BP Proposal Final

COMMERCE DEPARTMENT
DPB50163 – BUSINESS PROJECT
TITLE:
STUDENT PERCEPTION IN ONLINE FOREX TRADING : EVIDENCE FROM
POLYTECHNIC NILAI
NUM NAME MATRIC NUMBER
1 MUHAMMAD HAZIQ BIN ROSLI 23DIB20F1024
2 AZAMUDDIN BIN AZMAN 23DIB20F1028
3 AHMAD A’FIF BIN SHAIROZI 23DIB20F1018
SUPERVISOR : EN. ZUL AIZAT BIN HAMDAN

SEMESTER 5 / SESSION 2022/2023
SUBMISSION DATE
Table of Contents
ABSTRACT ................................................................................................................................................. 1
CHAPTER 1 : BACKGROUND OF STUDY .......................................................................................... 4
1.1 Introduction ....................................................................................................................................... 4
1.2 Business Problem or Issues .............................................................................................................. 5
1.3 Business Project Objectives.............................................................................................................. 6
1.4 Limitation of Business Project ......................................................................................................... 6
1.5 Significance of The Study ................................................................................................................. 7
CHAPTER 2 : LITERATURE REVIEW ................................................................................................. 7
2.1 Introduction ....................................................................................................................................... 7
2.2 Literature Review of Forex (Fx) ...................................................................................................... 8
2.3 Forex Trading From Islamic Point of View.................................................................................. 10
2.4 Forex Position According to Law In Malaysia ............................................................................. 13
2.5.1 Level of Knowledge and Understanding Forex Online Trading.......................................... 14
2.5.2 Driving Factors Forex Online Trading .................................................................................. 16
2.5.3 Preventing Factors Forex Online Trading ............................................................................. 17
CHAPTER 3 : METHODOLOGY.......................................................................................................... 18
3.1 Introduction ..................................................................................................................................... 18
3.2 Swot Analysis................................................................................................................................... 19
3.3 Research Design .............................................................................................................................. 19
3.4 Research Instrument ...................................................................................................................... 20
3.5 Population and Sampling ............................................................................................................... 22
3.6 Data Collection ................................................................................................................................ 23
3.7 Data Analysis ................................................................................................................................... 24
3.8 Descriptive Analysis ........................................................................................................................ 24
3.9 Conclusion ....................................................................................................................................... 25
CHAPTER 4 : ANALYSIS DATA .......................................................................................................... 26
4.1 Introduction ..................................................................................................................................... 26
4.2 Descriptive Analysis ........................................................................................................................ 26
4.2.1 Demographic Analysis ............................................................................................................. 26
4.2.2 Analysis for Level of Knowledge and Understanding Forex Online Trading .................... 28
GANTT CHART ....................................................................................................................................... 56
REFERENCES .......................................................................................................................................... 57
APPENDIX ................................................................................................................................................ 58
POLITEKNIK NILAI
KEMENTERIAN PENGAJIAN TINGGI
No parts of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or
by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior permission
of the publisher.
Copyright 2022
eISBN:
Perpustakaan Negara Malaysia Cataloguing-in-Publication Data
Publisher
Politeknik Nilai
Kompleks Pendidikan Bandar Enstek,
71760 Bandar Enstek, Negeri Sembilan
Tel No: 06 7980400
Fax: 06 7911269
mailto:webmaster@polinilai.edu.my
1
AUTHOR’S DECLARATION
We hereby declare that the work in this research project is our own except for quotations and summaries,
which have been duly acknowledged.
Researcher’s Signature Supervisor’s Signature
( ) ( )
Muhammad Haziq Bin Rosli En. Zul Aizat Bin Hamdan
Date:
( )
Azamuddin Bin Azman
( )
Ahmad A’fif Bin Shairozi
Date:
2
PROPOSAL BUSINESS PROJECT
STUDENT PERCEPTION IN ONLINE FOREX TRADING :
EVIDENCE FROM POLYTECHNIC NILAI
Muhammad Haziq Bin Rosli

Azamuddin Bin Azman
Ahmad A’fif Bin Shairozi
Commerce Department
Politeknik Nilai, Bandar Enstek, Negeri Sembilan
ABSTRACT
Lately, forex trading by teenagers online is becoming more popular and is widely practiced by the public.
The advertising of online forex trading that often goes viral on social media attracts many people to venture
into it due to the promised lucrative profits, especially during the economic decline of the community in
this era of pandemic and inflation. This is what makes today's youth more interested in investing. This study
is to see the perception of Nilai Polytechnic students towards online forex trading. However, is this forex
trading and investment allowed in sharia ? The conflicting expert views on online forex trading is still a
debated issue until now even though most muftis in Malaysia have condemned this transaction as illegal.
Therefore, this study is to measure the level of knowledge and understanding of PNS students about online
forex trading . Apart from that, this study also identified influencing factors and hindering factors in
participating in online forex investment. This article is in the form of a qualitative study that uses the google
form method as a data collection method. At the end of this study can find out the level of understanding
and knowledge about online forex trading. In addition, this study can also identify the main factors that
encourage and prevent Polytechnic Nilai students to participate in online forex trading. Thus, the results of
this study will give great implications to the young generation and the community to understand the banning
of online forex trading so as not to be influenced by advertisements that promise various profits if entering
into this transaction.
3
CHAPTER 1 : BACKGROUND OF STUDY
1.1 Introduction
Foreign currency trading or better known as Foreign Exchange with the abbreviation as forex in English, is
the largest currency trading in the world financial market. The time difference factor between the countries
of the world makes forex continue to operate 24 hours a day, which is from Monday to Friday. Forex
operation in whole world.
Currencies in forex are traded in pairs called pairs. For example, the EUR/USD pair is the EUR currency
backed by the USD currency and vice versa. However, there must be some who wonder if the forex pair is
the most active and can be chosen by traders as the preferred pair.
In general, the most active forex pairs are rated based on their trading volume. The higher the trading
volume, the more active the pair. Active pairs show high trading interaction and give the impression that
the pair has high levels of liquidity and low spreads. Here is a list of the most active forex pairs by trading
volume, including EUR/USD, USD/JPY, GBP/USD, AUD/USD and others.
This transaction is different from the money market which only involves local currency. Usually,
conventional banks offer three main foreign exchange transactions namely FX Spot, FX Forward and FX
Swap to meet the needs of their customers and currency management in their respective banking institutions
(Abdul Rahman A Shukor & Joni Tamkin Borhan, 2017)
Now,Forex Online Trading Exchanges one of the activities that attracts the interest of some Muslims. One
of the interesting factors that make them stuck with Forex Online Trading Exchanges is because of financial
constraints due to the COVID-19 pandemic and the Movement Control Order (MCO) which resulted in
many members of the community losing their jobs and having to find quick financial resources to meet
their and their families' needs. In addition, the ease of entering and participating in this activity is also one
of the drivers for community involvement in Forex Online Trading Exchanges. This is because all Forex
Online Trading Exchanges activities are conducted online either through the internet or through an
application on a mobile phone.
According to a report issued by the Bank of International Settlements (BIS), the daily trading volume of
foreign currency exchange in April 2016 was as much as USD5.1 trillion (Rafiqah, 2020).The profit factor
that is achieved at a high and fast rate is one of the factors that cause this trade to become a "trend" that
some people are interested in (Khosiah, 2020). However, many do not realize that all foreign currency
transaction activities are prohibited because they are against the laws of the country. The Financial Services
4
Act 2013 or the Islamic Financial Services Act 2013 states that all foreign currency transaction activities
are prohibited whether the transaction involves a private person or a company within Malaysia with any
individual who is not authorized or authorized by Bank Negara Malaysia (BNM).
Furthermore, there are various views and debates between financial experts, Islamic muamalat experts and
academics regarding the position of Forex Online Trading Exchanges according to the Shariah perspective.
Therefore, online currency trading needs to be scrutinized so that every transaction that takes place must
comply with and be based on Syarak law. This is because ignorance about the knowledge of muamalat will
cause the community to fall into the realm of illegal sustenance. Therefore, this article will discuss the
propriety of banning Forex Online Trading Exchanges according to the Shariah perspective as well as its
position according to the law in Malaysia.
This study is to see the perception of PNS students towards online foreign currency trading. As we know,
many young people are easily influenced by investments that get high profits without any losses like this
forex. In addition, starting an investment does not require large capital when compared to stocks, futures or
commodities, forex is much cheaper in terms of initial costs (Dr. Mohamad Fazli, 2017). This is what makes
today's teenagers more interested in investing. However, they do not know that it does not comply with
sharia investment. So, the researcher wants to study the perception of PNS students to find out the extent
of their understanding of this forex. Also, want to know if they are involved with this forex directly or
indirectly. So, the purpose of this study is to give exposure to teenagers and students about forex and prevent
them from getting involved in this investment.
1.2 Business Problem or Issues
As we know, online forex trading is one of the trends that involves many young people in IPT to invest and
earn extra money. According to Prof. Associate Dr. Mohammad Fazli Sabri, Head of the Department of
Management and Consumer Studies, Faculty of Human Ecology, University of Putra Malaya, he stated that
the forex market is open 24 hours a day, so the trading hours provide convenience to forex players, whether
students or those who do it part-time outside working hours. Because of this, forex trading makes it easy
for its players to access and participate. "Although a fatwa has been issued regarding the operation of online
forex transactions carried out by individuals through online brokers not complying with Shariah, there are
still many Muslim forex players who do not pay attention to the fatwa, "In fact, forex hardcore players try
to issue their own 'fatwa', legalize the transaction. "This all happens because they are too obsessed with
pursuing wealth or profit to the extent that they are willing to ignore legal issues: said Associate Prof. Dr.
Mohammad Fazli Sabri. So, that is why there are still many people who are involved in online forex trading.
5
Money and profit obscure the eyes of society and young people about halal and haram laws (Dr. Mohamad
Fazli, 2017).
Next, according to a report in Majalah Labur on 21 March 2017 "Forex Online – Fatwa Kata Haram, Tapi
Masih Ramai Yang Selamba Join". In February 2012, the Fatwa Council issued a statement that Forex is
illegal. However, many people ignore the fatwa and there are people who say that forex is halal if someone
has knowledge. In addition, there are many young people who fight for this online forex trading if they
want to get a big profit. Majalah labur explains the law of online forex trading under the deliberations of
the fatwa committee of the national council. (Eza, Forex Online – Fatwa Kata Haram, Tapi Masih Ramai
Yang Selamba Join, 2017)
1.3 Business Project Objectives

