GMI and WeTrade Cease Malaysian Operations As 'Strictest' Financial Advertising Guidelines Loom

Two trading platforms—GMI and WeTrade—are restricting access for Malaysian clients in response to newly tightened financial regulations.

WeTrade has quietly updated its terms of service to block Malaysian registrations. Users attempting to sign up now receive a notice stating: “WeTrade is unable to provide its products or services in your area due to regulatory restrictions. ” The company has not issued any public comment on the policy change.

GMI has publicly announced it will cease accepting new clients and introducing broker (IB) applications from Malaysia starting September 15. Existing Malaysian clients will be allowed to close open positions and withdraw funds over the following month.

These restrictions follow the Securities Commission Malaysia’s (SC) incoming stricter Guidelines on Advertising of Capital Market Products & Services, set to take effect on November 1. The updated framework imposes severe limits on broker and IB marketing activities, extending regulatory oversight to Finfluencers on social media, as well as unlicensed brokers and their representatives. Know more details here.

Violations under the new rules result in substantial fines and possible imprisonment. The measures are part of a broader effort to enhance investor protection and tighten control over financial products offered to retail clients.

For Malaysian traders, the abrupt withdrawal of international brokers underscores the country’s rising regulatory barriers. For brokers, the compliance risks appear too steep to justify continued operations under current conditions.