that they will have to send these contracts to its principal company overseas for signing. However, such contracts are usually left unsigned. As such, in the event the investors are unhappy with future dealings and transactions, no action can be taken against the company as there is no binding contract between them. Investors will usually get high returns on their initial investments. This will convince them to increase their investments in hopes of higher returns. Eventually, they will end up losing everything when the illegal operators suddenly go missing .

Investors who lose their money through purported volatility of exchange rate movements are informed by the illegal operators that they need to pay margin-call in order to recover their paper lose. The illegal operators may also encourage investors to increase their investment to try to recover their losses. How to Protect Yourself? Deal only with licensed onshore banks; Check with the relevant authorities before remitting investing depositing; Be extra careful with investments over the internet; Be sceptical of any investment opportunity that is not in writing; and In case an investment has been made, keep copies of all the investment and communications. Licensed onshore banks to conduct foreign currency trading in Malaysia are as follows: You can report directly to Bank Negara Malaysia via the following communication channels: Malaysia Forex Brokers. One of the most beautiful countries and economic centers of south-east Asia witnessed a growth in the capital market just like the western world. Many feel attracted to the potentially lucrative business opportunities available there. Many others, on the other hand, still feel skeptic about untraditional ways of conducting business and are concerned about frauds and scams. This article wants to break prejudices of conservative Malaysians and familiarize them with the business.

Of course, many businesses work under pretences and look for taking your money, but we will explain to you how to find decent companies that are among the best Malaysian Forex brokers. Top Forex brokers Malaysia will offer you fair conditions and fair trade. You just have to know the criteria that need to be met. If you are interested in the Malaysian market, either as a trader or just a market analyst, we have some useful tips for you coming up. The Malaysian Controversy. Currency trading became legal just recently in Malaysia. The Malaysian government started to slowly give in and legalized the trade. Be aware that some parts of Malaysia allow the trade to a certain point and if you cross that legal line you can find yourself at the other side of the law. The best way is to research the laws and regulations that apply to your area of business and start from there. After you analyzed and asked around about the legal boundaries, you can move to selecting a fine Malaysian Forex broker to enter the market. The Authority on Malaysian Brokers. As we already stated, the Malaysian Forex broker market might have some unresolved issues, but still the authorities make an effort to implement a steady regulation, and they are committed to the task.

The Central Bank “Negara Malaysia” is in charge of the national currency – the Malaysian Ringgit. The government discussed at great length trading of the national currency and the currency exchange in the past. By now, the Malaysian government permitted Forex trading in their country, and the regulation was left to the Securities Commission in Malaysia under the purview of the Central Bank. Their scope of responsibilities includes exchange of traded products, Forex exchange, and overall broker operation in the country. Nevertheless, the regulation is still not quite clear, given its recent creation date. The bank issues licenses for brokers and protects the investments and personal data of traders. Brokers work under very strict conditions which made experts from the UK and Cyprus believe that Forex trade is impossible in such an environment. However, the bank proved them wrong. The bank controls over 50 Forex brokers Malaysia which are quite successful. The Bank handles anything that has to do with the financial trading market like complaints from traders, brokers, or financial agencies. After all this confusion, let us clearly state that Forex trading is legal in Malaysia. It works under national financial laws.

As a developing country, Malaysia permits its residents to trade in foreign currencies with registered Forex accounts that should be opened with licensed onshore and offshore banks, as well as with International Islamic Banks. The Central Bank came up with innovation in the business that is not that usual in the Western world. Residents can open a joint account. This means that two or more people are allowed to trade with their money together. In that way, they can enlarge their capital in the Forex market. This move of the Central Bank tries to encourage Malaysians to enter the business since they are now hesitant due to legal-illegal ups and downs, and they are not familiar enough with the market. The majority is also not that wealthy to have the extra money to invest, but by joint forces, they can manage to play in the Forex league. You can join the Malaysia Forex brokers as a foreigner, too. Take the chance to be one of the pioneers in the Malaysian market given that Malaysia is predicted to become very successful in global Forex trading in a few years. What is Forex exactly and what do best Malaysian Forex brokers offer. As we identified the responsible institution behind the Forex trading market that grants you legal protection and security we can move onto explaining the business in general. The Forex trading market is a major player in the global economy with a turnover of billions of dollars on a daily basis. The amount of money speaks for itself, and that is the largest indicator of the market’s success.

