21 Best Forex Brokers Malaysia for 2020 - ForexBrokers.com

Malaysia, a nation who became a trader in the forex market

I just wanted to share what I've read. It made me realize that anything can happen in the forex market.
It was today that I learned that my country's central bank called Bank Negara was involved in forex trading back in 1992. It was all done by the bank Governor and also Finance Minister at that time. Basically the central bank and the government were in cahoots to make a profit trading in the forex market. I've read that they used Bank Negara employee computers as well as their own to execute their HUGE position. In the range of billions of dollars.
In the year 1992, they went into the market buying sterling pounds in hopes that they go up. During that time, the Bank of England (BOE) was in the European Exchange Rate Mechanism (ERM) and was basically playing the cat and mouse game and trying to one up the Deutsche Mark. This resulted in low interest rate and very high inflation in the UK.
Enter George Soros, a hedge fun manager at that time who saw that the pound was severely overvalued and decided to short it. His position was fairly large, in the range of tens of millions of dollars. Bank Negara was basically on the other end of that trade, in their mind there's no way some small hedge fund could bring down a CENTRAL BANK. So they kept their long position on the pound until Wednesday September 16th 1992 came when BOE had to pull the pound out of the ERM because of the financial pressure that had built up from within. This made the pound plummet and cemented two things in history. That day is known today as Black Wednesday and George Soros was crowned "The man who broke the Bank of England" by making a profit of US$1 billion in a single day.
As for Bank Negara? Investigations were conducted within my country and the estimated loss of that trade was around US$10 billion. In other words, a lot of our nation's money went into Soros' pocket. Bank Negara was also reported to be insolvent after that loss and had to be bailed out by our Ministry of Finance. They did that by selling shares of MAS (national airline company), Telekom (national telecommunications company) and Tenaga (national utilities company). MAS had been struggling in the airline industry ever since. Both the bank Governor and the Finance Minister were relieved of their duties.
The losses had since been recovered but the whole incident effectively pushed the advancement and development of the country by a few years. Bank Negara had stopped their trading for profits activities ever since and sticking to only regulating the money supply, as it was intended in the first place.
That's a piece of my country's history and how it was tied to the forex trading world and the rest of the world events. Thank you and hope you had a pleasure reading.
submitted by MushrifSaidin to Forex [link] [comments]

