What payment methods are acceptable for forex trading?
You need a payment method registered in your name, such as a bank card or electronic wallet, to fund your trading account.
Do I need to be a resident of the country where I trade?
Yes, you must be a resident of the country where you are trading. Some countries have specific restrictions due to local regulations or international agreements.
What is the minimum age requirement to start forex trading?
You must be at least 18 years old to engage in forex trading. However, some countries may have a higher age requirement, such as 21.
Is forex trading income subject to taxation?
Yes, profits from forex trading are subject to taxation. In India, forex trading profits are taxed as business income, with the tax amount depending on your tax residence status, trading type, and applicable tax rates.
Is My Prime FX a suitable and reputed trading platform?
Yes, My Prime FX is known for its robust trading conditions. The platform provides tight spreads and low trading costs, enhancing profitability. It benefits traders with sophisticated charting and analysis tools. A seamless verification process and various funding options make getting started easy.
