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 ...
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89 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 ...
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  • 73.9k
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.
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  • 22.2k
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 ...
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  • 20.8k
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 ...
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  • 20.8k
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" ...
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  • 20.8k
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 ...
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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 ...
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  • 116k
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 ...
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  • 73.9k
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 ...
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  • 21.6k
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 ...
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  • 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 ...
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  • 4,633
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 ...
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10 votes

How can I identify a likely bull trap?

Remember the 1st Law of Technical Analysis: "For every analysis there exists an equal and opposite analysis." And the 2nd Law of Technical Analysis: "They're both wrong." Technical analysis in the ...
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  • 6,007
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 ...
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  • 3,267
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 ...
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  • 73.9k
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 ...
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  • 191
8 votes

Can I open an investment account in the United States as a Green Card holder?

Your bank doesn't care about your immigration status, it cares about your tax status. You're a US tax resident and will open a US-resident account, not an international account (regardless of where ...
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  • 131k
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,
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  • 11.4k
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 ...
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  • 309
7 votes
Accepted

Is it prudent to sell a stock on a 40% rise in 2 months

Depends entirely on the stock and your perception of it. Would you buy it at the current price? If so, keep it. Would you buy something else? If so, sell it and buy that.
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  • 31.8k
6 votes

Can I open an investment account in the United States as a Green Card holder?

As a relatively recent nonimmigrant visa holder (O1), I was able to open an ETrade brokerage account without problems. I have full tax residence in the USA so have an SSN, and a credit history so it ...
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  • 3,943
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 ...
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  • 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 ...
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  • 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 ...
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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 ...
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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.
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  • 73.9k
5 votes

Anyone know if IG or Plus500 are scams or not?

people claim that these sites are scams I would like to know which idiots or which website says so. And I would say you haven't done your research properly. At the bottom of the page you can see this,...
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  • 10.5k

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