3 Lessons not learnt from the 1MDB.

With so much publicity on 1MDB, most Malaysians are still missing the crucial lessons to be learned from this scandal. Malaysian are confident that the new government will resolve this debacle and that we can start moving on towards a better future. However the reality is 1MDB is not the first scandal committed by our previous government. Prior to this there’s the PKFZ and prior to that there’s the Bank Negara Forex scandal and the list goes on (a whole Wikipedia page of it). The fundamental reason for corruption needs to be identified. Without knowing the core factors contributing to governmental corruption, it’s just a matter of time before the next scandal hits.
The first reason or lesson on why the BN government was able to keep stealing the nation‘s money for so long is because we have a big government. Our government has grown so big to the point that it controls almost every aspect of our lives from education to healthcare, from media to sport, and with close to 500 GLCs(source from www.index.my) there are bound to be leakages. 2 reasons for this:-
1) Big governments need big budgets to operate. When there’s big money, there will always be “opportunities” for people who want some of that money.
2) Big governments have strong influences over policies, so there will always be people who want to lobby for certain policies that would benefit them.
Thus to reverse this, Malaysia needs a smaller government that will require less funding. A smaller government also means there will be limited government policy influencing over different industries which will immediately lessen the opportunity for corruption. It’s time for our new PH government to let go of all those GLCs that are not profiting the country and reduce the number of ministries that the government has no business to be in in the first place i.e. sport, media and education.
The second lesson that Malaysians have not learned is the lack of check and balance in our governmental power structure. The recent budget 2019 announced that the government is going to hire additional 100 MACC staff to police themselves from thieving. This won’t mean anything when the MACC’s Chief is still being appointed by the PM instead of a select committee of Dewan Rakyat. The judges of Federal Court are still being appointed based on the PM’s recommendation and so are all the top posts in regulatory agencies like Bank Negara, Security Commission and Ministry of Finance. Have Malaysians forgotten how Najib easily replaced the Bank Negara Governor,MACC’s chief and Attorney General in the mist of the 1MDB initial investigation? Until we have in place a system of check and balance for governmental power, 1MDB will not be the last scandal.
The third lesson that Malaysians failed to grasp from the 1MDB scandal is our high economic dependency on the government. This has resulted in a growing number of GLCs being established since Merdeka. 1MDB, Khazanah, Petronas, Proton, MAS and FELDA are just some of the many GLCs created under the banner to generate revenue for our country’s development. Not only did most of these GLCs perform poorly in helping the Rakyat but they are also a breeding ground for corruption and the mismanagement of public funds. When the losses are too big to the point of insolvency, tax payer funds are being used to bail them out. A recent report from The Star 9th July 2018, revealed that the top executives of GLCs are drawing fat salaries regardless of their company's performance. This is not surprising since most top positions in GLCs are given as a form of reward to individuals for their political loyalty rather than their expertise. I believe it’s high time the Rakyat realize and acknowledge that government can never solve our problems least of all our country's economic problem. It’s time the government divest our behemoth GLC before another one of them turns into the likes of 1MDB.
Malaysia is a blessed country. Malaysians are blessed people. We all decided to start over on 9th May 2018. It’s time for Rakyat Malaysia to be truly Merdeka and start taking responsibility for our future. It’s time for Rakyat Malaysia to tell our government we don’t need your good intentions and your handouts. It’s time for Rakyat Malaysia to have a government that acts more like an umpire and keeper of the law and nothing else. Paraphrasing Frederick Douglas, “Do nothing with us! Your doing with us has already played the mischief with us. Do nothing with us! ....And if Malaysian cannot stand on his/her own legs, let him/her fall. All we ask is, give us a chance to stand on our own legs! Let us alone!”
submitted by davidlah to malaysia [link] [comments]

Daily analysis of cryptocurrencies 20191109 (Market index 38 — Fear state)

Daily analysis of cryptocurrencies 20191109 (Market index 38 — Fear state)

https://preview.redd.it/ofi0c61nnmx31.png?width=735&format=png&auto=webp&s=c57ef91e3ce26cc1ea8ab8f0c96f17c9c5f68bf5

Malaysia To Impose Restrictions On Cash Transactions The Malaysian government plans to impose restrictions on cash transactions reports local media platform The Star. According to the publication, the move is part of efforts to combat money laundering in the country. Commenting on the plan, Datuk Abdul Rasheed Ghaffour, the deputy governor of Malaysia’s Central Bank Negara (BNM), remarked: “This is to address the abuse of physical cash used for illicit activities.” Malaysian economist, Barjoyai Bardai believes the proposed cash transaction limit in the country could boost digital currency adoption.
EU Is Working On ECB Digital Currency With Possible Progress Next Year According to Reuters, progress on the feasibility of a digital currency backed by the European Central Bank could be made in the coming months, senior officials said on Nov 8, cautioning that the project faced challenges and was for the long term.
Tunisia Issues Central Bank Digital Currency On Nov 9, the TASS news agency reported that the Central Bank of Tunisia was to be the first to release a digital currency. The ‘E-dinar’ was officially launched in the test form at the Forex Club of Tunisia, with a symbolic transfer of one dinar between the head of the central bank, Marouane El Abassi, and a representative of the International Monetary Fund (IMF).