This study has the following objectives :
▪ To study the level of knowledge and understanding of PNS students about online foreign currency
trading.
▪ To identify the driving factors of PNS students involved in online foreign currency trading.
▪ To identify the preventing factors PNS students from engaging in online foreign currency trading.
1.4 Limitation of Business Project
The researcher has a limitation when doing this business project. The lack of time is the limitation for the
researcher. This time it often happens among students. This is because students do not have enough time to
complete all the assignments and exercises given by the lecturers. Not only that, the class schedule is also
tight, so time is more limited, especially in completing this business project. In addition, this project needs
to be given more attention in terms of format preparation, methods, content and so on. Therefore, this
project needs more time to do with team members in order to produce good work.Besides that ,the
researcher lack of adequate information. This lack of information occurs because there is not much reliable
information or media. So, it is quite difficult to find various things because it only refers to one website as
a guide to complete this business project.Another ,.
6
1.5 Significance of The Study
The business study of our project is to study the perception of young people or IPT students about online
forex trading. As we know, online forex trading is an investment that is not based on shariah , but there are
still many young people and who do not allow the law and even invite their friends to invest together. Not
only young people but also many adults are involved. Therefore, the importance of this study is to give
awareness to young people about online forex trading being wrong and not in accordance with sharia
regulations. In addition, we also want to prevent children - young people from getting stuck with this online
forex trading. This can reduce the percentage of children - young people in the involvement of online forex
trading. As we see today, in social media there are many young people who promote online forex trading
and say that the profit obtained from the investment is good and reliable. It is better that we get that income
from a source that is in accordance with Sharia and it is definitely halal to be used in our day-to-day
purchasing activities. The lack of awareness and knowledge makes our children and young people continue
to be stuck with activities that are not according to Sharia.With the study of our business project, we can
work together to attract young people to get out of online forex trading and make sure they will not get
involved again. There are many sharia-compliant investments out there that are more reliable, but the profits
promised by forex have clouded the eyes of young people. Therefore, these young people must get the
proper awareness so that they don't regret it in the future.
CHAPTER 2 : LITERATURE REVIEW
2.1 Introduction
In order to make sure that the project's objectives may be met, a literature review is a statement or fact about
the main important study in project development. This study summarises the findings of the previous
investigation in connection to the next research. Additionally, a variety of viewpoints were developed in
the analysis of written documents to support the study and demonstrate that the theory employed is more
than just theory.
On the subjects that the researcher has chosen, this study includes theories, evaluations, evaluations, and
research reports. To enhance the goals and support the conclusions of the study, previous researchers are
also mentioned and somewhat changed. Articles, journals, and expert remarks are used as research sources.
The research title chosen by the researcher is Student Perceptions in Online Forex Trading: Evidence from
Nilai Polytechnic. The goal of this study is to evaluate the students at Nilai Polytechnic's level of knowledge
7
and comprehension as well as to pinpoint the elements that support and oppose their participation in online
forex trading.
2.2 Literature Review of Forex (Fx)
Forex (FX) or "Foreign Exchange" is a market for buying and selling various countries, by paying using
the currency of one country to get the currency of another country. Forex is one of the largest financial
markets in the world for trading various currencies.
Forex market services are available 24 hours a day. It is open five days a week and operates worldwide
online. This means that anyone on earth can access currency trading – he can open buy and sell positions
at any time of the working day. (FBS, 2022)
What researcher want to convey here is how there is no need to be physically present when currency
exchange is done. Today is the age of electronic markets. Therefore, the purchase and sale of the currency
of a certain country against the currency of another country takes place on the Internet. A trader opens a
position for a particular currency and hopes that the currency will gain if his objective is to buy, or expect
it to weaken if his objective is to sell. Because of the price movement, the trader can make a profit.
It is impossible to sell money unilaterally. Trade is a relative process – when one party buys, there must be
a seller. Because of the difference between these transactions, traders can benefit.
The forex market is a very exciting adventure for many active traders. Forex is most often described as a
simple asset class, and its low barrier to entry, unlimited trading hours, high liquidity, and unregulated
environment are all selling points of forex trading.
However, even though Forex has some simple features, Forex traders cannot reduce its complexity:
i. There are 4 main capital markets: stocks, bonds, commodities and forex. Forex is the core market. It
also connects 3 other markets in two simple ways, money flow and market sentiment. The flow of funds
is the most prominent feature in the forex market, because the forex market is where currencies are
traded. Also, when forex market sentiment tends to panic, traders will move forex investments into less
risky assets such as bonds. This is also the effect of market sentiment.
ii. The impact of basic data on forex is huge. There are so many Forex traders who make trading decisions
based on market fundamentals. Since Forex is an unregulated market, we say that the Forex market is
prone to manipulation. In short, the larger the scale of market manipulation, the more complicated it
makes the currency market.
8
iii. Forex is the only market where two different things are traded. For example, commodity traders cannot
exchange crude oil for gold. Traders can refer to other asset price fluctuations before opening a position,
oil but gold are still two separate contracts. However, Forex comes in the form of currency pairs.
Level of Knowledge is according to (Notoatmodjo, 2010), Knowledge has six levels that are included in
the cognitive domain.
First level is Know. Knowing is defined as remembering a material that has been studied before. Included
in this level of knowledge is recalling something specific in all the material that has been studied or stimuli
that have been received. Therefore, knowing this is the level of what is learned, among other things, being
able to mention, describe, define, express, and so on.
Second level is Understanding. Understanding is defined as the capacity for accurate explanation of well-
known objects and accurate interpretation of the source material. A person must be able to explain, give
examples, draw conclusions, make predictions, and do other things about the subject being studied if they
have understood the object or material.)
Third level is Application. The ability to apply what has been learned in real (actual) situations or conditions
is referred to as application. Application in this context refers to using knowledge of laws, formulas,
techniques, principles, etc. in different contexts or circumstances.
Next level is Analysis. Analysis is the capacity to break down a substance or an object into its component
parts while keeping those parts organised and connected to one another. This capacity is demonstrated by
verbs like describe (create a chart), differentiate, separate, group, etc.
After that is Synthesis. Synthesis is the process of assembling or joining parts to create a new whole. In
other words, the ability to organise new formations from preexisting formulations is what is meant by
synthesis.
For the last is Evaluation. This assessment relates to the capacity to defend or assess a subject or thing. The
assessments are made using either self-developed criteria or pre-existing criteria.
9
2.3 Forex Trading From Islamic Point of View
Forex is a transaction involving currency and is called Al-Sarf according to fiqh muamalat. So, there are
specific pillars and conditions that allow valid Bai' al-Sarf to be required by the Sharia. Therefore, every
mualamat that has fulfilled all the pillars and conditions of sale and purchase is considered valid from the
side of Sharak.
In fiqh muamalat, there is a specific debate on currency trading or forex called Bai' al-Sarf. In terms of
language, Bai' al-Sarf is meant as excess and addition or rejection and change. In terms of terms, according
to the Syafie sect, Bai' al-Sarf is the sale and purchase of two goods that both consist of a type of currency
or the sale and purchase of money with money. The currency that is meant by the Syafie sect refers to the
currency of dirham or dinar or any type of currency like that. The two items are of pure gold and silver,
whether shaped, molded and so on (Mustafa al-Bugha, 1992) . From the definition, it clearly says that all
types of transactions that are based on currency as it happens today refer to the law of Bai al-Sarf. Currency
trading or Bai' al-Sarf is valid and allowed according to the hadiths that explain the validity of buying and
selling al-Sarf when all the pillars and conditions of buying and selling have been met. In addition, Bai al-
Sarf consists of different types of buying and selling. Therefore, the basic rules and conditions of buying
and selling are applicable to Bai' al-Sarf unless something specific is required in this buying and selling (al-
Jaziri, 2003)
Bai al-Sarf is the buying and selling of ribawi goods and after that the 'illah riba' which is currency.
Therefore, the sale and purchase of usurious goods is legal and permitted by syariah if it meets four
conditions, namely the sale and purchase of the same goods, transactions that take place immediately, sales
and purchases that take place in a contract and a contract that is final.
Based on the hadith narrated by Ubadah Ibn al-Samit, that the Prophet SAW said:
Meaning: "Translation: (Exchange) gold for gold, silver for silver, wheat for wheat, barley for barley, dates
for dates, salt for salt in equal quantity and hand for hand (qabḍ). If it is of a different type then change
according to what you like when it is done hand to hand (qabḍ).”
The hadith above explains that every transaction from goods with an element of ribawi must be equal from
a weighing point of view and cannot be excessive or tafadul. In addition, this sale and purchase must be
submitted immediately and cannot be delayed or taqabud. There are some further explanations regarding
the valid conditions of Bai' al-Sarf:
10
1. Equality from the point of view of type and weight
The jurists agree that buying and selling involving currency must consist of the same type of currency such
as buying and selling gold with gold, silver with silver. This means, Bai' al-Sarf is the same in terms of
type and weight. A sale and purchase is not valid if there is an addition or excess from one of the parts. If
the sale is of different types of ribawi goods, such as the sale of gold and silver, then excess or different
weights or parts are required.
2. Immediate delivery
Bai' al-Sarf has been required to be done immediately. Any trade between gold and gold, or silver and
silver is invalid if there is a delay. This is because, the condition of buying and selling currency is that there
must be no time gap for the delivery of the goods. If the delivery of an item cannot be done at the time of
the contract, then the sale is invalid based on the hadith narrated by Umar al-Khattab that the Prophet SAW
said:
Meaning : Exchanging silver for gold is usury unless it is handed over at the same time. Exchanging wheat
for wheat is usury unless it is delivered at the same time. Exchange of barley for barley is usury unless it is
handed over at the same time. Exchanging dates for dates is usury unless it is delivered at the same time.
3. Submission in the contract ceremony
Jumhur jurists agree that Bai' al-Sarf must be submitted in the contract. If the item is handed over after
leaving the contract, then the sale is invalid (al-Jaziri, 2003). The meaning of changing hands here is when
there is a real act. If both parties go hand in hand in one direction, it is still considered in the contract
ceremony. However, if both parties go in different directions, then the contract ends (Mustafa al-Bugha,
1992).
4. The contract is final
Akad for Bai' al-Sarf means a sales statement that does not place any conditions on the purchase. If both
parties put conditions in this sale and purchase, then one of the parties has the right to demand khiyar.
Khiyar conditions cause an item not to be owned at the contract ceremony (al-Zuhaili, 1984).However, Bai'
al-Sarf must be done immediately without delay, so khiyar conditions give room for someone to delay a
transaction. Therefore, the contract of sale of al-sarf must be free from khiyar al-syart. Next, Bai' al-Sarf
is included in the types of buying and selling (al-Zuhaili, 1984).Therefore, Bai al-Sarf is subject to the
principles of sale and purchase that have been set by Syarak. If the Bai' al-Sarf contract does not meet the
purchase and sale rules, then the transaction is corrupt and void according to Shariah. There are three pillars
of buying and selling that need to be fulfilled, which are sighah, which is the wording of the sale, 'aqidani,
11
which is the seller and buyer, and ma'qud alaih, which is the item or thing that is the object of the contract
(Mustafa al-Bugha, 1992).
Therefore, there are several fatwas issued by the Board of Grand Scholars of Saudi Arabia, the Islamic Fiqh
Academy of the Islamic World League, the OIC International Academy of Islamic Fiqh and the Indian
Islamic Fiqh Academy stating that paper money is a medium of exchange and that it is subject to the law
of usury as in gold and silver. Therefore, the buying and selling of paper money must comply with al-ṣarf
so that it does not contain the forbidden element of riba. This is because paper money is currency and it is
a perfect thamāniyyah (currency). Paper money is subject to all laws for gold and silver such as usury,
zakat, salam and so on (Abdul Rahman A Shukor & Joni Tamkin Borhan, 2017).
Based on detailed research that has been done, Muzakarah found that foreign currency exchange trading
(forex) by individuals on the spot (individual spot forex) through electronic platforms contains elements
such as usury through the imposition of rollover interest, purchase and sale requirements. in the granting of
debt through leverage, unclear qabd during exchange transactions, the sale of currency not in holdings and
speculation involving gambling..
In addition, it is also illegal from the Malaysian Government's legal point of view.
In relation to that, Muzakarah agreed to decide that the trading of foreign currency exchange (forex) by
individuals on the spot (individual spot forex) through the existing electronic platform is illegal because it
contradicts the requirements of Sharia and is also illegal. from national law.
Accordingly, Muslims are prohibited from engaging in this kind of currency trading.
Muzakarah also emphasized that this ruling does not apply to foreign currency exchange transactions over
the counter at licensed money changers and foreign currency exchange transactions conducted by financial
institutions licensed under Malaysian law. (Pejabat Mufti Wilayah Persekutuan, 2016)
12
2.4 Forex Position According to Law In Malaysia
Every trade or transaction in any country including Malaysia is regulated by certain laws and bodies. This
is because, it is to guarantee the financial security of an individual or company. So, there are several laws
that are binding and applicable to any party involved in foreign currency trading or forex. There are several
bodies that are also involved in regulating the forex trading system in Malaysia.
The Currency Exchange Control Act 1953 is one of the main acts that govern the operation and management
of forex trading in Malaysia. Meanwhile, Bank Negara Malaysia (BNM) is an institution or body that has
been given the authority to administer the act (Daniel, 2019). According to section 4(1) of the Money
Exchange Control Act 1953, all transactions related to forex whether trading or similar must be carried out
through authorized dealers such as licensed local banks. This is because, all forex transactions in Malaysia
must be done with any party authorized to offer foreign currency trading services. Section 4 (1) of the
Money Exchange Control Act 1953 provides as follows:
Except with the permission of the Controller, no person, other than an authorized dealer, shall, in Malaysia-
a) buy or borrow any gold or foreign currency from;

