forex requires license. either money changer for hard cash or bank for electronic transfer / wire / TT.
some like western union, money gram all have license. u can check on bank negara site , under forex license. if its not listen, its not licensed.

NOW, bank negara regulates financial rules IN MALAYSIA. therefore almost all companies that does this locates their country outside of malaysia so bank negara cant catch them. this doesnt mean it is legal.
on the topic on binary... better go to genting. higher chance of winning plus its ban in multiple other countries ( reference: https://en.wikipedia.org/wiki/Binary_option )

copied from wikipedia:

On June 6, 2013, the U.S. Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission jointly issued an Investor Alert to warn about fraudulent promotional schemes involving binary options and binary options trading platforms. The two agencies said that they had received numerous complaints of fraud about binary options trading sites, "including refusal to credit customer accounts or reimburse funds to customers; identity theft; and manipulation of software to generate losing trades." Other binary options operations were violating requirements to register with regulators.[14]

Many many years ago, my "imaginary uncle" who used to do forex trading...he bought a new car with the proceed.......he ended up with buying a large insurance policy with the sister of the investigating lhdn officer...