At the time of writing, Bitcoin is trading down nearly 5% at its current price of $8,850, which marks a notable drop from its 24-hour highs of $9,300.
Prior to today’s drop, Bitcoin has been caught in a relatively tight trading range between $9,000 and $9,500 for a couple of weeks, and neither bulls nor bears had been able to incur enough strength to push the crypto out of this trading range until early this morning when bears forced it below its lower range boundary at $9,000.
In the time since its drop, BTC has shown no sign of slowing its decent, as it continued to slowly grind lower as the morning dragged on.
Review previous articles: https://medium.com/@to.liuwen

Encrypted project calendar(November 9, 2019)

CENNZ/Centrality: Centrality (CENNZ) will meet in InsurTechNZ Connect — Insurance and Blockchain on October 9th in Auckland. HTMLCOIN (HTML): 09 November 2019 (or earlier) Mandatory Wallet Update Mandatory Wallet Update: there will be a soft fork on our blockchain. This update adds header signature verification on block 997,655. Harmony (ONE): 09 November 2019 Indian Meetups Come & meet us in person on November 9th in our meetups in Bangalore & New Delhi!

Encrypted project calendar(November 10, 2019)

Bibox Token (BIX): 10 November 2019 Bibox Summit “Bibox Summit 2019 — Maximizing Profit On Uptrend Season” from 1 PM — 5 PM (ITV) in Ho Chi Minh City. TRON (TRX): 10 November 2019 AMA w/Kucoin Co-founder “Join us on Nov 10, 6:00 PM(PST) for an AMA with TOP, Co-Founder of @kucoincom , in our English Telegram group…”

Encrypted project calendar(November 11, 2019)

PAX/Paxos Standard: Paxos Standard (PAX) 2019 Singapore Financial Technology Festival will be held from November 11th to 15th, and Paxos Standard will attend the conference. Crypto.com Coin (CRO): and 3 others 11 November 2019 Capital Warm-up Party Capital Warm-up Party in Singapore. GoldCoin (GLC): 11 November 2019 Reverse Bitcoin Hardfork The GoldCoin (GLC) Team will be “Reverse Hard Forking” the Bitcoin (BTC) Blockchain…” Horizen (ZEN): 11 November 2019 (or earlier) Horizen Giveaway — Nodes Horizen Giveaway — Win Free Node Hosting! Entries before November 11th. SINOVATE (SIN): 11 November 2019 Roadmap V3 SINOVATE (SIN) Roadmap V3 will be released with new upcoming technologies and proof of concepts! 0x (ZRX): 11 November 2019 0x V3 Vote Ends “The voting period will end on November 11. Learn more about all the exciting features included in v3 below.” Akropolis (AKRO): and 4 others 11 November 2019 Kucoin Blockchain Day “KuCoin Blockchain Day Berlin 2019” from 5 PM — 9:15 PM (CET) in Berlin.

Encrypted project calendar(November 12, 2019)

BTC/Bitcoin: The CoinMarketCap Global Conference will be held at the Victoria Theatre in Singapore from November 12th to 13th Binance Coin (BNB) and 7 others: 12 November 2019 CMC Global Conference “The first-ever CoinMarketCap large-scale event: A one-of-a-kind blockchain / crypto experience like you’ve never experienced before.” Aion (AION) and 17 others: 12 November 2019 The Capital The Capital conference from November 12–13 in Singapore. Loom Network (LOOM): 12 November 2019 Transfer Gateway Update “If you have a dapp that relies on the Transfer Gateway, follow the instructions below to make sure you’re prepared.” Kava (KAVA): 12 November 2019 Updated Mainnet Launch “Our updated mainnet launch will be on Tuesday November 12th at 14:00 UTC.” Crypto.com Coin (CRO): 12 November 2019 Telegram AMA Live AMA with CRO COO and Kucoin’s Global Community Manager on KuCoin’s official English Telegram channel at 16:00 (UTC+8). Chainlink (LINK): and 1 other 12 November 2019 NYC Meetup “Ontology + Future of Blockchain in China Meetup Presented by Chainlink” in NYC from 6:30 PM — 8:30 PM.

