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Capital.com Review UK
Founded in 2016, Capital.com may be one of the newcomers to the market but they have made up ground quickly with a staggering number of assets pulling them ahead of most of the competition in terms of instruments offered. It is little wonder that they already have more than 2 million registered users on their platform.To get more news about capital.com review, you can visit wikifx.com official website.
For people who are new to trading, this is the perfect option. Capital.com really have demonstrated a commitment to education with their educational app, Investmate which I have gone into in more detail below. They have also made the platform accessible with a low minimum deposit of only $20.
There is plenty to like about this platform if you’re interested in CFDs however, whilst they do have all the educational material you could ask for, 75.26% of retail investor accounts lose money when trading spread bets and/or CFDs with this provider.
Therefore, it’s important to appreciate that spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
That being said, if you did want to try your hand at CFDs, and wanted to take a turn around the platform without any of the associated risks, then I would recommend you give their demo account a try.
Share CFDs
There are more than 5000 share CFDs to trade from markets across the globe with up to 5:1 leverage. You can get started with as little as $100 to control a position of $500. Shares CFDs provide 24/5 trading opportunities in a rising and falling market where you can use Capital.com’s tools to define stops and limits in order to close your position at a predetermined price. There is also the option to set up price alerts, informing you of any significant movements.
Indices CFDs
Access a wide range of 27 indices from across the globe with up to 20:1 leverage. Get started with as little as $100 to control a position of $2,000. Indices CFDs provide 24/5 trading opportunities as well as the option to define stops and limits to ensure positions close at a pre-determined price. In addition, there are price alerts to let you know of any major changes in value.
Commodities CFDs
Capital.com has 29 hard and soft commodities currently available and the list is constantly growing. Leverage is up to 10:1 allowing traders to start with just $100 in order to control a position of $1000. This asset class also allows for stops and limits in order to close positions at a predetermined price as well as price alerts.
Forex CFDs
There are 138 of the world’s most popular currency pairs available at Capital.com with the added bonus of Capital.com’s economic calendar which allows traders to stay abreast of the major economic announcements. Leverage on currency pairs is up to 30:1 and traders are able to define stops and limits as well as set up price alerts when forex trading.
The absence of currency conversion fees at Capital.com allows traders to select the base currency in the market that they intend to trade and the addition of a multicurrency bank account would support this in its entirety, potentially saving traders a significant amount in fees.
There are 5 base currencies to choose from which include GBP, USD, EUR, PLN and AUD.
You can deposit money using bank transfer, credit/debit card, Apple Pay and Paypal. It’s worth noting that bank transfers take 3 working days to process, however, electronic wallets and credit/debit cards are instant.
Both deposits and withdrawals are completely free at Capital.com with the option to withdraw to any of the deposit methods listed above. Upon testing the platform, I found withdrawal times to be quick (in my case one business day).
There is plenty to like about this platform if you’re interested in CFDs however, whilst they do have all the educational material you could ask for, 75.26% of retail investor accounts lose money when trading spread bets and/or CFDs with this provider.
Therefore, it’s important to appreciate that spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
That being said, if you did want to try your hand at CFDs, and wanted to take a turn around the platform without any of the associated risks, then I would recommend you give their demo account a try.
Share CFDs
There are more than 5000 share CFDs to trade from markets across the globe with up to 5:1 leverage. You can get started with as little as $100 to control a position of $500. Shares CFDs provide 24/5 trading opportunities in a rising and falling market where you can use Capital.com’s tools to define stops and limits in order to close your position at a predetermined price. There is also the option to set up price alerts, informing you of any significant movements.
Indices CFDs
Access a wide range of 27 indices from across the globe with up to 20:1 leverage. Get started with as little as $100 to control a position of $2,000. Indices CFDs provide 24/5 trading opportunities as well as the option to define stops and limits to ensure positions close at a pre-determined price. In addition, there are price alerts to let you know of any major changes in value.
Commodities CFDs
Capital.com has 29 hard and soft commodities currently available and the list is constantly growing. Leverage is up to 10:1 allowing traders to start with just $100 in order to control a position of $1000. This asset class also allows for stops and limits in order to close positions at a predetermined price as well as price alerts.
