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 How FOREX Trades Are Taxed - Investopedia

How FOREX Trades Are Taxed - Investopedia

Forex Trading

To provide high-quality information that traders can apply in their pursuit of profits.
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Spread Betting - Trading Without The Tax

Spread Betting is a form of trading stocks, or any other security by placing your trades on a brokers/bookmakers price rather than the actual market. Trading this way means (in the UK) you don't pay any stamp duty or become liable for capital gains tax on your profits (if there are any!).. But lets get down to the nitty gritty, stocks, indices, forex or commodities, ideas to trade or charts to watch... :) All welcome..
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New Codes Now

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Forex pay

Join us our services to success your future. Forex one of the top best business in whole world. Everyone know about forex business because its increasing day by day.
submitted by forexpaycom to u/forexpaycom [link] [comments]

Is it worth paying for Forex trading courses?

I’ve been trading stocks here and there by using tips that I’ve learned off of countless hours of internet research and YouTube videos. My friend got interested in Forex trading because his friend said he made $1k in a day. I don’t believe in buying courses and I’ve told him that but he’s getting convinced on this because his friend bought a $300 course and uses some Forex program and ended up making that $1k a day. We are all 20 so $1k makes our mouths water, but my friend has absolutely no experience in any sort of trading. I know that most trading gurus make a lot, if not most, of their income from selling information so I don’t buy the idea that paying for a course will somehow have an impact on your trading abilities. I decided to join this Forex subreddit to see what any of your thoughts are. I’m pretty new to Forex as well so I’ll be sticking around just to learn.
tldr; my friend wants to buy a course to learn Forex but I don’t think it’s a good idea because all the info is free on the internet. Thoughts?
submitted by dinoslam to Forex [link] [comments]

Housemate claims to be a millionaire from Forex, but can’t pay rent

I have no idea if this is the right place for this or not, but it’s the only sub I could think of for this. Let me also preface this by saying I don’t know anything about Forex, I’m just curious as to how this process works. Anyway, I’ve got a housemate who supposedly has over $4 million in a Bank of America account and another ~$5 million in his “trading” account. As of a couple weeks ago he was trying to get all of us involved in some company called KOT4X but when he explained it all it seemed like a straight pyramid scheme or some other of scam (paying $250 just to open an account, etc.). Long story short, he also mentioned specifically that he does HFX which, as far as I can tell, is just straight gambling. My question really is, is it possible that he actually has this supposed $4 million available or is it more likely that amount of money set off some pretty major red flags with the banks? Really just trying to understand how any of this could possibly be legal (or even how it happens at all) because his 10 minute elevator pitch to me made it sound like a complete scam.
submitted by hobbs_squad to Forex [link] [comments]

David Begnaud: Puerto Rico’s Health Secretary is vowing to make these people “pay for their actions”. What happened? “Traders”, many of whom are tourists, from ‘Forex’ held a party on the island, violating the Governor’s executive order to wear a mask & social distance

David Begnaud: Puerto Rico’s Health Secretary is vowing to make these people “pay for their actions”. What happened? “Traders”, many of whom are tourists, from ‘Forex’ held a party on the island, violating the Governor’s executive order to wear a mask & social distance submitted by TweetArchiveBot to TweetArchiver [link] [comments]

If I'm unemployed and I profit more than £12,500 a year (tax-free allowance) trading Forex, will I have to pay income tax on all profits above £12,500?

Also, when do I declare it as income? Does it count as income when my Forex account balance increases, or when I actually withdraw the funds into my bank account?
So lets say that I gain £20,000 this year trading Forex, but this stays in my Forex account (I don't withdraw any money into my bank account). Will I have to declare it as income and pay taxes on it? Or is that only if I withdraw the profits into my bank account?
(by the way, I am spread betting, therefore there is no stamp duty or capital gains tax).
submitted by RapidActionBattalion to UKPersonalFinance [link] [comments]

Paying "TAX" as a trader on Forex

I have a question regarding tax, How do you guys pay the feds on your trading income?
Example: On The United States
submitted by jamemadisonn to Forex [link] [comments]

Whats the deal with all this forex trading lately, is this another "wave" or should people really be paying attention?

submitted by 313JoJo to AskReddit [link] [comments]

When trading CFDs (Forex) as your main source of income, do you just pay income tax or do you have to also pay CGT?

