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 Is eToro legal in Malaysia?, They urge Malaysians to make side income

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Phoenix_KL
post Apr 29 2020, 06:52 PM

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If no Malaysia license so no.
Phoenix_KL
post Apr 29 2020, 07:31 PM

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QUOTE(wotvr @ Apr 29 2020, 07:23 PM)
So is it legal for local news to promote it to Malaysian readers if it doesn't have Malaysian license?
*
that one you ask edge. why they do that.

https://www.bnm.gov.my/index.php?ch=fs&pg=f...&ac=118&lang=en

This post has been edited by Phoenix_KL: Apr 29 2020, 07:33 PM
Phoenix_KL
post May 22 2020, 02:19 AM

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eToro is on SC's unlicensed entities watch list

Yesterday, an SC spokesperson said any person carrying out regulated activities in Malaysia without a licence from, or registration with, the SC may be liable to a fine not exceeding RM10 million or imprisonment not exceeding 10 years, or both, if convicted.

"Malaysian investors who deal with unlicensed persons, especially entities operating offshore, are not protected under Malaysian securities laws. They are also exposed to various risks, including fraud and money laundering, and may not have access to legal recourse in the event of a dispute," the spokesperson told theedgemarkets.com in an emailed statement.

https://www.theedgemarkets.com/article/etor...censed-entities

This post has been edited by Phoenix_KL: May 22 2020, 02:20 AM

 

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