GENERAL QUESTIONS ABOUT FOREX TRADING
How to start and what you need to know
Is Forex trading legal in the Maldives?
Yes, trading Forex is legal for every citizen of the Republic of Maldives. There are some surrounding countries where Forex traders need to have a special licence (Sri Lanka) or where Forex is limited to specific currency pairs (India). In some countries, like Pakistan, Forex is illegal.
What are the requirements of a Forex trader?
You need to be 18+ and must be able to prove your identity, for example, bu sending a copy of your ID-card or passport to the broker. You also need a bank account or online wallet. Please note: you can not use PayPal for transferring funds into your trading account.
WHEN TO TRADE FOREX
Days, hours and time to trade Forex
Can I trade Forex on Saturdays and Sundays?
Yes, you can, but we do not recommend it. The only currency pair available for trading is the BTC/USD (Bitcoin). A dangerous currency since it is not connected to any economy.
What are the Forex opening times
You can trade Forex 24 hours a day, but that’s not advisable. During our trading you will learn what the best time is for you to trade Forex. Local Maldivian times can be found on this page.
What are the best times to trade?
There is no specific time when trading is more or less profitable. However there are times when it’s advisable NOT to trade. Join our online training to find out more about trading moments.
Questions about us , the website and our services
Do you organize training in the islands?
No, our training is 100% online. We do not travel to the islands and we are not affiliated with any person or organisation that provides courses or training in the islands or the capital Malé
Can I copy ForexMaldives during trading?
No, ForexMaldives does not recommend copy-trading or any automated trade system. Therefor we do allow access to our trade accounts for copy-trading or auto-trading.
Please be aware of any person or organisation claiming to act on behalf of ForexMaldives.com. If anyone contacts you claiming to act on behalf of ForexMaldives, please contact us immediately or call the local police station in your island. ForexMaldives does NOT trade on behalf of individuals and we do NOT offer any paid service other than support and training.