2019: Forex Trading In The Philippines — What Is LEGAL ...

Is Forex Trading legal in the Philippines?

Okay so i really wanted to get into Forex Trading but the problem is that I saw a SEC advisory that announced that Forex Trading is illegal. However, there are foreign brokers from outside the country that are regulated and approved by the BSP. This lead me to believe that the SEC only released this statement because a lot of people were scammed by fake brokers and companies. Furthermore, there is still a lot of Forex Traders in the Philippines and there hasnt been an incident of a day trader being arrested. I really wanted to get into Forex Trading but im scared that i might be imprisoned.
submitted by Groundbreaking_Tie76 to phinvest [link] [comments]

Is Forex Trading legal in the Philippines?

Okay so i really wanted to get into Forex Trading but the problem is that I saw a SEC advisory that announced that Forex Trading is illegal. However, there are online brokers from outside the country that are regulated and approved by the BSP. This lead me to believe that the SEC only released this statement because a lot of people are scammed by fake brokers and companies. Furthermore, there are still a lot of Forex Traders in the Philippines and there hasnt been an incident of a day trader being arrested. I really wanted to get into Forex Day Trading but im scared that i might be imprisoned.
submitted by Groundbreaking_Tie76 to LawStudentsPH [link] [comments]

Don't get [FOREX] scammed! (Long post but worth the warning)

I bet Im not the only one who sees ads like this on Facebook.
LearnToTrade claims to be a Forex coaching company that was going to make you so rich, you'd throw your paperwork on your boss's face and buy a yacht next month. I was impressed as the venue for the free seminar was at a swanky building in BGC (sa ibabaw ng Lamborghini lol). One day, I saw one of their ads and because I had time to spare, I dragged my girlfriend along to check it out since we live around the area.
During the two-hour ordeal, all the speaker did was:
1) Put Greg Secker (their founder) on a pedestal of flowers. The guy appeared on a video which served as his "speech" and appeared to be messianic as fuck. There was something about the guy and the way he was reverred that was so unsettling. (More about him later)
2) Exaggerate on how genius traders their students turned out to be. (A 13yo is now trading millions monthly and lawyers quit being lawyers because they apparently realized they started earning more from trading because of what they learned from LearnToTrade)
3) Badmouth other trading companies. I couldn't keep track with how many times she lambasted COLfinancial (not even a Forex competitor) for ripping off arms and legs with their "ridiculous commissions". She asked if anybody in the room uses COLfinancial for trading stocks. I do but I decided to keep quiet to hear what she had to say. She was saying shit like "Imagine, 40% ng kinita ng pera nyo, sakanila mapupunta." That's when I realized nangbubullshit sya because the commission is only 0.25%. It could've been an honest mistake but...
4) Practically try to force us to "not hesitate" in enrolling at THREE-SESSION COACHING WORTH 90K. And wait, discounted na yan! Promo daw eh! So she said, when you start attending the classes, don't tell your classmates because they paid 400k daw for those classes. WTF?
5) Focus on the participants' desire for wealth. No remote feel that they were there to educate.
Although I was obviously not sold, I went home with a nagging feeling that I just wasted more than 2 hours of my life. BUT WAIT, THERE'S MORE!
They kept calling me for daysss (sayang I switched phones so di ko na maprovide yung call logs) trying to convince me to enroll. SUPER KULIT. I got so pissed, nagsungit na ko sa caller and started doing my research. Here are what I found out:
1) Greg Secker, the self-styled "internationally acclaimed" trading genius, was never even a trader. He was only affiliated with the big financial corporations that he LOVED to name-drop - as an employee.
2) For someone who claims his company can teach anyone to be really rich, the dude is allegedly operating at a loss.
3) His companies' incomes are mostly from the "enrolment fees" the more gullible trusting people throw in - not from actual effective trading.
And soooo much more sketchy stuff. Up to you to give them a chance. Here are some links to foreign articles about Greg Secker and LearnToTrade:
The Guardian article
BBC UK article
DailyMail UK exposé article
Greg Secker labeled as a "snake oil salesman" LOL
Quora forum
Philippine exposé vlog
And on and on...
It's surprising that even after getting exposed left and right, he's still able to stay in the business. Im not here to smear shit on LearnToTrade or call Greg Secker a charlatan, I just think you should at least know what you're getting into and not listen to someone sell alchemy. Total waste of time. I know somehow there are honest people in that company, but I think they can only be the naive ones.
PS: Just found out they're NOT registered with the SEC and was raided by the NBI as a syndicate halos last month lang. Hohoho. Pero may ads parin sa Facebook? Help me report pag may nakita kayo. :)
submitted by MisanthropeInLove to Philippines [link] [comments]

Help! My mother got scammed via UMarkets.

