FAQ
General
Yes, MX Global is a registered Digital Asset Exchange Operator under the Guidelines on Recognized Market, regulated by the Securities Commission Malaysia (SC).
The MX Wallet allows users to receive digital assets and store them in a safe environment. Upon successful KYC verification at Level 1, every user will have access to the MX Wallet.
Go to to sign-up page. Fill up the details required and follow the rest of the instructions. Click sign up and we will be sending an email confirmation upon successful registration. Please note that successful registration means you are now at Account Level 0. To perform any transactions with MX Exchange, please upgrade your Account Level 0 to Account Level 1.
Please refer to our customer account classification.
No. You are not allowed to perform any transactions without any KYC verification, including when you are at Account Level 0 (or a registered user).
In order to perform any transactions, please request for Account Level upgrade to Account Level 1. Once your Account Level 1 request is approved, you are now allowed to perform transactions within the specified limit. A higher monthly limit is applicable when you request for Account Level 2 and subsequently Account Level 3, subject to approval.
All wallet services are free; however, withdrawal transaction fees are charged upon withdrawal of digital assets or fiat currencies from the MX Wallet. Trade fees are charged for successful trading activity done via the platform. For a full and updated list of the charges applied, please go to our Terms & Conditions and Fees and Charges page.
It is a security system/process that requires two separate, distinct forms of identification in order to have access and to prevent unauthorized users from gaining access to an account. Activating of two factor authentication on your MX account is compulsory.
You are not allowed to change your e-mail address as it is registered as an identifier for your MX account. However, if your registered email account has been hacked or you are unable to log in, you may contact our customer support service for further assistance.
At the Sign In page, please proceed to click on the Forgot Password tab. You will then be guided by our step-by-step process to reset your password
Yes, MX have launched our mobile apps that offer access to MX Wallet and MX Exchange.
User may deposit Fiat MYR, send and receive Digital Assets as well as trade Digital Assets through MX Exchange via the apps.
No, our minimum age requirement is 18 years old and have full capacity to accept the Terms and Conditions. For more information, kindly visit our Terms & Conditions
You can go to the Support tab and choose your issues type. Kindly provide a detailed information i.e screenshot and submit it to us.
Login to your MX account and go to Transaction> Select time period.
You can click "Unsubscribe" button located below the email.
Currently our wallet is not build on smart-contract
At the moment, MX Global offers five coins for trading on our exchange: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Solana (SOL) and Worldcoin (WLD).
Updates regarding the availability of new coins will be communicated through our official website and social media platforms.
After login to MX global account:
- Go to Beneficiary tab located on the left side of the page
- Click New Beneficiary
- FIll all required details
- Click add Bank Account
- It will submited to be process and will auto replace your existing Beneficiary bank account
Yes, the Travel Rule is a requirement that was introduced by the Financial Action Task Force (FATF) in 2019 to standardize coordinated approaches implemented by Virtual Asset Service Providers (VASPs). The implementation is to prevent financial transactions from being conducted through illicit means such as money laundering and terrorism financing.
Yes, third party/heirs can withdraw the balance from the deceased user account. But Third party/heirs will need to provide supporting documentation: death cert & relation with the dead to request for the balance withdrawal.
Account Opening
You can only start trading and perform any deposit / withdrawal at Account Level 1 onwards.
To upgrade from Account Level 0 to Account Level 1, please fill in the information required under Account Level 1 and submit the application through our website or our mobile apps.
Your account upgrade will be approved within 3 (three) working days
Account Issues
Two-Factor Authentication
There are 2 common reasons for this issues.
- The code entered is expired.
- The time setting on your device is different from the time setting for the Google Authenticator app. You may reset the time setting on your device.
If you are using Android Go to Settings> Time correction for codes> Sync now.
If you are using IOS Go to Settings> General> Date & Time> Switch on the "Set Automatically" button. If the switch is already on, switch it off for a few seconds and turn it on again."
