Malaysia’s Gold Price Reached New Height in 6 Years: Tips in Gold Investment

Malaysia‘s gold price reached its highest level in 6 years and continued to climb against a greatly volatile global market, exceeding 204 Ringgit per gram by August 12th. On the 4th Penang Signature Gold Fair in Malaysia last week, President of FGJAM(Federation of Goldsmiths & Jewellers Association of Malaysia) Steven Siow noted that Malaysia’s gold-product-export increased by 25.6% to reach 3,632 million Ringgit.

Influence of cultural traditions and deeply-rooted investment habits has driven peoples rising gold demand in SE Asia. With a GST-free policy, Malaysia provides a favorable environment for the gold industry to thrive and attracts many renowned forex brokers who want to invest in the country.

Hirose Financial has offices in 4 countries, serving over 200 thousand clients worldwide. Regulated by LFSA(Labuan Financial Services Authority), the broker has a high-rating of 8.03 on WikiFX App and uses standard MT4/5 software.

Tickmill, with a slightly lower WikiFX rating of 7.64 is also regulated, as its information can be found on LFSAs website. But in the past 3 months, WikiFX App received 16 complaints against the broker, so investors should be aware of the risks.

With a total trade volume of over 2 billion US dollars, Binary is a prestigious award-winning company in online binary-option trading, currently regulated by LFSA. However, its network diagram on WikiFX App suggests that 10 other illegal brokers are suspected to have cloned Binarys license, so investors need to watch out for such impostors.

With the recent bullish trend in Malaysias gold market, investors should mind the following points:

1. Be able to distinguish between credible and illegal brokers. Choosing a compliant broker is crucial for your assets safety, and WikiFX App offers investors comprehensive information of a brokers compliance, regulation and credibility.

2. Think rationally. Learning the basics in gold and forex and staying clear-headed will be helpful for your investment.

3. Practise in mock-trading accounts. Many regulated brokers such as Hirose Financial offer free virtual trading accounts online for investors, make good use of these.

4. Keep a good attitude. Do not lose heart even if your trading doesn‘t go as smoothly as you expected at first, stick to a good attitude and don’t be too obsessed with either successes or failures.