Illegal forex trading in malaysia. Coupled with improved living standards and increased wealth, Malaysia has also seen a rise in interest in the Forex market. Not too many years ago, trading on the Forex market would have been illegal, with caught offenders being sent to jail. Thankfully things have moved on from there and would-be Forex traders can now.

Illegal forex trading in malaysia

BloombergUTV Exclusive: Big Story - Illegal Forex Trading

Illegal forex trading in malaysia. KUALA LUMPUR: Bank Negara Malaysia clarified on Thursday 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

Illegal forex trading in malaysia


All your friends are talking about it. First up, is Forex Trading legal in Malaysia? 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 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.

What must have happened: What does he do next? He goes to complain to the government. BE responsible for your own trading.

Do not trade for someone else i. Do not ask someone to trade on your behalf because that means placing a deposit in an unlicensed person or company. Do NOT trade against the ringgit. Malaysian Banks without fear. Do research for relatively reputable offshore brokers. Always make sure you have backup capital to help you pay day-to-day bills during the losing spells. Click here to find out more about XM!

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