Transfer of Digital Assets
You are required to initiate transfer on MX Global and to include:
- Amount of digital asset; and
- Counterparty’s wallet address.
After the initial process, you are required to declare to whom you are sending the digital asset.
During this step, you may have to declare:
- whether you’re sending digital asset to un-hosted wallet or to Exchange (to fill VASP’s name),
- whether the transaction is made to your own wallet, third party wallet, or institutional wallet,
- wallet’s beneficiary’s name, nationality, country of Residence (if you’re sending to third- party wallet),
- wallet’s institution’s registered name, country of incorporation, incorporation no (if you’re sending to institutional wallet).
MYR Deposits
Deposits must be made using a Malaysian bank account that is registered under the same person who owns the MX account and NOT from a body corporate, friends; or family members; or any third party’s bank account.
For Instituitional
Deposit must be made using the company bank account number.
a. It may take up to 2 working days for your money to be reflected in your MX wallet.
b. Deposits must be made via internet banking only.
c. Minimum amount for each deposit is RM 0.01.
Note: Working days shall mean a day (other than a Saturday, Sunday or public holiday) on which banks are open in Kuala Lumpur and Selangor for the transaction of businesses.
Follow the steps below:
- Login to your MX account.
- From the side MENU, select WALLETS > MYR Wallet > DEPOSIT.
- You are required to follow the instructions given before proceeding with deposit into your MX wallet.
- Enter the amount that you have deposited (must be within your Account Level limit).
- Select the bank-in date which matches the date in the proof of deposit.
- Upload the proof of deposit (ensure you input your reference ID while performing the deposit).
- Lastly, click on the SUBMIT button.
As soon as we are able to confirm your deposit has been received, it will be credited into your MX wallet. You will receive a bubble notification in your MX account and email notification once your deposit request has been approved/rejected.
You are not allowed to cancel any deposit request once you have clicked the ‘OK’ button. However, you may request for withdrawal once the deposit is reflected in your MX wallet.
We would advise you to confirm and re-check your details and supporting documents before clicking the ‘OK’ button.
If there are no issues found on your deposit request, we shall deposit your MX wallet by the 2nd working day from the date of your deposit request.
NOTE 1: Working days shall mean a day (other than a Saturday, Sunday or public holiday) on which banks are open in Kuala Lumpur and Selangor for the transaction of businesses.
NOTE 2: To ensure your deposit is credited into your MX wallet without any significant delay, please ensure the correct reference ID is keyed in and opt for the Instant Bank Fund Transfer (IBFT)/DuitNow mode of transfer which instantly credits the funds into our MX bank account. If you opt for other options such as Interbank GIRO, your bank may take several days to credit our MX bank account (subject to the policy of the bank you use), thus delaying the crediting of funds into your MX wallet.
Incorrect deposit reference
This is a unique reference ID, which is prompted on your deposit screen once you click on the DEPOSIT button.
If a deposit is made with an incorrect or missing deposit reference ID, we are unable to verify which customer has deposited the funds and we will not credit the customer’s MX wallet until we can ascertain and positively identify the correct customer.
For this reason, it is made compulsory for you to key in the reference ID provided under Instructions when performing your funds transfer.
Using someone else’s bank account
We do not accept fiat deposits into your MX wallet transferred from a friend or family member or any third party’ bank account.
Therefore, please use only your own bank account to perform fiat deposit into your MX wallet.
The funds are deposited using other channels besides internet banking
If your deposit is not reflected in your MX wallet after two working days (excluding weekends and public holidays), please send your deposit details at mx.exchange/supportdeposit for further assistance.
NOTE: Working days shall mean a day (other than a Saturday, Sunday or public holiday) on which banks are open in Kuala Lumpur and Selangor for the transaction of businesses.
MYR Withdrawal
- Withdrawals can only be made to a beneficiary account registered with MX and that bank account must be registered under the same person who owns the MX wallet. You cannot withdraw money to a friend, family members, company, or any third party’s bank account.
