I came across an interesting article about forex trading in Malaysia. I once read that there was a Forex firm that was closed down by the authorities mgc forex malaysia tipula our law do not allow any companies to be set up as a forex broker. But with the internet, individuals can easily register with a foreign forex broker to trade forex. The down side is that we are not protected by the law in our own country.
Therefore, I think the smart thing to do is to have only a certain amount of capital in the forex broker that you are using. Always withdraw your profits into your bank accounts. It might as well be today. Before venturing in the exciting world of forex trading, you must understand these 4 FACTS.
All deposit-taking must be done by persons registered under Bank Negara. All forex brokers have HIDDEN FEES. There is no such thing as a totally honest forex broker. Finding a good mentor to teach you how to trade correctly can be very hard. Not many successful forex traders in Malaysia are willing to teach how they got to that stage. The skills gained from forex are earned through closed doors. No fan fare, no hype and gimmick.
Forex traders in Malaysia are divided into different camps and groups. Malaysian traders who trade with easy-forex will find it more easier to communicate and get support if they join groups such as easyforexmalaysia. If you happen to trade with Instaforex, there is a group for you to join in Malaysia. To me, all of the seminars out there are just out there to attract newbies and in the end, promote something. To be fair, you can’t blame them for it. They provide something and in return, hope that you will be their customer.