China Banned Forex Margin Trading

The Chinese Central bank ordered last month all local banks which provided Forex margin trading to stop their services to existing customers and not to accept new investors. This decision was made after more than 80% than the day traders with those banks reported loses. The banks that were offering online Forex trading in China were : China Bank, Minsheng Bank and the Bank of communications. All forms of online trading of financial products such as shares, commodities and futures are very trendy in China with heavy off line promotions for various systems and trading platforms. The Yuan (RMB) itself cannot be traded in any way in international markets by Chinese regulation and it is listed on the export banned list commodities list.