b) sell or lend any gold or foreign currency to; or
c) do any act which involves, is in association with, or is preparatory to, buying or borrowing any gold or
foreign currency from, or selling or lending any gold or foreign currency to, any person other than an
authorized dealer.
An article published by BNM under the title Illegal Foreign Currency (Forex) Transactions states that forex
trading is illegal if foreign currency buying and selling activities take place between private individuals or
companies within Malaysia with any unauthorized individual. or permission by BNM below under the
Financial Services Act 2013 or the Islamic Financial Services Act 2013 (Rahman, 2016).
In addition, in Malaysia an individual will be convicted of an offense if he buys or sells foreign currency
(forex) or does any act involving, in connection with, or preparation for, buying or selling foreign currency
with any person, other than authorized dealer (authorized dealer). Under this Act also, it is an offense if a
person aids or abets another person to buy or sell foreign currency with any person, except from an
authorized dealer.
Apart from the Money Exchange Control Act 1953, there are also several other acts that bind and apply to
online currency trading, namely the Securities Commission Act 1993 which controls all business dealings
13
and the Money Laundering Act 1998 which provides laws regarding licensing and any business involving
money laundering.
Bank Negara Malaysia (BNM) is an institution or body that regulates currency trading. Bank Negara
Malaysia (BNM) is also supported by the Malaysian Investment Development Authority (MIDA), Bursa
Malaysia, the Securities Commission of Malaysia, the Financial Accreditation Agency (FAA) and the
Shariah Advisory Council (SAC). Meanwhile, forex trading is regulated by legislation because the forex
market is the largest and most liquid market in the world market. Therefore, all parties can engage in forex
trading including private individuals, local or multinational companies and central banks (Asmadi, 2011)
2.5 Perception of Forex Online Trading
2.5.1 Level of Knowledge and Understanding Forex Online Trading
First, the researcher told about Knowledge and Behavior. In theory, knowledge of how financial markets
operate should lead individuals to make more effective borrowing. (Trivedi, January 2019).This is generally
supported by the available literature as many studies show that well-developed financial skills are necessary
for effective money management (Carswell, 2009; Collins, 2007; Haynes Bordas, Kiss, & Yilmazer, 2009;
Scott, 2010). However, the majority of these studies fail to provide a direct link between personal financial
knowledge and actual financial behavior. Several studies provide evidence of a relationship between
knowledge and behavior, although they differ in the way knowledge is measured and the behavior
addressed.
Many studies of financial literacy emphasize college student populations; some for convenience and others
as populations of interest (Borden, Lee, Serido, & Collins, 2008; Chen & Volpe, 1998; Jones, 2005; Robb,
2010; Robb & Sharpe, 2009). Chen and Volpe (1998) establish a relationship between financial knowledge
and financial decisions, although it is weak at best because the results are purely hypothetical. Based on a
36-item knowledge measure, more knowledgeable students achieved higher scores on hypothetical
spending investments, and insurance decisions when compared to less knowledgeable students. Students
who are more knowledgeable are also more likely to keep financial records.
So far, the discussion has emphasized objective financial knowledge. It is important to address the possible
effects of subjective financial knowledge (or self-rated knowledge) as well. Research by Courchane (2005)
shows that self-assessed knowledge is one of the most important factors in determining financial behavior.
14
However, research has made it clear that people do not always have a full understanding of their own level
of financial knowledge (Courchane, 2005).
Knowledge define as Knowing is the outcome of sensing, which takes place after people become aware of
a particular object. The five senses of the human body—sight, hearing, smell, taste, and touch—are used
for sensing. Knowledge is king and is crucial for the development of one's actions. Knowing something is
the result of human sensing, or knowing something by using one's senses (eyes, nose, ears, etc.). object. A
person's senses of sight and hearing provide them with the majority of their knowledge (Notoatmodjo,
2010). According to (Notoatmodjo, 2010) factors that affect knowledge include the Education factor. This
is the case, the higher the level of a person's knowledge, the easier it is to receive information about
knowledge. Knowledge can generally be obtained from information delivered by parents, teachers, and the
media. In addition, job factors can also affect the process of accessing the information needed on an object.
The last is about Financial Satisfaction. Financial satisfaction is an individual's subjective perception of the
adequacy of his own financial resources (Hira & Mugenda, 1998). Financial satisfaction has long been
recognized as a component of well-being (Campbell, Converse, & Rodgers, 1976) and has received
attention in studies of health-related stressors such as financial stress, risk management issues, locus of
control and job issues (Porter). & Garman, 1993).
Although there is no consensus on how financial satisfaction can best be measured (Joo & Grable, 2004),
both single-item and multi-item measures have been used to achieve reliable and valid findings. Multiple
item measures consist of scales (e.g., Hira & Mugenda, 1998; Leach, Hayhoe, & Turner, 1994) or domains
(e.g., Draughn, LeBoeuf, Wozniak, Lawrence, & Welch, 1994).
Proposed determinants of financial satisfaction include demographic factors such as income, education,
ethnicity, and age, as well as financial stress, financial knowledge, and financial attitudes and behaviors. A
higher level of financial knowledge and financial management practices.
has been directly related to increased levels of financial satisfaction (Joo & Grable, 2004; Loibl & Hira,
2005). According to Joo and Grable (2004), financial behavior is found to have a more significant and direct
effect on financial satisfaction than household income levels or other demographic factors.
15
2.5.2 Driving Factors Forex Online Trading
The driving factors of forex online trading is less Taqwa. On average those who participate in Forex Trading
Online, they know the law is illegal. But as a result of taking the advice of 'influential people' who have
been involved in this field for a long time, they are willing to ignore and belittle the fatwa. They feel more
knowledgeable and up-to-date than muftis and authoritative experts around the world. "Scholars eat
salary"..."Double standard"..."Scholars are not infallible, they also make mistakes" . With this kind of
thinking, young people are increasingly ignoring the laws of halal and haram to get luxury. Without piety,
fatwas will only be considered 'scholarly opinions'. (Eza, 6 Sebab Anak Muda Terlibat Dengan Forex
Trading Online, 2021) The second factor is Massive Ads By Brokers. It is because Forex brokers are very
active in promotions. Surely we have seen ads on Facebook or YouTube that tell how easy it is to make
money with forex trading online. In seconds or minutes, we can make money with the fluctuations of the
world's currency markets. There are also ads that offer robot and copy trading systems. We just put in
capital and shake our feet, we don't need to learn Technical Analysis and we don't need to look at charts.
Few people are influenced by this easy way to make money with forex trading. (Eza, 6 Sebab Anak Muda
Terlibat Dengan Forex Trading Online, 2021)
After that, it Can be done anywhere. "Since the forex market is open 24 hours a day, the trading hours
provide convenience to forex players as well as students and those who do it part-time outside of work
hours," he said, who is also Head of the Department of Resource Management and Consumer Studies,
Faculty of Human Ecology, University Son of Malaysia. According to him, Since the forex market is open
24 hours a day, then the trading hours provide convenience to forex players whether students; nor those
who do it part-time outside of work hours. (Dr. Mohamad Fazli, 2017)
16
2.5.3 Preventing Factors Forex Online Trading
According to the several article and research journal, there is also some preventing factors that prevent
individual involve in forex trading, such as according to Mustafar Mohd Suki (Sinar Harian, 16 Februari
2021:Hati Hati Terima Pandangan Berkaitan Forex), more than 20 authoritative bodies in the world state
that forex trading is haram including the reasons that make it haram and how it is legalized. Based on this
fact it shows that when majority authorities bodies agree that forex trading is not permissible, then it become
preventing factors to individual involve in forex trading. (Sinar Harian, Hati Hati Terima Pandangan
Berkaitan Forex, 2021)
Furthermore, according to Ahmad Sufian (Sinar Harian, 16 Februari 2021: Forex Haram Kerana Ada Unsur
Riba), there is element of riba’ in forex trading online and its haram. But if we have been given advice but
we still do it (involved in forex), we are stubborn and try to find a fatwa that says forex is not haram, Allah
will declare war and war in the afterlife is a great punishment. (Sinar Harian, Forex Haram Kerana Ada
Unsur Riba, 2021)
However, from other perspective forex trading also named as form of high-risk investment. According to
Zaimah Ramli (2010), she stated that absence of excess income, the assumption that the investment scheme
regarding not being in line with religion and indeed not being interested is also a factor obstacle to them.
Zaimah Ramli (2010) also stated that less exposure in investment experiences lead to the preventing factors
individual involve forex trading online.
From the article and research above it shows that there is 5 preventing factor individual not involve in forex
trading which is the fatwa resolution stated haram, secondly there is element of riba’, thirdly less income
or saving, fourthly because of religion, fifthly not interested in forex trading and lastly is less experiences
exposure in forex trading.
17
CHAPTER 3 : METHODOLOGY
3.1 Introduction
Research is an academic activity that has levels and procedures that need to be implemented Neuman,
(2000). This is because the research carried out is an activity aimed at collecting primary and secondary
information aimed at describing, classifying, explaining and verifying a problem that is the topic of the
study.
This chapter is the research method used to obtain the results of the study. Where methodological studies
can help ensure that research can be carried out in an organized manner and produce good and perfect .
The research methodology used in this study is important for producing more systematic and effective
information. The research methods employed greatly influence the results of a study. As a result, the
selection methodology should be able to assess the study in relation to its purpose before moving on to the
actual objective that needs to be met.
This study also has a SWOT analysis that is tested in terms of the strengths of this study, the weaknesses
in doing this study, the opportunities that will be obtained from the study and the threats that occur during
the study.
18
3.2 Swot Analysis
The diagram 1 below shows the SWOT analysis of this study:
STRENGTH WEAKNESS
> Make a new research about teenagers > Lack of research on teenagers
participating in forex participating in forex
SWOT
OPPORTUNITY THREAT
> Expose information about online > Many young generations join online
forex trading to the younger generation forex trading online
Figure 1 SWOT Analysis
3.3 Research Design
According to Kerlinger (1973), the study design aims to find information and control variants that are not
related to the research. Therefore, a proper design is required to obtain information to answer the research
question. In this study, the survey design was chosen using the questionnaire method. In addition, it only
involves the collection of data and information from the respondents involved. This study also intends to
compare or examine the correlation between variables. Therefore, other research methods are needed.
Fink (1995) defines survey as a way of generating information to describe, compare and predict attitudes,
opinions, values and behavior based on what is contained in the records of respondents and their activities.
The survey method only involves quantitative review work and qualitative interpretation. This survey
method involves the main activity of the survey questionnaire. In this study, the researcher used a
questionnaire as a research instrument to fulfill the objectives of the study. The instructions and questions
given are more common to all the subjects you want to study.
This study is descriptive and it aims to analyze "Students' Perceptions In Online Forex Trading: Evidence
from Nilai Polytechnic". According to Ary & Jacobs (1990), descriptive research is designed to obtain
information about events during the event. Uma Sekaran (2007) also supports that the benefit of using
descriptive research is that it involves high reliability, low cost and requires a short period of time. At the
same time, reliability tests are used to examine the internal consistency between items in their respective
19
factors. Multiple regression analysis was also used in this study to predict values from several measured or
binomial variables.
In the context of this study, a questionnaire survey was chosen to obtain data on the level of knowledge and
understanding of PNS students about online foreign currency trading as well as to identify the driving
factors of PNS students involved in online foreign currency trading and factors preventing PNS students
from engaging in online foreign currency trading.
3.4 Research Instrument
The research instrument is very important in a study. As this study uses survey method, distribution of
questionnaire is the best instrument used. In this study, instruments are formulated based on the objectives
of the study and the predetermined study questions and are divided into parts such as respondents' profiles,
knowledge about forex, driving factors and factors preventing that affecting respondents to the forex.
The tool used in this research contains items in the form of statements and start with question in forms of
True and False. The last ended with the choice of answers given in the form Likert scale (1-5) namely (1)
Strongly Disagree, (2) Disagree, (3) Neutral, (4) Agree and (5) Strongly Agree. The selection of Likert
scale was made because it was easier to manage and answered by respondents. In addition, the reliability
of data obtained was higher and simplified to the population Chua. (2006).
The questionnaire is divided into FOUR (4) section which is, section A (Demographic information), Section
B (Knowledge about forex), Section C (Driving factors) and Section D (Factors preventing). In section B
there is 8 questions that relate to knowledge about forex. For section C there is 8 questions that relate to
driving factors and 8 questions for section D which is relate to factors preventing.
Section A – Demographic Information
• Gender
• Age
• Programme
• Semester
• Race
20
• Religion
• Family income
Section B – Knowledge About Forex
• Online Forex Trading is non-compliant with the shariah.

