Broker that offers MYR crosses?
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Thread: Broker that offers MYR crosses?

  1. #1
    Anyone knows which brokers offering MYR forex within their own cross?

  2. #2
    From MYR, I'm assuming you intended Ringgit.

    Ringgit is restricted by Malaysia's capital management rules and can only be transacted domestically onshore in regard to above-board motives like global import/export, investments in domestic securities, schooling etc ).

    Speculative onshore trading in MYR crosses (if any) is just done between Banks that are local incorporated in Malaysia.

    Offshore trading (if any) is done via vehicles such non-deliverable forwards (NDFs) on Farmers Market currencies such as the ringgit and the Indonesian rupiah, and even those are being broken down now by the authorities in those various countries (AFAIK).

    Where speculative trading is done at all, it may be brokered by INTERDEALER (not retail) brokers that are also locally incorporated.

    Until MYR becomes freely traded again, I imagine no RETAIL broker could ever provide MYR crosses.

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