Hi
Hi Ugyen, i understand your concerned, PM me for further details. ThanksHi Everyone,
Firstly, I want to thank FPA for your never ending selfless efforts to help newbies and pro fx traders alike here. I was lucky eough to have discovered FPA prior to any start into FX trading journey and stay away from scams and pitfalls of realities in FX world. I am a citizen of Bhutan, as small Kingdom out in the Himalayas beside Nepal in between India and China.
My country is a young Democratic Kingdom where we enjoy peace and harmony even in this modern days of conflicts everywhere. However, we are pretty slow into trading online and markets overseas due to which I am in a process to find out more about a Bhutanese being allowed to trade in Markets overseas with my governing authorities here.
My questions to ask you both here today is that if I fail to get a green light on trading abroad (with circumstances beyond my control) is it okay for me to get a Power of Authority from a friend who isn't from Bhutan and trade?
Does FX brokers allow it? I have an interest to trade with a broker for now and have been demo trading with them.
Other question is just as the export of a country increases the probability of having high foreign currency reserves, do you think that trading FX market directly would actually increase (If I perform well) the chances of increasing the foreign currency reserves (USD) in one's central Bank?
I read few expert's opinions (voxeu.org/article/precaution-mercantilism-and-real-exchange-rate), I have a vague opinion that trading FX would somehow help increase the reserves. I am not an expert in Economics nor in Finances so have been tapping into these for past three years to learn more. I intend to clarifies these all so I can convince the authorities here that the current regulation which they have can be reviewed and let us trade online with a larger view of how global markets and economies can actually be regulated and streamlined for the greater good of my country. Apparently it seems I am the only one who came to them so far.
Your valued insights would really help me and my country at large and I appreciate your suggestions on how to go around on both the matters.
Thank you
