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Malaysian SC Adds FXOpen to Its Investor Alert List

2022-05-23 Brokersview

 

In an alert on May 18, the Securities Commission Malaysia (SC) has added three forex brokers to its Investor Alert List.


1. AlexisFX

• Illegal investment scheme offering high returns e.g. return of RM7,000 in 3 hours with investment of RM500

• Carrying on unlicensed capital market activities of dealing in securities and

• Operating a recognized market without authorization from the SC


2. FXOpen 

• Carrying on unlicensed capital market activities of dealing in securities


3. Potential clone entity — NordFX Asia

• Illegal investment scheme offering high returns e.g. return of RM20,000 in 3 hours with investment of RM1,000

• Carrying on unlicensed capital market activities of dealing in securities


As a self-funded statutory body entrusted with the responsibility to regulate and develop the Malaysian capital market, the watchdog is here to inform investors that the 3 forex brokers do not belong to an entity which has been granted an authorization for the provision of investment services and/or the performance of investment activities under the Capital Markets and Services Act 2007.

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