Forex CFDs
There are 138 of the world’s most popular currency pairs available at Capital.com with the added bonus of Capital.com’s economic calendar which allows traders to stay abreast of the major economic announcements. Leverage on currency pairs is up to 30:1 and traders are able to define stops and limits as well as set up price alerts when forex trading.
The absence of currency conversion fees at Capital.com allows traders to select the base currency in the market that they intend to trade and the addition of a multicurrency bank account would support this in its entirety, potentially saving traders a significant amount in fees.
There are 5 base currencies to choose from which include GBP, USD, EUR, PLN and AUD.
You can deposit money using bank transfer, credit/debit card, Apple Pay and Paypal. It’s worth noting that bank transfers take 3 working days to process, however, electronic wallets and credit/debit cards are instant.
Both deposits and withdrawals are completely free at Capital.com with the option to withdraw to any of the deposit methods listed above. Upon testing the platform, I found withdrawal times to be quick (in my case one business day).
LegoMarket Review: Unregulated Broker to Avoid!
LegoMarket is a forex broker that targets to generate massive returns to investors. However, our main concern is if the company is transparent in its methods of operation.To get more news about lego market llc review, you can visit wikifx.com official website.
Therefore as you read this review further, you might change your decision whether or not you should invest. The platform offers spreads from 0.1, and the minimum trade amount is $10. Customers get a chance to trade on multiple devices provided you have internet connections. You can access similar services through your mobile phone or via your computer.
Trades can also be made through MT4, which is suitable for use and recommendable. Moreover, traders also get a chance to trade over 1000 trade instruments. The platform is offering forex trading, CFDs, Stocks, Metals, and Commodities. There is not much info available on the trading style and algorithm in use.
Legomarket.co Review
Legomarket. co was registered anonymously and had been operating the same way since its launch. They also seem to have a hidden motive and are mainly focused on the customers’ funds.
Platforms that show a similar style of operation as LegoMarket turn out to be scammers. The result will only yield losses when you fall for their catch. LegoMarket allegedly suites all types of traders, and you can trade huge volumes. The firm does not have any positive feedback that would we would use to recommend any of their services.
The company is even considered a shady broker and one that would easily rob all your funds. Therefore once you deposit funds with legomarket.co, your details may get blocked from accessing any of their services. Ponzi schemes will try their best to lure you into depositing funds. Through phone calls or sometimes impossible to attain figures or promises.
Legomarket.co-team may not even have any forex trading experience, and they are not even licensed. Most investors familiar with forex trading will, at first glance, recognize the red flags that this investment firm exposes.
How Lego market Operates
The company is more likely to take advantage of inexperienced traders. Hence it is always important to do thorough research on any platform before depositing a single coin.
Traders also acquire fast transactions, and that losses are never more than the available account balance. LegoMarket forex software includes a charting package and even more than 30 indicators.
The technical indicators help you while making trade decisions. Automated trading is greatly recommendable over humans because of the inability to hold emotions.
Moreover, relying on the wrong trading tools will only cause more damage to your funds’ account. You will only be making the fraudulent founders and team rich while expecting to gain massive profits.
The android software lets you connect with several brokers and trade the various markets from your phone. Trading just like any other business may have some profiting days and vice versa.
Nevertheless, you can also minimize the risks you incur by using licensed forex brokers. That uses legit methods of lowering risks and will generate reasonable returns on your investment funds.
LegoMarket has a very low score rating, and they also do not have any past trade data that you can rely on. You should easily find past trade history for some time, at least three months, and info you can verify.
LegoMarket Funds Safety
LegoMarket fails to reveal any details of the founders or registration. Therefore you risk trusting criminals with your hard-earned funds.
Despite the claims of fast transactions, no customer is seen to withdraw funds from the investment firm successfully. There is also no past trade history and no trading strategy or risk measures that have been made known to traders.
You would not risk a single coin on any investment firm that you are not aware of the operation style. Legomarket.co has no banking details or founders’ location whereabouts.
This type of data is very helpful because it can help if you require any assistance or refund. They also do not feature any refund policy or a demo account, and this is a major red flag.
You should invest only with companies that show a high level of transparency. LegoMarket selling strategy is poorly organized.
There is a lot of data that has been left out, and this should only serve as a warning to avoid the company at all costs. Besides, the company has a bad reputation worldwide, and you would not risk your funds with a shady platform.