Trading in currencies can be defined as sophisticated gambling and is, therefore, attractive and profitable but also risky. As a newcomer, you should be aware that risk is always a part of the game. Study the market for a while before you invest real money. The Malaysia Forex brokers, just like other fine brokers, offer, first of all, a demo account for practice. A demo account grants you virtual money to invest and to test the grounds without any risk of losing real money. After you had familiarized yourself with the account, the interface, and how trading works, a reliable Forex broker Malaysia should offer you a standard professional account with more options. If you want the best Malaysian Forex brokers, look for the ones who offer various platforms since the software platform will be your primary tool in the business. The platform should display all available currency pairs and a chart with trend movements (the movement of pips in the market, indicating if the value of the currency goes up or down). The amazing thing in this business is that you can do business around the clock on weekdays. It is a dynamic environment that changes every second and that is the charm of the business. Like many others, best Malaysian Forex brokers offer the Stop Loss option for your account. The option will appear as soon as you make an investment. The Stop Loss is especially beneficial for beginners who are still inexperienced to handle their finances without help. The Stop Loss offers you to put a limit on your investments and at what point to take the profit without incurring further losses.

You can set the option manually so it automatically sells if things start to go south. Forex Terminology: Leverages and Spreads. In the currency trade, spread refers to the difference between two currencies. For example 1EUR equals 4.558 MYR. The spread would refer to the difference of 3.558. The Malaysian top brokers offer narrow spreads, i. e. 0.3. This is something you should look for as a beginner. The above-mentioned spread would be a little bit too high for a beginner and increases the risk of loss. Trade in currencies that are closer in value to each other. Those pairs are the most traded in the world. Leverage is the amount of money you can borrow in proportion to the money you invested. Malaysian brokers offer leverages that range from 1:50 to 1:500. This means that for every dollar invested you can get $50 to $100 depending on the leverage your broker offers. Leverage policy is a regular tool for operation in the business, but it does not diminish the risk of debt. Leverages are to be handled carefully. Ideally, ask someone more experienced on that matter. The deposit requirements vary among the best Malaysian Forex brokers. Deposits can range from $1 to $1,000 or more, again depending on the broker you choose.

As a newbie, you will probably have a lot of questions and concerns. Forex brokers Malaysia should have a customer support system if they operate under regular standards. The customer support should help you with your issues and give you guidelines for your actions. Make sure that your Malaysia Forex broker has well-prepared and friendly staff. All the above stated also applies to the experienced and professionals. In addition, you can look for brokers that offer wider spreads in their currency pairs, a larger currency pair variety, and if you are a real pro, a VIP account to really fit your needs. We hope that this was helpful for all those who are interested in the Malaysian market. Traders are advised to be cautious with brokerage companies and should always look for registered, official, and widely-recognized brokers in Malaysia, who are under the strict control of national authorities, and hence can be trusted. Malaysian Forex Trading & Brokers in Malaysia. Malaysia is one of the biggest oil manufacturers in Asia. It has expanded and improved its national economy with about 40% for the last few years. And these are not all the new things that happen in economy and financial sphere in Malaysia. Forex world has been popularized here for the last decades, as well, and no matter how many followers it has found, recently it was nothing else, but another form of gambling.

