how am I sure that the names on that 2 lists you had posted are genuine (as separately listed as genuine/scam) and up to date? when was the last time they are updated?
who, where, how they are verified and confirmed true?
Did you get it from statutory bodies?
can provide the links?

Even Bank Negara has this disclaimer on their list for listing something like this....
"Based on information received by BNM, below is the list of known companies and websites which are not authorised nor approved under the relevant laws and regulations administered by BNM:"
as sample of listing from BNM.....
http://www.bnm.gov.my/documents/2015/20151013_FCA_EN.pdf

BNM has this on its link too....
"This list has been compiled based on information, complaints and queries received by BNM regarding the activities of the persons and entities concerned. This list is not exhaustive and the Bank will update the list periodically from time to time. The list is intended to serve as a guide to the public.
The public is advised not to make any deposit or investment with individuals and entities that are not regulated under the relevant laws and should conduct the necessary checks with the relevant authorities if there are doubts regarding any schemes offered. The public is also advised to refer to the Investor Alert and information on enforcement actions published by the Securities Commission of Malaysia (SC) which is accessible via the following links:
• SC's Investor Alerts
• SC's Enforcement Actions
http://www.bnm.gov.my/index.php?ch=en_fina...eralert&lang=en

ELSE, this thread is ......

This post has been edited by yklooi: Nov 14 2015, 08:10 AM

Come to think about it....
what is GENUINE may not be LEGAL in Malaysia....

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.

How it's done?
........
http://www.bnm.gov.my/microsites/fraudalert/0203_forex.htm

How to Protect Yourself?
• Deal only with licensed onshore banks;
• Check with the relevant authorities before remitting/ investing/ depositing;
• Be extra careful with investments over the internet;
• Be sceptical of any investment opportunity that is not in writing; and
• In case an investment has been made, keep copies of all the investment and communications

Licensed onshore banks to conduct foreign currency trading in Malaysia are as follows:
•Commercial banks
•Islamic banks
•Investment banks
•International Islamic banks

http://www.bnm.gov.my/microsites/fraudalert/0203_forex.htm

This post has been edited by yklooi: Nov 14 2015, 08:44 AM

.....just got this from the news.....
............It said consumers should be careful when dealing with unregulated entities or individuals as there would be consequences.

“Consumer protection under the law administered by Bank Negara is not applicable, should members of the public choose to deal with illegal financial service providers.

“Those who participate in illegal financial activities could also be charged under the law for abetting operators of such illegal activities,” it added.

http://www.thestar.com.my/news/nation/2016...hquick-schemes/

This post has been edited by yklooi: Jul 13 2016, 08:33 AM

even BNM's list of unauthorised companies and websites has this disclaimer....
"Please take note that the list is not exhaustive and only serves as a guide to members of the public based on information and queries received by BNM".

thus caveat emptor to those believing that if NOT in the list, then it is ok.
for a start how reliable is that list of scam brokers.

This phrase reminded me of an almost same sales pitch of a money game scheme told by my relative few years ago...
Not to say yours are,.....

Yeah,.. I liked the word, "if you can win and withdraw back.....
Even though it is free money... Not sure how you definite free money...
Anyone can just take without risk,
Can take at anytime?, how long can that free money be available for the taking?
As you mention, forex is money game.
.... Sort of like a musical chair games where in the end only got 1 winner?

Not mean to say forex as a whole is a scam... But More to some of it's intermediaries... Like some forex companies.

This post has been edited by yklooi: May 16 2021, 10:50 AM

Yes... That is a fair acessment.... Which I think can be summarized as...
Money is there... Just like stock mkt
There is risk... Just like stock mkt
There can be gains... Just like stock mkt
There can be losses too... Just like stock mkt
Forex is like gambling,.. Just like stock mkt

But some forex trading companies are scam.... Not sure are there any local stock trading companies are scam?

Some people liked the availability of "manipulation" nature of stock markets... You liked the price you buy it... Willing buyer willing seller.
But I personally don't like the possibility of having my money scammed even though I can get it "free"

after having read reviews and comments by others and yet want to test water with USD100,...
i would prefer to give that USD100 to my mother

mind sharing those links if you happens to come cross those websites that said so.....

thanks for telling,
BUT
i would go for these
https://www.bnm.gov.my/web/financial-fraud-...-trading-scheme
https://forex-malaysia.my/is-forex-trading-...al-in-malaysia/


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I think it would be easier for that high level member to join this thread... Why not tell him during the zoom meeting regarding this thread n see how?

just waiting for that
hope i don''t have to wait too long fot that to happens .....

just saw this article,...
sound familiar?.....

Over 600 investors lose RM12mil in alleged forex scam

"After two months he told me that I had made some profit and I withdrew around RM2,000. It seemed legitimate so I introduced the scheme to family members and friends," the 30-year-old businessman told a press conference at Wisma MCA here on Monday (Sept 27) held by MCA Public Services and Complaints Department head Datuk Seri Michael Chong.

In total, Eng and others invested around RM12mil in the scheme. However, in October last year, several investors who enquired about withdrawing money from the scheme encountered difficulties.

"My friend assured us that everything was fine but we couldn't withdraw our money when we logged in on the website. Then a week later the website disappeared.

"When we tried to contact my friend's boss, we were told to deal directly with him (my friend) instead," Eng said.

https://www.msn.com/en-my/news/national/ove...k?ocid=msedgntp