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    Thread: Why some government don't give permission to their citizen to engage in Forex?

    1. #11
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      It is not that Government of Bangladesh has put an embargo in Forex trading. They do not like people getting engaged with it a great deal since 95 percent of them will fail. However, people still trade on this and withdraw money through online payment gateways such as skrill, Alertpay, etc. I am not sure whether our local banks do that without asking any question since I have never tried them.


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      Quote Originally Posted by Nobin Chandra Roy     
      Government of some countries does not give permission of forex business. I am a Bangladeshi and looking carefully hundred and thousand people are engaged them-self in Forex business for a long time without the permission of government. What may be reasons not to give the permission.
      Yes it is true that some countries's government does not allow to trade forex, i think in india there are some restricition to trade forex trading, i think in the reason to not allowed or to put some restriction to trade in forex trading is that they face some difficulties to gave thier people free hand to trading might they are facing proplem to control the dollar value or any thing else.


    3. #13
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      i think it is because government is thinking if he approve this business on our country people will send their black money on or their income on foreign country through it and government will not get proper income tax. other think most of the people think investing forex means investing money on developed countries development , if they allow that poor county will not get investment for their own development.


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      i dont think that is possible because forex is legal business and each government has to do it even, for the sake of international trade and import and export. but if your country does not allow it then there must be some reason, plus you can make a community it highlight the matter to the higher authorities to get the issue resolved.


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      No we do not need to take permission from starting this busienss it is our home busienss and we did this busienss with our own money so we do not need to take any permission from government.


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      As Bangladesh is listed in the third world country list, the government has the fear that some people can transfer money to some another country by money laundering. It is right that a lot of traders are taking this option to have the invest in the market(except the traders who depends on the forum posting). Some of the traders are finding very good profit and maximum time they can earn more the 40% in a month. It help to increase the remittance. The traders who are loosing money in the market that amount is not so much. If it is compared with the overall profit of all Bangladeshi traders loss is about 10-15%. But the government is not caring about that. And for this we are facing this problem.


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      Exactly i do not know the real news about this.As far my known that it is not allowed for our country.Because of this money of our country should not go out for business purpose.


    8. #18
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      Default "Permission of Forex Business"

      It all depends with the policy of a country one is, how do you give your returns in the money you earn and if the government is so strict on what trading they allow. One need to know if Forex trading is one of the banned business in their country.


    9. #19
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      Quote Originally Posted by Nobin Chandra Roy     
      Government of some countries does not give permission of forex business. I am a Bangladeshi and looking carefully hundred and thousand people are engaged them-self in Forex business for a long time without the permission of government. What may be reasons not to give the permission.
      there is no permision required in the forex trading business and every one can join this great business without any permision and it is very good business of trading.


    10. #20
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      Yes i also know about this problem there are many country don't give permission for doing forex trading actually whats the reason i don't know, see from this business there are many people can make some money and they make their life so easy. i think its not a good decision for the government.


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