What is a Futures Broker Representative?

Futures Broker Representative (FBR) refers to any individuals who are holding a Capital Markets Services Representative’s License (CMSRL), dealing in derivatives under Securities Commission Malaysia. FBR is allowed to promote and to carry out the regulated business in listed derivatives as stipulated under the Capital Markets and Services Act 2007 (CMSA 2007). Some of the key responsibilities of the FBRs are to build good relationship with their prospects and clients, to monitor the clients’ portfolio in listed derivatives and to execute orders for the clients.

What are the criteria to become a FBR?

  • Any individual at least 21 years old and above
  • A degree holder or professional qualification from an institution recognised by the Malaysian government
  • Pass two (2) modules of Securities Commission Licensing Examination:

    • Module 14: Derivatives
    • Module 16: Rules & Regulations of Derivatives
  • No adverse record and meeting the “fit and proper” requirements as stipulated under CMSA 2007.

What are the benefits of becoming a FBR with Kenanga Futures?

Attractive commission sharing package with good earning potential

Training and business partner toolkit will be provided to support your derivatives business

Flexibility to work from home

Strong support from Kenanga Futures in expanding your business and delivering your best services to your clients

Various e-learning resources such as educational events, materials, video tutorials and gamification to assist your clients to understand more in depth on listed derivativess

Client’s e-onboarding provides a convenient to your prospects to open an account with Kenanga Futures online

DO’s and DON’Ts as a


  • Perform any activities permitted as a licensed holder of CMSRL, dealing in derivatives under CMSA 2007 and/or the Rules and Regulations of Bursa Malaysia Derivatives (BMD).
  • Carry out suitability assessment of clients and providing awareness of the risks involved in trading derivatives.
  • Provide recommendation and services in relation to dealing in derivatives.
  • Conduct the client’s due diligence and/or on-going reviews and related requirements as needed.
  • Take orders, execute trades and/or give transactional advice to clients.
  • Always maintain professional conduct and high standards of integrity and fair dealing to clients.


  • NOT engage in any unlawful or irregular practice including breaching any act in CMSA 2007, the Rules and Regulations of BMD and/or internal policies and procedures of Kenanga Group and Kenanga Futures.
  • NOT do or cause permit to be done any act which would affect the financial integrity, reputation or reputation of interest of the exchanges and Kenanga Futures.
  • NOT unlawfully delegate powers or assign duties properly vested in the FBR to unauthorised person.
  • NOT participate in misleading appearance of active trading in any derivatives products on the market or false appearance with respect to the price of any such derivative products
  • NOT directly or indirectly involved in manipulation of the derivatives market or the underlying market of the derivatives products.

How to become

Step 1

Inform Kenanga Futures that you are interested to become an FBR.

Step 2

Pass two (2) relevant modules of Securities Commission Licensing Examination and apply as CMSRL, dealing in derivatives with Kenanga Futures.

Step 3

Complete the necessary forms and submit required supporting documents. Your license application shall be subject to the approval of Securities Commission Malaysia and BMD.

Step 4

Finally, you are an FBR with Kenanga Futures!

Let’s start your Futures Broker Representative journey with Kenanga Futures!

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