If you're interested in trading Forex in Malaysia, you probably want to know whether it is illegal or not. After all, with your money at risk, you don't want difficulty with the law. Lucky for you, we've researched the legislation, and found that it is 100% safe and secure for you to trade Forex in Malaysia.
Trading Forex in Malaysia is supervised by the Securities Commission (SC). It describes itself as the following:
" ... a self-funding statutory body with investigative and enforcement powers. It reports to the Minister of Finance and its accounts are tabled in Parliament annually."1
The SC regulates the "Financial Markets Act", an important piece of legislation for those who want to know the legality of trading Forex, Binary Options, and CFDs in Malaysia. While it requires market operators (trading platforms) to be registered with them, it also recognizes "foreign supervisory authority".2 This indicates that Malaysians should be looking to trade Forex on regulated platform, even if the regulator is not actually based in Malaysia. CySec, ASIC, and FSC are a few of most common regulators for top Forex platforms.
Now that you have a better understanding of the legality of trading Forex in Malaysia, it's time for you to choose a trading platform to make an investment with. We have created a list of the top Forex trading brokers that accept Malaysians. Have look at that, and feel free to contact if you have any questions or concerns.
Sources:
1. What We Do - Securities Commission Malaysia
2. Financial Markets Act (2012) (page 8)
Last updated: 05/30/2017 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.
