SC Malaysia Warns Against InstaForex & InstaTrade

The Securities Commission Malaysia (SC) has issued a warning to investors regarding two unregistered entities, InstaForex and InstaTrade. This alert is part of the SC's ongoing efforts to protect investors from unauthorized investment schemes and ensure compliance with Malaysian securities laws.

The SC found that these entities are not registered or licensed to operate in Malaysia. This means that they are not subject to regulatory oversight, putting investors' funds at risk.

The SC has advised investors to exercise extreme caution when dealing with unregistered entities, emphasizing the importance of verifying the regulatory status of any investment platform or service provider before investing. Investors are also reminded to be wary of promises of unusually high returns or guaranteed investments, as these are often hallmarks of fraudulent schemes.

WikiFX Review

When we searched for InstaForex and Insta Trade on WikiFX, we discovered that both firms are listed as suspected fake clones with very low scores. WikiFX issued a warning and stated,

It has been found that these brokers are currently not subject to any relevant regulation. Please be aware of the risk!

Why use a Forex app if it doesn't provide the latest market news to you? On the other hand, WikiFX not only provides you with the latest Forex market news, but also enables you to evaluate a broker's regulatory status, reviews, and reliability. If you wish to use these features, go to the WikiFX website immediately.