Thankfully, things have changed for Malaysia and today anybody of you can make trades, while being in Malaysia and while being based there without facing the jail. We remind you thank only 5 years ago, several people went to jail due to Forex trading in Malaysia. And it wasn’t because of a fraud, but because the country did not want to accept financial trading as a legal activity. Today it is and here are all the things you need to know about Forex trading in Malaysia, if this is your plan. Overview of Malaysia Forex world. Malaysia goes on keeping the liberal Foreign Exchange Administration (FEA) approaches and methods for regulation and official license providing procedures, which are mainly prudential measures to support the overall economy in good condition. The monetary and financial stability are top priorities for the agency, which made it rearrange its drastic measures against both – Malaysian traders and all financial brokers that are listed here. Meanwhile, the National Bank of Malaysia has also made a commitment to ensure that FEA strategies and measures will continue to support and enhance the competitiveness of national economy alongside with the Forex market growth. First-Class Forex Brokers In Malaysia 2018. The role of Bank Negara in Malaysia Forex sphere. Bank Negara is actually the name behind Malaysian National Bank. It has a giant role for traders and trading websites, because it is the official regulator for them in the country. The Bank is responsible to provide official licenses for the brokers and to keep the Malaysian traders safe regarding their personal data and money they invest or win by trading. The Bank has a very strict, but quite working transparency policy for Forex brokers.

In the beginning, experts in the field from UK and Cyprus (the leaders in regulation of Forex trading) believed that such measures cannot work in such a sphere as Forex. Though, Bank Negara proved it can handle it. Today, the Malaysian National Bank does handle over 50 different officially registered and quite popular Forex brokers in the country. The Bank is also in charge for all the complaints about or from traders, brokers and independent financial agencies that have any connection with financial trading market. Bank Negara Malaysia was set up to provide certain financial services that would position the whole country to future growth with the purpose to turn into a really recognized developed country by the year 2020. Financial trading on the local currency in the Forex market was considered by this establishment to propel the nation to compete at the global markets. Is it illegal to trade in Malaysia after all? Trading in Malaysia is not illegal. It is fully official and conducted with the national laws for financial activity. After its program for economy growth, Malaysia has provided the opportunity for Bank Negara to operate in this market, as well. Being a developing country, Malaysia aims to permit its residents to trade freely in the foreign currency market with official and convenient Forex accounts that should be, though, executed and at first opened only with licensed onshore banks or offshore banks as well as identified and approved International Islamic Banks. It is curious that Malaysia does allow its residents to open a specific Forex account – joint account. The joint account lets several people to group and to trade with their money together. As you can guess, this provides the chance for the traders to have bigger capital for Forex activity. The main reason for such a policy is the fact that Malaysia is trying to encourage financial trading, but it is harsh yet for doing so since the citizens here are neither so familiar, nor so rich to spend so much money on online Forex trades.

Now, with the joint account it could sound more interesting and profitable. When joining a Malaysian broker, on the other side, as a person from another country you might be feeling some difficulties as to customer support communication or account management. Still, let`s give this country a chance to grow, because we are sure that in few years local Forex world will modernize and become as interactive and convenient as it is now in leading financial trading countries like UK or Canada. US Search Mobile Web. Welcome to the Yahoo Search forum! We’d love to hear your ideas on how to improve Yahoo Search . The Yahoo product feedback forum now requires a valid Yahoo ID and password to participate. You are now required to sign-in using your Yahoo email account in order to provide us with feedback and to submit votes and comments to existing ideas. If you do not have a Yahoo ID or the password to your Yahoo ID, please sign-up for a new account. If you have a valid Yahoo ID and password, follow these steps if you would like to remove your posts, comments, votes, andor profile from the Yahoo product feedback forum. Tag: Bank Negara Malaysia.

FXPRIMUS Bank Negara. Forex trading is perfectly legal in western countries such as United States, Canada, United Kingdom and Australia. In the UK, forex trading is regulated by the Financial Services Authority (FSA). An example of forex brokers regulated under FSA are FXCM Continue Reading. The Story of FXPRIMUS: How it All Began. FXPRIMUS was formed in 2009, a time when initial client deposits were very high and forex scams abound. Forex trading for retail clients was heading downwards due to numerous complaints from clients and unscrupulous forex brokers. In short, the forex Continue Reading. What People Say About FXPRIMUS. "I've been trading with several brokers so far but I must admit that FXPRIMUS is the best of them." Thomas, Idar-Oberstein, Germany. "I'm glad FXPRIMUS give me the surety that my account is safe with them." fxjuanit, manila, Philippines. "These guys really doing good job.. So rar no any problem arrise with their service." iditot trader, melbourne, Australia.

