Forex Trading in Malaysia and Asia Countries.
Forex Trading in Malaysia is getting very hot and very aggressive. After 2008 financial crisis, a lot of bank collapse and public do not trust bank anymore and the unit trust was burst.
However, the proper setup and licence broker from EU and UK is very few and a lot of scam around like Investment scheme with profit and guaranteed return like G-eneva Gold. FREE education if you invest USD10,000 an so forth. All these are scammed.
To get a profitable and sincere teacher is not easy task and a lot of so call “GURU” is just a textbook cut & paste specialist and charge student RM5,000 to RM90,000 without proper background and understanding of current WORLD economy situation.
This is the most common questions about forex trading in Malaysia. As of this writing, there is no regulation or regulatory agency to govern online Foreign Exchange in Malaysia. Our Central Bank has a law prohibiting individual or corporation to accept or collect deposits from public. [Section 25(1) of BAFIA 1989]. Any person or company who commits an offence under Section 25(1) of BAFIA 1989 shall, on conviction, be liable to a fine not exceeding RM10 million or to imprisonment for a term not exceeding 10 years or to both. However, those who wish to invest in Foreign Exchange can deposit the fund directly into personal investment account with international broker with a small telegraphic transfer fee.