Where is FX Trading prohibited? | Forex Factory

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Where is FX Trading prohibited?

  • #1
  • First Post: Mar 17, 2012 6:20pm Mar 17, 2012 6:20pm
Hi Fellas.

I heared that forex trading is severely prohibited or restricted in some countries like China but I don't have a clue about them....do you know anything about it ?

Thanks in advance,

MrJinks.
  • #2
  • Mar 17, 2012 9:42pm Mar 17, 2012 9:42pm
Quoting mrjinks
Hi Fellas.

I heared that forex trading is severely prohibited or restricted in some countries like China but I don't have a clue about them....do you know anything about it ?

Thanks in advance,

MrJinks.
From what i know Forex trading isn't prohibited in China, but there are some restrictions with foreign companies sending funds to a personal bank account.

There are also limits on how much foreign currency a person can transfer overseas in a year.

scfx
The best indicator is price.
  • #3
  • Mar 17, 2012 10:04pm Mar 17, 2012 10:04pm
My wife said that ForEx trading is also prohibited in the bedroom.
Time turns trend. - W.D. Gann
  • #4
  • Mar 20, 2012 6:58am Mar 20, 2012 6:58am
Quoting scfx
From what i know Forex trading isn't prohibited in China, but there are some restrictions with foreign companies sending funds to a personal bank account.

There are also limits on how much foreign currency a person can transfer overseas in a year.

scfx
I think you are right.... Sometime restriction may arrest the forex but not prohibited fully!
  • #5
  • Mar 20, 2012 7:37am Mar 20, 2012 7:37am
ive been a head of sales for the last 4 years in many market makers, countries are

Saudi Arabia
Iran
Pakisatan
China (Deposits and withdrawals to fx companies are not allowed)
Korea (Deposits and withdrawals to fx companies are not allowed)
  • #6
  • Mar 21, 2012 4:41am Mar 21, 2012 4:41am
Add India to above list,,
Here in India FX is prohibited..But ofcoz, one can trade pairs with National Currency (Indian Rupee= INR) like USD/INR etc...
If it was easy, everyone would do it.
  • #7
  • Mar 21, 2012 5:23am Mar 21, 2012 5:23am
Forex trading Banned Country List:

British Columbia (Canada)
Quebec (Canada)
South Korea

Belarus
Cuba
Ivory Coast
Iran
Liberia
Myanmar
North Korea
Sudan
Syria
Zimbabwe

Source: http://forexforums.dailyfx.com/openi...st-others.html
  • #8
  • Mar 22, 2012 1:54am Mar 22, 2012 1:54am
Quoting Tarusmark27
Forex trading Banned Country List:

British Columbia (Canada)
Quebec (Canada)
South Korea

Belarus
Cuba
Ivory Coast
Iran
Liberia
Myanmar
North Korea
Sudan
Syria
Zimbabwe

Source: http://forexforums.dailyfx.com/openi...st-others.html
The list is looking good to know the forex trade prohibited list.... Somebody said, it has been prohibited in some other countries as well. What do you think on this issue?
  • #9
  • Mar 22, 2012 2:47am Mar 22, 2012 2:47am
Quoting ForExtraPips
My wife said that ForEx trading is also prohibited in the bedroom.
  • #10
  • Mar 22, 2012 4:08am Mar 22, 2012 4:08am
Hi, guys, every countries has their unique personality, however, in here, there is just general answers, so you should ask the expertise that is more appropriate.
  • #11
  • Mar 22, 2012 4:20am Mar 22, 2012 4:20am
Quoting Ernestjeck
The list is looking good to know the forex trade prohibited list.... Somebody said, it has been prohibited in some other countries as well. What do you think on this issue?
I am not familiar with the countries beyond shared in the list. Each country is free to ban forex trading in it. I do not want to put my views on this.
  • #12
  • Mar 22, 2012 6:41am Mar 22, 2012 6:41am
Quoting Tarusmark27
I am not familiar with the countries beyond shared in the list. Each country is free to ban forex trading in it. I do not want to put my views on this.
Ok fine... Its all individual thought. Do you know the reasons to ban forex? If you know, just convey...
  • #13
  • Mar 23, 2012 5:48am Mar 23, 2012 5:48am
Quoting Ernestjeck
Ok fine... Its all individual thought. Do you know the reasons to ban forex? If you know, just convey...
Forex trading is compare with Gambling, it may be one reason. Besides it, forex trading is related with demand and supply of currency in a country. So, it may be another reason.
  • #14
  • Mar 23, 2012 10:53am Mar 23, 2012 10:53am
Malaysia also prohibited currency trading for public
but for commercial banks & licensed financial institution good to go
  • #15
  • Mar 24, 2012 1:36am Mar 24, 2012 1:36am
Quoting Tarusmark27
Forex trading is compare with Gambling, it may be one reason. Besides it, forex trading is related with demand and supply of currency in a country. So, it may be another reason.
Yeah it may be the reason to be prohibited the forex trade. But, i don't think the forex as gambling...
  • #16
  • Mar 24, 2012 2:26am Mar 24, 2012 2:26am
Quoting santoshdts
Add India to above list,,
Here in India FX is prohibited..But ofcoz, one can trade pairs with National Currency (Indian Rupee= INR) like USD/INR etc...
then how do Indian traders manage to trade forex? i am sure there are many indian traders.
There is no substitute of hard work and experience. $ € £ ¥
  • #17
  • Mar 24, 2012 10:06am Mar 24, 2012 10:06am
Quoting Tarusmark27
Forex trading Banned Country List:

British Columbia (Canada)
Quebec (Canada)
South Korea

Belarus
Cuba
Ivory Coast
Iran
Liberia
Myanmar
North Korea
Sudan
Syria
Zimbabwe

Source: http://forexforums.dailyfx.com/openi...st-others.html


The two Canadian places on that list do not prohibit their residents from trading FX.

FXCM (the source of your link) simply doesn't want to confirm to the local regulators there and setup an office just to cater to the small client base. It's not worth it for them from a cost perspective.
FXGears.com
  • #18
  • Mar 25, 2012 3:29pm Mar 25, 2012 3:29pm
I didn't see it mentioned, but the United States has also become stricter over trading restrictions regarding forex in recent years.
  • #19
  • Mar 27, 2012 12:52pm Mar 27, 2012 12:52pm
Quoting ProperJob
I didn't see it mentioned, but the United States has also become stricter over trading restrictions regarding forex in recent years.
ProperJob, the US used to be a nice place for traders to look for brokers, but now it seems they are trying to "force" people to stop trading FX there...50:1 leverage limit, Dodd-Frank Act, Volcker Rule, just to name some...

In my opinion, the UK, Australia and Switzerland still remain as some of the fewer "good" places to trade Forex with....Is it just me?

Regards,
MrJinks.
  • #20
  • Mar 27, 2012 1:51pm Mar 27, 2012 1:51pm
Have someone forgotten good old Malaysia?
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