• Forex is registered under Bank Negara Malaysia.
• GBP/USD and AUD/USD is the currency values for Forex Trading Exchange.
• Forex and Bitcoin is the same trading transaction.
• Forex only requires a low capital to invest compared to other trades.
• Forex is listed in Bursa Malaysia.
• A fatwa has issued a law that online forex trading is illegal.
• forex provide high returns to its traders when trading takes place.
Section C – Driving Factors
• Advice from influential people makes young people willing to ignore and despise fatwa about forex.
• The lucrative return that forex gives to its traders make them want to trade to achieve more profits .
• advertisements made by brokers that attract many people to invest in online forex trading
• There is a lot of advertising about online forex trading on social media posted by famous influencers
• The forex operating hours are open for 24 hours making it easy for investors to invest at any time.
• Many students make forex a part-time activities because it can be done anywhere like on a smartphone.
• The broker offers a package of assistance in online forex trading such as copy trading app.
• The initial capital offered is low and the return is high compared to other trades.
Section D – Factors Preventing
• The majority of world authorities state that online forex trading is illegal and not allowed.
• Young people lack exposure to this online forex trading investment.
• Young people follow the ruling of the fatwa which states that online forex trading is haram.
• There are elements of riba, gharar & maisir in online forex trading that are not based on sharia.
21
• Young people have lack of capital and savings to invest in online forex trading.
• Lack of young people's interest in online forex trading.
• no knowledge in handling online forex trading.
• exposure to savings is better than investing in online forex trading.
3.5 Population and Sampling
Sampling is a subset of the full population that represents the population or constituents Kerlinger (1973).
Analytical sampling is important in determining the desired sample focus. The sampling procedure in this
research is done by setting the sampling frame in advance and then followed by selecting a sample from
the sampling framework. Statistical tests are done on the sample after the two steps above are analyzed next
will generalized to the entire population.
Based on the calculations Krejcie and Morgan (1970) have listed the sample size which corresponding to
the population size. This is because it is impossible for a researcher to use all samples in a sufficient
population with an appropriate sample size to generalize to the entire population.
Since this survey is a survey, a large sample is needed. Before determining the sampling type of study, it is
necessary to determine the sample size in advance in addition to taking taking into account factors affecting
sample size, accuracy considerations, cost, type statistical tests, variable characteristics and population size.
Sampling method in this the study is a type of simple random sampling.
Simple random sampling is the sampling technique employed. Every component of the population has an
equal chance of being chosen as a sample in simple random sampling. Five procedures are outlined by De
Vaus (1985) for basic random sampling:
a) Get a thorough sampling framework.

