Authorized Forex Brokers In Malaysia

Following are list of authorized forex broker in Malaysia, which provided by BNM.

List of Authorised Dealers of Foreign Currency Pursuant to Section 2 of the Exchange Control Act 1953

  1. Affin Bank Berhad
  2. Affin Islamic Bank Berhad
  3. Al Rajhi Banking & Investment Corporation (Malaysia) Berhad
  4. Alliance Bank Malaysia Berhad
  5. Alliance Islamic Bank Berhad
  6. AmBank (M) Berhad
  7. AmIslamic Bank Berhad
  8. Asian Finance Bank Berhad
  9. Bangkok Bank Berhad
  10. Bank Islam Malaysia Berhad
  11. Bank Muamalat Malaysia Berhad
  12. Bank of America Malaysia Berhad
  13. Bank of China (Malaysia) Berhad
  14. Bank of Tokyo-Mitsubishi UFJ (Malaysia) Berhad
  15. CIMB Bank Berhad
  16. CIMB Islamic Bank Berhad
  17. Citibank Berhad
  18. Deutsche Bank (Malaysia) Berhad
  19. EON Bank Berhad
  20. EONCAP Islamic Bank Berhad
  21. Hong Leong Bank Berhad
  22. Hong Leong Islamic Bank Berhad
  23. HSBC Amanah Malaysia Berhad
  24. HSBC Bank Malaysia Berhad
  25. Industrial & Commercial Bank of China (Malaysia) Berhad
  26. J.P. Morgan Chase Bank Berhad
  27. Kuwait Finance House (Malaysia) Berhad
  28. Malayan Banking Berhad
  29. Maybank Islamic Berhad
  30. OCBC Al-Amin Bank Berhad
  31. OCBC Bank (Malaysia) Berhad
  32. Public Bank Berhad
  33. Public Islamic Bank Berhad
  34. RHB Bank Berhad
  35. RHB Islamic Bank Berhad
  36. Standard Chartered Bank Malaysia Berhad
  37. Standard Chartered Saadiq Berhad
  38. The Bank of Nova Scotia Berhad
  39. The Royal Bank of Scotland Berhad
  40. United Overseas Bank (Malaysia) Berhad


List of Financial Institutions Permitted by the Controller of Foreign Exchange to Buy or Sell Foreign Currency
  1. Affin Investment Bank Berhad
  2. Alliance Investment Bank Berhad
  3. Al Rajhi Banking & Investment Corporation
  4. AmInvestment Bank Berhad
  5. CIMB Investment Bank Berhad
  6. Deutsche Bank Aktiengesellschaft
  7. ECM Libra Investment Bank
  8. Hong Leong Investment Bank Berhad
  9. Hwang-DBS Investment Bank Berhad
  10. KAF Investment Bank Berhad
  11. Kenanga Investment Bank Berhad
  12. Maybank Investment Bank Berhad
  13. MIMB Investment Bank Berhad
  14. OSK Investment Bank Berhad
  15. Public Investment Bank Berhad
  16. PT. Bank Syariah Muamalat Indonesia, Tbk
  17. RHB Investment Bank Berhad
  18. Unicorn International Islamic Bank Malaysia Berhad

Original Link: http://www.bnm.gov.my/index.php?ch=17&pg=697&ac=606



What is Forex?

What is Forex Trading? Forex is all about MONEY.

Foreign Exchange (FOREX) is the arena where a nation's currency is exchanged for that of another. The foreign exchange market is the largest financial market in the world, with the equivalent of over $4 TRILLION a day trade volume; more than three times the aggregate amount of the US Equity and Treasury markets combined. Unlike other financial markets, the Forex market has no physical location and no central exchange (off-exchange). It operates through a global network of banks, corporations and individuals trading one currency for another. The lack of a physical exchange enables the Forex market to operate on a 24-hour basis, spanning from one zone to another in all the major financial centers.



Currencies

Symbol Country Currency Nickname
USD United States Dollar Buck
EUR Euro zone members Euro Fiber
JPY Japan Yen Yen
GBP Great Britain Pound Cable
CHF Switzerland Franc Swissy
CAD Canada Dollar Loonie
AUD Australia Dollar Aussie
NZD New Zealand Dollar Kiwi

Currency symbols always have three letters, where the first two letters identify the name of the country and the third letter identifies the name of that country's currency.

