Recently I noticed a question if the Forex trading is legal in the country of Malaysia. Nationals of Malaysia a lot worried that it is illegal, there are still a lot of traders who earn money with currency speculation. Most used free Islamic accounts I am among them, my dear readers,:)
But the truth is, you will be fined if you will sell and buy Malaysia citizen online currency. I decided to share my thoughts and experiences with you. Sit down and let's go
Trade law: is it true or not.
Hotel Malaysia said the Forex is not legal in this country. There is even a page of a Web site on Forex trading is illegal, real. They tell us that "money does not buy or sell the permit by a person or company in the country, Malaysia. Has anyone not authorized land bank or person approved of the Bank. Hotel Malaysia under financial statements "" 2013 Services Act or law on Islamic financial services. 2013. "
So that should make for each merchant, if they cannot be registered as a land bank. Or can not be allowed above. One such entrepreneur is terminated after the first withdrawal.
The answer is ' no ', because the Central Bank is not very interested in the currency pair that is associated with the ringgit Malaysia. In addition, you can easily buy sell Japanese Yen United States dollar. As other currencies.
I would like to admit that these restrictions for Malaysia ringgit is needed to protect the flow of national currencies of Malaysia and the control authorities.
In addition, the Exchange Control Act Malaysia 1953, which States that no one can participate in a transaction that is authorized dealers. Forex and you can't invest more than RM 1 million in foreign companies (because of) a specific amount of money in 2017 February 8 RM 10,000 before), but but there are some laws about trading. Is (or will be exchanged for real money), Malays can buy or sell foreign currency with foreign brokers, safely.
The bottom line.
As you understand, and trading is not all legal in Malaysia. But we can also make money by online currency normal situation, nobody will stop you, do not interfere with each other. And attention in your financial activities. At least I negotiated independence almost four years and no one has brought a child in jail:)
But the core problem of today's article: ' East-Forex. In Malaysia, the law is still open for discussion, share your thoughts, comments, ladies and gentlemen.
Hope you have a Forex business and don't have anyone to go with your commercial success.