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Help needed in OANDA + users from Malaysia 105 replies

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Malaysia

  • #24,221
  • Aug 2, 2015 12:07pm Aug 2, 2015 12:07pm
Hi.. hihi.. Last week sedih.. Modal 700, untung 1700.. then account burned.. High risk high reward style.. hopefully minggu ni dapat extra..
  • #24,222
  • Aug 14, 2015 12:11am Aug 14, 2015 12:11am
Hi,

Is there any retail market for trading Malaysian Ringgit, or is it confined strictly to banks. Even Bursa Malaysia doesn't offer any futures contracts on the Ringgit. Thanks.
  • #24,223
  • Aug 14, 2015 11:34pm Aug 14, 2015 11:34pm
if can short RM, sure win kow2...
Let Market Tell You
  • #24,224
  • Aug 15, 2015 9:59am Aug 15, 2015 9:59am
Boleh ke? Punyalah banyak currency yang yg drop agains usd. Win kow2 jugak ke? . Hihihihi
Go figure.. Simplicity work
  • #24,225
  • Aug 16, 2015 8:38pm Aug 16, 2015 8:38pm
Quoting Taiyin8
Hi, Is there any retail market for trading Malaysian Ringgit, or is it confined strictly to banks. Even Bursa Malaysia doesn't offer any futures contracts on the Ringgit. Thanks.

www.ikonfx.com
  • #24,226
  • Aug 16, 2015 8:46pm Aug 16, 2015 8:46pm
Thanks! Will check it out.
  • #24,227
  • Aug 16, 2015 8:48pm Aug 16, 2015 8:48pm
Bursa bears are testing the zone.. doesnt look good to me
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  • #24,228
  • Sep 2, 2015 9:54pm Sep 2, 2015 9:54pm
HAPPY (belated) MERDEKA..lol..​
  • #24,229
  • Sep 2, 2015 10:03pm Sep 2, 2015 10:03pm
Dear malaysians, please do not overleverage ur trades... n hav fairly tight stoploss..
  • #24,230
  • Sep 5, 2015 8:17pm Sep 5, 2015 8:17pm
Good luck Malaysia
at last i`ve found a holygrail........
  • #24,231
  • Sep 6, 2015 2:17am Sep 6, 2015 2:17am
Hai Sir,

I am a new trader from Malaysia and newly register in this forum. Have you ever heard about JCMFX?
I am not satisfied with their spread gap, (Example: EURAUD the spread is 142 or USDCHF the spread is 115). I don't know is this spread quote normal or weird.
Can you provide me some suggestion or recommend some broker for me.

Thank you.
  • #24,232
  • Sep 12, 2015 5:40pm Sep 12, 2015 5:40pm
Quoting Uniubi
Hai Sir, I am a new trader from Malaysia and newly register in this forum. Have you ever heard about JCMFX? I am not satisfied with their spread gap, (Example: EURAUD the spread is 142 or USDCHF the spread is 115). I don't know is this spread quote normal or weird. Can you provide me some suggestion or recommend some broker for me. Thank you.
wow 142..u can check/click at FF under "brokers"...good luck...
  • #24,233
  • Sep 17, 2015 3:56am Sep 17, 2015 3:56am
Hi guys, I'm a new trader from Malaysia. Started demo account on XM.com not long ago just to see how it goes and all and recently, I've decided to deposit some money into my account. But here's the problem, I just found out that Forex Trading is illegal in our country, Malaysia ( correct me if i'm wrong ).

Here's what i want to know, since it is illegal, i'm pretty sure that depositing cash into your account using our local bank's credit/debit card is not allowed am i right?

Anyone here trades using XM broker have and still depositing money into your account using Maybank? I would like to know if its against the law to do so as i do not want to get into trouble.
  • #24,234
  • Sep 20, 2015 1:13am Sep 20, 2015 1:13am
It's illegal, but many are still doing, including me. I have withdrawn many times without any issue.
  • #24,235
  • Sep 20, 2015 1:48am Sep 20, 2015 1:48am
Quoting superblack
It's illegal, but many are still doing, including me. I have withdrawn many times without any issue.
What broker are u using ?
  • #24,236
  • Sep 20, 2015 8:49pm Sep 20, 2015 8:49pm
I don't think doing forex can be say illegal in Malaysia. It is just that no brokerage in Malaysia has been given a licence by BNM to operate a currency trading accepts for Banks. So anyone who interests in currency trade has to open up account at regulated brokerage outside Malaysia. This has become very easy when internet dominated our lives already. My advice please make sure you are using regulated brokerage .. means a licence brokerage from respectives countries. Im using brokerage Pruton Mega Berjangka, regulated broker from Indonesia
  • #24,237
  • Sep 20, 2015 11:50pm Sep 20, 2015 11:50pm
Hi...

I'd sending money using Telegraphic Transfer (the yellow form) from Maybank, using debit card from Maybank, CIMB & Public Bank. No problem at all.
And yes, it is ILLEGAL... however, the law (FSA&IFSA) that has been approved by the cabinet June last year, will only be enforced slowly sometime in June till December this year. (Don't ask me how I know this... huhuhu...)

Just be prepare, our government might enforced the law fully by January next year.

Just as a tip... DO NOT send money to forex broker MORE than RM3k. For now, any amount below RM3k should be "OK"...
  • #24,238
  • Sep 21, 2015 9:17am Sep 21, 2015 9:17am
Alright, thanks guys for the reply. Now i'll be able to trade in peace.
  • #24,239
  • Sep 21, 2015 11:36am Sep 21, 2015 11:36am
Quoting Taiyin8
Hi, Is there any retail market for trading Malaysian Ringgit, or is it confined strictly to banks. Even Bursa Malaysia doesn't offer any futures contracts on the Ringgit. Thanks.

If I'm not mistaken, trading Malaysian Ringgit in the context of "Forex Trading" rather than "Currency Exchange" is strictly prohibited. Especially for Malaysians. Again, if I'm not mistaken; if caught doing trading Malaysian Ringgit for Fx Trading purpose can resulting in you spending your time in jail, or something like that. Too lazy to do research about it, I just remember a bit about the restriction of doing Fx trading that involves Malaysian Ringgit. (Sorry if I'm wrong...)
  • #24,240
  • Sep 21, 2015 11:42am Sep 21, 2015 11:42am
Quoting XM.Asia
Hi guys, I'm a new trader from Malaysia. Started demo account on XM.com not long ago just to see how it goes and all and recently, I've decided to deposit some money into my account. But here's the problem, I just found out that Forex Trading is illegal in our country, Malaysia ( correct me if i'm wrong ). Here's what i want to know, since it is illegal, i'm pretty sure that depositing cash into your account using our local bank's credit/debit card is not allowed am i right? Anyone here trades using XM broker have and still depositing money into...

No bro... Illegal here is in the sense of "doing online forex trading OTHER than LOCAL ONSHORE BANKS/FINANCIAL INSTITUTION" - - - according to Financial Services Act 2013 (FSA). Money in or out is OKAY, as long as it is comply with AMLATFA (Anti-money laundering and Terrorism Financing Act) - - - in Malaysia, which is there is enough evidence (documentary support) mentioning the "flow" of the money including the origin BEFORE & AFTER it was transferred.
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