Are CFD’s legal?

  • Are CFD’s legal?

    Posted by Ant on December 30, 2023 at 5:03 pm

    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.

    WiseWill replied 1 month, 3 weeks ago 2 Members · 1 Reply
  • 1 Reply
  • 6241ab5422069 bpthumb

    WiseWill

    Community Trading Group Trader
    December 30, 2023 at 5:21 pm

    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.

Log in to reply.