Encrypted project calendar(November 13, 2019)

Fetch.ai (FET): 13 November 2019 Cambridge Meetup “Join us for a@Fetch_ai #Cambridge #meetup on 13 November @pantonarms1.” Binance Coin (BNB) and 5 others: 13 November 2019 Blockchain Expo N.A. “It will bring together key industries from across the globe for two days of top-level content and discussion across 5 co-located events…” OKB (OKB): 13 November 2019 Dnipro, Ukraine- Talks Join us in Dnipro as we journey through Ukraine for our OKEx Cryptour on 11 Nov. Centrality (CENNZ): 13 November 2019 AMA Meetup “Ask our CEO@aaronmcdnz anything in person! Join the AMA meetup on 13 November in Singapore.” OKB (OKB): 13 November 2019 OKEx Cryptotour Dnipro “OKEx Cryptour Ukraine 2019 — Dnipro” in Dnipro from 6–9 PM (EET). Vexanium (VEX): 13 November 2019 Dapps Incentive Program Vexanium will give an incentive for every Dapps that is submitted during this program period. Egretia (EGT): 13 November 2019 Post Consensus Invest “2019 NYC Blockchain Gaming & DeFi Party | Post Consensus Invest” in NYC from 7–9 PM. Holo (HOT): 13 November 2019 AMA “Submit your questions before the #AMA on Nov 13th @ 5PM — 5:45PM UTC”

Encrypted project calendar(November 14, 2019)

BTC/Bitcoin: The 2019 BlockShow Asia Summit will be held at Marina Bay Sands, Singapore from November 14th to 15th. Binance Coin (BNB): and 4 others 14 November 2019 BlockShow Asia 2019 BlockShow Asia 2019 at Marina Bay Sands Expo, Singapore from November 14–15. Basic Attention Token (BAT): 14 November 2019 London Privacy Meetup “If you’re in London on Nov. 14th, don’t miss our privacy meetup! The Brave research team, our CPO @johnnyryan, as well as @UoE_EFI Horizen (ZEN): 14 November 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA. IOTA (MIOTA): 14 November 2019 Berlin Meetup From Construction to Smart City: IOTA, Maschinenraum & Thinkt Digital will explain, using concrete use cases, how to gain real value from.. Dash (DASH): 14 November 2019 Q3 Summary Call “Dash Core Group Q3 2019 Summary Call — Thursday, 14 November 2019” NEO (NEO): 14 November 2019 NeoFest Singapore Meetup “Glad to have@Nicholas_Merten from DataDash as our host for #NeoFest Singapore meetup on 14th Nov!” ANON (ANON): 14 November 2019 ANONIO Wallet Upgrade In conjunction with the Echelon Update, the ANONIO wallet will also be receiving an upgrade!

Encrypted project calendar(November 15, 2019)

TRON (TRX): 15 November 2019 Cross-chain Project “The #TRON cross-chain project will be available on Nov. 15th” Bluzelle (BLZ): 15 November 2019 (or earlier) CURIE Release CURIE release expected by early November 2019. Zebi (ZCO): 15 November 2019 ZEBI Token Swap Ends “… We will give 90 days to all the ERC 20 token holders to swap out their tokens into Zebi coins.” OKB (OKB): 15 November 2019 OKEx Talks — Vilnius “Join us for a meetup on 15 Nov (Fri) for our 1st ever Talks in Vilnius, Lithuania.” Zenon (ZNN): 15 November 2019 Awareness Fund Payout “Distribution of the fund takes place every Friday until Pillars Lock-in Phase is completed.”

Encrypted project calendar(November 16, 2019)

Bancor (BNT): and 2 others 16 November 2019 Crypto DeFiance-Singapore “Crypto DeFiance is a new global DeFi event embracing established innovators, financial market disruptors, DApp developers…” NEM (XEM): 16 November 2019 Developer’s Event “BLOCKCHAIN: Creation of Multifirma services” from 10:50 AM — 2 PM.

Encrypted project calendar(November 17, 2019)

OKB (OKB): 17 November 2019 OKEx Talks — Lagos Join us on 17 Nov for another OKEx Talks, discussing the “Life of a Crypto Trader”.

Encrypted project calendar(November 18, 2019)

Maker (MKR): 18 November 2019 MCD Launch “BIG changes to terminology are coming with the launch of MCD on Nov. 18th Say hello to Vaults, Dai, and Sai.”

