Is this regulated by any government agency?

Yes. If you trade with a Philippine broker, they have to be regulated by SEC ( Security and Exchange Commission ), however if you trade with an offshore broker ( a broker outside the Philippines), the broker must be registered in the particular country that they are based and they must also be a registered on FCM ( Futures Commissions Merchant ) regulated by the Commodities and Futures Trade Commission (CFTC) and the National Futures Association.


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