Malaysian SC Adds FXOpen to Its Investor Alert List

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.