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 How To Check Your Forex Broker Is Genuine Or Scam, Real FX Broker VS Scam FX Broker

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cherroy
post Dec 23 2016, 10:21 AM

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From: Penang
QUOTE(akingko @ Dec 23 2016, 10:09 AM)
Hi, I'm new to forex this thing and last night one my friend asked me to join IGOFX... I'm abit worry its scam so I done some research and I found this thread. Just wanna ask... is anyone can introduce any genuine forex trader or broker ya?
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Please be reminded.

http://www.bnm.gov.my/microsites/fraudalert/0203_forex.htm
QUOTE
Illegal Foreign Exchange Trading Scheme refers to the buying or selling of foreign currency by an individual or company in Malaysia with any person who is not a licensed onshore bank or any person who has not obtained the approval of Bank Negara Malaysia under the Financial Services Act 2013 or Islamic Financial Services Act 2013.
cherroy
post Dec 23 2016, 04:33 PM

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QUOTE(DrFX @ Dec 23 2016, 03:26 PM)
Globally, it's pretty hard to take BNM as a guide in Forex trading. It doesnt consist of international capital market guideline.
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The ruling is about prohibited any individual people, company or institutional trade forex in Malaysia without license from BNM, nothing to do whatsoever international capital guideline.
In other word, trading forex in Malaysia without BNM license is illegal, as simple as that.
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