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  1. #1
    EZCHIN's Avatar
    EZCHIN is offline Member
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    Bank Negara Malaysia

    Under the Exchange Control Act 1953 (ECA), it is an offence for a person in Malaysia to buy or sell foreign currency or engage in any act which involves, is in association with, or is preparatory to, the buying or selling of foreign currency with any person, other than an authorised dealer.

    It is also an offence for a person to aid or abet another to buy or sell foreign currency with anyone, unless the individual is an authorised dealer.

    The list of authorised dealers and financial institutions permitted by the Controller of Foreign Exchange to buy or sell foreign currency can be obtained from Bank Negara Malaysia’s website


    I hope someone from FXCM management can explain to me, is that Malaysian are not allowed to trade FOREX ??

  2. #2
    Helene at FXCM's Avatar
    Helene at FXCM is offline Moderator
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    Quote Originally Posted by EZCHIN View Post
    Under the Exchange Control Act 1953 (ECA), it is an offence for a person in Malaysia to buy or sell foreign currency or engage in any act which involves, is in association with, or is preparatory to, the buying or selling of foreign currency with any person, other than an authorised dealer.

    It is also an offence for a person to aid or abet another to buy or sell foreign currency with anyone, unless the individual is an authorised dealer.

    The list of authorised dealers and financial institutions permitted by the Controller of Foreign Exchange to buy or sell foreign currency can be obtained from Bank Negara Malaysia’s website


    I hope someone from FXCM management can explain to me, is that Malaysian are not allowed to trade FOREX ??
    No, you can trade forex. We have a lot of malaysian clients. where did you see this?

  3. #3
    EZCHIN's Avatar
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    Frequently Asked Questions (FAQs)

    This is the website of Malaysia Central Bank, hopefully u can help me on this issues,thank you

  4. #4
    Helene at FXCM's Avatar
    Helene at FXCM is offline Moderator
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    Quote Originally Posted by EZCHIN View Post
    Frequently Asked Questions (FAQs)

    This is the website of Malaysia Central Bank, hopefully u can help me on this issues,thank you
    EZChin,

    I am looking into this matter, please allow me some time and I will post here as soon as I have an answer! Thank you for your patience!

  5. #5
    EZCHIN's Avatar
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    Smile

    no problem,waiting for your answer

  6. #6
    Helene at FXCM's Avatar
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    Quote Originally Posted by EZCHIN View Post
    no problem,waiting for your answer
    FXCM is regulated in the UK, the US, Hong Kong, Australia and Japan. FXCM does not have a physical presence in Malaysia, but Malaysian clients are welcome to apply to one of FXCM’s entities worldwide. If you have questions about Bank Negara Malaysia it would be best to contact them directly.
    Last edited by Helene at FXCM; 03-23-2010 at 05:03 PM.

  7. #7
    wos
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    Any feedback from Bank Negara Malaysia?

  8. #8
    Suhail at FXCM's Avatar
    Suhail at FXCM is offline FXCM Micro Support
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    Quote Originally Posted by wos View Post
    Any feedback from Bank Negara Malaysia?
    Hi wos,

    FXCM cannot speak for Bank Negara Malaysia. FXCM is regulated in the UK, the US, Hong Kong, Australia and Japan. FXCM does not have a physical presence in Malaysia, but Malaysian clients are welcome to apply to one of FXCM’s entities worldwide. If you have questions about Bank Negara Malaysia, it would be best to contact them directly.


    Suhail

  9. #9
    happytony80 is offline Registered User
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    Hello

    Hello, Echin and wow.

    How is the feedback from BNM?
    May i know the result. Thanks

    happytony

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