Trades can also be made through MT4, which is suitable for use and recommendable. Moreover, traders also get a chance to trade over 1000 trade instruments. The platform is offering forex trading, CFDs, Stocks, Metals, and Commodities. There is not much info available on the trading style and algorithm in use.
Legomarket.co Review
Legomarket. co was registered anonymously and had been operating the same way since its launch. They also seem to have a hidden motive and are mainly focused on the customers’ funds.
Platforms that show a similar style of operation as LegoMarket turn out to be scammers. The result will only yield losses when you fall for their catch. LegoMarket allegedly suites all types of traders, and you can trade huge volumes. The firm does not have any positive feedback that would we would use to recommend any of their services.
The company is even considered a shady broker and one that would easily rob all your funds. Therefore once you deposit funds with legomarket.co, your details may get blocked from accessing any of their services. Ponzi schemes will try their best to lure you into depositing funds. Through phone calls or sometimes impossible to attain figures or promises.
Legomarket.co-team may not even have any forex trading experience, and they are not even licensed. Most investors familiar with forex trading will, at first glance, recognize the red flags that this investment firm exposes.
How Lego market Operates
The company is more likely to take advantage of inexperienced traders. Hence it is always important to do thorough research on any platform before depositing a single coin.
Traders also acquire fast transactions, and that losses are never more than the available account balance. LegoMarket forex software includes a charting package and even more than 30 indicators.
The technical indicators help you while making trade decisions. Automated trading is greatly recommendable over humans because of the inability to hold emotions.
Moreover, relying on the wrong trading tools will only cause more damage to your funds’ account. You will only be making the fraudulent founders and team rich while expecting to gain massive profits.
The android software lets you connect with several brokers and trade the various markets from your phone. Trading just like any other business may have some profiting days and vice versa.
Nevertheless, you can also minimize the risks you incur by using licensed forex brokers. That uses legit methods of lowering risks and will generate reasonable returns on your investment funds.
LegoMarket has a very low score rating, and they also do not have any past trade data that you can rely on. You should easily find past trade history for some time, at least three months, and info you can verify.
LegoMarket Funds Safety
LegoMarket fails to reveal any details of the founders or registration. Therefore you risk trusting criminals with your hard-earned funds.
Despite the claims of fast transactions, no customer is seen to withdraw funds from the investment firm successfully. There is also no past trade history and no trading strategy or risk measures that have been made known to traders.
You would not risk a single coin on any investment firm that you are not aware of the operation style. Legomarket.co has no banking details or founders’ location whereabouts.
This type of data is very helpful because it can help if you require any assistance or refund. They also do not feature any refund policy or a demo account, and this is a major red flag.
You should invest only with companies that show a high level of transparency. LegoMarket selling strategy is poorly organized.
There is a lot of data that has been left out, and this should only serve as a warning to avoid the company at all costs. Besides, the company has a bad reputation worldwide, and you would not risk your funds with a shady platform.
Scammed By MFM Securities?
The first step to protecting yourself from fraudulent parties online is to do thorough due diligence on the companies and entities that you are planning to send the funds to. In all probability, there have been other users who have already used the same service, and have expressed their opinions and feedback online on various forums.To get more news about mfm securities review, you can visit wikifx.com official website.
After conducting some research on various social media platforms (Facebook, Twitter, Instagram), as well as online trading forums, a general theme emerged where users were dissatisfied with their experience with MFM Securities. Based on this user feedback, it appears that MFM Securities is not a trustworthy broker, and hence, extreme caution should be applied before investing through their brokerage platform.
There are a lot of brokers out there operating under fake company names or that have other fraudulent operations. A little bit of preliminary research can go a long way in protecting you and your finances.
Is MFM Securities Legit or a Scam?
When searching for brokers to conduct your trading activities with, the first and most important step should always be to learn about their certification(s). This will tell you whether they are regulated by a central authority or if MFM Securities is an offshore and/or unregulated entity.
When a broker is unregulated or regulated by an entity outside of your jurisdiction, you have limited to no legal recourse in the event that your funds are compromised. In an event of theft, complaints can only be made if that broker is licensed by the regulator in your jurisdiction. Some examples of regulatory authorities that issue brokerage licenses are:
If a broker is not licensed by the regulatory authority in your jurisdiction, that likely means that they are unregulated and should be avoided. Even if the brokerage is regulated, it is best to avoid it if the regulator happens to be outside your jurisdiction.
