Jul 9 2021, 04:18 AM
QUOTE(infernape772 @ Jul 8 2021, 10:21 AM)
Technically they are neither legal or illegal. They have not been granted license and not regulated by SC to deal with securities in Malaysia. But at the the same time they are not on SC's watch list as per this list they have:
https://www.sc.com.my/regulation/enforcemen...stor-alert-list
So the conclusion is still invest and trade at your own risk. But like others pointed out, SC has a track record of adding BIG and REUPTABLE foreign brokers in their watchlist, and making it very hard for us to invest internationally. Big names in their watchlist include TD Ameritrade (parent is Charles Schwab), Tiger Brokers, Etoro, Futu (the new MooMoo app). It's ridiculous and they just want Malaysians to live in a bubble and only invest locally, with collecting stamp duty and taxes locally only.
That’s main reason IRB is taxing ppl savings indirectly https://www.sc.com.my/regulation/enforcemen...stor-alert-list
So the conclusion is still invest and trade at your own risk. But like others pointed out, SC has a track record of adding BIG and REUPTABLE foreign brokers in their watchlist, and making it very hard for us to invest internationally. Big names in their watchlist include TD Ameritrade (parent is Charles Schwab), Tiger Brokers, Etoro, Futu (the new MooMoo app). It's ridiculous and they just want Malaysians to live in a bubble and only invest locally, with collecting stamp duty and taxes locally only.
QUOTE(solstice818 @ Jul 8 2021, 05:46 PM)
The answer pretty much didn't answer anything 
It answers that MY is greedy and they want capital pledge before getting SC approval and tax everyone ridiculously 
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