Fraud Alert: Don’t Trust These Firms, SC Malaysia Warns
Abstract：Investors, Pay Attention! This is a serious warning from the Securities Commission Malaysia against 5 scam brokers operating in the forex market without a legal license. Here is the list of 5 fake brokers you must avoid.
Investors, Pay Attention! This is a serious warning from the Securities Commission Malaysia against 5 scam brokers operating in the forex market without a legal license. Here is the list of 5 fake brokers you must avoid.
1. TS Pro
2. X Trader AI
3. HSBC Private Banking
4. Questrade
5. Bit 2 Invest
The Authority Stated
This list contains the names of unauthorised entities and individuals. You are advised not to deal with or invest through them. If you invest through unauthorised entities and individuals, you will not be protected under Malaysian securities laws.
Find the Investor Alert List
The latest list is available on the official website of the Securities Commission Malaysia. To view it, visit the website, go to the Investor Empowerment section, select Investor Alert List, and there you can see the list of scam brokers.
How to Protect Yourself from Scam Brokers
1. Verify the Brokers License
2. Avoid Unregulated Brokers
3. Cross-Check Contact Information
4. Dont Fall for “Too Good to Be True” Promises
5. Test with a Demo Account First
6. Read Online Reviews
7. Do Your Research
8. Dont Rush
9. Report Suspicious Activity
10. Keep Records
Join WikiFX Community
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4. Scan the code again to complete the process
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