Posted this on scams as well but maybe folks around here can help me out. Also, I don't know how to cross post on mobile. Sorry.
TLDR: Our mom lost over $3,000 in a trading app called UMarkets. We suspect it might be a scam so we want to find out if we can recover the funds.
Update: I'd like to thank everyone who commented on this thread. You have all been very helpful. I will try later to reply to each of the comments here. But first, I'd like to clarify a few things. A couple of hours before I made this post yesterday, I finally mustered the courage to ask our mom what she was up to. Months earlier, she had ask one of our sisters to print a highly suspect document about some money she owed in some offshore bank in Belize. That rang off alarm bells among my sisters and me, unfortunately we kept tiptoeing about it.
That Saturday morning, my sister told me about the app that our mom has on her tablet, the UMarkets app. So when she came home from a PTA meeting, I asked her about the document. That's when she told me everything and how she lost her money. It was more of a heart-to-heart talk and I really just offered a listening ear. She just talked freely and truthfully about everything that happened. I warned her that her UMarkets investment might be a scam but I told her that I'll look into it further. I assured her that everything will be alright even if there was no chance of recovering the money she put in.
I guess overall she was glad to be able to get this off her chest. Apparently it's been bothering her since the beginning of this year. I told her not to put any money into the app and to stop contacting Marcus. He was still trying to convince her to buy Netflix stocks or trade other commodities like oil. But anyway, after our conversation, I decided to post here on Reddit to ask around and get any leads.
I really feel sorry for our mom. She really wants to make money on her own so much that it lead her to this. I guess deep down she just wants a bit of control over her life. She's a house-wife and our dad doesn't let her do anything that much. She has kept everything about this a secret from our dad.
This Sunday morning, I told her that after a bit of research, I can say with 100% certainty that the whole UMarkets debacle was a scam and there was no chance of getting the money back. She was still a bit in denial. We told her the only was forward was to block her credit cards, talk to someone in the bank, and try to report the incident to the NBI's cyber crime division.
So that's the end of my update.
Sorry if I sound incoherent. I just only found out about this a few minutes ago when we confronted our mother about suspicious transactions she's making. For some background, we live in the Philippines. My mom isn't fluent in English and she did not finish college. She isn't financially literate and to be honest, I'm not really well-versed in investing as well. She's a stay-at-home wife and my sisters and I still live with her and our dad. Anyway, here's a timeline of the events.
Last year September, our mom might have seen an ad on Facebook or saw a spam comment so she got interested in investing her money. She somehow got in touch with a guy named Marcus Moreno, a guy who introduced himself as a stock broker based in the UK. He's Filipino so my mom and him often chat through Skype in Filipino. From my understanding he's the one who walked our mom through the whole process of buying and selling stocks on UMarkets.
Around September 2018 she made an initial investment of USD 3,750. We don't have that kind of money so she used her credit card and pawned off her jewelry to pay for it. Her stock broker set her up to buy and sell currencies (USD, AUD, JPY if I remember correctly). Her initial investment got wiped out thid January 2019 because, according to Marcus, the yen dipped in value. Her account in UMarkets is blocked for now.
This is where it all goes weird for me. I'm not sure if it's because I find it hard to understand the situation or of our mom is having a hard time explaining it. She says Marcus told her that if she wants her money back, she has to make another deposit of USD 1,000. If she doesn't do anything, the USD 3,750 will be lost forever.
She googled UMarkets scam and managed to contact a website called MyChargeBack.com, which seems to me specializes in dealing with recovering money lost in forex scams, etc. In an email from the website, they want to redirect her to Dispute2.com, which I'll be looking into in a while.
To be honest, I really don't know what to do or who to run to. I just wanna help our mom sort out this mess. I appreciate any help or advise that we can get.
submitted by jcw5000 to phinvest [link] [comments]