When trading Forex CFDs as your second source of income, you will have to pay CGT.
When trading CFDs as your main source of income, you will have to pay income tax. My question is: do you also have to pay CGT along with the income tax, or is it just income tax by itself?
submitted by RapidActionBattalion to UKPersonalFinance [link] [comments]

Is this a scammer trying to convince people that paying for forex is not a scam? 😂

Is this a scammer trying to convince people that paying for forex is not a scam? 😂 submitted by pete1397 to Scams [link] [comments]

Paying taxes from Forex trading in Poland

I am a full-time foreign student (a tax resident) in Poland. I do not have a job, and the only source of my income is Forex trading, which is basically converting the currency (transferring from one of my accounts to another) within the same Polish bank. Presuming it is taxable income, how much of it need to be paid as tax and how would I go about paying it?
I have read a bit about PIT-11 form which is usually provided by an employer, but in my case I'm likely considered to be "self-employed".
submitted by arc650 to poland [link] [comments]

How much would you pay a junior trader managing your forex account ?

Hey guys, so I've hired a junior trader to manage my forex trading account remotely (small 3k-5k accounts).
If you were in my shoes, how much would you offer in comission (Other pay structure suggestions are welcome) ?
History: 3-5 trades a day. So far, sustainable growth during demo run of 2 weeks.
Appreciate your help and input.
submitted by ASocialAlchemist to Forex [link] [comments]

07-28 19:35 - 'Do you know you can stay home and also make profits weekly and daily trading forex . The secret to investing is to figure out the value of something – and then pay a lot less.' (i.redd.it) by /u/Grzegorbartekk removed from /r/Bitcoin within 118-128min

Do you know you can stay home and also make profits weekly and daily trading forex . The secret to investing is to figure out the value of something – and then pay a lot less.
Go1dfish undelete link
unreddit undelete link
Author: Grzegorbartekk
submitted by removalbot to removalbot [link] [comments]

Unathi Kwaza RT from Rod MacPhail: Land and buildings are a great thing to sell to foreigners. They bring in forex. They pay rates and utilities. They visit SA and spend money. They can’t take it away. A goodly chunk of London and New York is foreign owned. About 1% of SA property is foreign owne...

Unathi Kwaza RT from Rod MacPhail: Land and buildings are a great thing to sell to foreigners. They bring in forex. They pay rates and utilities. They visit SA and spend money. They can’t take it away. A goodly chunk of London and New York is foreign owned. About 1% of SA property is foreign owne... submitted by TweetArchiveBot to LibertyRSA [link] [comments]

Need Help - Do Businesses who generate Forex income have to pay GST/HST to the CRA (Canada)

Hey guys, I'm a total noobie here and can't seem to find the answer to this question anywhere.

In Canada, if you incorporate yourself and run your trades through your business and earn business income, do you also have to pay GST/HST to the CRA as another business would?

I am asking this question because for my current job, I am incorporated (different field) and charge GST/HST, which then goes to the CRA. However, seeing as this is Forex, would it be the same? It's not like you can collect GST/HST from the market....lol

Essentially I'm trying to see what is the best option to save my profits going forward. This scenario is based on generating 500K/year in profit via trading:

  1. Claim Capital Gains - 50% of the profit will be taxed at your marginal rate (Until how long though? At what point will the CRA consider it business income instead?)
  2. Sole Proprietor - Income is taxed at the personal income tax rate and you can also claim expenses, in addition you do not pay GST/HST
  3. Incorporated Business - Income is taxed at the corporate tax rate, you can claim expenses and pay yourself dividends (even lower tax rate), BUT - Do you have to pay GST/HST as well?

Sorry for the stupid question, the answer is probably no, but I want to be sure.

If I don't have to pay GST/HST then I think registering as a business is a no-brainer. In fact, you can save more money than purely capital gains up to a certain point. Not to mention all the tax-hacks you can have like using the business' money to buy yourself a home completely tax-free in Canada, if you know how to do it. Essentially I'm seeing the best way to pay myself 100K/year while saving the other 400K, to then take it out tax-free on a future home. But yeah, do businesses have to pay GST/HST?

