isnt forex broker / agent has a license to do it?
btw does you tt from your own local to / from foreign account consider forex?
is forex legal in malaysia
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 Mar 9 2016, 03:56 PM
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#1
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Mar 9 2016, 04:16 PM
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#2
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QUOTE(cherroy @ Mar 9 2016, 04:08 PM) If a forex broker claimed doing forex operation in Malaysia, then the broker needs to have BNM license, as simple as that. so based on your facts, it doesnt really consider as "forex" if you do transaction between your own account (local & foreign account) right?We have list of approved financial institution/banks that can operate forex activities. While there is reason, why you see those money changer out there, always put up signboard "licensed money changer". Because you cannot do forex activities without BNM license. All the list are available in the BNM website, which one can easily look upon.  |
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Mar 9 2016, 04:41 PM
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#3
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QUOTE(cherroy @ Mar 9 2016, 04:27 PM) How can you transfer RM to a foreign account...? lemme give a example...  While foreign money transfer (eg. converted to USD then TT out) then it is subjected to BNM's foreign money transfer regulation. you got a local bank account. you transfer money to sg bank account via TT. you earn the exchange rates. something like that. it is both your account btw  |
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Mar 9 2016, 04:54 PM
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#4
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QUOTE(cherroy @ Mar 9 2016, 04:47 PM) The SG bank account may not accept the money in RM... which means need atleast go thru licensed money changer You need to change to SGD or USD or whatever first locally before TT.  got it  |
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