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Forex

Malaysian Forex Brokers

 

An emerging market economy in Asia, Malaysia is a market with considerable potential for forex brokers. Forex trading in Malaysia is no longer illegal, however it is still a relatively new concept. 

 

Forex brokers in this country are formally not regulated, although the Securities Commission in Malaysia overlooks exchange-traded products, including securities and futures and how brokers operate in the country.

 

Meanwhile, the National Bank of Malaysia (Bank Negara), which is responsible for managing the local currency (the Ringgit), has also made a commitment to promote monetary and financial system stability and foster a sound and progressive financial sector.

 

As Islam is the official religion of Malaysia, forex brokers targeting local residents should offer special swap-free accounts. In fact, the Islamic Financial Services Act (2013) requires compliance of these services with the Sharia.

 

Many global brokers have already established offices in Malaysia (including FXCMXM and FXTM, among others), and even more have Malay versions of their websites, which would lead one to believe that they also have Malay- speaking customer support.



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Malaysian Forex Brokers

Broker Country Regulation Leverage Min.deposit Review
Cyprus CySec 1:1000 $5 Review Website
UK, Cyprus FCA, CySec 1:888 $5 Review Website
UK, Australia FCA, ASIC 1:400 $50 Review Website
UK, Australia, Singapore FCA, ASIC, MAS, BaFin 1:200 $0 Review Website
UK, Cyprus, UAE, South Africa FCA, CySEC, DFSA, FSB 1:500 $100 Review Website
Seychelles FinaCom 1:2000 $10 Review Website
UK, Australia FCA, ASIC 1:500 $1 Review
Belize IFSC 1:2000 $2 Review
Cyprus CySec 1:2000 $1 Review
St. Vincent N/A 1:500 $100 Review
St. Vincent and the Grenadines N/A 1:500 $10 Review
Malaysia None 1:500 $100 Review
Vanuatu VSCF 1:1000 $1 Review
Vanuatu N/A 1:1000 $1 Review
SVG FSA of SVG 1:500 $10 Review
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