- It may take up to 2 working days for your money to appear in your bank account.
Minimum amount for each withdrawal is RM0.01 (including applicable withdrawal fee).
NOTE: Working days shall mean a day (other than a Saturday, Sunday or public holiday) on which banks are open in Kuala Lumpur and Selangor for the transaction of businesses.
- Login to your MX account.
- From the side MENU, select WALLETS > MYR Wallet > WITHDRAW.
- Next, select your beneficiary account from the drop-down box. Please ensure that your bank account details are up-to-date and correct.
- Enter the amount that you want to withdraw. Ensure you have sufficient balance in your MX wallet for the withdrawal amount.
- Lastly, click on the WITHDRAW button.
As soon as we are able to process your withdrawal request, you will receive a bubble notification in your MX account and email notification once your withdrawal request has been approved/rejected.
Please note that we only process withdrawal in MYR to your bank account in Malaysia for the time being. Withdrawals in other currencies and to bank accounts outside Malaysia are strictly not allowed.
You are not allowed to cancel any withdrawal request once you have clicked the “CONFIRM” button.
We would advise you to confirm and re-check your request before clicking the ‘CONFIRM’ button.
To add your bank account, follow these steps:
- Go to MENU > BENEFICIARIES
- Then click NEW BENEFICIARY
- Click on the drop-down option and select a bank’s name, followed by your full name and bank account number.
- Click ADD BANK ACCOUNT
NOTE:
- Customer is only permitted to register one (1) beneficiary bank account only at any point of time.
- Customer may request to add the new beneficiary account for MX Global to perform KYC/Beneficiary check prior approval. Once a request for a change in beneficiary bank account is approved, the old beneficiary bank account listed will be automatically removed.
- Only bank accounts maintained with banks in Malaysia are allowed. You can only add bank accounts that are registered under your own name.
If your withdrawal is not reflected in your bank account after 2 working days, please send your withdrawal details to mxglobal/support/account issue for further assistance.
NOTE: Working days shall mean a day (other than a Saturday, Sunday or public holiday) on which banks are open in Kuala Lumpur and Selangor for the transaction of businesses.
Trading
Step 2: Verify your identity (kindly follow our detailed guide to have your information verified)..
Step 3: Deposit fiat into your MX wallet (login to your MX account and follow the instructions given).
Step 4: Buy digital currency/asset through MX Exchange.
MX Global allows two order types:Fill-And-Kill OrderLimit Order
- A Fill-And-Kill (FAK) Order (buy or sell) will be executed immediately either partially or fully upon posting, against the resting limit orders within the orderbook at the best current available price. In the absence of liquidity, no FAK order will be placed in the queue within the orderbook. Client can only specify the amount of Supported Digital Asset to sell for sell orders or to buy for buy orders without having to specify a price for the order.
- A Limit Order (buy or sell) will be executed if the order matches the limit price set by the Client. A limit order is an order to buy or sell a given amount of Supported Digital Asset at a given price. A “buy” order will only be executed at the limit price (or lower), while a “sell” order will only be executed at the limit price (or higher). The order will remain active until it is either filled or cancelled. Limit orders can be partially filled.
If the order has a partial match, the portion where a match available will be executed, where the remaining portion will be placed as a resting order on the orderbook until it is cancelled by the Client or matched, whichever comes first.
Kindly refer to Trading Rulebook, for further illustration on these two order types offered on MX Exchange.
MX is taking a preventive approach to discourage disorderly markets; and to allow its Client(s) to reassess their strategies and positions and make investment decisions during sudden price volatility caused by rapid price movements by having a circuit breaker mechanism in place.
A Circuit Breaker is a term used for a market-wide approach to manage downward/upward movement of the market price by halting trading temporarily in the market during normal trading hours, during which time information is disseminated to all market participants.
