Forex in Iran
Introduction :
Forex is one of the largest and most profitable investment markets in the world. But the question is, is the activity in forex considered legal for Iranians or not? What is the situation of forex in Iran? If you want to participate in one of the most attractive investment platforms, it is necessary to be aware of the legal relations of this market and the status of its activities in Iran. We will talk more about this issue later
What is the situation of forex in Iran?
Forex is an international market for exchanging different currencies of the world with each other. Various exchanges take place in this large and vast international market. In fact, apart from various global currencies, various other transactions are organized by natural and legal persons. This market is a virtual platform and does not have an objective and physical location. Forex does not sleep and you can be active in it at all hours of the day and night. Market dynamics is one of its important indicators for investment and profitability. The dynamic forex market has high liquidity and this is one of its attractive factors. How is forex in Iran? Before 1390, it was possible to operate legally in forex from Iran. Later, this issue did not continue and this market was declared illegal. Regardless of what the process of these changes was, you should know that the declaration of forex activities as illegal made it impossible to legally pursue transactions in case of fraud inside the country. It is worth mentioning that there are no clear and clear laws stating that forex is illegal in Iran, and activities in this field are faced with legal ambiguities.
What is the reason for declaring forex illegal in Iran?
In 1390, the Tehran Stock Exchange Organization declared activity in the stock exchange illegal. What was the reason? Preventing the withdrawal of foreign currency was one of the reasons announced by this institution. To operate in forex, it is necessary to convert Rials into foreign currencies, and this process leads to currency leaving the country despite the authorities. Such a perspective and approach to economic activities and investment in forex is not accurate and completely correct. The reason is that the entry of a large volume of transactions into the forex market and their profitability can be combined with the return of capital to the country.
Is activity in forex recommended for Iranians or not?
As mentioned earlier, forex has been declared illegal in Iran, but you should know that this market is accepted by various countries of the world and its activity is completely legal. This issue promises that Iranians can also create positive activities by being present in the mentioned market. To be more precise, although in case of problems such as fraud, it is not possible to legally pursue the case inside the country, but since the investors and other foreign activists present in forex are legally working in it from their country, there is a possibility of danger. With awareness and precision, it will be reduced. In fact, Forex is a standard platform with specific coordinates that are accepted by the laws of various countries and there is no problem or prohibition to operate in it from different parts of the world. So participating in it with awareness is not only dangerous but also has many benefits, one of which is not having to pay taxes to the government. Since forex trading is not legal in Iran, there is no need to pay taxes for it.
What should be done to work in forex in Iran?
With all these and the prohibitions that exist, it is possible to operate in forex from Iran. To begin with, applicants for forex market activity should look for a broker who acts as an intermediary between them and the market. Choosing the right broker to operate in the market is very important. Some brokers have support services in Farsi and it is much easier to work with them. The number of brokers who do not provide services to Iranian users due to sanctions is also very high. This issue makes it difficult to choose a reliable and desirable broker. After finding a suitable and reliable broker, you must follow the following process:
- Registration in the brokerage;
- conducting trial transactions;
- Start real trading.
Registration in the brokerage
To start working in the forex market, you must first register in a brokerage and have an account. This process is free and follows in a few simple steps.
Conduct trial transactions
There is a favorable opportunity for you to get enough experience in the form and manner of doing forex transactions. By working in the trial version of forex trading, it is possible to learn the trading path. Until you are well acquainted with the process of trading in the market, it is better to use a demo or trial account. With such an opportunity, you can get to know the forex market completely.
Start real trading
It is by receiving the necessary training, learning important tips and capital management that real trading in Forex begins. It is necessary to familiarize yourself with different trading strategies and not to jump into the water. In any financial market, you should not take practical actions without knowing your situation, the market and competitors. Any thoughtless and unaccountable activity can take away many opportunities from you and cause necessary imposition and exorbitant damages.
A closer look at the transactions of Iranians in Forex
Some experts believe that Iranian traders are less likely to succeed in the forex market than people of other nationalities. Poor internet infrastructure and competition with traders operating in the form of banks and large foreign institutions is a bit difficult. However, if you are familiar with winning strategies and practical tactics, the possibility of success will not be denied to you and you can easily achieve growth and financial prosperity in this big market with a lot of liquidity. It is enough to learn the twists and turns of the trading road and take the right steps.
at the end
Forex has been declared illegal in Iran, but this has its advantages as well as restrictions on trading. The most significant advantage of forex ban is exemption from paying taxes. By carefully learning the processes of this market and referring to reliable and expert brokers, you can achieve significant profit and income from the forex market. Don’t underestimate learning and trusting the best on the way to success.
