It's a simple statement of facts and by and large, it is representative of how many Malaysians are entering this space right now not through any grand scheme or planning but by dint of habit and curiosity.
Forex isn't new to Malaysia either but it is being tackled quite differently. Four to five years ago novices were taught Forex with bad, ad-filled Youtube videos and now we are seeing actual communities, active Telegram channels, proper local meetups in KL and Penang, even actual Mentorship programs that work, that help build this knowledge base for people that otherwise lack it. Frankly, barriers to entry are so, so low for you to even conceive of this possibility. So why Malaysia specifically? I suppose for a few reasons. First, the USD vs ringgit exchange is a currency pair that most people recognize. Banks Negara views retail Forex Trading neutrally (not to be confused with being pro) however, the pursuit is not forbidden and trading under licensed forex brokers or offshore where proper regulations exist is allowed. The latter is the normal route many serious traders take in Malaysia and usually involve using a MetaTrader based trading interface which typically provides favorable leverage and spreads. The time zone of the country allows traders to operate around working hours and capitalize on the Asian and European trading sessions without having to sacrifice entire sleep cycles. One can begin the session before their work day ends, take a look during their lunch break and even monitor for any significant volatility swings before heading to bed. So how does one start actually making money? As with everything that requires serious capital, one doesn't dive straight in. The typical path is pretty much this; open a demo account, proceed to lose the imaginary money in numerous unique and creative ways, get thoroughly humbled, and open a real money account with capital you can afford to lose all 100% of. Often that might be anywhere between RM500-RM1,000, some smaller with less than that. Now, what separates most from the small amount of them who actually make it to a third month from the huge majority who don't? It is often said it is neither talent or luck, though both undoubtedly play a role (especially on the short term), it is risk check this management. Everyone I have spoken to essentially agrees. Their sole target for the first six months of trading on a live account is to not blow the entire account. A difficult target to meet with Instagram flooded with selectively taken screenshots of people claiming to have made 400% in gains overnight. Most of those are lies by the way.
Forex isn't new to Malaysia either but it is being tackled quite differently. Four to five years ago novices were taught Forex with bad, ad-filled Youtube videos and now we are seeing actual communities, active Telegram channels, proper local meetups in KL and Penang, even actual Mentorship programs that work, that help build this knowledge base for people that otherwise lack it. Frankly, barriers to entry are so, so low for you to even conceive of this possibility. So why Malaysia specifically? I suppose for a few reasons. First, the USD vs ringgit exchange is a currency pair that most people recognize. Banks Negara views retail Forex Trading neutrally (not to be confused with being pro) however, the pursuit is not forbidden and trading under licensed forex brokers or offshore where proper regulations exist is allowed. The latter is the normal route many serious traders take in Malaysia and usually involve using a MetaTrader based trading interface which typically provides favorable leverage and spreads. The time zone of the country allows traders to operate around working hours and capitalize on the Asian and European trading sessions without having to sacrifice entire sleep cycles. One can begin the session before their work day ends, take a look during their lunch break and even monitor for any significant volatility swings before heading to bed. So how does one start actually making money? As with everything that requires serious capital, one doesn't dive straight in. The typical path is pretty much this; open a demo account, proceed to lose the imaginary money in numerous unique and creative ways, get thoroughly humbled, and open a real money account with capital you can afford to lose all 100% of. Often that might be anywhere between RM500-RM1,000, some smaller with less than that. Now, what separates most from the small amount of them who actually make it to a third month from the huge majority who don't? It is often said it is neither talent or luck, though both undoubtedly play a role (especially on the short term), it is risk check this management. Everyone I have spoken to essentially agrees. Their sole target for the first six months of trading on a live account is to not blow the entire account. A difficult target to meet with Instagram flooded with selectively taken screenshots of people claiming to have made 400% in gains overnight. Most of those are lies by the way.