Is the state now liberalizing the personal foreign exchange business?

Now this market is a gray area, and China is not fully open. Banks can do it, but the cost is too high to do it. The world is full of foreign exchange margin spot companies, more or less there are bets, the packaging is very good-looking, said that the United States or which country in China's **, I don't want to touch, the reason is very simple, once he has an accident, there is nowhere to find him.

Even if you are an NFA member, according to the U.S. bankruptcy law, ** and commodity customers have the right of priority to settle claims in the event of the collapse of an economic company, and the foreign exchange margin spot is not ** nor a commodity, you may not even count as a customer, you can only enter the liquidation process as an unsecured creditor, and it is likely that you will lose all your money. Therefore, if you want to do foreign exchange ** trading in the regular market, it is also margin-based. However, there are no mini lots, no magnification of 500 times and the like, and there is no such practice in the international market.

Now the personal foreign exchange trading business has been opened to all citizens of Chinese mainland! Citizens can go to the bank (personally recommended Bank of China) to exchange foreign currency freely with their valid documents (ID card, soldier ID, passport, etc.), but you have to fill in the form, and you can write travel on the reason for exchange

Speculation is legal, the country has the Shanghai Exchange, but foreign exchange speculation is not legal, and even I am not protected by the law if the money is cheated, hehe.

You can receive foreign currency in your personal account in China, and you can handle it with your documents, or you can handle it in a domestic company, and many foreign traders will help you collect money through a foreign trade company.

You can go directly to the bank to open a foreign currency, so that you can receive foreign currency, or you can find a professional company to carry out **.

Individuals can collect small amounts of private foreign exchange in China, and many of them help collect foreign exchange through foreign trade ** companies, and then pay you personally.

You can open a foreign currency at any bank in the country, so that we can receive the foreign currency.

It is very convenient to operate, you only need to open a personal bank account in the country, and then you can receive foreign exchange. So this brings us a lot of convenience, and it also makes many people feel that this feature is very convenient.

Personal foreign exchange trading, also known as "foreign exchange treasure", refers to the business of banks directly exchanging one foreign exchange for another foreign exchange for domestic residents with reference to the international foreign exchange market exchange rate. That is, the transactions between individual customers in the bank that are freely convertible in foreign exchange (or foreign currency). There are generally real and virtual orders (margins) for individual foreign exchange trading.

Introduction to buying and selling

Through foreign exchange trading, individuals can sell the foreign currency they hold, ** another foreign currency with a higher deposit interest rate or in appreciation, so as to obtain higher interest income or obtain the benefits of foreign exchange appreciation and avoid exchange rate risks. For example, if the interest rate is high and the currency is appreciating, you can get income from both exchange rate difference and interest. Through foreign exchange trading, individuals can also adjust the currency structure of the foreign exchange they hold, which is not only convenient to use, but also conducive to value preservation.

At present, according to the relevant national policies and regulations, only real foreign exchange trading can be carried out, and virtual foreign exchange trading cannot be carried out. Therefore, the personal foreign exchange trading business is a real transaction (no overdraft, margin and other transactions), and the individual conducts real foreign exchange trading through counter service personnel or other electronic financial services during the trading hours specified by the bank. The bank accepts the entrustment of the customer to buy and sell one foreign currency into another foreign currency for the customer according to the bank's personal foreign exchange trading business.

At present, the renminbi has not yet achieved full convertibility, and there is no free trading between the renminbi and foreign exchange. Residents can open an account with a bank account with cash, or transfer the existing cash account to a bank that has opened a personal foreign exchange trading business. In terms of trading means, you can not only go to the bank counter to handle transactions, but also through the Internet, foreign exchange trading.

The annual limit for individual exchange is US$50,000 or its equivalent in foreign currency.

The foreign exchange business of domestic residents for private purposes shall be handled by Bank of China in a unified manner. Residents can purchase foreign exchange at BOC branches in the following situations: outbound tourism.

To visit relatives and meet relatives to exchange foreign currency, you can exchange 1,000 US dollars or 1,000 US dollars equivalent foreign exchange in Chongdou Town to Hong Kong and Macao, and go to countries and regions outside Hong Kong and Macao.

including Taiwan) can be exchanged for 2,000 US dollars, or 2,000 US dollars equivalent in foreign exchange;

Self-financed students and self-funded medical treatment can exchange a one-time exchange of 2,000 US dollars or 2,000 US dollars equivalent foreign exchange when leaving the country; If an individual resident leaves the country at his own expense to participate in international academic activities and is hired as a teacher, if the inviting party does not bear the travel expenses, he or she will exchange foreign currency according to the standard for visiting relatives abroad.

Yes, the annual foreign exchange quota of each Biming individual is 50,000 US dollars.

There is a difference in the amount of remittance between domestic and foreign individuals. For example: remittance in the domestic personal foreign exchange savings account of filial piety and wisdom:

If the cumulative equivalent is less than 50,000 US dollars (inclusive) on the same day, apply at the bank with your valid identity document. If the cumulative equivalent is more than 50,000 US dollars on the same day, it shall be handled with the person's valid identity certificate and the authenticity certificate of the transaction amount under the current account.

Regulations: Remittance with foreign currency cash: the cumulative equivalent of less than 10,000 US dollars on the same day (hand caution included), with your valid identity documents at the bank.

If the cumulative value is more than US$10,000 on the same day, the application shall be handled with the person's valid identity document, the authenticity certificate of the transaction amount under the current account, the Declaration Form for Baggage and Articles of the Customs of the People's Republic of China for Inbound Passengers signed and stamped by the Customs, or the withdrawal receipt of foreign currency cash from the original deposit bank. For more information, please consult 95566 manual or Bank of China** customer service.

For the balance of payments declaration with an amount of less than US$5,000 (including US$5,000), the declaration of private and foreign-related receipts and payments shall be exempted from declaration under the quota. For inward remittances whose remittance amount exceeds the balance of payments declaration limit (US$5,000), the formalities shall be handled in accordance with the relevant declaration and statistical regulations of the local foreign exchange administration. For further information, please contact 95566 manual or Bank of China** customer service.