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Is Forex Trading legal in the Philippines?

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.
submitted by Groundbreaking_Tie76 to phinvest [link] [comments]

Is Forex Trading legal in the Philippines?

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.
submitted by Groundbreaking_Tie76 to LawStudentsPH [link] [comments]

Forex trading

Hello, are there any FX traders here? Just want to ask few questions: 1. How was the experience so far? Was it profitable or not? 2. Is it easy to deposit and withdraw to online brokers? 3. Are there any BSP regulations regarding forex trading (like is taxable, is it really allowed or so)
I'm really curious and interested to forex trading bc I think mas applicable yung Technical Analysis as compared to PSE since ang rare ng opportunities sa ph stocks due to low market participation(as compared to forex wc is global). Hoping to get good answers, thank you! :)
submitted by rjpv123 to phinvest [link] [comments]

How to Open Forex Trading Account Philippines Installations-Anleitung für Skripte in MT4 (am Bsp. des kostenlosen What is Forex Pips, Lot Size and Leverage - Tagalog Best Forex Brokers In Philippines 2020 (Beginners Guide ... How to Install Forex MT4 and open Demo account (Beginners) - Tagalog

The BSP Forex policies and regulations. The BSP organization is imposing strict rules and requirements on those who are planning to establish the Forex brokerage company. Why? Because for the developing country, the possibility of scams and money laundering is the last thing desired. The aspects that might be attentively studied are who exactly has a right to trade, what currencies can be ... BSP eases forex limits for consumers, corporations. The new regulations lift the cap on foreign currency that can be purchased without supporting documents to $500,000 for individuals and $1 ... Bangko Sentral Further Eases Forex Regulations in the Philippines. 16 Dec, 2016 by Karth Nara. Font size -16 + The central bank of Philippines, the Bangko Sentral ng Pilipinas (BSP) has further eased the foreign exchange rules in a bid encourage the entry of foreign banks into the country. Amendments to the Manual of Rules on Foreign Exchange Transactions have been made to make it correspond ... BSP Forex Brokers Regulation. Are you on the lookout for the best BSP regulated brokers? If you’re interested in trading in the Philippines, you’ve probably come across the Bangko Sentral ng Pilipinas – or BSP – already. Our experts will help you get a deeper understanding of how the best BSP regulated brokers operate, as well as some tips on how to contact them and more. Anyone ... To protect investors and traders in the forex market, each country that gets involved in forex trading and the financial markets must have its proper regulation and to police these regulations, they create these what’s called forex regulatory bodies. Forex regulatory bodies are also called by these other names: forex regulatory agencies For retail FX traders, the biggest risk of non-regulation is that of illegal activity or outright fraud. Financial regulation is a form of regulation or supervision, which subjects financial institutions to certain requirements, restrictions, and guidelines.. Forex market regulation refers to the rules and laws that firms operating in the forex industry must follow. BSP regulated Forex brokers also face punishment and severe consequences if they are found to be in direct violation or contempt of the guidelines issued by the SEC. Unlike the other leading regulatory agencies from across the globe, the SEC has absolute power over companies as well as individuals and can seek help from civil, military, or independent enforcement organizations for carrying out ...

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How to Open Forex Trading Account Philippines

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