b) Assign each participant a unique number.
c) Choose the appropriate sample size.
d) Randomly choose members based on the sample size provided by the table, and
e) Choose a participant at random.
There are 1896 students enrolled at Nilai Polytechnic overall for this study. Additionally, students will be
chosen via imbalanced stratum sampling. Diploma students make up the chosen students. There is no
defined percentage or amount to determine the number of students in each department because the number
22
of students in each department varies. In order to reflect the entire population, 318 students were chosen to
participate in the study, according to (Krejcie, R.V., & Morgan, D.W, 1970)
Department Course Sample Total

DIB 37
DBS 23
Commerce 106
DRM 23
DLS 23
Agro technology & DBT 44

Bio-Industry DLH 49 106
DKM 45
Mechanical DEM 48 106
Table 1 Sample Size Each Department
3.6 Data Collection
Research data collection is defined as a method or procedure that needs to be taken to answer the research
problem. This procedure is a systematic work step, starting from planning, implementation, and drawing
conclusions, Sutedi (2011). There are several types of methods that are commonly used in research,
including experiments, analysis of conflicting research methods and others. In general, data can be divided
into two types, namely primary data (raw data) and secondary data (secondary data).
This study was conducted using primary data obtained through field research. The field survey was
conducted using a questionnaire after the respondents completed the questionnaire. It can save cost and
time. This is a popular way of obtaining data and information among social scientists. In the meantime, the
method of using google form is also used to collect from the revealed survey. A sample of respondents is
assigned randomly or determined according to a ratio or average.
23
3.7 Data Analysis
This study uses qualitative analysis. For the data obtained from the questionnaire, it will be analyzed using
Microsoft Excel software with descriptive and inferential statistical techniques. Descriptive statistical
techniques were used to examine and identify the background of the respondents. This analysis can help in
identifying the profile of participants such as age, department, income of family members and so on through
frequency and percentage distribution techniques. The data collected will be analyzed by the Microsoft
Excel. Data analysis methods are descriptive analysis and multiple regression analysis.
3.8 Descriptive Analysis

a) Descriptive statistics: The frequency count is used to describe the frequency received and the
percentage.
b) Mean statistics (Table ? ), mod and median: means, mod and median counts for age categories of
respondents
Table 1 : Mean Table
Mean Table
Mean Score Level
3.01 to 5.00 High
3.00 Medium
0.00 to 2.99 Low

Table 2 Source: Ghanie Hj. Taib (1996)
Further analysis was done to get an idea of the level of financial literacy of the respondents and is described
in the Table. For each correct answer one mark is given while wrong answer no marks. Then a composite
score for 32 financial literacy items was calculated. The level of financial literacy is divided into three levels
which are low (1 to 6), medium (7 to 12) and high (13 to 20).
LEVEL OF KNOWLEDGE AND UNDERSTANDING

Score Table
Score Level
6 TO 8 High
4 TO 5 Medium
1 TO 3 Low
Table 3 Source: Developed for current study
24
3.9 Conclusion
It has explained the approach used to examine the data in this third chapter. Explain the data requirements
in this study in detail, starting with the study design statement and the design work done by the researcher
before to, during, and after data collection. The researcher has also indicated one of the requirements that
must be fulfilled in this study, including a description of the building of the instruments, sampling and
sampling procedures, and data analysis. A pilot research with good reliability and validity values has been
used as the foundation for more exacting instruments. Additionally, it is now easy for researchers to collect
reliable data for field study. To answer all questions, the researcher has utilised statistical techniques suited
to the study.
25
CHAPTER 4 : ANALYSIS DATA
4.1 Introduction
This chapter presents the results and discussion obtained from a questionnaire on the level of financial
literacy among Polytechnic Students: evidence from Nilai Polytechnic. A total of 318 questionnaires were
answered by respondents through Google forms. Therefore, this analysis is based on only 318 respondents
from Nilai Polytechnic students who received Krekjie Morgan's thumb sampling method.
The data analysis is divided into several parts, which is the background data of the respondents, the
researchers want to know level of knowledge and understanding about Online Forex Trading , driving
factors and preventing factors Onlie Forex Trading. Descriptive and multiple regression analysis methods
were used to answer the research questions to meet the research objectives.
4.2 Descriptive Analysis
4.2.1 Demographic Analysis
Based on the table, the percentage of male students (54%) is higher than female students (46%). The age
of the most respondents is 20 years old (49.7%). The most respondents are from Diploma in Mechanical
Engineering which is 17.3%. Most of the respondents are Malay (90.6%).Besides that, the majority of
respondents are islam. The distribution in terms of study semester is not uniform where semester 1 is
13.5%, semester 2 is 15.4%, semester 3 is 23.6%, semester 4 is 20.8%, and semester 5 is 26.7%.It was also
found that most students have a family income of RM 3,001 - 4,500 which includes (34.0%).
26
Table 4 : Respondents’ profile
Frequency Percent (%)

Gender Male 172 54.0
Female 146 46.0
Age 18 38 12.0
19 93 29.2
20 158 49.7
21 17 5.3
22 9 2.8
Semester 1 43 13.5
2 49 15.4
3 75 23.6
4 66 20.8
5 85 26.7
Programs DIB 43 13.5
DLS 35 11.0
DBS 38 11.9
DRM 38 11.9
DKM 55 17.3
DEM 36 11.3
DLH 36 11.3
DBT 37 11.6
Race Malay 288 90.6
Cina 13 4.1
India 11 3.5
Others 6 1.9
Religion Islam 288 90.6
Christian 11 3.5
Hindu 12 3.8
Others 7 2.2
Famliy Income RM 1,501 – 3,000 102 32.1
RM 3,001 – 4,500 108 34.0
27
RM 4,501 – 6,000 55 17.4
RM 6,001 – 8,000 30 9.4
More than RM 8,001 23 7.2
4.2.2 Analysis for Level of Knowledge and Understanding Forex Online Trading
As for the level of knowledge and understanding of the respondents studied, it is based on the
respondents' own knowledge about online forex trading. They have to choose an answer whether it is true
or false. The researcher made an analysis from the answers of the respondents who are students of Nilai
Polytechnic, Negeri Sembilan in the form of a graph chart.
Online Forex Trading is non compliant

with the shariah.
300
276
250
200
150
100
42
50
0
Yes No
Based on the graph above, a total of 276 (86.8%) students answered yes while a total of 42 (13.2%) students
answered no. the answer to the questionnaire is yes. This shows that many students know that online forex
trading is non-compliant with the shariah.
28
Forex is registered under Bank Negara
Malaysia.
250
212
200
150
106
100
50
0
Yes No
Based on the graph above, a total of 212 (66.7%) students answered yes while a total of 106 (33.3%)
students answered no. the answer to the questionnaire is yes. This shows that many students know that forex
is registered under Bank Negara Malaysia.
GBP/USD and AUD/USD is the currency

values for Forex Trading Exchange.
300
276
250
200
150
100
42
50
0
Yes No
Based on the graph above, a total of 276 (86.8%) students answered yes while a total of 42 (13.2%) students
answered no. the answer to the questionnaire is yes. This shows that many students know that GBP/USD
and AUD/USD is the currency values for Forex Trading Exchange.
29
students answered no. the answer to the questionnaire is no. This shows that many students know that Forex
and Bitcoin is not same trading transaction.
students answered no. the answer to the questionnaire is yes. This shows that many students know that
Forex only requires a low capital to invest compared to other trades.
30
students answered no. the answer to the questionnaire is no. This shows that many students know that
Forex is unlisted in Bursa Malaysia.
students answered no. the answer to the questionnaire is yes. This shows that many students know that a
fatwa has issued a law that online forex trading is illegal.
31
students answered no. the answer to the questionnaire is yes. This shows that many students know that a
forex provide high returns to its traders when trading takes place.
Table 5 : Descriptive analysis

