206 votes

Is this work legal? Someone promises payment for converting money transfers to Bitcoin

It's a scam. It's called a money mule. Typically the way this will work is that the scammers will make a fraudulent money transfer into your friend's account. Your friend will convert the funds into ...
Charles E. Grant's user avatar
88 votes

Is this work legal? Someone promises payment for converting money transfers to Bitcoin

It’s a money-laundering scam, and your friend is likely to get into serious trouble, and possibly lose a lot of money, if he takes part.
Mike Scott's user avatar
  • 23.5k
88 votes
Accepted

Is it a good idea to copy a trader when investing?

The first thing that pops up when you open your link is a disclaimer: 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how ...
Bob Baerker's user avatar
  • 76.4k
72 votes
Accepted

Why would a trading platform only allow withdrawal to the source of payment?

Because if they allow chaining, you can do the following scam: Deposit money via a credit card (possibly stolen). Withdraw money via PayPal. Withdraw the money out of PayPal. Trigger a ...
Brythan's user avatar
  • 21k
63 votes

Is it a good idea to copy a trader when investing?

Well, consider it from the other side. Why would a trader be willing to share trades? Consider the following scenario. The reference trader makes a trade in a low volume market. The trade is ...
Brythan's user avatar
  • 21k
42 votes

Is this work legal? Someone promises payment for converting money transfers to Bitcoin

Your friend should go to a lawyer. The lawyer can then make a deal with the government where your friend testifies as to the activities. Your friend may be asked to communicate with his "employer" ...
Brythan's user avatar
  • 21k
29 votes

Is this work legal? Someone promises payment for converting money transfers to Bitcoin

This is definitely a scam Most electronic fund transfers are reversible, whereas bitcoin transactions are final. Your friend will successfully receive the money and transfer it as bitcoin. When the ...
le3th4x0rbot's user avatar
20 votes
Accepted

When trading indices, what are we buying?

Indices aren't physical instruments that you can trade, no. The most common way to "trade" an index is to buy shares of a mutual fund that tracks the index. Some mutual funds can fully ...
D Stanley's user avatar
  • 135k
19 votes
Accepted

When I buy a stock, should I track the bid price?

The current quote is $996 x $1000 The bid represents the highest price someone is willing to pay ($996) The ask price is the lowest price someone is willing to sell at ($1,000) As a buyer at the ...
Bob Baerker's user avatar
  • 76.4k
14 votes

When I buy a stock, should I track the bid price?

The ask price is the price the stock is sold at, and the bid price is the price people are willing to buy it for. So when you bought the stock for $1000, and you want to sell it for $1020, then that ...
Philipp's user avatar
  • 23.9k
13 votes

Is this work legal? Someone promises payment for converting money transfers to Bitcoin

As other people already replied: it's a scam. Now you ask: "what can he do?" He needs to alert the authorities, explain that he was unaware of the fraud, and ask the police what he can do to help ...
user's user avatar
  • 500
12 votes

Is it a good idea to copy a trader when investing?

Contracts For Difference (CFD) are not investing. They are a form of gambling tarted up with the appearance of investing by the platforms that market them. It is not a good idea to trade in CFDs. I ...
stannius's user avatar
  • 5,301
12 votes

If I buy a preferred stock before ex.dividend, will I get the dividends from the first time or there is more time should I hold it before getting it?

Buying shares of stock (whether common stock or preferred stock) just before the ex-dividend date (but after the dividend has been announced) is called buying the dividend because the market price of ...
Dilip Sarwate's user avatar
11 votes
Accepted

Is it possible to use NFTs to trade the ownership of shares in physical companies?

There's absolutely no problem that it would solve. Ownership of shares in physical companies are already traded electronically and online, and managed through e-records. No-one trades paper ...
littleadv's user avatar
  • 174k
10 votes

Why would a trading platform only allow withdrawal to the source of payment?

I think there's (also?) a different reason than in the accepted answer. In general, credit card companies don't allow merchants to do cash-equivalent transactions, because they expect those to be ...
user541686's user avatar
  • 3,369
10 votes
Accepted

If I buy a preferred stock before ex.dividend, will I get the dividends from the first time or there is more time should I hold it before getting it?

If you buy a preferred stock before the ex-dividend date and you own it on the ex-dividend date then you'll get the dividend. You could own the stock for as little as one day before being entitled to ...
Bob Baerker's user avatar
  • 76.4k
9 votes

Why would a trading platform only allow withdrawal to the source of payment?

There is also (or maybe even most important) a legal reason: As soon as a company transfers money from a source to a different place (like it would happen in this case), it fulfills the definition of ...
Philippos's user avatar
  • 191
8 votes

Is it a good idea to copy a trader when investing?

No, it is not. Fundamentally because TRADING IS NOT INVESTING. So, you basically do not invest at all, you turn into a trader. As such, it can never be a good investment. Disclaimer: I trade,
TomTom's user avatar
  • 11.5k
8 votes

Is it a good idea to copy a trader when investing?

Disclaimer: I work (programming) for a company with a business model very similar to eToro. We are basically competitors. Opinions are my own and not the views of my employer As most of the answers ...
borjab's user avatar
  • 309
6 votes
Accepted

Basic Algorithmic Trading Strategy

This strategy is called trading the 'Golden Cross' if the 50 day SMA moves above the 200 day, or the 'Death Cross' when the 50 day SMA moves below the 200 day SMA. Long-term indicators carry more ...
ode2k's user avatar
  • 204
6 votes

Is it a good idea to copy a trader when investing?

The person you're copying is getting inflated returns because of your actions happening right after his. Additionally, there may be others doing the same mirroring as you. This means that such a ...
John's user avatar
  • 61
6 votes

When I buy a stock, should I track the bid price?

I thought it might be fun to add more detail on how a trade happens. I used to work as a programmer for day traders, and that was a wonderful crash course on how markets work on the second-to-second ...
mrdecemberist's user avatar
6 votes

How to calculate the price of 1 Kilogram of each traded-commodity?

"wheat $707 for 5000 bushels (27.2 kg for 1) 1 kg = 0.00519 $, but I buy 1 kilogram wheat from local supermarket for one dollar" It seems you have a misunderstanding of what these prices ...
Grade 'Eh' Bacon's user avatar
6 votes

Will I get the mutual fund/etf monthly distributions from the first month I invest in?

If you own an ETF, mutual fund or stock when the stock goes ex-dividend, you'll receive the dividend/distribution on the Pay Date.
Bob Baerker's user avatar
  • 76.4k
5 votes

Resources to begin trading from home?

As JoeTaxpayer has commented, the markets are littered with the carcasses of those who buy into the idea that markets submit readily to formal analysis. Financial markets are amongst the most ...
not-nick's user avatar
  • 6,418
5 votes

How can Vanguard sell ETFs for no fee?

Vanguard is in an ETF price war with other brokers and they are all under pressure from brokers like Robinhood which offer free trading and are growing rapidly. Vanguard is more of an asset ...
Bob Baerker's user avatar
  • 76.4k
5 votes
Accepted

Can I make a stable profit from overnight refund?

CFD's charge an overnight fee as they don't want long term holders (the main CFD business is basically being a bookmaker for stocks), although they usually dress it up as being related to leverage or ...
Philip's user avatar
  • 5,768
5 votes

When I send money to fund my account, what obliges a broker to put it in my account?

The Securities Exchange Act of 1934 regulates the behavior of US brokers. It includes standards of conduct and financial rules that broker-dealers must follow. In addition, the Financial Industry ...
Bob Baerker's user avatar
  • 76.4k

Only top scored, non community-wiki answers of a minimum length are eligible