Is HotForex legal in Malaysia?

Is HotForex legal in Malaysia?

Is HotForex legal in Malaysia?

As a Malaysian trader you can open an account at HotForex, but will need to meet all the minimum deposit amounts to do so; these are: Micro Account: 5 USD/50 MYR. Premium Account: 100 USD. ZERO Spread: 200 USD.

Can I withdraw all my money from HotForex?

You can withdraw at any time from the funds that are surplus to any margin requirement. To request a withdrawal, simply login to myHF area (your Client Area) and select ‘Withdraw’. Withdrawals submitted before 10:00am server time are processed on the same business day between 7:00am and 5:00pm server time.

How long does it take to withdraw from HotForex to bank account?

Making withdrawals easy

Withdrawal Options Min. Withdrawal Amount Withdrawal Time
Credit/Debit Cards
5 USD From 2 to 10 business days, depending on your correspondent bank

Does HotForex accept Verve card?

Nigerian Credit/Debit Cards (recommended as it is almost instant): You can Add funds in your Hotforex account via your debit/credit cards as well. Currently they accept deposits via a range of credit cards including MasterCard, Visa cards & even Verve cards.

Which forex broker is legal in Malaysia?

Malaysian Forex Brokers Comparison

Forex Broker Accepts MY Residents Minimum Deposit
AvaTrade Yes $100.00
Admiral Markets Yes 100
IC Markets Yes $200
OANDA Yes $0.00

Which platform is best for trading Malaysia?

Best Trading Platforms Malaysia Reviewed

  • eToro – Overall Best Stock Broker in Malaysia.
  • Huobi – Excellent Trading Platform to Trade Crypto in Malaysia.
  • Inceptial – Excellent Forex Trading Platform in Malaysia.
  • FXVC – Top-Rated Stock Broker in Malaysia.
  • Libertex – Best Broker in Malaysia and Singapore for ZERO Spreads.

How do I get a HotForex Mastercard?

Requesting a HotForex debit card can be done once you have a funded HotForex account. You can contact HotForex support and request the debit card. You will be charged the card issuing fee and the famous HotForex Mastercard will be shipped to you.

What is the maximum withdrawal on HotForex?

Maximum amount that can be withdrawn to the card per month is $5000.

How do I get a HotForex MasterCard?

Is FXTM better than HotForex?

After rigorously testing both brokers and putting each through our accurate and extensive reviewing process, we have concluded that FXTM is the better of the two. FXTM offers 250+ instruments, licenses from FCA, CySec, FSCA, FSC, and fair trading fees.

Can Malaysian trade forex?

Forex trading is only allowed in Malaysia when you trade with licensed commercial banks, Islamic banks, investment banks, and international Islamic banks.

What is the hotforex debit card?

The HotForex debit card allows its owners to instantly use their funds for shopping or ATM withdrawals. All you have to do is to transfer money from the MyHotforex balance to the HotForex debit card balance, and you can instantly use it everywhere mastercard is accepted.

Are there any additional charges on my Malaysia Airlines credit card?

The additional charges are not imposed nor collected by Malaysia Airlines. This policy is implemented by certain banks and shall be reflected in your upcoming credit card statement from your issuing bank.

Does hotforex offer crypto CFDs in Malaysia?

While some traders will be disappointed that HotForex no longer offers crypto CFDs in Malaysia, the range and depth of assets available to trade are impressive and much more than is normally seen at other similar brokers.

Where can I use hotforex?

It is accepted world-wide, and can be used for online purchases as well as for point-of-sale payments and ATM withdrawals. HotForex is a forex broker operating out of the island of Mauritius.