"Withdraw money supper fast :D, good broker. " Gartley, Ha Noi, Viet Nam. Bank negara malaysia forex trading. is forex legal in malaysia. To my knowledge in bank negara regulations forex trading in malaysia is illegeal. However i've been approached by introducer brokers who claim that it is legal as long as you put your money overseas. To my knowledge in bank negara regulations forex trading in malaysia is illegeal. However i've been approached by introducer brokers who claim that it is legal as long as you put your money overseas. It's illegal. However if income tax people come knocking, show them proof (letter from your broker) where you get your money and they will leave you alone. Most likely That person is going to ask you to join network xxx which invest in Forex. If that's the case, run the opposite direction as it is most likely a scam. dont trade in malaysia , go to singapore. To my knowledge in bank negara regulations forex trading in malaysia is illegeal. However i've been approached by introducer brokers who claim that it is legal as long as you put your money overseas. Have u heard any forex trader being prosecuted or jailed for forex trading on his own? Why they selling forex trading books at the bookstores.

if its illegal? isnt forex broker agent has a license to do it? btw does you tt from your own local to from foreign account consider forex? isnt forex broker agent has a license to do it? btw does you tt from your own local to from foreign account consider forex? If a forex broker claimed doing forex operation in Malaysia, then the broker needs to have BNM license, as simple as that. We have list of approved financial institutionbanks that can operate forex activities. While there is reason, why you see those money changer out there, always put up signboard "licensed money changer". Because you cannot do forex activities without BNM license. All the list are available in the BNM website, which one can easily look upon. If a forex broker claimed doing forex operation in Malaysia, then the broker needs to have BNM license, as simple as that. We have list of approved financial institutionbanks that can operate forex activities. While there is reason, why you see those money changer out there, always put up signboard "licensed money changer". Because you cannot do forex activities without BNM license. All the list are available in the BNM website, which one can easily look upon. How can you transfer RM to a foreign account.

While foreign money transfer (eg. converted to USD then TT out) then it is subjected to BNM's foreign money transfer regulation. How can you transfer RM to a foreign account. While foreign money transfer (eg. converted to USD then TT out) then it is subjected to BNM's foreign money transfer regulation. lemme give a example. you got a local bank account. you transfer money to sg bank account via TT. you earn the exchange rates. something like that. it is both your account btw. lemme give a example. you got a local bank account. you transfer money to sg bank account via TT. you earn the exchange rates. something like that. it is both your account btw. The SG bank account may not accept the money in RM. You need to change to SGD or USD or whatever first locally before TT. which means need atleast go thru licensed money changer. You can trade no issues.

it's just an instrument, eg stock . there are of course scammer cashing on forex to cheat people and of course there are bad brokers. not sure about legal forex group..don't think there are legal forex group. This post has been edited by ninjawin : Mar 9 2016, 11:27 PM. Here a disclaimer. Gotta becareful..i guess if there are no "FX" in the transaction details then it's safe. This post has been edited by ninjawin : Mar 10 2016, 12:17 AM. So far my TT no issue. . no guessing work can or can not. i have done it already. If still worried. just use credit card to fund the account. easy! This post has been edited by cmk96 : Mar 14 2016, 01:49 PM. To my knowledge in bank negara regulations forex trading in malaysia is illegeal.

