As inflation hits the globe bringing more financial stress to people, many are resorting to financial schemes provided by third parties.
Even while having some trading experience would be ideal, many people might not have the patience or time to carefully consider the transactions and financial instruments.
OctaFX is an app that has suddenly started showing up on many people’s sponsored advertisements, and its function is to assist users in managing their investments.
However, it appears from a Facebook post that Bank Negara Malaysia (BNM) has prepared a list of websites and apps that are prohibited by the BNM regulations.
It has included the well-known app/website OctaFX in its Financial Consumer Alert List.
BNM claims that the list made public is insufficient and simply acts as a guide for the general public based on the data and queries it has been provided with. The FCA is a guide to alert the public of organisations or schemes that have been mistakenly identified those that are governed or approved by Bank Negara Malaysia (BNM).
All consumers have been warned by BNM to be cautious of financial programmes offered by third parties, and it is recommended that they review the list before making any decisions.
This post first appeared on WORLD OF BUZZ.