My mother got scammed via UMarkets

TLDR: Our mom lost over $3,000 in a trading app called UMarkets. We suspect it might be a scam so we want to find out if we can recover the funds.
Sorry if I sound incoherent. I just only found out about this a few minutes ago when we confronted our mother about suspicious transactions she's making. For some background, we live in the Philippines. My mom isn't fluent in English and she did not finish college. She isn't financially literate and to be honest, I'm not really well-versed in investing as well. She's a stay-at-home wife and my sisters and I still live with her and our dad. Anyway, here's a timeline of the events.
Last year September, our mom might have seen an ad on Facebook or saw a spam comment so she got interested in investing her money. She somehow got in touch with a guy named Marcus Moreno, a guy who introduced himself as a stock broker based in the UK. He's Filipino so my mom and him often chat through Skype in Filipino. From my understanding he's the one who walked our mom through the whole process of buying and selling stocks on UMarkets.
Around September 2018 she made an initial investment of USD 3,750. We don't have that kind of money so she used her credit card and pawned off her jewelry to pay for it. Her stock broker set her up to buy and sell currencies (USD, AUD, JPY if I remember correctly). Her initial investment got wiped out thid January 2019 because, according to Marcus, the yen dipped in value. Her account in UMarkets is blocked for now.
This is where it all goes weird for me. I'm not sure if it's because I find it hard to understand the situation or of our mom is having a hard time explaining it. She says Marcus told her that if she wants her money back, she has to make another deposit of USD 1,000. If she doesn't do anything, the USD 3,750 will be lost forever.
She googled UMarkets scam and managed to contact a website called MyChargeBack.com, which seems to me specializes in dealing with recovering money lost in forex scams, etc. In an email from the website, they want to redirect her to Dispute2.com, which I'll be looking into in a while.
To be honest, I really don't know what to do or who to run to. I just wanna help our mom sort out this mess. I appreciate any help or advise that we can get.
submitted by jcw5000 to Scams [link] [comments]

FINALLY!!! A New Crypto Company that's about to Launch and Dominate the Industry!!!

NEXUS Global has all the Crypto Business Sectors covered, Excellent Compensations and Rewards, complete Transparency and Much Much MORE!!!
JOIN US!!! In PreLaunch - NEXUS Global “The Central Most Important Place” that connects ALL CryptoCurrency Marketplaces!!!
CryptoCurrency MultiWallet! Own Exchange built into the dashboard! with 3 currencies (USDollars, Euro, British Pounds)! Crypto Credit Card - Master Card! Premium ICOs & IPOs! in 17 Different Languages! Based in Europe! Outsorced Pro-Support! Certified, Regulated and US Patented Products! Landing Page in 17 languages with Funnel System! Free Academy Training and Education Program! Weekly Webinars & Trainings! $100 Million invested into Mining Farms! Mining Farms in Germany, China & Sweden! Offices in Hong Kong, China, Germany, Bulgaria & Philippines with country managers! Mining Packages ($25 - $250,000)! GPU, ASIC & Scrypt Mining Mix! Already generating crypto coins! Funds already available to payout commission as soon as we launch! 8 Products to choose from... Mining Packages, Crypto Casino, Binary Options, Online Betting, Forex Trading, Crypto Trading, ICOs & IPOs and Exchanges! $35,000/Week Max, Cap ONLY on Binary Comp Plan! NO Cap on 10% Direct Sales of mining packages! 8-Generations Deep Uni-Level Compensation! 6-Generations Deep Matching Bonus Commission! And so much more...
https://youtu.be/x5upvbQ6ikQ, watch this video for details then reserve your place with us!
np.reddit.com/Bitcoin/comments/82n400/mlms_bitcoin_ponzis_scams_just_the_facts/
submitted by ShaRey2016 to NetworkMarket [link] [comments]

Here's why you'll NEVER make money in Forex. The Forex ... FOREX TRADER & HIS WIFE EXPLAINS HOW THEY MADE 6 FIGURES ... Why you loss in Forex Trading - Tagalog Forex Trading is a SCAM 🚨 👀 Learn about FOREX SCAMS - YouTube How to become a Forex Trader in the Philippine Full Guide ... Can You start Trading FOREX with only $100 Dollars  Lets ... Forex Trading Scams - The Only Way To Make Money without losing it... IS FOREX TRADING A SCAM? 🙄 - YouTube Is Learn To Trade A Scam? SCAM ALERT AGAINST XM.COM

