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SC Investor Alert List Malaysia: How to Check a Broker Is Legit

Is this broker or trading app legit? Check two things before you deposit: the company is on the SC's list of licensed intermediaries, and it is not on the SC Investor Alert List. Both are free and take about 2 minutes on sc.com.my.

Links last checked November 2026. Source: Securities Commission Malaysia, BNM.

3 lists to check, and what you want to see

If they offerCheckSafe answer
Brokers, trading apps, fund managers, investment advisersSC licence registerListed, with a licence number
Anyone offering shares, forex, crypto or "investment plans"SC Investor Alert ListNot listed
Deposit-taking, loans, "money games", e-walletsBNM Financial Consumer Alert ListNot listed

How to check a broker in 4 steps

  1. Find the company's full legal name in the app's footer or terms. The brand name is often different.
  2. Search that name on the SC licence register. Note the licence number and status.
  3. Make sure the licence number matches the one the app shows. Scammers copy real company names.
  4. Search the name, website and any Telegram or WhatsApp group name on the SC Investor Alert List.

5 red flags of an investment scam

  • Guaranteed returns, such as "5% a month". Licensed brokers do not guarantee profits.
  • Pay into a personal bank account, or a company that is not the broker.
  • A "mentor" or group on Telegram, WhatsApp or Facebook telling you what to buy.
  • Your profits are stuck until you pay a "tax" or "release fee".
  • An app you install from a link instead of the App Store or Google Play.

Bottom line

If you cannot find the company on the SC licence register with a matching licence number, do not send it money, however professional the app looks.

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More money questions Malaysians ask

SC Investor Alert List: common questions

What is the SC Investor Alert List?
It is the Securities Commission Malaysia's list of companies, websites and people that are not licensed to offer investments in Malaysia. If you invest through someone on it, you are not protected under Malaysian securities law. The list is not complete, so a name missing from it does not make a company safe.
How to check if an investment company is real?
Search the company name on the SC's list of licensed intermediaries at sc.com.my. A licensed broker shows up with its licence type and status. Then match the licence number to the one shown in the app or on its website. Moomoo Malaysia, for example, shows licence number eCMSL/A0397/2024.
Is a company registered with SSM licensed to take investments?
No. SSM registration only means the business exists. Taking money for investments needs a licence from the SC, and taking deposits needs a licence from Bank Negara Malaysia.
What should I do if I already sent money?
Stop sending more, even if they ask for a fee to release your money. Call your bank straight away to try to stop the transfer, make a police report, and report the company to the SC on +603 6204 8999.
What is the difference between the SC and BNM alert lists?
The SC list covers investments such as shares, forex, crypto and fund schemes. BNM's Financial Consumer Alert List covers unlicensed deposit-taking, lending and payment schemes. Check both: many scams claim to be both.
How to check scam investment?
Search the name on the SC Investor Alert List and BNM's Financial Consumer Alert List, then confirm it is on the SC licence register. Not being on an alert list does not make it safe: new scams run for months before they are listed, so the licence check is the one that counts.
Is FSMOne regulated in Malaysia?
Yes. FSMOne is run by iFAST Capital Sdn. Bhd., which is licensed by the Securities Commission Malaysia. You can confirm it yourself by searching iFAST Capital on the SC's list of licensed intermediaries.
What is a CMSRL licence?
CMSRL is the SC's Capital Markets Services Representative's Licence. It is held by a person, such as a dealer's representative, who carries out regulated activities on behalf of a licensed firm. The firm itself holds a CMSL. Look up a representative in the SC's licensed and registered persons database.
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