Okay so i really wanted to get into Forex Trading but the problem is that I saw a SEC advisory that announced that Forex Trading is illegal. However, there are foreign brokers from outside the country that are regulated and approved by the BSP. This lead me to believe that the SEC only released this statement because a lot of people were scammed by fake brokers and companies. Furthermore, there is still a lot of Forex Traders in the Philippines and there hasnt been an incident of a day trader being arrested. I really wanted to get into Forex Trading but im scared that i might be imprisoned.
I've been trading Forex (CFD) pairs such as USDJPY, GBPUSD, EURUSD etc, the past year or so. I was wondering if anyone would be able to help me out with my tax situation. I did incur some losses (~$2000) and was wondering if I can claim it as a deductable in my tax return. Or would it be marked up as a CGT loss and that's about it? Any help would be appreciated.
Buenas, alguien aquí ha estado alguna ves en algún tipo de trading o forex? Cual ha sido su experiencia? Porque les fue mal o porque les fue bien? Cuanto invirtieron y cuánto ganaron? Que plataforma usaban para operar? *Ahora con esto de la pandemia esta muy de moda estas alternativas para ganar dinero y cosas pero realmente funcionan?
I’m an Equities trader and Forex trading seems impossible to me
This is an admittedly strange post, but the sentiment in the subject has been bugging me for a very long time. I’m an equities trader and I rely heavily on momentum, L2, and volume for my trading in addition to typical TA tools like levels, indicators, and patterns. I’m struggling to understand how people trade Forex effectively. My understanding is that Forex markets have no reliable volume and no real indication of order flow. When I look at a Forex chart or examples of Forex setups/trades, I just see what looks like unpredictable chop. I also don’t see much structure by way of different setups or trade types, just longer term (hours or days) support/resistance levels that seem to more arbitrarily break or hold compared to in play equities. My question is: what am I missing such that people are able to trade Forex successfully without order or volume information?
[ Bitcoin ] Don’t fall for Bitcoin forex trading Scam
[ 🔴 DELETED 🔴 ] Topic originally posted in Bitcoin by Philman1027 [link]
I’m a victim of Bitcoin Scam. I managed to recover every penny from the $15,700 i lost to a Forex scam through the help of a fraud investigation firm without paying any upfront fee but they charged 30% from my money recovered
Philman1027 your post has been copied because one or more comments in this topic have been removed. This copy will preserve unmoderated topic. If you would like to opt-out, please send a message using [this link].
Okay so i really wanted to get into Forex Trading but the problem is that I saw a SEC advisory that announced that Forex Trading is illegal. However, there are online brokers from outside the country that are regulated and approved by the BSP. This lead me to believe that the SEC only released this statement because a lot of people are scammed by fake brokers and companies. Furthermore, there are still a lot of Forex Traders in the Philippines and there hasnt been an incident of a day trader being arrested. I really wanted to get into Forex Day Trading but im scared that i might be imprisoned.
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Hello Guys! I have been thinking of taking forex classes, I’ve been interested with it for such a long time and only now have I considered and really thought it through. So I looked around and saw Leo Advantage which offers classes around 40k. I wanted to ask the following.
Has anyone been a member of the org and actually tried trading using their system?
Anybody here reached Level 2 or 3 and been profitable?
It seems like a TP to SL ratio of 1:5 is very difficult to recover from. Hope you guys can give your two cents about this! And if you know other teachers who are effective, please feel free to reco. Thank you!
I have been trading forex for almost 2 years and i am not improving i have burn’t countless accounts. And i decided to use algos for trading forex. Any ideas on the best accurate algo i could use in forex trading.
Looking for a good broker for options (for US based stocks) and forex trading. French tax resident
Hi guys, would be grateful for any insight about options and forex trading brokers present for French tax residents as such. Plan to start with an outlay of about 10k EUR and want to invest in US based stocks primarily. Would also be grateful if you might know of any platforms that provide demo accounts for options trading here as well.
Has anyone got experience in using Forex Trading Robots? I had been wondering whether automated computer software could be used to make a small passive income by exchanging currencies and taking advantage of the small peaks and troughs in exchange rates. A quick google showed these robots but based on the limited number of articles on them I presume like a lot of investments the risk outweighs the reward?
Hi everyone, I am a complete beginner to Forex trading (and to this sub) so I'm curious to get your thoughts on what's the best Forex trading platform in the UK and what resources I should do to improve my trading?
Good evening everyone, Before the story commences, I am unsure if posting it on this subreddit will be of any help, but I do have a certain faith in the overall Reddit community. About two weeks ago my mother informed me about a conversation she was having with a real friend of hers. They were talking about investing money in something (it was quite vague and unspecified). So naturally I asked some questions; 'What are you investing in? What is the company name?'. It turned out to be a investment in Bitcoin through a company by the name of MTI. Mirror Trading International. Then of course I did some digging, made myself more familiar with how cryptocurrency works and what the processes behind it entail. The search results of MTI show multiple links to news articles disputing the legitimacy of MTI. My mother joined a Zoom call with the friend from before and some others that already partook in this movement. There they asked questions and answered questions about MTI and how it works. MTI claims this: " You too can start to benefit from this marvellous opportunity. Remember, your trading pool balance will fluctuate with the changing Bitcoin price, but your Bitcoin WILL be growing, and when the price of Bitcoin rises, you will be perfectly placed to take full advantage thereof. " Seemingly you invest money in bitcoins and the money of all the investors is gathered in a forex trading pool. Every day investors are able to see the trades in the pool (made my an AI trading bot). Without doing anything you can passively build or grow your balance. I honestly think the revenue that comes back to investors are the funds provided by new members (like in a Ponzi scheme). The returns they promise are way too optimistic to be genuine. The CEO of the company has participated in other fraudulent activities like the Kipi scam. Somehow I tried talking to the people from the Zoom call my mother attended, explaining why I do not trust the company and its intentions. Sadly, all falls on deaf ears and they are unconditionally sure about the legitimacy of MTI. My question: What are your regards on this topic and on MTI? How should I convince those involved that this is not a risk worth taking. It makes me worry more than I want to. Thank you for your time in advance!
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