Asked by Anonymous
Asked on 09 Nov 2018
As for all the brokerage account or investment plan, are those only open for Singaporean only?
Top Contributor (Sep)
No offence but investing using our currency should already be a decent appealing factor.
We also have MAS being the watchdog of all licensed investment options and you can trust them to do a good job.
We're also known for being an investment hub so there's opportunity to invest in the rest of the world as well. There are many more efficient markets and opportunities outside both of our countries.
As a Malaysian citizen, you are eligible to put money into the EPF, which is malaysia's version of CPF. You can also consider opening an SRS account and contribute money into it regularly so that you can get tax relief, and used said monies for investment purposes- Stashaway can be invested via SRS. Also, MoneyOwl and Endowus who carry the excellent Dimensional Funds are working to become SRS certified!
Some advice about a Malaysian forex broker
According to the regulatory information from LFSA(Labuna Financial Services Authority), the licensed office of MXC Group in Malaysia is at Unit Level 14 (B) & 14 (C), Main Office Tower, Financial Park Labuan Complex, Jalan Merdeka, 87000 Labuan F.T. Recently, WikiFX team visited the forex broker in Malaysia.
We saw a beautiful lobby as we arrived at the Financial Park Labuan Complex. But we couldn’t find MXC Group when we reached level 14, as 14(B)&(C) which was supposed to be the broker’s office turned out to Regus Management instead. The company staff told us that although MXC Group registered with this address, the broker’s office wasn’t here, nor did its employees work in the building.
The range of investments and safety of them are much better here. They are open to pretty much everyone, unless you're a US citizen.