No Statement Frequency Answer TRUE (%) FALSE (%)
STUDENT KNOWLEDGE IN ONLINE FOREX TRADING

1 Online Forex Trading is non n=318 True 86.8% 13.2%
compliant with the shariah.
2 Forex is registered under Bank N=318 True 66.7% 33.3%
Negara Malaysia.
3 GBP/USD and AUD/USD is the N=318 True 86.8% 13.2%
currency values for Forex
Trading Exchange.
4 Forex and Bitcoin is the same N=318 False 46.5% 53.%
trading transaction.
5 Forex only requires a low capital N=318 True 76.4% 23.6%
to invest compared to other
trades.
6 Forex is listed in Bursa Malaysia. N=318 False 42.1% 57.9%
7 A fatwa has issued a law that N=318 True 85.5% 14.5%
online forex trading is illegal.
Forex provide high returns to its N=318 True 79.2% 20.8%
8 traders when trading takes place.
32
4.4.3 Analysis for Driving Factors For Forex Online Trading
For the analysis of driving factors for online forex trading that is studied is from the perception of the
respondents. Respondents have to choose answers that either strongly disagree, disagree, neutral, agree or
strongly agree. The researcher made an analysis from the answers of respondents who are students of Nilai
Polytechnic, Negeri Sembilan in the form of a pie chart. The researcher will also identify factors that
motivate respondents to Online Forex Trading.
1 2 3 4 5
Strongly Disagree Neutral Agree Strongly Agree

Disagree
DRIVING FACTORS [ADVICE FROM

INFLUENTIAL PEOPLE MAKES YOUNG
PEOPLE WILLING TO IGNORE AND DESPISE
FATWA ABOUT FOREX.]
5% 3%
1
31% 16% 2
45%
The pie chart above shows the percentage of respondents who answered the driving factor question
regarding the statement ‘Advice from influential people makes young people willing to ignore and despise
fatwa about forex’. The results of the analysis showed that 14 respondents, which is 5%, chose to strongly
disagree. In addition, a total of 10 respondents with a percentage of 3% chose to disagree. For the Neutral
option, 52 respondents which is 16% have chosen it. Next, 144 respondents with a percentage of 45% have
chosen Agree. For last, 98 respondents with a percentage of 31% have chosen Strongly Agree.
33
DRIVING FACTORS [THE LUCRATIVE
RETURN THAT FOREX GIVES TO ITS
TRADERS MAKE THEM WANT TO TRADE TO
ACHIEVE MORE PROFITS.]
4% 4%
24% 1
17%
2
51%
regarding the statement ‘The lucrative return that forex gives to its traders make them want to trade to
achieve more profits’. The results of the analysis show that 11 respondents, which is 4%, chose Strongly
Disagree. In addition, a total of 13 respondents with a percentage of 4% chose Disagree. For the Neutral
option, 54 respondents which is 17% have chosen it. Next, 163 respondents with a percentage of 51% chose
Agree. For last, 77 respondents with a percentage of 24% have chosen Strongly Agree.
34
DRIVING FACTORS [ADVERTISEMENTS
MADE BY BROKERS THAT ATTRACT MANY
PEOPLE TO INVEST IN ONLINE FOREX
TRADING.]
3%
2%
1
27% 19%
2
5
49%
regarding the statement ‘Advertisements made by brokers that attract many people to invest in online forex
trading’. The results of the analysis show that 11 respondents, which is 3%, chose Strongly Disagree. In
addition, a total of 5 respondents with a percentage of 2% chose Disagree. For the Neutral option, 60
respondents which is 19% have chosen it. Next, 155 respondents with a percentage of 49% chose Agree.
For last, 87 respondents with a percentage of 27% have chosen Strongly Agree.
35
DRIVING FACTORS [THERE IS A LOT OF
ADVERTISING ABOUT ONLINE FOREX
TRADING ON SOCIAL MEDIA POSTED BY
FAMOUS INFLUENCERS.]
3% 1
1%
19%
31% 2
5
46%
regarding the statement ‘There is a lot of advertising about online forex trading on social media posted by
famous influencers’. The results of the analysis show that 11 respondents, which is 3%, chose Strongly
Disagree. In addition, as many as 4 respondents with a percentage of 1% chose Disagree. For the Neutral
36
DRIVING FACTORS [THE FOREX OPERATING
HOURS ARE OPEN FOR 24 HOURS MAKING IT
EASY FOR INVESTORS TO INVEST AT ANY
TIME.]
3%2%
1
27%
24% 2
5
44%
regarding the statement ‘The forex operating hours are open for 24 hours making it easy for investors to
invest at any time’. The results of the analysis show that 10 respondents, which is 3%, chose Strongly
37
DRIVING FACTORS [MANY STUDENTS MAKE
FOREX A PART-TIME ACTIVITIES BECAUSE
IT CAN BE DONE ANYWHERE LIKE ON A
SMARTPHONE.]
1
3% 2%
27% 2
22%
5
46%
regarding the statement ‘Many students make forex a part-time activities because it can be done anywhere
like on a smartphone’. The results of the analysis show that 10 respondents, which is 3%, chose Strongly
38
DRIVING FACTORS [THE BROKER OFFERS A
PACKAGE OF ASSISTANCE IN ONLINE FOREX
TRADING SUCH AS COPY TRADING APP.]
4% 2%
26% 1
25%
2
43% 5
regarding the statement ‘The broker offers a package of assistance in online forex trading such as copy
trading app’. The results of the analysis show that 12 respondents, which is 4%, chose Strongly Disagree.
In addition, a total of 7 respondents with a percentage of 2% chose Disagree. For the Neutral option, 80
39
DRIVING FACTORS [THE INITIAL CAPITAL
OFFERED IS LOW AND THE RETURN IS HIGH
COMPARED TO OTHER TRADES.]
4% 3% 1
25%
2
25%
43% 5
regarding the statement ‘The initial capital offered is low and the return is high compared to other trades’.
The results of the analysis show that 13 respondents, which is 4%, chose Strongly Disagree. In addition, a
total of 9 respondents with a percentage of 3% chose Disagree. For the Neutral option, 78 respondents
which is 25% have chosen it. Next, 138 respondents with a percentage of 43% chose Agree. For last, 80
respondents with a percentage of 25% have chosen Strongly Agree.
40
Table 6 : Driving Factors
Question Strongly Disagree Neutral Agree Strongly Mean

Disagree Agree
Advice from
influential people 14 10 52 144 98
makes young people 3.95
willing to ignore and 5% 3% 16% 45% 31%
despise fatwa about
forex.
The lucrative return 11 13 54 163 77
that forex gives to its 3.89
traders make them 4% 4% 17% 51% 24%
want to trade to
achieve more profits.
Advertisements made 11 5 60 155 87
by brokers that attract
many people to invest 3% 2% 19% 49% 27% 3.95
in online forex trading.
There is a lot of
advertising about 11 4 59 145 99
online forex trading on 4
social media posted by
3% 1% 19% 46% 31%
famous influencers.
The forex operating
hours are open for 24 10 8 75 140 85
hours making it easy 3.89
for investors to invest
3% 2% 24% 44% 27%
at any time.
Many students make
forex a part-time 10 7 69 146 86
activities because it can 3.92
be done anywhere like
3% 2% 22% 46% 27%
on a smartphone.
41
The broker offers a 12 7 80 136 83
package of assistance 3.85
in online forex trading 4% 2% 25% 43% 26%
such as copy trading
app.
The initial capital 13 9 78 138% 80
offered is low and the 3.83
4% 3% 25% 43% 25%
return is high
compared to other
trades.
based on the table above, the main driving factor is advertising about online forex trading on social media
posted by famous influencers with a mean of 4. Followed by other main driving factors, Advice from
influential people makes young people willing to ignore and despise fatwa about forex and
Advertisements made by brokers that attract many people to invest in online forex trading with a mean of
3.95 each. while the weakest driving factor is The initial capital offered is low and the return is high
compared to other trades with a mean value of 3.83.
42
4.4.4 Analysis for Preventing Factors For Forex Online Trading
For the analysis of factors preventing for online forex trading that is studied is from the perception of the
respondents. Respondents have to choose answers that either strongly disagree, disagree, neutral, agree or
strongly agree. The researcher made an analysis from the answers of respondents who are students of Nilai
Polytechnic, Negeri Sembilan in the form of a pie chart. The researcher will also identify factors that
engaging respondents to Online Forex Trading.
1 2 3 4 5
Strongly Disagree Neutral Agree Strongly Agree

