This is outrageous! Have you ever seen such a forex black platform? Dong-a: The tax on the withdrawal is higher than the profit? A 25% tax on a $100,000 profit? This case is seen in the once exposed black platform Sunray Forex, and even Ms. Liao, who first came into contact with foreign exchange trading, noticed the strange proportion.

In view of the fact that forex traders always encounter the problem of asking for margin and taxes on the platform, Tianyan here reminds you that foreign exchange trading novices do not need taxes and deposits on the formal foreign exchange platform! It must be a black platform that needs to pay taxes, but such an outrageous ratio as Sunray Forex is also rare! And today Tianye Jun also take you to talk about why the so-called margin and tax scam often works?

Do I have to pay tax on foreign exchange transactions?

No need!

First of all, as we said at the beginning, foreign exchange trading withdrawals are not subject to tax. In fact, one of the advantages of many investors choosing foreign exchange trading is that the foreign exchange market is free to withdraw funds and does not need to pay taxes. The reason is actually very simple because forex trading is a gray area in China, and there is no tax requirement for the time being.

However, more investment items are subject to tax, so fraudsters take advantage of some unknown weaknesses in forex trading, through this excuse to obtain more funds. And according to the cases that Tianyan came into contact with, the fraud of paying taxes is common in the pig killing plate, in general, the victims of the pig killing plate do not have the knowledge of foreign exchange, and the operations such as gold transactions are completed under the guidance of the scammers, and whether the foreign remittance of gold requires taxes they do not know!

Ms. Liao from Taiwan mistakenly "kill pig plate" scam in social software, scammers lured her to the black platform Sunray Forex, want to withdraw money when the platform customer service was told to pay the account balance of 20.6% tax! In the past, black platforms did cheat victims of 5 or 10 percent of the tax, but 20 percent of the tax is really a little ridiculous. What's more, the proportion of profit from Sunray Forex principal is about 18%, and the tax is higher than the profit.

In such a comparison, Ms. Liao found herself cheated, sure enough, through the foreign exchange Tianye query the platform, there is no regulatory license of the low score platform, is no doubt a black platform!

In this case, fortunately, the tax ratio is too high, Ms. Liao did not fall for it, but in more cases, many uninformed victims have truthfully paid taxes, because the tax is not serious enough compared with the profit! The cheater is to seize the victim reluctant to give up the psychology of high account balance, often successful!

Do I need to pay a margin for forex trading?

Traders often ask the customer service of Tian Eye, is it reasonable for the platform to require me to pay a deposit? It is absolutely unreasonable to ask you to put down a security deposit when withdrawing money.

Ms. Zhong, who had been deeply involved in the fake FXTM Futuo scam, downloaded the copycat "Futuo" trading software under the encouragement of netizens, and when she wanted to withdraw gold, the platform customer service said Ms. Zhong would input her bank card number incorrectly, requiring an additional deposit of 50,000 yuan to withdraw gold, otherwise the account would be permanently frozen.

The margin in this case is an unreasonable request and is the action of a black exchange platform. Many traders have this margin payment doubts, mainly due to foreign exchange trading also known as foreign exchange margin trading.

The margin in foreign exchange margin trading means that in foreign exchange trading, the client invests a certain amount of funds as the margin for foreign exchange trading. This margin requirement allows investors to trade larger amounts with relatively small deposits. For example, if you choose 100x leverage, you put $1000 into the market, and if you use margin trading, you have the equivalent of 1000x100= $100,000 to trade.

So, this margin is just the amount of guarantee when trading foreign exchange, and the deposit that we often talk about is the guarantee for the platform. The platform provides investors with the transaction amount multiplied by the leverage ratio of funds to enter the market for trading, and the service fees charged by the platform are basically spread, there are no other fees.

Many black platforms under the pretext of gold need to pay a margin, modify the information need to pay a margin, and the real margin is not the same meaning, and the formal foreign exchange platform will not ask you for additional margin.

Sum up

The insatiable fraudsters of the black exchange platform will not simply be satisfied with the amount of money deposited by the victims, but will use the excuse of tax and security deposit while unable to withdraw money. On the one hand, traders must understand some relevant foreign exchange knowledge when they come into contact with foreign exchange trading, and on the other hand, learning to use the truth and falseness of the query platform can effectively avoid the black platform!