Do you still need a license to trade forex using your own funds, in Dubai?
Title says it all. Is this still a thing? What if your broker is abroad? Or if you’re trading with a Prop Firm? Are you then considered a freelancer, so you’d need a freelance permit? I’m already in Dubai on a spouse visa, so that’s covered. Just making sure I’m not stepping in something sticky when I want to pursue trading forex seriously. Anyone know what a permit/ license will cost? Thanks everyone! ETA: thanks for the replies. Maybe I should’ve added that I have been trading successfully with a prop firm and that’s how I used to make money back home. However now in Dubai, I figured I would get my profits taxfree (not cap gains) so I can still do the profit split thing with the prop firm, but now also use my own funds and link the accounts (so I only have to execute once, master and slave acct etc) but keep all the profits.
Just knew about forex funding yesterday from a reddit user , i took my time reading and comparing FTMO , MYFOREXFUNDS and The5ers , i liked the my forex funds options more than the others ..... but still need to know an experienced opinion about this ? Any information will be appreciated.
Have you been scammed through one of the following: Bitcoin investment Scam|| Mining Scam || ICO Scam || Binary Options Scam|| Romance scam || Forex Trading scam || how to recover all your lost funds
Get in touch with a private investigator or law enforcement. A potential investigator would have to identify the wallet, connect fraudsters’ wallets and connect transactions to dedicated platforms and reach out to their compliance or fraud teams. Once such wallet address is being reported to these platforms, whenever a user would like to cash-out, they can easily block the transaction and freeze the funds. With help of law enforcement such frozen funds can be transferred back to the rightful owner.
Why do so many malaysians believe TriumphFX / TFXI forex funds can make 10%+ every cycle? Is it greed, trust of direct marketing friend or ignorance? This is a SCAM
Sales people: Forex funds are illegal in Malaysia. But if you have spare cash, you should think about Yuri / EOB /Takami fund because they make 10%+ every cycle. It is really legitimate because so many people are in it. I make US$5k per month from this as a side hustle. Don't even need to work hard. Reality: Sales person may be makes US$2.5k per month or less, as their business involves selling a dream. Your money doesn't go to Cyprus or Seychelles. It goes to random investors who choose to take out their "profits" and extras go to central scam pool in Malaysia. That's why you are discouraged to put in money directly to the platform. You should read tfxiblog.wordpress.com to learn more why this is a scam. Stay away. https://www.youtube.com/watch?v=YPSAR-S03Do
Have you been scammed through one of the following: Bitcoin investment Scam|| Mining Scam || ICO Scam || Binary Options Scam|| Romance scam || Forex Trading scam || how to recover all your lost funds
Get in touch with a private investigator or law enforcement. A potential investigator would have to identify the wallet, connect fraudsters’ wallets and connect transactions to dedicated platforms and reach out to their compliance or fraud teams. Once such wallet address is being reported to these platforms, whenever a user would like to cash-out, they can easily block the transaction and freeze the funds. With help of law enforcement such frozen funds can be transferred back to the rightful owner.
Have you been scammed through one of the following: Bitcoin investment Scam|| Mining Scam || ICO Scam || Binary Options Scam|| Romance scam || Forex Trading scam || how to recover all your lost funds
Get in touch with a private investigator or law enforcement. A potential investigator would have to identify the wallet, connect fraudsters’ wallets and connect transactions to dedicated platforms and reach out to their compliance or fraud teams. Once such wallet address is being reported to these platforms, whenever a user would like to cash-out, they can easily block the transaction and freeze the funds. With help of law enforcement such frozen funds can be transferred back to the rightful owner.
Have you been scammed through one of the following: Bitcoin investment Scam|| Mining Scam || ICO Scam || Binary Options Scam|| Romance scam || Forex Trading scam || how to recover all your lost funds
Get in touch with a private investigator or law enforcement. A potential investigator would have to identify the wallet, connect fraudsters’ wallets and connect transactions to dedicated platforms and reach out to their compliance or fraud teams. Once such wallet address is being reported to these platforms, whenever a user would like to cash-out, they can easily block the transaction and freeze the funds. With help of law enforcement such frozen funds can be transferred back to the rightful owner.
Is forex trading in a funded account of proprietary trading firms permitted as per FEMA and other RBI regulations?
Many proprietary forex trading platforms like FTMO are included in the Alert List Published by RBI. Alert List contains names of entities which are neither authorised to deal in forex under the Foreign Exchange Management Act, 1999 (FEMA) nor authorised to operate electronic trading platform (ETP) for forex transactions under the Electronic Trading Platforms (Reserve Bank) Directions, 2018. This list is not exhaustive and is based on what was known to RBI at the time of publication. However in the case were a trader trades in a FUNDED account, will the trades made by him in the funded account be deemed to be services provided by an employee/contractor, and the share of profit received by him deemed to be in the nature of salary/commission/consultancy fee? Would the trades taken by the trader on behalf of the firm be non-permissible/illegal (trading in FCY-FCY contracts illegal?) under FEMA and other RBI regulations? Throw some light on the taxability of share of profit received by the resident trader.
Why Does Forex trading site want me to fund using Bitcoin?
Hey, does anyone here have experience having to fund their trading account with bitcoin? I met someone on Instagram. Has an account with more than 11k followers. Seemed like a legit. Person. The type that does the I will teach you how to trade, or trade for you and keep 40% of the gains. So I said ok. I wanted to give it a try. Feel like I'm window shopping and passing by all these opportunities to learn new things just because of my bias filter that says "scam" each time I hear Bit coin or something new... Usually my gut feeling and how these people come across tells me no.. but this time I was like "yes" let me try and find out. So, the guy asks "how much would you like to start with". I say "I'd like to fund 100, and 50-100 continuously every month." And the guy said "ok". Then he sends me this link (I won't share it) not sure if it violates group policies or comes across as promoting. Anyway. I get the link and go to the website to sign up. Then to veryfimyself it asked me to upload my drivers license or ID etc. And that it would take up to 3 days to verify. In the mean time he (my account manager) tells me to fund using Bitcoin because apparently its faster. Is that true? Is it a thing now to fund trading accounts even those that trade stocks and forex with bitcoin? Please don't just reply and say "scam." Please give me a rational opinion or an experienced based answer. Trying to figure out if I should proceed or not. Thank you.
Beware of these forex/crypto trading platforms that people have recently complained about not being able to withdraw their funds. Avoid other risky trading brokers that are associated with them！
When you complete phase 1 and phase 2 and get alive account what happened if in your first month balance is negative i mean you don't break anly rules but you are not in profit. I know you don't get a refund but do you also lose a account?
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