However i've been approached by introducer brokers who claim that it is legal as long as you put your money overseas. forex trading in malaysia is not illegal, however it is only applicable to banks and licensed money changer. however, another type of forex 'trading' which is the speculation on forex is illegal in malaysia. therefore you can not see any FOREX broker in malaysia like what u see in aus or singapore where everyday we can trade or gamble those that you are seeing in malaysia are all operate overseas, they are agent of these overseas operated website. just like online gambling, its illegal in malaysia but they have agents or ad in malaysia to 'introduce' you these online gambling website. This post has been edited by klthor : Mar 10 2016, 05:38 PM. Forex Trading In Malaysia | Maklumat Penting! by forexmy_admin · Published February 13, 2015 · Updated December 28, 2016. This website will reveal to you how to trade forex in Malaysia and live like a king from now on. All your friends are talking about it. You hear stories of their friends making thousands and you’re sitting there wondering ‘When am I going to get off my bum and do the same?’ which I’m sure led you here. There’s a lot of issues nowadays regarding forex trading in Malaysia. Forex Trading In Malaysia. First up, is Forex Trading legal in Malaysia ? This question pops out at all forex discussions I’m sure and it worries you. I was worried too before, to be honest.

Bank Negara Malaysia has clarified that the buying and selling of foreign currency in Malaysia is only allowed with licensed commercial banks, Islamic banks, investment banks and international Islamic banks as provided for under the Exchange Control Act 1953. When Bank Negara mentions “foreign currency” only (as opposed to foreign currency assets), they usually mean foreign currency CASH. NOT the balance in your bank account, which, if you really think about it, is JUST A NUMBER. Do note that BNM mentions “illegal investments”. Which means that “LEGAL investments” are okay. “Under the Exchange Control Act 1953 (ECA), it is an offence for a person in Malaysia to buy or sell foreign currency or do any act which involves, is in association with, or is preparatory to, buying or selling of foreign currency with any person, other than an authorised dealer. It is also an offence for a person to aid or abet another person to buy or sell foreign currency with any person, unless the person is an authorised dealer.” W hich means I CAN sell my ringgit asset to USD with any authorised dealer (i. e. any Malaysian bank) and invest my new USD asset as per ECM9. The first part of the last paragraph refers to buyingselling foreign currency against the RINGGIT. How I invest my new USD asset afterwards will be my own affair and I won’t cry about margin calls because I should always be financially solvent every time and as long as I’m strict with my stops. Some of the examples of dangers given in BNM’s last press release are true, however. Some disreputable training programmes do use hard-ball tactics to entice unready and unprepared investorstraders. I also get the impression that some programmes are merely “introducing brokers” for fly-by-night FX brokers, which is why there is a need to do proper research as to which brokers are (relatively) tightly monitored by the offshore countries’ monetary authorities… which basically rules out a lot of US brokers, and many Russian ones.

As for the “margin call”, this so-called “modus operandi” is no different from trading KLCI futures, for example. It only becomes an issue when the trader is trading on borrowed money (which HE SHOULD NEVER EVER DO!). What must have happened: a financially unready investor loses money trading on borrowed money (eg. credit card advances). If this investor is already undisciplined enough to trade on credit, I think it’s reasonable to expect he lost money due to undisciplined stop-loss management or consistently wrong application of the techniques taught to him (such people should be called “gamblers”, by the way). What does he do next? He goes to complain to the government. *sigh* What to do? To recap: Based on MY interpretation of the rules, FX trading (on non-MYR pairs) is legal subject to conditions: 1. Do trade responsibly. 2. BE responsible for your own trading. 3. Do not trade for someone else i. e. with someone else’s money (because that means unlicensed deposit-taking). 4. Do not ask someone to trade on your behalf (because that means placing a deposit in an unlicensed person or company). 5. Do NOT trade against the ringgit. 6. Do convert your ringgit asset to USD (for example) with any Authorised Dealer (i. e. Malaysian Banks) without fear. And after you receive your new USD asset, you may tradeinvest (i. e. place a margin deposit) within the context of ECM9 to your heart’s content. 7. Do NOT convert your ringgit asset to USD with unauthorised dealers (you know who they are). 8. Do research for (relatively) reputable offshore brokers. 9. NEVER EVER EVER trade on credit. Always make sure you have backup capital to help you pay day-to-day bills during the losing spells.

By the way, did you know that XM is the NUMBER ONE forex broker in Malaysia in 2016. Click here to find out more about XM!



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