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so this is how leverage margin works in Bitcoin (forex broker). 1 unit is 100,000 so if you use leverage of 100:1 to short or go long in any crypto you just need Less money to execute the trade but leverage is dangerous
SURVIVING THE WINTERSNOW FOREX SCAM; THE PROBLEM WITH USING AN ACCOUNT MANAGER TO EXECUTE TRADES
I have been pretty unlucky with investment/brokerage companies but the worst of it all was when I created a trading account with Wintersnow Forex and made weekly deposits of $5,000 into the account for 3 months. I tried to directly contact the account manager as well as the finance department in an attempt to withdraw some of the profits I made on the platform but they demanded a tax fee be sent to them first before withdrawal. When I refused to their terms seeing that it all sounded ridiculous, they hung up each time I called and eventually blocked my number from calling them. I also tried to speak with one of the other traders working on my account but he kept saying to call the main line and speak to the finance department. When I ask for him to get finance to call me back he just kept saying they will do today but I waited 2 months before I called the attention of Fintrack. org by submitting a complaint to them in a feat to get my investment back which got me withdrawal access to the principal and profits linked to my account. Whatever you do, don’t invest your money with Wintersnow Forex, they are quick to accept the funds from you but soon as you make that withdrawal request, they work really hard to ensure you never see your money again. Also be careful because they keep changing their names, they initially went by the name Bohua Technology and are probably on the way to creating another false trading platform.
Hello, I have been trading since the start of the pandemic, and I'm now at the point where I get payouts ranging from 400k - 950k php. I've always been told that forex trading is not yet taxable here; but now that I'm earning a hefty sum every month, I wanted to be sure. Do note, these profits are not gains from my own money, but rather a prop firm's. Prop firms are trading companies offering equity to traders who have passed their challenges/tests. Once passed they are given an account (usually demo accounts) and whatever profit the trader makes on that account, they are given a percentage. In my case, I have a 100k usd funded account with a prop firm in which I get paid out biweekly. Should I be doing something about taxes, may kailangan ba gawin para maiwasan ang kung ano mang complications in the future? I have no knowledge whatsoever about taxes and whatnot, all I know is how to trade. Thank you. edit: Took out the prop firm’s name as someone got triggered and called this post a scam advert. It’s not, I really am just looking for tax advice.
I’m trying to invest into forex as an 18 year old to fund for university. I’ve been meaning to move to Canada in fall 2023 from the uk for universities for personal reasons. I have around 330 pounds to begin with. Any tips?
I wonder if anyone here has any prior experience with trading in general because i feel so LONELY and kinda lost (not so lost as i’ve been doing this for almost two years). as you now it’s a long long way, so I thought it might be nice to find people with common interests.
I am just being introduced to the whole “wifi money” side hustle thing and I heard that forex trading is a pretty good side hustle to get rich. So if there are any people can explain forex trading in a simple way that would be appreciated. I am also seeing if dropshipping would be the better way to get rich but if anyone can tell me if dropshipping or forex trading is a better side hustle please let me know 🙏 (Tried to post on explainlikeim5 but it got taken down)
Is Forex trading a scam or do people make money from it?
The reason I'm asking is because I see these posts online daily and I'm curious about it.. obviously don't want to start if it's not a definite means of income. Is it legit? Are people genuinely making the kind of money they claim to in these videos?
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