Disagree
FACTORS PREVENTING [THE MAJORITY OF

WORLD AUTHORITIES STATE THAT ONLINE
FOREX TRADING IS ILLEGAL AND NOT
ALLOWED.]
1%
2% 1
30% 26% 2
5
41%
The pie chart above shows the percentage of respondents who answered the factor preventing question
regarding the statement ‘The majority of world authorities state that online forex trading is illegal and nott
allowed'. The results of the analysis show that 2 respondents which is 1% choose Strongly Disagree. In
43
FACTORS PREVENTING [YOUNG PEOPLE
LACK EXPOSURE TO THIS ONLINE FOREX
TRADING INVESTMENT.]
1% 1
20% 2%
26% 2
5
51%
regarding the statement ‘Young people lack exposure to this online forex trading investment'. The results
of the analysis show that 4 respondents, which is 1%, chose Strongly Disagree. In addition, a total of 6
respondents with a percentage of 2% chose Disagree. For the Neutral option, 82 respondents which is 26%
have chosen it. Next, 161 respondents with a percentage of 51% chose Agree. For last, 65 respondents with
a percentage of 20% have chosen Strongly Agree.
44
FOLLOW THE RULING OF THE FATWA
WHICH STATES THAT ONLINE FOREX
TRADING IS HARAM.]
1% 1
22%
3%
27% 2
47%
5
regarding the statement ‘Young people follow the ruling of the fatwa which states that online forex trading
is haram’. The results of the analysis show that 4 respondents, which is 1%, chose Strongly Disagree. In
45
FACTORS PREVENTING [THERE ARE
ELEMENTS OF RIBA, GHARAR & MAISIR IN
ONLINE FOREX TRADING THAT ARE NOT
BASED ON SHARIA.]
1%
2%
1
30% 24%
2
5
43%
regarding the statement ‘There are elements of riba, gharar & maisir in online forex trading that are NOt
based on sharia’. The results of the analysis show that 4 respondents, which is 1%, chose Strongly Disagree.
In addition, a total of 6 respondents with a percentage of 2% chose Disagree. For the Neutral option, 75
46
HAVE LACK OF CAPITAL AND SAVINGS TO
INVEST IN ONLINE FOREX TRADING.]
1%
1
19% 2%
30% 2
48%
5
regarding the statement ‘Young people have lack of capital and savings to invest in online forex trading’.
The results of the analysis show that 3 respondents, which is 1%, chose Strongly Disagree. In addition, a
total of 8 respondents with a percentage of 2% chose Disagree. For the Neutral option, 94 respondents
which is 30% have chosen it. Next, 152 respondents with a percentage of 48% chose Agree. For last, 61
respondents with a percentage of 19% have chosen Strongly Agree.
47
FACTORS PREVENTING [LACK OF YOUNG
PEOPLE'S INTEREST IN ONLINE FOREX
TRADING.]
2% 1
18%
2%
2
32%
3
46% 5
regarding the statement ‘Lack of young people's interest in online forex trading’. The results of the analysis
show that 5 respondents, which is 2%, chose Strongly Disagree. In addition, a total of 7 respondents with a
percentage of 2% chose Disagree. For the Neutral option, 102 respondents which is 32% have chosen it.
Next, 148 respondents with a percentage of 46% chose Agree. For last, 56 respondents with a percentage
of 18% have chosen Strongly Agree.
48
FACTORS PREVENTING [NO KNOWLEDGE IN
HANDLING ONLINE FOREX TRADING .]
1%
18% 1
2%
2
31%
48% 5
regarding the statement ‘No knowledge in handling online forex trading’. The results of the analysis show
that 3 respondents, which is 1%, chose Strongly Disagree. In addition, a total of 7 respondents with a
percentage of 2% chose Disagree. For the Neutral option, 98 respondents which is 31% have chosen it.
Next, 154 respondents with a percentage of 48% chose Agree. For last, 56 respondents with a percentage
of 18% have chosen Strongly Agree.
49
FACTORS PREVENTING [EXPOSURE TO
SAVINGS IS BETTER THAN INVESTING IN
ONLINE FOREX TRADING.]
1% 1
1%
24%
28% 2
5
46%
regarding the statement ‘Exposure to savings is better than investing in online forex trading’. The results of
the analysis show that 2 respondents which is 1% choose Strongly Disagree. In addition, a total of 5
respondents with a percentage of 1% chose Disagree. For the Neutral option, 88 respondents which is 28%
have chosen it. Next, 146 respondents with a percentage of 46% chose Agree. For last, 76 respondents with
a percentage of 24% have chosen Strongly Agree.
50
Question Strongly Disagree Neutral Agree Strongly Mean
Disagree Agree
The majority of world
authorities state that 2 7 83 131 95
online forex trading is 3.97
illegal and not allowed. 1% 2% 26% 41% 30%
Young people lack 4 6 82 161 65

exposure to this online 3.87
forex trading 1% 2% 26% 51% 20%
investment..
Young people follow 4 10 84 149 71
the ruling of the fatwa
which states that online 1% 3% 27% 47% 22% 3.86
forex trading is haram.
There are elements of
riba, gharar & maisir in 4 6 75 136 97
online forex trading 3.99
that are not based on
1% 2% 24% 43% 30%
sharia.
Young people have
lack of capital and 3 8 94 152 91
savings to invest in 3.81
online forex trading.
1% 2% 30% 48% 19%
Lack of young people's
interest in online forex 5 7 102 148 56
trading. 3.76
2% 2% 32% 46% 18%
No knowledge in 3 7 98 154 56
handling online forex 3.80
trading . 1% 2% 31% 48% 18%
51
Exposure to savings is 2 5 88 146% 76
better than investing in 3.91
1% 1% 28% 46% 24%
online forex trading.
based on the table above, the main preventing factors are There are elements of riba, gharar & maisir in
online forex trading that are not based on sharia with a mean of 3.99. The second preventing factors is The
majority of world authorities state that online forex trading is illegal and not allowed with a mean of 3.97.
The third highest mean for preventing factors is Exposure to savings is better than investing in online forex
trading with a mean of 3.91. while the lowest preventing factor is Lack of young people's interest in online
forex trading with a mean value of 3.76.
52
CHAPTER 5 : RECOMMENDATION AND CONCLUSION
5.1 INTRODUCTION
This chapter will include discussions, study conclusions, proposed solutions, suggestions and potential
studies to be studied again in the future. At the end of this chapter, the researcher will provide some
suggestions for further research that can be studied by future researchers.
The purpose of this study is to examine Student Perceptions in Online Forex Trading: Evidence from Value
Students in terms of the level of knowledge and understanding of PNS students about online foreign
currency trading as well as determining the driving factors for PNS students involved in online foreign
currency trading and factors preventing PNS students from engaging in online foreign currency trading.
5.2 CONCLUSION AND DISCUSSION
The results of this study found that the level of knowledge and understanding is good. The dimension of
understanding of forex is good. In some aspects, such as forex listed in Bursa Malaysia is simple and it
shows that polytechnic students know less about forex relations with other institutions.
Based on the results of the driving factor analysis, the researcher has identified the main driving factors that
cause young people to get involved in online foreign currency trading. The main factor that motivates them
is a lot of advertising about online forex trading on social media posted by famous influencers. This shows
that the perception of PNS students has an impact on advertisements made by influencers. The second factor
that drives PNS students to Online Forex Trading is that advice from influential people makes young people
willing to ignore and set aside fatwas about forex. So, we can see this factor can cause young people to
ignore a law. The next driving factor is the advertisement made by the broker which attracts many people
to invest in online forex trading. Based on this factor, the researcher can see the perception of PNS students
who are easily attracted by advertisements and the influence conveyed. Also, the lowest motivating factor
in encouraging young people to trade forex online is that the initial capital offered is low and the returns
are high compared to other trades. These factors discourage young people from investing in online forex
trading.
53
Apart from the motivating factors, there are also factors that prevent from engaging in online foreign
currency trading. Based on the analysis made based on survey questions about the hindering factors, this
factor also has the main factor of the existence of riba, gharar & maisir elements in online forex transactions
that are not based on sharia. This factor clearly shows the perception of PNS students towards online forex
trading that does not comply with Sharia. The next deterrent factor is that the majority of world authorities
state that online forex trading is illegal and not allowed. This shows that young people know it is wrong in
terms of sharia. The third deterrent factor is that exposure to savings is better than investing in online forex
trading. For this analysis, the lowest inhibiting factor was the lack of interest among young people in online
forex trading.
5.3 RECOMMEDATION
Based on the findings of the above study, a comprehensive approach is necessary to increase the level of
knowledge about online forex trading. Educational programs such as seminars and workshops on online
forex trading exposure for these young people so that they can arm themselves with accurate information.
As we know, online forex trading is illegal. So of course we don't want to earn that income from illegal
sources. So we must have enough knowledge so that we can avoid getting stuck with online forex trading.
Among the recommendations that can be made for this study is to create a regulatory framework to disclose
the pros and cons of online forex trading. This regulatory can be made if other researchers can continue this
study to provide more in-depth exposure to young people and the community out there about online forex
trading. If these pros and cons can be communicated to many people, it can reduce the involvement of
young people in online forex trading.
The researcher selected only students at Nilai Polytechnic which may explain that our findings may not be
generalized to students at other Polytechnics across Malaysia. Future studies are therefore encouraged to
include different samples to increase the generalizability of the findings at other institutions. At the same
time, this study needs to further develop knowledge about online forex trading and identify the driving and
hindering factors that can influence online forex trading.
54
5.4 SUMMARY
This chapter discusses the reported research findings and their appropriateness in answering the research
objectives outlined. The discussion also explains how each hypothesis compares with past literature
reviews. Through the discussions that have been made, the conclusions of the study have been reviewed
and some suggestions and recommendations for future studies have been highlighted for the actions of
individuals who are responsible for ensuring that the young people of the future have a high level of
knowledge and understanding about online forex trading.
55
GANTT CHART
56
REFERENCES
Abdul Rahman A Shukor , & Joni Tamkin Borhan. (2017). Foreign Exchange in Conventional Banking
Industry: An Analysis from Shariah Perspective. Syariah Journal Vol 25, no. 3 (2017) . Kuala
Lumpur: University of Malaya.
al-Jaziri, A. R. (2003). Kitab al-Fiqh Ala Mazahib al-Arba’ah. Beirut: Dar al-Kitab al-Ilmiyyah.
al-Zuhaili, W. (1984). al-Fiqh al-Islami Waadillatuh. Damsyik: Dar al-Fikr.
Asmadi, M. (2011). Kefahaman Umum Terhadap Perdagangan Matawang (Forex) Dan Kedudukannya.
Muzakarah Ahli‐Ahli Majlis Penasihat Syariah Institusi Kewangan.
Daniel, A. A. (2019). Currency Order Flow, Exchange Rate Dynamics And Market Intervention:
Empirical Evidence From The Malaysian And Thailand Foreign Exchange Markets. Business &
Finance Journal Vol. 10 No. 2.
Dr. Mohamad Fazli, S. (2017). Pengaruh forex terhadap pelajar IPT. Utusan Malaysia.
Eza. (2017, March 21). Forex Online – Fatwa Kata Haram, Tapi Masih Ramai Yang Selamba Join.
Retrieved from Majalah Labur: https://www.majalahlabur.com/halal-haram/forex-online-haram-
tapi-masih-ramai-yang-join/
Eza. (2021, June 23). 6 Sebab Anak Muda Terlibat Dengan Forex Trading Online. Retrieved from
Majalah Labur: https://www.majalahlabur.com/forex/6-sebab-anak-muda-masih-terlibat-dengan-
forex-trading-online/
FBS. (2022, 10 28). What Is Forex ? Retrieved from FBS ONLINE FOREX BROKER: https://ms-
brokerfbs.com/analytics/guidebooks/what-is-forex-10
Khosiah, N. (2020). Forex Trading Menurut Islam. USRAH Jurnal Hukum Keluarga Islam Vol 1, No. 1.
Jawa Timur: STAI Muhammadiyah Probolinggo.
Krejcie, R.V., & Morgan, D.W. (1970). Determining Sample Size for Research Activities. Educational
and Psychological Measurement.
Mustafa al-Bugha. (1992). Al-Fiqh al-Manhaji ‘Ala Mazhab al-Imam as-Syafie. Beirut: Dar al-Qalam.
Notoatmodjo. (2010). Metodologi Penelitian Kesehatan. Jakarta: Rineka.
Pejabat Mufti Wilayah Persekutuan. (2016, November 14). HUKUM FOREX. Retrieved from Fatwa,
Muzakarah Jawatankuasa Majlis:
https://www.facebook.com/muftiWilayahPersekutuan/photos/a.427172850756033/809549849184
996/?type=3
Rafiqah. (2020). Analisis Shari’ah Compliance Pada Trading Forex Online. MISYKAT Jurnal Ilmu-ilmu
Al-Quran Hadist Syari ah dan Tarbiyah Vol 5, No 1. Indonesia.
Rahman, M. Y. (2016). Urus Niaga Mata Wang Asing (Forex) Haram. Ringgit Edisi Okt 2016. Kuala
Lumpur: Bank Negara Malaysia.
Sinar Harian. (2021, February 16). Retrieved from Forex Haram Kerana Ada Unsur Riba.
57
Sinar Harian. (2021, Februari 16). Retrieved from Hati Hati Terima Pandangan Berkaitan Forex.
Syed Abdul Rehman Bukhari. (2021). Sample Size Determination Using Krejcie and Morgan Table.
Trivedi, S. R. (January 2019). A Volatile Mind: Trader's Perceptions and Foreign Exchange Market
Volatility. SSRN Electronic Journal.
APPENDIX : QUESTIONNAIRE
Section A – Demographic Information
1. Gender
o Male
o Female
2. Age
(_______)
3. Semester
o Semester 1
o Semester 2
o Semester 3
o Semester 4
o Semester 5
4. Programme
o DIB
o DLS
o DBS
o DRM
o DKM
o DEM
o DLH
o DBT
58
5. Religion
o Malay
o Chinese
o Indian
o Others
6. Famliy Income
o RM 1,501 – 3,000
o RM 3,001 – 4,500
o RM 4,501 – 6,000
o RM 6,001 – 8,000
o More than RM 8,001
B. FINANCIAL LITERACY
No Statement TRUE (%) FALSE (%)
STUDENT KNOWLEDGE IN ONLINE FOREX TRADING
1 Online Forex Trading is non compliant with

