Philippines

Philippines (post #854602)

Symple · 2021-10-28T04:02:36-04:00

FinanceForever It occurs to me that there may be a small, but very important ambiguity prevails here.Why? In your first question on the subject you write: "Accounts for traders based in the Philippines". But in the above posting, however, you write: "Accept Philippines-based accounts." These are two completely different pairs of shoes.When I opened a purely private trading account by a broker in the USA, I had to transfer the money to an account at an American-based bank with which the broker cooperates. I also had to declare the approximate amount of my annual income. If this is too small, you will be rejected, because the risk that the broker has on your open positions if a margin call can not be serviced, is simply too big for him. (Rule so incidentally and only what I have already been told on the first day of trading: See that you never get a margin call. And I never had one) Anyway: Hope for you that you mean the first mentioned and not the second variant, because then I would also have no answer in stock Symple

October 28th, 2021, 04:02 AM	#21 (permalink)
Symple Zuerich / Switzerland Legendary Market Wizard Experience: Master Platform: TastyTrade Broker: TastyTrade Trading: Hedges with Options on Stocks, ETF's and Futures Frequency: Every few weeks Duration: Weeks Posts: 1,250 since Sep 2021 Thanks Given: 1,659 Thanks Received: 2,543	@FinanceForever It occurs to me that there may be a small, but very important ambiguity prevails here.Why? In your first question on the subject you write: "Accounts for traders based in the Philippines". But in the above posting, however, you write: "Accept Philippines-based accounts." These are two completely different pairs of shoes.When I opened a purely private trading account by a broker in the USA, I had to transfer the money to an account at an American-based bank with which the broker cooperates. I also had to declare the approximate amount of my annual income. If this is too small, you will be rejected, because the risk that the broker has on your open positions if a margin call can not be serviced, is simply too big for him. (Rule so incidentally and only what I have already been told on the first day of trading: See that you never get a margin call. And I never had one) Anyway: Hope for you that you mean the first mentioned and not the second variant, because then I would also have no answer in stock Symple