eToro Added to Securites Commission’s Investor Alert List of Unauthorised Entitiesby Vincent Fong May 21, 2020
Following a statement from Securities Commission Malaysia on Tuesday which warned investors that eToro is not a licensed or a registered entity that is permitted to carry out regulated activities in Malaysia, the regulator has added the digital trading platform to its “Investor Alert List”
This clarification came after Fintech News Malaysia reached out to the regulator about eToro’s legality after it announced that 11% of its APAC customers are from Malaysia. SC reminds the public that Malaysian investors who deal with unlicensed entities such as eToro are not protected under Malaysian securities law and may not have legal recourse in the event of a dispute.
The addition of eToro to the provides Malaysians the much-needed clarity on its status, a quick search will yield results of many unsure investors asking the question “Is eToro legal in Malaysia”.
The Investor Alert List is intended as a guide to investors which lists out entities and individuals that are not complying with Malaysian securities law.