In the past few years, we have seen Malaysia developing into an investor-friendly nation. This is all thanks to its growing economy which has seen the country transformed from being merely a raw material exporter to one of the prime and emerging market economies in Asia. Still, there are several facets of Forex trading that are against some how to be a forex broker in malaysia Islam values. This dictates the need for Sharia-Compliant FX brokers.
Nonetheless, Malaysian Forex traders can still indulge in this trade, provided they abide by all the nation’s laws that govern Forex trading and investment. Is trading Forex in Malaysia legal ? Initially, the Malaysian government had forbidden Forex trading, terming it as a criminal activity. If a person was found trading Forex, they risked being charged hefty fines and in serious cases, incarceration. However, over the last few years, Malaysia has slowly but steadily opened up to FX trading.
However, the whole FX trading concept is still in the basic stages of developing. Are Malaysian Forex brokers regulated ? There are various regulatory bodies all over the world that oversee the Forex market to ensure that the brokers meet a certain standard. However, in Malaysia, as far as the regulatory agency is concerned, it is still undergoing changes and development. So far, there is still a lot of confusion concerning the actual regulatory body for Malaysia Forex brokers.