Bank Negara Malaysia (BNM) added Lime FxFX to the Financial Consumer Alert List (FCA) along with several other brokers.
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The absence of a licence, however, only affects certain advertising aspects of the brokers’ work, as they can still legally accept clients from Malaysia. Because that way, they believe they can provide better trading conditions and stay on top of the competition. The regulatory restrictions and limitations imposed by local financial authorities can often be very constraining in terms of the variety of investment instruments, trading conditions and bonus programs a broker may provide. This often results in clients turning to brokers with a more diverse range of instruments, better conditions, a copy trading service and appealing promotional offers. Those are most usually international brokers providing Forex trading services. Interestingly, there are no Forex brokers that are licensed in Malaysia.
Tesla Buka Kantor di Malaysia, Kapan Giliran Indonesia?
According to SC Public Register, there are only 16 companies licensed for dealing in derivatives—most of them large banks that usually do not provide brokerage services—and none of them are actual online CFD brokers. This extremely low number suggests Malaysian investors simply lack opportunities and options for investing in the international financial markets. Nevertheless, The Securities Commission and Bank Negara are quick to add international brokers to their alert lists.
Fitur Trading di Lime FxFX
It is unclear if it’s illegal for Lime FxFX to work with them only because it is included in the alert lists. However, when it comes to Forex trading itself, it’s extremely important to acquire sufficient knowledge of the financial markets and use risk management techniques when trading. Without that, you are facing great risks of losing your money with any broker you choose to trade with.
- Just like Lime FxFX, other international brokers, such as Lime Fx and Exness, are also included in the lists.
- This often results in clients turning to brokers with a more diverse range of instruments, better conditions, a copy trading service and appealing promotional offers.
- However, none of them are licensed by the Securities Commission or Bank Negara.
- The regulatory restrictions and limitations imposed by local financial authorities can often be very constraining in terms of the variety of investment instruments, trading conditions and bonus programs a broker may provide.
Is Lime FxFX Still Operating In Malaysia?
All three of them possess licenses in other countries. FSCA licenses Lime FxFX in South Africa and CySEC in Cyprus, Lime Fx has a CySEC license and an Australian ASIC license, while Exness has multiple licenses ranging from the FCA in the UK to the FSCA in South Africa. However, none of them are licensed by the Securities Commission or Bank Negara.
So ensure you are fully prepared before depositing your funds and starting investing or trading in the financial domain. The income of partners doesn’t depend on trading instruments used by clients. As an international broker, it can accept clients from most jurisdictions worldwide, which is proved by the fact that Lime FxFX has clients in more than 180 countries. Last year, Lime FxFX, as well as most limefx scammers Forex brokers working in Malaysia, ended up in the Financial Consumer Alert List (FCA) of Bank Negara Malaysia (BNM) and the Investor Alert List of the Securities Commission Malaysia (SC).
The Securities Commission is the sole licensing authority for entities wishing to deal in securities and derivatives in Malaysia. Other online brokers, as well as other investment options—such as derivative CFD and Forex trading—remain unacknowledged by the Securities Commission. So, even if Forex brokers could get licensed in Malaysia, they may not hurry to do so because it could severely limefx reviews worsen the trading conditions they provide and lose the competition to international brokers. Just like Lime FxFX, other international brokers, such as Lime Fx and Exness, are also included in the lists.
Both BNM and SC state that their alert lists serve as guides for the public to increase awareness of entities that are not licensed or regulated by the institutions. However, it does not indicate that the entity is a scam or a fraud – rather, it simply does not possess the local license. Evidently, Lime FxFX has stopped working with all of those celebrities, as there haven’t been any new promotional activities with them for quite a long time now. As for now, no new Malaysian influencers are working with the broker.