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[CristinaC]

Task 1: 482659

Task 4

Edited Saturday at 09:42 PM by CristinaC

[MrAdmin]

Members who completed task 4: @musketeer, @CristinaC, @BuggyMan

[⭐ musketeer]

On 6/27/2024 at 8:48 AM, Kunal said:

Task 4: [Jun 27-Jun 29] Make a deposit and share feedback about your experience (deposit methods, currency, overall process) here in the forums.

Uh-Oh!

Using $$ for margin is illegal here.

Sometimes it is safer, believe me 🙂

[⭐ Kunal]

9 hours ago, musketeer said:

Sometimes it is safer, believe me 🙂

The problem is that using local currency for margin is legal, but $$ is not.

[MrAdmin]

The winner of the task 4 is @BuggyMan! Congratulations!

Here is the lucky draw recording:

[⭐ musketeer]

18 hours ago, Kunal said:

The problem is that using local currency for margin is legal, but $$ is not.

I couldn't understand, can you explain?

[⭐ Kunal]

3 hours ago, musketeer said:

I couldn't understand, can you explain?

I can trade anything as long as I use local currency as margin.

FX brokers and others need $$ to be deposited for margin which the central bank here has made illegal.

To send $$ to the broker, I have to buy $$ from my local bank. The bank will allow me to buy $$ to be used to buy shares in the US, but NOT to be used for leverage.

It is a non-bailable, jailable offense.

Edited 23 hours ago by Kunal

[⭐ musketeer]

wow! it sounds terrible to me...

then, I suppose, if you may get crypto with local currency, all is good?

[⭐ Kunal]

Traders here have to live with it. I don't have a forex account cos the brokers accept only $$.

There are people here who trade forex/crypto but get the deposit made from a friend or relative. I can get $$/crypto paid to me via Paypal but cannot hold it.

According to govt rules it has to be converted into local currency within a few hrs and sent to my bank account whether I like it or not.

 

 

[MrAdmin]

Task 5/8 [Jul 1 - Jul 3] Open a trade with an AI signal and share the feedback with us.