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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. Further, the SEC advises the public that persons and entities acting as brokers, salesmen or agents of forex club asia review securities have NO LICENSE to engage or deal in forex club asia review manner with these securities and should therefore be AVOIDED or IGNORED….
My name is Mark So and I have been trading the Forex Forex club asia review online for forex club asia review 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 due to entities acting as brokers, salesmen or agents and have no 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 forex club asia review. In fact, a few days after the SEC advisory came out, forex club asia review, 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, forex club asia review. From my understanding, forex club asia review, the priority for the EIPD is to pursue cases where forex club asia review are complaints of fraudulent activities which have come to their attention. Realistically, 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.
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. I do understand the plight of uninformed investors who want to get into the Forex trading space. 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, forex club asia review. 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.
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, 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, forex club asia review, 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 forex club asia review 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, 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 is still active, forex club asia review.
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 not be published.
Notify me of follow-up comments by email. Notify me of new posts by email. This site uses Akismet to 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 forex club asia review trade at your own risk. Good Day! Thank you for your feedback.
Hey there good sir, I forex club asia review 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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Visit Forex Club. Rankings At A Glance. 3rd of 10 in Saint Vincent and the Grenadines Sites. 2nd of 20 in Non-English forex. 20th of in MetaQuotes Software Corp. Sites. th of in Online Gaming Sites. Supported Languages /7/30 · Welcome To A Whole New Way Of Trading The Forex Market Continue using Mark So’s Unlitrader now for only P / Day* Considering that 1 Unlitrade produces anywhere from P5, or more in 24 hours, this is an Awesome deal! (*30 days in a month LiteForex Philippines, Caloocan, Philippines. 1, likes · 21 talking about this. 1) Make the Forex market accessible for everyone; 2) Invite the best
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