Take USD for instance. US stands for United State, while D stands for dollar. Easy enough, right?

The currencies included in the chart above are called the "majors" because they are the most widely traded ones.



Forex Market Sessions

The forex market can be broken up into four major trading sessions: the Sydney session, the Tokyo session, the London session, and the New York session. Below are tables of the open and close times for each session:

Summer

Time Zone EDT GMT GMT+8(Malaysia)
Sydney Open
Sydney Close
6:00 PM
3:00 AM
10:00 PM
7:00 AM
6:00 AM
3:00 PM
Tokyo Open
Tokyo Close
7:00 PM
4:00 AM
11:00 PM
8:00 AM
7:00 AM
4:00 PM
London Open
London Close
3:00 AM
12:00 PM
7:00 AM
4:00 PM
3:00 PM
12:00 AM
New York Open
New York Close
8:00 AM
5:00 PM
12:00 PM
9:00 PM
8:00 PM
5:00 AM

Winter

Time Zone EST GMT GMT+8(Malaysia)
Sydney Open
Sydney Close
4:00 PM
1:00 AM
9:00 PM
6:00 AM
5:00 AM
2:00 PM
Tokyo Open
Tokyo Close
6:00 PM
3:00 AM
11:00 PM
8:00 AM
7:00 AM
4:00 PM
London Open
London Close
3:00 AM
12:00 PM
8:00 AM
5:00 PM
4:00 PM
1:00 AM
New York Open
New York Close
8:00 AM
5:00 PM
1:00 PM
10:00 PM
9:00 PM
6:00 PM



Which Day to Trade?

In fact in forex trading world, there are also particular days in the week where the forex markets tend to show more movement. Following is a table of average pip movement for the major pair for each day of the week.

Pair Sunday Monday Tuesday Wednesday Thursday Friday
EUR/USD 69 109 142 136 145 144
GBP/USD 73 149 172 152 169 179
USD/JPY 41 65 82 91 124 98
AUD/USD 58 84 114 99 115 111
NZD/USD 28 81 98 87 100 96
USD/CAD 43 93 112 106 120 125
USD/CHF 55 84 119 107 104 116
EUR/JPY 19 133 178 159 223 192
GBP/JPY 100 169 213 179 270 232
EUR/GBP 35 74 81 79 75 91
EUR/CHF 35 55 55 64 87 76

Before analyse the table above, the table above is created base on westen countries. For malaysian, our market time actually start at monday morning and ended at saturday morning.

Anyway, let see the table above, Malaysia Forex Trading know you are clever enough to discover that it is best to trade during the middle of the week, since this is the moment when most movement happened.

Other than that, these are some good time and bad time to trade in forex trading.

when to trade in forex

1. When two sessions are overlapping.
2. The European session since most movement happened in this session.
3. The middle of the week typically shows the most movement.

when not to trade in forex

1. Holidays. When everyone is out of market and enjoy their holidays.
2. First day and last day of the week, which tend to be thin market.
3. Major news event, which might cause you a lot of losses.



How do we make money in Forex Trading?

So how do we actually make money in Forex trading?

In the forex market, we buy or sell currencies. The object of forex trading is to exchange one currency for another in the expectation that the price will change, so that the currency you bought will increase in value compared to the one you sold.

For example, you bought 10,000 Euros at EUR/USD at exchange rate of 1.1000.

So, you have -11,000 USD and 10,000 Euros for the moment

Few Weeks later, you exchange your 10,000 euros back into U.S. dollar at the exchange rate of 1.2000, and you get 12,000 USD.

12,000 - 11, 000 = 1,000 USD.

Now, you earned yourselves 1,000 USD because of different exchange rate.



Forex Education Material

After a series of introduction on Forex trading world, Malaysia Forex Trading Strongly Suggest you read through this. This  link contains a comprehensive study material on technical analysis on forex, for example, candle stick, support and resistance and so on.