Quick Answer: Is XM broker legal in Malaysia?

Is XM legal in Malaysia?

Malaysian traders will be trading under the subsidiary, XM Global Limited, regulated by the Belize IFSC. Unlike regulators such as the FCA and ASIC, the IFSC has gained a reputation for being less stringent with regard to the regulation of financial services providers.

Which forex broker is legal in Malaysia?

Malaysian Forex Brokers Comparison

Forex Broker Accepts MY Residents Average Spread EUR/USD – Standard
IG Yes 0.745
Saxo Bank Yes 0.800
Interactive Brokers Yes N/A
XTB Yes 0.860

Is XM broker legal?

No, XM is no a scam. We consider XM a safe broker to trade Forex and CFDs. It is regulated and licensed by severl top-tier financial authorities including FCA, ASIC, CySEC. Therefore, it is secure and low-risk to trade.

Is it legal to trade Forex in Malaysia?

Under the Exchange Control Act 1953 (ECA), it is an offence for a person in Malaysia to buy or sell foreign currency 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.

Is Plus500 legal in Malaysia?

Accepts Malaysian Clients. Plus500 Group is regulated by FCA, CySEC, ASIC, and MAS. …

IT IS AMAZING:  What is Angkor Wat built for?

Can I use Oanda in Malaysia?

Accepts Malaysian Clients. Average spread EUR/USD 1 pips on the trading account with lowest minimum deposit. OANDA is regulated by the FCA, MAS and ASIC. …

Which trading platform is best in Malaysia?

Best Trading Platforms Malaysia Reviewed

  • Capital.com – Overall Best Broker in Malaysia and Singapore. …
  • Plus500 – Best Trading Platform Malaysia and Singapore for Asset Diversity. …
  • Libertex – Best Broker in Malaysia and Singapore for ZERO Spreads. …
  • Skilling – Best Trading Platform Malaysia and Singapore for Leverage.

Is FBS banned in Malaysia?

Is FBS legal in Malaysia? FBS is no more or less legal than any other broker headquartered outside Malaysia. It is unclear whether online Forex trading is legal in Malaysia, as it is extremely rare for anyone to be prosecuted for trading Forex, especially if an Islamic account option is maintained.

Is OctaFX regulated in Malaysia?

MT4 & MT5 platforms supported. OctaFX is regulated by CySEC & SVG FSA.

Is XM good for beginners?

Based on our scoring methodology, XM is not considered good for beginners.

Which broker gives free bonus?

10 Best Forex No Deposit Bonuses for South Africans.

No Deposit Forex Brokers FREE Welcome Bonus Amount Claim Bonus Here
Justforex 120% Sign Up Bonus !!! Claim bonus now
Tickmill 10% Deposit Reward Claim bonus now
FBS Up to $40 Level up bonus Claim bonus now
XM $30 bonus Open an account