Encrypted project calendar(November 19, 2019)

Lisk (LSK): 19 November 2019 Lisk.js “We are excited to announce liskjs2019 will take place on November 19th. This all day blockchain event will include…”

Encrypted project calendar(November 20, 2019)

OKB (OKB): 20 November 2019 OKEx Cryptour Odessa Ukr “Join us in Odessa as we journey through Ukraine for our OKEx Cryptour!

Encrypted project calendar(November 21, 2019)

Cardano (ADA): and 2 others 21 November 2019 Meetup Netherlands (AMS) “This meetup is all about how to decentralize a blockchain, the problems and differences between Proof-of-Work and Proof-of-Stake…” Cappasity (CAPP): 21 November 2019 Virtuality Paris 2019 “Cappasity to demonstrate its solution for the interactive shopping experience at Virtuality Paris 2019.” Horizen (ZEN): 21 November 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA. OKB (OKB): 21 November 2019 OKEx Talks — Johannesburg “Join us the largest city of South Africa — Johannesburg where we will host our OKEx Talks on the 21st Nov.” IOST (IOST): 22 November 2019 Singapore Workshop Join the Institute of Blockchain for their 2nd IOST technical workshop in Singapore on 22 Nov 2019. The workshop includes IOST’s key tech. OKB (OKB): 22 November 2019 St. Petersberg Talks “Join us in St. Petersberg on 22 Nov as we answer your questions on Crypto Security. “

Encrypted project calendar(November 22, 2019)

IOST (IOST): 22 November 2019 Singapore Workshop Join the Institute of Blockchain for their 2nd IOST technical workshop in Singapore on 22 Nov 2019. The workshop includes IOST’s key tech OKB (OKB): 22 November 2019 St. Petersberg Talks “Join us in St. Petersberg on 22 Nov as we answer your questions on Crypto Security. “

Encrypted project calendar(November 27, 2019)

OKB (OKB): 27 November 2019 OKEx Cryptour Vinnytsia “Join us in Vinnytsia as we journey through Ukraine for our OKEx Cryptour!” Fetch.ai (FET): 27 November 2019 London Meetup “Join us on 27 November @primalbasehq to hear an exciting progress report as we prepare for the launch of our #mainnet”

Encrypted project calendar(November 28, 2019)

Horizen (ZEN): 28 November 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.

Encrypted project calendar(November 30, 2019)

Ethos (ETHOS): 30 November 2019 (or earlier) Rebranding “In November, we unveil the broker token, a dynamic utility token to power our commission-free crypto trading and broker platform, Voyager.” Digitex Futures (DGTX): 30 November 2019 Public Testnet Launch “…We can expect to see the world’s first zero-commission futures trading platform live on the Ethereum public testnet from 30th November.” Monero (XMR): 30 November 2019 Protocol Upgrade “Preliminary information thread regarding the scheduled protocol upgrade of November 30.” Chiliz (CHZ): 30 November 2019 (or earlier) Fiat to CHZ Exchanges “We will add another two fiat to $CHZ exchanges in November…” Skrumble Network (SKM): 30 November 2019 (or earlier) P2P & Group Calling “P2P & Group Video Calling,” during November 2019. Aergo (AERGO): 30 November 2019 (or earlier) Mainnet 2.0 Upgrade Mainnet 2.0 Protocol update by end of November. Akropolis (AKRO): 30 November 2019 (or earlier) Beta Release “All functionality has been deployed to mainnet.” Nash Exchange (NEX): 30 November 2019 (or earlier) Mobile Strategy Phase 2 “Phase 2 of our mobile strategy will be live soon with our wallet and portfolio app hitting stores in November!”

Encrypted project calendar(November 31, 2019)

Wanchain (WAN): 31 December 2019 (or earlier) Wanchain 4.0 Release Wanchain 4.0, which introduces private chains integration and multi-coin wallet, released in Dec 2019. QuarkChain (QKC): 31 December 2019 (or earlier) Token Testnet Release Testnet for Multi-Native-Token and New Consensuses.

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Message from BNM Governor MI

My dear colleagues,
No doubt many of you have read, listened or watched the news and social media coverage on the speculation of me vacating the Governor’s position. In fact, you were probably queried and asked by numerous family and friends on the validity of these reports.
This morning, I thought it is important that I speak to you candidly on this matter.
When I took office in May 2016, I vowed to execute the responsibility of the office of the Governor with the highest level of professionalism, integrity and honour. Over the past few weeks, there have been serious questions raised if I have fallen short of this standard and put at risk public confidence in the Bank.
As a central bank, we are only as effective as the trust and confidence that the people of Malaysia and its leaders place in us.
I am prepared to relinquish my post if I no longer have the strong trust and support of the public. I cannot in good conscience continue if it affects the Bank’s image and reputation.
We are judged by the decisions we make, like for example the recent purchase of Lot 41, acquired at RM850 per square foot, which has attracted wide public interest.
The perception is that the purchase of the land was made to intentionally aid and abet the misappropriation of public funds pertaining to the corruption and scandal surrounding 1MDB. This is totally untrue. Bank Negara Malaysia will never be party to any such activities that would betray the public trust in us. We abhor any semblance of corruption and abuse of power.
Skeptical as many may be, the Bank did not know nor did we have any control over the proceeds of the land purchase that would be used to settle 1MDB’s obligations. It is simply unthinkable for us to be associated with such a controversial entity mired with accusations of fraud and mismanagement. It is not in our nature to do such things. We even took enforcement action against them earlier.
The 1MDB scandal has cost the country dearly and as a Malaysian myself, I am deeply angered, distressed and outraged. This is indeed a matter of significant public focus and I can understand why any association with the scandal, unintended or otherwise, is invariably met with a strong sense of public outrage.
My priority now is for the Bank to move forward and continue to focus on delivering its mandates to serve the Malaysian people.
My dear colleagues,
The purchase of Lot 41 land was not the first time we have done such a transaction. As many of you would know, we have over the years, acquired several pieces of land throughout the country to enable the discharge of our mandates. Our own headquarters presently were built on three separate land acquisitions made in the 1950s and 1980s. The Bukit Perdana land, acquired in 2013 at the price of RM1,235 per square foot was also based on an independent professional valuer, upon which the ongoing construction of the Asian School of Business and the Financial Industry Training Centre are being done, are also the nearest examples.
We have also always wanted to create greater synergies between our numerous affiliated institutions and ensure talent development for the financial sector workforce. With this objective in mind, we indicated our interest as early as September of 2016. We initiated the purchase of the land a year later when we knew that there was an emergent interest by the Government then to sell this land. We believe that it was an excellent opportunity to secure an asset on fair terms that will be central to sustain our future long-term growth. We have a vision for a Financial Education Hub that will also host among others, a global Islamic finance university, a Shariah academy and research centre, a financial services library, innovation labs, a cybersecurity operations centre and an integrated security command centre.
We ensured that everything was done in the right manner, with proper governance and accountability, including compliance with all relevant laws. Internally, we deliberated this at a number of Board meetings. We even recommended to the Government for the sale to be best done by way of a public tender which we would be glad to participate competitively in along with any other interests. We also chose to publish a press release in January 2018 to inform the public of the purchase in our effort to be transparent.
Coming out fresh from the experience of a Royal Commission of Inquiry on forex losses of thirty-years past, the Bank was careful to make sure everything is above board. We knew that we need to pass the test of public scrutiny in everything we do to maintain our reputation and confidence of the public.
For more than 34 years, I have always strived to serve, to do my best in the interest of the country, its values and its people. The office of the Governor is a heavy responsibility with great capacity for good. It is also a privilege, as it entails working with possibly the best talents Malaysia has to offer. Malaysia is at a critical juncture in our history, it is important for us to stand united as an institution in rising to the occasion. The Malaysian people expect nothing less than our full dedication and commitment.
This institution is bigger than any individual, and I truly believe our best days are ahead of us. Let us draw courage, lessons and strength from this.
Thank you.
Regards,
Muhammad bin Ibrahim Governor
submitted by loyalismi to malaysia [link] [comments]

FX United is a scam/ponzi scheme, avoid at all costs

There has been for the last few months another multi-level marketing (pyramid) scam going on in South East Asia and it is going under the guise of an FX trading company registered under the name United Global Holdings (in New Zealand) where insane returns and bonuses are promised if you sign more people under you and have them sign up more people etc. Some simple research and logical thinking would show that this is indeed a ponzi scheme as such incredible returns are really not possible with what they show to be their business model. Some further research will show that their operating address in New Zealand is fake and over 90% of all the websites traffic as of now is coming from Malaysia, which means it's a scam aimed at Malaysians. However, they have moved on to Thailand and they are going to open up an office in Bangkok, Lat prao and are now aiming at Thai investors and expats living in Thailand. They have also moved on to the Philippines.
Bank Negara (Central Bank of Malaysia) and the Financial Markets Authority of New Zealand has already given out warnings against the company:
http://www.bnm.gov.my/documents/2016/20160505_FCA_EN.pdf
http://fma.govt.nz/news/warnings-and-alerts/a-z-list-of-all-fma-warnings/#F
The following link also busts some of the other supposed information and the comments section also has some good info: http://behindmlm.com/mlm-reviews/fx-united-review-300-to-10000-cgat-forex/
Please tell everyone you know to avoid this at all costs.
submitted by willeatformoney to Thailand [link] [comments]

FX United is a total scam/ponzi scheme

There has been for the last few months another multi-level marketing (pyramid) scam going on in Malaysia and it is going under the guise of an FX trading company registered under the name United Global Holdings (in New Zealand) where insane returns and bonuses are promised if you sign more people under you and have them sign up more people etc. Some simple research and logical thinking would show that this is indeed a ponzi scheme as such incredible returns are really not possible with what they show to be their business model. Some further research will show that their operating address in New Zealand is fake and over 90% of all the websites traffic is coming from Malaysia, which means it's a scam aimed at Malaysians.
Bank Negara and the Financial Markets Authority of New Zealand has already given out warnings against the company:
http://www.bnm.gov.my/documents/2016/20160505_FCA_EN.pdf
http://fma.govt.nz/news/warnings-and-alerts/a-z-list-of-all-fma-warnings/#F
The following link also busts some of the other supposed information and the comments section also has some good info:
http://behindmlm.com/mlm-reviews/fx-united-review-300-to-10000-cgat-forex/
Please tell everyone you know to avoid this at all costs.
submitted by willeatformoney to malaysia [link] [comments]

KiniFlash - 19 Sep: Bank Negara Forex RCI wraps up ahead of schedule EVENING 5: BNM lost RM31.5b in forex scandal, says RCI 'Kerana forex, saya juga berundur dari Bank Negara' Skandal Forex 1991, Bekas Gabenor Bank Negara Tan Sri Zeti Sedia Beri Kerjasama KiniFlash - 30 Nov: RCI on forex losses pins blame on Nor Mohamed Yakcop 'Without forex losses, Bank Negara would have RM100 billion more' Skandal Forex 1991, Kerajaan & Gabenor Bank Negara 1990-An Bertanggungjawab

Bank Negara Jun 22, 2017 - The losses from BNM's forex trading, alleged to be more than to have forex rate bank negara happened between 1987 and entry signals forex trading 1992 when the exchange rate had Dec 2, 2016 - Bank Negara Malaysia announces measures to boost forex market FMC said all ringgit proceeds from exports can earn a higher rate The role and function of Bank Negara Malaysia ... Lim went on to write a book titled The Bank Negara RM30 Billion Forex Losses Scandal on the matter and made regular calls for a RCI to investigate the case. In February, the Cabinet formed a special taskforce to investigate Murad’s allegations, which culminated in yesterday’s announcement that an RCi will be convened to investigate. Related Articles. Dr Mahathir offers 10pc of pension to ... Malaysia is an emerging economy that is attracting a lot of investors many of whom are Forex trading investors. However, it has not been easy for Forex traders given the tough restrictions that have been in place over the recent past years by the Central Bank of Malaysia (Bank Negara Malaysia). Bank Negara was once the largest player in the international currency market and in April 1991, Reuter described it as “a dominant force in the foreign exchange scene for some years.” Rosli said that reasonable profits made before 1992 – 93 was the impetus incentive for Bank Negara to gamble in forex in a major way. Business Banking. BNI Business Banking; Transactional Banking Services; Industrial Sectors; Funding; Lending; Services; International. Trade Finance. Export (LC dan ... Bank Negara Forex. By bang_tygaz On 29 April 2019 In Forex No Comments . Share This: tweet. Photos of the Bank Negara Forex You may also like. 11 Common Myths About Vps Forex Hosting . 11 Common Myths About Vps Forex Hosting – vps forex hosting LIMASSOL, CYPRUS–(Marketwired – May 28, 2013) – Fozzy Inc., provider of ultra-fast aggregate and VPS hosting solutions, today announces its ... It's also worth noting that Bank Negara Malaysia, which is the Central Bank of Malaysia that regulates money service businesses and forex dealers, issued guidelines for digital currencies (cryptocurrency) requiring companies to comply when dealing with crypto assets. More Forex Guides. Best Forex Brokers 2020; Best Forex Brokers for Beginners 2020 As Malaysia's Central Bank, Bank Negara Malaysia promotes monetary stability and financial stability conducive to the sustainable growth of the Malaysian economy. Jalan Dato' Onn, 50480 Kuala Lumpur, Malaysia; 1300 88 5465 (BNMTELELINK) +603 2698 8044 (General line) [email protected] Welcome to the Central Bank of Malaysia official portal. As Malaysia's Central Bank, Bank Negara Malaysia promotes monetary stability and financial stability conducive to the sustainable growth of the Malaysian economy Sebagai Bank Pusat bagi Malaysia, Bank Negara Malaysia berusaha mewujudkan kestabilan monetari dan kewangan yang kondusif bagi pertumbuhan ekonomi Malaysia yang mampan Bank Negara is Malaysia’s central bank and controls everything related to the Ringgit. It also advises the government regarding the financial standing of the economy and is also actively involved in everything to do with trading forex in Malaysia.

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KiniFlash - 19 Sep: Bank Negara Forex RCI wraps up ahead of schedule

KiniFlash - 19 Sep: Bank Negara Forex RCI wraps up ahead of schedule ... the hearings for the Royal Commission of Inquiry into Bank Negara's foreign exchange losses from over two decades ago ... Bank Negara lost RM31.5bil between 1991 and 1994, RCI concludes; PNB says it wants to hold less cash; and Malakoff and Nestle see quarterly earnings shrink. Jaqueline P’ng has the details. The Royal Commission of Inquiry into Bank Negara’s forex losses released its report today revealing losses amounting to 31.5 billion ringgit in foreign exchange trading between 1992 and 1994. Skandal Forex 90an - Anwar Ibrahim ... 'Kerana forex, saya juga berundur dari Bank Negara' - Duration: 0:50. KiniTV 8,396 views. 0:50. Victor Davis Hanson on “The Case For Trump” - Duration: 1 ... Bekas Gabenor Bank Negara Malaysia, Tan Sri Dr Zeti Akhtar Aziz sedia bekerjasama dalam siasatan kerugian tukaran asing, Bank Pusat itu pada 1990 an. Zeti be... Bekas Penasihat Bank Negara Malaysia, Tan Sri Nor Mohamed Yakcop tidak pernah berbincang dengan Menteri Kewangan dan Perdana Menteri tentang urus niaga mata wang asing Bank Negara bagi tempoh 1986 ... Bank Negara Malaysia's (BNM) US$10 billion foreign exchange losses incurred in the 1990s have had a huge impact on its foreign reserves today, claimed a former assistant governor of the central ...

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