How Online Trading Scams Work?
One of the most prevalent online trading scams is to initially display profitable trades that give the investor a false sense of confidence, and get them hooked to the idea of ‘easy money’. Once this confidence is established, the investor will be marketed the idea of investing more money to earn greater returns. Additionally, other incentives may also be provided to encourage the investor to get their friends and family onboard the platform too.
Once the brokerage believes that they have extracted all available funds from an investor and his/her network, they will then proceed to suspend the account, and the investor will no longer be able to access the funds put in.
Many fraudulent firms will even claim to be domiciled in a regulated jurisdiction, and display fake regulatory licenses and addresses on their websites to try and improve their credibility with unsuspecting investors.
Be careful and verify your information through multiple sources. Constant vigilance should be applied at all times when sending money online.
There are a lot of brokers out there operating under fake company names or that have other fraudulent operations. A little bit of preliminary research can go a long way in protecting you and your finances.
Is MFM Securities Legit or a Scam?
When searching for brokers to conduct your trading activities with, the first and most important step should always be to learn about their certification(s). This will tell you whether they are regulated by a central authority or if MFM Securities is an offshore and/or unregulated entity.
When a broker is unregulated or regulated by an entity outside of your jurisdiction, you have limited to no legal recourse in the event that your funds are compromised. In an event of theft, complaints can only be made if that broker is licensed by the regulator in your jurisdiction. Some examples of regulatory authorities that issue brokerage licenses are:
If a broker is not licensed by the regulatory authority in your jurisdiction, that likely means that they are unregulated and should be avoided. Even if the brokerage is regulated, it is best to avoid it if the regulator happens to be outside your jurisdiction.
How Online Trading Scams Work?
One of the most prevalent online trading scams is to initially display profitable trades that give the investor a false sense of confidence, and get them hooked to the idea of ‘easy money’. Once this confidence is established, the investor will be marketed the idea of investing more money to earn greater returns. Additionally, other incentives may also be provided to encourage the investor to get their friends and family onboard the platform too.
Once the brokerage believes that they have extracted all available funds from an investor and his/her network, they will then proceed to suspend the account, and the investor will no longer be able to access the funds put in.
Many fraudulent firms will even claim to be domiciled in a regulated jurisdiction, and display fake regulatory licenses and addresses on their websites to try and improve their credibility with unsuspecting investors.
Be careful and verify your information through multiple sources. Constant vigilance should be applied at all times when sending money online.
Best Forex Brokers Philippines for 2023
Trading forex (currencies) in the Philippines is popular among residents. While recommended, forex brokers are not required to become authorised by the Securities and Exchange Commission (SEC) to accept residents of the Philippines as customers.To get more news about xau merlion review, you can visit wikifx.com official website.
To find the best forex brokers in the Philippines, we created a list of all brokers that list the Philippines as a country they accept new customers from. We then ranked brokers by their Overall ranking.
Compare Philippines authorised forex and CFDs brokers side by side using the forex broker comparison tool or the summary table below. This broker list is sorted by the firm's ForexBrokers.com Overall ranking.
The Securities and Exchange Commission (SEC) Philippines is the principal regulator for the financial markets in the republic of the Philippines. The SEC Philippines oversees local capital markets, including broker-dealers, investment companies, lending and financing firms, financial institutions, and other licensed intermediaries. There are over 351,000 stock corporations, as per the SEC’s latest annual report. While forex and CFD trading is not regulated in the Philippines, the SEC regulates the following types of entities:
How to Verify SEC Authorisation
Unfortunately, there is not a list of authorized forex brokers, however, residents can currently view a list of registered firms on the SEC website, or contact an office to verify the authorisation of a broker.
Is forex trading legal in the Philippines?
The exchange of local currency is regulated under Circular Number 1389 and applicable to authorized agent banks (AAG), but retail forex trading is not legal in the Philippines nor are any local brokers licensed to offer forex and CFDs, according to the local financial market’s regulator (the SEC Philippines). The SEC Philippines has repeatedly advised the public to stop engaging in foreign exchange trading and warned against trading CFDs and other off-exchange derivatives offered by international brokers.