Whether it’s insider trading or some other manipulation of the international markets, trading fraud can take many guises – and it can even have links to the wider stock markets as well. As a result, it’s wise to keep yourself fully informed about what the brokers you are considering are up to – and make decisions to avoid those who don’t offer the level of safety and security you ... Some companies who provide financial services in the UK without authorization run investment scams and it seems that Markets Trading might be one of them. Lots of negative reviews . As we we did our due diligence research on Markets Trading, we found a number of negative user reviews in various forex forums and sites. Most of the people say they have been sweet-talked into depositing more and ... FOREX TRADING IN THE PHILIPPINES. Nowadays, Forex trading is becoming popular in the Philippines. There are lots of mentors out there who guides and train Filipinos to be a successful Trader. As the number of Forex traders increase in the country, the number of scam individuals and brokers also increased. This is why when we heard someone ... MANILA, Philippines – Forex trading investors are being warned against scams that lure in investors only to rip them off of their hard-earned money. Financial adviser Salve Duplito said here are three signs that investors are getting into a forex trading scam: High fees for seminars and high commission fees. Brokers are promising guaranteed ... How to open Forex account in Philippines You need a trusted broker that has low commission and have office in Philippines. I really recommend this FOREX BROKER because they have good customers support for Filipino people who want to trade Forex. They have free seminars around the Philippines, Once you registered they will contact and help you to lean more in trading. On October 30, 2018, the Philippines Securities and Exchange Commission (SEC) Issued it’s latest advisory stating categorically that “Forex Trading Is Illegal In The Philippines” … Top 7 Forex Scams To Avoid Today. As Forex markets promise to give you an incredible return on investment, they became trendy in the last few years.However, often Forex traders don't have a great understanding of how Forex markets work and what a Forex broker does exactly, which leaves the latter a lot of room to scam the trader. Forex Robot Scams. A forex robot is a trading program that enter and exit trades automatically. The Point-Spread Scam. The Point-Spread Scam based on computer manipulation of spreads. You can learn more by reading our Forex trading guide. Is Forex a scam? There are many types of Forex scams including some of the Forex scams we list below. February 19, 2017 By Forex Trading Philippines 2 Comments Beware of this company ‘Ultimate Forex Philippines’ that’s offering another GUARANTEED Return of your investment similar to JJPTR, a Malaysian company where the SEC (Securities of Exchange Commissions) released an advisory earlier this week advising the public to STOP INVESTING on this kind of investment activity. The following Forex scams list documents the scam type that have been involved in Forex frauds at present and in the past. Signal sellers The signal seller scam is a scam which works by a person or a company selling information on which trades to make and claiming that this information is based on professional forecasts which are guaranteed to make the inexperienced trader money.

[index] [26518] [15360] [9389] [9850] [10175] [22639] [20237] [1026] [1788] [20275]

Here's why you'll NEVER make money in Forex. The Forex ...

Watch my new tutorial for Forex Trading Part 1-3 Mas advance at madaling maintindihan. Watch Here: https://www.youtube.com/playlist?list=PLM6czgOawRQfzH6tzhN... Forex trading SCAMS don't waste your money, this is a one time out of pocket fee of $11 with a great make money income opportunity and serious training worth 100 times the price. Forex Trading is a SCAM 🚨 👀 Learn about FOREX SCAMS - Duration: 5:57. BestStockStrategy 66,035 views. 5:57. Steve Jobs introduces iPhone in 2007 - Duration: 10:20. ... Forex trading is a scam. Forex scams and forex trading are very popular. 100% of the gurus on YouTube who claim to be profitable forex traders are frauds Dis... Forex Trade With Us http://bit.ly/2EYIbgI Email: [email protected] P.S MY INSTAGRAM IS GONE NOW SO IF SOMEBODY WRITES YOU ITS NOT ME ALSO IM NOT ON T... Is Forex Trading a Scam? http://www.financial-spread-betting.com/forex/forex-trading.html PLEASE LIKE AND SHARE THIS VIDEO SO WE CAN DO MORE! I sometimes get... Learn To Trade Forex With Me And I Can ... How to Trade Forex in the Philippines - Duration: 34:21. Bibiano ForeX 161,220 views. 34:21. The Most Common Trading Scam I See and the Number One Reason ... Learn more here: https://bit.ly/2ShPRPx Here' why you'll never make money in Forex. It's all because of the Forex cycle of doom. Many aspiring traders who ar... This video will discus on how you loss in your Forex Tading. 6 Types of Pitfalls in Forex trading. 1. No Trading Discipline 2. Trading without Plan 3.Too high lot size used. 4. Thinking Forex ... So for anyone looking to get into trading i will be shearing and answering all i can. By no mean am a pro but I believe I can add some value. We will be trad...

http://binary-optiontrade.exmerhacklabnessmo.ml