the shariah.
2 Forex is registered under Bank Negara
Malaysia.
3 GBP/USD and AUD/USD is the currency values
for Forex Trading Exchange.
4 Forex and Bitcoin is the same trading
transaction.
5 Forex only requires a low capital to invest
compared to other trades.
6 Forex is listed in Bursa Malaysia.
7 A fatwa has issued a law that online forex

trading is illegal.
Forex provide high returns to its traders when
8 trading takes place.
59
C. DRIVING FACTORS OF FOREX ONLINE TRADING
1 2 3 4 5
Strongly Disagree Disagree Neutral Agree Strongly agree
Strongly Strongly
No STATEMENTS Disagree Disagree Neutral Agree agree
1 Advice from influential 1 2 3 4 5

people makes young people
willing to ignore and despise
fatwa about forex.
2 The lucrative return that forex 1 2 3 4 5
gives to its traders make them
want to trade to achieve more
profits.
3 Advertisements made by 1 2 3 4 5
brokers that attract many
people to invest in online
forex trading.
4 There is a lot of advertising 1 2 3 4 5
about online forex trading on
social media posted by
famous influencers.
5 The forex operating hours are 1 2 3 4 5
open for 24 hours making it
easy for investors to invest at
any time.
6 Many students make forex a 1 2 3 4 5
part-time activities because it
can be done anywhere like on
a smartphone.
7 The broker offers a package 1 2 3 4 5
of assistance in online forex
trading such as copy trading
app.
8 The initial capital offered is 1 2 3 4 5
low and the return is high
compared to other trades.
60
D. PREVENTING FACTORS OF FOREX TRADING ONLINE
1 2 3 4 5
Strongly Disagree Disagree Neutral Agree Strongly agree
Strongly Strongly
No STATEMENTS Disagree Disagree Neutral Agree agree
1 The majority of world 1 2 3 4 5

authorities state that online
forex trading is illegal and not
allowed.
2 Young people lack exposure 1 2 3 4 5
to this online forex trading
investment.
3 Young people follow the 1 2 3 4 5
ruling of the fatwa which
states that online forex trading
is haram.
4 There are elements of riba, 1 2 3 4 5
gharar & maisir in online
forex trading that are not
based on sharia.
5 Young people have lack of 1 2 3 4 5
capital and savings to invest
in online forex trading.
6 Lack of young people's 1 2 3 4 5
interest in online forex
trading.
7 No knowledge in handling 1 2 3 4 5
online forex trading .
8 Exposure to savings is better 1 2 3 4 5
than investing in online forex
trading.
61

BP Proposal Final

Uploaded by

Document Information

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

BP Proposal Final

Uploaded by

Copyright:

Available Formats

COMMERCE DEPARTMENT

DPB50163 – BUSINESS PROJECT

NUM NAME MATRIC NUMBER

1 MUHAMMAD HAZIQ BIN ROSLI 23DIB20F1024

2 AZAMUDDIN BIN AZMAN 23DIB20F1028

3 AHMAD A’FIF BIN SHAIROZI 23DIB20F1018

SUPERVISOR : EN. ZUL AIZAT BIN HAMDAN

Perpustakaan Negara Malaysia Cataloguing-in-Publication Data

Researcher’s Signature Supervisor’s Signature

Muhammad Haziq Bin Rosli En. Zul Aizat Bin Hamdan

Azamuddin Bin Azman

Ahmad A’fif Bin Shairozi

STUDENT PERCEPTION IN ONLINE FOREX TRADING :

EVIDENCE FROM POLYTECHNIC NILAI

Muhammad Haziq Bin Rosli

Politeknik Nilai, Bandar Enstek, Negeri Sembilan

1.2 Business Problem or Issues

1.3 Business Project Objectives

1.4 Limitation of Business Project

CHAPTER 2 : LITERATURE REVIEW

2.2 Literature Review of Forex (Fx)

3. Submission in the contract ceremony

4. The contract is final

a) buy or borrow any gold or foreign currency from;

2.5 Perception of Forex Online Trading

2.5.1 Level of Knowledge and Understanding Forex Online Trading

Figure 1 SWOT Analysis

3.3 Research Design

3.4 Research Instrument

Section A – Demographic Information

Section B – Knowledge About Forex

• Online Forex Trading is non-compliant with the shariah.

Section C – Driving Factors

Section D – Factors Preventing

3.5 Population and Sampling

a) Get a thorough sampling framework.

Department Course Sample Total

Agro technology & DBT 44

Table 1 Sample Size Each Department

3.6 Data Collection

3.8 Descriptive Analysis

Table 1 : Mean Table

Mean Score Level

3.01 to 5.00 High

0.00 to 2.99 Low

LEVEL OF KNOWLEDGE AND UNDERSTANDING

4.2 Descriptive Analysis

4.2.1 Demographic Analysis

Frequency Percent (%)

Online Forex Trading is non compliant

GBP/USD and AUD/USD is the currency

Table 5 : Descriptive analysis

STUDENT KNOWLEDGE IN ONLINE FOREX TRADING

Strongly Disagree Neutral Agree Strongly Agree

DRIVING FACTORS [ADVICE FROM

Question Strongly Disagree Neutral Agree Strongly Mean

Strongly Disagree Neutral Agree Strongly Agree

FACTORS PREVENTING [THE MAJORITY OF

Young people lack 4 6 82 161 65

2% 2% 32% 46% 18%

5.2 CONCLUSION AND DISCUSSION

Section A – Demographic Information

STUDENT KNOWLEDGE IN ONLINE FOREX TRADING

1 Online Forex Trading is non compliant with