http://forum.lowyat.net/ Fri, 10 Jul 2026 19:54:28 +0800 FeedCreator 1.7.2 http://forum.lowyat.net/topic/4648471 Many malaysians are trading forex, but recently heard that forex is actually not approved by Malaysia govt. Anyone know of this? <!--emo&:o--><img src='http://static.lowyat.net/style_emoticons/default/ohmy.gif' border='0' style='vertical-align:middle' alt='ohmy.gif' /><!--endemo--> <br /><br /><br />From: BNM Telelink [mailto:bnmtelelink@bnm.gov.my] <br /><br />Subject: RE: Forex Trading Company/ij<br /><br />Sir,<br />We would like to inform you that under the Exchange Control Act 1953 (ECA), it is an offence for a person in Malaysia, who is not an authorised dealer, to do any of the following: <br />· buy or sell foreign currency (forex) or do any act which involves, is in association with, or is preparatory to, buying or selling of foreign currency with any person, other than an authorised dealer; or<br />· issue or publish or facilitate the issuance or publication by any person of an advertisement containing an invitation or an offer to buy or sell foreign currency or information which is intended or might reasonably be presumed to be intended to lead directly or indirectly to the buying or selling of foreign currency; or<br />· aid or abet another person to do the above<br />We would also like to inform that Bank Negara Malaysia (BNM) only issues licences to financial institutions (authorised dealers) to conduct forex trading activities. A list of authorised dealers of foreign currency, namely licensed commercial, licensed Islamic banks and licensed investment banks. In this regard, a resident is allowed to buy and sell foreign currency against another foreign currency with licensed onshore banks (the authorised dealers) only. The list of authorised dealers can be obtained from BNM&#39;s website: <a href='http://www.bnm.gov.my/index.php?ch=17&pg=697&ac=606' target='_blank'>http://www.bnm.gov.my/index.php?ch=17&pg=697&ac=606</a><br />Members of the public are urged to be cautious and not to participate in any illegal investment on foreign currency trading (including online) offered by individuals or companies both domestic and foreign. You may refer to our press release dated 4 January 2010 at <a href='http://www.bnm.gov.my/index.php?ch=8&pg=14&ac=1976' target='_blank'>http://www.bnm.gov.my/index.php?ch=8&pg=14&ac=1976</a> for further information.<br /><br />Thank you.<br /><br />Enclosed are the tips for consumer on the financial matters for information. <br /><br /><br />For more information on financial fraud alert, please visit <br /><a href='http://www.bnm.gov.my/index.php?ch=216&pg=701&ac=98' target='_blank'>http://www.bnm.gov.my/index.php?ch=216&pg=701&ac=98</a> and <a href='http://www.bnm.gov.my/microsites/fraudalert/index.htm' target='_blank'>http://www.bnm.gov.my/microsites/fraudalert/index.htm</a><br />For more information on banking, insurance &amp; takaful, please visit<br /><a href='http://www.bankinginfo.com.my' target='_blank'>http://www.bankinginfo.com.my</a> &amp; <a href='http://www.insuranceinfo.com.my' target='_blank'>http://www.insuranceinfo.com.my</a><br /><br /><br /><br />Noraishah Mohd Yacob<br />BNMTELELINK<br />Bank Negara Malaysia<br />No Tel : 1-300-88-5465<br />No Faks : 03-21741515<br />Emel: bnmtelelink@bnm.gov.my vivianng Finance, Business and Investment House Fri, 31 Aug 2018 15:33:42 +0800