FOREX | v se7en, the market is very SucKy
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 May 19 2010, 01:14 AM
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#1
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Staff
25,802 posts Joined: Jan 2003 From: Penang  
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QUOTE(keith_hjinhoh @ May 19 2010, 01:12 AM) Guy, I would like to investment some foreign currency, mainly due to the bullish in RM, which I think could capitalised on this opportunity to get some foreign currency for appreciation. Is there anyway I can buy a foreign currency and hold for 6 months - 2 years then only disposed off when I deemed the price is right? Should be looking here. http://forum.lowyat.net/topic/512136/+320 |
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Jun 25 2010, 05:57 PM
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#2
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Staff
25,802 posts Joined: Jan 2003 From: Penang
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A reminder,
This is a topic for discussion of forex stuff, it is not about personal flaming war. Thank you for cooperation. |
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Jun 26 2010, 02:52 PM
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#3
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Staff
25,802 posts Joined: Jan 2003 From: Penang
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QUOTE(Sham903n @ Jun 26 2010, 02:38 PM) lol... ive teach 1 friend bfore and thats the lastime Im gonna teach anyone.... needless to say.. you teach them to fish... small fish in the pond.. they go to the big sea and try to cat the whale soon afterwards they drown and die.. Trade in demo is different in live/real.Trade in small pond vs ocean is different as well. Although all are basically the same on paper, in real trade and real money involved, and scale of it, human behaviour is different when one trades with demo, or virtual fake account. It is never the same. One can win big in demo, but in live or real account, may be not. Because in demo/fake account you have nothing to lose, in real trade, it is not. One can win small small, but after small small win over period of time, greed may take over and want to venture into ocean, eventually drown in greed. |
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Jun 28 2010, 11:04 AM
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#4
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25,802 posts Joined: Jan 2003 From: Penang
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QUOTE(hafizuka @ Jun 28 2010, 10:48 AM) About time we get retail forex legalised in Malaysia Just for clarify to others who may not know,Forex trading is not legal in Malaysia. No company/brokers can offer forex trading in Malaysia. |
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Jun 28 2010, 03:18 PM
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#5
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Staff
25,802 posts Joined: Jan 2003 From: Penang
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QUOTE(luqmanz @ Jun 28 2010, 12:31 PM) QUOTE Bank Negara Malaysia wishes to announce that foreign electronic brokers would be allowed to offer electronic broking platforms for wholesale interbank trading in the Malaysian foreign exchange market with effect from 1 July 2010. See the bolded part. It stated for wholesale interbank trading only. QUOTE(Sky_Q @ Jun 28 2010, 12:42 PM) so it just means that instaforex isnt regulated as yet.How sure we noe that instaforex gonna adhere to the Banking and Financial Institutions Act 1989 which will be effect from 1 July 2010? If instaforex CEO wanna cheat our money, he can do it easily cos he's not watch by any regulated body? Unregulated = no protection at all, and you may not know it is real or not. |
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Jul 10 2010, 11:49 AM
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#6
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25,802 posts Joined: Jan 2003 From: Penang
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QUOTE(othniel91 @ Jul 10 2010, 07:32 AM) hey i too wanna start doing doing forex as a side income, can list any reputable broker? Preferably somewhere in Malaysia. None, forex trading is not allowed in Malaysia and no company can offer forex trading in Malaysia. |
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Jul 10 2010, 04:30 PM
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#7
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Staff
25,802 posts Joined: Jan 2003 From: Penang
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QUOTE(othniel91 @ Jul 10 2010, 12:32 PM) @cherroy Technically, no local representative is allowed to promote such service here.Oh okay den any representative that can be trust? |
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Aug 15 2010, 01:03 AM
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#8
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25,802 posts Joined: Jan 2003 From: Penang
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QUOTE(silkworm.zc @ Aug 13 2010, 09:43 PM) good evening people , im new in this sub forum , after reading the bank negara statement on the first page , im still confused on 1 thing . companies like Hope this helpinstaforex , are they legal in malaysia? they are a russian base company with a branch in malaysia as well . so if i open an account and trade with them , it would be fine right ? Any answers are really appreciated . thank you = ) QUOTE Under the Exchange Control Act 1953 (ECA), it is an offence for a person in Malaysia to buy or sell foreign currency or do any act which involves, is in association with, or is preparatory to, buying or selling of foreign currency with any person, other than an authorised dealer. 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. So far, as far as I know, BNM never approve any company to run FX trading for retailers in Malaysia nor collect money for FX investment/trading.The list of authorised dealers and financial institutions permitted by the Controller of Foreign Exchange to buy or sell foreign currency can be obtained from Bank Negara Malaysia website http://www.bnm.gov.my |
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Dec 1 2010, 11:47 PM
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#9
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Staff
25,802 posts Joined: Jan 2003 From: Penang
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Please open a new topic/version 8 for further Forex discussion.
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