A lot of folks haven't grasped this:
Why have Futu, Tiger Brokers, and ChangQiao stopped allowing new accounts for locals, yet they're still getting hammered? 👀
Because: even though new accounts are halted, the existing users are still trading.
📌 Tax IDs
📌 Identity information
📌 Trading data
📌 Realized profits from selling
All of these can be seen through. 😭
To put it simply:
No matter how much you’ve earned or traded,
there's a high chance it can all be traced back.
Right now, using a local ID + offshore brokers is no longer an option.
In the future, it’s going to get tougher for regular folks to allocate overseas assets,
but it’s likely to push us towards new channels 🫠
Why have Futu, Tiger Brokers, and ChangQiao stopped allowing new accounts for locals, yet they're still getting hammered? 👀
Because: even though new accounts are halted, the existing users are still trading.
📌 Tax IDs
📌 Identity information
📌 Trading data
📌 Realized profits from selling
All of these can be seen through. 😭
To put it simply:
No matter how much you’ve earned or traded,
there's a high chance it can all be traced back.
Right now, using a local ID + offshore brokers is no longer an option.
In the future, it’s going to get tougher for regular folks to allocate overseas assets,
but it’s likely to push us towards new channels 🫠