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    How do I invest in Forex in Malaysia? (brokers warning list attached)

    Abstract:Forex trading is perfectly legal in Malaysia, and there are many world-class Forex brokers offering services to local citizens.
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      Forex trading is perfectly legal in Malaysia, and there are many world-class Forex brokers offering services to local citizens.

      In fact, it has become very popular in this growing-economy. According to local regulations, only authorized Forex brokers are able to accept clients from the country. Local traders can also use overseas brokers.

      To make sure that you are staying safe, it would be much better to trade with Forex brokers that own both, local and overseas licenses. There are many well-known Forex brokers that fit in this category.

      Before you start trading, however, there are some things that you will need to learn about. For starters, you need to understand how the Forex trading market works.

      Forex trading is the largest financial market in the world, with more than $5.6 trillion average daily turnover. This means that millions of people are trading Forex every moment. This market has developed very fast, and thanks to online Forex brokers, it has become accessible for almost everyone.

      Since most of the people in Malaysia follow the beliefs of Islam, it is a great idea to find a broker that offers a Swap-Free account. This type of account is also known as an Isla*mic account because it is created according to the beliefs of the Qu*ran.

      Forex trading in Malaysia

      Back in 2012, the Central Bank of Malaysia said that Forex trading or buying and selling of foreign currency was allowed in Malaysia, however, only through licensed companies, such as commercial banks, Isla*mic banks, investment banks, and international Isla*mic banks.

      As many local experts have said, there is a huge growing interest in Forex trading in the country. In recent years, thousands of people have started trading Forex in Malaysia, and the number of them is increasing daily.

      To start trading Forex in the country, you will first need to find a trustworthy Forex broker. Thanks to the local regulations, there are many companies that you can choose from. Just make sure that the broker follows local laws.

      After you have found a broker, you will create an account of your choice. Then, you will have to make your first deposits on your trading account and you are good to go.

      After you have done so, you will get access to the trading platform. Which platform you will be able to use largely depends on the broker you are trading with. As you open a trading platform, you will be able to open and close positions and start trading Forex.

      In the end, make sure to only trade with a reputable and authorized Forex broker. Thankfully, there are many of them that accept traders from Malaysia.

      Forex trading has a very long history, and over the last few years, it has become a market that is accessible for people from different parts of the world. This has mainly happened because of the development of the internet, and if you want to become part of this growing market, you can very easily do so from Malaysia.

      Below is a list of forex brokers whose license status has changed recently. Every traders, particularly newbies, should stay away from them! You can check their regulation status via https://www.wikifx.com/my_en/search.html

    •   Fxtrading

    •   CMCMarkets

    •   GIB Capital Group

    •   TriumphFX

    •   EternalWealth

    •   QIVIUT

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    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
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