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It is more convenient and faster to find brokers and complain
The Securities Commission Malaysia (SC) was established on March 1, 1993 under the Securities Commission Act 1993. It is a statutory body with investigative and enforcement powers. The SC reports directly to the Minister of Finance and its accounts are presented to parliament annually in a form.
the SC does not regulate forex, it regulates the financial product services of Contracts for Difference (CFDs) including stocks and indices.
Generally speaking, SC-regulated broker profile will be found at the LICENSED AND REGISTERED PERSONS page on SC website. Try to find it and check if it will match the info from the broker website.
The detailed steps are as below:
1. Find the name of the forex broker, which you can get from the broker's website;
2. Enter the name into the search bar on https://easy.seccom.com.my:8222/ ;
When you have disputes with a SC-regulated broker, you can proceed the following way:
1. Download the complaint form: https://www.sc.com.my/api/documentms/download.ashx?id=c18035ab-a451-45e3-ac0e-5828cc2cee7a
2. Mail to the following address: Consumer & Investor Office Securities Commission Malaysia No 3 Persiaran Bukit Kiara Bukit Kiara 50490 Kuala Lumpur
Tel: 603 6204 8999
FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.
The data contained in this website may not be real-time and accurate. The data and prices on this site are not necessarily provided by the market or exchange, but may be provided by market makers, so prices may be inaccurate and differ from actual market prices. Namely, this price is indicative price only to reflect market trend, and is unfavorable for trading purpose. The provider of the data contained in the Website shall not be liable for any loss incurred by you as a result of your trading activities or reliance on the information contained in the Website.