This highly conservative stance against forex is representative of the government's long-standing view that margin-based derivatives such as forex and CFDs are not suitable investments, and is meant to protect local residents from losing money to scam brokers. In a 1993 case brought to the Supreme Court of the Philippines, Onapal vs. Court of Appeals, the court ruled that commodity futures contracts (including forex and CFDs) are considered to be “purely gambling and declared null and void by law.” This ruling is referenced in an SEC Advisory, dated November 2013, and the SEC’s latest advisory regarding the illegality of forex in the Philippines was in October 2018.
Do forex traders pay tax in the Philippines?
Yes, citizens and residents of the Philippines must declare all of their worldwide income, including income from any forex brokerage accounts with international brokers. If you are not a resident or citizen of the Philippines, your countries of residence and/or citizenship will have their own tax obligations.
The Bureau of Internal Revenue of the Philippines further states that in the event of double taxation from other countries and/or potential tax treaties, residents are still obliged to report all foreign-sourced income to the Philippines government. In cases where there are tax treaties, residents can apply for a Tax Residency Certificate using their Tax Identification Number (TIN).
Note: If you are a resident or national citizen of the Philippines, be sure to contact a local tax accountant to learn how the local tax laws apply to you.
How can I start forex trading in the Philippines?
As a resident or citizen of the Philippines, your options for forex trading are limited. There are currently no SEC-regulated brokers that offer forex trading in the Philippines (and the SEC Philippines advises its citizens against forex trading). That said, should you decide to open an account with an international broker to trade forex, it is best to choose one that is highly trusted and well-regulated to reduce your risk of becoming the victim of a potential scam. From among the most trusted brokers that accept clients in the Philippines, you can open a live account with the following brokers to start trading forex:
The Securities and Exchange Commission (SEC) Philippines is the principal regulator for the financial markets in the republic of the Philippines. The SEC Philippines oversees local capital markets, including broker-dealers, investment companies, lending and financing firms, financial institutions, and other licensed intermediaries. There are over 351,000 stock corporations, as per the SEC’s latest annual report. While forex and CFD trading is not regulated in the Philippines, the SEC regulates the following types of entities:
How to Verify SEC Authorisation
Unfortunately, there is not a list of authorized forex brokers, however, residents can currently view a list of registered firms on the SEC website, or contact an office to verify the authorisation of a broker.
Is forex trading legal in the Philippines?
The exchange of local currency is regulated under Circular Number 1389 and applicable to authorized agent banks (AAG), but retail forex trading is not legal in the Philippines nor are any local brokers licensed to offer forex and CFDs, according to the local financial market’s regulator (the SEC Philippines). The SEC Philippines has repeatedly advised the public to stop engaging in foreign exchange trading and warned against trading CFDs and other off-exchange derivatives offered by international brokers.
This highly conservative stance against forex is representative of the government's long-standing view that margin-based derivatives such as forex and CFDs are not suitable investments, and is meant to protect local residents from losing money to scam brokers. In a 1993 case brought to the Supreme Court of the Philippines, Onapal vs. Court of Appeals, the court ruled that commodity futures contracts (including forex and CFDs) are considered to be “purely gambling and declared null and void by law.” This ruling is referenced in an SEC Advisory, dated November 2013, and the SEC’s latest advisory regarding the illegality of forex in the Philippines was in October 2018.
Do forex traders pay tax in the Philippines?
Yes, citizens and residents of the Philippines must declare all of their worldwide income, including income from any forex brokerage accounts with international brokers. If you are not a resident or citizen of the Philippines, your countries of residence and/or citizenship will have their own tax obligations.
The Bureau of Internal Revenue of the Philippines further states that in the event of double taxation from other countries and/or potential tax treaties, residents are still obliged to report all foreign-sourced income to the Philippines government. In cases where there are tax treaties, residents can apply for a Tax Residency Certificate using their Tax Identification Number (TIN).
Note: If you are a resident or national citizen of the Philippines, be sure to contact a local tax accountant to learn how the local tax laws apply to you.
How can I start forex trading in the Philippines?
As a resident or citizen of the Philippines, your options for forex trading are limited. There are currently no SEC-regulated brokers that offer forex trading in the Philippines (and the SEC Philippines advises its citizens against forex trading). That said, should you decide to open an account with an international broker to trade forex, it is best to choose one that is highly trusted and well-regulated to reduce your risk of becoming the victim of a potential scam. From among the most trusted brokers that accept clients in the Philippines, you can open a live account with the following brokers to start trading forex: