Welcome home jack2.

I did not trade FX for many years liao and still got people PM me how did they scam (the GM trader) and to provide proof.

I asked him to give me the new investor login so I can check the legitmate of the trades but he told long mother stories.

Sometime let mother karma do her work. We dont have to convince them to keep their money safe. It's not your money.

Yes, I told him so that we are not going to discuss further.

Even if you manage to provide the proof, they may not convinced as well. Most of them are blinded by the fake profits.

The greatest lesson is let them taste the experience of being scammed.

First of all, the forex broker choice is the only variant you can get qualified assistance in the trading of this area. This is because people today does not know enough about the chosen way. And they simply are not ready to work on thieir own. So if you have chosen the right (for you and your audience) broker, you will get a very quick result furthermore.

Anyone here able to verify authencity of FDX Capital??
Victimised before? Unable to withdraw? Wanna do a background check on it

The website looks like a scam site. It's so terrible I think they paid some freelancer RM 350 to quickly develop it.
And the broker they use is Cooper Markets see list 101

It's too late if you wait until someone is victimised. FDX Capital is a FX SCAM. It's doing fake trading with SCAM broker CP Markets.

Learn how to identify FX SCAM. Read the first page of the thread.

They were using Czech National Bank payment license to run the FX SCAM last year and was eventually black listed by the regulator.

https://www.cnb.cz/en/supervision-financial...MARKETS-s.r.o./

Thanks all sifu. So any other genuine fx recommendation that offer fund managers to manage your fund that use a better broker house?

I know a fund manager that let you choose one of the following brokers
1) Vantagefx
2) Mexgroup
3)ACY Securities
4) Fxtrading

All solid brokers. PM me to find out more.

Hi DrFx, is Alpari a legit broker?

Hi Archemedia,

Alpari is a classic brand FX broker. Since they filed backrupcy in UK and lost the UK license, they mainly operate from offshore.

We do not recommend this broker due to lack of top tier license and there are too many complains on this broker as well.

This post has been edited by DrFX: Jun 3 2021, 05:05 AM

Thank you so much

Please help to review TMGM, https://www.tmgm.com/en, they hold ASIC and VFSC license

TradeMax is on DrFX's Genuine broker list. You can open an account here. https://portal.tmgm.com/register?node=MzM0MjI=&language=en

would be good to see in the list at first post under those listed as scam Forex, which one has already been proven busted.

I think most of them are busted, except some new SCAMs and TriumphFX which busted few times still manage to continue cheated innocent investors with beautiful lies.

Hi all,

Hopefully some of you here could provide some insights/clarifications/feedback to some if not all of the questions below:
1) Do I understand correctly that it's presently illegal for Malaysians to trade/invest in foreign currencies in Malaysia, unless it's only done via Licensed Onshore Bank (LOB) like Maybank, Public Bank or CIMB??

2) As a Retail FOREX/CFD trader/investor based in Malaysia, is it legal for Malaysians to open and fund own trading account via a Licensed/Regulated Offshore Broker (e.g. Pepperstone, FXCM, ICM...) and start trading foreign currencies, commodities and US indices/equities/CFDs on the broker's platform like MT4/MT5??

3) If no. 2 above is LEGAL and assuming the source of funding of my above broker FOREX/CFD account is from a legitimate Malaysian bank/credit card account (in RM), can I then repatriate the profits earned from this trading account (in USD) back to my SAME Malaysian bank/credit card account without facing any issue from BNM for such transfer/transactions??

4) Can Malaysians' FOREX trading/investing activities via the Licensed/Regulated Offshore Broker be declared as "foreign investment", just like we invest in overseas properties and US shares etc...., even if we're doing self-trading via our own FOREX broker account??

5) If YES to no. 4 above, is the profit or capital gain repatriated from the said foreign investment TAXABLE under the Malaysian personal income tax laws?

6) Any other foreseeable risks or challenges in dealing with our local authorities as far as offshore FOREX trading/investing is concerned?

In any case, I understand that we Malaysians have to bear our own responsibility & risks for trading/investing in financial instruments via overseas/offshore brokers /agents (regardless of whether these brokers/agents are licensed/regulated by overseas regulators/authorities) that are NOT regulated or recognized by BNM & Securities Commissions of Malaysia (SCM).

Please pardon me if this is the wrong thread to post the above questions.