Thanks everyone.
submitted by TresslessFin to Forex [link] [comments]

Unathi Kwaza RT from Leonard Horne: @Unathi_Kwaza @Checkpoint_eNCA Very true , the majority of us are too naive & gullible. Coupled with freebies like houses & Amagrants from @MYANC forex trading sounds like a peace of cake. Eish ; & now even Ama Youth see it as a way to pay lobola quick & fast 😉😉😙😙

Unathi Kwaza RT from Leonard Horne: @Unathi_Kwaza @Checkpoint_eNCA Very true , the majority of us are too naive & gullible. Coupled with freebies like houses & Amagrants from @MYANC forex trading sounds like a peace of cake. Eish ; & now even Ama Youth see it as a way to pay lobola quick & fast 😉😉😙😙 submitted by TweetArchiveBot to LibertyRSA [link] [comments]

I will trade for you, in your own account no jokes. Pm me and I will trade your forex account if you are will to pay me %20 of profits generated in 1/2 months.

I will trade for you, in your own account no jokes. Pm me and I will trade your forex account if you are will to pay me %20 of profits generated in 1/2 months. submitted by clementarthur to InvestmentClub [link] [comments]

Referral-only forex "mirror trading" group that pays daily in btc. Free to join, minimum $100 to start earning, $200 to make bonuses! Please DM for more info!

submitted by Murglewurms to Referral [link] [comments]

ELI5: Who pays you money when you "gain" on forex trading

I understand the basics of foreign exchange like exchanging money when coming back from holiday and the exchange rate moves favorably so you get more back than you might have expected.
But from what I understand, you don't actually buy the currency when forex trading, so who actually loses out when you win?
submitted by reindeer88 to explainlikeimfive [link] [comments]

Forex investment website

Join us our services to success your future. Forex one of the top best business in whole world. Everyone know about forex business because its increasing day by day. forex-pay.com
submitted by forexpaycom to u/forexpaycom [link] [comments]

best way to get alerts for forex trades (preferably without paying)

hi, does anyone have a good way to get alerts for trades (ie when price breaks below a certain target you get an alert on your phone) etc. thanks
submitted by Xxhardman69xX to Forex [link] [comments]

It's a lot harder to make money in forex if you pay your taxes

In 2016 I made ~3000 USD trading with Oanda and correctly guessing the outcome of the brexit referendum.
I did my taxes through HR block that year, and it took a bit to figure out how to report my earnings through forex trading. The accountant told me in fact she'd never heard of anyone doing this before.
Forex brokers are not required to report client earnings to the IRS, unlike companies that fall under the legal definition of a broker
OANDA does not report taxes on behalf of our clients, and as a result we do not provide any tax forms relating to profit/loss on your account (e.g. 1099-B form). The information you would need to complete your tax reporting can be found on your annual account statement, which you can download from your My Account page by clicking on 'View account statements'. Information about other types of tax form OANDA does provide can be found below.
However, this should be obvious, (EDIT: if you're subject to US taxes) you have a legal obligation to pay income taxes on any money you earn through forex, unless you have a lawyer or accountant who says otherwise (for instance because you're trading on behalf of a company etc).
Of course with forex trading, there is money lost on the spread, but the money lost in taxes in years where you win is much greater. Forex earnings are income taxes so while it is true that you can deduct losses in years where you lose significant money there's a major issue, the standard deduction.
With the standard deduction recently increased, most middle class tax payers will want to select it. But selecting the standard deduction means you can't deduct forex trading losses from that year.
This is something people don't pay enough thought to when they plan on doing forex trading. So I just wanted to let people know that there's a force far greater than the spread that you need to contend with.
tl;dr growing up, is awfuller, than all the awful things that ever were
submitted by scwizard to Forex [link] [comments]

Idiotic question

I was recently paying for an online forex training platform but after being on YouTube, here and googling questions I found similar answers. I've also found answers on applications on my phone (free btw). I just wanted to know, do forex pays off? I'm not trying to solely live off of it of course. I wanted to use it as an extra source of income and to also start up projects that will lead up to more income. For example realestate.
submitted by kemoy313 to Forex [link] [comments]

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FOREX AND TAXES WHAT YOU NEED TO KNOW ! FOREX TRADING ...

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