Hello, I have been trading since the start of the pandemic, and I'm now at the point where I get payouts ranging from 400k - 950k php. I've always been told that forex trading is not yet taxable here; but now that I'm earning a hefty sum every month, I wanted to be sure. Do note, these profits are not gains from my own money, but rather a prop firm's. Prop firms are trading companies offering equity to traders who have passed their challenges/tests. Once passed they are given an account (usually demo accounts) and whatever profit the trader makes on that account, they are given a percentage. In my case, I have a 100k usd funded account with a prop firm in which I get paid out biweekly. Should I be doing something about taxes, may kailangan ba gawin para maiwasan ang kung ano mang complications in the future? I have no knowledge whatsoever about taxes and whatnot, all I know is how to trade. Thank you. edit: Took out the prop firm’s name as someone got triggered and called this post a scam advert. It’s not, I really am just looking for tax advice.
I’m trying to invest into forex as an 18 year old to fund for university. I’ve been meaning to move to Canada in fall 2023 from the uk for universities for personal reasons. I have around 330 pounds to begin with. Any tips?
I wonder if anyone here has any prior experience with trading in general because i feel so LONELY and kinda lost (not so lost as i’ve been doing this for almost two years). as you now it’s a long long way, so I thought it might be nice to find people with common interests.
I am just being introduced to the whole “wifi money” side hustle thing and I heard that forex trading is a pretty good side hustle to get rich. So if there are any people can explain forex trading in a simple way that would be appreciated. I am also seeing if dropshipping would be the better way to get rich but if anyone can tell me if dropshipping or forex trading is a better side hustle please let me know 🙏 (Tried to post on explainlikeim5 but it got taken down)
Is Forex trading a scam or do people make money from it?
The reason I'm asking is because I see these posts online daily and I'm curious about it.. obviously don't want to start if it's not a definite means of income. Is it legit? Are people genuinely making the kind of money they claim to in these videos?
I have been paper trading EURUSD pair with incredible success. But neither Zerodha or Upstox has EURUSD pair, they only have INR based pairs. I have checked that 3 foreign currency pairs are legal and EURUSD is one of them, so I wanted to trade it. Do you guys know any reliable Indian broker which has this pair for trading? PS: I prefer EURUSD over USDINR as there is more liquidity and movement.
Hi, i am relatively new to forex trading (was trading crypto only before) and i wonder what currency account i should open with my broker. I will be trading USD pairs like USDCAD, USDJPY, but i live in a EUR country... So what should i go for, a USD or EUR account? P.S.: I will be mainly algo trading and i heard some EA's (MT5) have troubles with EUR accounts trading USD pairs, the money management would have problems... Is that true? Any ideas highly appreciated! BR Dan
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