Is country relevant to earning from Forex?

[Fxpipper]

That's not the case, some countries do place restrictions and may prevent their citizens from trading with live accounts. In certain cases, they do set upper limits as to how much you can trade with, in the end it comes down to the regulation in force.
You can trade forex from anywhere, that's kind of a given but would you be barred from trading with a live account or without restrictions - depends on the country in question, including United States.

[mingbao]

Location is not important in this industry, the market doesn't care where you are from.

forex trading knowledge, trading experience and a mature psychological quality are the most important.

[Fxpipper]

Sorry, but would have to disagree with you. Do review my reply, you will see that while forex trading by definition, works anywhere in the world - the reality is that some countries will enact legislation to protect it's currency.

Almost all the countries have some regulation or the other that either seeks to limit their currencies exposure. The question you need to ask is " which countries are enforcing this regulation today?" And the answer "google it"

[nikil]

yes the location is not important

[Fxpipper]

By definition, Forex trading is supposed to transcend borders or we traders would like for it to be the case. But as reality bites, Uncle Sam and others do have a say on how their citizens trade on the spot forex, from leverages to account sizes..regulations are in place.
And this is why some forex brokers make a point of not catering to certain nationalities [re: Frank Dodd]

[inggo]

in general as a nationality it does not have an effect expect if there are different forex laws and taxes like in the US, man its not easy to earn from forex there, but the bottom line is, its about how much knowledge you acquired through studying, and time spent to earn exp, Im from south east asia, trading with a broker based i think in europ (hotforex) and im happy earning, i do lose some and earn some, and i still try to study more

[Fxpipper]

Good for you and yes, while there are supposed to be no barriers when it comes to online trading [from options to forex], nearly every nation has its own set of rules in order to regulate the same. Sure, they tend to sugarcoat these rules as a way of protecting their citizens but we all know the truth for what it really is..politicians, yuck!

[mingbao]

Originally Posted by Fxpipper

Good for you and yes, while there are supposed to be no barriers when it comes to online trading [from options to forex], nearly every nation has its own set of rules in order to regulate the same. Sure, they tend to sugarcoat these rules as a way of protecting their citizens but we all know the truth for what it really is..politicians, yuck!

yes, exactly. some restrictions will make some troubles.
but you should consider them only when you have very big account. and you will have ways to solve that then.

[inggo]

Originally Posted by Fxpipper

That's not the case, some countries do place restrictions and may prevent their citizens from trading with live accounts. In certain cases, they do set upper limits as to how much you can trade with, in the end it comes down to the regulation in force.
You can trade forex from anywhere, that's kind of a given but would you be barred from trading with a live account or without restrictions - depends on the country in question, including United States.

I trade from the philippines, I know so little when it come to laws and taxation.

but i believe there are not forex laws or taxes here? is that like an advantage on my end? I know in the US there are a lot of laws regarding forex trading, and I think they restrict their citizens to trade with local brokers. thats unfair if you ask me

[Fxpipper]

Originally Posted by inggo

I trade from the philippines, I know so little when it come to laws and taxation.

but i believe there are not forex laws or taxes here? is that like an advantage on my end? I know in the US there are a lot of laws regarding forex trading, and I think they restrict their citizens to trade with local brokers. thats unfair if you ask me

Every country has some form of rules and regulations in place to prevent any sudden devaluation of their currency. You can check online, google and a few other search engines for relevant information as it applies to your nation. Here's a link,
http://www.cftclaw.com/2011/09/forex-rules-philippines/

And as you can see, while the rules are relaxed [for the moment], there are still restrictions in place to protect the currency.