When the mess of the pyramids and the illegal collection of money broke out, the international currency market (Forex) ended up questioned because some companies
were justifying the high returns they offered with alleged investments in this market. Such is the case of Capital Forex, a pyramid that worked in Tuluá, Buenaventura, Cúcuta and Armenia but whose returns had nothing to do with buying and selling currencies. But there were also companies that were promoting the product without having the due authorization from the Financial Superintendency, such as Evolution Market Group (Forex Finance), an entity supposedly incorporated in Panama, which did not have any licenses in that country either.
This situation put the Forex in the public pillory and created the feeling that this type of investment was one more pyramid, when this is one of the largest financial markets in the world, in which anyone can enter through electronic means to Buy and sell all types of currencies (dollar, euro, yen, pound sterling, Swiss franc, among others).
In Colombia, a person can legally access Forex through two mechanisms: look for a broker abroad or do it in Colombia through a representative office or correspondent of a broker abroad.
In the first case, if the investor has the resources in Colombia, he must remove them from the country using an intermediary of the foreign exchange market (bank, commission agent, exchange house) as if he made an international turn. Therefore, you must declare the source of the resources and make the declaration of change before the Bank of the Republic.
The recommendation, in this case, is to invest in a recognized broker, with trajectory, supervision and surveillance of state entities, and use the formal channels to turn the money into the account abroad with which it will operate. Do not give the money to anyone.
When it comes to a representative office or a contract correspondent who has any of these international brokers in the country with duly authorized by the Financial
Supervisory Authority to promote the product, be sure to double check the references of the entity and remember entities that all service and transactions are made with the outside broker. That is, the entity in Colombia has to certify that you opened the account with the international broker and that your resources go to that account. In this case, the money orders you make are also registered with the Banco de la República.
So far, the only entity authorized by the Superintendent is Fit Forex Investment Team AG, representative office in Colombia of Forex Investment Team AG, a Forex broker based in Switzerland.
How to invest in Forex?
The broker abroad and the representative office give the investor the platform to trade in the currency market. The client decides whether to negotiate directly, or gives a trader of the entity the responsibility for the negotiation (managed account).
After having clear the way to access the Forex, remember that this is a highly risky market because although you can get high returns in short periods of time, given the high volatility of these markets and the high degree of leverage, you can also lose all the investment. With deposits ranging from US $ 300, positions of up to US $ 60,000 could be taken, which means that in case of small variations in the price of the coins, large capital can be lost or gained. For this reason, we must be clear that no one can guarantee fixed yields in Forex. Do not trust companies that guarantee high profitability in the short term because they most certainly have to take very high risks to generate them or are doing other things.
Speculation in the currency market must be done with money that can be risked and that if it is lost does not affect the financial situation or lifestyle of the investor. This money has no state guarantee or deposit funds either in Colombia or abroad. It is the investor who assumes all the risk, so he must learn very well how to do it.
For Margarita Baéz, Forex expert and legal representative of Fit Forex Investment Team AG, if someone wants to negotiate on their own they must have a lot of discipline, focus on few markets, know them in depth and study them daily. "The main problem for investors is that they want to become millionaires in a single day, and this is a market in which a lot of discipline is required ... The negotiation strategy I recommend is that what is taken risk is what can be done. easily recover, that's your stop loss, "he says.
Entities have demos (demonstration software) for people to test the platform before investing
were justifying the high returns they offered with alleged investments in this market. Such is the case of Capital Forex, a pyramid that worked in Tuluá, Buenaventura, Cúcuta and Armenia but whose returns had nothing to do with buying and selling currencies. But there were also companies that were promoting the product without having the due authorization from the Financial Superintendency, such as Evolution Market Group (Forex Finance), an entity supposedly incorporated in Panama, which did not have any licenses in that country either.
This situation put the Forex in the public pillory and created the feeling that this type of investment was one more pyramid, when this is one of the largest financial markets in the world, in which anyone can enter through electronic means to Buy and sell all types of currencies (dollar, euro, yen, pound sterling, Swiss franc, among others).
In Colombia, a person can legally access Forex through two mechanisms: look for a broker abroad or do it in Colombia through a representative office or correspondent of a broker abroad.
In the first case, if the investor has the resources in Colombia, he must remove them from the country using an intermediary of the foreign exchange market (bank, commission agent, exchange house) as if he made an international turn. Therefore, you must declare the source of the resources and make the declaration of change before the Bank of the Republic.
The recommendation, in this case, is to invest in a recognized broker, with trajectory, supervision and surveillance of state entities, and use the formal channels to turn the money into the account abroad with which it will operate. Do not give the money to anyone.
When it comes to a representative office or a contract correspondent who has any of these international brokers in the country with duly authorized by the Financial
Supervisory Authority to promote the product, be sure to double check the references of the entity and remember entities that all service and transactions are made with the outside broker. That is, the entity in Colombia has to certify that you opened the account with the international broker and that your resources go to that account. In this case, the money orders you make are also registered with the Banco de la República.
So far, the only entity authorized by the Superintendent is Fit Forex Investment Team AG, representative office in Colombia of Forex Investment Team AG, a Forex broker based in Switzerland.
How to invest in Forex?
The broker abroad and the representative office give the investor the platform to trade in the currency market. The client decides whether to negotiate directly, or gives a trader of the entity the responsibility for the negotiation (managed account).
After having clear the way to access the Forex, remember that this is a highly risky market because although you can get high returns in short periods of time, given the high volatility of these markets and the high degree of leverage, you can also lose all the investment. With deposits ranging from US $ 300, positions of up to US $ 60,000 could be taken, which means that in case of small variations in the price of the coins, large capital can be lost or gained. For this reason, we must be clear that no one can guarantee fixed yields in Forex. Do not trust companies that guarantee high profitability in the short term because they most certainly have to take very high risks to generate them or are doing other things.
Speculation in the currency market must be done with money that can be risked and that if it is lost does not affect the financial situation or lifestyle of the investor. This money has no state guarantee or deposit funds either in Colombia or abroad. It is the investor who assumes all the risk, so he must learn very well how to do it.
For Margarita Baéz, Forex expert and legal representative of Fit Forex Investment Team AG, if someone wants to negotiate on their own they must have a lot of discipline, focus on few markets, know them in depth and study them daily. "The main problem for investors is that they want to become millionaires in a single day, and this is a market in which a lot of discipline is required ... The negotiation strategy I recommend is that what is taken risk is what can be done. easily recover, that's your stop loss, "he says.
Entities have demos (demonstration software) for people to test the platform before investing
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