How to trade forex in Malaysia?
A few years ago the National Council on Islam in Malaysia banned professors of this religion to
trade in currency, recognizing such operations as violating the laws of Islam. This is stated in the
fatwa issued by the council.
At the same time, according to the fatwa, the currency exchange, made in banks or at specialized
points, does not contradict the laws of Islam. Muslims need to avoid participation in currency
trading, as it can be speculated on. Currency exchange, for example, via the Internet, does not
allow you to accurately understand what kind of result each side of the process will get.
But nowadays, as the level of life in the country is growing and the standard of living are
improving, Forex in Malaysia is becoming more and more popular. As it was mentioned above,
only a few years ago, the practice of trafficking was actually illegal, but now it has become legal.
There are still some state and religious organizations that believe that this is outlaw. So, there are
still some queries in this sphere, while others already started to try luck on trade.
The popularity of Forex is getting higher, so the choice of brokers, available for trading, is also
getting wider, and that’s definitely a food news for Malaysia. The best experience in such
conditions is guaranteed.
Licensed broker is the main condition for trading for Malaysians. So the choice must be made
wisely. Such broker will make every effort to provide you with only the best that the Forex
market has to offer. Licensed organizations spend time on trading and research to make sure that
they meet our high expectations.