Activating a Circuit Breaker provides the opportunity for information dissemination to all market participants, including investors, to make well-considered investment decisions.
| Conditions for Activation | The execution of order which causes the market price to fall outside of the price fluctuation threshold and this applies to all trading pairs independently |
|---|---|
| Trading Pairs which the circuit breaker applies |
|
| Suspension Period | 1 hours |
| Public information to be displayed |
|
- The Circuit Breaker will be activated and will halt the current market trading automatically once the market price fall outside of the Price Fluctuation Threshold and an email notification regarding the event will be sent to all Client(s).
- During the Suspension Period:
- MX Client(s) are not ALLOWED to place FAK orders or limit orders.
- MX Client(s) can cancel their existing open orders manually.
- MX Client(s) orders will remain on the orderbook until the orders are matched and executed if users choose not to cancel their orders.
Once the Suspension Period ends (1 hour), MX users will be able to resume their normal trading activities.
Any opportunity losses, including those due to the introduction of the circuit breaker system, are under no circumstances the responsibility of MX Exchange.
Corporate / Institutional
For Legal Person
- Certificate of incorporation/Registration(Form 9/Section 17).
- Register of Directors, Managers and Secretaries, and Changes of Particulars (Form 49/Section 58).
- Proof of Business Operating Address (Form 44/Section 46(3)).
- Audited Financial Statement/Certified Financial Statements
- Annual Return
- Company’s Bank Statement
- Corporate Structure/Shareholding structure.
- Return Allotment of Shares (Form 24/Section 78).
- NRIC for Malaysians/permanent residents or passport for foreigners
- Proof of Residence
For Beneficial Owners of Legal Person
Shareholders with an equity interest of more than 25%, directors, partners, and office bearers. The identity of the natural person (if any) who exercises control of the legal person through other means or who holds the senior management position.
- Letter of Authority
- NRIC for Malaysians/permanent residents or passport for foreigners
- Proof of Residence"
Identity of Representative
Feel free to contact us at [email protected] if you require any further assistance.
Account Closure
You can do so by sending us your details at contact us page. Under the Message section, please include the reason for account closure. This would help us to improve our services in the future.
Our team will assist you accordingly throughout the process
Please note that we would always welcome you back as our customer again if you change your mind along the process or even after your account has been closed
If you have any balance in your MX wallet, we will transfer your fiat into your designated bank account provided earlier to us, after deducting the applicable withdrawal fees.
For digital asset balances in your MX wallet, you have to withdraw all your digital assets by transferring out to other active wallets outside of MX Exchange
Complaints / Scam Reporting
You can send this in officially via email ([email protected]) to MX Global with the following items:
- Formal police report
- Personal identity info (Name, IC/Passport number/legal or correspondence address) - supporting docs of the personal identity info
- A written statement of the events that have occurred
- All Supporting docs of any communications, transfers, etc. to substantiate the written statement, including the chat transcript and screenshots previously communicated via other communication channels.
- Any other evidence you may feel is relevant.
Below are the channels/modes for the client to lodge a complaint, grievance and dispute:
Complaints form
At Support section on MX Global Website (General Inquiries) https://mx.exchange/Support
Securities Commission of Malaysia
Further, given that the MX Global Sdn Bhd is one of the capital market players Recognized Market Operators – Digital Asset Exchange (RMO-DAX) regulated by the Securities Commission of Malaysia, the complainant may also channelled and lodged to the SC Consumer Investor Office via email, hotline, facsimile and ordinary mail as stated in the SC’s website.
Malaysian Anti-Corruption Commission (MACC)
Or else, pursuant to the Whistle-blower Protection Act 2010, if Client wishes to make a disclosure or report of improper conduct by any Director pursuant to the Act, the employee has to make the said disclosure of improper conduct to the Malaysian Anti-Corruption Commission (MACC). Any investigations and/or actions taken thereafter would be made in accordance with the Act.
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