Philippines is still among the developing countries in the world. The philippines are known as a developing market for broker companies and the bsp makes sure that the locally registered brokers abide by rules and regulations.
Yes it is legal as long as you choose a regulated forex trading company.
Forex in philippines. Is forex trading legal in the philippines. On october 30 2018 th! e philippines securities and exchange commission sec issued its latest advisory stating categorically that forex trading is illegal in the philippines for context here are the highlights of that advisory. As the economy of philippines continues to grow there are more and more locals open forex accounts with foreign forex companies who offer them the best trading services.
On the contrary the smartest investors search. Learn how to trade and the best forex brokers to use for 2019. Bsp stands for bangko sentral ng pilipinas which is the local regulatory body for forex brokers in the country.
The bsp allow the sale of fx products by authorized agent banks subsidiaries or affiliates to residents. Forex in the philippines. If you live in the philippines trading in the forex market has its own set of rules.
The bangko sentral ng pilipinas bsp is the regulatory body in the philippines. However it does not mean oppor! tunities are not there when it comes to investment.
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