Foreign Exchange trading is not illegal in the Philippines. There are many forex trading platforms that you can access online. These websites are not banned and is accessible in the country. This means that if you abide by the rules of these Forex trading platforms and 11/2/ · Trading in foreign currency in the Philippines is illegal and violators can face administrative fines, the Securities and Exchange Commission said in an advisory to the public.?The public is hereby advised to STOP engaging in foreign exchange trading and to STOP investing in foreign-registered investment platforms of commodity futures, contracts for difference, indices, binary options and the FOREIGN EXCHANGE TRADING IS ILLEGAL IN THE PHILIPPINES The public is hereby advised to STOP engaging in Foreign Exchange Trading and to STOP investing in foreign-registered investment platforms of commodity futures, contracts for difference, indices, binary options and the like
Is Forex trading legal in the Philippines? - Quora
The public is forex trading philippines illegal advised to STOP engaging in Foreign Exchange Trading and to STOP investing in foreign-registered forex trading philippines illegal platforms of commodity futures, contracts for difference, indices, binary options and the like. Further, the SEC advises the public that persons and entities acting as brokers, salesmen or agents of these securities have NO LICENSE to engage or deal in any manner with these securities and should therefore be AVOIDED or IGNORED….
My name is Mark So and I have been trading the Forex Market online for approximately 15 years already. When this advisory came out, I had a lot of people ask me questions, but a lot more people keeping quiet and slowly move away from Forex trading. I would therefore like to share some more information and clarification on this topic in a simple Q and A Question and Answer format.
Q: But what about the advisory of SEC that Forex trading is illegal in the Philippines, what aspect is considered illegal? A: As the Advisory states, the public should not invest in actual foreign exchange trading.
This would literally mean that you should not open a trading account with any Foreign registered investment platform moving forward. Attending a seminar on understanding what it is all about is not considered illegal. A: The advisory came about because of a lot of complaints from investors who lost money trading forex forex trading philippines illegal to entities acting as brokers, forex trading philippines illegal, salesmen or agents and have forex trading philippines illegal regulatory licenses in the Philippines.
So please beware of entities and personalities that use deceptive advertising and marketing tactics that lure a lot of unsuspecting investors giving them false hopes. Q: Are you concerned that the SEC may pursue a case against you and your education in Forex?
A: NO. My intentions are very clear. My purpose is to educate and protect people in this industry, not to deceive and scam people. In fact, a few days after the SEC advisory came out, I placed a call directly to the Enforcement and Investor Protection Department EIPD at telephone numbers and and talked to the person in charge of pursuing those in violation of this advisory and clarified.
I stated my name and what I do. From my understanding, the priority for the EIPD is to pursue cases where there are complaints of fraudulent activities which have come to their attention. Realistically, forex trading philippines illegal, this is what the SEC can do at this point. Reading between the lines However, if you already have a trading account and have no complaints, there really is nothing the EIPD can and will do, forex trading philippines illegal.
Q: What is your plan as a Forex Trainer in the future? A: I have already volunteered to be a resource person for the SEC to get policies in place to regulate the Forex Market in the Philippines. I have offered my help in several key issues in getting these policies done and from how our conversations are going, they are open to collaborate with me, forex trading philippines illegal.
I do understand the plight of uninformed investors who want to get into the Forex trading space, forex trading philippines illegal. I also have a deep appreciation of what the SEC is trying to do to protect the investment public in general.
Needless to say, I will be doing my very best to help the SEC get Forex Trading and Investing in the Philippines legal and regulated already and STOP those who victimize people in our industry. Money Changers and forex remittance companies, even regular tourists and travelers who want to minimize foreign conversion losses due to fluctuations can also benefit from what I teach.
Furthermore, Understanding currency movements is the foundation that is needed when learning to invest outside of the Philippines, forex trading philippines illegal.
Do you have questions? Leave a comment below and I will try my best to answer them. At first, I have joined a webinar session with Learn to Trade 2 weeks ago, forex trading philippines illegal, the session is very informative, they even mentioned manny pangilinan as one of their member, but after the session they are asking for a training fee 85,php which they mentioned a discounted price from php, for a three days training, but you can only start trading after you fully paid the training fee, they even offered installments for 3 mos to fully pay the fee, with just a deposit of 10k.
At the time I got frustrated because i would have to wait for a whole 3 months before i can trade, so I declined their offer and realized it was just a scam. Then I have found about XM trading, there are good reviews at first but when i researched further online for the reviews, i have found that there are also a lot of complaints about this trading company, can you advise me a legit way to join forex trading.
hi Mark, as of the moment a lot of people are engaging in forex trading that is owned and operated by foreign countries and entities, does it mean that its also elligal for us filipino to use it? Good day Sir. May I ask, forex trading philippines illegal, is it okay to set-up and register Business Permit, DTI, BIR, etc… a business here in the Philippines for doing Forex trading only. Of course, I trade only my own money.
And why would you even need to get a business permit if you are only going to trade your own money? You typically set up a business to get customers. If own money, there is no need.
I am a college student that plans to trade forex with my extra money I am willing to lose. I gathered from your original article that forex trading is illegal in the Philippines and you are doing it through a foreign based broker. As what would you declare it? Taxes are declared manually through ITR through my accountant. Kindly consult your own accountant on how to do it. I hope this thread forex trading philippines illegal still active.
Starting could be P50kk. They pay via paypal. With these amounts, how would you manage such withdrawals and taxation? Not sure where to start. Your email address will forex trading philippines illegal be published. Notify me of follow-up comments by email. Notify me of new posts by email. This site uses Akismet forex trading philippines illegal reduce spam. Learn how your comment data is processed. Proudly powered by WordPress Theme: Stacker by ThemeFurnace.
Home Membership Lifetime Membership Learning Center Login Here My Profile Contact Us Affiliate Marketing Program Get my affiliate link My stats. Forex Club Asia An Educational Community for Live Traders across Asia. January 10, Q: Why did SEC issue this advisory? is forex illegal?
learn forex Mark So and SEC Question and Answer on Forex Trading Being Illegal sec advisory on forex trading What is legal and what is not legal in forex trading in the Philippines? As per SEC, it is illegal, but what they really mean is trade at your own risk. Good Day! Thank you for your feedback. Hey there good sir, I hope this thread is still active. I guess my question is where to start looking for answers. Thank you. Go to the bank as you said and start looking for answers there.
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SEC Advisory Against Forex and CFD in PH - Bawal ba tayo magtrade?
, time: 57:37Forex trading is illegal in PH ? SEC | Bilyonaryo Business News
10/31/ · The short answer is NO. Forex Trading in the Philippines is Illegal due to the increasing number of individuals being scammed by their Broker or by other people who pretend to be a mentor, salesmen, agents, or an account manager. According to Securities and Exchange Commissions or SEC, “FOREIGN EXCHANGE TRADING IS ILLEGAL IN THE PHILIPPINES 11/2/ · Trading in foreign currency in the Philippines is illegal and violators can face administrative fines, the Securities and Exchange Commission said in an advisory to the public.?The public is hereby advised to STOP engaging in foreign exchange trading and to STOP investing in foreign-registered investment platforms of commodity futures, contracts for difference, indices, binary options and the Foreign Exchange trading is not illegal in the Philippines. There are many forex trading platforms that you can access online. These websites are not banned and is accessible in the country. This means that if you abide by the rules of these Forex trading platforms and
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