Reason for this visit

Malaysia boasts a relatively developed forex market, where the forex brokers provide a high level of services. The local forex industry featuring a high concentration is experiencing a revolution under the pressure from financial technology. As the major regulator of forex broker in the country, the Securities Commission Malaysia (SC) has been vigorously enhancing risk management and regulations for customer protection in recent years, requiring brokers to increase their transparency, and strengthening investors education. Recently, plenty of investors have expressed their hope to know more details about the forex brokers in Malaysia. In order to help investors or practitioners to gain a more comprehensive understanding of forex brokers in Malaysia, WikiFX survey team decides to go to the country for on-site visits to local companies.

On-site visit

In this issue, the survey team went to Malaysia to visit forex broker EC Investment Bank (licensee: European Credit Investment Bank Ltd.) as planned according to its regulatory address that Level 32, Unit 2 & 3 Menara 1 Strata Office (SO) 3 Jln Bangsar KLEC 59200 Kuala Lumpur.

The investigators came to 3 Jalan Bangsar in KL Eco City of Kuala Lumpur, Malaysia, and located the Menara 1, a high-rise modern office building, in the citys prosperous district. The building boasts convenient connectivity.

Upon arrival at the building for further investigation, the survey personnel noticed a directory on the wall of the lobby, which prominently displayed that unit 32-02 was occupied by “EC Investment Bank,” and unit 32-03 was occupied by “Unity of Wealth LTD.”

The inspection team then took the elevator to the 32nd floor and discovered the office of EC Investment Bank, with its company name and logo displayed conspicuously. However, people were not allowed to enter it without an access card or an appointment in advance.

Through the on-site investigation, it is confirmed that the broker has a physical presence at the place.

Conclusion

The survey team went to Malaysia to visit forex broker EC Investment Bank as scheduled, and found the company at its regulatory address. It suggests that the broker has a physical business office at the location. Meanwhile, investors are advised to make an informed decision following much deliberation.

Disclaimer

The content is for informational purpose only, and shall not be taken as a final order for making a choice.