Bank of Namibia clarifies forex trading rules Edgar Brandt WINDHOEK – The Bank of Namibia on Friday afternoon clearly pronounced itself on the issue of foreign exchange (forex) trading, reminding Namibian residents 18 years of age and older that they are entitled to an investment allowance of N$6 million per year for investment purposes abroad Bank of Namibia assures traders that online Forex trading is legal The Bank of Namibia was recently forced to re-iterate its announcement made in October that online FX trading in the country is allowed and protected by bank The Bank of Namibia, the central bank of the country, has recently reiterated its position on online foreign exchange (forex) trading, as protestors take to the streets after their money was withheld in relation to an FX scam
Is Forex Trading Legal in Namibia? Click To Find Out
The Bank of Namibia was recently forced to re-iterate its announcement made in October that online FX trading in the country is allowed and protected by bank.
This announcement was forced upon the bank after peaceful protests following a notorious scam in the country a year before. Naturally, the Bank of Namibia had to take action as neither Amushelelo nor Cloete had any license from the financial regulator of the country. Right after the arrests, all of the bank accounts and assets under their names were frozen preventing any kind of refund request from investors, is online forex trading legal in namibia.
Dozens of distraught investors held peaceful protests demanding that the government release their funds. Unfortunately, though, that is currently impossible as investigations are still underway. The Bank of Namibia was forced to make the announcement just to clarify to the public that the funds are not being withheld because online trading is prohibited in the country. They tried to outline the difference between legally placed trades vs illegally undertaken investment opportunities within the jurisdiction of the bank.
If Amushelelo and Cloete is online forex trading legal in namibia applied for a license from the bank, all of this could have been avoided.
Although the protests are completely justified, the investors that fell for the alleged scam will have to wait until further investigations are completed implicating Amushelelo and Cloete as criminals. Stay up to date with the financial markets everywhere you go. Start trading now. Home - Top News - Bank of Namibia assures traders that online Forex trading is legal. Top News. by Kate Wilson on August 11, Peaceful protests Dozens of distraught investors held peaceful protests demanding that the government release their funds.
Why the announcement? Comments 0 comment s Click here to cancel reply. Leave a comment. Get the most recent news at your inbox Stay up to date with the financial markets everywhere you go. Get next at your mailbox. TOP FOREX BROKERS. Register Read review. Try Forex. Com Trade with a US-friendly Forex broker on advanced platforms for free. TOP STOCK BROKERS. View BROKER. RECENT ARTICLES. UPS stocks up as company announces record first quarter results. Harry Davies.
Netflix shares drop as company publishes quarterly data. Shares of Ford Motor decreases by is online forex trading legal in namibia. Goldman Sachs publishes record profits, shares surge. Get the most recent news at your inbox. Copyright InsideTrade. Follow us.
First Namibian Forex Trader to flip a N$100 account to 40k with NAS100
, time: 5:30Bank of Namibia clarifies forex trading rules - Truth, for its own sake.
If you're interested in trading Forex in Namibia, you probably want to know whether or not it is legal for you to do so. After all, with your capital at risk, the last thing you want is trouble with the law. Lucky for you, we've researched the legislation, and found that it is % safe for you to trade Forex in Namibia! The Bank of Namibia, the central bank of the country, has recently reiterated its position on online foreign exchange (forex) trading, as protestors take to the streets after their money was withheld in relation to an FX scam Bank of Namibia clarifies forex trading rules Edgar Brandt WINDHOEK – The Bank of Namibia on Friday afternoon clearly pronounced itself on the issue of foreign exchange (forex) trading, reminding Namibian residents 18 years of age and older that they are entitled to an investment allowance of N$6 million per year for investment purposes abroad
No comments:
Post a Comment