Forex Brokers in Malaysia, one of the most emerging markets in South East Asia, are increasing as the country is showing great potential as a financial hub. Despite the fact that forex trading is no longer illegal in Malaysia, the concept is relatively new and the market is still very young. Officially, forex brokers operating in this country are not regulated. However, the Securities Commission in Malaysia oversees the exchange of traded products, including securities, futures and high leveraged products like forex.
Not only that, the National Bank of Malaysia (Bank Negara), which is responsible for managing the local currency (the Ringgit), has also made a serious commitment to promote monetary and financial system stability and prosperity while fostering a sound and progressive financial sector.
As Islam is the official religion of Malaysia, forex brokers targeting local residents often 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 and even more have Malay versions of their websites. This could lead anyone to believe that they also have local offices and offer customer support in Malay.
Malaysia Forex Brokers List
MAS, JFSA, DIFC