Forex Trading in Malaysia – Be Clear of the Facts Before Signing up with Malaysian Forex Brokers

Malaysian Forex BrokersLocated in Southeast Asia, Malaysia is a federal constitutional monarchy with very hazy regulations when it comes to Forex trading. With a total landmass of over 330,000 square kilometers, it is made up of thirteen states and three federal territories. Over recent years, Malaysia has seen some considerable expansion and improvements of the local economy. With many experts putting a figure of 40% on the rise. These changes in the country’s economy, have of course led to increased wealth and greatly improved living standards. All of which have meant an increasing number of Malaysian people are becoming interested in Forex trading. It wasn’t very many years ago, that Forex trading would have been an illegal form of investment, with anyone caught trading in foreign currencies running the risk of being sent to jail. Things have changed dramatically, in recent years, but Forex trading in Malaysia, and choosing Forex brokers in Malaysia is still a risky business. And anyone considering this form of investment should be very wary and careful about what they are doing.

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An up to date look into the world of Forex trading in Malaysia

Many consider Malaysia to be an emerging market economy, which can be considered a good thing, but is also seen by some unscrupulous elements as a way to make a lot of money from inexperienced and naive Malaysian citizens. There have been numerous instances of Forex trading being touted as a get rich quick scheme, and a number of residents have had their fingers severely burned. There have been a number of fraudulent brokers and so-called experts who have been more than happy to pull the wool over the eyes of inexperienced traders. The country’s regulatory authorities aren’t taking this lying down, and are eager to charge anyone found guilty of fraud and deception in relation to Forex trading services very severely.
Anyone considering a venture into the world of Forex trading shouldn’t feel too worried, as it is easy to protect yourself from any unnecessary risks. There are a number of top Forex brokers in Malaysia and as long as you take the right precautions, be aware of the risks, and do enough research, there should be no problems. The best advice we can give is to research local legislation, and be certain that anything you read is up to date and truthful. If you have any doubts at all then walk away and choose only the best Malaysian Forex brokers. Forex trading is Malaysia is still a relatively new concept, and legislation still has a way to go, to keep up with more regulated countries such as the UK. If you want to be certain of the best possible protection you might be better choosing to trade with a broker that operates from a more a regulated location. In many of Malaysia’s states, government official still consider Forex trading to be illegal, and local Islamic beliefs can outlaw it all together.
If you are still looking for the best Malaysian forex brokers, lets give you some tips on how to find one.

How to pick top Forex brokers in Malaysia

Once you’re certain of local regulations, and are clear where you stand on religious grounds, it’s time to do some research and find the best Forex brokers Malaysia has to offer. Picking the right one is going to be important, because this is the only way you can keep your funds safe and secure. Due diligence is the byword when it comes to choosing a Forex partner, and if you don’t spend enough time reading all the small print and understanding the intricacies of trading you are putting yourself at risk of unwelcome problems. Wherever you might be located, in the world of Forex trading there are always going to be unscrupulous brokers, and people who want nothing more than to take all your money. Fraud prevention has come on in leaps and bounds but that doesn’t mean you can be complacent. We can help by sharing some sound advice that will get you well on the road to success.


Forex trading in Malaysia falls under the remit of the Malaysian Securities Commission

The Securities Commission Malaysia, was formed in March 1993 under the Securities Commission Act 1993. It is a self funding statutory body that is responsible for investigating and enforcing certain rules with the ultimate aim of protecting Malaysian investors. It reports to the Minister of Finance and as well as overseeing the world of Forex trading it has a number of other functions. These include:

The main aim of the Securities Commission is to be responsible for the protection of investors. It does this through various regulatory functions. It also has an obligation to promote and encourage the development of the securities and derivatives markets by virtue of statute.
There is another body that has a part to play in the Malaysian Forex trading market. The country’s central bank known as the Bank Negara Malaysia. It became a major player towards the end of the 1980s and played an important part in the Forex trading market for a number of years. However, it was asked to stop trading when the country’s Federal Reserve realized its speculation was having a significant impact on currency reserves. It became insolvent in 1994 following the sale of large quantities of currency reserves, but luckily was bailed out by the Malaysian Finance Ministry.
More recently it joined together with the Securities Commission and established the Finance Accreditation Agency (FAA). An independent and international quality assurance and accreditation body for the financial services industry.
While the regulation of the Forex industry is still under development it is nevertheless a very exciting market to be involved in. And we hope we’ve help make your choice of Malaysian Forex broker a little easier.

A final few words for those of you looking for the top Forex brokers in Malaysia

While it’s not possible for us to be specific and provide you with a few names, it is possible for us to offer a few words of advice. Choosing the best Malaysian Forex brokers is really more of a personal choice, as each and everyone of you will have your own set of preferences and priorities. We can give you some general tips and hints and point out the most important factors to consider. So, before we finish let’s look at some of the things you should be considering, in order to increase your chances of success.

Wherever you might be located, we wish you all the best with your Forex trading. Keep us as one of your favorites because we’ve got lots more to share.