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Are CFD’s legal?
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Are CFD’s legal?
I have been investing/trading Cryptos for quite a while now and am looking at day trading and maybe attempting a Prop Firm challenge. I dont know too much about CFDs but a friend of mine says they are illegal.
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1 Reply
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Hi Ant
Your friend is right and wrong, if you are based (a resident or citizen) in the US then yes they are illegal to trade. There are a few other countries that make it illegal to trade CFD’s and they include Hong Kong and India. You mention that you might be interested in taking a challenge with a Prop Firm, this is an interesting point here. If you pass the challenge you will be ‘working’ for a Prop Firm, so in essence you will not be risking your own money so this falls outside of the regulators domain. However I would check with the Prop Firm before you sign up.
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